In the field of accounting, two prominent designations are Chartered Accountant (CA) and Certified Management Accountant (CMA). Both roles require rigorous training and examinations.
a number of different industries, including finance, government, commerce or government
two years of professional experience in accounting
Pass the CGA exam
Complete CGA courses
bachelor's degree in accounting, business, finance, or a related field
preparing financial records at the end of fiscal periods
ensuring a company's financial operations follow regulations
file tax returns
reporting and analyzing finances
offering advice on taxes
auditing
provide auditing and accounting services to various companies and review their employers' financial reporting systems to ensure that they adhere to government laws and regulations, corporate rules, and industry standards.
Certified Management Accountant (CMA)
top salary:$105,788
average salary: $64,000
starting salary: $57,481
in for public companies, private businesses, and government agencies in business and leadership positions
have to pass a two-part exam called the Common Final Examination (CFE) . One part is on financial planning, performance and control. The second test covers financial decision making.
work for two years in a professional capacity
Successful completion of the CPA Professional Training Program,
four-year bachelor’s degree, typically in accounting, business or finance.
Presenting financial assessments to senior management
Analyzing internal and external risks
Identifying opportunities for investment
Planning and maintaining organizational budgets
Coordinating financial operations
Mentoring and supervising accounting staff
Preparing financial statements
Preparing reports for the controller's department
specializes in financial management and reporting for organizations
Chartered Accountant (CA)
What do they make? (annual salary)
top salary: $88,313
average salary: $62,500
starting salary: $55,000
Where do they work?
public sector banks
accounting firms
Requirements:
two years or 30 months of on-the-job training and Membership in a provincial Institute of Chartered Accountants upon successful completion of the Uniform Evaluation (UFE)
length depends on what province you reside in
Completion of a professional training program approved by a provincial institute of chartered accountants
university degree
What do they do?
prepare income tax returns
finds solutions to accounting issues
audits accounts
plans taxes
uses their accounting expertise to guide their client’s financial plans and ensure all tax activities are compliant with provincial and federal regulations