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Final bidder submits SGD5.5 billion plan for Singapore casino

Wednesday, November 1, 2006

The third and last bidder for Singapore’s Sentosa Integrated Resort (IR) project, Eighth Wonder, submitted its development plan yesterday: a SGD 5.5 billion(USD 3.52 billion) eco-friendly casino known as “Harry’s Island”.

Harry’s Island will boast 10 luxury, family-oriented hotels, a tree house with family suites, and a 7,500-seat Caldera theater which will feature nightly spectacular shows.

Eighth Wonder says it wants to make Harry’s Island a world-class, must-see tourist destination and has roped-in several big names in its tender. If selected, the resort will have spas and health centers run by health guru Deepak Chopra, Vera Wang hotels with access to her entire wedding collection, and a soccer academy with Brazilian soccer icon Pele giving his input.

Harry’s Island will create around 15,000 jobs, including 5000 in the food and beverage industry.

The company believes it can recover its investments by 2015 by generating over $5.6 billion in five years; it hopes to bring nearly 15 million visitors annually by 2014.

The Sentosa IR project is the second of two IR tenders offered by the Singapore Government: the first was located in Marina Bay.

The Singapore government is expected to announce the winner in December.

Retrieved from “https://en.wikinews.org/w/index.php?title=Final_bidder_submits_SGD5.5_billion_plan_for_Singapore_casino&oldid=435586”

Winter, dolphin with prosthetic tail, dies at 16

Monday, November 15, 2021

Winter, the dolphin who starred in the Dolphin Tale movies, died Thursday night at the age of 16 as the result of a twisted intestine, according to a release on Saturday by the aquarium Winter called home.

Clearwater Marine Aquarium said in a statement that there was nothing veterinarians could do as a dolphin’s intestines are in an area that it is not possible to reach through surgery. They noted that the condition is found in dolphins “as well as any living being with intestines.”

Winter had been an inspiration to fans and visitors after her tail was amputated as the result of an entanglement in the wild. This cause of death determination comes after Dr. Buddy Powell, the president of Clearwater Marine Aquarium, called Winter’s continued survival a “medical marvel” and said in a statement Friday that the aquarium would be performing a necropsy to confirm the precise cause of death.

Winter’s intestinal issues were first discovered on November 1 when Winter showed a lack of appetite; her condition did not improve with treatment. A memorial is scheduled to take place on November 20.

Retrieved from “https://en.wikinews.org/w/index.php?title=Winter,_dolphin_with_prosthetic_tail,_dies_at_16&oldid=4655101”

How To Prepare For Gum Grafting

byadmin

Your gums are an important tissue of the oral cavity. This tissue helps support the teeth and defines the beginning of the internal parts of your teeth. Over time, bacteria can accumulate on your gums. This can cause irritation, bleeding, and swelling. Disease such as gingivitis can occur in your gums. These and other situations can render the need for Gum Grafting. Learn how to prepare for this surgery, so you can spend your postoperative time recuperating.

[youtube]http://www.youtube.com/watch?v=da87daIONvs[/youtube]

Since Gum Grafting can take a few days to recuperate from, it’s important to get ready for the procedure. Ensure that you understand the entire procedure and possible complications. Talk to the dentist or a member of his support team about this subject. A dentist will usually give literature to a patient who is about to undergo this process. Read all material you are given by the dentist beforehand.

Depending on the type of grafting you have done, you will likely need a few days to recover. During the first night of your recovery period, have a caregiver look after your children. This can be a friend or family member. After this time, have someone help you around your home during the day for a few days. When you don’t have someone to assist you, call a local home health agency. You can hire a provider or sitter for a reasonable cost.

Clean your home before you have surgery. Ensure that all your laundry is done. Stock your refrigerator and freezer with healthful foods easy to consume. Soft foods such as yogurts and smoothies can make tasty meals. You can also puree your favourite vegetables and fruits. Do this ahead of time so they will be ready to consume for a meal. Have a place to rest. This does not have to be your bedroom. Have plenty of magazines, books, and music to entertain you. You can use a laptop computer to keep up with your daily online activities.

