The Singapore Financial Reporting Standard for Small Entities (SFRS for Small Entities) is designed to apply to the general purpose financial statements and other financial reporting of all profit-oriented entities. (source: SFRS for Small Entities Documentation). The guidelines set and prescribed by the SFRS provide parameters for businesses in Singapore to prepare accurate director’s reports that provide accurate, sufficient information on the health and operations of the business. The SFRS guidelines are in a comprehensive document that details every aspect of preparing a director’ s report. Together with the Accounting Standards Council (ASC), the guidelines prescribe accounting standards for Singapore-incorporated companies, charities, co-operatives, and societies.

While the Accounting Standards Council is responsible for the formulation and promulgation of Singapore’s accounting standards, the enforcement and oversight of compliance with accounting standards is under the purview of respective regulating entities, such as the Accounting and Corporate Regulatory Authority Singapore (ACRA) for companies, Registrar of Co-operative Societies for co-operatives, and Registrar of Societies for societies in Singapore. These regulating bodies monitor their respective categories to ensure compliance and consistency across the organizations that come under their watches.

RCW accounting firm Singapore has the expertise and knowledge to help businesses and organizations that fall under any of these categories. RCW accountants and consultants assist organizations with the preparation of director’s reports, taking into account the information needs of stakeholders and the facilitation of comparability, disclosure, and transparency.

In addition to insight and compliance, RCW accounting firm Singapore provides organizations to prepare directors’ reports by articulating concepts and pervasive principles, presenting financial statements, preparing statements of financial positions, preparing statements of income that are comprehensive, preparing statements of changes in equity, preparing statements of cash flows, adding notes to financial statements, consolidating separate financial statements, articulating accounting policies, estimates and errors, and providing expert insight into provisions and contingencies.

RCW accounting firm Singapore also helps organizations to clearly identify each of their financial statements and include notes to distinguish them from other information in the same document. Organizations are required to display specific information prominently in the report, and repeat this information when necessary for better understanding and clarity. RCW accounting firm Singapore has the capacity to identify which bits of information require repeating and noting, and helps organizations to present this information clearly and consistently. RCW accounting firm Singapore provides the full gamut of services required to prepare and present a director’s report that is compliant, useful, and accurately compiled to provide relevant information to stakeholders who need it.