Different Types of Accountants in Canada
Over the years, accounting has gained in popularity among career-oriented individuals. It is a discipline which offers plenty of options to pick and choose. While some accountants start practices on their own, others choose to climb the corporate ladder or work for larger firms.
In Canada, accountants have three popular choices to advance their career ambitions: certified management accountants, chartered accountants and certified general accountants.
Despite their familiarity with business and financial principles, they are distinct from one another. Detailed information about the professionals from these disciplines is given below.
Certified Management Accountants
CMAs or certified management accountants focus their attention primarily on the bigger issues related to management and formulation of strategy. The graduates who are desirous of building a career in the profession are required to go through a challenging examination process which lasts for two days. The examination puts their knowledge of the concepts related to accounting and business management to test. Qualified candidates are taken into a training program for two years. The program involves mentoring, case studies and professional experience.
Chartered accountants work in various professional settings, including industry and government settings, and offer services like auditing and tax preparation, management and strategic functions and so on. Sometimes, they are also required to legally determine and certify the precision of financial statements. CAs are required to have professional experience for at least three years in order to get certified.
Certified General Accountants
Certified general accountants are trained to cater to the needs of day-to-day accounting services or hands-on services in corporate or public settings. They take care of the daily operations, calculate taxes and plan financial services for various companies. In order to get a certification, a candidate should have a degree in accounting or finance and complete the PACE training modules offered by the certification body in Canada called the CGA.
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