Accounting Services

Audit Services

Testing your records and procedures so we can express an opinion on the fair presentation of your financial statements.

Incorporating technology that allows us to assist you in preparing integrated financial statements and schedules in a timely manner.

Analyzing current financial information and comparing it with prior periods to measure progress. This information can also be used to benchmark with similar companies and gauge your competitive position. Comprehensive management reports include insights and suggestions uncovered during the engagement.

Review Services

If full auditing services are not required, we can provide review services on historical financial statements. A review consists of discussions with your management team and analytical procedures applied to your financial statements. The resulting report indicates limited assurance as to the appropriateness of the financial statements.

Compilation

Compilation services are offered to assist your accounting department in the preparation of your financial statements in accordance with professional standards. No opinion is expressed about the underlying information in the statements.

Tax Services

Income tax services are provided to our clients on both a personal and corporate level.  We have used the e-file system to file tax returns since 1992, the year the service first became available.  We have also successfully represented clients for income tax appeals when there is a dispute with Canada Revenue Agency on the taxes owing as a result of an audit by CRA. 

Cash Flow Projections / Financial Forecasting

We can assist you in preparing a financial forecast, to help you determine if a particular investment is sustainable, and can provide a reasonable rate of return based on the investment you are required to make.  We have found this particularly useful when someone is faced with the decision about whether or not they should buy an existing business or start up a new business.

Estate Planning

We can assist you in estate planning, and consider the consequences of maintaining an estate as a taxpayer versus collapsing the estate and transferring the assets to the beneficiaries.

Succession Planning

We have assisted many clients in the transfer of business entities from one generation to the next.  There is not a single plan that meets everyone’s needs, but everyone needs a plan.  We enjoy assisting you in coming up with ways to make that happen.  Statistically in Canada, because of poor planning most business ventures do not make it into the second generation.  We have many clients that we have successfully planned and carried out transitions from the first to the second generation, and planned and completed the transfer from the second generation to the third.

Corporate Reorganizations

One of the services that we provide is corporate rollovers.  Rollovers are in general, a transfer of business assets either from an individual to a corporation or from one corporation to another corporation.  We have been performing this type of restructuring for over 20 years.  (Since we became a CGA Firm)  This is especially beneficial when your unincorporated business becomes profitable to the point where it is better to have your income taxed at the rate available to Canadian Controlled Private Corporations (15.5% on the first $ 500,000.00) rather than pay taxes based on personal rates.  This also allows you to have favorable liability exposure in some business circumstances. 

Bookkeeping Services

We also provide bookkeeping and payroll services.

Contact Bott & Company today for all your accounting service needs.