About KCHo

This author has not yet filled in any details.
So far KCHo has created 152 blog entries.

What is a Data Protection Officer?

Under the Personal Data Protection Act (PDPA), organisations are required to appoint at least one person as the Data Protection Officer (DPO). The broad role of the DPO is to ensure that the organisation complies with the PDPA. The DPO can either be a person from within the organisation or the organisation can appoint a [...]

2020-11-14T13:16:20+08:00July 13th, 2020|

Does my company need to appoint an auditor?

If your company qualifies as a small company, then it does not need to appoint an auditor. The company qualifies as a small company if: 1) For a particular financial year, it is a private company; and 2) If it meets 2 of the 3 following criteria for the immediate past two consecutive financial years [...]

2020-11-14T13:18:12+08:00July 13th, 2020|

Guide To Balance Sheet For Small and Medium Business Owners

A Balance Sheet, taken along with the Profit & Loss Statement and Cashflow Statement gives you a clear indication of your business’s financial health. You can think of the Balance Sheet as a scorecard that tells you about the financial health of your business at any given point in time. On it, it will have [...]

2020-11-14T13:18:50+08:00July 13th, 2020|

How To Select The Best Accounting Software For Your Business

As an entrepreneur, it is very important for you to keep track of your money inflow and outflow. You need to be able to analyze your business’s financial health from different aspects. Your analysis is only as good as the quality of your data input. It is critical to get started with the right accounting [...]

2020-11-14T13:20:31+08:00July 12th, 2020|

Guide To Statement Of Cash Flow For Small And Medium Business Owners

Keeping an eye on your business cash flow is without a doubt a key component to monitoring the financial health of your business. Running short of cash is one of the most common causes of business failure for start-ups. The statement of cash flows, also commonly known as the cash flow statement, is the report [...]

2020-11-14T13:22:59+08:00July 10th, 2020|

An Introduction To Depreciation And Amortization

Buildings, machinery, renovations and computer peripherals are an example of tangible assets that will last your business more than one year of usage. But not indefinitely as they will eventually become obsolete, thus we depreciate these assets' value over the term of their useful life. For intangible assets such as intellectual property and brands equity, [...]

2020-12-15T12:10:51+08:00July 10th, 2020|

Can an EP holder be a director of a company?

Employment Pass (EP) holders are allowed to be directors of the company which their EP is tied to. An EP holder is only allowed to work for the employer specified on the EP. Thus, if the employer would like an EP holder from within the company to take on a directorship, he can do so. [...]

2021-01-09T13:59:35+08:00July 9th, 2020|

What are the differences between a board resolution, an ordinary resolution and a special resolution?

A resolution of a company is the formal decision of a company made by the board of directors or the shareholders. There are generally 3 types of resolutions that can be passed. Board Resolution Ordinary Resolution Special Resolution The resolution can be passed at a physical meeting or by written means. Since it can be [...]

2021-01-09T14:02:47+08:00July 8th, 2020|

How to increase the paid up capital of a company after incorporation?

For a variety of reasons, a company's paid-up capital may need to be increased. As the paid-up capital shows the financial strength of a company, there may be instances whereby a company may need to increase the paid-up capital before tendering for certain projects. Also, there may be investors who may inject money into the [...]

2021-01-09T14:06:01+08:00July 8th, 2020|

What is a Managing Director?

The term managing director is often used to refer to a senior executive member of a company. The job scope of the managing director is not spelt out in the Companies Act. However, there is an option to list an individual as a managing director of a company in Bizfile+, the business filing portal of the Accounting [...]

2021-01-09T14:08:32+08:00July 8th, 2020|
Go to Top