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Step-by-Step guide to Preparing Notice to Reader engagement

In this course, you will prepare a Compilation/ Notice to Reader Engagement including the working paper file, financial statements and the corporate tax return for a client. Prerequisite for the course is CW working paper and CV financial statement course.




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In this course, you will be provided with the raw client's year-end financial information and supporting documents such as year-end bank statements, A/R aging report, Fixed asset invoices, loan document and support for accounting accruals. You will prepare a Compilation or Notice to reader engagement working paper file including financial statements and a full set of the corporate tax return. 

This is an integrative course where you will learn how to integrate accounting, audit, and tax knowledge to complete an engagement using a working paper and corporate tax software. You will learn how accounting, audit, and tax are inter-linked in a real life scenario. 

The training will be similar to what you will be expected to perform/prepare as an entry level accountant at a CPA firm all by yourself. 

This course is extremely important and relevant for small-mid size CPA firms. Since as an entry level staff accountant you will be given full charge of compilation engagement and you will be responsible for each aspect of accounting, audit and corporate tax.


Prerequisite for this course is as follows




Course Walkthrough

  • General Information
  • Section 9200 of CPA Hand Book - Compilation Engagements
  • NTR File Documentation Requirements
  • Accounting Adjusting Journal Entries
  • False and/or Misleading - CPA member must be aware of?
  • Please refer to Caseware course to if you are not ...
  • ABCD Inc. Trial Balance
  • Common Procedures to performScan through the trail...
  • STEP 3 - Enter Client's Trial Balance into CaseWare File and Assign LeadSheets
  • Here is a sample email that you will send to the c...
  • Sample email to client relating - outstanding list of questions
  • Support for Cash and Bank at yearend
  • Copy of year-end Bank Statement
  • Copy of year-end Bank reconciliation statement
  • Support for Accounts Receivable balance at yearend
  • AR Aging report at year-end
  • Support for Prepaid balance at yearend
  • Copies of Prepaid insurance documents
  • Support for Intercompany balance at yearend
  • Inter-company support at year-end
  • Support for Accounts Payable and Accrued liabiliti...
  • AP Aging report at year-end
  • GST return at year end
  • Statement of payroll deduction at year end
  • WSIB statement at year end
  • Support for Loan balances at yearend
  • Copy of the RBC Loan Agreement
  • Copy of the Truck Loan Amortization schedule
  • Common Procedures for Cash and Bank
  • Sample 1 - Cash and Bank Section of WPF
  • Sample 2 - Cash and Bank Section of WPF - Where the CPA Firm requires additional documentation for NTR
  • Common Procedures for A/R section
  • Sample Response 1 - A/R Section of WPF
  • Sample 2 - A/R Section of WPF - Where the CPA Firm requires additional documentation for NTR
  • Sample Response 1 - Prepaid Section of the WPF
  • Sample 2 - Prepaid Section of WPF - Where the CPA Firm requires additional documentation for NTR
  • Sample Response 1 - Capital Assets Section of WPF
  • Sample 2 - Fixed Assets Section of WPF - Where the CPA Firm requires additional documentation for NTR
  • Sample Response 1 - Intercompany Payable/Receivable Section of WPF
  • Sample 2 - Related Party Loan Section of WPF - Where the CPA Firm requires additional documentation for NTR
  • Sample Response 1 - Accounts Payable and Accrued Liabilities Section of the WPF
  • Sample 2 - Accounts Payable and Accrued liabilities section of WPF - Where the CPA Firm requires additional documentation for NTR
  • Income Taxes Payable/Refundable Section of the WPF
  • Complete a T2 return after you have completed the ...
  • Sample Response 1 - Long Term Loan Section of the WPF
  • Sample 2 - Long Term Loan section of WPF - Where the CPA Firm requires additional documentation for NTR
  • Sample Response 1 - Shareholder Loan Section of the WPF
  • Sample 2 - Shareholder Loan section of WPF - Where the CPA Firm requires additional documentation for NTR
  • Retained Earnings Section of the WPF
  • Sales and Revenues Section of the WPF
  • Cost of Goods Sold Section of the WPF
  • Operating Expenses Section of the WPF
  • FULL SOLUTION TO THE CASE
  • Excel Trial Balance
  • Certificate of Completion

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