Services


From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Our accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.

These services include but are not limited to:
  • General ledger and financial statement preparation
  • Bookkeeping (Monthly, quarterly, or annual)
  • Accounting system setup and support
  • Payroll processing
  • Cash flow budgeting and forecasting
  • Personal financial statements
  • Employee benefit and profit-sharing plans
  • Corporate tax planning and return preparation
  • Preparation of T4, T5, T3 and other tax slips to report various income sources

We can set up financial reports for your view to streamline your business and save your valuable time. These reports are important tools that can guide your business in making financial decisions, planning, and evaluating performance. We have experience dealing with clients who use Simply (Sage) Accounting, Quickbooks, specialized accounting software packages, Excel or manual spreadsheets.
At Adams MacFarlane Chartered Accountants, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track for your financial goals. Our expertise, experience and analysis allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.
At Adams MacFarlane Chartered Accountants we focus on building close client relationships that add long-term value. This includes evaluating financial procedures and working to produce strategies that help our clients face the challenges of business planning and execution. Our clients benefit from objective analysis to assist in controlling costs, increasing efficiency, and implementing new technologies and procedures that take advantage of changes in accounting standards and tax law.

These services include but are not limited to:
  • Audits, reviews, and compilations
  • Business incorporation and restructuring
  • Accounting software selection, implementation, and support
  • Business valuations
  • Financial projections and forecasts
  • Debt and finance advising
  • Mergers and acquisitions
  • Transaction structuring and negotiations
  • Business succession

Our assurance work also applies to Not-For-Profit organizations where we provide Audit and Review assurance level work. Additionally, we can assist in the completion of the various tax reporting required for NPO’s including charity returns, information returns or T2s.
Compilations or Notice to Reader financial statements are usually requested for internal purposes and are based upon information provided by a company’s management. They do not offer assurance but may involve some adjustment to accounting records. We will prepare these statements as a basis of information to be used in the preparation of the corporate tax returns.
Effective estate and trust planning can ensure financial security for family members. For businesses, it can maintain a smooth succession of ownership. Our role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well thought out plan as to how to disburse one’s estate so as to avoid complications and to be sure wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don’t have any complications to deal with during a time of loss.
It may be prudent for us to prepare a “date of death” tax return to estimate what your tax obligation may be if you passed away tomorrow. It can assist in these planning discussions.
Our goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. We can guide you through tough decision-making processes such as asset allocation, investment performance monitoring, RRSP, RESP and TFSA funding options, retirement plans, insurance, and tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investments, Adams MacFarlane Chartered Accountants can ensure that your portfolio will take into account tax implications for an advantageous after-tax return.
Professional representation is important during a tax audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and provincial tax departments. Sometimes it can be crucial in the way questions from Canada Revenue Agency are answered so as not to impact a client’s tax situation.
Accurate record-keeping is essential to a successful business yet can also be complicated and time consuming. Adams MacFarlane Chartered Accountants can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business. Depending on the number of transactions that you have, we may either complete the bookkeeping ourselves or refer you to one our third party bookkeeping professionals.
How your business is initially incorporated with Corporate Registries can have a big impact on the options available for remuneration and the deferral and reduction of taxes. From your company’s inception through its growth and development, we can advise you on the optimal share structure, corporate tax planning and remuneration strategies. If you are already an incorporated company, it may be advantageous to restructure the company to provide creditor proofing and tax deferral and reduction options.