Unseen benefits of hiring an accounting firm in Singapore

Unseen benefits of hiring an accounting firm in Singapore

Accountant, Accounting, Adviser, Advisor

Regardless of how long you have been in business, there is still a lot for you to learn. With new technologies emerging here and there, things are changing rapidly. What may be working now may become ineffective in years to come. As a business owner, it is your responsibility to keep up with the trends in your industry and figure out ways to outshine your competitors and attract more customers.  With so many business activities to juggle on, focusing on these important tasks might be difficult or even impossible. This is one of the reasons why many businesses in Singapore struggle and eventually die out.

If you don’t want to be among the statistics of businesses that fade out after a year or two in business, you may have to change the way you think and your approach to business. For example, you have to banish the idea that you have to do everything by yourself and embrace outsourcing. To ensure the growth of your business you should outsource time-consuming tasks that aren’t really going to increase your income margin like your accounting.

The following article metisconsulting shed light on some mouthwatering benefits of hiring an accounting firm.

Benefits You Can Expect by Hiring Accounting Firms

Are you the owner of a small business firm that is settled in the Sydney business scene and now looking to make it big with the great opportunities that are available here? Then sooner or later you will have to get in touch with an accounting and finance Services Company that can give you the right kind of support that you need. Read more here.

You probably now know how hiring an accounting firm can scale your business growth. If you are just starting out and you have a few customers, there may not be a need for you to outsource anything, not even your accounting. But as time goes, your business is likely going to grow and you are going to have more customers. What are you going to do when your business is at that stage? Are you going to outsource some task or keep doing everything by yourself?

The following article by scalefactor explains how business owners can know when it is time to outsource their accounting.

How to Know When It’s Time To Outsource Your Company Accounting

With changes in tax requirements, bill pay, and client expectations, small and large businesses alike are trying to improve their financial services. In fact, more than 50 percent of small businesses in the U.S. now have a CFO or other financial manager keeping track of their accounts. Read more here.

You likely know some telltale signs that show when you need to outsource your company’s accounting. So, if you have made laughable accounting mistakes in the past, your business is growing very quickly or your methods are too slow, then you should consider hiring an accounting firm. Before making a final decision, it important that you weigh the pros and cons of outsourced accounting services.

The following article by StephenKing unveils the pros and cons of outsourced accounting services.

The Pros and Cons of Outsourced Accounting Services

Outsourced accounting, bookkeeping, and controller services have become a more common solution for small businesses today. Why? Read more here.

You surely now know the advantages and disadvantages of outsourcing your accounting. So, weigh the risks and the benefits associated with it and make a final decision. Remember that not all accounting companies are great and will be able to cater to the needs of your company. So choose wisely.

Final note

No one starts a business to make meager profits or break even. Everybody wants to make a fortune and become number one in their industry. If you share this goal, then you should focus only on business activities that will increase your income, improve customer satisfaction and outsource mind-racking and time-consuming activities like accounting and bookkeeping.

If you own a small business, it may be ok for you to handle your accounting, but as it grows and you get more customers, you should consider outsourcing it.

You may also consider this accounting service Singapore.

Ensure that you do your research before choosing an accounting firm as they can potentially dwindle or scale the growth of your company.

 

 

Why You Should Register Your Business

Many people start businesses today, especially those that provide services online, without registering the business as a legal entity. However, companies, even those that have started up and are run by one person, are bound to grow. In Singapore, the Business Name Registration Act (BNRA) describes the businesses that are required to register and those that are exempted. Businesses exempted include those registered in the proprietor’s name, trade unions registered under the Trade Unions act, societies registered under the Societies Act, and mutual benefit organizations registered under the Mutual Benefits Organizations Act.

A registered business shows authenticity

Clients usually want to feel that they are interacting with a duly registered company that complies with the laws of the country. All certified companies have a name to protect so they will endeavor to adhere to business ethics that will ensure they sell the right products and provide the services under their terms of operation. Clients also prefer dealing with registered companies because details on the business can be verified by the Accounting and Corporate Regulatory Authority (ACRA). It is however not an easy feat to complete on your own. Many companies outsource such business registration and incorporation work to corporate service providers such as: https://prelude.sg/services/company-incorporation-business-registration/

It is easier to get funding

Financial institutions quickly provide funding to registered business as opposed to those that are not. This is one of the first considerations when banks and other lenders look at when looking at loan applications. A business entity that is legally recognized by the government is easily trusted more than an unknown entity. Additionally, for a business to benefit from government programs that have been established to support companies, especially startups, including financial programs, it needs to be registered. For example, Enterprise Singapore offers financial and non-financial assistance to registered businesses.

