Filing of Financial Statements in XBRL Mode
XBRL filing services Singapore help companies in complying with the ACRA rules. The purpose of filing financial statements in revised XBRL format is to collect data in a consistent form. The data accumulated through XBRL filing is relatively easy to manipulate and mine. It can be processed to reveal market trends. The insights gleaned are helpful. The financial institutes, experts, and government agencies use them to make predictions. In Singapore, XBRL filing is mandatory for private companies limited or unlimited by shares. If you run such a company, you will need to do accurate XBRL filing to comply with ACRA's directives unless exempted. However, the first question that you should ask is, "Do I need to do XBRL filing for my business?" Do I Need to do XBRL Filing for My Business? If your business is classified as a 'SMALL COMPANY', it means that it's: Annual revenue is S$10 Millions or less Total assets are S$10 Millions or less Employees are 50 or less i...