Financial statements should be understandable, relevant, reliable and comparable.

Financial Statements

For a business enterprise, all the relevant financial information, presented in a structured manner and in a form easy to understand, are called the financial statements.

They are often required for the following situations

  • 01. File corporation tax
  • 02. Make important business decisions by owners and managers
  • 03. Request a business loan through banks and other lending companies
  • 04. Apply for credit through vendors
  • 05. Attract investors and potential buyers
  • 06. CRA auditing

Triple J Canada Consultants can help to prepare all four basic financial statements:

  • 01. Balance Sheet (Statement of Financial Position)
  • 02. Profit and Loss statement (Statement of Comprehensive Income)
  • 03. Statement of Changes in Equity
  • 04. Statement of cash flows (not required for corporation tax filing, extra charge apply for this)