Increased opportunities to transact with the government

When starting a business, many people have a narrow perspective of their client base. Fortunately, even though startups mostly target a particular business model, they are not static. Businesses revolve to be more encompassing as they gain ground and become a brand. Registering the company at a later date means the company will lose the years it took to grow since it will be considered a new entity. The government of Singapore only does business with registered companies. For any company to participate in government tenders, it needs to be registered.

Business registration shows proof of the company’s experience

Have you ever wondered why companies endeavor to indicate when they were incorporated or registered? This serves as a notice to any potential clients questioning the expertise and experience of a company they are thinking of using to meet their needs. It is natural for one to equate the period since registration to imply the company is more experienced. Certification also shows the company is ready to meet its legal obligations, including payment of taxes.

Many clients would rather deal with a business entity that is registered and meeting its tax obligations, especially if it is earning a profit. A registered company has a higher chance of progressing and growing to levels the proprietors never thought possible when they first formed the company. Although most of the success is through hard work and persistence, working through a legal framework helps tremendously.

 

Important things to look out for during Tax Compliance

As per the company acts 175,197 and 201 for companies in Singapore, all companies operating in Singapore need to have AGMs (Annual General Meeting). There are several rules and taxes which one needs to be aware of, while running a business. Though many owners try to get an insight about the procedures on their own, it is advised to hire a tax consultant in Singapore to help. There are certain rules and regulations set by IRAS and ACRA which are required to be fulfilled by every company, thus hiring professional help is recommended.

There are a few firms working in Singapore providing tax consultation and accounting services. They are experts in managing accounting, payroll, taxation as well as bookkeeping records. Main services provided in this category are covered individual and corporate headings:

Individual Level Services

  1. Tax Filing Services:

    With Singapore becoming the hub of tourism, many people are finding it a great place to play, live and work. The economy of Singapore is emerging among other economies like Indonesia, Malaysia, Vietnam, Thailand and Cambodia. The friendly and people-based tax filing system prevailing in Singapore allows people to relocate to this city. All who are not living in Singapore as well as foreigners, are foreigners as far as tax payment is concerned. The tax payment depends purely upon the status of residency, total service period which is minimum of 60 days. In case any individual has a work permit or pass, he/she is liable to pay upfront tax.

It is always advised to hire a tax consultant who is an expert in compliance with extensive advisory services when filing tax for any individual. In the case where you forget to mention any relevant and important information, it will be quite the sticky situation.

Corporate Level Services

  1. Accounting and Bookkeeping:

    for submitting yearly account information to IRAS and ACRA in Singapore, compilation of account information is needed by all companies. Thus, as per the regulations of the Singapore Companies Act, all companies are required to keep account books intact for better maintenance of financial statements and day to day account information.

  2. Keeping estimated chargeable income: for the year of assessment, an estimated chargeable income also needs to be kept for new companies. At the end of the financial year, an ECI is needed to be submitted by each company. In case any company has zero income, then NIL ECI is even required to be submitted. It is the record of a company’s overall revenues, and estimated disposal of their fixed assets.
  3. Filing of GST: For all companies operating in Singapore with annual income more than $1 million, filing of GST is essential. There are, however, certain services like sale or purchase of residential property, transportation as well as import of precious metals and their local supply are exempted from the tax. The tax collection in Singapore is a multi-layered process. It is done at every step and at every distribution and production level. It is also paid in case of any business transaction of services and goods is being done.
  4. Management of Payroll: For any company, preparing payroll and salary of employees is an important part of business operations. In Singapore especially, some small enterprises outsource their payrolls to accounting services firms. Thus, sources need to be well trained and experts in managing payroll in the most effective manner. The payroll confidentiality level is also kept.

Thus, for all types of tax services and other related services, it is better to hire a corporate service provider to ensure it is done accurately and executed well for your company.

Attributes of a Good Corporate Secretary

Once directors or business owners decide to change their business to an incorporated company, they have to face some of the legal demands for such a business. The role of a corporate secretary in Singapore has evolved tremendously in recent years. Many people assume the corporate secretary is there to assist the board chair or executive director. A corporate secretary does more than just taking notes. Today’s corporate secretaries are expected to research and have most, if not all of the answers to the questions raised about the company.

