Revenue & Asset Recognition for Property Developers – From IAS 11 to IFRS 15

By Lim Ju May Property Developers have reckoned with the accounting for construction contracts for decades. IAS 11 Construction Contracts was first issued in 1979 to prescribe the accounting treatment of revenue and costs associated with construction contracts. IAS 11 aptly named was the eleventh accounting standard issued by the International Accounting Standards Committee (IASC). […]

CLA Global TS Sustainability and Climate Change Lead Elected as ISCA Council Member

[Photo Credit ISCA] Ms Maria Teo, Associate Director, Sustainability and Climate Change Lead, CLA Global TS received the Certificate of Appointment from ISCA President Mr Teo Ser Luck. Ms Maria Teo, Associate Director, Sustainability and Climate Change Lead at CLA Global TS has been elected to the Council of the national accountancy body. Singapore, 3 […]

Navigating Talent Challenges: Innovating and Transforming for Business Relevance

This article was originally published on asme.org.sg on 24 April 2023. Takeaways Accounting firms must adapt to remain competitive and relevant. Use technological tools and tap into alternative resources for recruitment. Collaboration and business transformation are key to success.   By Lee Tze Shiong   Having heard so much about how the world has transformed […]

CLA Global TS Annual Tax Circular 2023

1. ESTIMATED CHARGEABLE INCOME (“ECI”) According to Section 63(1) of the Singapore Income Tax Act (“SITA”), every person (including a company) not being an individual or a Hindu joint family who has not filed a tax return for any year of assessment (“YA”), is required to furnish an estimate of his chargeable income and revenue […]

CLA Global TS renews as Major Partner of the Singapore National Women’s Floorball Team and the Singapore U19 National Women’s Floorball Team

Singapore, 21 March 2022 – CLA Global TS (formerly Nexia TS) and the Singapore Floorball Association (SFA) are pleased to announce the sponsorship renewal for the Singapore National Women’s Floorball Team and the Singapore U19 National Women’s Floorball Team. CLA Global TS has been supporting the Singapore National Women’s Floorball Team since 2017, while 2022 […]

CLA Global TS Commemorates International Women’s Day 2023

CLA Global TS expresses its gratitude to women within the firm and our communities. CLA Global TS Women Leaders and their team of auditors at the firm’s celebratory event. Singapore, 8 March 2023 – In conjunction with International Women’s Day, a day to celebrate the achievements and contributions of women, CLA Global TS (formerly Nexia […]