Wednesday, August 22, 2018

Accounting Firms In Brampton Play An Important Role In The Economy Of Canada

By Timothy Powell


An accountant never dies, and if he dies, he never rots, and if he rots, he smells of money. That is the golden rule of accounting. It is a saying that every true accountant knows. Accounting is a noble profession. It is just as noble as medicine, engineering, and teaching. Canada needs more accountants. One of the most rewarding careers in Canada is finance. Definitely, there is the financial reward. Accountants of the best accounting firms in Brampton usually take home a fat paycheck at the end of the month. They are also entitled to a substantial pension.

Business and commerce is the lifeline of the economy. As it is commonly said, money makes the world to go round. It is hard if not possible to imagine a world where there is no money. Such a world would simply be a very dark place to live in. As a matter of fact, money makes society to function in a seamless manner.

Enterprises support the Canadian economy. On one hand, there are the Fortune 500 companies. Canada is one of those countries in the world that has a high number of Fortune 500 companies. These are enterprises that make billions of dollars every year as revenue. On the other hand, there are the various Canadian medium and small sized businesses.

Without accounting firms, there can be no Fortune 500 companies or any kind of business in Canada. That is due to the fact that businesses depend on the services of accountants. Some businesses hire accountants and place them on the payroll. On the other hand, there are those that outsource. Government departments also require accountants for the purpose of the independent audit of books.

A firm that is based in Canada will pay corporate taxation at the end of a financial year. This will directly help the Canadian economy. Taxation will only be paid if a firm has made a profit. In case of a loss scenario, there is no taxation. Taxes make the government to keep running. It is used to finance social services.

The firm in question will also have a number of employees. It will employ some accountants. There will also be support staff who will undertake different activities. There will be customer service personnel. These are the people who will handle the customers of a firm on a daily basis. They will receive calls as well as replying to the various emails.

Canada has plenty of accounting firms. Definitely, there are the big five. These are the top auditing companies in the world. They also have a solid presence in Canada. These companies normally deal with high level clients such as governments, multinationals, banks, and insurance companies. A firm can have a mediocre reputation. Such a firm will need to be shunned. Mediocre is simply.

Canada has a well developed financial industry. That is due to the fact that it is an OECD country. Some of the best paid professionals in Canada are accountants. That is due to the fact that they offer much needed services. Accountants are primarily concerned with financial issues. They carry out financial analysis and subsequently offer financial advice to businesses.




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