- 01. Cool facts about accounting!
- 02. Introduction to Accounting
- 03. Why Study Accounting in Canada?
- 04. What does it take to be an accountant?
- 05. Willing to study Accounting: Where to start?
- 06. Where to study Accounting in Canada?
- 07. Skills that will upgrade your accounting career
- 08. Learn Accounting in the best way!
- 09. Why having an accounting tutor is the best idea?
- 10. Know the qualities of a good tutor
- 11. The best accounting tutors in Canada
If you have a natural affinity for numbers, have a privileged analytical mind, are quick to spot patterns, and love solving problems, you should take advantage of all these great qualities and consider becoming an accountant. Exploit your potential to the fullest!
Usually, we think that an accountant is a middle-aged man with tiny glasses, processing numbers all day on a calculator and filing tax reports throughout the year. This may have been a fact in the fifties. However, in today's business world, accountants are crucial pieces in maintaining a company. We could say that accountants are the backbone of any firm! Accounting will always be about the proper organization and improvement of economic, fiscal, and financial resources.
Now, if you are worried about doing calculations all day, chill out! The development of various accounting software makes it easier to perform regular bookkeeping tasks, such as issuing invoices and tracking payments and costs. Technology has impacted our entire way of doing things.
So, if you are considering the idea of becoming an accountant, you probably want to know what you are getting into, what it involves, and how to become the best accountant in Canada. Let's see how you can become a Certified Accountant!
Do you want to start practicing your skills? Find the best accounting courses here right now!
Cool facts about accounting!
- Did you know that Luca Pacioli is known as the father of accounting? He was an Italian mathematician who published the first accounting book on November 10, 1494. The book's name is "De Computis et Scripturis" and describes a system used to manage the states of 15th century Italy.
- Thanks to this famous book, International Accountants Day is also celebrated the November 10.
- Did you know that ancient civilizations like the Egyptians had an accounting system? About 5000 years ago, accountants were the ones that recorded production and purchase outcomes.
- Also, Romans were experts in accounting! There are records of cash, merchandise, transactions, and detailed financial information from the Roman Empire. Perhaps accounting was one of the reasons they became so powerful!
- Did you know that Mick Jagger and Janet Jackson originally studied accounting? Who would say that later they would be famous superstars!
- Would you like to know more about famous movies with accountants? Please take a look at our list!
- The Schindler's List.
- Stranger than Fiction.
- The Apartment.
- The Shawshank Redemption.
- The Accountant.
Here end our curious, fun facts about accounting! Are you ready to dive into how accounting works in Canada? Us too! But first, let's do a brief test to see how your accounting knowledge is going.
Introduction to Accounting
Complete the following accounting terms. And, take it easy! It's just to exercise the brain a bit. We will give you some clues!
- Type of accounting mainly used to prepare financial information to make better decisions (two words): F__n__nc____l / a____oun__ing.
- The person who provides an opinion on the fairness of financial statements (one word): A__d__t__r.
- Type of accounting used in public sector entities (two words): G____er______nt__l /____c____nt____g.
- One of the main financial statements (two words): B____a__c__ / sh____t.
- Refers to the earnings that are distributed to shareholders (one word): D____id____d__.
- It is a type of loan made by an investor to a borrower, and it is a part of financial debt (one word): B____d__.
- Refers to a negative balance on the bank account (two words): __an__ / o____rdr__f__.
- Refers to all the resources that have economic value and that can provide future benefits (one word): A____e__s.
- Is the decreasing value of a tangible asset from the moment of its acquisition (one word): D__pr__c____t__on.
- Refers to the cash that goes in or out of business (two words): C__s__ / f____w.
Perhaps the test was a bit complicated for those who don't have much of an accounting idea. But no problem, you can continuously improve if you want to, and it takes a little effort and practice. Now, let's get down to business!
Do you want to know more about an introduction to the basics of accountancy? Take a look here!
Why Study Accounting in Canada?
