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In late 2023, GASB issued Statement 102 , "Certain Risk Disclosures," requiring state and local governments to provide financialstatement users with information about specific risks when circumstances make a government vulnerable to a heightened possibility of loss or harm. That is effective for 2025financialstatements."
Navigating ACRA’s Compliance Requirements for 2025 As a small business owner in Singapore, ensuring compliance with ACRA’s regulations is crucial for your companys legal standing and company incorporation. The return must include up-to-date details such as the companys financialstatements, directors, and shareholders.
Your financialstatements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. May 13th, 2025 at 11:00 AM PDT, 2:00 PM EDT, 7:00 PM BST Register now!
Digital tools can also help ease the burden by automating some of the more complex or time-consuming tasks and keeping you organised, whether thats simply capturing your expenses for claiming deductions, or more complex tasks for small businesses like managing records, financialstatements and tax compliance.
But here’s the thing… Outsourcing your accounting isn’t just a convenience anymore — it’s becoming a competitive advantage in 2025. Because when you’re not buried in financial paperwork, you can focus on what really matters: scaling your business. All while trying to actually run your business.
AI-driven solutions not only streamline credit processes but significantly reduce risks, create more objective decision making and enhance overall financial health. There are 8 key AI-powered credit management solutions as of when this blog was written, 2025. Take a Product Tour Top 8 AI-Powered Credit Management Solutions 1.
In 2025, credit evaluations have transformed significantly, leveraging advanced technologies and vast datasets. The evolution of technology has introduced advanced tools that enhance risk assessment, streamline credit processes, and mitigate potential financial losses.
The post Top Remote Accounting Candidates for Hire | January 30, 2025 appeared first on Accountingfly. Remote Work Experience: Y Salary: $65k – $75k Time Zone: Eastern Sign up for FREE to learn more about this candidate Get access to the complete list of top remote accounting candidates weekly! Sign up now to check out Top Candidates.
Work experience: All in public accounting Supervises a tax team of 5 associates Review and analysis of financialstatements Tax planning, research, and projections Peer review Client niches: SMBs. The post Top Remote Accounting Candidates for Hire | January 17, 2025 appeared first on Accountingfly.
Here’s a practical guide to help you prepare for a successful SME exit in 2025 Why Exit Planning Matters Many business owners delay exit planning until they have no choice due to burnout, health issues, or an unexpected offer. But businesses that arent exit-ready are often underpriced or lose deals entirely.
Compliance with Singapore Financial Reporting Standards (International) Effective from January 1, 2025, businesses in Singapore are required to adhere to the updated SFRS(I). These standards align with international financial reporting norms, ensuring consistency and transparency in financialstatements.
Annual Filing and FinancialStatements: Enables file annual returns and financialstatements digitally. Starting in 2025, businesses will file financialstatements in XBRL (eXtensible Business Reporting Language) format.
The type of treatment affects the financialstatements and tax returns differently. Moreover, a sudden change in tariffs alters a businesss financial outlook at the end of the fiscal year. Some organisations include tariffs in the value of inventories, while others consider them as operating expenses.
Here are some articles you might find helpful: Singapore Budget 2025: Key Benefits for Small Businesses How Automation is Changing Accounting for Small Businesses Salary, Payroll, and Tax Compliance The post The Role of Bookkeeping in the Growth of Small Businesses in Singapore appeared first on Welcome to Counto Singapore.
Tax Deadlines in Singapore for 2025: Every Small Business Should Know As a small business owner in Singapore, managing your taxes may feel like a challenge. With a clear grasp of the important tax deadlines in 2025 and some forward planning, you can navigate the year with ease. Corporate Income Tax a. Goods and Services Tax (GST) a.
Key Considerations for Payroll and Accounting With GST applied to digital services, businesses should ensure: Accurate Expense Reporting: Proper recording of GST-inclusive software subscriptions in financialstatements. What is the Basic Salary for Foreigners in Singapore 2025? What is Gratuity Payment in Singapore?
Private companies can skip AGMs if they send financialstatements to shareholders within five months after FYE, unless shareholders request an AGM within 14 days before the end of the sixth month after FYE. Listed companies must hold AGMs within four months after FYE.
Per the Small Entity Compliance Guide published by the Financial Crimes Enforcement Network, companies created or registered to do business before January 1, 2024, will have until January 1, 2025 to file their initial BOI reports. Audit preparation and compliance require organized documents.
During the AGM, financialstatements, which should be no more than 6 months old, are presented to shareholders. Private companies may be exempt from AGMs if financialstatements are sent to shareholders within 5 months after the financial year-end, unless requested otherwise by shareholders.
From a Press Release Dated March 6, 2025, Schaumburg, Illinois (Photo by Çağlar Oskay on Unsplash ) Bectran, a SaaS platform for credit departments, has launched a faster bank verification method with built-in risk scoring.
Understanding how to assess the best loan offers and structure your repayments can play a significant role in minimising costs and ensuring your business remains financially healthy in the long term. How Does P2P Funding Work in Singapore? Here are some articles you might find helpful: Does Singapore Have 13th Month Pay?
To assess the state of OCR in 2025, we benchmarked nine of the most popular OCR APIs, covering commercial solutions, open-source OCR engines, and document processing frameworks. Our Our dataset choices include: Common Business Documents: Forms, invoices, and financialstatements containing structured text.
Corporate Income Tax Rebate To further ease the financial burden on businesses, including newly incorporated companies, Singapore offers a Corporate Income Tax Rebate. Available to all companies , including newly incorporated ones, until 2025. Key Features: A S$15,000 rebate is available annually.
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