Expert Accounting Services For Singapore Financial Companies
Have your accounting obligations taken care of
Drive your financial firm's success
Gain a thorough view of your financial performance to boost profits and navigate Singapore competitive landscape.
Reduce legal risk, increase efficiency
Explore our cost-effective options and enjoy an effortless experience.
Seamless compliance with Singapore reporting laws
Your financial records will be well-managed in compliance with Singapore's stringent regulations on your behalf.
Optimize resources, fuel strategic growth
Free up valuable time and resources to redirect them towards core operations and boost innovations.
BBCIncorp provides the solution you need
Unwavering support, accurate reporting
Our team of experts delivers precise and reliable financial reporting, ensuring your sensitive financial data is handled with the utmost care and accuracy.
Effortless compliance, uninterrupted focus
We proactively manage your accounting, bookkeeping, report filing and other tax obligations. You will be updated timely through our compliance calendar.
Advanced software platform for real-time tracking
BBCIncorp leverages the power of Xero's accounting software to optimize financial processes. Gain seamless control and convenient access to your data.
Accounting obligations
Streamline financial processes online, with real-time tracking on your compliance calendar.
Bookkeeping duties
Monitor management accounts (Balance Sheet, Profit & Loss, General Ledger).
Annual tax filing
Prepare tax computation, Estimated Chargeable Income (ECI) filing, Form C/C-S.
Preparation of unaudited financial statement
Conduct the statement of financial position, profit or loss, cash flows, change in equity.
Get in touch with BBCIncorp
Frequently Asked Questions
Why should financial companies in Singapore outsource their accounting?
Financial companies in Singapore operate under strict regulations and face unique accounting challenges. Some of these requirements include: all transactions must be recorded in Singapore dollars; allowances, receivables, and payables must be documented; filing specific financial reports; etc.
Outsourcing accounting allows these companies to ensure compliance with industry standards, reduce the risk of errors and penalties, free up internal resources, and gain access to specialized expertise.
What are the key regulatory requirements for financial companies in Singapore?
Financial companies in Singapore must comply with:
- MAS regulations: These regulations cover various aspects of financial services, including licensing, capital adequacy, and risk management.
- Financial reporting standards: Singapore has adopted IFRS, which mandates specific accounting treatments for financial instruments and transactions.
- Anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations: Financial companies must comply with AML/CFT regulations to prevent financial crimes.
What specific accounting challenges do financial companies in Singapore face?
Financial companies in Singapore face a unique set of accounting challenges, including the complexities of:
- Valuing diverse investment portfolios with instruments like derivatives and private equity
- Adhering to evolving regulations from the Monetary Authority of Singapore (MAS); and
- Adapting to new accounting standards, and managing risk effectively while maintaining transparency in their financial reporting.
These complexities necessitate specialized accounting expertise to ensure accuracy, efficiency, and compliance.
Can accounting services help with financial planning and analysis for financial companies?
Absolutely, accounting services can be a valuable asset for financial companies in Singapore. Here's how they can assist with financial planning, analysis, and regulatory reporting:
- Budgeting and forecasting: develop comprehensive budgets and financial forecasts to support strategic decision-making and allocate resources effectively.
- Performance analysis: leverage in-depth analysis of your financial performance, identifying key trends, strengths, and areas for improvement.
- MAS Compliance: Accounting services take care of your financial reporting, making sure they comply with all Monetary Authority of Singapore (MAS) regulations. This includes preparing and submitting accurate and timely regulatory reports.