Getting gum grafting can save your teeth and gums from deterioration. By talking to your dentist and preparing your home, you can save your energy for recuperation. For information on dental services, please talk to an expert at Genuine Care Treatment Options Education & Experience. This practice can handle many types of dentistry for enhanced customer satisfaction.

Visit Zfdental.biz for further details

Obama’s choice for Treasury issues warning on China

Friday, January 23, 2009

Timothy F. Geithner, Barack Obama’s nominee for Secretary of the Treasury, had his confirmation hearing on Thursday in the United States Senate. If confirmed he will succeed Henry Paulson in this position, which is analogous to the finance minister in other nations.

During Geithner’s testimony in the Senate, he said that the Obama administration believes China is “manipulating” its currency. The New York Times says this suggests a confrontational stance toward China on trade issues.

“President Obama backed by the conclusions of a broad range of economists believes that China is manipulating its currency,” Geithner said in his written responses to the Senate.

In his spoken response, Geithner said he would “use aggressively all diplomatic avenues open to him to seek change in China’s currency practices.”

“The signal this sends is not good [for China-US relations]”, said Charles W. Freeman, a fellow at the Center for Strategic and International Studies and former head trade negotiator for China at the Office of the United States Trade Representative. “It opens a Pandora’s box. We need the Chinese to hold onto their Treasury and agency debt.”

China “will be more than annoyed — they don’t like being singled out, and they don’t like countries explicitly criticizing them for the way they run their economy,” said Nicholas Lardy of the Peterson Institute for International Economics.

Bloomberg L.P. said that US treasury securities dropped in value following Geithner’s statements.

“It has to be done very carefully,” said Frank Vargo, VP at the National Association of Manufacturers. “You know the world has changed a lot with the financial crisis and China has a lot in U.S. Treasuries. This needs to be done in a cooperative, not a confrontational, way.”

“But…we all know the Chinese currency is deliberately undervalued,” Vargo added.

Geithner was also questioned about taxes he failed to pay on income earned while working for the International Monetary Fund. However, this issue was largely forgiven by the senators.

Senator Orrin Hatch said he was certain Geithner was “a person of great integrity, even though he’s made these mistakes.”

Senator John Cornyn said he was “willing to give Mr. Geithner the benefit of the doubt” on his tax mistakes.

Senator Jon Kyl was not as forgiving on the tax issue. “He [Geithner] has not been as candid with me or the committee as I think he should have been,” Kyl said.

US law requires the Treasury to list countries that manipulate their currency. Former Secretary Paulson cited the 21% appreciation of the yuan since July 2005 as evidence that China was not manipulating the exchange rate, and kept China off the list.

Retrieved from “https://en.wikinews.org/w/index.php?title=Obama%27s_choice_for_Treasury_issues_warning_on_China&oldid=780175”

FEMA employees pose as fake reporters during press conference

 Correction — September 10, 2013 The headline should not contain the word fake: the employees posed as reporters; they didn’t pose as fake reporters, on the contrary they were fake reporters posing as real reporters. We aopologize for the error. 

Friday, October 26, 2007

The United States Federal Emergency Management Agency (FEMA) is under fire after the agency held a fake press conference with fake news reporters in regards to individuals affected by the California wildfires and the assistance they could receive.

The agency called a press conference on Tuesday, giving the press only 15 minutes to show up. When many did not, FEMA brought in agency officials to pose as fake reporters and ask questions. The option for reporters to call into the conference was also available, but the ones who did call in only got to listen to the press conference, and could not ask questions. No reporters were actually present during the conference, parts of which were carried live on Fox News and MSNBC.

During the briefing, FEMA employees asked Deputy Administrator Harvey Johnson a series of what The New York Times called “decidedly friendly questions” such as “What type of commodities are you pledging to California?”, “What lessons learned from Katrina have been applied?” and “Are you happy with FEMA’s response so far?”. The briefing followed the format of a press conference, with FEMA’s press secretary at one point cautioning that he would allow just “two more questions”, then calling later for a “last question”. Officials who posed as fake reporters included the deputy director of public affairs Cindy Taylor and Director of External Affairs John “Pat” Philbin.