The corporate secretary needs to understand the company’s business model

When appointing a corporate secretary, the appointing body needs to choose someone who has or can understand the business model. The appointment does not have to be of someone who has been in the employ of the company. An outsider can be brought in, as long as the person has a clear understanding that one of his or her responsibilities is to understand the company and what the different structures in the business do.

Have an executive presence and excellent communication skills

The corporate secretary is the go-to person for people from all the different levels of the company should the need for clarification arise. The board members rely heavily on the corporate secretary for information. How the company secretary communicates tells a lot about the person’s ability to get people to listen and possibly take action.

The corporate secretary requires a presence that commands respect from other members, including the company’s executives. There are times when the secretary will be forced to halt decisions made by directors if they contravene the law, and this needs to be done with authority and respect.

Basic knowledge of corporate and securities laws

This is a fundamental attribute when appointing a corporate secretary. The responsibilities of the company secretary lie heavily on the aligning of decisions to corporate laws as well as the company laws. As a company grows, it is easy to sometimes lose sight on some of the rules, which may seem negligible but need to be followed. For example, when the company sells shares to raise capital, the list of shareholders needs to be updated. The company also needs to file returns at the right time and file the financial statements within the stipulated period. It is the responsibility of the corporate secretary to keep up with the schedule and the laws.

Possess the ability to discuss and get consensus across the board

Disagreements within the company are nothing new. Sometimes an idea may be acceptable to some members of the board, while others may not agree with the approach. It is up to the corporate secretary to research on ways to bridge the gap and find ways to gain a consensus even in situations that seem impossible.

This is one of the reasons a corporate secretary needs to have an executive presence. Having knowledge and appealingly communicating the facts may come in handy when there is an impasse. Using the law to get people to agree on the same thing is also essential. However, to do this, adequate knowledge and a discussion based on facts are essential.

It is evident that the position of the corporate secretary needs to be filled by a person who has integrity and one that is knowledgeable on law.

HOW TO CHOOSE THE RIGHT CAKE FOR YOUR EVENT IN SINGAPORE

 HOW TO CHOOSE THE RIGHT CAKE FOR YOUR EVENT IN SINGAPORE

Planning a large event is not only time consuming but also very stressful. Choosing a cake that will befit your event is certainly not an easy task. Why? Well, it is because there are so many cakes to choose from.

When you visit any of the best cake shops in Singapore, you are going to see a lot of beautiful and delicious cakes. To choose the right one, you are definitely going to need some help.

Do you know that there are some super easy tips that can help you choose the right cake for your special event? The good thing about these tips is that they are simple, straightforward and easy to follow.

The following article by Sweet Cheery Bakery shed light on some tips that can help you choose the right flavour of cake for your event.

5 TIPS FOR CHOOSING THE RIGHT FLAVOR OF CAKE FOR YOUR EVENT

Planning large events can be stressful and time-consuming. Choosing the best cake flavors for your big event, whether shopping for wedding cakes or specialty cakes, does not have to be taxing. Read more here.

You probably now know some five tips that can help you find a cake that will suit your event. If your event or celebration is really special, you may need something more than a regular cake. You may need a customized cake. But, do you know any bakery in Singapore that does beautiful and delicious customized cakes?

The following article by Ho Pei Ying unveils 7 bakeries that do customized cakes in Singapore.

7 BAKERIES IN SINGAPORE THAT DO BEAUTIFUL CUSTOMISED CAKES

Need a cake for a special celebration? Whether it’s for a birthday or an anniversary, these places offer elegant and gorgeous made-to-order confections that go beyond run-of-the-mill designs. Read more here.

You likely now know 7 bakeries that do customised cakes in Singapore.  Do well to visiting any of them when you need a unique cake. On the other hand, if you are looking for a regular cake for a birthday party or anniversary, then you should visit any of the top cake shops in Singapore.

TOP 10 CAKE SHOP & PATISSERIE SHOPS IN SINGAPORE

Fruitcake- so light and airy Green zebra cake Green tea matcha ice cream Got take out and they put dry ice so ice cream wouldn’t melt” Read more here.

You surely now know the top 10 cake shops in Singapore. Since they are all top rated cake shops, it is likely going to be difficult for you to choose among them. That said, one thing you should keep in mind is that they may not have the exact kind of cake you are looking for or the cake that will suit your event. The best way to for you know if a cake shop is good is by visiting it.

Final note

Choosing a cake for your large event or special celebration is by no means an easy task. And this is because there are so many types of cakes at most cake shops. To choose the right one, it is important that you give thought to the nature of your event and the guests that will be coming.

