Anyone in CPA/CMA/CGA program here?

Wow, I haven’t been following this post and it is surprising to see so many valuable comments on it! Special thanks to you all!
It is interesting to re-read my original post 8 months later. I think I have made some mental progress during this period of time.
I think I have figured out what I want to do in life – career-wise. How did I figure out? Here are the steps.
  1. The most interesting class I had in University is Applied Corporate Finance. Which part of it I enjoyed the most? Well I enjoyed calculating cash flows and using excel to calculate NPV of a project, then to analyze if the merger/acquisition should take place, if the project would add value to the company etc. Why do I love it? I dunno. I just enjoyed it more than other classes such as real estate finance, derivatives, capital markets, global investments, operations management, marketing, statistics, etc.
  2. Good. Now, if I want to do what I described above in real life, what is this type of job called, or under which general category this type of job falls? Probably financial analysis, planning and forecasting. The job itself should be called something like: financial analyst.
  3. What do I need to get such a job? Well, I read some job descriptions. It seems such jobs are related to accounting and require accounting designations rather than finance background.
  4. So what am I going to do? I am going to pursue an accounting designation in Canada: CPA.
  5. I still don’t think I will like debit and credit. I don’t think anyone would actually like it. But I remember Greenman said sth like we all need to start with debit and credit and once we start doing financial planning, forecasting and analysis, life will become much more enjoyable.
  6. Therefore, I will start by taking all CPA pre-requirement classes either through CPA prep modules in Ontario or through an accounting diploma program at a University in Montreal.
  7. My bf’s company is sending him to Toronto’s office soon so I might end up working + studying in Toronto. The interesting thing is I have never left my parents in my life. It might not be a bad idea to try a new life style: renting an apartment like a lot of my peers are doing. Anyways, either case, I should start my part-time studies from the beginning of next year. Right now, I am job hunting hunting hunting. ^_^ (stole NaNa’s signature. OOOoooppps)
  8. I might still come back for CFA later as I think CPA+CFA is a powerful combo.
 
giuls21 wrote:
I brought up prestige to make the point that in the US, the CPA is generally viewed as the gold standard for accountants (excludes the Phd pop). In other countries, the CPA may not be viewed in the same light compared to the US. In fact the CPA could be the easiest accounting license to obtain in the entire world for all I know (though I doubt it.)
If I am a US recruiter (I have regular conversations with the recruiters at my firm, so I have insights into how they view hiring), I would rather screen for CPAs only as opposed to taking the chance on some other acronym that I don’t understand and am too lazy to research.
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Yes, i know 99% of working accountants are CPAs in the US, but since zxfmontreal resides in Canada, i don’t want to say CPA is the “obvious” choice for her, since i have no idea what options are there and if CPA in Canada is as common and well known as other accounting designations, is what i’m saying.
 
zxfmontreal wrote:
Wow, I haven’t been following this post and it is surprising to see so many valuable comments on it! Special thanks to you all!
It is interesting to re-read my original post 8 months later. I think I have made some mental progress during this period of time.
I think I have figured out what I want to do in life – career-wise. How did I figure out? Here are the steps.
  1. The most interesting class I had in University is Applied Corporate Finance. Which part of it I enjoyed the most? Well I enjoyed calculating cash flows and using excel to calculate NPV of a project, then to analyze if the merger/acquisition should take place, if the project would add value to the company etc. Why do I love it? I dunno. I just enjoyed it more than other classes such as real estate finance, derivatives, capital markets, global investments, operations management, marketing, statistics, etc.
  2. Good. Now, if I want to do what I described above in real life, what is this type of job called, or under which general category this type of job falls? Probably financial analysis, planning and forecasting. The job itself should be called something like: financial analyst.
  3. What do I need to get such a job? Well, I read some job descriptions. It seems such jobs are related to accounting and require accounting designations rather than finance background.
  4. So what am I going to do? I am going to pursue an accounting designation in Canada: CPA.
  5. I still don’t think I will like debit and credit. I don’t think anyone would actually like it. But I remember Greenman said sth like we all need to start with debit and credit and once we start doing financial planning, forecasting and analysis, life will become much more enjoyable.
  6. Therefore, I will start by taking all CPA pre-requirement classes either through CPA prep modules in Ontario or through an accounting diploma program at a University in Montreal.
  7. My bf’s company is sending him to Toronto’s office soon so I might end up working + studying in Toronto. The interesting thing is I have never left my parents in my life. It might not be a bad idea to try a new life style: renting an apartment like a lot of my peers are doing. Anyways, either case, I should start my part-time studies from the beginning of next year. Right now, I am job hunting hunting hunting. ^_^ (stole NaNa’s signature. OOOoooppps)
  8. I might still come back for CFA later as I think CPA+CFA is a powerful combo.
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I am happy that you have a plan now to focus on!
BEST OF LUCK!!
^_^
NANA
 
NANA Hachiko wrote:Yes, i know 99% of working accountants are CPAs in the US, but since zxfmontreal resides in Canada, i don’t want to say CPA is the “obvious” choice for her, since i have no idea what options are there and if CPA in Canada is as common and well known as other accounting designations, is what i’m saying.
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I can confirm the new CPA designation will the be all and end all for accounting in Canada. Many, if not most, of the provinces (we have a convoluted system in Canada were we really have no government control over anything important, it’s all province by province, like our securities regulation…) already have agreements in place to merge all existing designations (CA, CMA, CGA) into the CPA.
My advice on this would be to do the CPA route rather than the other programs because you’ll have to deal with merging your education into the new program anyway. There is really no reason right now in Canada to pursue anything but the CPA. I don’t even think the individual bodies even exist anymore in Quebec where the OP resides.
 
