Rikvin Presented Their XBRL Filing Services XBRLeXtensible BusinessReporting Language is defined as a language for the electronic communication of business and financial data worldwide. XBRL is open-source software that enables the organization and management of financial data for research and analysis. It also facilitates the communication of financial information online and among businesseswith significant accuracy and reliability. Rikvin, a Singapore based corporate solutions provider recognized the importance of XBRLthus resulting to an offer for Singapore XBRLService. According to Rikvin, Accounting and Corporate Regulatory Authority of Singapore (ACRA) has adopted XBRL as part of its overall strategy to streamline financial reporting and to enable the flow of financial information into the international businesscommunity, and thus promoting a pro-enterprise environment. “Note that all Singapore incorporated companies, which are unlimited or limited by shares, must submit financial statements in XBRL format,” Rikvin said. Rikvin also presented the two options available for filing financial statements in XBRL: Option A _Full XBRL and Option B _Partial XBRL. The following requirements were also mentioned and discussed separately: • Director’s Report • Statement by Directors • Independent Auditor’s Report • Statement of Comprehensive Income • Statement of Financial Position • Statement of Changesin Equity • Statement of Cash Flows • All Notes to the Financial Statements • Mandatory Information denoted by a red asterisk in FSManager Rikvin concluded by giving a brief explanation why there is a need to outsource XBRL Services. “XBRL filing can be time-consuming and daunting process for many companies. At Rikvin, our professional accounting team can assist companies in preparing their financial statements in XBRL format proficiently and cost effectively,” Rikvin said in conclusion. About the Publisher: Rikvin is a Singapore-based consultancy that offers businesssolutions for both local and foreign professionals, investors and entrepreneurs. Rikvin’s areasof expertise include assistance to incorporate a Singapore company, offshore company setup, Singapore work visa, and other related corporate services. Rikvin also provides immigration services for foreign professionals wishing to relocate to Singapore.
Rikvin PTELTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines: (65) 6438 8887 Fax (65) 6438 2436 http://www.rikvin.com