White House officials said that they do not condone FEMA’s actions and also state that they had no idea that the conference was taking place.

“FEMA has issued an apology, saying that they had an error in judgment when they were attempting to get out a lot of information to reporters, who were asking for answers to a variety of questions in regard to the wildfires in California. It’s not something I would have condoned. And they — I’m sure — will not do it again,” said Dana Perino, the White House’s press secretary in a statement.

FEMA apologizes for the mishap and says that their intentions were only to get the information to the citizens of California.

“[The purpose was] to get information out as soon as possible, and in trying to do so we made an error in judgment. Our intent was to provide useful information and be responsive to the many questions we have received. We can and must do better,” said Harvey E. Johnson, the agency’s vice administrator. “The real story — how well the response and recovery elements are working in this disaster — should not be lost because of how we tried to meet the needs of the media in distributing facts,” a FEMA statement said.

FEMA is currently deciding whether or not any officials should face punishment for the incident. One of the officials responsible, Pat Philbin, is going on to be the new head of public relations for the Office of the Director of National Intelligence.

This is not the first time that the Bush administration has come under fire for planting reporters at press conferences. In February of 2005, White House reporter Jeff Gannon was accused of being planted to ask softball questions to President Bush. FEMA itself had earlier undergone criticism during Hurricane Katrina for using disaster workers for public relations in 2005.

Retrieved from “https://en.wikinews.org/w/index.php?title=FEMA_employees_pose_as_fake_reporters_during_press_conference&oldid=3848355”

The History Of Air Compressors

Submitted by: Clair O’Hara

The history of air compressors as a tool dates back to antiquity. Man has used air compression for thousands of years to heat his home, cook food, and move objects. The earliest type of air compressor was a bellows used to blast compressed air onto a fire. These simple air compressing units were either powered by man or animals to compress the air. These were replaced by mechanical air compressors which were used for industrial purposes. With advances in science, air compressors were reduced in size and found uses outside of factories as aids for underwater diving or to power pneumatic tools and drills.

Air compression devices have been used since 2000 BC and were made of leather. These first air compression devices were pumped open and closed manually. This model was improved upon with the addition of handles and intake valves. But, the newer version was still a hand or foot powered low pressure device used mainly to fan fires. Later, the foot powered compressors were replaced by water wheels.

[youtube]http://www.youtube.com/watch?v=l3Y7MV2jQGs[/youtube]

With science advancing, new air compressors were invented to expand the uses for air compression. In 1650, German scientist Otto von Guericke, devised a single piston and cylinder air pump. In 1797, the first motorized air compressor was designed by George Medhurst of England. By the 18th century, scientist discovered that compressed air could be used as a source of energy to power and move items. The discovery happened when water boiling in a container exploded and moved an item. After this discovery, compressed air was used for rock drilling. In the 19th century, Paris devised an air compressor grid system to power their clocks with a pulse of air every minute. Paris, also in the 19th century, experimented with the idea of air compressor systems as an alternative to electricity.

With the birth of the industrial age, air compression gained new uses in the field of manufacturing. The 20th century saw the use of piston compression air compressors in industry. In 1930, the screw compressor, first invented in 1878 Germany, offered quieter forms of air compression. By the end of the 20th century there were three main types of compressors used. The reciprocating, or, piston compressor, was used for oil refineries, gas pipelines, and refrigeration plants. They draw air in through an intake valve then out through an outlet. Its pistons are driven by a crank shaft to deliver air at high pressures. The rotary compressors, a type of gas compressor, emerged after the piston compressor. They deliver larger volumes of high pressure air which is good for industrial use. These compressors use a continuous sweeping motion to limit pulsation. And, the jet compressor uses pressurized water or gas to force air out a cylinder or diffuser.

