Understanding the CRA Unreported Income Formula: Accounting for GST/HST and Changes in A/R

Why should a business owner be concerned about their account’s receivable balance during a tax audit? The answer to this question has to do with how the Canada Revenue Agency (‘CRA’) normally calculates unreported income while performing a factual audit. CRA ‘Unreported Income’ Formula In most scenarios, the CRA auditor starts collecting data for the […]

Generating an HTML Table Using Shell Script

If you ever need to generate an HTML table from file data, here is a basic shell script that should do the trick. If you’d rather use Python, check out the Python 3 tutorial here. #!/bin/bash # Run as: table.sh < {input-file-name} > {output-file-name} # The script requires a space-delimited data file to parse into […]

A Quick Guide for Configuring LVM

So, you’ve got a hard disk or solid state drive that you need to partition and you’re thinking about configuring it with Logical Volume Manager (“LVM”). Here’s a quick walk-through of the steps needed to get LVM working on your drive. LVM Basics Let’s first look at some basic LVM terminology. It’s helpful to think […]

Completing a GST/HST Return with Spreadsheet-Based Method Data

When preparing returns from poor or damaged corporate records, several forms of data reconciliation are required. As previously described, the spreadsheet-based method is a useful tool for preparing certain data reconciliations. In its first form of reconciliation, the spreadsheet-based method focuses on the preparation of financial statements, specifically the income statement and balance sheet. Financial […]

Converting Corporate Bank Statements to Financial Statements: A last-resort, spreadsheet-based method

The purpose of this document is to illustrate a spreadsheet-based method to assist in compiling financial statements from corporate bank account data. Use of this method may be appropriate in cases where a corporation has fallen behind on its accounting responsibilities; is undergoing a corporate tax or trust exam audit with lost, incomplete or erroneous records; or when an inactive corporation has few transactions in a reporting period and requires financial statements in short order.