Awerix CPA Professional Corporation

Food Processing

The food and beverage industry, as the ongoing pandemic has proven, is not immune to economic fluctuations and current events – very far from it. Indeed, an industry that has always operated on razor-thin margins is more sensitive than most to downturns and changing trends. Consumers are fickle, and growing ever more so. Government regulations are tightening. Styrofoam, once ubiquitous, has vanished from food packaging, and plastic straws are soon to follow. Soon plastic bags will also no longer be allowed. These are adjustments everyone working in this industry will have to adapt to – or face the consequences.

Given the extremely tight profit margins in this industry, when is it worth it to invest in new technologies? When is it worth it to sell the business to a potentially interested buyer? When is the right time to expand? These are all questions we can help you to answer.

Here are just some of the services we can provide for you:

  • Assurance services (audit, review, and compilation)
  • Tax services (T2s, T1s, T4s, T5s, payroll remittances, HST filing and instalments)
  • Valuation (fair market value of fixed assets, inventories, etc.)
  • Other consulting services