Why cga and ca

This can be confusing when the Firm name and the member name are the same, as in the case of a Sole Proprietor. In this situation the firm signage, letterhead, etc. Reference to the individual member on business cards, online profiles etc. A business card for a sole proprietor would require tagging for the member name while the firm name on the top of the card would display only Chartered Professional Accountant.

The bookkeeping profession is currently unregulated in Canada, and anyone can advertise their services as a bookkeeper. The Certified Professional Bookkeeper CPB designation requires at least two years of professional experience as a bookkeeper and completion of an exam. From a business point of view, the duties of a bookkeeper and accountant are quite different although there is some overlap. Generally, a bookkeeper is responsible for business record keeping, e.

Many bookkeepers can also perform some accounting functions such as creating basic financial reports. An accountant deals with the bigger picture; his or her main function is business planning. The accountant's role is to examine the numbers recorded by the bookkeeper, summarize the information, and prepare tax returns , financial statements, annual reports, and provide advice to the business as to the financial state of the company.

Accountants are usually tasked with dealing with the tax authorities should any tax-related issues arise. The rates charged by accountants and bookkeepers are commensurate with the differences in training, education, and responsibilities - bookkeeping hourly rates are a fraction of those charged by accountants.

For business owners, having a good bookkeeper and a well-organized accounting system can reduce accounting costs substantially. One of the best ways for a business to save money on accounting and bookkeeping costs is by using small business accounting software. CGAs, like CMAs, will be more limited in the jobs they can have, due to the comprehensiveness of their education programs.

CGAs can work in finance, government, and public practice, among other industries. In some provinces, CGAs are limited in their auditing practices. CMAs must be creative, as they may be expected to complete managerial financial duties and devise solutions to a wide variety of problems.

CMAs may apply for a strategic leadership program upon completion of their credential. Jibe Accounting hope the above explanation has helped you to differentiate between the levels of expertise and competency between accounting designations.

This is some what of a good comparison. The main difference is in all honesty, the CA designation is harder to achieve than the CGA designation. You must go to University, complete approximately 3 years of training including hours in auditing working for a recognized CA firm as well as hours of non assurance, as well as taxation hours, all with a recognized CA firm. Ask any University professor which profession will lead to higher paying jobs, and more demand.

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