Reading time 8 min read
An overview of the Singapore Financial Reporting Standards and what your accounts must include each year.
Singapore companies prepare financial statements under the Singapore Financial Reporting Standards. Smaller companies may qualify for the simplified SFRS for Small Entities, which reduces disclosure requirements without compromising reliability.
Required components
- Statement of financial position.
- Statement of profit or loss and other comprehensive income.
- Statement of changes in equity.
- Statement of cash flows.
- Notes to the financial statements.