We are chartered professional accountants
As the industries of small businesses and organizations evolve, accounting services become about more than accurate financial statements. The value realized through any business advisory relationship needs to change the way entrepreneurs do business.
Owner Managed Businesses
You are finally ready to take the plunge into the challenging but rewarding world of entrepreneurship. As a visionary, where many see roadblocks you recognize opportunity, opportunity that provides consumers with solutions.
At FCR we enjoy working with entrepreneurial-minded people and over the course of decades, our firm has seen every type of business start-up scenario. Regardless of your start-up situation our teams are available as resources to ensure the seamless launch of your new venture.
We work with entrepreneurs to develop a sound business strategy – a plan that will serve as your blueprint while your business grows and develops.
FCR brings a fundamental understanding of business to every entrepreneur, advising and providing insight on several integral start-up functions:
- Developing your ideal business structure
- Drafting the article of incorporation
- Review and assist the drafting of a business plan
- Help secure start up capital
- Provide introduction to commercial banks
- Establishment of accounting procedures
- Implementation of accounting software
- Advisory on managing cash flow, recording transactions and maintaining compliant records
- Book keeping and related services
Owner Managed Businesses
Once your business is up and running, it is time to prepare it for flight. Most ventures fail because there is a lack of planning, poor cash management or consecutive missed opportunities. In almost every instance these mistakes are avoidable.
Strong leadership allows businesses to succeed. Our job as accountants is to work with organizational decision makers to provide owners and managers with accurate information that allows them to make informed decisions.
Armed with a fundamental understanding of the numbers that underlie the business, decisions can be made with confidence and long-term strategic plans can be developed to ensure the uninterrupted growth of your organization.
FCR can work with you to keep your business running efficiently:
- Advisory on financial statements and ratios
- Provide vital tax planning strategy to minimize liability
- Oversee and advise on corporate payroll and payment methods
- Close out the corporate books, providing year end financial reports
- Prepare pro-forma financial statements, projections and forecasts for planning
- Advisory on cash flow management and budgets
- Provide of book keeping services and related assistance
- Facilitate the remittance and recovery of payroll, GST and retail sales tax
- Assistance with government assessments, reassessments and notices of objection
With an inspired vision, there is no limit to the potential of your business. Once a dream is off the ground, thoughtful, innovative and strategic planning will guide its course.
Entrepreneurs of established businesses continue to face challenges everyday. The majority of these challenges involve managing organizational growth and ensuring the uninterrupted continuity of day-to-day operations.
FCR works with business owners and their management to sift through the opportunities in an advisory role. Our goal is to identify potential risks and determine from a financial perspective, which opportunities are worth pursuing.
Together, our teams work to implement recommendations that make a difference for your business today tomorrow and years down the road.
FCR offers many Advisory services that help businesses manage growth:
- Analysis and reporting on financial information for strategic planning
- Provide audit or review services
- Growth and diversification strategy development
- Advise on capital asset acquisition, property and equipment purchase or leasing
- Preparation of pro-forma financial forecasts for strategic decision making
- Assistance in the selection and implementation of accounting systems and software
- Transactional accounting advisory
- GAAP conversion services including IFRS, Private Entity GAAP and PSAB
- Book keeping services and related assistance
- Provide valuations services for business acquisitions, sales and succession
- Provide both personal and corporate financial/tax planning and assistance for high net worth professionals
You have spent the majority of your time, money and resources building your dream, choosing to persevere where many have failed.
Managing your growing profits and realizing the product of your hard work can be just as challenging as getting your business off the ground.
We work with business owners to maximize your financial position, managing an overall financial plan through 4 service categories:
- Tax planning and strategy formulation
- Financial planning and asset management
- Estate planning
- Business valuation and exit strategy formulation
Once your organization is up and running, there are processes that must be maintained to ensure that operations and reporting remain compliant with government requirements.
From standard corporate tax filing to government notices of objection, our corporate, personal and commodity tax experts work to keep you compliant. Meanwhile our audit teams are always available to ensure accurate and consistent reporting.
FCR works with decision makers and managers to ensure that business organizations maintain appropriate records.
Consistent record keeping allows you to run an efficient budget while avoiding the crippling interest penalties of various authorities.
Several areas where we add value include:
- Financial statement audit and review
- Audit and review of other financial information and internal systems
- Corporate tax planning
- Preparation and filing of personal and corporate tax returns
- Preparation and filing of HST tax returns
- Assistance with payroll and retail sales tax and remittance
- Assistance with government assessments, reassessments and notices of objections
Bridging the gap between opportunity and insight
Offering opportunities that knock
As one of the largest and fastest growing accounting firms in Sudbury, we dedicate much of our recruiting efforts to discovering the most talented, progressive and well rounded young professionals.
Our team of accountants at FCR works with the management team to provide valuable insight to our accounting practices. Financial management in our industry is complex and having the available expertise to cut through that complexity allows us to complete work on time and within budget.
I’m always impressed with how promptly our Account Manager at FCR returns our call. It’s great to have the advice you need, when you need it.
Small Business Owner
Going above and beyond the traditional role of an accountant, our advisory team at FCR played a key role in a recently successful acquisition. They helped us measure value and gave us the confidence to negotiate the terms of our agreement.
The Board of Directors relies on the audit opinion issued by FCR. Their team adds value to the audit process by making sound recommendations that improve our governance model and policies.
Our clients operate in competitive business environments. In these markets, access to information that helps determine the best allocation of resources can be the difference between competitive success and failure.
Our teams have a passion for entrepreneurship and business. That’s why day in and day out; we work as an extension of our clients management teams. Together we can work to shape the vision of Northern Ontario’s inspired entrepreneurs.
Relationships are integral to delivering real value. Our practice management staff work hard to develop long lasting and sustainable relationships with clients and other service providers. But we believe in that process. It takes trust and open communication to find opportunity in challenges.
2017 Draft Legislation
As you are likely aware, on July 18th, 2017, the government announced draft legislation to amend the Income Tax Act with an aim to significantly change tax planning strategies for Canadian controlled private corporations and their shareholders due to what the Liberal government perceives as unfair tax benefits.