Accounting Major/Minor

The two main focuses of accounting are public and management accounting. Public accountants are outside consultants that provide audit, tax, and business advisory services to their clients. Management accountants are employees of organizations working in areas such as financial reporting, performance measurement, financial planning, capital budgeting, cash management, working capital management, short and long-term financing, and risk management. Most accountants aspire to someday become a partner at their public accounting firm or their organization’s controller, treasury, or chief financial officer (CFO). Many CFOs go on to become a company's Chief Executive Officer (CEO) or serve on its board of directors likely as a member of the audit committee.

Upon graduation, most students choose to pursue the Chartered Professional Accountant (CPA) designation while they article at a public accounting firm or work in industry. With the Accounting Major, students will receive all possible exemptions and move directly to the CPA Professional Education Program (CPA PEP) if they meet the grade requirement. Here they engage in advanced study and learn how to integrate material relating to the six CPA core competency areas of financial accounting, strategy and governance, management accounting, audit and assurance, finance, and taxation. CPA PEP consists of five modules and an exam preparation course and culminates in students writing the rigorous Common Final Examination (CFE). After completing a 30-month work experience requirement, students are awarded the CPA designation.

Once they are established in the profession, many accountants go on to earn a second professional designation such as the Chartered Business Valuator (CBV), Certified Insolvency and Restructuring Professional (CIRP), or Chartered Financial Analyst (CFA). Some also complete graduate degrees and pursue careers in teaching and research at the college or university level. No matter what they choose, accountants are professionals who make a life-long commitment to remaining up-to-date in their discipline. CPA Canada ensures this through its professional development requirement.

For those students wanting exposure only to accounting, an Accounting Minor is also available.