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CA, CMA and CGA Professional Accounting Designations in Canada
There are three types of recognized professional accountants in Canada. These are accountants with a designation who belong to a self-regulating professional body. The three designations are:
* Chartered accountant (CA)
* Certified general accountant (CGA)
* Certified management accountant (CMA)
Each is regulated by a different professional accounting body and requires a different combination of education and experience. No designation is better than another but each enables its members to perform different types of work and has its own rules of conduct.
Chartered Accountants (CAs) in Canada
The CA designation in Canada is regulated by the Canadian Institute of Chartered Accountants (CICA).Chartered Accountants require a combination or education, experience and evaluation. Education is a university degree with specific business course credits and the professional program for the province or territory. Work experience requires three years employment with a recognised CA Training Office and evaluation is through the three day Uniform Evaluation (UFE) which all candidates must pass to enter the profession.
Chartered Accountants in Canada work in four main areas of public practice, government industry and education. Around 40% of CAs work in public practice where they provide advice in areas like audits, business valuation, small business tax, personal financial planning and receivership. CAs are required in all levels of government and those in industry may be Treasurers or head of Finance or Controllers. Those in education teach future business leaders.
Certified General Accountants in Canada (CGAs)
The CGA designation is regulated by the Certified General Accountants Association of Canada, founded in 1908. Students in the CGA program need to obtain a bachelor’s degree first and certification as a CGA requires a mix of education, examinations and practical experience. A newly certified CGA requires 130 competencies over the areas of professionalism, leadership and professional knowledge.
Certified General Accountants in Canada work in industry, commerce, finance, government, public practice, the not-for-profit sector, and any other area that requires accounting and financial management skills. Their expertise ranges across finance, taxation, business strategy, auditing, management and business leadership and their clients range from major companies and government to entrepreneurs.
Certified Management Accountants in Canada (CMAs)
The CMA designation is regulated by CMA Canada which has a partnership structure consisting of the CMA provincial, regional and national jurisdictions working together. The CMA accreditation process requires a sound academic business education, which is tested through a rigorous national Entrance Examination. The next step is the Strategic Leadership Program (SLP) which is a leading-edge professional development program, and relevant practical experience.
Certified Management Accountants in Canada often work as financial and strategic management professionals and can be found in a wide range of business functions, including sales and marketing, information technology, human resources, finance, and operations. They have a holistic view of business with a strong market focus.
Read more at Suite101: CA, CMA and CGA Professional Accounting Designations in Canada http://accounting-designations.suite101.com/article.cfm/ca-cma-and-cga-professional-accounting-designations-in-canada#ixzz0uq9D2vsR
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