Okay, I guess when I hear “CPA”, I think of the Certified Public Accounting license promulgated by the AICPA and granted by the individual state boards in the US.
I can give no advice on any other kind of CPA.
 
geo wrote:… already have agreements in place to merge all existing designations (CA, CMA, CGA) into the CPA.
My advice on this would be to do the CPA route rather than the other programs because you’ll have to deal with merging your education into the new program anyway. There is really no reason right now in Canada to pursue anything but the CPA. I don’t even think the individual bodies even exist anymore in Quebec where the OP resides.
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I just googled and got to cpacanada.ca. I find it not surprising that CA’s were least supportive while CMA/CGAs were very supportive. CA is (was) the Canadian equivilent of the US CPA. The relationship as I’ve seen it described (and from when I researched them, how I see it) CA is to CFA where as CGA/CMA is to Claritas.
 
zxfmontreal wrote:Good. Now, if I want to do what I described above in real life, what is this type of job called, or under which general category this type of job falls? Probably financial analysis, planning and forecasting. The job itself should be called something like: financial analyst.
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Planning/forecasting is a fantastic career IMO. I’ve worked directly in it and I work very closely with planning now. My undergrad is accounting though I’m now a Charterholder (no accounting designation).
To be honest, I probably would have done “better” with an accounting designation, if I had one or the other. It’s just more common on the corporate side of things and people are more familiar with it. That said, the Charter is well respected in many companies in Canada.
The Charter has provided me a ton of value. I’m a go to source of knowledge (rightly or wrongly) in a lot of niche areas in the mid-sized company I’m with. “Oh, we have a finance question, go get geo, as we don’t have any real pure finance people.” Which is great. Not having an accounting designation hasn’t hurt me in my role, but if I was a CA / CPA I’d probably have more flexibility in going elsewhere.
I find in Canada, CAs hire CAs, CMAs hire CMAs, etc. etc. With the new CPA designation, you’re set from that perspective.
If enjoy what you described above, I think you’re making the right choice. Pursue the CFA Charter out of interest later if you want to, it will add to your resume in that line of work. But it’s not necessary and you’ll have more opportunity immediately with CPA.
Good luck.
 
geo wrote:
[
If enjoy what you described above, I think you’re making the right choice. Pursue the CFA Charter out of interest later if you want to, it will add to your resume in that line of work. But it’s not necessary and you’ll have more opportunity immediately with CPA.
Good luck.
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you realize you just gave Greenman a woody by this statement.
 
krazykanuck wrote:I just googled and got to cpacanada.ca. I find it not surprising that CA’s were least supportive while CMA/CGAs were very supportive. CA is (was) the Canadian equivilent of the US CPA. The relationship as I’ve seen it described (and from when I researched them, how I see it) CA is to CFA where as CGA/CMA is to Claritas.
Click to expand...
The gap isn’t as big as CFA to Claritas. Educationally, all three are relatively similar (actually, the CMA strategic management program I think adds the most value in industry roles… but that’s just my opinion). The difference comes in experience. CA’s had to article for a few years in public auditing, which is the worse job on the planet, and they got paid less than a burger flipper at McDonald’s for it. All while CMA’s worked in industry making decent coin for their experience piece. Now the CA’s are mad about it, understandably.
That said, they had to adopt. CMA + CGA would have been such a huge body that it would have potentially crushed the CA advantage (which is to have mostly CA’s in hiring roles, giving the designation a perceived premium). They may have been relucant adopters, but they saw the writing on the wall.
 
geo wrote:
krazykanuck wrote:I just googled and got to cpacanada.ca. I find it not surprising that CA’s were least supportive while CMA/CGAs were very supportive. CA is (was) the Canadian equivilent of the US CPA. The relationship as I’ve seen it described (and from when I researched them, how I see it) CA is to CFA where as CGA/CMA is to Claritas.
Click to expand...
The gap isn’t as big as CFA to Claritas. Educationally, all three are relatively similar (actually, the CMA strategic management program I think adds the most value in industry roles… but that’s just my opinion). The difference comes in experience. CA’s had to article for a few years in public auditing, which is the worse job on the planet, and they got paid less than a burger flipper at McDonald’s for it. All while CMA’s worked in industry making decent coin for their experience piece. Now the CA’s are mad about it, understandably.
That said, they had to adopt. CMA + CGA would have been such a huge body that it would have potentially crushed the CA advantage (which is to have mostly CA’s in hiring roles, giving the designation a perceived premium). They may have been relucant adopters, but they saw the writing on the wall.
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That is a very good point!
When most people are CPAs, then the minority, as “prestige” as they think they are, will become the “other designation”, much like how others perceive anything other than CPA in America.
 
chuckist wrote:
Hope it helps
If you have any questions, PM.
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Hi, chuckist, I have a question.
And..sorry to ask this stupid question: how to PM on analyst forum? Is there a way?
Thx…
 
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