You might be aware that the Accounting & Corporate Regulatory Authority (ACRA) implemented a new filing requirement for Singapore incorporated companies to file your financial statements in XBRL format with effect from 1 November 2007.
XBRL stands for eXtensible Business Reporting Language. It is the director’s responsibility to ensure the accuracy and correct representation of information. It is a time-consuming task and often, you would need be to equipped with sufficient level of accounting background and knowledge on Singapore Financial Reporting Standards before you could carry out this task effectively
As the director, you can either
- DIY yourself by accessing on to the Bizfile website, learn the procedures and prepare the XBRL report yourself; or
- free yourself of this hassle by dumping this no-revenue generating task to a professional accounting firm like 1 Accounting to assist you in the preparation.
Before you engage us for the XBRL filing, we will carry out the assessment whether you really need for the XBRL filing as there is exemption for certain companies that meet the exemption criteria. Why not check with us on the exemption to save you cost and eliminate your worries on accounting compliance?
XBRL Filing Singapore
Are you looking to get help with any XBRL filing in Singapore that you need to go through? Then let us help. The 1Accounting team are skilled experts in the challenges of dealing with XBRL filing, making sure you can file on-time, accurately, and without any delay. We’re a fully professional services provider that can take out the stress in handling one of the most challenging parts of financial reporting.
When you are asked to put in ACRA-compliant XBRL finance reports, it’s only natural to feel worried. If you aren’t sure about how to go about doing this, you could easily make mistakes and cost yourself time, money, and health. If you are looking to avoid any mistakes or problems with your XBRL filing in Singapore, then you need only pick up the phone and give us a call today.
Our team can then arrange a date that suits you so that we can talk with you about your XBRL filing needs.
Take the confusion out of XBRL filing in Singapore
If you are running a company that has to report XBRL, such as insolvent EPCs or public/private companies outside of MAS regulations, then you will need to have a clear ideal of how to go about handling this confusing process.
We can help you to do so and make sure that your upload is going to go through freely and that there are no errors made. We can help you to see the mistakes made, and understand why they are mistakes so that you can avoid the same issue in future for your own reference.
Whether you think you are XBRL compliant or you are not sure if you need to file XBRL filing reports, contact us today. We can evaluate your business and its structure, ensuring that you aren’t having to get involved with XBRL filing when there is no need. If you do have to commit to XBRL filing, we’ll make sure it’s as simple and as easy as is possible.