by Willie Tan | Apr 3, 2024 | Glossary
Estimated Chargeable Income (ECI) is a term used in the context of Singapore’s corporate income tax system. It refers to an estimate of the taxable income that a company expects to generate for a particular financial year. Companies in Singapore are required to...
by Willie Tan | Apr 3, 2024 | Glossary
The Enterprise Development Grant (EDG) is a government grant initiative in Singapore aimed at supporting local businesses in their development, expansion, and transformation efforts. The grant is administered by Enterprise Singapore, a government agency that champions...
by Willie Tan | Apr 3, 2024 | Glossary
The EntrePass is a type of work pass issued by the Singaporean government specifically designed for foreign entrepreneurs who wish to start and operate a business in Singapore. It is administered by the Ministry of Manpower (MOM) in Singapore. The EntrePass is...
by admin | Apr 3, 2024 | Glossary
A shareholder, also known as a stockholder or equity holder, is an individual, company, or institution that owns one or more shares in a corporation. Understanding the role of shareholders is essential for corporate governance, decision-making processes, and financial...
by admin | Apr 3, 2024 | Glossary
A Share Certificate is a legal document issued by a company to its shareholders as evidence of their ownership of shares in the company. Understanding Share Certificates is essential for shareholders, company officers, and legal professionals to confirm ownership...
by admin | Apr 3, 2024 | Glossary
The Singapore Financial Reporting Standard (SFRS) is a set of accounting principles and standards established by the Accounting Standards Council (ASC) in Singapore. Understanding the SFRS is crucial for businesses and accounting professionals to prepare accurate and...
by Willie Tan | Apr 2, 2024 | Glossary
First in, First out (FIFO) is an inventory valuation method used to determine the cost of goods sold (COGS) and the value of ending inventory. Under the FIFO method, the first items purchased or produced are assumed to be the first ones sold or used, hence the name...
by Willie Tan | Apr 2, 2024 | Glossary
The Financial Year End (FYE) is the date marking the conclusion of a company’s accounting period. It represents the end of the company’s financial reporting year, during which it prepares and presents its financial statements, including the income...
by Willie Tan | Apr 2, 2024 | Glossary
The Employment Pass (EP) is a type of work visa issued by the Ministry of Manpower (MOM) in Singapore. It allows foreign professionals, managers, executives, and specialists (PMETs) to work in Singapore for a specified period, typically up to two years initially, with...
by Willie Tan | Apr 2, 2024 | Glossary
Due diligence is a comprehensive investigation or examination of a person, business, or asset undertaken by a potential buyer or investor before entering into a transaction or agreement. It is a critical process used to assess the accuracy, completeness, and...
