Question 1

1. Annual Financial Statement Preparation

Accepted Answer

Balance Sheet: Displays the company’s financial position on a specific date, including assets, liabilities, and equity.

Income Statement: Reflects the company’s income, expenses, and profits over a specified period.

Cash Flow Statement: Tracks the company’s cash inflows and outflows, analyzing sources and uses of funds.

Notes and Disclosures: Provides necessary notes to ensure transparency and compliance of the financial statements.

Question 2

2. Management Reporting

Accepted Answer

Regular Financial Analysis: Swift provides monthly or quarterly management reports that analyze key financial indicators and business performance.

Budgeting and Forecasting: Swift assists in preparing budgets and provides financial forecasts to support business decision-making.

Question 3

3. Audit Support

Accepted Answer

Audit Preparation: Swift assists in preparing documentation and materials required for audits, ensuring the accuracy and compliance of all records.

Communication and Coordination: Swift maintains communication with external auditors to address any issues that may arise during the audit process.

Question 4

4. Tax Filing

Accepted Answer

Corporate Income Tax Filing: Swift prepares and submits corporate tax returns, ensuring compliance with Singapore tax regulations.

GST Filing: Swift manages Goods and Services Tax (GST) filings and compliance matters.

Question 5

5. Financial Analysis

Accepted Answer

Performance Evaluation: Swift provides in-depth financial analysis and insights to identify cost-saving opportunities and revenue growth potential.

Risk Management: Swift analyzes financial risks and provides strategies to ensure sustainable business growth.

Question 6

6. Consulting Services

Accepted Answer

Financial Consulting: Swift offers tailored financial management advice based on industry best practices to optimize financial processes.

Compliance Consulting: Swift ensures your financial reporting adheres to relevant Singapore laws and regulations, reducing compliance risks.