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:

Compliance/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 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
  • Draft resolutions, if required
  • When necessary, notes are accompanied with the financial statements
  • Corporate T2

Assurance/Review Engagement

The purpose of a Review Engagement is to provide the reader a limited assurance that the small business financial statements do follow ASPE (Accounting Standards for Private Enterprises) or ASNPO (Accounting Standards for Not for Profit). 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