Beginner’s Guide to Choosing the Best Accounting Firm in Singapore
More than 400,000 entities have registered with the ACRA. The number of companies in Singapore is at an all-time high, and still more entrepreneurs are eyeing the city-state as their preferred investment destination. With the number of businesses increasing, and every company needing an accountant, it is no wonder that the demand for an accounting firm in Singapore is also at an all-time high.
Accounting firms have CPAs and other accounting professionals that are willing to work for other companies for a fee. These firms help their client companies with the skill and expertise that is needed in their accounting department.
Why Do You Need an Accounting Firm in Singapore?
In Singapore, every company needs to do accounting, ie., produce a profit and loss account and a financial balance sheet. Additionally, every private limited firm in the city-state needs to do an audit on an annual basis.
Furthermore, companies in the city-state need to follow accounting standards, known as the Singapore Financial Reporting Standards (SFRS). In simple words, not everyone can be an accountant in a Singapore company until they understand the standards completely. On the other hand, many companies need a statutory auditor to prepare the annual audit of their firm. Also, together with the accounting records, corporations may need to keep additional records like CEO’s shareholdings, registers of beneficiaries and substantial shareholders, debenture holders, company directors, etc.
Formal accounting requirements aren’t the only reason you need an accounting firm in Singapore. An accountant also needs to analyze the numerical data for the goodwill of the company. They should be able to produce assessments that help in the firm’s growth. The accountant also needs to have adequate legal knowledge because they will have to ensure that the transactions of the firm won’t result in constitutional issues.
Accounting Firms Assign the Best Accountants to Work for You at a Low-Cost
Not every company has the budget and resources to hire a world-class accountant. Moreover, with the best accountants being so high in demand in Singapore, they mostly work on a freelance basis, helping several firms, rather than accepting a job with a salary. On the other hand, some companies may not have complex accounting requirements, but they need to hire an accountant every now and then. In such cases, giving an employment contract to a person would be impractical and costly.
An Accounting firm in Singapore does all the company’s accounting and bookkeeping. Working with them is cheaper as you don’t need to give an employment contract with the CPF benefits. Furthermore, given that accounting is a competitive business in Singapore, accounting firms have to be highly competent to keep their influence. Thus, when you hire the right firm, you get an idea of how the best accountants do their jobs.
Here are the Top 10 Best Accounting Firm in Singapore
There are many accounting firms in Singapore. We worked with industry experts, and some business owners to discuss the best ones among them.
3E Accounting Pte Ltd
|Price Range:||Bookkeeping Services in Singapore (Free AGM) – from $600|
|Company Name:||3E Accounting Pte Ltd|
|Address:||51 Goldhill Plaza #07-10/11, Singapore 308900|
|Phone Number:||+65 6690 9262|
|Operating Hours:||Mon-Fri from 9am to 6pm|
|Key Service(s):||Singapore company structuring and incorporation services, tax management, legal advice, accounting and bookkeeping services, marketing, business registration, offshore company formation, licensing application, immigration, administration, compliance and business advisory support|
3E Accounting Pte Ltd is a leading accounting firm in Singapore. Our team consists of highly experienced professionals with great expertise to register your company. We are a one-stop solution partner for businesses in Singapore as we provide wide-ranging cost-effective services, including company incorporation, nominee director services, business license application, bank account opening, immigration and work pass application, virtual office support, corporate and individual taxation services, corporate secretarial services, accounting services, human resource support, auditing services, business advisory, IT and design service, legal service, software sales and development. 3E Accounting guarantees excellent service to every client as we promise to serve with the 3Es: Efficiency, Effectiveness and Economy to all our clients.
Highlights About the Company
Greatest expertise to serve beyond excellence
3E Accounting members belong to organisations such as the Association of Chartered Certified Accountants (ACCA), the Institute of Singapore Chartered Accountants (ISCA) and the Singapore Institute of Accredited Tax Professionals (SIATP). 3E Accounting has professionals with great expertise who are capable of providing exceptional services to our clients.
Most comprehensive and responsive services
3E Accounting is the first SME accounting firm in Singapore and the region to adopt robotics technology and revolutionise the Accounting and Professional Services Industries. By adapting to the emerging robotics technology, we innovate robots that save 90% of time spent on tasks and increase 3E Accounting’s productivity and efficiency to serve our clients beyond excellence. We have garnered numerous positive reviews from our satisfied customers as we provide the most comprehensive, responsive and fast service in Singapore.
Cost-saving one-stop solution for your business
For cost-conscious companies seeking to register new company corporation in Singapore, 3E Accounting is the one-stop solution for all corporate formation needs. We offer comprehensive accounting-related services that meet the highest standards for professionalism, timeliness and value. Our company provides unsurpassed expertise in all aspects of corporate formation, including accounting, taxation, secretarial, marketing.
3E Accounting has won numerous outstanding awards and gained recognition in the industry. 3E Accounting is led by accredited and experienced professionals. We are an ACRA Approved Corporate Service Provider, ACCA Approved Employer, ATO approved firm to train Chartered Accountant of Singapore under Singapore Qualification Programme (Singapore QP) by the Singapore Accountancy Commission “SAC”, and more. 3E Accounting has also won many awards, such as TAFEP Exemplary Employer Award 2016 and Singapore’s Best Home-grown Global Accounting Network Award.