GRK Library


Financial Statements

Probably the most common service performed by accountants includes the preparation of formal financial statements. A set of financial statements would typically include a balance sheet, income statement, statement of cash flows and the accompanying notes. In many cases, small to medium size enterprises (SME's) are required to submit a full set of formal financial statements to their lenders. Other potential users of the financial statements may include the owners, government, and prospective purchasers.

Depending on your needs, GRK will prepare the appropriate report for the level of assurance required to comply with any financing arrangements, tax and legal requirements that you may have. There are three types of financial statement report available which include the audit, review and notice to reader (NTR). An audit provides the greatest level of assurance, while the NTR is on the opposite side of the spectrum and provides the lowest level of assurance.

After completion of the financial statement the appropriate tax returns (personal, corporate or trust), may be prepared on your behalf to meet the various government filing regulations.

That's not all! GRK will also gladly assist or prepare your financial journals to keep them up-to-date and accurate. We can also provide assistance on a wide spectrum of government reporting requirements including, (but not inclusive to), HST, WSIB, EHT, Agri–stability, and all payroll forms including your monthly remittance and yearly T4's and T4 summaries.

Finally, if the government has any questions regarding any of the above services, you can tell them to give us a call and we'll talk to them on your behalf.