Today, air compressors are used in all walks of life. They are found on construction sites, factories, medical offices and homes. The history of air compressors will continue to evolve as technological advances create different demands for compressed air and the quality of air compressors improve.

About the Author: Clair O’Hara is writing on behalf of Excel Compressors, specialists in

air compressors

and

the history of air compressors

.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1227800&ca=Advice

Interview with Ton Roosendaal about Elephants Dream and free content movies

Sunday, May 21, 2006

Three days after the Internet release of the free content 3D short Elephants Dream (see Wikinews coverage), we exchanged e-mails with Ton Roosendaal about the reaction to the film, open source filmmaking, and the changes to Blender that resulted from the production. Ton Roosendaal is the lead developer of the Blender 3D rendering and modelling software that was used for the movie. He is also the chairman of the Blender Foundation, a non-profit organization which was formed in support of the software and projects like Elephants Dream.

How much money did the Blender Foundation spend on producing the movie? Has the money been fully recouped by DVD orders and donations?

We still have to finish the final bookkeeping for this project. It has been executed in co-production with the Netherlands Media Art Institute, and we each had our own internal budgeting for the project. When you exclude expenses of pre-production and producer personnel, the total budget was about 120,000 €, of which we covered half. Our contribution was roughly covered half by the DVD sales, and half by European Union support (http://www.uni-verse.org consortium).

One of the most common criticisms of CGI films is focus on technology over content. For instance, Final Fantasy: The Spirits Within flopped with audiences, in spite of being an undisputed technical milestone. I’ve seen many reviews that criticized the plot of “Elephants Dream” as too bizarre or confusing. In retrospect, are you happy with the story development process?

Haha, I knew the story and plot would get a mixed acclaim. There’s a couple of reasons I’d like to mention for it.

First of all; the criticism resembles how people witness Blender itself, too. Many people expect that Free Software is an easy accessible mass audience product. We get a lot of complaints by non-artists that they can’t get into the software easily, whilst the complexity of commercial products like Maya or Houdini is perceived as a confirmation of its “quality”. Apparently an Open Movie created similar expectations with the audience.

Luckily we also got many positive reviews of the artistic result of the movie. It is quite abstract, but definitely has many layers of information, inspiring many of the viewers to see relevant real life messages hidden here.

For this project we’ve teamed up with the Netherlands Media Art Institute, internationally renowned as a resource for video art. So for Elephants Dream, we’ve had the luxury to challenge ourselves to create real independent artistic content as well. The artists had a lot of freedom from the start; they were responsible for the concept, story and creative development of the entire movie. This has resulted in a lot of quite personal choices, based on what the artists liked to do themselves. I really cherish such an approach, it has resulted in a very motivated team working crazy hours the last months to get it all realized.

But, most importantly; the main target of our project was not only to create a 3D movie short, but to experiment with ways to improve the efficiency and quality of open source development. On this aspect only, this project was just a huge success, and the main reason for our sponsors (the DVD pre-sale) to support it. I know they might have liked a cartoonish funny movie with furry animals better, but for that you get already pretty well served by the bigger 3D animation studios. 🙂

I’m the first to admit that – looking back especially – certain aspects worked out quite weakly; there’s loose ends and questionable decisions, especially in story development and continuity. That’s just the risk of doing experiments, and nothing I regret really. The five artists from our user community who were invited to make the movie were young people with no professional background in filmmaking. Their personal incentive to participate in this project was also to learn from it, and to create a good portfolio for their future career. I’ve witnessed them grow in competence in the past year enormously, something I’m incredibly proud of.

On the technical level, the only major criticism I’ve seen of “Elephants Dream” is the character animation, especially in the opening scene — many reviewers felt that the movements seemed a bit unnatural. Do you agree with these criticisms? If so, what do you think can be done to improve on that level?

