Singapore – Mal Management or simply known as MAL, a well-established one stop corporate service provider in Singapore, helps different clients and business owners manage accounts and bookkeeping with their simplified processes and efficient accounting services.
MAL offers accounting services not only for the menial administrative tasks but for purposes of greater importance such as business expansion, operations and high level financial decisions. Its services are more than just administrative operations and records.
The professional team from MAL are geared with competent knowledge in the industry to ensure that all the requirements every company needs to accomplish are properly executed and recorded. These are all comprise of a comprehensive chain of accounting services that the company can provide for their clients which are:
1. Bookkeeping and Accounting Services
By law, every Singaporean Company must maintain a book of accounts. As defined by the Singapore Financial Reporting Standard (SFRS), this book of accounts consists of “Profit and Loss Account”, “Balance Sheet”, “Cash Flow Statement” and “Equity Statement.”
2. Drafting Audited/Unaudited Financial Statements
It is a lawful obligation that companies with more than 20 shareholders, where one shareholder is a corporate entity or companies with an annual turnover of S$5 million be audited properly and with compliance to the necessary standards. MAL accountants will be glad to provide assistance in this department and take the burden off your shoulders.
3. Extensible Business Reporting Language (XBRL)
With effect from 3/3/2014, companies that are incorporated in Singapore are required to file financial statements in full XBRL format due to a new implementation of filing requirements by the ACRA.
4. Provide routine and non-routine financial and analysis reports
Without proper information, it is impossible to make the right decisions. That is the purpose of financial and analysis reports. An example of one such report is a departmental report, which records the objectives and goals specified by the reporting period and whether or not they are accomplished.
5. Highlights on Key Variances and Performance Indicators
How do you know whether your company is achieving its stated goals? This is where Key Variances and Performance Indicators come into action. They are essentially specialized reports.
6. Set up proper filing system
During the lifetime of a company, a huge majority of paperwork will be kept for future reference, auditing and other such tasks. Unfortunately, some people and companies do not learn to set up proper filing systems until it is too late – the longer you wait, the more difficult it will be to correct this mistake as your documents build up in a big, disorganized mess.
MAL aims to provide a huge upshot from every single task done well as the figures and massive financial data from the accounting services provided can greatly affect the performance of the company and the progress of the business as well.
About the company:
MAL Management Services Pte Ltd (MAL) is a well-established one stop corporate service provider offering company registration, corporate & individual income tax, GST, corporate secretarial, bookkeeping, accounting, payroll and other corporate services. MAL aims to help company to manage its compliance obligations in the most efficient and effective manner. To find out more, visit: http://malmgt.com/gst/.