May

30

Checklist: Notice To Reader

May 30, 2007 | Information Checklist | Leave a Comment

Summary Of Service

I will prepare unaudited annual financial statements, usually in either a bound or unbound format. The financial statements may be either computerized statements, or formal ‘typed’-looking statements. There may or may not any Notes to The Financial Statements. A NOTICE TO READER is a ‘Compilation Engagement’. I generally receive information supplied by the client and arrange it to form a financial statement. My concern is that the information is arithmetically correct, not false or misleading. The Notice to Reader includes a comment that “I have not audited, reviewed or otherwise attempted to verify the accuracy or completeness of such information. Readers are cautioned that these statements may not be appropriate for their purposes.” Engagements will include tax planning, correspondence (if necessary) with Canada Revenue Agency, and filing a Corporation T2 Income Tax Return. Read more

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May

30

Checklist: Review Engagement

May 30, 2007 | Information Checklist | Leave a Comment

Summary Of Service

I will prepare unaudited annual financial statements, usually in either a bound or unbound format. The financial statements will be formal ‘typed’-looking statements, and contain Notes to the Financial Statements. A REVIEW ENGAGEMENT is a higher level of professional involvement, and there will be significantly more information that will be required, as well as unique informational requirements for your particular business. In a Review Engagement, the objective is to review the financial statements to determine whether they are plausible in the circumstances. Generally, review procedures consist of enquiries of, and discussions with, company personnel and consideration of ratios, trends, etc. to assess the overall plausibility of the financial statements. Engagements will include tax planning, correspondence (if necessary) with Canada Revenue Agency, and filing a Corporation T2 Income Tax Return. Read more

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May

30

Checklist: Audit

May 30, 2007 | Information Checklist | Leave a Comment

Summary Of Service

An audit engagement is the highest level of professional involvement, including the application of generally accepted auditing standards in support of each significant financial statement item. Audits are required only in very specific circumstances which usually do not apply to private corporations. An Audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An Audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluate the overall financial statement presentation.

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May

30

Checklist: Monthly Accounting

May 30, 2007 | Information Checklist | Leave a Comment

Summary Of Service

I will prepare (without audit) monthly or quarterly computerized financial statements from information provided by you. I will enter from either posting sheets or excel recaps that you provide to us via fax or email. I can enter your income and expense transactions from source documents such as your cheque stubs, deposit books, etc. If you provide recaps or lists, they will be incorporated into the financial statements (inventory, payables, receivables, etc). There may be minor bookkeeping adjustments needed during preparation. I can assist in developing suitable posting sheet or recaps to minimize our time spent, including coding instructions. Read more

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May

30

Checklist: Personal Income Tax Returns

May 30, 2007 | Information Checklist | Leave a Comment

Summary Of Service

I will prepare (without audit) your annual T1 Income Tax Return from information provided by you. You will receive a summary and “Client Copy” of your final tax return filed.

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May

30

Information Checklist - The Basics

May 30, 2007 | Information Checklist | Leave a Comment

For new clients, I request the following for my files:

All Clients

* Current Contact Mailing Address
* Current Phone and Fax numbers (home, work, cell)
* Current Email address
* PIPEDA Letter
* Engagement Letter

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