• Your Path to Financial Clarity and Success

    Simplify your accounting tasks with our comprehensive general accounting services. Our team of experts will handle your financial records, bookkeeping, tax preparation, and more. Stay on top of your finances and make informed business decisions with our reliable and efficient accounting solutions.

General Accounting Services

Our team of highly qualified and experienced accountants offers a wide range of accounting services in Edmonton, designed to keep your financial records accurate, organized, and up-to-date. From startups to established enterprises, we cater to businesses of all sizes, providing them with the essential financial insights needed to make informed decisions.

Book Keeping and Financial Record Maintenance

Keeping track of financial transactions is crucial for any business, and our experts ensure that your books are maintained meticulously. We handle everything from recording day-to-day transactions to reconciling bank statements, ensuring that your financial records are always accurate and reliable.

Financial Statement Preparation

With our services, we can prepare financial statements that reflect your business's financial health accurately. These statements help you understand your company's performance, identify areas of improvement, and make strategic decisions for the future.

Tax Planning and Compliance

Navigating the complex world of taxation can be a daunting task for businesses. Our tax experts stay up-to-date with the latest tax regulations in Canada, ensuring your business remains compliant while maximizing tax efficiency and minimizing liabilities.

Budgeting and Forecasting

A well-defined budget and accurate financial forecasts are essential for effective financial planning and goal setting. Our team assists you in creating realistic budgets and forecasts, empowering you to manage your resources efficiently and plan for growth.

Financial Analysis and Advisory

Understanding the numbers is critical to making informed business decisions. Our financial analysis and advisory services help you gain valuable insights into your company's performance, profitability, and financial health, enabling you to seize opportunities and mitigate potential risks.

nevigationservices

Navigating the Financial Maze with Ease and Accuracy

Our professionals possess in-depth knowledge and expertise in accounting principles, tax laws, and industry best practices. Our commitment to staying updated with the latest developments in the financial world ensures that we provide you with accurate and relevant financial advice.

Count on us for your Counting Needs

Whether you need basic bookkeeping or comprehensive financial management, we offer flexible and affordable packages that align with your budget.

Experience the Difference with Faber

Choosing the right accounting company is crucial for the success of your business. When you collaborate with us, you can expect:

accouhntingsolutions 1

Personalized Attention

We treat every client as a priority, offering personalized attention and support to address your specific accounting needs. Our team is always available to answer your questions and provide guidance.

accouhntingsolutions

Timely and Reliable Services

You can rest assured that your accounting tasks will be completed promptly and accurately. We understand the value of time and strive to deliver our services without delays.

accouhntingsolutions 2

Data Security and Confidentiality

Your financial data is sensitive and crucial to your business. We prioritize data security and maintain strict confidentiality to safeguard your information.

accouhntingsolutions 3

Proactive Approach

We believe in being proactive rather than reactive. Our team identifies potential financial challenges and opportunities, allowing you to take necessary actions well in advance.

accouhntingsolutions 4

Growth-Oriented Strategies

Beyond managing your books, we partner with you to create growth-oriented strategies, providing valuable financial insights that help drive your business forward.

Taxation Advisory Accounting Finance
Taxation Advisory Accounting Finance
accountingintegrity 1

Putting Integrity Back into Accounting

If you are seeking the best accounting services in Edmonton, hire our experts. With our team of dedicated professionals, unmatched expertise, and personalized approach, we are committed to helping your business thrive financially. Maximize your business’s potential with our top-notch general accounting services in Edmonton.

Making Cents of your Financial World

The Faber Advantage

Choosing our company for your general accounting needs comes with several advantages that set us apart from other accounting firms:

Industry Expertise

Our team of accountants specializes in various industries, including manufacturing, healthcare, real estate, technology, and more. This industry-specific knowledge allows us to address the unique challenges and opportunities your business faces.

Technological Edge

We leverage the latest accounting software and technology to streamline our processes and ensure accurate and efficient accounting services. Embracing technology also means enhanced data security and easier access to your financial information.

Proactive Tax Planning

Tax laws are complex and ever-changing, but we stay ahead of the curve to provide you with effective tax planning strategies. We help you identify tax-saving opportunities and ensure compliance with all relevant tax regulations.

Cost-Effective Solutions

Outsourcing your general accounting needs can save you time and money. Our cost-effective solutions allow you to focus on growing your business while we handle the financial aspects.

Client Education

We believe that an educated client can make better financial decisions. As part of our service, we educate our clients on essential financial concepts and reports, empowering them to be actively involved in their business's financial management.

contactusnew

We Do the Math, You Do the Business

We are more than just accountants; we are your partners in success. We take the time to understand your business goals, challenges, and aspirations. Our proactive approach and strategic financial insights will help you overcome obstacles and unlock the full potential of your business.

Let your Finances Reflect your Vision

Don’t settle for average accounting; choose our exceptional general accounting services. Let us handle your financial complexities while you focus on what you do best – running your business.

Why Choose Us for General Accounting?

As a business owner, you have a lot on your plate, and managing the financial aspects of your company can be time-consuming and overwhelming. That’s where our specialized accounting services come in to support and elevate your business to new heights.

FAQs

What are the 3 Basics of Accounting?

The three basics of accounting, often referred to as the fundamental accounting equation, are Assets, Liabilities, and Equity. This equation expresses that a company's assets (everything of value owned by the company) are financed either by its liabilities (what the company owes) or by its equity (owner's interest in the company).

Mathematically, it can be represented as Assets = Liabilities + Equity. This equation ensures that the balance sheet stays balanced, and it's the foundation upon which the double-entry accounting system is built.

Why is General Accounting Important?

General accounting is important because it provides an organized, systematic way to record, analyze, and report a company's financial transactions.

It ensures that financial data is accurate and consistent, enabling businesses to make informed decisions, comply with legal and regulatory requirements, and communicate transparently with stakeholders.

General accounting also supports budgeting and forecasting, helps in detecting fraud or errors, and plays a critical role in maintaining financial stability and growth.

What is the Most Important General Accounting Principle?

The most important general accounting principle is arguably the principle of matching. This principle requires that revenues and the associated expenses be recognized and recorded in the same accounting period.

By ensuring that costs are matched with revenues, this principle provides a clear and accurate picture of a company's profitability over a specific period. It's fundamental to the preparation of financial statements that reflect the true financial performance of an organization.

What are the Golden Rules of General Accounting?

The golden rules of general accounting describe the basic principles of the double-entry accounting system. They are:
(a) For Personal Accounts – Debit the receiver, Credit the giver;
(b) For Real Accounts – Debit what comes in, Credit what goes out;
(c) For Nominal Accounts – Debit all expenses and losses, Credit all incomes and gains.
These rules form the foundation for recording transactions and maintaining the balance and integrity of the accounting records.

What is the Accounting Cycle?

The accounting cycle is a systematic process of identifying, recording, classifying, summarizing, and reporting financial information over a specific accounting period.

It begins with the identification of financial transactions, followed by journalizing (recording) them.

The transactions are then posted to the general ledger, and trial balances are prepared to check the accuracy of the entries.

Next, adjusting entries are made for accruals and deferrals, and financial statements are prepared.

Finally, closing entries are made to reset temporary accounts for the next period, and the cycle begins anew.

This cycle ensures consistency, accuracy, and transparency in the accounting process, facilitating financial management and reporting.

Let's Talk

P 780-432-5262

Got a project on your mind? Let’s discuss.

logo e1698217805139
Faber LLP is a full-service, Edmonton-based accounting firm dedicated to helping people and their organizations plan for success. Our aim is to be the preferred firm for all of your taxation, accounting and assurance, and advisory needs.