Studying Accounting can give you many advantages and open many job opportunities for you. Let's get to know just a few of them!
- Did you know that most Canadian Universities have the accreditation of Chartered Professional Accountants of Canada (CPA)? The CPA is one of the most important organizations of Accounting in the world! (we will delve into these types of certifications later).
- In Canada, Accountants working in the business sectors have salaries of 52,000 CAD on average per year!
- Did you know that graduates in Accounting find a job within the first six months?
- According to Job Bank Government Canada and the labor market, the country will hire 75,000 accountants in the coming years.
What does it take to be an accountant?
If you are studying this profession, you can assess whether your profile fits an accounting student profile. Among the qualities an accountant needs to have are:
- A good capacity for logical reasoning.
- Good numerical and mathematical language skills.
- Effective and efficient problem-solving.
- Strategic creativity.
- Decision making.
- Comfortable working under pressure.
Now, if you don't have all these characteristics, don't worry. You can always acquire them. However, we recommend you have good career guidance to know how to identify your strengths and skills. That will indeed serve you to practice as an accountant. Embrace the genius you have inside! Get to learn more about Accounting Qualifications here!
Studying accounting in Canada can offer you a great career prospect, with the opportunity to find suitable job opportunities in both the public and private sectors. With a large number of emerging start-up companies, you can be sure that you will have great demand in the job market.
An accountant can take many professional paths, such as internal control, taxation, treasury, credit, auditing, among others. However, you can also become self-employed! Accounting consultancy is crucial for the survival and growth of any corporation or institution, whether you focus on cost reduction analysis or even risk identification. You can even work for Canadian government agencies or international organizations! And if you speak several languages, well this could be an excellent opportunity for you!
So, if you are convinced about studying accounting throughout the Great White North, you will find excellent academic options for your professional training.
Willing to study Accounting: Where to start?
Get to know the Main Canadian Certifications.
To exercise as an accountant, you need to accomplish a two-year Accounting degree, depending on the certification you are looking for. Even though it is not mandatory to be certified, it could be a total upgrade for your professional career. Check out what salary you could get once a certified accountant! Let's have a look at the most crucial Accounting Certifications in Canada:
- CPA (Chartered Professional Accountant)
CPA is the highest Accounting certification in Canada. Its a certificate suitable for students seeking to become Public Accountants (PA) or Auditors. The CPA is considered one of the more general certifications in the field. To get the CPA, you have to pass the AICPA Uniform CPA exam*, have a completed accounting Bachelor's Degree, and two years of relevant experience. To know more about the CPA Certification program, click here! https://www.cpacanada.ca/en/become-a-cpa/cpa-certification-program-evaluation
- CA (Chartered Accountant)
Obtaining the CA requires a bachelor's degree in accounting and training at an accounting firm. The CA certification is recognized internationally and will allow you to gain managerial skills and technical knowledge in planning and strategic management.
- CGA (Certified General Accountant)
CGA certification requires a minimum of two years of Bachelor's degree or having attended CGA-related courses, an entrance exam, and three years of experience. CGAs generally specialize in tax, finance, management, and auditing, as well as tax advice.
- CMA (Certified Management Accountant)
For the CMA certification, you need a bachelor's diploma, passing an entrance exam, and also adequate work experience. Generally, the evaluation process lasts two days, and it evaluates your knowledge in business management. This certification is aimed at accountants who seek to work mainly in private companies.
In Canada, you will also find:
- Advanced Certificate in Accounting and Finance (ACAF)
This certification is aimed at students who already have an accounting education and plan to work in the industry. This training does not aspire to obtain the CPA; it gives you more skills to work in the field.
- Certified Professional Bookkeeper (CPB)
It is highly recommended for those who want to work in small businesses or non-profit organizations. It is well recognized as it is an excellent way to show your skills in this area.
