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Accounting

Possible Career Options

Entrepreneurial and Small Business Ventures

  • Entrepreneur:

    An entrepreneur is someone who starts their own business. They organize, manage, and assume the risks of the business.
    Suggested Electives: COMM 349.3, COMM 447.3

  • Actuary:

    Actuaries use their analytical skills to assess the probability of events occurring in relation to insurance, such as casualties, health, and property. Actuaries are usually employed by insurance companies, but governments, pension planning organizations, and third-party advisors may also require them. Strong mathematical skills are a necessity for this position.
    Suggested Electives: MATH 116.3, MATH 225.3, MATH 226.3, MATH 264.3 or MATH 266.3, STAT 341.3, ECON 311.3, ECON 316.3, ECON 473.3, ECON 474.3

  • Bank Examiner:

    A bank examiner analyzes all activities that take place within a bank. The analysis is done to determine whether the bank is running in accordance with federal laws regarding operations, performance, and management capacity.

  • Commercial Banker:

    A commercial banker works in the corporate division of a bank. It is the job of the commercial banker to retain the existing business as well as generate new business for the bank.

  • Financial Analyst:

    Financial analysts are generally employed by investment banks. Their duties include the analysis of a company’s position for the purposes of valuation for IPOs, mergers and acquisitions, and other company needs. This job requires someone who is good with numbers, enjoys research, has a broad understanding of finance, and is willing to put in long, demanding hours.

    Suggested Electives: COMM 321.3, COMM 323.3, COMM 419.3, COMM 467.3

  • Financial Planner:

    A financial planner studies their clients’ financial position and future goals to determine the tools necessary to reach those goals. They deal with minimizing tax bills, education planning for children, retirement, and sometimes short-term investing. A position of this nature requires someone with strong interpersonal skills.

    Suggested Electives: COMM 329.3 or 429.3 , COMM 364.3

  • Loans Officer:

    A loans officer is in charge of evaluating and approving loans applications. They also counsel borrowers on their financial status and the various methods of payment.

  • Stockbroker:

    Stockbrokers are in the business of selling stocks, bonds, insurance, and other investments to individuals. This is a tough business to get started in, but the rewards to a person with good interpersonal skills and great sales skills are high.

    Suggested Electives: COMM 467.3, COMM 419.3, COMM 364.3

General Areas

  • Accountant:

    An accountant analyzes financial information and prepares financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, and other financial activities within an organization.

  • Appraiser:

    An appraiser values property for the purpose of pricing, investment, mortgage, or loans. An appraiser will also consider location and trends that may change the future value of the property.

    Suggested Electives: COMM 329.3 or 429.3

  • Claims Adjuster:

    A claims adjuster works with people on their insurance claims after they have experienced a loss. It is important that the adjuster settles claims so that they are fair to all involved. Some adjustors work in an office while others work out in the field.

    Suggested Electives: COMM 364.3

  • Financial Aid Officer:

    Financial aid officers direct scholarship, grant-in-aid, and loan programs to provide financial assistance to students in college or university. They may also select candidates and determines types and amounts of aid.

  • Fundraiser:

    A fundraiser plans fundraising programs for charities or other causes, and contacts individuals or establishments to solicit funds or gifts-in-kind.

  • Insurance Agent/Broker:

    Insurance jobs exist to help businesses and individuals manage their risk. There are numerous types of insurance, all of which help minimize the loss if a problem occurs. The insurance agent is the person who actually sells the insurance to those who wish to minimize their risks.

    Suggested Electives: COMM 329.3 or 429.3 , COMM 364.3

  • Professor:

    A professor is generally found in a university setting teaching students at the university or post-grad level. This position requires a PhD. in the professor’s teaching area.

Information Systems

  • Systems Analyst:

    Systems analysts solve computer problems and enable computer technology to meet the specific needs of an organization.

Medium and Large Business

  • Audit Manager:

    An auditor’s job is to check the financial statements of corporations and governments to make sure that they have been prepared correctly and accurately. This job requires a good understanding of financial statements and computers.

    Suggested Electives: COMM 321.3, COMM 323.3, COMM 421.3, CMPT 275.3

  • Benefits Analyst:

    Benefit analysts conduct programs for employers and may specialize in specific areas such as position classifications or pensions.

  • Budget Accountant:

    A budget accountant analyzes past and present financial operations and trends in order to produce a budget for the future.

  • Budgetary Control Analyst:

    Budget Analysts are responsible for developing and managing an organization’s financial plans. There are plenty of jobs in this area in government and private industry. Besides quantitative skills, many budget analyst jobs require good people skills because of the negotiations involved in the work.

  • International Trade Specialist:

    An international trade specialist counsels companies on all aspects of international trade. This includes counselling on shipping requirements, export regulations, export documentation, import requirements, foreign standards, trade agreements, and many other international issues.

