Accounting – MelissaMonaghan

Accounting Designation Merger Reaches an Impasse

Over the last year or so there have been talks about a merger between Canada’s accounting designations CMA, CGA, and CA. The streamlining of these three designations would put Canada in a position to have their accountants equivalent to those in the United States with a CPA designation. This week discussions took a negative turn, with Ontario CGA’s dropping their support for the merger, thus collapsing talks.

Without Ontario, a national merger is not feasible; Ontario has the highest concentration of accountants in Canada. British Columbia is going ahead with a provincial merger of the CA and CMA designations.

Having immediate family with a CA designation and another with a CMA, this is a common issue of debate in my household. It appears both are happy with the decision, as they will now receive an internationally recognized designation, with a streamlined system with the United States. This merger will also cut down membership dues, as the combined membership fees should improve efficiency for the Institute administration, as there will only be one Board.

Ultimately, this merge is a win-win. The CA’s do not have to worry about their designation being marginalized as they will be the CPA.CA, while benefiting from the increase in efficiency.

Shifelt, Tim 30/10/12, “Canadian Accounting Merger Hits the Rocks”.http://business.financialpost.com/2012/05/17/canadian-accounting-merger-hits-the-rocks/

Make-Believe Accounting from the Canadian Government

The Canadian Government has released the latest First Nations education funding numbers. The Federation of Saskatchewan Indian Nations is up in arms about the funding promised by the government claiming “The government’s numbers are, in fact, fairy tales. Their falsified numbers are really Pinocchio accounting”. According to The Leader Post, a Regina based daily paper, Aboriginal schools only receive $6,500 per student whereas English and French based school receive between $10,000-$18,000 per student. These numbers are drastically different than those put forth by the government, who claim to spend an average of $13,000 per student aboriginal student.
It is astounding to think the government could make such large lapses in their figures. One must take the numbers proposed by the Leader with a grain of salt, even though they claim “most estimates” have drawn the same conclusion. What I was able to take away from this article was not only should we question the numbers and facts given to us by our government but also from our media. Also, when the government’s reliability has been questioned, who is there to audit them?

Warick, Jason. “FSIN Rips Ottawa for ‘Pinocchio Accounting'” http://www.leaderpost.com/news/FSIN+rips+Ottawa+Pinocchio+accounting/7366316/story.html