Accounting and Corporate Services (startups and small enterprises)

Mckell Internal Audit and Risk Consulting – Corporate Services Division (Business registration no: 53269180J) serves to assist small sized and start-up entrepreneurs to meet regulatory filings and compliance requirements at affordable costs.

1. Bookkeeping

Every company is required by Singapore Companies Act to keep proper records and accounts.
As we use online and cloud-based accounting software like Xero and Quickbook for bookkeeping, the entire process can be completed efficiently up to the stage of balance sheet, profit and loss statement, trade debtors aging report and bank reconciliations.
Bookkeeping is not just about recording receivables / receipts and payables / payments because period-end accruals should also be included according to the requirements of the Singapore Financial Reporting Standards.
Only management accounts that are prepared according to the accrual basis of accounting are considered as proper accounts and they facilitate the preparation of financial statements – see (2) below.

2.Financial Statements Compilation

Bookkeeping is the first step that needs to be done for the preparation of the financial statements.
Every company is required by law to prepare financial statements according to disclosure requirements of the Singapore Financial Reporting Standards (FRS) and Companies Act.

3.Management Accounting and Business Analysis

An extension of the financial accounting services. Key difference between financial and management accounting can be summarized as follows: Financial accounting is required by law to present financial statements and reports for external stakeholders and regulatory authorities whereas management accounting provides and analyzes financial information for management within an organization for decision making. We can support your internal needs by preparing the following management reports:

3.1 Sales and costs forecasting reports
3.2 Budget analysis reports that communicate trends and variances
3.3 Feasibility studies (e.g. Investment analysis using NPV methodology or ROE analysis)
Management accounting tools and methods are not confined within any regulatory framework. The sky is the limit because as long as they are logical in the business context, they can be used and applied toward the long-term growth and sustainability of the organization. Feel free to explore with us.

4. Corporate Governance
We act as company secretary of your company to fulfill all compliance and corporate governance requirements as prescribed by ACRA.

5. Tax Services

Full spectrum of taxation services including advisory is provided through our tax associate who is an ATA (-Accredited Tax Adviser) qualified tax professional with considerable years of tax practices experience in a Big Four firm.

Business Contact as follows: Email: [email protected] Business HP: 9620 4854