Looking for an accounting firm that will help with your accounting? Incorporate Business Online prepared a listing of accounting companies in Singapore. Our company ratings include companies that provide different accounting services:
The accountancy industry in Singapore offers a wide range of accounting services and accounting tax support for small and medium-sized businesses. Also, accounting firms can provide timely and relevant information on Singapore’s tax law.
This list of accounting firms in Singapore includes all the major service providers, so you can choose the one that suits your business needs best.
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Today, you cannot overestimate the services of an accountant. It is important to entrust the financial work of a company that will not let you down at the wrong time. In Singapore, and throughout Asia, there are many accounting firms that offer their services. They provide accounting services to everyone from a novice entrepreneur to an experienced business owner with a massive area of interest. By cooperating with accounting firms, you reliably protect your business from errors in the calculation of taxes, payment of salaries, insurance payments, and eliminate difficulties in conducting transactions with counterparties. The companies will professionally analyze the features of the client’s business and develop a scheme of work that allows to achieve noticeable efficiency in specific conditions.
Accounting firms in Singapore help startups, sole proprietorships, small and medium businesses, and large enterprises with accounting and accounting-related needs.
Top accounting firms in Singapore offer an extensive variety of services for different economic sectors such as oil and gas, IT, construction, healthcare, energy and commodities, media, technology and so on.
Accounting and advisory firms in Singapore assist with Estimated Chargeable Income, with profit & loss accounts, a balance sheet, cash flow statement and equity statement. Also, accounting companies in Singapore will be helpful if you need a tax computation form for audited or unaudited accounts, financial statements for the company, and filling of financial statements with XBRL format. Moreover, these companies can help with accounts receivable and accounts payable, monthly management reports, and accounting queries.
Last but not least is that most of the firms can offer accounting advice and assistance, financial due diligence, cloud accounting, compliance management, accounts consolidation, accounting systems and records set up, and weekly or monthly financial record maintenance and tracking.
In order to receive comprehensive accounting for your company, you should provide a minimum of information that relates to the type of economic activity and accounting in your company.
Based on the financial documents you provide, the accountant verifies and organizes the information to create and maintain the ledger.
An accountant can also help you prepare financial statements in accordance with Financial Reporting Standards (FRS) for mandatory filing with the competent government authority in Singapore.
List of accounting firms in Singapore includes almost all firms of any size and shape and is always up-to-date.
In the field of international business, Big Four is a well-known group of the largest organizations of a transnational scale that provide audit and consulting services.
Big Four includes:
Deloitte — Deloitte Touche Tohmatsu Limited
PwC — PricewaterhouseCoopers
EY — Ernst & Young
KPMG — Klynveld Peat Marwick Goerdeler
They provide legal services to the vast majority of publicly traded companies. This group can rightly be called an oligopoly, as they dominate the audit and consulting market. Big Four serves 99% of FTSE-100 companies, 96% of FTSE-250 firms, and 95% of Fortune-500 organizations.
The FTSE-100 index is calculated by the British Stock Exchange and is based on the values of the shares of 100 companies with the largest capitalization. Their total capitalization exceeds 80% of all firms listed on the stock exchange. Fortune magazine publishes its ranking of the world’s 500 largest organizations, compiling it according to annual revenue.
Each of these audit organizations has more than a century of history. PricewaterhouseCoopers and Deloitte Touche were founded in 1849 in Great Britain. For 170 years, they have experienced enough reorganizations and upheavals, but they are still the biggest players. In 1870, KPMG was created. The youngest company is Ernst & Young, who began providing audit services in 1903.
The list of services provided by accounting firms is quite extensive. First of all, these services include accounting for banking and cash transactions, opening and closing accounts, preparing financial statements, maintaining books and registers, and others. Accounting firms do payroll and calculation of all types of taxes. Moreover, most accounting firms provide tax services such as the formation of tax accounting registers, tax preparation and reporting, and so on.
In Singapore there are three types of entities that can provide accounting services:
According to the Accounting and Corporate Regulatory Authority, there are currently 433 public accounting firms.