--- title: "Financial Statement Preparation Services in BC | CPA" url: https://www.everstonecpa.com/financial-statement-preparation-canada description: "Lender-ready year-end financial statements for incorporated Canadian companies — balance sheet, income statement and notes, by a CPA. Ask for a quote." type: service-or-info updated: 2026-10-08 summary: "Year-end financial statements for a Canadian corporation are the balance sheet, income statement and notes that support the T2 corporate return and satisfy lenders . Most owner-managed companies need a compilation under CSRS 4200 rather than an audit. EverStone prepares statements and the corporate return together, online, for a fixed quoted fee." faq_count: 7 publisher: EverStone CPA Inc., a Chartered Professional Accountant firm registered with CPA British Columbia and CPA Alberta service_area: British Columbia, Alberta, Ontario and Manitoba language: en-CA contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online --- [Home](https://www.everstonecpa.com/) Year-End Financial Statements, Prepared by a CPA Numbers you can rely on [Home](https://www.everstonecpa.com/) [Services](https://www.everstonecpa.com/services) Financial Statements # Year-end *financial statement preparation* by a CPA Every incorporated business needs a clean set of year-end statements — for its T2 return, for the bank, and for its own decisions. We prepare them properly, explain what they say, and stand behind the numbers. EverStone CPA prepares year-end statements for corporations across BC and the rest of Canada — fully remotely. [Get My Fixed Quote](https://www.everstonecpa.com/book-online?service=corporate-tax#enquiry-form)[Ask a Free Question](https://www.everstonecpa.com/quick-question) **Quick answer:** Year-end financial statements for a Canadian corporation are the balance sheet, income statement and notes that support the T2 corporate return and satisfy [lenders](https://www.everstonecpa.com/for-lenders). Most owner-managed companies need a compilation under CSRS 4200 rather than an audit. EverStone prepares statements and the corporate return together, online, for a fixed quoted fee. One package, three parts, and two very different readers. Your financial statements are the summary of a whole year: what the business earned, what it owns and owes, and where the cash went. They feed directly into your corporate tax return, and they’re the first thing a lender or investor asks for. We prepare year-end statements for incorporated BC businesses that are accurate, presented to standard, and — just as importantly — explained in plain English so you actually understand your own numbers. ## What we prepare - Balance sheet — what the corporation owns and owes at year-end - Income statement — revenue, expenses and profit for the year - Statement of [retained earnings](https://www.everstonecpa.com/glossary#retained) and cash flow where needed - Notes to the financial statements, to the required standard - Statements structured to feed directly into your T2 return - A plain-English walkthrough of what the numbers actually mean Why they matter ## What good financial statements do for you Statements aren’t just a filing formality. Done well, they’re the most useful management tool a small corporation has. ### They drive your tax return Your [T2 corporate return](https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/corporation-income-tax-return.html) is built on your financial statements. If the statements are sloppy, the return is too — and errors flow straight through to what you owe or what you’re exposed to in a review. Clean statements are the foundation of a clean return. ### The bank will ask for them When you apply for financing, a lease, or a mortgage, the lender wants year-end statements — often CPA-prepared. Statements that are clear and properly presented make you look like a business worth lending to. We prepare them with that audience in mind. ### They tell you how you’re actually doing Bank balance isn’t profit. Your statements separate real profit from cash timing, show your [margins](https://www.everstonecpa.com/pricing-and-margin-analysis), and reveal trends you can’t see from your account. We walk you through them so they inform decisions, not just filings. ### They’re a record you can defend If [CRA reviews](https://www.everstonecpa.com/cra-review-and-audit-support) your corporation, well-prepared statements backed by proper bookkeeping are your first line of defence. We build them on reconciled books, not guesswork. ## From the statements to the T2 Year-end financial statements are what the corporate tax return is built from. The balance sheet and income statement become the GIFI schedules of the T2 (Schedules 100 and 125); the fixed assets become the capital cost allowance (CCA) claim on Schedule 8; and dividends declared in the year become T5 slips for the shareholders. That is why statements prepared under CSRS 4200 and the T2 are best prepared together, by the same CPA, from the same closed