AUnaudited Financial Statements— It is a financial report which includes a profit and loss report, balance sheet, compliance notes and director’s report, and statement.
SME is required to present the following documents to ACRA:
– Profit and Loss shows the company sales, expenses, and profit over a given period of time.
– Balance Sheet specifies assets, liabilities, and equity The financial statement may also include:
– Cash Flow statement.
– Notes to Financial Statement.
These are the conditions that your business has to satisfy for the preparation of unaudited financial statements:
0 corporate shareholders and no more than 20 individual shareholders and.
Turnover of S$5 million or less in a year, or
The dormant company, OR otherwise you need to appoint an auditor no later than 3 months after the company formation and provide audited accounts on annual basis.