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Certified Public Accountant (CPA) is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA. In order to become a U.S. CPA, the candidate must sit for and pass the Uniform Certified Public Accountant Examination (Uniform CPA Exam), which is set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically the requirement is a U.S. bachelor's degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional 1 year study.

CPAs typically begin their careers in public accounting because it provides the fastest and broadest exposure to a variety of businesses. Many CPAs move into corporate positions as they advance in their careers, or pursue opportunities with governmental and not-for-profit entities. To find out more about the CPA designation, please visit www.beckercpa.com

 

What is a CGA?

CGAs are part of a select group of financial professionals who occupy key positions wherever Canadians do business. A Certified General Accountant is a professional accountant who provides various accounting, business and advisory services in all sectors of the economy. CGAs are one of two professional accounting designations with full public practice rights across Canada.

Certified general accountants are trained in the full spectrum of accounting. Broadly and deeply competent, CGAs have the education and training required to fulfill advanced business and financial functions. CGAs are thoroughly equipped to address the ever-changing needs of business of every size and in every sector, as well as the needs of individual clients.

The CGA designation is achieved by successfully completing assignments and national examinations, passing a comprehensive final examination on all aspects of the program, fulfilling practical work experience requirements of the CGA program of professional studies, and meeting a university degree requirement. The CGA program of professional studies takes a conceptual approach to accounting education.

http://www.cga-ontario.org/

What is CMA?

Certified Management Accountant (CMA)

CMAs are more than just accountants, they are innovative business professionals!  With their solid foundation in accounting, management and strategy and their well-rounded, integrated development of both technical (functional) and professional (enabling) competencies, CMAs are developed to be broad-based business and accounting professionals who bring a holistic perspective to organizations.  CMAs create value in all areas within an organization and are the ultimate strategic financial management professionals - combining solid accounting & financial expertise with critical strategic management skills to provide leadership, innovation and an integrating perspective to organizational decision-making.  Thus, the CMA designation is a powerful tool that can help you gain a competitive advantage in the marketplace and become a more valuable contributor to any organization in any industry…including your own entrepreneurial ventures!

Overall, the CMA Professional Program and the related evaluation process is very dynamic & evolutionary in nature...following the natural career progression of most graduating students.  Many graduates will start their careers in a technical role and then progress to roles where you are helping to make recommendations and support decision-making with more integrative thinking…and then ultimately be promoted to leadership roles (e.g. Manager, Controller, Director, VP, CFO, CEO) where you need to collaborate with others (often from different departments) and integrate the strategic & operational aspects of an organization.  The CMA Professional Program supports your career progression by developing a powerful set of knowledge and competencies, thus, CMA candidates often progress to leadership roles faster and with more confidence. 

From an evaluation standpoint, we first have a fundamental test of your technical accounting and business skills in the CMA Entrance Exam (written in June or October).  Then, we test your integrative thinking and written communication skills in the CMA Case Exam (written in May or August).  Finally, we test your ability to collaborate with a team while working on a complex and integrated business case that tackles both strategic and operational issues.  You must prove that you can synthesize both your technical accounting & business knowledge with your professional competencies of problem-solving, decision-making, effective communication, strong ethics, teamwork, leadership, etc. in the CMA Board Report (project starts mid-winter and ends early summer with both a written report and an oral presentation).  Each year, all three evaluations are consistent across Canada.  

NOTE:  To be eligible to start the CMA Professional Program by writing the CMA Entrance Exam, successful candidates must first obtain a minimum post-secondary Bachelor’s Degree and a minimum mark of 60% in 16 CMA Required Topics.  Course requirements can be found at www.cmaontario.org/coursechart.  The 16 CMA Required Topics can be completed either at an approved post-secondary institution and / or through the CMA Accelerated Program (www.cmaontario.org/accelerated).  Students from all degree/major backgrounds can pursue CMA.

