Accounting Services in Singapore
Looking for quality accounting services Singapore? You are at the right place.
AG is a top fast growing group of audit and accounting firms based in Singapore and Malaysia. Our accounting services include the preparation of full set accounts and related tasks such as handling bank reconciliations, accounts payable, accounts receivable and payroll services in Singapore. Accounts can be maintained at either clients’ office or ours, according to clients’ needs.
We use varied accounting software ranging from those that cater for SME such as Quick Books & MYOB to big, public-listed and multinational companies such as Oracle & SAP.
Benefits of Our Accounting Services
- ONE-STOP SOLUTION
Having all services done at AG enables reducing process, time and cost.
- EXPERTISE ENSURE QUALITY
Our accounting teams are led by qualified Chartered Accountants to ensure our service quality. Professionalism is our principle.
Clients can decide to have their accounts be maintained at their office or ours. This helps to maximise clients’ office capacity.
- COST EFFECTIVENESS
It is costly to hire a qualified accountants for a SME, not to mention the cost for setting up an accounting system. Outsourcing accounting function to an accounting firm in Singapore like AG, helps to reduce fixed operation cost.
- A+ CUSTOMER SERVICE
Being reliable, responsive and responsible is our customer service attitude. We believe the right attitude is the heart to delivering great customer service. That is why our clients across the world love working with us.
Confidentiality is our core ethical value. All our services are governed by non-disclosure policy.
Common Accounting Mistakes
Functional Currency. It is typical misconception that business registered in Singapore should adopt S$ as functional currency. According to FRS-21, a entity should determine its functional currency based on primary economic environment in which it operates.
FIFO Stock Policy. In the past, First-In-First-Out (FIFO) costing method was permitted. However, this method was removed, only LIFO or weighed average costing method is permitted.
Inappropriate Accounting Policy. Certain industry sales recognition is governed by specific FRS. Adopting a wrong accounting policy, for example, trading sales recognition method is adopted for construction project sales, is not appropriate.
Unresponsive Accounting System. Standard accounting system is suitable for SME with simple business model like trading, import & export. Certain complex businesses like construction, logistic and tourism should use tailored made accounting system that best fits their business model.