--- title: "Financial Statements Victoria BC | Bids and Lenders" url: https://www.everstonecpa.com/financial-statements-victoria description: "Year-end financial statements for Victoria companies that have to show them — procurement prequalification, bonding and lender requests. Ask for a quote." type: service-in-a-city updated: 2026-10-08 summary: "Most Victoria private companies need a compilation engagement, not an audit. A compilation produces the balance sheet, income statement and a CPA communication, prepared from the same figures as the T2. EverStone prepares them remotely at a fixed fee agreed before work starts. For a one-owner trades corporation, bookkeeping, payroll and the year-end T2 with statements together usually run $500–$700 a month." faq_count: 8 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 statements](https://www.everstonecpa.com/financial-statement-preparation-canada) Victoria Year-end statements · Victoria # Financial statements for *Victoria* companies In Victoria, year-end statements are usually needed because somebody has asked for them — a procurement office, a surety, or a lender. What they ask for is not always what they need. EverStone prepares year-end statements for [Victoria companies](https://www.everstonecpa.com/accountant-victoria) remotely. [Get My Fixed Quote](https://www.everstonecpa.com/book-online)[Ask a Free Question](https://www.everstonecpa.com/quick-question) **Quick answer:** Most Victoria private companies need a compilation engagement, not an audit. A compilation produces the balance sheet, income statement and a CPA communication, prepared from the same figures as the T2. EverStone prepares them remotely at a fixed fee agreed before work starts. For a one-owner trades corporation, bookkeeping, payroll and the year-end T2 with statements together usually run $500–$700 a month. For a one-owner Victoria corporation, monthly bookkeeping, payroll and the year-end financial statements with the T2 usually cost from $500 to $700 a month all-in. The year-end covers the T2 with Schedule 1 and Schedule 50, the CCA schedule, the small business deduction, T4 or T5 slips for the owner’s pay, and the instalments for the year ahead. Three levels of assurance. Most requests are satisfied by the first. ## Who asks for statements in Victoria, and why Private companies rarely prepare statements to read them. Rather, a public-sector procurement wants proof of financial capacity, a surety is setting bonding limits, a bank is renewing a facility, or a landlord is assessing a lease covenant. Each reader wants something different, and requests often say “audited financials” when far less would do. Confirm what is required first; it is the biggest saving available, as the three assurance levels differ sharply in price. ## Compilation, review or audit A [compilation engagement](https://www.everstonecpa.com/compilation-engagement-canada) turns information you supply into statements, with a CPA communication stating no assurance is given. A review gives limited assurance through enquiry and analysis; an audit gives reasonable assurance through testing and confirmations, at far more work. For an owner-managed private company with no outside investors or statutory requirement, compilation is normal. Move up only for a genuine requirement. [Which one you actually need](https://www.everstonecpa.com/compilation-or-review-what-you-need) works through it. ## Prequalifying for public-sector work Ministries, health authorities, municipalities and Crown corporations often include a financial capacity test in prequalification, and Victoria has more suppliers facing them than anywhere else in the province. Evaluators usually test whether the business can carry the working capital the contract demands, paying staff and suppliers for months before invoices settle. So the current ratio, shareholder loans and deferred revenue matter more than profit. Confusingly presented owner loans can fail a prequalification the business would easily pass. ## Bonding, for construction and marine contractors Sureties set bonding capacity from working capital and shareholder equity, and read statements more closely than most lenders. Equipment carried far below resale value, retained earnings cut by aggressive dividends, and holdback receivable shown as ordinary all move the numbers sureties use. None is an error, but each affects presentation, so a contractor whose bonding limits its bidding should prepare the year end with that reader in mind. [Contractor accounting in Victoria](https://www.everstonecpa.com/contractor-accountant-victoria) covers the rest. ## What a lender reads first A credit adjudicator looks first at working capital, debt service coverage and receivables quality, then the notes. Shareholder loans are the usual friction: owner money left in the business strengthens the position if documented and postponed, and weakens it if ambiguous. Deferred revenue is the other: customer deposits carried as earned profit do not survive a second reading. [Lender readiness](https://www.everstonecpa.com/financing-and-lender-readiness) sets out what to have in order first. ## The statements and the T2 come from one set of numbers Schedules 100, 125 and 141 of the corporate return come from the same trial balance as the statements, so one preparer removes a whole layer of reconciliation. With separate firms, differences surface late, usually the week the return is due. The year end is one job with two outputs; see [Corporate tax in Victoria](https://www.everstonecpa.com/corporate-tax-accountant-victoria) for the return and [bookkeeping in Victoria](https://www.everstonecpa.com/bookkeeping-victoria) for the ledger behind both. ## Fully virtual EverStone is a fully virtual, one-CPA firm with no Victoria office. The year-end file is built from the books and documents sent by secure upload, the draft statements are walked through with you on a call before finalizing, and the signed set is delivered electronically, ready to forward. If the statements exist because someone is assessing the business, the forward numbers usually matter as much as the historical ones — [a forecast that gets updated](https://www.everstonecpa.com/budgeting-and-forecasting) is where that starts. For [fractional CFO in