Another thing that truly sets Canadian CMAs apart is the 2-year, part-time Strategic Leadership Program (SLP). For each of the six modules of the SLP, we will engage you in an Interactive Session (IS) that will involve role playing, simulations, cases and group activities / discussions to allow for more holistic competency development and coverage of a wide range of business issues. Each IS takes place every couple months where you come together with 20 - 30 aspiring CMAs and learn in a truly dynamic environment.  In between each IS you will stay engaged with the program through a variety of valuable readings, assignments and Business Application Reports (BAR).  The BAR assignments are a powerful way for you to apply what you are learning to your own organization and ensure that you are making real world connections between the CMA program content and your actual work environment.  And, as with all other “professional” credentials, you need to complete a Practical Experience requirement – 24 months in total in roles that reflect the CMA Competency Map which you can find at www.becomeacma.com.  CMA Practical Experience is assessed based on the competencies, not based on title/position or type of organization.  Thus, CMA candidates can apply & develop their skills across a broad range of positions and organizations and up to 12 months of relevant past experience may be accepted.

http://www.cma-ontario.org/

 

Chartered Accountants must meet the highest standards of financial expertise, strategic thinking, business insight and leadership. The CA profession's commitment to excellence and the public interest provides the crucial foundation for this trust. In fact, Canadian CAs are recognized around the world for high professional standards and expertise. Becoming a CA requires: A university degree including 17 specified courses, 30 months of practical employment experience with an Institute-approved training office, Completion of the Institute's Professional Program, and Passing the national Uniform Evaluation - one of the most demanding professional examinations in the world.

51 Credit-Hour Requirement
The CA program is designed to enable potential CA students to obtain comprehensive coverage through university courses. This 51 credit-hour requirement consists of 17 three credit-hour courses approved by the ICAO.

Minimum 70% (B-) GPA Requirement:
Graduates who achieve a minimum GPA of 70% (B-) in Institute-accredited programs/streams are deemed to have met all of the requirements for entry into the Institute's Professional Program. For an Institute-accredited accounting stream within a program, the minimum 70% (B-) GPA requirement is calculated based on the set of courses that define the stream.

Core-Knowledge Exam (CKE)
The CKE is a four-hour, computer-scored, multiple-choice examination. It is a non-disclosed examination (no solutions are published and the question papers are to be collected at the writing centres). Students will not be permitted to bring any reference sources to the CKE. The CKE is comprised of approximately 100 multiple-choice questions (MCQs). The MCQs are arranged by competency area.

School of Accountancy (SOA)
The focal point of the ICAO Professional Program is the School of Accountancy (SOA), a three-week period of full-time study beginning in June. The School of Accountancy curriculum provides for the development and enhancement of required CA competencies through integration and application of technical knowledge. It is also fundamental to the development of pervasive CA qualities (ethical behavior and professionalism, personal attributes and professional skills) and specific CA competencies required for the UFE and the practice of public accounting. Students experience a significant amount of work in small groups, including presentations, throughout the three-week period - there are no lectures at the School of Accountancy.
The SOA Examination, written at the conclusion of the three-week, full-time segment of the School of Accountancy on Wednesday July 2, 2008, consists of multi-competency, case-type questions. It ensures that Ontario CA students have attained an acceptable level of professional skill and core competency to be eligible to write the UFE.

Uniform Final Evaluation (UFE)
The Uniform Final Evaluation (UFE) is the last step students take towards gaining the designation of a Chartered Accountant (CA) in Canada Nationally administered by the Canadian Institute of Chartered Accountants, and conducted regionally by the provincial/regional orders, the UFE is written over the course of three sequential days and is the culmination of years of study in accounting courses. To write also requires successful completion of your CKE and SOA.
In addition to successfully passing the UFE, CA candidates must complete a minimum of 30 months of practical experience with a public accounting firm with a specified number of hours in specific areas of accounting, auditing, and tax before officially becoming full fledged CAs.

http://www.icao.on.ca