If your business is incorporated, the responsibility for liability lies with the corporation, which is a separate legal entity and treated as an individual. No one can touch your personal assets, just those of the corporation. Contact your attorney for sp...

If your business is incorporated, the responsibility for liability lies with the corporation, which is a separate legal entity and treated as an individual. No one can touch your personal assets, just those of the corporation. Contact your attorney for sp...

Accounting firms have different personalities. Some Calgary accountants are conventional while others are modern which reflects in their preferred communication styles. Modern firms will use video conference, Skype, email and other technologies that suppo...

As a pensioner, you may be eligible to split up to 50% of your eligible pension income with your spouse or common-law partner to reduce the amount of income tax you may have to pay, if your spouse or common-law partner is in a lower tax bracket.

As a pensioner, you may be eligible to split up to 50% of your eligible pension income with your spouse or common-law partner to reduce the amount of income tax you may have to pay, if your spouse or common-law partner is in a lower tax bracket.

An accountant may refer you to a bookkeeper to get your books straightened out, because that is what bookkeepers do. Accountants work closely with bookkeepers, usually subcontracting their services out to them from work that they have but do not want to d...

A balance sheet is the only one of the four statements that show results as of a specific date, not a time period. It records assets, liabilities, and ownership equity. A statement of changes in equity shows changes from one time period to the next, inclu...

Not-for-profit organizations are different from for-profit enterprises in several ways. At Versatile, we understand these differences and make it our mission to help you succeed in dealing with the opportunities and challenges of your particular circumsta...

Would-be entrepreneurs often dive into business with no direction or vision. They think only about the money they could make. But you cannot get to the money without a path to it. You can ask any qualified accountant in Canada; a thoughtfully drafted busi...

Corporate taxes are required to be paid three months after the fiscal year. A corporate tax year, or fiscal period, cannot exceed 53 weeks. In order to receive a tax refund, your corporate income tax return must be filed within three years of the end of a...

Calgary Chartered Accountant • Karim Bharwani • Providing accounting, tax and advisory services • For individuals & small businesses • Call 587-717-7786.

Thus, maximizing client profits is one of our passions instead of just doing the books, filing their taxes, and sending them a bill.

The Review Engagement or Limited Assurance is sometimes calling negative engagement. This type of engagement is different from a reasonable assurance engagement.

Regardless of which definition the auditor follows, however, the auditor always follows specific procedures and guidelines for handling the engagement.