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Accounting Services Singapore and the importance of it

Accounting Services Singapore and the importance of it – Accounting is as old as doing business itself. In the olden days, there are so many ways of trying to keep track of how much money is made and how much profits has been made. Even right before there was a way of computing. People will use beads or items to do the counting and make sure they make profits. When written languages and numbers were created, use of paper and writing materials were used to record on a daily basis how much silver or gold was made to make sure that the merchants know if this trade was a good one and worth their time to doing it again.

Accounting Services Singapore and the importance of it

Accounting Services started from that point. There are many people who started to specialize in such fields to work as stock takers or accountants to make sure the figures are done right and to compute the profits of the trades for their bosses who are engaged in merchant trade. The merchant class soon became a wealthy class of people with their regular buying and selling of goods and services.

Singapore is a big trading location. We are blessed with a great location that connects the east and the west and many people in Singapore who have started on business probably come from some roots of trading. Our port is great for such trades and this also makes Singapore one of the finest financial hubs in the world. With a great financial hub, the importance of running a company in Singapore and a good Accounting Services Singapore infrasturcture is important.

This makes for an important accounting firm singapore system that the government needs to set up so that it could handle the flow of business traffic from around the world that wants to take advantage of the ease of doing business here and also at the same time the low taxes it could afford to the local business owners. When you are doing trading in this region , you need to know that keeping a good set of accounts is important because Singapore is reputable for the fact that they are able to make sure accounting work is done right and well and to keep the integrity of it being a financial hub that is not taken advantage of.

There are many things that can be done when you are doing business in Singapore but trying to use it to finance terrorism and money laundering is what the government wants to avoid.

Accounting services providers therefore are very strict to their customers to get the work done properly so that if there is a chance of the accounts getting picked up for random audits by the government. There are ways to work with them to make sure all the transactions are done with good information clearance.


K Cloud Accounting is a Xero Accounting firm provider of Accounting Services in Singapore that does full management of your government requirements. Corporate Secretarial services with the providing of nominee secretary and maintenance of your files. End of year un-audited financial report compilation. Tax computation and submission services. Annual General Meeting and annual return submission.

We are keen to work closely with your startup to provide high quality services for your needs. Call our business development manager now!

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