Choosing Accounting Software for a Shopify Store
The best accounting software for a Shopify store in Canada is the one that gets your sales tax right, matches your payouts to your sales and…
How do accountants charge for their services?
Accountants in Canada usually charge in one of four ways: a flat fee per job, an hourly rate, a monthly retainer, or a price that scales with…
Filing Rules for Canadian Corporations and Penalties
A Canadian corporation files its T2 return within six months of its tax year end. Miss that date and the CRA charges 5% of the unpaid tax plus…
Internal Control Requirements for Canadian Businesses
Canadian law doesn’t hand every business one list of internal controls. What it does set is narrower: corporations under the Canada…
How to Handle Financial Statement Disclosures in Canada
Financial statement disclosures are the notes that sit behind the numbers: the accounting policies you chose, the terms of your debts, and…
Financial Reporting for Non-Profits in Canada Explained
Financial reporting for non-profits in Canada depends on how the group is set up. There’s no single form. A registered charity files a…
Materiality in Canadian financial reporting
Materiality is the test for whether a number, a note or a mistake in financial statements matters to the people reading them. The IFRS wording…
What Is the PSAB and Who Must Follow It?
The PSAB, short for Public Sector Accounting Board, writes the accounting standards for Canadian governments. Its standards apply to…
Business Loans and Financial Statements in Canada
Financial statements tell a lender whether your business can repay a loan, and for most business loans they’re the first thing asked…
Financial Reporting Rules for Public Companies in Canada
A Canadian public company has to file audited annual financial statements within 90 days of its year end, or 120 days if it is a venture…