What is the Difference between Sole Proprietorships, Partnerships and Limited Liability Companies?

What is the Difference between Sole Proprietorships, Partnerships and Limited Liability Companies?

Sole Proprietorship A sole-proprietor is a person who owns a sole-proprietorship business that is registered with the Accounting and Corporate Regulatory Authority (ACRA). A self-employed person is a person who earns a living by carrying on a trade, business, profession or vocation. A sole-proprietor/self-employed person do not report to a boss, because he is his…

Recognised Accounting Degrees for Practicing as a CA in Singapore

Recognised Accounting Degrees for Practicing as a CA in Singapore

The Accounting and Corporate Regulatory Authority (ACRA) lists the recognised professional qualifications for registration as a public accountant. To be practicing Certified Public Accountant (CPA) in Singapore, an applicant must at the time of his application for registration (a) have passed the final examination in accountancy of one of the following: (i) the Singapore Polytechnic…

What are independent auditors?

What are independent auditors?

Independent CPA auditors are like referees in the financial reporting arena. The CPA comes in, does an audit of the business’s accounting system and methods and gives a report that is attached to the company’s financial statements. Publicly owned businesses are required to have their annual financial reports audited by independent CPA firms and any…

Careers in Accounting

Careers in Accounting

There are many different careers in the field of accounting ranging from entry-level bookkeeping to the Chief Financial Officer of a company. To achieve positions with more responsibility and higher salaries, it’s necessary to have a degree in accounting as well as achieve various professional designations. One of the primary milestones in any accountant’s career…

Accountancy in Singapore

Accountancy in Singapore

An accountant is a practitioner of accountancy, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and other decision makers make resource allocation decisions. Accountants are vital business assets. They play a key role in commerce, industry and organizations large and small. Accountants often carry fancy…