If your event is super special or you want something unique then you should visit any of the top bakeries in Singapore that do custom cakes.

On the other hand, if you want a regular cake then you should visit any of the top-rated cake shops situated in different parts of Singapore.

 

Birthday Cakes for Kids and Teens

 

Birthdays can be a huge deal for a kid. Cakes are synonymous with a birthday. There is no birthday without a birthday cake and a party! There are plenty of cake shops in Singapore which makes excellent birthday cakes for kids and teens. From different flavors or a multi-flavored cake to 3D cakes or cartoon cakes, every one of them is available in the bustling lanes of Singapore.

You will first have to make the decision of whether to make a cake or are you planning to buy one from the shop. Many moms in Singapore like baking and hence, are always on the lookout for some new innovative ideas for a cake.  However, there are a few things you should know before you start making your kid that cake he/she loves so much! Take a look at this article by Punch Bowl.

Tips for Kids Birthday Cakes

What flavors do you want? Once you have made the decision to either make your kid’s birthday cake or to buy it, next think of what flavor cake you want. In general, kids are simple so keeping with simple cake flavors is the best. Chocolate flavored cake and vanilla flavored cake are the most popular.

What type of cake decorations are needed? The decorations on a birthday cake for kids are important because they are what everyone will see at the party. This can be a hard task, but picking a theme for the birthday cake or matching the cake to the birthday party theme can help make it easier. For birthday cakes for boys, themes like pirates, reptiles, or cars are excellent. Themes for birthday cakes for girls can be princesses, ballet, or animals. Accessorize your cake with cake toppers that compliment the cake’s theme to make it even more fabulous. A cohesive theme for your kid’s birthday cake will make it special and unique for the party. Read more here!

Well, that was a very detailed and informative article. You want read more if you want to know more about how you can make your kid’s birthday cake at home and win the best mom’s award!

If you feel that making the cake at home is not possible at this time, you can go for one of the shop made ones. As everybody knows, the birthday cake at a kids’ birthday party is like the guest of honor! There are great ways to dedicate the birthday cake to the child. One could be to use the favorite color of the birthday kid. Another could be to have the favorite cartoon character! Not only does the theme of the cake have to be right, it also needs to be mouth-wateringly delicious.

Some of the popular characters in a cake are Cinderella, Dora, Barbie, Winnie the Pooh. Thomas the Train, SpongeBob, Bob the Builder, or Nemo!

Bengawan Solo is known for their cartoon cream cakes which are delicious. Smiling Orchid are pioneers in the world of 3D cakes. The kids are going to go bonkers over these ultra-realistic looking cakes! Ecreative is a shop which prides itself on its aesthetically pleasing and equally delicious 3D cakes. Emicakes makes durian cakes! They are available in 3D versions! Can things get better than this? Room for Desserts is a popular 3D cakes shop which offers more flavors and varieties than any place else. Sweet Secrets have mastered the photo cakes. If you have any special moment with the birthday child, just give them and they will put that on the cake. In this list by Our Little Smarties, there are many popular bakeries and cake shops listed.

 

Children’s Birthday Cakes

Assorted design of cartoon cream cakes at $40 – $45/kg. 3D cakes are available too. I bought this Baby Bugs cream cake for my son’s 1st birthday. It was very creamy and yummy! Novelty cake starts from $65. The pricing is by size, instead of weight. Look at this Animals Train cake, it is so CUTE! Cartoon cakes look great too, with so many flavors to choose from.

Smiling Orchid’s 3D cake designs are wonderful, creative and detailed. Price is from $60/kg. Use real toys as decorations. The kids will definitely love them. Nice 3D designs. Minimum 2kg/cake. Need to order 2 weeks in advance. Prices vary depending on the size, flavours and design. Oh, this cake is so sweet, isn’t it? Have a memorable birthday party with this unique photocake. Indeed very special! Read more here.

These are excellent cake shops. Each one here is the master of their business and are working towards making the birthday of that child very special indeed by customizing the cake flavours and catering a wide range of tastes like from durian, chocolate to oreo. One such cake shop is Catandthefiddle in singapore.

Not only kids like their birthdays to be celebrated with a cake, teenagers do too! Turning 18 in your life is a very important milestone. As always, it is celebrated with a cake. There are many amazing and flavorful cakes available in Singapore if you are planning to celebrate the 18th birthday of someone special. This article by Bzino mentions all the top bakeries in Singapore.

