September 13, 2018 Overview Overview of CPA Professional Education - PowerPoint PPT Presentation

September 13, 2018

Overview  Overview of CPA Professional Education Programs • Becoming a CPA • CPA - PEP • McGill’s Programs • Desautels GCPA Program Requirements • Desautels GCPA Application Process. uApply. 2

Introductions - Useful Contacts Julia Scott: Program Director, Desautels Amanda Abrams: 1 st year Coordinator, Desautels Yulia Nikitina: Program Administrator, Desautels GCPA, room 315 Katlin Aarma : Admin. Student Affairs Coordinator, Desautels GCPA, room 315 (acting) ___________________________ Kirsty Rancier: School of Continuing Studies 688 Sherbrooke, 11 th floor 3

Becoming a CPA  To receive a CPA designation, you must: Complete a recognized undergraduate degree 1. Complete a PEP – Professional Education Program 2. • McGill’s Graduate Certificate in Professional Accounting (GCPA Program) is a recognized PEP Successfully write & pass the CFE (Common Final Exam) 3. Complete a 24 month recognized internship 4. • Broad ranges of acceptable work situations - public accounting, taxation, valuation, industry, or government • Outside of Quebec the internship period is 36 months 5

Quebec CPA Order - Your Undergraduate Degree  You must meet the course requirements outlined by the Order for the school where you obtained your B Com. http://cpaquebec.ca/en/becoming-a- cpa/prerequisites/bachelors-degrees- recognized-in-quebec/ 6

PEP – Professional Education Programs 1. Desautels GCPA (full-time program) 2. School of Continuing Studies: Graduate Certificate in CPA Professional Education (part-time program) 3. National on-line program 4. Graduate programs at other Quebec universities or other schools in Canada 7

CPA Competencies Technical Skills Enabling Skills 1. Financial Acct 1. Professional & Ethical Behaviour 2. Mgmt Acct 2. Problem-solving & 3. Strategy & Governance Decision-making 4. Audit & Assurance 3. Communication 5. Taxation 4. Self-Management 6. Finance 5. Teamwork & Leadership 8

CPA – PEP components Starting in 202 CFE written in May & Sept. • Capstone Common Capstone Evaluation Final Core 1 Core 2 Electives Integrative Preparation Examination (Cap 1) (Cap 2) (CFE) Choose 2 of: Performance 3 days of Management exams Finance Leadership Candidates Skills, Exam evaluated on Management Assurance Financial Integration of preparation Accounting, Breadth in Taxation Reporting, Competencies Strategy, all core Development Taxation & competencies Governance Team project, of enabling Assurance & & Finance To practice board competencies public presentation Depth in accounting 2 core must take competencies Assurance & Taxation 9

Electives and affect on CFE  On Day 2 of the CFE, students assume different “roles” (auditor, tax advisor, finance, performance measurement (controller))  Which Electives you choose will determine which role you will write  At Desautels currently only the Auditor role  For other roles need to look at other programs 10

National On-Line Program  Available across the country. In Montreal offered through UQAM in English.  Each module (Core 1, Core 2, etc.) is an 8 week session done on- line with 1 weekend “face -to- face”.  Will start at different times during the year (at least 2x).  http://cpaquebec.ca/en/becoming-a-cpa/education/national- program-delivered-by-the-order/  Takes 2 years to complete  Cost $10,336.26 (includes taxes). Plus administrative fees & annual membership + CFE fee $1,776.36. 11

National Program Prerequisites  To enter the National Program directly from McGill you need the same prerequisites as for our program (discussed later).  If you are missing a few, CPA Canada offers CPA PREP – on-line modules where you can make up for any missing prerequisites.  They are NOT acceptable as prerequisites for McGill’s GCPA. 12

McGill SCS Program Graduate Certificate in CPA Professional Education 24 months Fall 1 Winter 1 Fall 2 Winter 2 Summer 2 CFE Core 1 Core 2 Electives Case Capstones Writing Available to work throughout. All classes at night or weekends  Offers all 4 electives  Able to work throughout 13

