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Accounting Advisory
Our accounting advisory team help businesses meet their complex financial reporting requirements. The team can support in applying new financial reporting standards, IFRS/ US GAAP conversions, financial statement preparation, consolidation and more.
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Payroll
Our team can handle your payroll processing needs to help you reduce cost and saves time so that you can focus on your core competencies
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Managed accounting and bookkeeping
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.
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Accounting Advisory
Our team helps companies keep up with changes to international and domestic financial reporting standards so that they have the right accounting policies and operating models to prevent unexpected surprises.
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Crypto Accounting Advisory Service
Our team can help you explore appropriate accounting treatment for accounting for holdings in cryptocurrencies, issuance of cryptocurrencies and other crypto/blockchain related accounting issues.
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ESG Reporting and Accounting
As part of our ESG and Sustainability Services, our team will work with you on various aspects of ESG accounting and ESG reporting so that your business can be pursue a sustainable future.
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Expected Credit Loss
Our team of ECL modelling specialists combine help clients implement provisioning methodology and processes which are right for them.
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Managed Accounting and Bookkeeping Services
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.
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Business Tax Advisory
Our business tax team can help you navigate the international tax landscape, grow through mergers and acquisitions, or plan an exit strategy.
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Corporate Finance
Our corporate finance team helps companies with capital raising, mergers and acquisitions, private equity, strategic joint ventures, special situations and more.
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Financial Due Diligence
From exploring the strategic options available to businesses and shareholders through to advising and project managing the chosen solution, our team provide a truly integrated offering
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Valuations
Our valuation specialists blend technical expertise with a pragmatic outlook to deliver support in financial reporting, transactions, restructuring, and disputes.
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Sustainability with the ARC framework
Backed by the CTC Grant, businesses can tap on the ARC Framework to gain access to sustainability internally, transform business processes, redefine job roles for workers, and enhance productivity. Companies can leverage this grant to drive workforce and enterprise transformation.
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Business Tax Advisory
Our business tax team can help you navigate the international tax landscape, grow through mergers and acquisitions, or plan an exit strategy.
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Corporate Tax Compliance
Our corporate tax teams prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and realise tax benefits.
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Tax Governance
Our Tax Governance Services are designed to assist organisations in establishing effective tax governance practices, enabling them to navigate the intricate tax environment with confidence.
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Goods and Services Tax
Our GST team supports organisations throughout the entire business life-cycle. We can help with GST registration, compliance, risk management, scheme renewals, transaction advisory and more.
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Transfer Pricing
Our Transfer Pricing team advises clients on their transfer pricing matters on and end-to-end basis right from the designing of policies, to assistance with annual compliance and assistance with defense against the claims of competing tax authorities.
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Employer Solutions
Our Employer Solutions team helps businesses remain compliant in Singapore as well as globally as a result of their employees' movements. From running local payroll, to implementing a global equity reward scheme or even advising on the structure of employees’ cross-border travel.
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Private Client Services
Our private client services team provides a comprehensive cross section of advisory services to high net worth individuals and corporate executives, allowing such individuals to concentrate on their business interests.
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Welfare and benefits
We believe that a thriving team is one where each individual feels valued, fulfilled, and empowered to achieve their best. Our welfare and benefits aim to care for your wellbeing both professionally and personally.
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Career development
We want to help our people learn and grow in the right direction. We seek to provide each individual with the right opportunities and support to enable them to achieve their best.
It is safe to assume that for the majority of retail businesses, 2020 has offered some unique challenges. Lockdowns resulting from the COVID-19 pandemic have affected parts of the retail industry differently, with some owners having to close temporarily and some thriving in the new environment.
With people living in lockdown and working from home, the first half of 2020 saw a virtual halt to all non-essential trading. Unlike industries such as aviation and hospitality which have seen a fairly uniform drop in revenue, retail’s fortunes have been decidedly more mixed. While many discretionary stores have been forced to shut their doors, the grocery sector has seen unpredictable spikes in demand and an increased preference among consumers for delivery services. What is certain though, is that nearly every retail business has been affected in some way, and that the global landscape may remain challenging for some time.
Liquidity
A major theme throughout the crisis has been the need for retail businesses to preserve cash and attempt to increase liquidity. All over the world governments have implemented measures allowing businesses to temporarily reduce their operating costs, particularly staff salaries and tax payments. However, these measures will not go on forever. Those retailers with an established online presence have been better able to weather the storm, but with lower profitability per individual sale this may not be a feasible strategy for many businesses.
Cost management
It is common for retailers to carry little cash and have high-fixed costs, which is not a problem in times of regular consumer levels. The pandemic has created a serious strategic imperative to address cost management, with lease, infrastructure and physical footprint emerging as key areas of focus. But stock, property and labour are likely to remain the three largest costs, especially when employee furlough schemes end. Apparel retailers in particular could be sitting on large amounts of unsold seasonal stock, and subsequently, we are already seeing heavily discounted prices among some businesses.
Debt and restructuring
While many landlords and banks are granting payment holidays, there is still a lot of uncertainty about how long many businesses can operate if demand remains low. Any appetite among lenders to reschedule debt payments will depend on what shape they think the business in question is likely to emerge from the crisis in. For many, this has meant putting together funding proposals for shareholders and using insolvency tools to restructure quickly.
Building resiliency
The disruption caused by the COVID-19 pandemic has most likely given a boost to the shift towards online retail, but that doesn’t mean physical stores will disappear overnight. They will have to adapt quickly though, particularly with regards to social distancing and increased cleaning. Most of all, retailers need to make sure their businesses are as resilient and flexible as possible, and reducing physical footprints, growing online, creating a multichannel presence and restructuring are all likely to be important strategies.
The pandemic has provided further demonstration that retailers across the globe need to focus on creating a core group of loyal customers. This is always going to be the best way of dealing with disruption, and we can help you protect your business and restore value.