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Services

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Overview

Mighty Glory Corporate Solutions provides a comprehensive range of accounting services. Our suite of business outsourcing services provides a cost effective and efficient way to oversee your company’s accounting matters. This ensures your compliance with Singapore’s statutory and regulatory responsibilities so that you can concentrate on other aspects of your business.

setup-and-implement
Setup and Implementation

A pre-implementation analysis is performed to understand your business operation.  This also promotes your understanding on the current processes, implications to the financial performance and identify the areas for improvement and monitoring.

Subsequently, we would set up and implement the digital solution, followed by training and support.

After implementation, ongoing support is to ensure that the adopted systems are functional.

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Accounting and GST Return

Singapore Companies Act stipulates that all Singapore-registered companies must keep proper accounting records.  Proper bookkeeping not only assists in giving quick replies for emergency use and facilitates in deriving results for periodical GST submission, but also provides perception for good decision making and financial management.  If your management accounts are prepared in-house, our professional accountants will extract correct information to fill in the respective fields in the GST submission form.

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Human Resources

Singapore Employment Act requires employer companies to distribute salaries within 7 days after the end of the salary period.  The many other requirements under Singapore’s statutory regulations include distribution of itemised payslips to employees, submission of Form IR21 for leaving foreign employees and annual declaration of employees’ income and benefits.  For many other reasons, the preparation of payroll computation, payment of salaries, submission of CPF contributions and other HR administrative tasks must be handled carefully within the stipulated timeline. 

It is common that many Small and Medium Enterprises (SMEs) outsource this time-consuming and complicated function to service providers.  Our team ensures that all computations are accurate and all procedures are performed accordingly.  Please do feel free to contact us to check on the full spectrum of payroll services available.

business analysis
Review of Management Accounts

Your junior staff has basic accounting knowledge.  To maintain his soft skills as a great employer and maximise the value of the employment costs paid, the junior is authorised to prepare the management accounts with the in-house system.  To ensure that the results are in compliance with Singapore’s accounting standards, you may consider hiring our professional service to review the accounts to get the peace of mind that the accounts are accurately prepared.

IFRS
Financial Reporting (Compilation)

Most Singapore-registered companies are not required to engage audit service if they met certain conditions under the regulations of The Accounting and Corporate Regulatory Authority (ACRA).  Exempt Private Companies (EPCs) only require to prepare unaudited financial statements for statutory filing purposes.  Inactive or dormant companies are also exempted from filing audited financial reports. Our members can compile your annual accounting information into unaudited financial statements for submission to ACRA and Inland Revenue Authority of Singapore (IRAS).

XBRL
XBRL Reports

XBRL is a language used to present financial statements in computers so that they can be retrieved from online records and transferred directly to users such as auditors, regulators and financial analysts for various purposes.

All Singapore incorporated companies (unless exempted, as per ACRA’s regulations), either unlimited or limited by shares, are required to file a full set of financial statements with ACRA in XBRL format.

Taxation in Singapore
Taxation (Corporation and Individual)

Reporting incomes derived in Singapore to IRAS is one of the statutory requirements for every business entity and individual.  Every transaction has direct or indirect tax consequences. What tax incentives are available if your business plan to invest in specific assets?  How does the change in tax regulations affect your business?  Come and meet us for a discussion. We are most glad to assist you in achieving tax efficiency.

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Partners’ Solutions

Singapore government has been encouraging local companies to participate in digital transformation.  The adoption of digital technology improves the operational productivity and assists in the company’s growth towards the digital era.  As a corporate service provider, we are privileged to share that our firm is part of these famous solutions such as Xero, Hubdoc, HReasily and more.

Community
Services Provided by Affiliates

It is easy to find a particular product or service in a business hub, like Singapore.  However, it is challenging to identify suitable parties who provide affordable services and value-for-money items in the industry.  To remove the hassle, we are very glad to introduce our Affiliates’ services to resolve your business needs in diverse areas.

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