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Rikvin Offers Affordable Singapore Accounting Services A business process non-core outsourced ought not to be expensive, otherwise, it defeats its essence. Accounting services are deemed as non-core. Many a business outsourcing firms have since launched several functions of accounting as among their specializations. In Singapore, Rikvin catalogues bookkeeping and payroll management as among the tenets of its accounting services. “Bookkeeping is never easy. It is very laborious. It requires patience and accuracy,” shares one of the business consultants of Rikvin, “Nevertheless, accountants are not without assistance.” Rikvin’s team of accountants use sophisticated technology in performing bookkeeping. In 2007, ACRA released an announcement to adopt the XBRL format in filing financial accounts. “Beginning November 1st, 2007, all Singapore incorporated companies limited by shares or unlimited should submit their financial statements in XBRL format, a language designed for electronic communication of business and financial data,” explains the male business consultant. There are two ways to adopt the format: Option A and B. In option A, the full XBRL is complied with, while partial format is embraced in Option B. Included in the financial statements are Statement of Financial Position, Statement of Comprehensive Income, Cash Flow, Balance Sheets, and unaudited accounts. There is also the Director’s Report with personal notes to give elaboration on the report. “Each of these statements requires careful craft. It must be perfected with accuracy and true representation of the company’s financial position. It cannot lie,” says Rikvin. When availed of its accounting services, it shall assign an account manager to assist in bookkeeping such as financial analysis, management reporting, books cleanup, bank reconciliation and maintenance in general ledger, accounts payable and receivable ledgers. “We also participate in drafting the Financial Statements and Reports for monthly, quarterly, and year-end review,” adds Rikvin. Moving on, Singapore payroll management is another of its expertise. In Singapore, the government opts not to implement a law specifying the basic remuneration rates owing to good competition in the city-state and its penchant in attracting foreign talents. Chimes Rikvin: “Employers are not allowed to make deductions from their employee’s salaries unless authorized. In fact, some payroll accounts may incur add-ons like performance bonus, overtime pay, salary adjustment, allowances, and other benefits.” In some companies too, the distribution of wages can be monthly, bi-monthly, weekly, and bi-weekly. Rikvin assures that its payroll software is state-of-the-art allowing them to process accounts from simple to the most complex. Founded in 1998, Rikvin’s accountants are abreast of the latest applications, theories, and approaches in accounting. It advocates innovations. It encourages its team members to enhance their skills to remain qualified to offer specializing services to clients. About the Publisher: Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company. The company provides complete corporate solutions to investors and entrepreneurs both local and abroad. Among its


specializations are Singapore company registration, Singapore company setup and providing professional services relating to financing and compliance services. Rikvin assures its clients of confidence in dealing with every transaction. Its employees maintain competence and above all, Rikvin’s principles adhere to business ethics and all applicable laws. Its goal is to provide a highly personalized and professional service worthy of our clients loyalty. “Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.� For more information, visit: Rikvin PTE LTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines : (65) 6438 8887 Fax : (65) 6438 2436 Email : info@rikvin.com Website: http://www.rikvin.com/


Rikvin Offers Affordable Singapore Accounting Services