What is the study path for becoming a Chartered Accountant?
Unlike many careers, there is no one path to go down when becoming a Certified Public Accountant.
With so many different areas you can specialize in, you may want to learn more about the various certifications, exams, and diplomas on offer before you think about going to college. And indeed, before you consider applying for an apprenticeship or training program to pursue a career as a professional accountant.
With all the competition that exists today, It's essential to be ahead of the game, and more importantly, be better informed and prepared than your peers when seeking a career in accounting, finance, and the business world. For instance, do you know what the AAT is, what ACCA qualifications provide, and what the CIMA exam takes? Furthermore, do you know which area of accounting you want to be in and what training and experience will be expected of you before you can enter into it?
Accountants of all levels generally need a minimum level of education, so let's discover what you need to study to become qualified in accounting and what your options are after that. Discover more about what is accounting is and how vital is accounting in business! Check them out here! If you are feeling more curious and want to go a bit further, get to know everything about the Golden Rules of Accounting.
Subjects you must know to pursue an Accounting Career!
Although it is possible to find employment in entry-level accounting positions (such as working as a junior bookkeeper or clerk) without having a diploma, maybe it won't be so easy to move up the ladder in your career. To have greater chances of success in accounting in Canada, you need to hold a minimum of a four-year Bachelor's Degree in Accounting or a similar field.
Although there are some special education, certifications, and experience requirements to begin your accounting journey, remember that you will discover each of them as soon as you are on your way. At the moment, you just need good arithmetic skills, analytical reasoning, and enthusiasm, of course! In accounting, it's all about numbers!
In fact, some university programs to pursue a career in accounting may require a high grade in Mathematics, Business, or Economics before you can be accepted into their course. Still, it all depends on the requirements of each university program. So if you're just beginning to discover the world of accounting, you have to focus for the moment on checking out the available options and practicing those math skills.
Now let's talk about an important point: Certifications in accounting.
Some certifications cover accounting basics and do not require any prior school experience. But it is crucial to keep in mind that if you first qualify with a Bachelor's Degree in Accounting, your professional career can take off incredibly. It will do so even more if you seek to obtain certification such as the Chartered Professional Accountant (CPA), the Certified Management Accountant (CMA), or the Certified General Accountants (CGA). Some certificates may involve a lot more effort, time, and money, but they are worth it if you are looking to get the best job opportunities. In Canada, these certifications are highly recognized in the accounting world. This means that if you obtain a professional degree and become certified, you can increase your job opportunities and professional life.
Now, we know that not everyone has the same goals. Remember that if you do not want to obtain a university degree or a certification in accounting, you can always find technical certifications that can also contribute to your professional success. For example, if you are looking to work as an Accounting Technician or Bookkeeper, you can obtain the Certified Accounting Technician (CAT) and upgrade your career.
A degree gives you beneficial knowledge about accounting theory, yes. Still, the qualifications offered by the many accounting institutes offer you the practical experience and practical skills needed for a successful career within this sector.
For this reason, it is essential to have your professional goals clear to prepare yourself better and enter the sector that suits you the most, but that is also the one more interesting for you.
We will look at the different institutes that can help mold your career in accounting below, but first, let's see what degrees or diplomas you might like to think about before specializing and how long you will be tied to them. Success never comes without effort!
- Associate's Degree: An Associate Degree in Accounting offers a broad overview of accounting principles and serves as the first step toward a career in the field. After completing an Associate Degree, most students generally pursue a Bachelor's in Accounting, commonly accepted as the minimum requirement for the accounting field. Or they can also pursue a bookkeeper career, be part of a payroll clerk, or work as an accounting assistant. This Associated Degree typically lasts two years of study.
- Bachelor's Degree: You can decide on one of the following Bachelor's diplomas in accounting, either choosing a Bachelor of Science, a Bachelor of Business Administration, or even a Bachelor of Arts. The duration of a Bachelor's Degree generally lasts up to four years, and it opens many advanced education opportunities. Also, a graduate in accounting usually pursues the Certified Public Accountants (CPA) certification, one of the most recognized in Canada. To get the CPA, accountants must earn at least a Bachelor's Degree and certify themselves later by approving the CPA exam.
- Master's in Accounting: A Master's Degree in Accounting is definitely a good idea since it can boost your professional career to a more technical level in finance, banking, taxation, or insurance. Are you ready to deepen your knowledge of accounting principles and learn the latest trends? A Master in Accounting generally lasts up to two years.