*The AICPA Uniform CPA exam: The CPA test is composed of four main parts: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Every section has a four-hour duration, and it lasts 16 hours in total. Generally, it requires investing much time in studying and is one of the most challenging accounting exams.
Now that you have better knowledge about the Canadian Accounting Certifications, we will take a closer look at some universities that offer Accounting programs.
Take accounting courses here on Superprof.
Where to study Accounting in Canada?
Diploma in Accounting:
- Centennial College: Located in Toronto, Canada, Centennial College is a Business School that primarily focuses on financial and management accounting, as well as the use of accounting software. It has a two-year duration.
- Cambrian College: Located in Sudbury, Canada, it also has a two-year program in General Accounting mainly focused on corporative accounting.
- LaSalle College Montreal: It's a full-time Accounting and Management Technology program, mainly focused on business management and computer-assisted accounting.
- Fanshawe College: It's a general Accounting program with a two-year duration focused on the manufacturing and merchandising sectors, banks, and financial institutions.
Bachelors of Accounting:
- University of Toronto: The U of T has a Bachelors in Commerce with an Accounting Specialization, mainly focused on the Chartered Professional Accountant (CPA) or Advanced Certificate in Accounting and Finance (ACAF) preparation.
- Brock University: The Goodman's Bachelor of Accounting (BAcc) program has a four-year duration designed to get the CPA certification (Chartered Professional Accountant).
- McGill University: The program focuses on financial accounting, managerial accounting, auditing, and taxation. This Accounting program focuses on obtaining the Chartered Professional Accounting (CPA).
- McMaster University: Has a four-year undergraduate Commerce program part of the DeGroote School of Business. It focuses on disciplines such as Accounting, Finance, Marketing, Operation management, and Human resources.
- University of Waterloo: Its School of Accounting and Finance offers a Bachelors in Accounting and Financial Management, and it has accreditation from the CPA Canada.
- Fanshawe College: This is a two-year diploma specialized in accounting focusing on general accounting to computerized accounting. This Master's program is aimed at graduates interested in the private corporative field or public institutions. The main specializations are Business Administration-Accounting Advanced Diploma of the Honours Bachelor of Commerce Degree.
- Humber College: Humber College offers a two-year Accounting diploma focused on business, economics, information systems, accounting software, and general management. The program is also aimed at students pursuing CPA preparation.
- Thompson River University (TRU): The Accounting Major focuses on private and public financial management. Within the career paths, we find auditory, taxation, and consultancy. This program focuses on the CPA designation.
Skills that will upgrade your accounting career
Here you will find the average salary you can get from acquiring the following skills in Canada. Perhaps this can later help you chart a better career path:
- Financial Reporting: CAD 53,253
- General Accounting: CAD 53,282
- Accounts Payable: CAD 50,591
- Expert knowledge of Microsoft Excel: CAD 51,258
- Bookkeeping skills: CAD 49,854
As you can see, finance skills are associated with above-average pay. Maybe specializing in finance could be the best idea!
Learn Accounting in the best way!
If you are looking forward to passing your CPA certification or preparing yourself better to apply for a Bachelor's Degree, you can start to study in the best and most practical way! Today is easier to immerse yourself in the world of accounting! Fall in love with numbers!
Have you thought about having personalized private tutoring to practice everything related to accounting? We can study any subject independently thanks to all the virtual tools we have available. But, it will be easier to understand how to analyze a simplified balance sheet, calculate the inflows and outflows of a company, and understand all the inventory valuation methods accompanied by an expert.
Having an accounting tutor will help you to:
- Understand general accounting or specific subjects such as Financial Accounting or Management Accounting.
- Have a better overview of your professional goals,
- Get to know how accounting works in real life.
Get more information about online accounting courses in Canada here.
Why having an accounting tutor is the best idea?
Being accompanied by an excellent private accounting teacher is essential for the performance and motivation of all those who want to get to know more about accounting, seek extra school support, prepare for the CPA tests, learn more about the existing certifications, among others.
