Who Needs to File Financial Statements and XBRL
All Singapore (SG) incorporated companies are required to file financial statements (FS) with ACRA, except for those which are exempted. Some companies will file a full set of FS in XBRL format, while some others will file key financial data in XBRL format and a full set of signed copy of the FS tabled at annual general meeting and/or circulated to members (AGM FS) in PDF. If you own a sole proprietorship, partnership, limited liability partnership, or limited partnership, you are not required to file FS with ACRA.
XBRL FIling and Resources From ACRA
Need help in filing your XBRL?
There is no need to spend unnecessary time on figuring out how to file your XBRL with ACRA. Most likely if you do so, you will be prompted with errors from validating the data when using the Bizfinx Tool.
We can assist on preparing and filing your XBRL with ACRA , and in so doing you can better allocate your manpower or time to more meaningful tasks required in your day-to-day business.
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We are passionate about anything that is related to accounting! If your accounts are running into backlogs arising from issues from service providers or that you as a business owner are overwhelmed by day-to-day operations, we can help to catch up or reconstruct the accounts to date to ensure all numbers are good to move forward and in compliance with IRAS and ACRA.
We provide guidance on accounting standards and tax for owners or business who wanted to know more so that they can plan ahead and take into consideration the elements when negotiating a commercial agreement.