A healthy balance sheet shows a company has adequate solvency and liquidity, appropriate borrowing, adequate capital, and a positive trend or forecast. Strength in these measures will indicate the strong financial health of the corporation and should be considered by…
At Shajani CPA, we recognize that interpreting financial statements can be complex. That's why we offer specialized consulting services designed to transform your financial data into actionable strategies. Our unique approach involves comprehensive benchmarking, allowing you to measure your company's…
Introduction: Effective bookkeeping is a cornerstone of sound financial management and is crucial for meeting the compliance requirements of the Canada Revenue Agency (CRA). While traditional methods have their place, the evolving landscape of bookkeeping now offers more cost-effective and…
Understanding your organization’s bookkeeping and accounting records will allow you to recognize what has occurred in the past, predict future outcomes, and make informed management decisions. The reports supporting high-level financial statement analysis will be the foundation of the organization’s…
Making financial decisions with accurate information is imperative and understanding your cash balance is fundamental to the decision-making process. Cash is usually the first item on the balance sheet of the financial statements and can be an indicator of the…
The Statement of Income, often referred to as the Income Statement or Profit and Loss Statement, is a critical financial document that offers a detailed overview of a company’s revenue, expenses, and profitability over a specific period. As an experienced…
The balance sheet is a fundamental component of a company’s financial statements, serving as a snapshot of its financial position at a specific point in time. As experienced Chartered Professional Accountants (CPAs), we recognize the balance sheet's crucial role in…
Transitioning into retirement requires not just emotional readiness but also a well-thought-out income plan, informed by a deep understanding of taxation in this phase of life. As a tax professional with expertise in trust and estate planning, I emphasize the…
The evolving tax environment, particularly post the 2018 federal budget, necessitates strategic adjustments in retirement savings for small business owners. As a tax professional with a Trust and Estate Practitioner (TEP) designation, I emphasize the importance of adapting to these…
In Alberta, Canada, planning for future healthcare decisions is a crucial aspect of personal and legal preparedness. This is where Advance Care Directives and Personal Directives come into play. These legal documents play a pivotal role in ensuring that your…