Yeah, the challenge the artists set themselves – to use quite realistic personages – is also something that easily works against you. In many animation movies they introduce characters in the beginning in a way you get used to their specific characteristic movements, so you accept a certain level of non-realism easily. (Check the weird walk cycles in The Incredibles for example). Another aspect is that we’ve started work on the first scenes, and ended with the last scenes. I can clearly see the animation quality increase, and that whilst the ending scenes were done in much less time due to time constraints.

We also didn’t schedule to do 9.5 minutes of animation either…. Originally it was more like 6. But, it’s always easier to look back to define the right decisions, eh? 🙂

I’m very happy with the reviews we got so far; luckily the movie was perceived as a professional quality product, and reviewed based on comparisons with what the big studios come up with. Even when we couldn’t satisfy all these quality demands, it has luckily not been branded as a pathetic presumptuous attempt by amateurs!

Do you think there is hope for a full-length open movie project in the near future? Would the Blender Foundation be interested in such a project, or do you intend to continue focusing mainly on shorts?

I’d like to wait a little while with defining what a next project would look like. Given the constraints of “organizing projects to improve open source development”, we might have not much choice either. It would probably mean to work with a new team each time, so most likely be based on shorts only. On the other hand, there’s also clear signals that this approach works well, and creates excitement and involvement of a lot of people, also from producers and sponsors. That might enable us to set up a next project based on larger targets. For a full-length feature film however, we should involve a sufficient amount of experienced film makers as well, and/or invite the first team to participate again. That would put a lot of pressure on the required budget…. You can’t do that based on a 1000 DVD pre-sale target. Would more be like 20,000 or so…. 🙂

How did the process of making the movie feed back into the development of Blender? Are there major technical changes that were made only or primarily because of the film?

Already during the pre-production phase the artists have defined the key targets for Blender development. This then was coordinated with the online development community too. I’ve done the most crucial (re-)development mostly myself, though. Especially on the character animation tools, on the rendering pipeline and compositing tools.

It is especially the latter I’m most satisfied with. In 3D movie production the compositing stage creates a giant content bottleneck. By transparently integrating this in our render-pipeline, a very efficient workflow has been achieved. And, not to forget, Blender now also offers the first production-level open source compositor on the market!

The current summary you can find in our work-in-progress release notes.

What are the key technical features in Blender you want to add or improve for future movie projects?

Depends on what the movie is about! There’s always hundreds of features you can work on. However, we’ll have to work on that anyway, movie project or not. There’s a lot of professionals using Blender now, and they can’t wait for the Blender Foundation to do movies! Look at this studio for example:http://www.plumiferos.com/

I read that at least one proprietary software package, Reaktor, was used for the sound effects. Is this because no equivalent free software solution exists yet? Will future projects have a “free software only” policy?

We’ve limited the “Open Source tools” requirement to our own Studio Orange only. That was what we could keep in control at least, and I can tell you it was not always easy even… 🙂

For sound and music we’ve decided from the beginning to seek an external sponsor. We have chosen to work with the best quality studio and composer we could find, preferably using open source, but not as a prerequisite.

My own competence is solely within the CG [computer graphics, Ed.] side of movie making. When it comes to music editing, or video encoding and DVD authoring, I could only decide to choose to work with external parties with proven competences in that area. I have to be practical in projects like this, especially to ensure it will be realized.

Hopefully, now we’ve got so much attention world wide, we can involve more non-CG open source next time, too. I will definitely strive for the maximum here, but it will fully depend on the amount of professional support we can get.

Blender itself was originally closed source freeware, until it was “liberated” through a fundraising campaign. If you could choose one proprietary application to “set free” where such a goal could be realistically achieved, which one would it be?

Well, the “realistically achieved” demand makes it quite difficult. 🙂 Looking back at similar cases, like Mozilla and OpenOffice.org, it was always very circumstantial. It just happens sometimes, you can’t organize something like this to happen in advance. The only common denominator is “a company in troubles”… so, who’s in trouble now?

What is your personal favorite computer-animated full-length film?

Uuuh… that differs every week! Probably Ice Age (the first one). Mostly because they didn’t overdo showcasing 3D technology so much, but created truly adorable characters and great funny gags.

