Singapore XBRL Filing Services Introduced by Rikvin
Rikvin, leading corporate solution specialist in Singapore now offers Singapore XBRL Filing Services. Singapore XBRL or eXtensible Business Reporting Language is a language for the electronic communication of business and financial data worldwide. It enables the organization and management of financial data for research and analysis. It also facilitates the communication of financial information online and among businesses with significant accuracy and reliability. “Singapore XBRLworks towards streamlined financial reports, a smooth flow of financial information into the international business community and promotion of a pro-enterprise environment. These are the reasons why Accounting and Corporate Regulatory Authority of Singapore (ACRA) embraced XBRL.” Rikvin said. XBRL filing of financial reports were implemented in Singapore companies starting Nov 1 of 2007. However, there are companies that are still allowed to use PDF formats. Companies that are limited by guarantee will be able to continue filing financial statements in PDF format as tabled at the Annual General Meeting; companies that are commercial banks, merchant banks, registered insurers and finance institutions as stated in the MAS Financial Institutions Directory; and all companies that are permitted by law to prepare in accordance with accounting standards other than Singapore or International Financial Reporting Standards. Rikvin also explained the basic requirements for XBRL filing. requirements are as follows: • Director’s Report • Statement by Directors • Independent Auditor’s Report • Statement of Comprehensive Income • Statement of Financial Position • Statement of Changesin Equity • Statement of Cash Flows • All Notes to the Financial Statements • Mandatory Information denoted by a red asterisk in FSManager
“XBRL filing can be time-consuming and daunting processfor many companies. At Rikvin, our professional accounting team can assist companies in preparing their financial statements in XBRLformat proficiently and cost effectively,” Rikvin explained in response to a question regarding the significance of outsourcing XBRLfilings.
About the Publisher: Rikvin has successfully provided foreign and local entrepreneurs assistance to form a Singapore company . The firm provides a full spectrum of corporate services under one roof for Singapore company registration , accounting, tax, work passand related compliance services for individuals and companies worldwide. Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you are in our neighborhood and want to discussany aspect of our service then feel free to come in to our offices during business hours. Appointments are welcome but definitely not necessary. Rikvin PTELTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines: (65) 6438 8887 Fax (65) 64382436 http://www.rikvin.com