What is the corporate year end of a corporation?

Saskatchewan, Canada


The following excerpt is from Summach v. Ellison, 2009 SKQB 59 (CanLII):

It is not certain when the corporate year‑end is. There is an unaudited statement dated July 27, 2008. There is a statement of profit and losses for the period August 1, 2007, to June 30, 2008. There is a financial statement dated April 30, 2007. Presumably, there has been a financial year‑end either during the period when the applicant was employed with the corporation or shortly thereafter. There has been no accounting for the profits of the corporation, including the distributions to the other shareholder. There are financial statements, but it is not clear which ones should be relied upon. The applicant claims that the financial records are in a mess, such as was the case in Lee v. To, but it is met with the argument by the respondent that, in fact, the applicant was at least partially responsible for the bookkeeping of the company while he was there.

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