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Financial Planning For Small Businesses In Singapore



March 2013
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May Your Auditor Offer Secretarial Services It is the norm for small and medium sized businesses to engage third party businesses to deal with most of their accountancy and consultancy work only when they want the work done. Many services, especially smaller ones, never think of discussing with employed accounting firms what other skills the accountants give. The audit firm Singapore businesses use can often give a range of other consultancy services. Where the law requires that a registered business has to submit annual audited accounts, it will be necessary for such businesses to contact a firm of accountants to carry out the audit. The auditor is concerned only with the bookkeeping of the firm, in reality audit companies could additionally conduct business audits. Undertaking a business audit can point the way to improved efficiency. A business audit is concerned with analyzing how the business is being run, both in term of how it is delivering its core product as well as management issues. When people launch new companies, they commonly have a product or service to bring to the market, and their vision of the future sees them developing that product or service. Most people never think in too much detail about the different aspects of running their company. Where a company cannot afford to hire full time administrative workers, administration duties are regularly shared out among the persons working in the company. Even though this will get the administration done, it can be taking persons away form the jobs for which they were firstly engaged. Much of this business administration might be handled by the audit firm Singapore firms make use of. Most Singapore accounting firms offer consultancy services, and not only in the economics arena. Numerous accounting consulting companies offer services like payroll as well as human resource management, as well as secretarial services Singapore businesses might outsource. Outsourcing these tasks aids in keeping the wage bill lower, because the small company does not have to contract somebody on a permanent basis. Outsourcing may be the way forward for businesses to get control over their costs and to keep them focused on their core business. For related articles on audit firm Singapore or click here to learn more.


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