Retrieved from “https://en.wikinews.org/w/index.php?title=Interview_with_Ton_Roosendaal_about_Elephants_Dream_and_free_content_movies&oldid=4635190”

Wikinews interviews Steve Burke, U.S. Democratic Party presidential candidate

Sunday, December 13, 2015

This article is a featured article. It is considered one of the best works of the Wikinews community. See Wikinews:Featured articles for more information.

Macomb, New York Councilman Steve Burke took some time to speak with Wikinews about his campaign for the U.S. Democratic Party’s 2016 presidential nomination.

Burke, an insurance adjuster and farmer, was elected councilman in Brookhaven, New York in 1979. He left the town after being accused and found not guilty of bribery in the 1980s. Since 1987 he has served as Macomb councilman off-and-on and currently holds the post. From 1993 to 1996 and 1999 to 2002 he worked as chairman of the Democratic Party of St. Lawrence County, New York. Among his many political campaigns, Burke unsuccessfully sought the Democratic Party’s presidential nomination in 1992 and recently attempted to run for U.S. Congress in 2014 but too many of his ballot petition signatures were found invalid. Burke filed with the Federal Election Commission to run for president in the 2016 election on September 18, 2015 and has qualified for the first-in-the-nation New Hampshire Primary.

With Wikinews reporter William S. Saturn?, Burke discusses his political background, his 2016 presidential campaign, and his policy proposals.

Retrieved from “https://en.wikinews.org/w/index.php?title=Wikinews_interviews_Steve_Burke,_U.S._Democratic_Party_presidential_candidate&oldid=4567472”

Arkansas becomes first US state to criminalise treatment for transgender minority

Friday, April 9, 2021

On Tuesday, lawmakers in the Republican-governed US state of Arkansas became the first in the country to ban specific treatment types to transgender youth under the age of eighteen, irrespective of parental consent. It is to become law at the earliest by the 91st day after the legislative session’s recess, or July 30.

While vetoed by the state’s governor Asa Hutchinson on Monday, House Bill 1570, or the Save Adolescents From Experimentation Act was overturned 25–8 in the state Senate and 72–25 in the House of Representatives, prohibiting any healthcare professional from providing puberty blockers, cross-sex hormone therapy or gender-affirming surgery to anyone under the age of eighteen, as well as referring them to other providers.

Representative for Arkansas’ District 87 Robin Lundsturm said “[t]hey need to get to be 18 before they make those decisions”.

This ban also applies to those minors who are already receiving such treatments. The punishment will be a loss of medical licence.

While praised by conservative organisations such as The Family Council, Governor Hutchinson called the bill “a product of the cultural war in America”. In a statement Governor Hutchinson said, “I do hope my veto will cause my Republican colleagues across the country to resist the temptation to put the state in the middle of every decision made by parents and health care professionals”.

The American Academy of Pediatrics, representing 67 thousand paediatricians nationwide accused the bill of depriving young people of the medical care they need. Medical director at the University of California San Francisco Madeline Deutsch said of transitioning treatment “[t]here’s a general consensus among professionals in this field” that “[t]here’s tons of solid science supporting this approach”, and division head of adolescent and young adult medicine at a children’s hospital in Chicago Dr Robert Garofalo called it as “perpetuat[ing] the very things we know are harmful to trans youth”.

Executive director of the Arkansas American Civil Liberties Union (ACLU) Holly Dickson condemned the act’s proponents as “[disregarding] widespread, overwhelming, and bipartisan opposition to this bill and [continuing] their discriminatory crusade against trans youth […] to block trans youth from the care they need simply because of who they are is not only wrong, it’s also illegal, and we will be filing a lawsuit to challenge this law in court”. The institution is preparing for litigation; according to deputy director for transgender justice with the ACLU’s LGBTQ & HIV project Chase Strangio, “[w]e will always have your back and will be relentless in our defense of your rights.”

