Your business or corporation relies upon accuracy in accounting and properly prepared financial statements. Each business is unique and may have variations in the types of reporting which is required. There are a few different types of financial reports which are useful in assessing different aspects of the financial status of your business. Using a professional financial statement preparation service in Nanaimo makes the ideal solution for a variety of reasons.
Audited Financial Statements
This type of assessment and report is useful in providing a third party opinion of the reliability of your financial statements to executives or others who may not be directly involved in the day to day operations of the business. Audited statements are provided by professional accountants for financial statement preparation service in Nanaimo who check the reliability of the financial reporting of the corporation’s internal controls from an unbiased perspective.
Review Engagement Financial Statements
This type of financial statement preparation is used to determine whether or not a company is following the most commonly accepted accounting principles and rules. This type of financial statement is most often required when there is a third party, such as a lender or shareholder, who requests this type of assurance from an impartial party.
Notice to Reader Financial Statements
This type of financial statement preparation is performed under circumstances where the owners of the company actively participate in the daily transactions of the business. This type of statement is useful in aiding in the internal management of the company and is an economical alternative for assessing the financial positioning and operation of the business.
Smaller businesses in Nanaimo have unique financial statement preparation needs. Income statements for Canada Revenue Agency are most widely used by small business owners with unincorporated companies. This type of statement is generated and attached to a personal tax return for entrepreneurs.
Financial statement preparation is a task which requires professional knowledge and precise attention to details. J.A. Smith & Associates Inc. is a leader in financial statement preparation in Nanaimo. They are available to service larger corporations as well as entrepreneurs with smaller or home based businesses. They have been serving businesses in the Nanaimo area for many years and provide top quality consultation and services. For more information about the services which they provide and how they their financial statement preparations can benefit you, don’t hesitate to contact them for all of your unique financial needs.
