Announcement Details

Getting More Value out of XBRL Filing


Free Data Analysis Report now available to all SingPass holders
With immediate effect, ACRA is granting access to all SingPass holders to tap a free data analysis service on the BizFinx portal. The access allows users to generate a Free Data Analysis (FDA) report that was previously available only to company directors and secretaries of companies that file XBRL financial statements with ACRA.
 
The FDA report provides analysis on four key financial ratios which covers:
  • Trend analysis up to 5 years on the performance of a selected company; and
  • Benchmarking your selected company’s performance against industry medians and up to 3 peer companies
 
To use the FDA tool, please visit the BizFinx portal and log on with your SingPass credentials.
 
More Help in Preparing 2nd Year XBRL financial statements
To help companies better prepare their XBRL financial statements with the BizFinx preparation tool, new tips and guidance have been developed. They were developed based on public feedback and past reviews of XBRL financial statements filed with ACRA.
 
Companies can also refer to an updated list of common errors when preparing their XBRL financial statements. The list was compiled based on past reviews of companies’ XBRL financial statements filed with ACRA and is not meant to be an exhaustive list. Companies should exercise due diligence in ensuring high quality of their filings with the Registrar.