How we helped:
Project management and digitalisation - Our project management team oversaw the seamless integration of ABC’s accounting system with the private equity group's requirements. We successfully migrated the on-premise accounting system to a cloud-based accounting system.
Our team carefully analysed and addressed any common misalignments to ensure efficient and smooth operations for both parties.
Backlog and right accounting treatment - Our team worked closely with ABC’s management to identify and rectify any accounting backlogs and deferred revenue issues in their financial records. We also ensured compliance with FRS regulations by transitioning from cash basis to accrual basis accounting.
Cash flow management - We assisted ABC’s management in recording, tracking and monitoring their weekly inflows and outflows. This provided valuable insights into the suppliers and customers that are critical components of the company’s cash management plan.
Monthly management reports and dashboards - We provided ongoing monthly outsourced accounting support for monthly reporting, which included delivering up-to-date financial data through user-friendly dashboards. These dashboards provided clear and comprehensible insights into their profit-enhancement strategies, enabling them to effectively monitor their performance, implement action plans, and make informed decisions to propel their growth.
Annual Compliance – We provided support to ABC in meeting its ACRA and IRAS compliance deadlines. This included the preparation of their unaudited financial report and handling their corporate tax and XBRL filing, ensuring that all necessary requirements were fulfilled on time.
Benefits:
Throughout our engagement with ABC, we established clear communication channels, developed a detailed project plan, and provided ongoing guidance and support to ensure the successful integration of its accounting system with the private equity group’s requirements.
Our dedication to helping ABC’s management team and the private equity group resulted in a smooth transition to cloud accounting, rectification of accounting issues, improved cash flow management, timely compliance with regulations, and user-friendly monthly reporting dashboards.