Corporate year end statements can play an important role when determining child support and matrimonial property division. Therefore, lawyers need to be able to read, comprehend, and learn to read between the lines when it comes to corporate year end statements. This paper outlines information to review and consider when dealing with financial statements, including how to impute income for shareholders, question corporate expenses, and value corporations. Relevant provisions of the Federal Child Support Guidelines are also considered with respect to reviewing corporation financial statements.

This paper is part of a collection presented at LESA’s Reading Tax Returns and Corporate Financial Statements program in Edmonton on December 1, 2015 and in Calgary on December 8, 2015.