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News  9, Jul 2012

Accounting workshop for startups by Plug-In@Blk71

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One of the crucial component of a successful business is managing the accounts. For new startups, mismanagement of monetary issue could be disastrous.

NUS Enterprise, in collaboration with WLA Regnum, is organizing an accounting workshop for companies and startups. The workshop, which will be held at Plug-In@BLK71, will shed some lights on accounts management for startups. Some of the topics that will be covered includes:

Management accounts
• Preparation of management accounts (balance sheet, income statement and schedules e.g. bank reconciliation)
• Generally for management to have an idea on their financial position in terms of cash expenses and net profit etc
• Specific purpose e.g. agencies funding grants e.g. SPRING, EDB or financing (banks or potential investors)

Compilation Accounts:
• To be completed for purpose of ACRA filing*.
• Directors to declare compilation accounts prepared in accordance with Companies Act.
• Draft compilation accounts to be approved at Annual General Meeting (“AGM”)*
• In accordance with Singapore Financial Reporting Standards (“SFRS”)

Taxation
• Filing of Estimated Chargeable Income (“ECI”) – based on latest management accounts and directors’ estimate of income for the year
• Filing of Form C – Based on final compilation accounts

The format is simple, there will be a one hour workshop, followed by another hour for questions.

Event Details:

Date: 11th July 2012

Time: 3pm – 5pm

Venue: Plug-In@Blk71

Address: 71 Ayer Rajah Crescent #02-18 Singapore 139951

RSVP: www.blk71.com

Jacky Yap

Jacky Yap

Having spent one year abroad in Shanghai under the NUS Overseas College Programme, Jacky has an avid interest in entrepreneurship and web based startups. Jacky used to run N-House, Singapore's first entrepreneurial themed residence in NUS, and was also part of the organizing team for Startup Weekend Singapore 2012. You can reach him at jacky [at] e27 [dot] co

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