Accounting & Reporting

The accounting function is vital to any organization; it helps in compliance with the statutory requirements and enables businesses to grow by providing timely information for decision-making.

In this area, we help our clients with the following:

  • Accounting as per applicable standards, be it ASPE (Accounting Standards for Private Enterprises), ASNPO (Accounting Standards for Non-Profit Organizations) or IFRS (International Financial Reporting Standards).
  • Implementation and Translation of ASPE, ASNPO, IFRS and GAAP.
  • Prepare the financial statements and liaise with the auditors.
  • Prepare information for tax filing and liaise with tax experts.
  • Performing the closing cycle / closing the books and overseeing the accounting function for the SME/Large enterprises.

In addition to complete solutions, we offer the following services separately or in combination, depending on the requirements.

Bookkeeping

Bookkeeping aims to record business transactions based on the applicable reporting framework and statutory guidelines and perform the year-end closing cycle.

We assist our clients in making accounting policy choices, setting up processes, and developing and installing accounting systems to produce meaningful results for reporting and timely decision-making.

Businesses subscribe to this periodic service to facilitate tax filing requirements or meet reporting or management needs.

Payroll Processing

Payroll processing requires the precise calculation of earnings and other elements for the employees’ and employers’ contributions and deductions in accordance with provincial and federal laws.

We offer non-automated/custom payroll processing using certified software for greater flexibility.

Compilation

Formerly known as Notice to Reader (NTR), we can assist you in compiling a full set of financial statements and issue compilation reports based on Canadian Standards on Relates Services CSRS 4200, as requested by the client’s management or any other party.

ASPE / ASNPO/ IFRS / GAAP

ASPE—Accounting Standards for Private Enterprises and IFRS—International Financial Reporting Standards are widely used accounting and reporting standards in Canada.

We assist in adopting these standards for the first time and transitioning and converting from one to another.

See other sections.

Accounting Oversight

We provide expertise to supervise the client’s accountants or oversee the complete accounting function, aiming to train in-house accountants, improve bookkeeping, perform or review the closing procedures, ensure book accuracy, reduce the closing lead time and implement controls.

Check CFO Service for greater scope.

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