Having Reliable Accounts And Financial Statements Would Be Key Prerequisite For Business Expansion

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My Corporate Services firm recently onboarded a new accounting client.

He has been in business for a while, and this year is his 9th year in business.

He has been doing his Accounts by himself all these years, and he has recently made up his mind to get his company’s Accounts done by a professional accounting firm.

His business has grown a fair bit over the years, but his company’s bank account did not seem to grow a single bit.

All this while, he would put together financial statements for reporting to ACRA and IRAS using his own “creativities”, but he knew his accounts were totally inaccurate.

He has plans to expand his business, and potentially inviting new investors into his business to help expand it together.

He also has plans to tap on banks to help fund some working capital requirement.

However, he knows jolly well his financial statements were not “able to hold water” upon any form of due diligence.

His decision to come forward to my firm to get his accounts “fixed” is a correct first step.

Your Accounts is like your Speedometer or your car rear mirror, allowing you to know certain “dangers” around your car when it is moving, thereby allowing you to adjust your speed and direction accordingly.

Your Accounts is like your own Medical Report, telling you certain health markers so that you are able to “do something” to your own body to avoid certain sicknesses.

So, in a similar context, if your set of Accounts is not reliable, how can you manage your Business effectively ?

If that is the case, what’s the point of going into an entrepreneurship ?

Starting today, get your Accounts back on track. You will surely thank yourself for doing so next year today.

If you need help, feel free to contact us at :

(M) +65 90880669

(E) [email protected]


Written by Kelvin Loh