books. On price: for a one-owner trades corporation with around 200 transactions a year, monthly bookkeeping, payroll and the year-end T2 with financial statements together usually run $500–$700 a month all-in, as published on [our pricing page](https://www.everstonecpa.com/pricing). Statements on their own are quoted in writing after we review your enquiry. How it works Statements are only as good as the structure underneath them. A [chart of accounts built around GIFI codes](https://www.everstonecpa.com/blog/chart-of-accounts-small-business-canada) and a disciplined [month-end close](https://www.everstonecpa.com/blog/month-end-close-checklist-small-business) are what make year-end preparation straightforward. ## Working with EverStone, start to finish 1 ### We reconcile the year We start from your bookkeeping — either ours or yours — and reconcile the year so the statements rest on accurate numbers. We quote a fixed fee up front. 2 ### We prepare the statements We produce your balance sheet, income statement and notes to standard, structured to feed straight into your T2 corporate return. 3 ### We explain them to you We walk you through what the statements say in plain English — your profit, your margins, your position — so the year-end is useful, not just filed. Financial statements are prepared alongside your [corporate tax return](https://www.everstonecpa.com/tax-services) and rest on solid [bookkeeping](https://www.everstonecpa.com/accounting-services). For businesses that need a formal engagement, see our [compilation engagement](https://www.everstonecpa.com/compilation-engagement-canada) service. Questions ## Financial statement questions **How much do year-end financial statements cost?** It depends on the size and complexity of your business and the state of your bookkeeping. Rather than publish a number that wouldn’t fit your situation, we give you a fixed quote after we review your enquiry — so you know the price before any work begins. [Ask about your case →](https://www.everstonecpa.com/quick-question) **Do I need financial statements if I’m a small corporation?** Yes. Every incorporated business needs year-end statements to prepare its T2 return, and you’ll need them any time you deal with a bank or lender. Even a one-person corporation benefits from a clear picture of its own results. **What’s the difference between financial statements and a compilation?** Financial statements are the documents themselves — balance sheet, income statement, notes. A compilation engagement is a specific type of CPA engagement (under standard CSRS 4200) that produces those statements with a compilation engagement report attached. If you need the formal report — often for a lender — we can do that too. **Can you prepare statements from my existing bookkeeping?** Yes, if the books are reliable. We’ll review them first; if there are gaps, we reconcile before preparing statements, because statements are only as good as the records under them. **Will you explain what the statements mean?** Always. A set of statements you can’t read isn’t much use. We walk you through your profit, margins and position in plain English so the year-end actually informs your decisions. **What do you need from me to prepare year-end statements?** Your bookkeeping file or bank and credit card statements for the full year, loan and lease agreements, details of any equipment bought or sold, payroll records, and last year’s statements and tax return if a different accountant prepared them. Missing pieces are the usual cause of delay, so the list is confirmed up front rather than discovered halfway through. **How long does a year-end take once I hand everything over?** It depends far more on the state of the bookkeeping than on the statements themselves. A reconciled file moves quickly; a year of uncategorized transactions has to be cleaned up first, which is a separate piece of work. You will be given a realistic timeline and a fixed quote in writing after the file has been reviewed, before anything begins. **Fixed fees**Clear, fixed pricing. You approve the fee before any work begins. No surprise bills. **One day**We reply to every enquiry within one business day, usually the same day. **CPA-led**Every file is handled personally by a CPA, never passed to junior staff. **No obligation**Sending an enquiry is free, with zero pressure and no obligation. What clients say ## Why clients stay with EverStone Rated 5.0 on Google across 21 client reviews. ★★★★★ “…We switched to him last year for both our personal and small-business taxes — responsive, knowledgeable and quick.” Heather Powers Verified Google Review ★★★★★ “…have been completing my bookkeeping, taxes and financials for the last 2 years and they have been amazing. Thank you!” R. H. Verified Google Review ★★★★★ “…He is very knowledgeable and has saved me tons in taxes by restructuring my group of companies — the best accountant I’ve worked with in the last 10 years, after switching from three different firms.” Matt Hildebrandt