Financial Reporting

Professional Accounting and Business Support Services

In a rapidly changing business environment, accurate, transparent, and compliant financial management is central to a company’s healthy development.

Morningstar Asia (MSMC ASIA) is committed to providing businesses with a one-stop professional service from accounting and tax to human resources and visa management, helping you operate efficiently and compliantly.

Financial reporting services

Bookkeeping and Accounting Records: Companies must keep books and comply with relevant accounting procedures in accordance with the provisions of the Thai Civil Code, Tax Code, and Accounting Act. Accounting documents may be written in any language, but must be accompanied by a Thai translation. All accounting entries should be handwritten, typed, or printed.
Accounting Period: The standard accounting period for a business must be 12 months. Newly established companies should prepare their accounts within 12 months of registration. If a company wishes to change its accounting period, it must obtain written approval from the Director-General of the Tax Department.
Statutory Annual Audit: All corporations, partnerships, branches of foreign companies, and joint ventures must prepare financial statements for each accounting period. Generally, the financial statements must be audited and an opinion issued by an authorized registered auditor.

Different entities submit requirements

Private Limited Companies: Directors must schedule an annual general meeting (AGM) within four months of the end of the financial year to approve the audited financial statements. Within one month of the AGM date, the audited statements, supporting documents, and a list of shareholders for the meeting date must be submitted to the registrar.
Listed Limited Companies: Also, an AGM must be held within four months of the end of the financial year to approve the financial statements. Within one month of the meeting, in addition to submitting the audited statements, annual report, and copies of the meeting minutes, the balance sheet must be published in a newspaper for public inspection for at least one day.
Foreign Companies (Branches or Representative Offices): Branch managers must submit copies of the financial statements to the registrar within 150 days of the end of the financial year. These entities do not require AGM approval.
Audit Exemption for Micro, Small and Medium Enterprises (MSEs): Registered partnerships with registered capital of less than 5 million THB, total revenue not exceeding 30 million THB, and total assets not exceeding 30 million THB are exempt from auditing their financial statements by an authorized auditor.

Our Advantages

Strict adherence to Singapore Financial Reporting Standards (Singapore FRS) and International Financial Reporting Standards (IFRS)
Accurate, transparent, and auditable reporting processes
Customized solutions for different industries and company sizes
Audit support and financial analysis to help clients optimize decision-making.

Kindly contact us for expert assistance with preparing financial statements in accordance with applicable accounting standards.

Accounting and Financial Reporting Services

We provide comprehensive accounting and financial reporting support to ensure accurate and compliant accounting and help companies improve operational efficiency. Our services include:

Monthly, quarterly, and annual accounting
Bank reconciliation and general ledger management
Financial statement preparation (Singapore FRS / IFRS)
Consolidated financial statements and management reporting
Fixed asset and depreciation ledger management
Expense control and cash flow analysis
Accounting system setup and optimization (Xero, QuickBooks, MYOB, etc.)
Financial process and internal control design

Kindly contact us for professional assistance in preparing financial statements according to applicable accounting standards.

Why Us?

We uphold the highest standards of accuracy, transparency, and compliance, ensuring every report is auditable. Leveraging our deep understanding of major accounting standards, our team employs tailored and rigorous methodologies to meet your business needs. Through precise reporting and expert insights, we help you identify potential risks, make informed decisions, and earn the trust of stakeholders.

MSMC ASIA

#19-06 160 Robinson Rd, SBF Center, Singapore 068914