Financial Performance

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How Does Risk Affect your Enterprise’s Balance Sheet?

April 25, 2014 by

Risk directly and indirectly affects your business’ balance sheet. Proper risk management is important to mitigating risks as to avoid excessive expenditures or the loss of growth opportunities. When a company has a high amount of risk associated with their enterprise, they should acknowledge this on their balance sheet in a number of ways. Alternatively,
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What makes Canada an attractive investment/business destination?

March 21, 2014 by

CPA, CA, BBA Canada is the second largest country in the world with a population exceeding 37 million; more than half of which resides within 150 kilometres of the U.S. border. Canada’s exports approximately 74% of goods to the United States, 10% to Europe, 4.9% to China and 2.4% to Japan. Businesses currently benefits from
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Keep Your Business and Personal Finances Separate

February 26, 2014 by

Many business owners make the mistake of combining business and personal finances, using personal funds to pay for business expenses or business funds to cover personal expenditures. While it may not seem like a big deal when you’re doing it, commingling business and personal finances can leave you with a tangled mess to unravel at
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Applying for a Business Loan: What the Bank Will Consider

February 10, 2014 by

Applying for a business loan can be a daunting endeavor, however it is often a first step towards obtaining the necessary funds to support business growth. Below is a list of factors which are likely to be considered by your bank’s credit department when determining the risk profile of your business and ultimately whether to
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5 Signs Your Business Needs an Accountant Now

February 3, 2014 by

If you’ve been handling the accounting for your business for a while, you may feel you’re pretty good at what you’re doing. The scary fact is most entrepreneurs who think they can simply pick up a piece of software to handle minor and major accounting tasks wind up losing money or even leaving themselves open
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Using accounting tools to monitor your business progress

January 29, 2014 by

Even before your business began operating, chances are you developed a business plan to help you establish your business’ purpose, set goals and plan an initial course of action. Over time, your business has evolved and hopefully, you understand how and why those changes have occurred. Having an accounting firm that can help you track
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How To Properly Prepare for Accounting Appointments

November 25, 2013 by

Certainly, preparing for an appointment with your tax accountant makes his or her task simpler, but it also benefits your business in some big ways. First, when you’re prepared, your meeting is probably going to take significantly less time, and more importantly – preparing for your appointment can help you uncover additional questions and concerns
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Financial balance is one key to personal satisfaction

November 22, 2013 by

If you own a business, to some degree, achieving a financial balance is determined by your spreadsheet and financial goals. Your financial planner can be your ally in establishing realistic goals and determining how much money can be spent on company needs and how much is available to you as salary or bonus. Having a
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What Is the Difference Between Not-For-Profit Organizations and Charities

October 8, 2013 by

Although a Not-for-Profit organization (NPO) may be thought to be the same as a charitable organization there are significant differences. What is a Not-For-Profit Organization? A NPO can either be incorporated or not incorporated. A NPO is a club, society, or association that is not a charity. It is organized and operated solely for: ■
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What is Included in Canada’s Taxpayer Bill of Rights?

August 31, 2013 by

Taxpayers in Toronto and the rest of Canada have rights. But what exactly does that include? The Taxpayer Bill of Rights is a set of 16 rights that you have in your relationship with the Canada Revenue Agency.     Canadian Taxpayer Rights As a Canadian taxpayer, you have the right to: • Receive entitlements
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