Verified Google Review [Read our Google reviews](https://www.everstonecpa.com/reviews) Information on this page was last reviewed in ** July 2026 **. See our [who reviews this](https://www.everstonecpa.com/editorial-policy). We work with owner-managed businesses across BC online — [virtual accountant in Vancouver](https://www.everstonecpa.com/accountant-vancouver) and beyond. What the statements are used for, and what sits behind the numbers: [the year-end checklist for incorporated owners](https://www.everstonecpa.com/blog/year-end-tax-checklist-incorporated-owners), [how inventory is valued on the balance sheet](https://www.everstonecpa.com/blog/inventory-accounting-bc), [capital cost allowance and depreciation classes](https://www.everstonecpa.com/blog/capital-cost-allowance-cca-classes-canada), [how shareholder loans appear in the accounts](https://www.everstonecpa.com/blog/shareholder-loans-canada-taking-money-out-of-corporation), [the bookkeeping errors that show up at year end](https://www.everstonecpa.com/blog/bookkeeping-mistakes-small-business). ## Year-end statements by location What a set of statements needs to show depends heavily on who is going to read it, and that varies by local economy. In the Fraser Valley: [financial statements in Abbotsford](https://www.everstonecpa.com/financial-statements-abbotsford) (farm lenders and program reporting), [Chilliwack](https://www.everstonecpa.com/financial-statements-chilliwack) (quota and herd), [Langley](https://www.everstonecpa.com/financial-statements-langley) (inventory valuation), [Mission](https://www.everstonecpa.com/financial-statements-mission) (equipment and leases), [Surrey](https://www.everstonecpa.com/financial-statements-surrey) (bonding and work in progress), [Maple Ridge](https://www.everstonecpa.com/financial-statements-maple-ridge) (unbilled work and deposits) and [Aldergrove](https://www.everstonecpa.com/financial-statements-aldergrove) (small owner-managed corporations). Elsewhere in BC: [Vancouver](https://www.everstonecpa.com/financial-statements-vancouver) (outside shareholders and deferred revenue). Year-end statements look back once a year. [monthly reporting between year ends](https://www.everstonecpa.com/management-reporting) is what tells you where you stand in July. Where a lender or a shareholders’ agreement calls for assurance rather than a compilation, the work shifts to [getting the file ready for an external engagement](https://www.everstonecpa.com/audit-review-readiness). ## Related reading Guides and tools that go deeper on what this page covers. [The capital gains reserve: spreading a gain when the money arrives over years Sold something and taking payment over years? A reserve can move the tax to follow the cash — for a limited number of years, if the sale qualifies.](https://www.everstonecpa.com/blog/capital-gains-reserve-canada) [Tax preparation in Surrey Tax preparation for Surrey businesses with more than one owner or company — returns that have to agree with each other, prepared by one CPA.](https://www.everstonecpa.com/personal-tax-accountant-surrey) [Tax preparation in Abbotsford CPA tax preparation for Abbotsford — personal and corporate returns prepared, reviewed with you, and e-filed.](https://www.everstonecpa.com/personal-tax-accountant-abbotsford) [Compilation, review or audit — the differences](https://www.everstonecpa.com/compilation-vs-review-engagement) [For brokers with a deal stuck on statements](https://www.everstonecpa.com/for-lenders) [Which statement level does your reader require?](https://www.everstonecpa.com/compilation-or-review-what-you-need) [Every fiscal year-end, and the filing month it creates A corporation with a March year-end files by September. Find your fiscal year-end in the table and see your T2…](https://www.everstonecpa.com/year-end-filing-months) [The Year-End Playbook: year-end handled in five short emails The Year-End Playbook: corporate year-end for owner-managers in five short emails — documents, tax moves, paying…](https://www.everstonecpa.com/year-end-playbook) ## Year-end statements by city The same year-end work, written up for each city. - **British Columbia:** [Abbotsford](https://www.everstonecpa.com/financial-statements-abbotsford), [Chilliwack](https://www.everstonecpa.com/financial-statements-chilliwack), [Mission](https://www.everstonecpa.com/financial-statements-mission), [Langley](https://www.everstonecpa.com/financial-statements-langley), [Surrey](https://www.everstonecpa.com/financial-statements-surrey), [Maple Ridge](https://www.everstonecpa.com/financial-statements-maple-ridge), [Aldergrove](https://www.everstonecpa.com/financial-statements-aldergrove), [Vancouver](https://www.everstonecpa.com/financial-statements-vancouver), [Victoria](https://www.everstonecpa.com/financial-statements-victoria) - **Alberta:** [Calgary](https://www.everstonecpa.com/financial-statements-calgary), [Edmonton](https://www.everstonecpa.com/financial-statements-edmonton) - **Manitoba:** [Winnipeg](https://www.everstonecpa.com/financial-statements-winnipeg) - **Ontario:** [Toronto](https://www.everstonecpa.com/financial-statements-toronto), [Ottawa](https://www.everstonecpa.com/financial-statements-ottawa) ## Year-end