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ACCOUNTING SUPPORT FOR BUSINESSES, NON-PROFIT ORGANIZATIONS, TRUSTS, AND ESTATES

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All businesses need effective and efficient accounting functions to provide stakeholders access to timely and useful financial information. Whether these functions are needed for statutory compliance purposes, bank reporting, harmonized sales tax record keeping and submission, income tax preparation, or internal performance evaluation, appropriate accounting reporting systems are key.

One of the most crucial tasks of running a small business is maintaining your accounting records. Accurate and timely accounting helps you keep track of your income and expenses and provides a clear picture of your financial standing. At Alt Caret, we offer complete business accounting services for small businesses and enterprises to ensure informed financial and investment decision-making. Our team of dedicated accounting professionals will organize and meet your accounting and compliance needs so that you can leverage every growth opportunity and scale up your business operation.

Our accountants, have experience catering to the needs of a wide range of industries and have strong business acumen to understand your business needs and provide you with effective and efficient accounting solutions. We offer Accounting Services for Small Businesses in various packages based on size and number of transactions and are dedicated to assisting you in managing your financial records and ensuring compliance with accounting regulations.

Our Small Business Accounting Services Include:

  • Bookkeeping
  • Accounts Receivable
  • Accounts Payable
  • Bank Reconciliation
  • Credit Card Reconciliation
  • Sales Tax Returns
  • Basic Payroll Processing
  • Financial Statements
  • Adjusting and Closing Entries
  • Business Tax Return
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Our Comprehensive Accounting Services

Keep all the money that is yours.

These key services may be just what you need from a professional accountant.

1. Canadian Generally Accepted Accounting Principles (GAAP):
Canadian GAAP consists of the accounting principles, standards, and procedures used to prepare financial statements for Canadian businesses. These principles are established by the Accounting Standards Board (AcSB) and are based on international standards while considering the unique needs of Canadian entities.
2. International Financial Reporting Standards (IFRS):
IFRS is widely adopted in Canada for financial reporting by publicly accountable enterprises and is set by the International Accounting Standards Board (IASB). The Accounting Standards for Private Enterprises (ASPE) is a set of accounting principles based on IFRS but simplified for private companies not required to use full IFRS.
3. Quality Assurance Standards (QAS):
The Chartered Professional Accountants of Canada (CPA Canada) has established Quality Assurance Standards to ensure the quality of accounting and assurance services provided by CPAs. These standards require firms to establish quality control policies and procedures to maintain compliance with professional standards and regulations.
4. Independence and Objectivity
CPAs in Canada are required to adhere to strict independence and objectivity standards to maintain integrity and impartiality in their work. Independence requirements are set by professional bodies such as CPA Canada and regulatory bodies like the Canadian Public Accountability Board (CPAB).
5. Continuing Professional Development (CPD)
CPAs are required to engage in ongoing professional development to maintain and enhance their knowledge, skills, and competencies. CPA Canada sets CPD requirements for members, including minimum hours of professional development activities annually.
6. Ethical Codes of Conduct
CPAs are bound by ethical codes of conduct established by professional accounting bodies, such as CPA Canada and provincial regulatory bodies. These codes outline ethical principles and professional responsibilities that CPAs must uphold, including integrity, objectivity, confidentiality, and professional competence.
7. Regulatory Compliance
Accounting services in Canada must comply with regulatory requirements set by government agencies, such as the Canada Revenue Agency (CRA) and provincial regulatory bodies. Regulatory compliance ensures that financial statements and tax returns meet statutory requirements and are filed accurately and on time.
8. Client Confidentiality
CPAs are required to maintain strict confidentiality regarding client information and sensitive financial data. Client confidentiality is essential to protect the privacy and interests of clients and to maintain trust and confidence in the accounting profession.

Quality Standards

In Canada, accounting services are guided by a combination of international standards and regulatory requirements.

SUMMARY

By utilizing our Business Accounting Services, you can benefit from the expertise of our Professional Accountants. They possess the knowledge and skills necessary to deliver accurate and reliable accounting services, tailored to meet the specific needs of your business. With their assistance, you can effectively manage your financial records, enhance decision-making, and achieve your business goals.

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