Seniors, Experts & Strugglers, Opinion needed for Accouting Feild.

[Haiderzaidi]

Respected Seniors, experts & strugglers,

I need to acquire information regarding Accounting field. I am an accountant in Australia & will be landing soon God willingly. I noticed few terminology & tax system that differs between Australian & Canadian. What wil you advise me to do? Should i jump in a course as soon as I arrive Canada & which uni/inst. will do the best? Or what could be other pathways I can have?

Any personal experience would be appreciable. Since It will be a new world to me I dont mind going into some jobs that are not related ot my profession, given such situation what would you guys recommend me to keep refreshing my Accounting profession & not to loose what i have learned so far. Are there many jobs? What resources I could plunder to strike inot the Accounting field.

Thank you.

 

[next2015]

Hi- For starters you need to identify which province you will be settling in. Accounting is a regulated profession in Canada (as it is across the globe); each province has its own regulatory body and requirements. However, recently a new organization to regulate the profession across the entire country has been formed and a new designation - CPA.

Once you decide on which province to settle in, you can visit the website of the regulating body in your preferred province for details on how to integrate into the profession in Canada/the province. Otherwise in summary; if you are not registered with any regulatory body in your current country of residence e.g. ACCA and the like, you have to get your degree evaluated, based on that evaluation you will be advised on what courses you need to study to make it a recognized equivalent in Canada, after achieving the equivalent degree you will do the professional education program, then the CPA exam. In addition you will need a certain number minimum of supervised practical hours of work then you will get your license and the designation. Otherwise, if you are already a member of any regulatory body the process is shorter. Also, If you choose to settle in Quebec, you will have to do and pass a french exam in addition to the earlier stages.

Look at the site below for Alberta accountants, go to the "Become a CPA" page for info.
http://www.albertaaccountants.org/ , http://www.albertacas.ca/Becomeadesignatedaccountant/foreigndesignated.aspx
You can google "Ontario/Alberta/Quebec/(your preferred province) accounting regulatory body" and look at any provincial website.

So before "jumping" into a course look at the requirements, they will guide you. In fact, you will realize depending on your situation, you could begin the process before you even land.

 

[jazibkg]

Where are you landing? Google the term "CPA [insert province]" then visit "become a CPA" or "internationally trained accountants". You'll have to pay a $100 fee (which is redeemable credit towards a course, if need be); they'll then direct you what to do next.

In my case, I just received an email that CPA BC needs a basic credential evaluation report from ICES now.

There are plenty of lower level accounting and bookkeeping jobs available in Canada. Getting to them is a harder part.

 

[Haiderzaidi]

Thanks guys for very brief replies.

Indeed I am very keen to become a CPA but I had to acquire at;east one year of local experience before I can commence it & to commence a local experience of Canada I need to get an accounting job. However Canada seems to be having a little different approach to few factors & to learn that I was looking forward to do a short course so i could understand it.

I have got my degree recognized by WES & since its recognized by the CPA australia i dont think it should be an issue in Canada. Course I am looking to understand Canadian accounting is http://www.senecacollege.ca/fulltime/ACT.html

 

[lawrence2007]

I am not sure what you mean by you having to acquire one year work experience in Canada before commencing CPA. I am not aware of any such requirement by CPA. Similarly, I do not understand the connection between your accounting degree being recognised by CPA Australia not having any issues in Canada.

Anyways, if you are an accountant and have done bachelors in accounting in Australia then getting used to the differences in terminologies in Canada should not take a lot of time. You could take selective courses in Taxation and Business Law to increase your familiarity with Canadian regulations. Such courses are even offered online by Canadian universities and community colleges. Also, I don’t think it makes any sense at all for an experienced accounting professional to do basic accounting courses like ACT offered by community colleges like Seneca. It would be more worthwhile to build on your prior education/experience and study for an advanced degree like Masters in Accounting if you have the time. And better than that would be to go into a professional qualification like CPA/CMA/CGA etc.

As someone said earlier, there are plenty of accounting jobs in Canada but getting one is the hard part.

 

[jazibkg]

Agreed with the above poster.

There is no such experience requirement that I am aware of. Unless you want to do a specific course which allows you work experience placement through co-op, you're better served with higher level courses (like the Master of Professional Accounting from UTM Rotman School of Management (http://mmpa.utoronto.ca/). Better still, you can study directly with CPA body of the province (http://www.cpaontario.ca/Admissions/1010page1352.aspx).

The experience requirement is for becoming a complete member of the body. Just like CA Pakistan has the Articleship requirement and ACCA has the 3-year PER requirement.

If you already have an accounting degree, you can go through the CPA process directly, like I mentioned. First you'll apply to your provincial CPA, then they'll refer you to a credential evaluation agency (ICES in BC or WES in ON), then they'll decide what exemptions to give you on PEP, its straightforward and similar to how accounting bodies work around the world.

Have you decided which province you're landing in?

 

[Haiderzaidi]

Thank you Laurence2007 & Jazibkg.

Jazibkg, Yeah most likely its gona be Toronto.

 

[sudhi.4uk]

Dear Friends

Iam based in Dubai and have migrated to Canada. I just landed once to get the PR card and then came back to Dubai due to job commitment. Iam planning land back after a year. In the meantime I was trying to do self-study to get prepared for CGA (Certified General Accountant) qualification so that I can take the test when I land.