statements in Alberta Alberta businesses file GST with no provincial sales tax and, for corporations, a separate AT1. City pages: [Calgary](https://www.everstonecpa.com/financial-statements-calgary), [Edmonton](https://www.everstonecpa.com/financial-statements-edmonton), [Airdrie](https://www.everstonecpa.com/financial-statements-airdrie), [Red Deer](https://www.everstonecpa.com/financial-statements-red-deer), [Lethbridge](https://www.everstonecpa.com/financial-statements-lethbridge), [Medicine Hat](https://www.everstonecpa.com/financial-statements-medicine-hat), [St. Albert](https://www.everstonecpa.com/financial-statements-st-albert), [Sherwood Park](https://www.everstonecpa.com/financial-statements-sherwood-park), [Grande Prairie](https://www.everstonecpa.com/financial-statements-grande-prairie) and [Fort McMurray](https://www.everstonecpa.com/financial-statements-fort-mcmurray). ### Starting fees Every fee is fixed in writing before any work begins. - **Corporate year-end and T2 return** fixed fee, quoted in writing *This page* - **Monthly bookkeeping, GST/PST filing included** from $325 a month - **Payroll, remittances, T4s and ROEs** included in monthly bookkeeping - **Books, payroll and the year-end T2 together** $500–$700 a month - **Personal tax return (T1)** from $125; self-employed or rental $275–$500 - **Catch-up bookkeeping** from $2,200 per year of records - **Controller or CFO support** controller from $1,650, CFO from $2,750 a month - **One-off advice call with a CPA** $225 plus GST [Get My Fixed Quote](https://www.everstonecpa.com/book-online?service=corporate-tax#enquiry-form) Statements are stage three of the year end. See the [year end hub](https://www.everstonecpa.com/year-end-hub) for the planning and bookkeeping stages that come first. Unsure whether last year’s work was handled correctly? You can [have the return reviewed independently](https://www.everstonecpa.com/second-opinion), a fixed-fee, no-obligation review. ## The forms and the dates A compilation engagement is performed under CSRS 4200, the standard that replaced the Notice to Reader in 2021. The statements carry a compilation engagement report and a note on the basis of accounting, and the CPA does not express assurance on them. Where a lender or agreement requires assurance, a review engagement (CSRE 2400) or an audit is a different, larger engagement and is scoped separately. The statements feed the T2's GIFI schedules directly. ## Who this is for in the Fraser Valley Year-end statements for Fraser Valley corporations are asked for by three readers. The CRA reads them through the GIFI schedules in the T2; the bank, for an Abbotsford or Chilliwack operating line or a Langley equipment loan; and a bonding company or landlord who wants to see a compilation from a CPA. Owners in Mission and Surrey selling or bringing in a partner want the same thing for the buyer. ## What sets the fee A compilation engagement is a fixed fee quoted in writing, set by the state of the books at year-end and the number of items that need a note — related-party balances, shareholder loans, capital assets, inventory. Statements prepared from books this office keeps monthly are quoted at the lower end because the reconciliation work is already done; statements from a shoebox are quoted with the catch-up work stated separately. A review engagement, where a lender requires assurance, is scoped and quoted as its own engagement. ## Other bookkeeping and accounting work The rest of what this covers, and the page each one is on. [Monthly bookkeeping Monthly bookkeeping for Canadian incorporated businesses: reconciled books, sales tax filed, payroll…](https://www.everstonecpa.com/monthly-bookkeeping-services) [Payroll Remote payroll for incorporated Canadian businesses](https://www.everstonecpa.com/payroll-services-canada) [Catch-up bookkeeping Months or years behind on your books? Catch-up bookkeeping with a CPA, handled calmly…](https://www.everstonecpa.com/catch-up-bookkeeping) [All bookkeeping and accounting Monthly bookkeeping, payroll, year-end financial statements and catch-up work for incorporated…](https://www.everstonecpa.com/accounting-services) ## Need clean year-end statements? One Chartered Professional Accountant, start to finish. Fixed fees, quoted in writing before any work begins, and no obligation from a first conversation. [Get My Fixed Quote](https://www.everstonecpa.com/book-online) [Ask a Free Question](https://www.everstonecpa.com/quick-question) Email info@everstonecpa.com ★★★★★ “Personal. Professional. Responsive. Plus he saved me a bundle!” Corrin Skalbeck · Google Local Guide --- Source: https://www.everstonecpa.com/financial-statement-preparation-canada Prices: https://www.everstonecpa.com/pricing · Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online