In Canada, some of the universities where you can find well recognized Bachelor's Degree in Accounting, or a Master's Degree in Accounting, Commerce, Finance, Business Administration, or International Business are:
- University of Toronto
- University of British Columbia
- University of Alberta
- McMaster University
- University of Waterloo
- University of Calgary
- University of Ottawa
Aspiring accountants come from all professional walks, which makes this profession so diverse, fascinating, and rewarding. While some may have just finished school, others may be achieving a college degree or seeking to specialize in one of the hundreds of branches related to accounting.
There are always thousands of ways and ways to achieve our professional success. So don't just consider one of the options! Therefore, when you sit in the waiting room for an interview, never compare yourself with the other candidates since they all have skills, knowledge, and experiences. Your profile will always carry different characteristics. Determine your goals, prepare yourself in the best way and enjoy the road to success! For example, if you want to start upgrading your knowledge, find the best accounting courses online!
Which are the qualifications for Accountants in Canada?
Let's dive a little deeper into the accounting industry and discover what certifications you should obtain after completing a Bachelor's Degree in Accounting or which path we recommend you take if you do not want to study for a Bachelor's Degree.
Would you like to gain Accreditation At A Renowned Accounting organism? Below you will find examples of the accounting institutes or organizations that can offer you accreditation in your chosen area of study and work.
- The Association of Accounting Technicians (AAT):
The AAT is made up of various optional certificates, with basic or foundation ones all the way to a level 4 qualification, the equivalent of studying at university for a year. The AAT is usually considered the minimum you'll need for a career in accounting or at least one that will offer you more career opportunities.
It is a membership organization that offers qualifications in accounting and finance. It has over 130,000 members in about 90 countries. And, AAT accountants are prepared to pursue senior positions in recognized organizations or even launch themselves on the path of entrepreneurship. To get this certification, accountants must follow the ethical and professional code, follow the AAT rules and regulations, and acquire more professional skills.
What do you need to get the AAT? To get the AAT, you will need to pass several courses. AAT offers various courses, including AAT Accounting Qualifications: Bookkeeping, Business Skills, and Finance. These courses are pretty accessible, and it is easy to complete them because they are short. They can also be taken online, in person, or under a hybrid model.
The AAT usually takes 18 months to complete, but it can be completed in nine months, for example, depending on your profile. By pursuing the AAT Diploma in Accounting, you will gain knowledge in examining financial statements, a clear understanding of management accounting procedures, accounting analysis, among many others. With this AAT diploma, you will be able to pursue a career as Assistant Auditor, Cost Accountant, Commercial Analyst, Professional Accounting Technician, and Senior Bookkeeper.
Take accounting course here on Superprof.
- The Chartered Institute of Management Accountants (CIMA):
Would you like to become a Management Accountant? The CIMA is a professional qualification and the world's leading and largest professional body of management accountants. It is committed to improving the mobility of internationally trained professional accountants.
The qualification provides knowledge in management accounting, financial accounting, and business-focused subjects, producing competent and professional Chartered Global Management Accountant (CGMA).
The CIMA Professional Qualification is an excellent qualification to pursue since it is recognized worldwide as the most relevant global finance qualification for a business career. Together with the American Institute of Certified Public Accountants (AICPA), the CIMA established the Chartered Global Management Accountant (CGMA) designation in 2012 to recognize members with this qualification.
What about The CIMA exam? The CIMA has over 6,000 exam centers worldwide for you to choose the best one for you. The Certificate in Business Accounting (CIMA) and the Professional Qualification are available all year. The examinations last 120 minutes, and each contains 60 test questions overall. And a piece of excellent news is that the Objective Tests are available ASAP and computer marked. So, upon completing your examination, you will receive a provisional result of either 'Pass' or 'Fail.' In this case, it will not be necessary to suffer from nervous gastritis for a month waiting for your results!
Another vital thing to know is that you can schedule your exam by visiting their website.
- The Association of Chartered Certified Accountants (ACCA):
The ACCA is a global body of professional accountants. The ACCA is a qualification most recognized in all the developed countries across the globe, like the UK, Australia, Canada, and many others. If you get the ACCA, you will find job openings in all these countries. Did you know that there are over 200,000 members and 500,000 ACCA students across the world? Are you ready to acquire an international profile? We bet you are!
ACCA presents itself as: "A powerful global presence within the profession, ACCA inspires its members and students towards greater success and prosperity."
If you pursue the ACCA, companies and organizations will trust your profile. You will be able to pursue a businesses career in large and small public and private establishments. ACCA focuses on pure Accounting.
