Advisory

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5 elements of a successful business exit plan
Are you thinking of stepping away from your business or enterprise? You're not alone. More than 69% of business owners are planning their exit sometime in the next 10 years. Here are some exit stats and five things to consider when closing or selling your company.
Salaries vs. dividends
6 things to consider when deciding how to pay yourself
As a business owner, you may have wondered about the differences between paying yourself via dividends versus drawing a salary, and how this may affect your tax burden.  Assuming your business is incorporated, you have the flexibility to pay yourself via dividends, drawing a salary, or a combination of both.  But the question becomes: which...
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6 key budgeting tips for a successful business
The difference between a company that succeeds and one that fails is often cash management. Businesses typically take on debt and it is important that you have cash flow projections to provide comfort that the debt can be repaid in a timely fashion.  Having too little cash flow means you may be unable to deal...
7 ways to boost your business strategy
7 ways to develop your business strategy
How can you help your business take advantage of opportunities? Do you have a strategic plan in place to support business growth? How do you develop a business strategy to help you reach your growth goals? Here are seven tips for boosting your business strategy to position you for growth. Click here to download a...
5 key business issues restaurants are facing
(authored by RSM CANADA) Business issues and challenges for restaurants range from maintaining agile business operations to addressing a tight labor market.
New compilations standard - Virtus Group LLP
New Compilations Standard
New compilations standard CSRS 4200 will impact former “Notice to Reader” engagements. Who does this impact? If you have previously had Virtus Group issue a “Notice to Reader” report on a set of financial statements, a new standard issued by CPA Canada will affect our engagement with your company or organization and the appearance of...
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Did That Project Make Money?
All too often when meeting with construction clients, I hear the comment: “I think we made money on that job” or “that job should have made money”.  With volatility in material pricing, supply chain issues and skilled labour shortages, being able to review accurate and meaningful project profitability reports on a regular basis is more...
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How ROMRS Will Impact Your Business
Learn about ROMRS, changes to accounting standards announced in December 2018 by the Accounting Standards Board of Canada (AcSB). We take a look at how they can impact your business and its balance sheet for 2021 and beyond. What are ROMRS? Retractable Or Mandatorily Redeemable Shares (ROMRS) are commonly issued in a tax planning arrangement....
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4 Professional Services Trends in 2022 & Beyond
The past 18 months has radically transformed the professional services industry. See where accounting, finance and legal services in Saskatchewan, Canada and the rest of the world are trending in 2022 and beyond.
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Increase profitability in your business by reducing waste
How much profit is your business losing to wastes hidden inside your operations every day?  Waste elimination is one of the most effective ways to increase profitability in your business. To get rid of waste we need to fully understand exactly what waste is and where it can be found.  Processes either add value or...