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Financial Statements
We can assist you in the preparation of your financial statements in accordance with applicable professional standards. The financial statements produced can be a useful tool for management for making financial decisions. We can prepare three different types of financial reports depending on your needs. See the discussions on audits, reviews and compilations below.
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Reviews
A review engagement financial statement is prepared using certain analytical procedures and discussion with management. While we report as to the accuracy of the information contained in the review financial statements, limited assurance is provided.
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Cash Flow & Budgeting Analysis
Unfortunately, a business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company’s financial condition, estimate financing requirements, and track cash-flow sources and uses.
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Audit Services
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. Audits differ from reviews and compilations, as they are an intensive examination of your company’s systems and records, providing the highest level of assurance.
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Compilations
Compilations differ from reviews and audits as they are based upon client information provided and used primarily for internal use only as no assurance is expressed.
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Financial Forecasts & Projections
Forecasting is necessary when trying to effectively manage and lead a business toward profitability. From simple projections to complex financial modelling, our experienced staff can assist you in achieving your company’s financial goals.
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Payroll Services
As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.
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Tax Services
Tax services offered include, but are not limited to:
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Tax planning for individuals, corporations and estates
Return preparation for:
Individuals
Corporations
Estates and trusts
Not-for-profit organizations
Tax effects of buying/selling a business
Tax effective retirement and estate planning
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Federal and Provincial Sales Tax
Many of our clients are responsible for collecting and submitting sales taxes in many different jurisdictions. We can assist your company in the compilation of information and preparation of sales tax returns.
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U.S. & International Taxation
U.S. & international taxation services offered include, but are not limited to:
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Federal and State return preparation for
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Non-resident individuals holding rental property or having employment income in the United States
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Corporations having no permanent establishment or that are not domiciled in the United States
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Retirement Planning
Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.
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Purchase & Sale of a Business
Preparation and planning are key to the successful purchase or sale of a business. Our team can assist you with all aspects of your transaction, including valuation, cash flow analysis, tax minimization and transition planning.
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Business Valuations
Preparation and planning are key to the successful purchase or sale of a business. Our team can assist you with all aspects of your transaction, including valuation, cash flow analysis, tax minimization and transition planning.
Valuation services offered include, but are not limited to:
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Business Valuation:
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Income tax and estate planning
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Shareholder disputes
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Share reorganizations
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Goodwill impairment testing
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Mergers, acquisitions and dispositions
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Litigation Support:
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Business valuations
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Insurance claims
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Income for support calculations
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Expert testimony
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Personal injury
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Quantifying of economic damages
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Farm Programs
From AgriStability and AgriInvest to the many other subsidy programs available to the farm community, our knowledgeable staff remain current on all the farm programs available.
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Estate Planning
Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.
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Accounting Software Setup & Implementation
With the number of computerized accounting software packages available for small businesses and individuals growing every day, selecting one that is right for you has become increasingly difficult. Our experienced staff can help you choose and implement the system that best fits your needs.
Quicken
Sage 50 (Simply Accounting)
AgExpert Analyst
Microsoft Excel
Sage Business Vision
QuickBooks & QuickBooks Online (QBO)