How to Choose the Right Birthday Cake for Your 18th Birthday

The first and most important thing to consider is the bakery. Whether you are getting your cake from an online cake shop or are placing an order with a nearby bakery, choosing a baker who knows his trade well would be the best bet. Although a lot of bakers claim to offer amazing services, you shouldn’t buy their words right away. Ask them about their experience and expertise. Also, ask them if they will be able to bake a cake design of your choice. Discuss with them any design you must be having in your mind for your 18th birthday cake.

Another important aspect to take into account is the flavor of the cake. What is a birthday cake without the right flavor? While choosing the flavor, don’t always go by what you like. Choose a flavor that is popular in general. Chocolate and vanilla are two of the most favored flavors of all time. So, if you choose one of these, the chances of going wrong reduce significantly. Less common flavors such as pineapple or strawberry may not quite impress your guests. So, choose the flavor keeping in mind popular demand. Read more here.

 

In conclusion, Singapore has a great many cake shops which cater for kids birthdays! If you are a mom who loves baking, there are plenty of ideas that you can work with and give your child the cake of his dreams. If not, there are always cake shops to help you out. An 18th birthday is indeed a once-in-a-lifetime event and that calls for a celebration. What better way to do it than with cakes?!

 

 

House Plans By Tia Martyn

The residential design process is typically managed by an architect. It is essential to landscape and build retaining walls for these steeper grades, or you might discover that the land erodes away quickly, or worse, collapses completely. This will be the part most likely to become seen by people, even with a distance. Are you thinking of a career in Interior Design? Are you interested in physical spaces, and would you frequently notice your surroundings.

Any particular mood you need to will also have a direct relation to the purpose of the space. There needs to be contrast inside the colors, as using the cypresses and olives. So you’ve the option to turn designer or not, it is your choice.

Completely portable dog houses are the ones provided by Petmate. You don’t have to reside in the log home to bring the powerful presence of natural wood into your living space. The company has often opted to forego the monetary profit to become made in specifying a low-cost overseas import, and only staying local and knowing that this lesser impact benefits everyone.

What a Pool Designer Can Do To Suit Your Needs By Leonor Lamb. Customers want maximum returns of their investments and do give them total satisfaction you need to have to fulfill their needs. It means using products which are natural and convey the forest indoors. Made by famous designer Alvar Aalto, it became a legend due to the flowing and free-from walls.

Soft colors which possess the look of nature are chosen to provide the earthy furniture a peaceful, relaxing setting. This is carried out in the entire text with every borrowed phrase or quotation having its very own citation. The software also includes textures for tiled floors, granite countertops and custom cabinetry. Regardless of whether you live in the sprawling villa or inside a small apartment with little space to spare, proper and meticulous planning ensures that you can increase the risk for best out of the available space. Include some slow-growing evergreens, yews, scots pines, cedars when the climate allows.

Unique but simple pieces of furniture can also complement color. I have provided three guidelines for designing with ceramic tile however, these usually are not the be-all design. Lighting your kit can be described as a fun yet challenging time. Lighting your kit can be described as a fun yet challenging time. One of the greatest enable you to can acquire is simply by means of interiors catalog.

leaves. You also need to enhance your talent and knowledge of website design technologies at regular interval. Rather than being outdated and old, retro takes the best of previous styles to develop a modern approach. You can show off your personality by pairing neutral colors together in unique ways all night with subtle themes that still get your point of view across.

Welcome To Farm and Ranch Lending

We are changing the way rural residential properties are financed!

We make loans on Executive Estates, Vineyards, Hobby Farms, Gentleman Ranches, Equestrian Facilities, Part-Time Farms.

We are one of the most active rural residential and farm and ranch lenders in the country. We understand rural property owner’s financing needs and we know what you have traditionally had to deal with in obtaining a loan. Our loan programs have lower rates and longer amortization terms. Unlike most lenders, we value all of your land in determining the lendable value and market value and we have streamlined the loan application process with many different loan programs to choose from. Our base requirement is that your property has a house on it, whether you live in it or not.

It is our sincere desire to provide loans to all rural residential, farm and ranch property owners who have been frustrated by traditional lending constraints on rural properties. We are a new kind of lender and those people who have worked with us have been thrilled with the results.

Our lending strategy involves the development of long term relationships characterized by professionalism, trust and respect between borrower and lender. We assess the needs of our clients individually and make financing recommendations in your best interests. Our knowledge of the market and relationships with aggressive lenders help us to develop innovative financing options, while obtaining the most competitive rates and loan terms.

We make the loan process simple and we deliver.