Dear Friends,,

All Singapore incorporated companies which are either unlimited or limited by shares will be required to file their financial statements in XBRL with effect from 1st November 2007.  If you do not have a qualified staff to do this, we can solve your problem.                                 

Call 94899429 today, and you will enjoy our promotional price!

• XBRL stands for "Extensible Business Reporting Language", a language used computers to present financial statements such that they can be retrieved from online records and transferred directly to users such as auditor, regulators and financial analysts for various purposes.
• ACRA believes that the use of XBRL will achieve the dual objectives of facilitating the doing of business in Singapore by providing more value-added financial information of companies and enhancing the regulatory environment with improved transparency and timely dissemination of relevant financial information.

• Option A Filing the full set of financial statements in XBRL format (as tabled at or used for the purposes of the company's AGM with all applicable sections in FS manager to be duly completed).  ACRA will waive the penalties for late AGM provided it is not more than one month after the prescribed period; ACRA will also waive the penalties for late filing provided AGM is held within the prescribed period; and the annual returns are filed not one month later than that as required by law.
• Option B Filing only the Balance Sheet and Income statement in XBRL format.

• Ensuring the correctness and accuracy of the financial statements filed with ACRA will continue to be the responsibility of the directors of the companies.
• They are advised to check the information to be filed before authorizing the company's filer to submit the information to ACRA when filing the Annual Returns.
• Therefore, the Directors should ensure that the preparers of the financial statements possess the requisite accounting knowledge to prepare the financial statements to be submitted to ACRA through the FS manager.
  

Our team of qualified accountants will help you. All CPAs are bound by the code of ethics, confidentiality of your data is guaranteed!

 We encourage you to bookmark our website, if you are one of the following:

• Banks, insurance companies and finance companies whose activities are regulated by the Monetary Aurhority of Singapore.  
• Companies that are allowed by law to prepare accounts in accordance with accounting standards other than the Singapore Financial Reporting Standard or the International Financial Reporting Standards.
• Companies limited by guarantee and foreign companies and their branches.

You don't have to file your annual returns in XBRL!!!

What are the important dates to remember?

A company is required to file in XBRL format on or after 1st November 2007 if the financial period concerned ends on or after 30 April 2007. In other words, a company must file its financial statements in XBRL format if the following two criteria are applicable:

• If the Financial Statements ends on or after 30 April 2007 and;

• The company is filing its annual returns on or after 1st November 2007.

For instance, if your company's financial year ended on 31 December 2007, the AGM must be held by 30 June 2008; and the annual returns must be filed on or before 31st July 2008.  

• $100 if you have the full set of financial statements ready to be filed in the format other than XBRL
• $350 if you only have the trial balance and your accounts are not finalized.
• $500 onwards if you have not completed your trial balance depending on the volume of your transactions.

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