McFarland Associates | Individual and Family Accounting

Business Accounting

We provide a complete range of services for small to medium sized businesses. This includes tracking of sales, accounts receivable, accounts payable, and expenses. Financial statements can be provided on a weekly or monthly bases, along with cash flow analysis. Financial statements may be used for tracking the profitability of the business, preparation for audits, or submission to lending institutions. Our accounting systems are adapted to the specific requirements of your business. Our specific services include:

Preparation of financial statements
Cash flow analysis and forecasting
Accounts receivable and accounts payable

Purchase and sales of businesses
Business valuation
Insolvency and wind-up

Bookkeeping

We provide bookkeeping services that range from development of a bookkeeping system for your business, cloud accounting where you input data into an online system or a complete fully managed approach. The bookkeeping services are designed to be fully integrated into other financial components, including financial statements, cash flow analysis and tax returns. We will work with you to develop a customize solution to meet your business needs.

Individual and Family Accounting

We provide a wide range of personal accounting services for families and individuals. This includes support for:

Loans
Debt management
Cash flow management
Estate accounting
Trust accounting

Retirement planning
Divorce settlements
Investment planning
Many other services

Review and Compilation Services

We provide review and compilation is the financial aspects of your business. which is distinct from a formal audit. This involves financial involving generally accepted accounting principles and performance related to key metrics. We also provide assurance and financial statements qualified with a note to the reader. Typically reviews and compilations are appropriate for private businesses managed to the owner that undertake reporting to stakeholders including financial institutions providing lending for the business. They provide a degree of assurance that the financial statements conform to IFRS (International Financial Reporting Standards) or ASPE (Accounting Standards for Private Enterprises).

Audit Support

We provide support for financial audits by third party accountants or government agencies such as the Canada Revenue Agency. This involves assistance with preparation of the appropriate information in the appropriate format for the auditors to help with a smooth audit. We also support the addressing of any data gaps and responding to questions by the auditors and resolution of issues. We work on your behalf and here to support you.

Payroll Services

We provide complete payroll services that will allow for you to spend more time focusing f on the core aspects of your business or organization. This can involve the initial set up of your new system or a redesign and streamlining of your existing system. We work with proven software and instigation to ensure that this process is reliable, efficient and cost effective.