A good accounting tutor will identify your specific needs and help you develop critical and analytical thinking, both of which are extremely necessary for this field. A good accounting teacher can even mark a "before and after" in your personal and professional development.
Private tutoring must always be of quality and taught by experts in the field. What better way than to know how the real corporate or financial world works from the hand of an accountant with years of experience? There is nothing better!
Excellent private teachers take their work most professionally, and each class will be worth it. We are sure that your future accounting tutor will awaken even more interest in the world of accounting and motivate you to immerse yourself in the lessons, identify your mistakes, master them and finally achieve the best teaching-learning process.
A good accounting tutor is an excellent communicator and knows the perfect formula to develop critical and analytical thinking and an efficient and effective response capacity. You won't know what it's like to work under pressure until you have an accounting professor in front of you. Ready to become an expert with that calculator and with Microsoft Excel? It's time to do your best! All the hard work, sacrifices, sleepless nights, struggles, and downfalls will pay entirely off!
Take accounting courses here on Superprof.
Know the qualities of a good tutor
We can be almost sure that you have already met a teacher who marked your school experience in the best way, but why not meet another exceptional teacher? Know the characteristics that an excellent private tutor must have, either in accounting or in any discipline. A private tutor will be:
- A facilitator: Having a private tutor will promote the ideal learning conditions for a greater and better exchange between the two, enabling a space that facilitates attention, stimulates creativity, and enhances multiple intelligences and abilities. It doesn't matter if you want to be an accountant but aren't good with numbers, for example. Your tutor will give you the best tools so that you can practice over and over again, achieving your study objectives and goals. Remember that practice makes perfect!
- A referential figure: Your private tutor will be an excellent reference for academic and professional experience. Your tutor likely has to have passed one of the accounting certifications mentioned before or specialized in a specific area, for example. If you have questions about your career path, the certifications test, or any doubt about a particular branch of accounting, maybe you have all the answers to your questions in front of you. Suppose you are interested in delving into Financial Accounting, for example, and your tutor has experience in the field. In that case, you can make the most of your time to clarify everything you need.
- Passionate about teaching: If you already have an expert in the financial area in mind, you need to know the harsh truth. That someone has much experience in a particular branch of accounting does not mean that he is a good teacher. A good tutor must design the methods and techniques that facilitate student learning, good communication, promote participation, and develop knowledge and skills. It only takes a passionate teacher to keep anyone motivated to learn for life.
- A wise guide: A private tutor will be the critical piece for finding the way out of all the difficulties you run into when solving an accounting case study, or at least when explaining how to solve it. Although the use of the calculator has been overshadowed by accounting software in professional practice, we are sure that your teacher will make you train all those calculations repeatedly. The time has come to concentrate to the maximum!
Excel in accounting! Ready to find your ideal tutor in Canada?
The best accounting tutors in Canada
Perhaps the first step towards success is to find your private teacher. The best and most practical way to find your ideal private classes is through Superprof! Superprof is a world-renowned online learning platform where you will discover the best private tutors near you and throughout Canada. Are you ready to be part of a community of more than 3 million students, no matter where you are? For example, find accounting courses in Calgary!
Enter the official site of Superprof Canada and discover more than 340 accounting tutors ready to contribute to your success! If you are looking for face-to-face classes or distance learning, Superprof is an excellent option to find the best private tutors in accounting and thousands of other disciplines! Would you also like to learn to dance the tango or speak French? Don't wait any longer! Give it a try and find out all the wonders that technology can do for you!
Are you ready to have the most personalized experience? In the Superprof platform, you can select the level of studies, what topics you want to review, for example, introduction to the basics of accountancy, choose the price of the tutorial that suits you best, and your ideal tutor.
Find the best tutoring with Superprof!
And guess what? Here come all the answers from the accounting exercise!
- Financial accounting
- Governmental accounting
- Balance Sheet
- Bank overdraft
- Cash flow
Hasta la vista accounting baby!
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