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Financial Reporting Practice Guidance
05/08/2020
Important Guidance to Directors (And Accountants) : Impact of Covid19 Pandemic on Financial Statements Financial reporting practice guidance no. 1 of 2020 (issued on 22 may 2020) – Proposed areas of review focus by directors on the financial statements affected by the covid-19 pandemic
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Reaching Out to Retrenched Workers
04/08/2020
Companies can try to be onboard SGUnited Jobs and Skills Package to offer traineeships and jobs with subsidies from government. Retrenched workers: Govt will be generous with support but firms also need to ‘play ball’, says Tharman
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Non-compliance of Income Tax & GST laws
04/08/2020
Need help with compliance to Income Tax and GST laws? Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for prompt assistance. Two Directors of Plastic Cards Company Convicted for Income Tax Evasion and Failure to Register for GST
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Best World’s Shares Remain Suspended
03/08/2020
Case: Auditors gave disclaimer of opinion on Best World’s financial statements for FY2018. Best World must address concerns over accounting practices: SGX
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Assistance and Upskilling Programmes
03/08/2020
Government schemes to boost employability of local workforce: What help is there?
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Worst-Ever Quarterly Fall in Employment
03/08/2020
Big quarterly fall in employment even as the Covid19 pandemic takes its toil on businesses and layoffs increase: Singapore sees worst-ever quarterly fall in employment in Q2 as retrenchments double: MOM data
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Unfair Retrenchment Process
02/08/2020
Fair retrenchment process needs to be practised, even amidst the economic storm caused by Covid-19: NTUC, unions stepped in to stop unfair retrenchment by aircraft maintenance firm; industry action averted
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SG United Jobs Traineeships Scheme
01/08/2020
SG United Jobs Traineeships Scheme: Mid-career job seekers can apply for more than 13,000 work attachments from Aug 1
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Non-compliance of GST laws & regulations
01/08/2020
GST Compliance causing you a headache? Outsource your problems to us! Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for proper lodgement and registration of GST. Restaurant Director Convicted of Unlawful Collection of GST and Failure to Register for GST
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Unemployment rate on the rise
31/07/2020
Unemployment rate will be on the rise in coming months as JSS support is meted out completely amidst persistent Covid19 storm. Retrenched workers: Govt will be generous with support but firms also need to ‘play ball’, says Tharman
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Insolvency, Restructuring and Dissolution Act
30/07/2020
The Insolvency, Restructuring and Dissolution Act, which will replace the repealed Bankruptcy Act, will commence 30 JUL 2020
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Cost & Consequences of Poor Disclosure
30/07/2020
Approach us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for properly prepared financial reporting as in line with Singapore Financial Reporting Standards. Poor disclosure not only hurts shareholders, but can cost companies too
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Tripartite Guidelines on Re-employment
30/07/2020
Tripartite Guidelines on the Re-employment of Older Employees
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Huge GDP shrinkage in Qtr 2 for SG economy
29/07/2020
Huge GDP shrinkage in Qtr 2 for Singapore’s economy. Singapore enters recession with record 12.6% GDP fall in Q2
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Responsible re-employment
29/07/2020
Article for MOM guidelines on re-employment of Mature workers who turn 62 years old, up to the age of 67. Responsible re-employment
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ZenRock – “Questionable” Transactions
28/07/2020
Another financial investigation case which may threaten to send ripples through the local financial sector. ZenRock interim JMs flag doubtful trades, invoices, cash transactions
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Government Paid & Extended Child Care Leave
28/07/2020
Under Extended Childcare Leave, Singapore Citizen employees can enjoy 2 DAYS of government-paid childcare leave if their youngest child is between 7 and 12 years old. Government-Paid Child Care Leave (GPCL) & Extended Child Care Leave (ECL)
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Review of Credit for Businesses
27/07/2020
Credit for businesses may be gradually tightening by the financial institutions. MAS, banks to study how best to wean companies and individuals off Covid-19 relief measures: Ravi Menon
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Room for Improvement in Quality of FS
27/07/2020
We can help you prepare proper financial statements in compliance to accounting standards! More local companies not getting clean audit opinions, says ACRA
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Economic Recession Following Circuit Breaker
25/07/2020
Due to 2-month Circuit Breaker, Singapore Qtr 2 GDP shows serious economic recession. Singapore Slumps Into Recession With Record 41.2% GDP Plunge
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