Rikvin Provides XBRL Filing Service For Companies 

A Company that have a complete benefits that help foreign and local entrepreneurs setting their own business in Singapore.

by Lisa Moore Wednesday, December 15, 2010
Communication is significant. Without it or the lack of it, the situation would be a chaos. Defined as an interaction between two individuals or among people so that something is shared, communication has many forms. It can be action and non-action. It can also be written or oral. All types of communications are invaluable as they make life more meaningful and simpler.

The communication is transmitted in a certain language. Today, there are over 6912 different languages spoken. Nonetheless, the ones majorly used are English, Spanish, French, Chinese, and Arabic.

In business, both written and verbal communications are practiced as well. It also has its own language introduced by a computer technology. Among them is the XBRL or eXtensible Business Reporting Language. XBRL is a method employed to exchange business or financial information.

When applied to a business, XBRL represents each datum as a different entity having its own identity tag. Even huge groups of data can be classified with distinct tags. Common examples are business gains or losses and net profit.

“XBRL allows the organization and management of data for research and analysis,” says Rikvin’s representative adding that the computer language facilitates the communication of information online with accuracy and reliability.

One of the organizations that adopted XBRL in Singapore is ACRA, the national regulating body of business enterprises and profession of public accountants. It employs XBRL as part of its overall strategy to centralize financial reporting and to make possible the flow of financial information into the international business community, thereby promoting business-conducive environment.

Hence, in November 2007, the government of Singapore stipulated that all companies unlimited or limited by shares shall submit financial statements in XBRL format. Companies can adopt either Full XBRL or Partial XBRL.

Rikvin continues, specifying that a company filing an annual return can adopt full XBRL in preparing financial statements if the company utilizes FS manager to prepare the full set of financial statements in presenting them during the Annual General Meeting.

A company filing its annual return may also prepare financial statements using partial XBRL. Nevertheless, a PDF copy of its full set of financial statement is attached. “With partial XBRL option, a company should file a minimum of Statement of Comprehensive Income and Statement of Financial Position.”

Rikvin offers Singapore XBRL filing of annual returns and financial statements as it is a time-consuming process. Rikvin boasts of a team of competent accounting professionals to assist companies in preparing their financial statements in XBRL format with proficiency and cost-efficiency.

About the Publisher:
Rikvin provides corporate solutions to investors and entrepreneurs in the local and abroad. Among its specializations are Singapore company registration and business firm and providing professional services relating to finances and administrative. Rikvin specializes in processing working visas and providing services such as nominee director, nominee shareholder, nominee agents, accounting, payroll, and secretarial.

Since 1995, Rikvin serves hundreds of companies managing and rendering Singapore payroll service using sophisticated payroll software system to handle even the most complicated payroll account. In its payroll services, Rikvin assures its clients of confidence in dealing with every transaction. Its accountants maintain competence. Above all, Rikvin’s principles adhere to the laws and share the same vision such as the inevitability of innovation. Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company.

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.

For more information, visit:
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com
Website: http://www.rikvin.com/

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

General | Categories: financial, business
0    submitted by Lisa Moore
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