Build trust with precise Financial Statements prepared by a Chartered Professional Accountant. Accurate Financial Statement Preparation is crucial for effective decision-making.
Financial Statements represent a company’s performance over a specific period. Relevant and reliable financial statements, essential for users’ decision-making processes, are a core aspect of our Financial Reporting Services
We assist clients in preparing yearly, quarterly, and monthly financial statements, which will allow them to distribute these among key users for assessing business performance. Such as:
Financial statements prepared based on management provided figures, organized for presentation, but it provides no assurance regarding the data's accuracy. The level of assurance is minimal, and no verification of the financial information is performed by a CPA.
In a Review Engagement, CPAs perform limited testing, inquiry, and analytical procedures to provide moderate assurance that financial statements have no significant misstatements. The process is less extensive than an audit but offers more assurance than a compilation.
In an Audit Engagement, CPAs conduct thorough testing and examination to provide a high level of assurance that financial statements are accurate and compliant with accounting standards and regulations. This involves extensive testing, verification, and in-depth analysis.
Yes, corporations need to file corporation income tax returns. The corporate income tax (T2) return requires inclusion of financial statements that need to be presented in CRA’s prescribed format. In addition, third parties such as lenders or investors can also request financial statements from the corporation.
Financial statements are reports that provide a snapshot of a corporation’s financial performance and position. They are important because they help stakeholders, including investors, creditors, and management, assess the financial health and performance of the company.
Financial statements should be prepared annually, at a minimum. However, corporations may also prepare monthly/quarterly financial statements, depending on the needs of management or lenders/investors.
Users of the financial statements can require the financial statements to be prepared in accordance with Accounting Standards for Private Enterprises (ASPE) or International Financial Reporting Standards (IFRS). Please ensure to communicate with the users (management, lenders, investors) on what accounting standards they require you to follow.
Publicly traded companies generally must prepare their financial statements in accordance with International Financial Reporting Standards (IFRS). This reporting obligation is not applicable to non-public businesses. However, small businesses should communicate with the users of their financial statements for accounting standards required to be followed.
$750 / per month
$1,750 / per month
$3,000 / per month
