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)