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Subject Guide for Accounting

This guide contains different resources that will help with your studies on Accounting, This home tab contains resources that would help you keep up-to-date with the changes in accounting guidelines and standards.

Accounting and Corporate Regulatory Authority (ACRA)

With effect from 1 April 2023, the Accounting and Corporate Regulatory Authority (ACRA), the Singapore Accountancy Commission (SAC) and the Accounting Standards Council (ASC) have merged as one entity. The merged entity will take on the name of ACRA.

The Accounting Standards Committee (ASC) is empowered under the Accounting Standards Act to prescribe accounting standards for use by companies, charities, co-operative societies and societies. The broad policy intention is to adopt the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). Convergence with international accounting standards would achieve greater transparency and comparability of financial information among companies and help lower compliance costs for companies investing in Singapore as well as local companies going overseas.

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