Financial Statement Preparation for Toronto Businesses
Whether you need financial statements for your bank, a potential investor, a lease application, or simply to understand how your business is performing, ICPA Accounting Inc prepares them with professional accuracy.
Types of Financial Statements We Prepare
- Notice to Reader (Compilation): The most common level of engagement for small businesses — ideal for most small business needs.
- Balance Sheet: A snapshot of your assets, liabilities, and equity at a specific date.
- Income Statement (P&L): Shows your revenue, expenses, and net income over a period.
- Cash Flow Statement: Tracks how cash moves through your business.
Why You Need Proper Financial Statements
- Required by banks and lenders for business loans and lines of credit
- Required for mortgage applications when you're self-employed
- Needed for potential investors or business partners
- Required for your T2 corporate tax return
- Essential for franchise applications and commercial leases
Prepared by a CPA — Not a Bookkeeper
Financial statements prepared by a Chartered Professional Accountant carry significantly more weight with banks and lenders. Our lead CPA, personally prepares and signs off on all financial statements.