BizFinx scheduled launch March 3, 2014

ACRA finally launched the XBRL financial reporting platform BizFin^x. BizFin^x will replace the web based FS Manager as the preparation tool. BizFin^x is based on Microsoft Excel for data input, validation and generating of financial report in compliant XBRL format. The XBRL file is subsequently validated online and uploaded to ACRA servers and filed. Some validation issues remain unsolved as at now and these are handled by ACRA on a case by case basis.

ACRA announce launch of BizFinx 3 March 2014

ACRA announced launch of BizFinX; its new business financial information portal on 3rd March 2014. Singapore incorporated companies (unless exempted) will be required to file a full set of financial statements in XBRL based on revised filing requirements through BizFinX. FS Manager will be phased out by midnight 28 February 2014. ACRA postponed twice; previous launches in early september, december last year due to technical issues. This is the third announce and almost 6 months has passed since their first announcement.