Large or small, every business needs accounting services. The insights that accountants provide allow you to plan and take your business to the next level. Our well experienced accountants work with you, help you manage and grow your business.
Progress Group Accounting Inc (the “PGA”) offers professional and reliable accounting services for small, medium, and large organizations. We also provide tax and accounting services for individuals and their families. We take pride in remaining current with all tax, assurance and business updates. We are committed to being in good standing and abiding by the rules and regulations of Chartered Professional Accountants of Ontario and Chartered Professional Accountants of Canada.
A financial audit is an independent, objective evaluation of an organization's financial reports and financial reporting processes. The primary purpose for financial audits is to give regulators, investors, directors, and managers reasonable assurance that financial statements are accurate and complete.
While an audit is meant to give some reasonable assurance that the financial statements are free of material misstatements, a review engagement is only meant to ascertain whether the financial statements are believable or plausible. A review provides limited assurance that the financial statements conform to generally accepted accounting principles. This type of assurance is known as negative assurance. This means that as the professional accountant is only providing assurance that nothing has come to their attention that would indicate the financial information is not presented in accordance with Canadian accounting standards for not-for-profit organizations
We are proud to provide professional taxation services in compliance with Canadian Income Tax Act for: Business Tax - Personal Tax - Private Client Services - Trust, Estate, and Succession Planning
A notice to reader or compilation is simply a compiling of information into financial statements, based on information provided by their client. No assurance is provided. Therefore, a compilation is only appropriate where users do not need assurance that the financial information conforms in all respects to Canadian accounting standards for not for-profit organizations.
Financial projection is a forecast of future revenues and expenses. Typically, the projection will account for internal or historical data and will include a prediction of external market factors. In general, you will need to develop both short- and midterm financial projections. A short-term projection accounts for the first year of your business, normally outlined month by month. A mid-term financial projection typically accounts for the coming three years of business, outlined year by year
Due diligence is a process of verification, investigation, or audit of a potential deal or investment opportunity to confirm all facts, financial information, and to verify anything else that was brought up during an M&A deal or investment process. Due diligence is completed before a deal closes to provide the buyer with an assurance of what they’re getting
Internal control is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risk to an organization
Financial reporting is the financial results of an organization that are released to the public. This reporting is a key function of the controller, who may be assisted by the investor relations officer if an organization is publicly held.
We provide our valued clients a research service for technical accounting matter in the IFRS and ASPE
We assist clients with the timely and accurate month end execution of the Financial Statement Closing Process (FSCP). This includes monthly closing and reporting of the books and records, account reconciliations, cost accruals, analysis of financial statement variances to forecast and budget and general compliance with IFRS / US GAAP and the clients Internal Controls, Policies & Procedures and overall delivery of the external audit, as well as other tasks as directed by leadership.
Progress Group Accounting Inc, which is an independent Canadian licensed public accounting firm, registered with CPA Ontario and located in Oakville, Ontario.
A lot of client’s panics when they see the audit letter from CRA. There are always chances that CRA might audit your corporation or personally, Versatile Accounting & Tax due to expert knowledge in tax help to communicate and deals with CRA directly on your behalf. This will create peace of mind for you as we will take care of all your CRA audits need.
If incorporated, businesses will have to file a corporate income tax return within six months from the year end date; however, corporate taxes are due within either sixty days or ninety days from the year end date, depending on the nature of the income. Other returns include: GST/HST for registered businesses with monthly, quarterly or annual filing deadlines
That depends on exactly what you need to be done. In an introductory meeting we will determine what level of financial accounting your business needs and the exact services that will be beneficial.