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What is ASK and How Do Businesses in Singapore Benefit from It?

By |2019-10-29T11:10:02+08:00October 25th, 2019|General, Goods and Services Tax (GST)|

ASK stands for Assisted Self-Help Kit and it is a program developed by the Inland Revenue Authority of Singapore (IRAS) to help businesses in assessing the accuracy of their Goods and Services Tax (GST) filings. ASK may be implemented by businesses in Singapore voluntarily, or the IRAS may also invite [...]

Singapore Land Frenzy Slows After Property Curbs

By |2019-08-20T23:38:39+08:00September 17th, 2018|Asia, Corporate Advisory, Corporate Assistance, Family Business, General, Private Business|

The bidding frenzy for Singapore land has slowed to a trickle, going by the results of the first auctions since property curbs were tightened. Just three bids were submitted for the Jalan Jurong Kechil site in the island’s northwest, compared to 24 received in April last year for the nearby [...]

Failed Corporate Governance: Handmaiden of Financial Fraud

By |2019-08-20T23:38:40+08:00July 18th, 2018|General|

Financial reporting frauds (also called management frauds) have become endemic, with huge losses being inflicted upon shareholders, creditors and others.  Some of the most infamous frauds of the past two decades – Enron, WorldCom, Satyam, Olympus, Toshiba, and Parmalat being a small sample – have implicated the same key concerns.  [...]

IFRS for Small and Medium-Sized Entities

By |2019-08-20T23:38:42+08:00June 19th, 2015|General|

On July 9, 2009, the International Accounting Standards Board (IASB) issued International Financial Reporting Standards (IFRS) for Small and Medium-Sized Entities (SME). The stated goal of the standard is to provide a simplified, self-contained set of accounting principles derived from the full IFRS to be used by smaller, non-listed companies. [...]

Legal and Accounting Pitfalls For Buyers and Sellers

By |2019-08-20T23:38:42+08:00June 19th, 2015|General|

Dr Barry Jay Epstein, Accounting Expert at Epstein + Nach LLC   Earn-out agreements (“earn-outs”) are common features of business acquisitions, and indeed may be necessary in bringing a proposed transaction to fruition. Particularly when the sought-after price is predicated on the business’ very recent record of success, [...]

Accountants Urged to Consider Information Overload

By |2019-08-20T23:38:42+08:00June 19th, 2015|General|

A recent report by the New Zealand Institute of Chartered Accountants (NZICA) and the Institute of Chartered Accountants of Scotland (ICAS) to the International Accounting Standards Board (IASB) has raised significant issues regarding the matter of information overload (Joint Oversight Group 2011).[1] Excruciatingly detailed financial reports have long been intuitively [...]