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  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...

Do companies need XBRL filing services Singapore? Yes, they need these experts to comply with the prevailing regulatory requirements. As per the Companies Act, Singapore private companies (limited or unlimited by shares) need to file their annual returns with ACRA. It involves submitting their financial statements (if applicable). And unless exempted, they have to file these documents in XBRL format. XBRL Filing for Singapore Companies A company director or company secretary can use ACRA's web portal to submit an annual return and XBRL report. However, many companies prefer to appoint a registered filing agent to do so. It is a time-consuming task involving preparation and converting financial statements in XBRL format. The chances are that you may only have to submit an online declaration at the time of filing an annual return. However, if you need to submit a full set of FS in XBRL format, you must prepare and validate them before filing the annual return. XBRL Conversion While p...