Compilation of unaudited Financial Statements:

Compilation of accounts or reports means compilation of unaudited Financial Statements of a private company. Profit and loss statements, balance sheet and financial statement are compiled to give an outlook on the company’s financial standing.

Company that is exempted from the audit requirement is still required to prepare a full set of unaudited Financial Statements including explanatory notes with Directors’ Statement, and be prepared in compliance with the Singapore Financial Reporting Standards.

You will require the unaudited Financial Statements for the purpose of Annual General Meetings, tax submission and accountability to shareholders of the company. The unaudited Financial Statements can be used to obtain banking facilities, apply for government grants and to meet regulatory requirements in specific industries.

Unaudited Financial Statements contains:

  • Directors’ Statement
  • Statement of Comprehensive Income – Income Statement
  • Statement of Financial Position – Balance Sheet
  • Statement Of Changes In Equity
  • Statement of Cash Flows
  • Notes to the Financial Statements

Exemption from Audit requirement:

The “small company” and “small group” concept is effective from 1 July 2015 after the change in the law. The company can be exempted for audit if the company meet the criteria of “small company” or “small group” for the financial years beginning on or after 1 July 2015.

“Small company”
A private company can qualify as a small company if it meets at least 2 of the criterias below for past 2 consecutive financial years

(i) total revenue not exceeding S$10 million
(ii) total assets not exceeding S$10 million
(iii) Number of full time employees not exceeding 50

“Small group”
The company which is part of a group can qualify under “small group” exemption if the company qualify as a “small company”, and it meets at least 2 of the criterias below for past 2 consecutive financial years on a consolidation basis.

(i) total revenue of the group not exceeding S$10 million
(ii) total assets of the group not exceeding S$10 million
(iii) Number of full time employees of the group not exceeding 50

How much it costs?


choose your financial statements

Type of company

Revenue

Total assets

Compliance

Revision

Delivery days

Source file – PDF

Source file – Mircosoft Words

Financial Statement disclosures

– Profit and loss

– Trade and other receivable

– Trade and other payables

– Cash and cash equivalents

– Income tax payable

– Equity

– Inventories

– Bill payables

– Finance lease liability

– Property, plant and equipment

– Intangible assets

– Investment in subsidiaries

– Group consolidation

Basic

S$299


Dormant

S$0

Below S$10,000

Singapore Financial Reporting Standards

3

5 days


Lowest!

Econom

S$499


Active

Below S$5 million

Below S$5 million

Singapore Financial Reporting Standards

10

7 days


Standard

S$599


Active

Below S$5 million

Below S$5 million

Singapore Financial Reporting Standards

Unlimited

7 days


Pro

S$849


Active

Any

Any

Singapore Financial Reporting Standards

Unlimited

10 days


High Demand!

Order procedures:

Step 1: Place your order online / via email / contact form
Step 2: Email us your documents
Step 3: Processing
Step 4: Email you draft Financial Statements for approval
Step 5: Further amendment if needed
Step 6: Done

Free download:

Would you like to download a free Financial Statements template, so that you can prepare your company’s unaudited Financial Statements yourself? You can save cost by doing so.

If yes, you can download a free template here and amend with your company information accordingly.

Financial Statements 2017 Template
Free Download

(Please provide name and email address for free download)

Why outsource to Professional Accounting Firm?

Accounting staffs

Professional Qualified Staffs

We have a team of professionally qualified accountants and tax agents with professional qualifications from relevant bodies such as ACCA, CPA and CA (Singapore).

Account team

COMPLIANCE WITH LATEST STANDARDS AND REGULATIONS

We would keep track of all the changes and implement them as and when required, making sure that our clients are always in the good books of the financial market regulators.

Cost saving

Cost savings

It may be quite costly to have a proper accounting department headed by a professionally qualified accountant teamed with an assistant accountant and several account clerks. Same tasks can be done more cost effectively by outsourced to a professional service provider that can handle the tasks for you.