XBRL Services

It is hard, even for computer programs, to analyse data filed in different formats and sequences. It is why ACRA has made XBRL filing mandatory for Singapore companies.

This filing standard uses special tags to identify specific items in financial statements. It is called data conversion, and XBRL filing services Singapore assists with it. Converted data is easy for a computer program to parse.

Data submitted in a uniform and structured format is accessible to mine, analyse, and make sense of. Financial experts, institutes, and government agencies use it to identify trends.Where can I find the XBRL filing service in Singapore?

You can find the best XBRL filing service right here. RMS is a reliable XBRL filing service in Singapore.

Our accountants review your financial documents and convert them to the format fit for XBRL reporting. They use appropriate XBRL tags and data elements to convert the data accurately. They prepare an XBRL report for you to submit to ACRA during annual return filing.

XBRL reporting in Singapore is a part of company's annual return filing. So it is done only once per every financial year.

Singapore companies need to convey and hold their Annual General Meetings (AGM) as a part of their compliance. They also need to table their Financial Statements (FS) to the AGM.

Within a month of AGM, they have to file their FS to ACRA as part of their annual return filing. This is when they need a provider of XBRL filing services Singapore to help them convert their data and in XBRL filing.

Singapore companies must use the revised XBRL filing requirements that came into force on 1 May 2021. At the end of their financial year, they have to convey and hold their Annual General Meetings (AGM) as a part of their compliance.

The management must prepare Financial Statements (FS) to let the shareholders (AGM) know about the company's financial position. After the AGM, they have to convert these documents using XBRL format and file them as part of their annual return with ACRA.

A company's full XBRL reporting includes,

• Balance sheet
• Auditor's report
• Income statement
• Cash flow statement
• Director’s report
• Statement of Changes in Equity
• All Notes to the FS
• Information marked with a red asterisk in FS Manager

Many companies appoint accounting firms that provide XBRL filing services in Singapore. This task needs accounting and knowledge of XBRL tags, elements and taxonomies.