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Financial Statements

As a leading Accounting Services in Toronto, we create financial statements for companies based on the need of filling tax returns or providing information to creditors, and we do this by committing time, energy and professional expertise to help our clients. Professionally created financial statement is advantageous by making material a lot easier for all users of the financial statements in understanding exactly, the numbers of the company. Most sets of business financial statement are created for a set of readers these include: managers, owners and banks or other creditors.

Business Financial Statements, income statement and balance sheet are required by law for most corporations, based on the need of the jurisdiction in which your business incorporated. Financial statements play an integral part in computing a corporation’s income tax, corporate minimum tax, capital tax, premium tax and special additional tax liabilities. Financial Statements are also utilized to determine if your organization are eligible for an exemption from capital tax.

Our reporting and accounting practices of business financial statement services include:
  • Preparing business financial statements
  • Financial Audits Toronto, Financial statement reviews and other financial accounting services
  • Due Diligence reporting
  • Control and assurance reviews
  • Mergers and acquisitions
  • Sales tax/HST/GST
  • Financial Forecasts
  • Special Reports

Business Financial Reports include the following level of reporting

Audit Engagement Report: This provides the highest level of assurance on business financial reports of the company which is being reviewed. It is a review and objective examination of business financial reports. Audits are created from reviewing internal controls, testing selected transactions and communicating with third parties.

Review Engagement Report: provides moderate level of assurance on business financial statements. Our accountants gain enough knowledge of the transactions taking place in the organization and do testing on various procedures and form a opinion of communication whether the information being assured is fairly presented.

Notice to Readers: As Chartered Accountants we review the goals and practices of the organization and compile business financial statements for clients and express no opinion or assurance on the statements.