Everyone has heard the saying “two sets of books, one for the
bank and one for the tax department”. The reality is that this
statement is actually true.

All businesses do in fact run two sets of books. Accounting is
processed under Generally Accepted Accounting Principals
(GAAP) while the Income Tax Act (ITA) has its own set of rules for
accounting for tax purposes.

To maximize business potential, management must be consistently
adding real economic value to the business. At The Accounting
Place, we can help you analyze current performance, establish
realistic plans and budgets, set both financial and non-financial
performance indicators and then monitor your progress.

And we do all of this while keeping a watchful eye on your tax
situation.

TALK TO US …