The bill’s passage comes after similar anti-transgender legislation in Arkansas and other states, including legislation signed by Hutchinson March 25 banning transgender girls and women from competing with their gender identity in sports, described by Dickson according to the AP as “discriminatory and shameful”.

After the lawmakers enacted this ban, pro-LGBTQ rights group the Human Rights Campaign said over 100 bills targeting transgender people have been filed, with bills of similar nature proposed in 20 states or more.

Retrieved from “https://en.wikinews.org/w/index.php?title=Arkansas_becomes_first_US_state_to_criminalise_treatment_for_transgender_minority&oldid=4617202”

Why Is Monthly Accounting Reconciliation Beneficial For Your Business?}

Submitted by: Cristina Sheltonz

Accounting reconciliation is essential for every business as it helps you identify and fix any unusual transactions that might be caused by any accounting errors or fraudulent charges. It is a practice to compare monthly transactions of your company’s financial accounts with monthly statements of the bank accounts or credit cards. Simply put, Singapore monthly accounting reconciliation is crucial to keep one’s business on right track. Let us dive a little deeper into it by understanding the term Bank Reconciliation.

What is Bank Reconciliation?

Bank reconciliation is a process that compares the balance stated in the bank statement with the balance of the company’s accounting records. Cash is the lifeblood of an entity, and thus, one must manage the cash flow robustly. Bank reconciliation process provides a strong control mechanism that helps to bolster the resources by unveiling the misdeeds like unauthorized bank withdrawals, theft, and any illicit activities.

Why is Monthly Accounting Reconciliation Beneficial?

[youtube]http://www.youtube.com/watch?v=3Z8mHBSc8lQ[/youtube]

Since reconciliation ensures the accuracy of data, the financial account of every business needs to be reconciled when an accounting period is being closed. Ideally, the businesses choose to reconcile their accounts on a monthly, quarterly and annual basis. However, monthly accounting has been proven to be more beneficial for businesses. The best way to reconcile the accounts on a monthly basis is to get the assistance of an expert from the professional accounting services Singapore.

While an annual accounting method fails to identify the current errors and provide support in real time, monthly accounting reconciliation can figure out on-going errors and fix them at the earliest. Let us leaf through the benefits you get when adopting monthly accounting reconciliation for your company’s account.

3 Advantages of Using Monthly Accounting Reconciliation for Your Business

1. Detect Errors and Prevent Mistakes:

The best way to keep tabs on financial account of your business is to reconcile it on a monthly basis. It helps to figure out the errors, which can occur on either side i.e. bank account or financial account of the company. The monthly accounting reconciliation helps to eliminate the errors and prevent them from occurring again in the future.

2. Prevent Theft and Fraudulence:

If you do not keep track of your account record closely, the fraudulent activities (if taken place) may go unnoticed especially when your account balance is high. However, reconciliation of accounts helps you identify the illicit use of your money very quickly. It enables you to notice the fraudulent charges almost in real time and fix it immediately. Spotting illegal activities early on saves you from future hardships.

3. Bank Fee and Interest Tracking Made Easy:

Each month, the bank adds fee or interest to your account based on their policies and the use of your account. The statement shows all the changes made through the addition of bank fees and interest to your account. If you reconcile your account on a monthly basis, you are more likely to notice and track the new fees and interest. It helps you add or subtract the amounts accordingly in your general ledger. Keeping track of balance on the both accounts accurately becomes easy and hassle free through monthly accounting reconciliation.

In a nutshell, monthly accounting reconciliation enables you to keep your both accounts (bank account and company’s financial account) in good standing. When you are well aware of the status of your company’s account balance, you can better manage your spending and thus, avoid overdrawing the account. It eventually helps you to keep a good credit score in future.

About the Author: SBS Consulting is one of the most trusted accounting firms in Singapore that offers a set of comprehensive accounting services to their clients. The firm is best known for its high-quality accounting services including XBRL filing, Director’s Report, GST, Bookkeeping, and Payroll. Visit:

sbsgroup.com.sg/singapore-accounting-services/

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1958062&ca=Business}

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