However I was advised by an american training institute in Dubai that I wont be eligible for CGA since my bachelors degree is in Computer science (no way related to accounting) and masters degree is in Finance(Corporate Finance and I did not have any accounting papers)

Is it true that those who do not have an accounting background cannot sit for CGA? Is there anyone who has overcome this situation?

Kindly advise.

 

[Haiderzaidi]

Sudhi,

He is correct CGA is all about Accounting. Its not like MBA/MPA its a professional accounting certification. To commence CGA you should have studied Accounting, Auditing, Financial management & etc. I understand you have studied corporate finance buts different to accounting. you can try finding CFA (Certified Financial Analyst)

However you can upgrade your degree in Computer Science as well. Look up for their advance studies.

 

[jazibkg]

Dear Friends

Iam based in Dubai and have migrated to Canada. I just landed once to get the PR card and then came back to Dubai due to job commitment. Iam planning land back after a year. In the meantime I was trying to do self-study to get prepared for CGA (Certified General Accountant) qualification so that I can take the test when I land.

However I was advised by an american training institute in Dubai that I wont be eligible for CGA since my bachelors degree is in Computer science (no way related to accounting) and masters degree is in Finance(Corporate Finance and I did not have any accounting papers)

Is it true that those who do not have an accounting background cannot sit for CGA? Is there anyone who has overcome this situation?

Kindly advise.

You do not need an accounting background to sit for CPA (previously CGA, CMA and CICA). All you need is a bachelors degree. It is untrue that they cannot. All that means is that you won't get many exemptions but you can start with CPA from the PREP stage. https://www.bccpa.ca/become-a-cpa/get-started/ *NOTICE HOW THE DEGREE REQUIREMENT CLEARLY STATES 'ANY DISCIPLINE'*. You WILL need to get a basic report of your credentials evaluated by ICES or WES, depending on your province.

You would be surprised that in western countries, many auditors in the Big 4 have no accounting degree background.

You may also want to look into CFA, as your MS was in Corporate Finance. You should also look at Business Analyst/Prince2/SAP and project management courses. A computer science degree combined with finance can be really good for those IT-Finance-Risk-Data-Analyst crossover roles.

 

[Haiderzaidi]

You do not need an accounting background to sit for CPA (previously CGA, CMA and CICA). All you need is a bachelors degree. It is untrue that they cannot. All that means is that you won't get many exemptions but you can start with CPA from the PREP stage. https://www.bccpa.ca/become-a-cpa/get-started/ *NOTICE HOW THE DEGREE REQUIREMENT CLEARLY STATES 'ANY DISCIPLINE'*. You WILL need to get a basic report of your credentials evaluated by ICES or WES, depending on your province.

You would be surprised that in western countries, many auditors in the Big 4 have no accounting degree background.

You may also want to look into CFA, as your MS was in Corporate Finance. You should also look at Business Analyst/Prince2/SAP and project management courses. A computer science degree combined with finance can be really good for those IT-Finance-Risk-Data-Analyst crossover roles.

Hey Jazibkg,

Thats was such an awesome reply I must admit.. Since you mentioned that auditors in Big 4 having no accounting degree.. would you please elaborate more how they got in, by means of doing any course? Do you have any information where I can do courses of SAP/Prince2? Are these being dominant software in accounting firms ? whats with the quickbooks & myob?

 

[jazibkg]

The softwares I mentioned aren't dominant in accounting firms, but usually used by banks and other companies for data analysis.

They got in by doing their CPA/CA, which usually can be done after any degree.

Accpac and Caseware is popular with firms in Canada. Quickbooks too, ofcourse. I don't know about myob.

When are you coming to Canada?

 

[Haiderzaidi]

Hey Jazibkg,
I dont those softwares are used anywhere in Canada. Even the quickbooks i learned since i see many small business in canada using quickbooks. However I might get my hands on to those softwares once I land.

Meanwhile I am having my fingers crossed for an MR. If to stab in dark say May/June. Do you mind if i ask you what sort of profession are you related to & how do you know all this?

 

[tahirmrao]

Hey Jazibkg,
I dont those softwares are used anywhere in Canada. Even the quickbooks i learned since i see many small business in canada using quickbooks. However I might get my hands on to those softwares once I land.

Meanwhile I am having my fingers crossed for an MR. If to stab in dark say May/June. Do you mind if i ask you what sort of profession are you related to & how do you know all this?

Can you please share reason of moving to Canada despite the fact you are living in equally good country for immigrants that is Australia?

Further, what are the job prospects for accounting and finance professionals in Canada?
Thanks

 

[Haiderzaidi]

Can you please share reason of moving to Canada despite the fact you are living in equally good country for immigrants that is Australia?

Further, what are the job prospects for accounting and finance professionals in Canada?
Thanks

Lol sure. Well there isn't any auspicious reason then I have more family members in Canada then Australia. I came here for studies & since I am the youngest did not wanted to get over pampered by the elders so I chose Australia. Now since I have ended my studies I am looking forward to reside between my family n friends. To the prior I was born n brought in Kuwait where the life is more of USA/Canada influenced hence it's another weight over the Canada end. Personally I didn't even liked Australia. This doesn't mean something is bad here. People are & had migrated & loved this land to death it's just to me did not appealed alot.