What do you need to get the ACCA? To obtain this qualification, it is necessary that you successfully pass a significant number of exams. However, if you already have some professional experience, it may not be mandatory for you to do some of them, but this depends entirely on your profile. Also, within the requirements, you must present 36 months of relevant work experience; for example, you have experience working with a certified accountant. In addition, you should consider studying and approving their Code of Professional Ethics.
What about the ACCA exam? Here you can find details on the requirements you need to apply for the ACCA exam.
Depending on any existing qualifications you may hold, you can be awarded an exemption, such as the Foundation level qualifications and the nine Applied Knowledge and Applied Skills exams of the ACCA Qualification.
Also, did you know that many of ACCA's exams are now delivered through computer-based exams (CBEs), or you can look for specialized centers where you can do it? Yes, the wonder of technology facilitating our life once again! You have the facility to book your exam online or through the website.
Please take into account that ACCA has a time limit rule for students to complete their Strategic Professional exams to give employers assurance that they have relevant and up-to-date knowledge to enhance their organizations and exercise their functions in the best way in the workplace. For instance, a candidate may be asked to complete their exam within a seven-year deadline of starting the course. Still, you can find out more about the time limits related to your circumstances by consulting their website.
- Associate Chartered Accountant (ACA):
The ACA certificate will develop your accountancy skills and upgrade your technical knowledge. The ACA certification is globally-recognized, and it will help you gain a deeper understanding of accountancy and finance from the point of view of a business.
What about the ACA exam? The ACA exams are a bit complex since they require dedication and investment to achieve them. But what does not need commitment and investment in life? The exam is composed of a large volume of content, where the intensive study will be the only way to achieve it. But you can breathe a bit since to pass the exam, you will need to get 50% or 55% of correct answers (depending on the specific test). As you see, it is possible to pass this certification with enough study. Nothing is impossible if you want it! Even get all the accounting certifications you want!
Apart from the exam, passing the 15 learning modules of the ACA qualification is a must, and also, you must complete a minimum of 450 days of recognized work experience.
The Certificate aims to understand the fundamental principles of accountancy and how it is related to financial management and business. You will find accounting, assurance, finance, law, management, and taxation within the basic principles you will need to acquire. The ACA credential supports the candidate's training to develop essential accounting competencies every Chartered Accountant needs.
But the million-dollar question here is, which certification works best for you? Maybe it won't be possible to give you a very accurate answer about which Certificate you have to pursue in Canada because it depends entirely on what career path you're interested in. However, what we can recommend is that you not only stay with our article. Try to inform yourself as much as possible before making a decision. The career path will always be full of surprises and unexpected changes. However, if you are sure of your choices, you will enjoy the process even more.
If you have decided to enroll in one of these exams to obtain a certification, you have two options to achieve it! Are you ready to start your professional career in accounting with success?
- Option 1: You can choose to prepare yourself through authorized training centers: There are authorized training centers throughout the country, where you can come to take preparation courses for the ACCA or any certification. This can be an excellent idea since these institutes are instructed by the corresponding organizations and will advise you in the best way about how to reuse the exams. Being part of these authorized centers will also give you exclusive access to their specialized resources.
- Option 2: The second option could also be to find a private accounting tutor to prepare you in the best way and at your own pace! Through the internet, you can find excellent study platforms to find your ideal private tutor and the most qualified to pass all the certifications you have in mind.
Start preparing yourself in the best way!
Have you heard of Superprof? Superprof is the best platform for private tutors! It is a site present in more than 30 countries, which is very accessible, and where you can find the best accounting tutors to pass all the accounting certifications you want to acquire! Even, in Superprof you will find tutors specialized in anything that crosses your mind! Are you interested in learning Japanese and then learning to play the guitar? Superprof is the solution to your questions!
Find the perfect accounting tutor for you and the one closest to you, no matter where you are in Canada. You no longer have excuses for not attending your private tutoring since, with Superprof, you can follow an online modality to take classes from the comfort of your home or opt for face-to-face courses depending on your needs.
Another of the advantages of Superprof is that you can choose the private tutor that suits you best! Check all the profiles of private accounting tutors available on the official site!
Want to make sure you select the correct tutor? Take advantage of the free trial class to find out how they work and if it can help you prepare in the best way. Find your better half of accounting with Superprof! It is easier than you think! Enter the official website and twist your career path! Check here for Canada's best online accounting courses, and welcome to the Superprof family!
See you soon accounting baby!
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Aw, this was an extremely good post.
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This was an extremely good post.
Check my ACCA website ACCA Study Material
Thank you Hisham!