International Financial Reporting Standards (IFRS) have been widely discussed in the media over the past few years, and the demand for financial statement preparation in Calgary has grown accordingly. IFRS have built a reputation as being exclusively for public enterprises and very pricey to apply for. As a result, many private companies don’t even consider IFRS as an option when seeking financial statement preparation in Calgary – so what do they use?
Accounting Standards for Private Enterprises (ASPE) is the alternate financial reporting framework used by private companies, but it has not been discussed as widely as the IFRS. Those who have encountered the ASPE during their hunt for financial statement preparation help in Calgary usually describe these standards as being a cheaper and simpler option. Despite this positive association with ASPE, and the widespread awareness of IFRS, many companies still neglect to abide by these established financial reporting frameworks for their financial statement preparation, and that’s a problem!
Investors and private company owners alike should understand that financial statement preparation in Calgary is crucial for their business’ sustained growth and profitability.
Edison Wen CPA CGA can help you find the best framework for your financial statement preparation – you can learn more about our qualified and experienced service at http://edisonwencpa.ca/services/financial-statement-preparation/. Finding financial statement preparation experts is crucial; if your financial statement preparers ignore established reporting frameworks like the ASPE and IFRS, they are basically choosing to record your financial transactions in their own personal style, which will decrease their reliability by default.
Investors and lenders want to be sure that they are making the right decisions by working with your business, and your financial statement preparation must be accurate and reliable to ensure this level of confidence. Additionally, accurate financial statement preparation will help you avoid any situations where the selling price of your company is disputed after the fact due to statements that are inconsistent with the actual actual status of the business.
To learn more about the financial statement preparation services offered at Edison Wen CPA CGA, call (403)-800-3303 now!