    Suggested Electives: COMM 340.3, ECON 354.3, ECON 356.3

  • Management Accountant:

    Management accountants work for companies and help in capital budgeting decisions and business analysis. Major functions include cost analysis, analysis of new contracts, and expense control. Often, management accountants work with marketing and finance to develop new business for their company.

    Suggested Electives: COMM 308.3, COMM 438.3, COMM 337.3, COMM 321.3, COMM 323.3, COMM 433.3, COMM 406.3, COMM 407.3, COMM 421.3

  • Marketing/Sales Manager:

    Sales managers are in charge of a company’s sales program, from training new sales representatives to setting goals for the sales department. The sales manager also gathers information on company sales to analyze it for forecasting purposes.

    Suggested Electives: COMM 352.3, COMM 354.3

Tax

  • Tax Accountant:

    Tax accountants prepare corporate and personal income tax statements and formulate tax strategies involving issues such as financial choice, mergers and/or acquisitions, deferral of taxes, when to expense items, etc. This work requires a thorough understanding of economics and the tax code.

  • Tax Compliance Specialist:

    A tax compliance specialist investigates, collects, and enforces payments of tax liabilities. They also provide taxpayers with assistance and perform other related duties.

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Professional Designations

Changes are occuring as the new CPA designation becomes a reality. The information listed below is still accurate and will be updated once the CPA designation is official. You can go to www.cpaone.ca to learn more about the new program.

There are three main accounting designations offered in Canada: the Chartered Accountant (CA), the Certified Management Accountant (CMA), and the Certified General Accountant (CGA). The CA and the CGA involve financial accounting whereas the CMA covers management accounting.

Canadian Institute of Chartered Accountants (CA):
http://www.cica.ca

The internationally recognized CA designation can be obtained through either the CASB (Chartered Accountant School of Business - http://www.casb.com) or the MPAcc (Masters of Professional Accounting) program. Entrance into either of these programs is based on the completion of required university courses outlined above. A combination of passing the CA course exams and 36 months of relevant work experience will lead to a CA designation. Chartered Accountants can work in all sectors of the economy, but are generally divided into four segments: public practice, industry, government, or education.

Certified Management Accountant of Canada (CMA):
http://www.cma-canada.org

The CMA designation is offered through CMA Canada. Once the prerequisite university courses outlined above are completed, an entrance exam must be written. Upon passing this exam, entrance into the CMA courses is given. A combination of these courses and a minimum of 24 months of relevant work experience will result in a CMA designation.

Certified General Accountant of Canada (CGA):
http://www.cga-canada.org

The CGA is offered through CGA Saskatchewan. Courses are all offered by correspondence so that it is easier for anyone to complete. The courses listed above are the best match to the program, but if another degree is completed, you can still enter the CGA program at a lower level as fewer classes will transfer. Once the foundation classes are completed, you must choose one of the four options for the remainder of courses. These options include Corporate and Small-Medium Enterprise, Information Technology, Government and Not-For-Profit, and Public Practice. The courses are followed with comprehensive exams. Upon completion of these exams and the required 3 years of professional experience, the CGA designation is awarded.

Certified Forensic Investigator (CFI):
http://www.acfi.ca

In accord with the ACFI website, an examination, designed to be written within one hour, is currently required to be successfully completed by all candidates for the CFI designation. A Canadian ACFI Fraud Manual, which is updated annually, is available to aid candidates prepare for the examination. ACFI members are generally engaged within the areas of Internal and external auditing, current and former law enforcement officers, solicitors and barristers, forensic and investigative accountants, public accountants, private investigators, regulators, loss prevention and security professionals.

Certified Fraud Examiner (CFE):
http://www.acfe.com/membership-certification.aspx

The CFE is a U.S. based program that is offered worldwide through the Association of Certified Fraud Examiners. To receive the CFE designation, you must read the CFE manual (the Canadian version), and then write the corresponding exam. Certified Fraud Examiners generally work in audit, law enforcement, anti-fraud consulting, management, or education.

Certified Internal Auditor® (CIA®):
http://www.theiia.org/certification/

The Certified Internal Auditor® (CIA®) is the only globally accepted designation for internal auditors and remains the standard by which individuals demonstrate their competence and professionalism in the internal auditing field. The designation is administered by the Institute of Internal Auditors (IIA). Student memberships in the IIA are reasonably priced and provide a host of benefits such as access to research reports and the career center.

Chartered Business Valuators (CBV):
http://www.cicbv.ca

The CBV is offered through the Canadian Institute of Chartered Business Valuators. This course is valuable for those interested in business valuation, corporate finance, or litigation. A strong background in accounting or finance is strongly encouraged. Once the courses and the required work experience are completed, the CBV designation will be awarded.

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