Out of Province Options  Some Ontario universities offer graduate programs that satisfy some parts of the PEP. Upon completion you transfer into the National Program. • i.e. Queens & U of T have summer programs after your undergraduate that allow you to enter at the Capstone 1 point. 14

Transferring among PEPs  It IS possible to start at McGill and then transfer to the National Program depending on where in the program you are. • i.e. move or get a job in another province  It is NOT possible to start in the National Program or another university’s PEP and then transfer into McGill. 15

Objective: Desautels GCPA  The goal of the GCPA is to provide you with the necessary tools to become a CPA • Provides professional training on the latest CPA concepts and practice-related issues • Focus on CFE case writing techniques and integration of knowledge to the various scenarios. • Develops & integrates CPA Technical & Enabling Skills throughout the program 17

Desautels GCPA (full time) 18

Program Schedule - GCPA  The program begins around May 1 st and has a duration of 16 months  The two summers are full time: • You won’t have time to work either summer • 1 st summer ends around July 20 in 2019  Fall classes 2 nights/week  Winter term - no classes 19

Desautels GCPA Advantages  Integrated approach to learning across the technical competencies right from the start  Development of enabling competencies & presentation skills throughout the program  Base Camp to develop key skills and maximize learning in the program  Small class/program size  Quality instructors  History of success (National Honour Roll) 20

Our Classes  Class size is limited to 60 students  Smaller classrooms ensure • Better relationship with the instructor • Facilitates in-class participation • Better tracking of the students’ progress • More opportunities for individual debriefs and feedback 21

Our Instructors  Very motivated and dedicated to the students • Use a combination of full time academics & part- time instructors who are working CPAs  All selected because of their work experience, knowledge of specific accounting topics and superior ability to solve CFE type cases 22

Base Camp for Full Time Program  Optional Base Camp in the 1st summer & fall ($250) • A full day Case Skills Seminar & and a full day Presentation Skills Seminar • A hands-on instructional workshop on Examination Software • Three individual coaching sessions over the course of the summer & fall terms • Helps students make the transition to Case Based Learning • Strongly recommended! • Scholarships available to the top applicants to cover the cost 23

Capstone 1 (Integrative course)  Includes a group project & presentation  All students across Canada get the same large comprehensive case at the same time.  Get 8 weeks to do a strategic analysis and prepare a presentation to be delivered to a “board” of the company.  Purpose: to develop professional & team skills and to integrate all competencies (see CPA Competency slide).  At McGill we start doing comprehensive cases & group presentations in the 1 st courses. Develop & integrate enabling skills from the start. 24

Cost of Desautels GCPA  Average $1,938.60 regular tuition fees for Quebec residents (24 credit program; $79.70/credit – S18; $81.85/credit - F18 term, plus S19). Per credit fees changes every semester. Other fees & charges do apply.  $250* Base Camp offered at start of the program to help you bridge the gap from undergraduate to CPA style learning  $2,000* CFE Prep course in final summer (*subject to change)  $592.12 Registration with the Order. CPP annual dues $419.66.  $1075.02 Examination software & educational material access fee  $1,776.36 CFE Registration  All fees are subject to change without notice  Some of the fees may be reimbursed by your employer 25

CFE Prep Seminar ($) (Capstone 2)  Program in the 2 nd summer leading to the exam in September  Focuses on case writing techniques and integration of knowledge acquired through the program  Weekly one-on-one debriefs with graders (recent writers) and group debriefs with other students  Three day Mock CFE in July  Passing grade for the seminar 26

Past CFE & UFE Success • 2017 CFE – Gold Medal in Quebec (shared) • 2016 CFE – 1 Honour Roll student • 2015 CFE – 3 Honour Roll students • 2013 UFE – 2 Honour Roll students • 2011 UFE – 3 Honour Roll students • 2010 UFE – Gold Medalist in Quebec • McGill is devoted to ensuring the success of ALL of their students at the CFE. 27

Other useful skills  All exams in the GCPA program are written on PC-based computers • You need to be able to type well, and a good knowledge of Excel will be an asset  All exams are extremely time constrained • You need to be able to read, comprehend & write well (quickly) in English (now is not the time to be switching languages for studying) 28