Accounting

Accounting Services

Accounting and financial systems are the core for any individual and small business decisions. By hiring the expertise of a Chartered Professional Accountant (CPA) firm, you are investing in peace of mind.

A CPA can help you;

  • Analyze overall year-end financial information
  • List adjustments and corrections that need to be done
  • Suggest how to reduce taxes
  • Find where tax deductions can be taken
  • Look for expenses that are not being claimed
  • Find inconsistencies from year to year
  • Avoid Canada Revenue Agency (CRA) red flags
  • Build a financial model that fits with your goals
  • As an advocate to help resolve issues with CRA
  • By reviewing or setting up your bookkeeping to make sure it is being recorded properly for tax compliance purposes

Our Accounting Services include:

Assurance

We offer Notice To Reader and Review Engagements for Small Business, Real Estate Trusts, Lawyers Trusts, Collection Agencies Trust, and not for profit organizations.

Notice to Reader (NTR)

We compile the data received from the client or the client’s bookkeeper to assemble into financial statements for corporate tax returns. The engagement scope for NTR only determines that the information is not materially misstated. Our financial statements report includes;

  • The business balance sheet and income statement
  • A caution to the readers of the statements that they may not be applicable for their use
  • When necessary, notes are accompanied with the financial statements
  • Corporate T2
  • Draft resolutions, if required

Review Engagement

The purpose of a Review Engagement is to provide to the reader a limited assurance that the small business financial statements do follow ASPE (Accounting Standards for Private Enterprises). The procedures carried out are examination, comparison and discussion. Although there may be small errors, the results found ensure they do not affect the overall position of the financial statements.

Three reasons a review engagement is most often requested

  1. Requested by a Lender
  2. Multiple owners have shares in the corporation and each is requesting assurance the financial statements have been objectively reviewed and assessed
  3. Not For Profit organization
Contact us today to find out how hiring the expertise of a Chartered Professional Accountant (CPA) firm is an investment in peace of mind.

ACCOUNTING, TAX & FINANCIAL ADVISORY SERVICES

At Banka and Company, CPA we help clients Plan, Manage, and Succeed