Get the Exact information by reading this presentation of top accounting mistakes which you should not do. For best results and more information on accounting services visit https://ag-singapore.com/accounting-services/ (the best accounting firm in Singapore).

1. Top 4 Common
Accounting
Mistakes
1. Functional currency
2. Fifo stock policy
3. Inapproopriate accounting
policy
4. Unresponsive accounting
system

2. 1. Functional currency
There is not any fixed
functional currency for
the business registered in
Singapore according to
FRS-21 functional
currency is totally based
on primary economic
environment in which it
operates.
SO this is totally
misconception.

3. In Singapore No
FIFO i.e. first in
first out costing
method was
permitted in the
past. Only LIFO i.e.
Last In first out is
permitted.
2. Fifo stock policy

4. It is not good for any
business or entity to
adopt a wrong
accounting policy such
as sales method is
adopted for
construction project.
3. Inapproopriate accounting
policy

5. For any smooth
business running
process, responsive
accounting is most
important. It gives
you the
opportunities to
best fits your
business model.
4. Unresponsive accounting
system

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EXPERTISE ENSURE QUALITY
ONE-STOP SOLUTION
A+ CUSTOMER SERVICE
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7. For more information on Accounting Singapore, visit
https://ag-singapore.com/accounting-services/
Get In Touch With Us
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 20 Maxwell Road, #04-01G,
Maxwell House, Singapore
069113
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