Accurate financial statements are essential for making informed business decisions, securing financing, and ensuring compliance with Canada Revenue Agency (CRA) regulations. Whether you’re a small business, corporation, or self-employed professional, maintaining precise financial records is crucial for managing your company’s performance and meeting tax obligations.
At Lepore & Company, we provide professional financial statement preparation services tailored to your business needs. With over 30 years of experience, our team ensures that your financial reports are accurate, compliant, and strategically structured to support your business growth.
What Are Financial Statements?
Financial statements provide a comprehensive snapshot of your business’s financial health, helping stakeholders, investors, and lenders assess profitability and stability. We prepare clear and detailed financial statements that comply with Canadian Accounting Standards and CRA requirements.
Our financial statements services include:
- Balance Sheets – Summarizing assets, liabilities, and equity.
- Income Statements (Profit & Loss Statements) – Reporting revenues, expenses, and net profit/loss.
- Cash Flow Statements – Tracking the movement of cash in and out of the business.
- Statement of Retained Earnings – Showing changes in a company’s retained profits over time.
These reports are essential for:
- Tax filing and CRA compliance.
- Business decision-making and financial planning.
- Securing loans, funding, or investments.
- Identifying areas for cost reduction and revenue growth.
Our Financial Statement Preparation Services
1. Preparation of Annual & Interim Financial Statements
Our team ensures that your financial statements are accurate, timely, and fully compliant with accounting standards. Whether you need annual reports for tax filing or quarterly statements for business analysis, we provide:
- Year-end financial statement preparation for corporate tax filing.
- Interim reports (monthly, quarterly) for management review and decision-making.
- Customized financial reports tailored to industry-specific requirements.
With our expertise, you receive detailed insights into your financial performance, helping you make informed business decisions.
2. GAAP & ASPE-Compliant Financial Reporting
Our financial statements are prepared in accordance with:
- Generally Accepted Accounting Principles (GAAP) for financial accuracy.
- Accounting Standards for Private Enterprises (ASPE) for Canadian businesses.
- CRA guidelines to ensure compliance for tax filing and audits.
This ensures that your financial reports are transparent, legally compliant, and easy to interpret for stakeholders.
3. Financial Analysis & Performance Review
Numbers tell a story, and we help you understand what your financial statements mean for your business. Our experts provide:
- Ratio analysis to measure profitability, liquidity, and efficiency.
- Trend analysis to identify growth patterns and areas needing improvement.
- Expense tracking to optimize cash flow and minimize unnecessary spending.
By analyzing your financials, we help you make data-driven decisions that drive profitability and business growth.
4. Adjusting Entries & Finalization
To ensure accuracy, we perform adjusting journal entries before finalizing financial statements. This includes:
- Reconciling accounts to correct discrepancies.
- Accruing revenues and expenses for proper period reporting.
- Depreciation adjustments for accurate asset valuation.
We ensure that your books reflect the true financial position of your business, reducing the risk of tax errors or CRA audits.
5. Financial Statements for Loan Applications & Investors
If you’re applying for business loans or seeking investors, banks and financial institutions require accurate financial statements to assess your creditworthiness. We prepare:
- Bank-ready financial reports for loan approvals.
- Investment reports to attract potential investors.
- Supporting documents for grant or funding applications.
With professionally prepared statements, you can confidently present your financial health to lenders and stakeholders.
Why Choose Lepore & Company for Financial Statement Preparation?
- Over 30 Years of Expertise – Trusted accountants with deep industry knowledge.
- Personalized Service – Tailored financial solutions to fit your business needs.
- Accurate & Compliant Financial Reporting – Ensuring compliance with CRA and accounting standards.
- Strategic Financial Analysis & Insights – Helping you make data-driven decisions for business growth.
- Timely Delivery – Meeting your deadlines for tax filing and business reporting.
Get Started with Professional Financial Statement Preparation
Ready to ensure the accuracy and compliance of your financial statements? Contact Lepore & Company today to schedule a consultation. Let us help you gain a clear, strategic view of your financial health.