Magma CPA helps ease the stresses of audits and reviews. We ensure integrity and transparency through financial statement audits, providing assurance for investors, CRA inquiries, and capital markets. Magma also does audits for property management and non-profit organizations.

We can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion or any other form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management for making financial decisions.

We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. We provide financial reporting on two levels of assurance of unaudited financial statements:

*Review – some analytical procedures conducted with limited assurance

*Compilation – based upon client information provided and used primarily for internal use.

Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:

*General ledger & financial statement preparation

*Bookkeeping (Monthly/Quarterly/Annual)

*Accounting system setup for new businesses

*Compilation and Review of financial statements

We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. The following are just a few of the areas in which we provide consulting services:

• Accounting software selection and implementation
• Business valuations
• Buying/selling a business
• Business process improvement / benchmarking your financial results and comparing to your peers
• Computer systems
• Financial & retirement planning
• Estate planning

We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include, but are not limited to:

• Tax planning for individuals and corporations
• Return preparation for
  • Individuals
  • Corporations
  • Estates and trusts
  • Not-for-profit organizations
• Provincial and federal commodity tax planning and compliance
• Tax considerations in matrimonial settlements
• Tax effects of buying/selling a business
• Tax effective retirement and estate planning

Due to our diverse client base, we encounter a wide array of financial and tax issues. As a result, we have gained valuable experience over the years in numerous specialized areas, many of which are listed below. We feel our ability to provide such a variety of services reflects our versatility and competency, as well as our dedication to quality client service.

• Mergers & acquisitions
• Asset protection
• Debt Management
• Business start-up or expansion
• Litigation support
• Cash flow projections
• Employee benefit plans
• Expert witness services