CPA Compilation Report in Scarborough

We close the prior year, roll forward opening balances and produce a trial balance that ties out before a single statement is drawn.

• Close prior year and roll forward opening balances so the trial balance agrees to last year's compiled financial statements.
• Clear suspense, undeposited-funds and unreconciled accounts in your QBO or Xero data so no placeholder balance flows into the statements.
• Verify bank, loan and credit card balances on the trial balance agree to year-end statements.
• Confirm the trial balance is in balance and retained earnings tie to prior year plus current net income before adjusting entries.
• Deliver the cleaned trial balance as the foundation for an accurate compilation.

Under CSRS 4200, we prepare statements that meet the current standard with the required basis-of-accounting disclosure.

• Prepare the compilation under CSRS 4200, which replaced the old Section 9200 NTR and requires the basis of accounting disclosed in a note.
• State the chosen basis of accounting (cash or accrual) directly in the statements, the disclosure CSRS 4200 makes mandatory.
• Attach the compilation engagement report identifying management's responsibility and confirming no assurance is expressed.
• Confirm with the lender or known third-party user before issuing, since CSRS 4200 requires the statements to suit the intended user.
• Issue a professional, CPA-signed Notice to Reader at an AFFORDABLE flat fee.

The entries between your raw books and the final statements are where accuracy is made.

• Post depreciation at year-end to align book amortization with CCA pools on the T2 Schedule 8.
• Record accrued liabilities, prepaid expenses and unearned revenue so income and expense fall in the correct period.
• Book the corporate income tax provision so the income statement reflects after-tax results.
• Reconcile and adjust the shareholder loan account to its true year-end balance.
• Document each adjusting entry so the path from trial balance to statement is fully traceable.

The working-paper file is what stands behind the numbers. Structured, defensible, upgradeable.

• Build a lead-schedule working-paper file supporting every material balance on the compiled statements.
• Include account reconciliations, CCA continuity schedule and tax provision calculation.
• Structure the file so a future CSRS 4400 review engagement or assurance audit can build on it directly.
• Retain working papers for the professional retention period.
• Deliver an organized file that protects you and keeps future engagements cost-effective.

Compiled statements and the T2 are one continuous process, not two jobs.

• Carry the compiled balance sheet and income statement onto Schedule 100 and Schedule 125 through matched GIFI coding.
• Reconcile compiled net income to taxable income on Schedule 1, applying add-backs and deductions.
• Tie the tax provision booked in the statements to the actual tax calculated on the T2.
• Prepare the compilation and T2 as one engagement. No duplicated work, no reconciliation gap.
• Bundle the statements and T2 at one flat, AFFORDABLE fee with no hourly billing.

A single year rarely satisfies a lender or buyer. We prepare a consistent multi-year package.

• Prepare two- and three-year comparative compiled statements on a consistent basis of accounting.
• Restate prior years onto the same CSRS 4200 basis where earlier statements used the retired NTR format.
• Assemble the multi-year set in the format banks expect for mortgage and credit applications.
• Reconcile each year's statements to the T2 filed for that year across all periods.
• Deliver the full multi-year package at a flat, transparent fee with no surprise charges.