S1215 - Accounting offices, computerized accounting.

Operational Details
Accounting offices plan, organize and administer accounting systems for individuals and establishments. Accounting offices may also conduct field audits of businesses to ensure compliance with provisions of the Income Tax Act, Canada Pension Plan Act, Employment Insurance Act, GST Act, and Fuel Tax Act. Cost accounting may also be set up by an accounting firm and audited for accuracy. Most often accounting offices are involved in providing periodical audits, perhaps on a quarterly, half-yearly or annual basis, or when a major creditor or lending institution requires it for loan purposes. Accounting offices also analyze financial statements and reports and provide financial, business and tax advice. Incidentally, they may also act as a trustee in bankruptcy proceedings.

Bookkeeping is more of a day to day accounting service provided to small businesses who cannot afford a bookkeeper on a full or part-time basis. In this case the client brings the books to the bookkeeper who operates out of a storefront or residence. Bookkeepers use their own equipment, material, office, and are not under direction and control of the client as a worker. Looking after a client’s payroll, accounts receivables and payables are common services provided. However, small businesses may still use the larger more sophisticated accounting firms to prepare their year end statements and bank loan applications.

Computerized accounting involves offering a payroll service, whereby the client pays an administrative fee, plus amounts needed for salary and benefits, to a firm who prepares cheques for them. Other services are becoming available as well, including the payment of payables.

This industry includes Public Accountants, Chartered Accountants, Certified General Accountants, and Certified Management Accountants, articling students in accounting firms and bookkeepers.

SIC Codes
000000699 - Accounting office