Victoria](https://www.everstonecpa.com/cfo-services-victoria), where the statements feed a bid or a facility, the scope and the fixed-fee approach are the same. Companies that also want [payroll in Victoria](https://www.everstonecpa.com/payroll-services-victoria) and [personal tax in Victoria](https://www.everstonecpa.com/personal-tax-accountant-victoria) can have both quoted together. About this article **EverStone CPA** Prepared and reviewed by a CPA at EverStone CPA, serving businesses in BC, Alberta, Ontario and Manitoba. Updated September 2026 . [About the firm](https://www.everstonecpa.com/about) · [Send an enquiry](https://www.everstonecpa.com/book-online) ## What a year-end file contains What a year-end file contains Statements and the tax return come from one set of numbers — for a business operating in Victoria, British Columbia | Component | What it shows | | Balance sheet | What the corporation owns and owes at the year-end date | | Income statement | Revenue and expenses over the fiscal year | | Compilation engagement report | The CPA communication that accompanies compiled statements | | Notes, where applicable | Related-party balances, commitments and the basis of accounting used | | T2 schedules | Schedules 100, 125 and 141, built from the same figures as the statements | Source: [Financial statement preparation](https://www.everstonecpa.com/financial-statement-preparation-canada). General information, not advice. In Victoria, EverStone also works with [consultants](https://www.everstonecpa.com/consultant-accountant-victoria), [realtors](https://www.everstonecpa.com/realtor-accountant-victoria) and [restaurants](https://www.everstonecpa.com/restaurant-accountant-victoria). Common questions ## Victoria financial statement questions **Do I need audited statements?** Usually not. Most owner-managed private companies with no outside investors and no statutory requirement need a compilation engagement. Requests often say “audited” when the requester would accept far less, so it is worth asking them directly before commissioning anything. [Ask about your case →](https://www.everstonecpa.com/quick-question) **What is a compilation engagement?** Statements prepared from information you provide, accompanied by a CPA communication stating plainly that no assurance is provided. It is the normal level for an owner-managed Canadian private company. **A procurement process asked for financials. What do they want?** Generally evidence you can carry the working capital the contract demands. That makes the current ratio, shareholder loan presentation and deferred revenue more consequential to the evaluation than the profit figure. **How do statements affect bonding capacity?** Sureties set capacity largely from working capital and shareholder equity. Depreciated equipment values, dividend policy and how holdback receivable is presented all move the numbers a surety works from. **Can one person do the statements and the T2?** Yes, and it is usually better. Schedules 100, 125 and 141 are built from the same trial balance as the statements, so splitting the work across two firms creates reconciliation differences that surface in the week the return is due. **Do you have a Victoria office?** No. EverStone works online and prepares year-end statements for Victoria companies remotely. The file is assembled from records sent by secure upload link and the signed set is delivered electronically. **What do year-end financial statements cost in Victoria?** Victoria businesses pay the same published fees as everyone else. Statements on their own are quoted after we review your enquiry. For a one-owner trades corporation, bookkeeping, payroll and the year-end T2 with statements together usually run $500 to $700 a month all-in. [See the published fees](https://www.everstonecpa.com/pricing). **Do you work with businesses outside Victoria itself?** Yes. Year-end statements for businesses in Saanich, Langford, Oak Bay, Esquimalt and the Westshore are prepared exactly as for Victoria ones, from the same closed books, at the same fee. ## Related services and local guides The rest of what we do for Victoria businesses, and the reference pages behind this one. [Compilation or review engagement](https://www.everstonecpa.com/compilation-vs-review-engagement) [Financing and lender readiness](https://www.everstonecpa.com/financing-and-lender-readiness) [Audit and review readiness](https://www.everstonecpa.com/audit-review-readiness) [Compilation engagements in Canada](https://www.everstonecpa.com/compilation-engagement-canada) [Year-end document checklist What to gather before the year-end file is assembled.](https://www.everstonecpa.com/year-end-document-checklist) [Accountant in Victoria](https://www.everstonecpa.com/accountant-victoria) [Corporate tax (T2) in Victoria](https://www.everstonecpa.com/corporate-tax-accountant-victoria) [Bookkeeping in Victoria](https://www.everstonecpa.com/bookkeeping-victoria) [GST/HST filing in Victoria](https://www.everstonecpa.com/gst-hst-filing-victoria) [Payroll in Victoria](https://www.everstonecpa.com/payroll-services-victoria) [Contractor accounting in Victoria](https://www.everstonecpa.com/contractor-accountant-victoria) [Financial statements in Vancouver](https://www.everstonecpa.com/financial-statements-vancouver) [Financial statement preparation](https://www.everstonecpa.com/financial-statement-preparation-canada) [Which engagement you need](https://www.everstonecpa.com/compilation-or-review-what-you-need) [Accountants across British Columbia](https://www.everstonecpa.com/accountant-british-columbia) [British Columbia tax facts](https://www.everstonecpa.com/bc-tax-facts) [Corporate tax hub Where the T2 schedules behind the statements are explained](https://www.everstonecpa.com/corporate-tax-hub) [The month-end close](https://www.everstonecpa.com/month-end-close) [Fractional CFO in Victoria](https://www.everstonecpa.com/cfo-services-victoria)[Personal tax in Victoria](https://www.everstonecpa.com/personal-tax-accountant-victoria) ### 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) --- Source: https://www.everstonecpa.com/financial-statements-victoria Prices: https://www.everstonecpa.com/pricing · Contact: info@everstonecpa.com · https://www.everstonecpa.com/book-online