Astab is proud to announce the launch of our Astab Online Accounting Services. Astab Online Accounting uses online accounting software to harness the benefit of cloud accounting increasing the flexibility of business owners allowing them to concentrate on their profitability. Using XERO, the world's easiest and most beautiful accounting software, Astab Online Accounting Services allows businesses access to real time access to their accounts from any computer, tablet or smart phone.
All Astab Online Accounting Plans comes with Xero, the world's easiest accounting software. Before reading on, watch the video on below to find out what Xero can do.
Learn more about the features of our Online Accounting Services Features Tour page.
Under the revised XBRL filing requirements with effect from late October 2013, all Singapore incorporated companies which are either unlimited or limited by shares required to file their financial statements with ACRA will be required to file a full set of financial statements in XBRL format, according to the new expanded ACRA Taxonomy 2013. Filing of Option B (Partial XBRL), a filing option under the current XBRL filing system, will no longer be available. In this article, ASTAB will be summarising how companies will be affected.
Solvent Exempt Private Limited Company
All solvent Exempt Private Limited Companies, including Dormant Exempt Privated Limited Companies will continue to be exempted from filing their accounts and XBRL filing will not required.
Insolvent Exempt Private Limited Company
Insolvent Exempt Private Limited Companies will be required to file their financial statements with ACRA. They will have the choice of filing the new full set of financial statements in XBRL format or a full set of financial statements in PDF with Financial Statement Highlights in XBRL format.
Private Company (non EPC)
Private Companies will be required to file a full set of financial statements in XBRL format.
Companies exempted from filing full set of financial statements in XBRL format
Commercial Banks, Merchant Banks, Registered Insurers and Finance Companies regulated by the Monetary Authority of Singapore and Companies allowed by law to prepare accounts in accordance with accounting standards other than SFRS, SFRS for Small Entities and IFRS (International Financial Reporting standards) will be exempted from filing full sets of financial statements in XBRL. They will be required to file their financial statements in PDF with Financial Statements Highlights in XBRL format.