Accounting Compilations

We can help with your accounting needs.
How Can We Help You?

  • This field is for validation purposes and should be left unchanged.

Accounting Compilations

No matter what size of business you own or operate – from an individual sole proprietorship to a large corporation – the Canada Revenue Agency has specific reporting requirements to which you will need to adhere to remain compliant and avoid significant fines and penalties. That includes not only your annual tax return, but also payroll returns (T4 slipd and T4 summaries), dividend forms (T5 slipd and T5 summaries) and GST returns.

To help you stay compliant and file those tax forms as required, your company may benefit from an accounting compilation.

What is an accounting compilation?

An accounting compilation is a summary or general overview of your company’s finances based on financial information supplied by company management. Essentially, the compilation provides a financial overview presented in a statement format to help management monitor performance. The compilation does not guarantee accuracy by the accountant. Because a compilation uses information provided by the management with no verification or testing by the accounting firm, it isn’t necessary to adhere to accepted Canadian accounting principles during preparation. As a result, a compilation can be faster and less costly than formal reviews or preparation of verified financial statements.

Accounting compilation services for your company’s needs:

A compilation can be especially useful in tax planning activities, helping businesses ensure they’re able to identify and take advantage of every available tax break and credit for which they qualify, not just for the current tax year but for future tax years as well.

At Hogg, Shain and Scheck, our team of accounting professionals is experienced in providing accounting compilation services to aid Canadian businesses of all sizes in tax planning and other planning activities so they can build more successful and profitable futures. We will make sure your compilation is completed in the most cost-effective and timely manner so you can meet critical tax deadlines and lay a firm foundation for the most advantageous tax positioning of your company in the future.

Hogg, Shain and Scheck provides a full complement of accounting services for Canadian businesses of all sizes. If you’d like to learn more accounting compilation services or any of the other services our firm provides, contact us at 647-557-7591 and schedule an appointment to with one of our advisors today.

What our clients are saying

The latest from our Blog, News, and Events

  • Welcome Ninette Bishay

    February 23, 2018 by

    Hogg, Shain & Scheck is delighted to welcome Ninette Bishay, CPA, CA, as its newest Partner. Ninette has spent most of her career, over the last 12 years, working exclusively with Charities and Not-for-Profit organizations, by providing assurance and business advisory. Ninette is dedicated and passionate about supporting organizations that make a difference in our
    Read More

  • Non-Resident Speculation Tax

    February 22, 2018 by

    Overview Effective April 21, 2017, the Government of Ontario introduced the Non-Resident Speculation Tax (the “NRST”). The NRST is a 15% tax on the value of consideration paid to purchase or acquire an interest in residential property located in the Greater Golden Horseshoe Region (the “GGHR”) by any of the following: individuals who are not
    Read More

  • Welcome to our Partners and Principal

    February 16, 2018 by

    We are pleased to announce that Ninette Bishay is joining as a Partner, and as one of our not-for-profit experts. Ninette brings a wealth of experience, primarily working with not-for-profit organizations and charities, including Government-funded organizations, private educational institutions and member-based associations. In addition, we are pleased to highlight a couple of advancements to the HSS
    Read More

  • Key Information on the Canadian Disability Tax Credit

    February 8, 2018 by

    The disability tax credit (the “DTC”) is a non-refundable tax credit designed to help defray the unavoidable costs associated with an individual’s disability. The DTC is available either to the person with the disability, or to a person supporting the disabled person. For the 2018 year, the federal disability amount is expected to be approximately
    Read More