What you receive when we prepare your unaudited financial statements:
- Director’s Report & Statement
- Detailed Profit and Loss Statement for the Year End
- Detailed Balance Sheet as at a certain Date
- Company Compliance Notes to Financial Statement
One flat-fee of only $600
What does financial statements of small business consist of?
- Profit and Loss*
- Balance Sheet*
- Cash Flow statement
- Notes to Financial Statement
(*To be explained in more details)
The profit and loss (also commonly called the statement of financial performance) gives you information about its sales, expenses and profit. It tells you the state of your company for a period of time, example, 1 year.
On the other hand, the balance sheet (also known as the statement of financial position) gives you information about its Assets, Liabilities and Equity. It tells you the position of your company as at a particular point of time.
As a small and medium enterprise, most of the financial statements are unaudited. As such, majority of these companies only require these 2 main components: Profit and Loss & Balance Sheet.
The Director’s Report and Statement, Profit and Loss, Balance Sheet and Compliance Notes for companies?
These are the main elements that are sufficient to be compliant with the Singapore laws and regulations. With these statements, you can file your company’s annual return to ACRA (Accounting and Corporate Regulatory Authority) as well as the lodgment and filing of yearly tax returns to IRAS (Inland Revenue Authority of Singapore).
J Accounting Services believes in giving you just what is necessary to be in compliance, so that you do not incur additional unnecessary costs for your business for things which you do not need.