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Running Head:RESEARCH REPORT ON BUSINESS ACCOUNTING RESEARCH REPORT ON BUSINESS ACCOUNTING Student’s Name& ID:_Kaur Sidhu________ Course:_Business Accounting_____ Professor’sName:_Mr.Hasan______________ February 23, 2020
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1RESEARCH REPORT ON BUSINESS ACCOUNTING Table of Contents Academic program outline..............................................................................................................2 Industry affiliations..........................................................................................................................2 Professional association...............................................................................................................2 Purpose....................................................................................................................................2 Users........................................................................................................................................2 Services....................................................................................................................................3 Events......................................................................................................................................3 Membership and fees...............................................................................................................3 Industry certification and publication..........................................................................................3 Levels.......................................................................................................................................3 Cost of certification.................................................................................................................3 Process.....................................................................................................................................4 Benefits....................................................................................................................................4 Industry related publication.....................................................................................................4 News article.....................................................................................................................................4 Job posting.......................................................................................................................................5 Three job requirements................................................................................................................6 Job fit...........................................................................................................................................6 Reference.........................................................................................................................................7 Appendices......................................................................................................................................9 Appendix 1...................................................................................................................................9 Appendix 2.................................................................................................................................10
2RESEARCH REPORT ON BUSINESS ACCOUNTING Academic program outline Industry affiliations Professional association I like to opt for the business accounting because there are lucrative opportunities for the fresh candidates to build up their career effectively by pursuing Bachelor degree in Business Accounting in Canada. The education and knowledge in business accounting helps not only to track the income and expenditure of the company but also provide enough insights into the financial information of the investors, management and government (Vardon, Birt & Ingram, 2017). Moreover, the critical practices of business accounting also attracts less number of students in Canada and I can get a strategic advantage by competing with less number of students. Purpose The purpose of Bachelor in Business Accounting is to provide enough insights and ideas regarding the accounting practices ion business. It will help the students to gain deep understanding of the financial condition of the organisation and the ability to provide financial suggestions to the organisation in dire situations (Parry, 2016).
3RESEARCH REPORT ON BUSINESS ACCOUNTING Users Students who are pursuing or persuaded graduates in any of the high schools in Canada are eligible to get admission in the Business Accounting course. Moreover, for the international students a credential assessment is required from agencies like World Education Services (WES) or International Credential Assessment Services (ICAS). Services The course will provide services like training in accounting and have an exercise in different accounting tools like standard accounting software including QuickBooks and Sage ACCPAC ERP. Moreover, preparing the students to get 100% placement in jobs is also an important service that the course will provide. Events Strong foundation skills in business accounting In-depth teaching in the academics and theories of business accounting Lab experiments so that the students will acquire practical knowledge. Training in different accounting software relevant in the current situation. Membership and fees The program is based on four semesters. 2 semesters will cost $3,947.00 tuition fees for the domestic students and for the international students the expense is $16,237.50. Admission or membership is provided through online process. Industry certification and publication Advanced Certificate in Accounting and Finance (ACAF) and Certified Management Accountant (CMA).
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4RESEARCH REPORT ON BUSINESS ACCOUNTING Levels There are three levels of industry certification that any student can be obtained such as the local level, state level and the national level. Cost of certification The approximate cost for receiving a certificate on Business Accounting is $1000. Process In order to get a certificate on ACAF or CMA, it is required for any student to have an undergraduate degree in any field but also a degree in accounting, finance or business (Ibisworld.com, 2019). Moreover, the government of Canada also asks the students to complete the CIMA certification program before getting an industry certificate. Benefits There are several benefits of having a CMA or ACAF certificate. Excellent level of pay is the most crucial and best advantage that the CMA certified accountant can get. A CMA certified business accountant can get enough opportunity in Canadian market to apply his skills in accounting and business management (Cpacanada.ca, 2020). It is obvious to say that there are outstanding opportunities for career development of a CMA or ACAF certified business accountant in Canada (Cpacanada.ca, 2020). Industry related publication There are several publications that the aspirants can go with in order to solidify his or her academic career sound. The purpose of the publication is to create better and competitive edge to the students in the market for getting a better job.
5RESEARCH REPORT ON BUSINESS ACCOUNTING News article The Harvard Business Review advocated that there is a sharp link between the role of Chief Financial Officer and business orientation of the organisation. It is true that current international business companies are intensely driven by the environmental concern and those companies project environmental sustainability as the new form of surviving in the competitive market. However, a pertinent question arises regarding the role and relevance of the company CFO in such aspect. The Harvard Business Review claimed that CFO plays the major role in this matter. The report showed that in the international context, business companies are trying to mitigate and adapt climate changes and investing approximately $1 trillion per year through 2030. Most interestingly the risk factors are also heightened to an astonishing level between $4.2 trillion and $4.3 trillion by the end of the century due to the continuous increase of global warming (Palmeiro & Gibassier, 2020). In such a situation, it is the responsibility of a financial manager to initiate a cost cutting process by reducing the greenhouse gas and pay attention to the climate-safe investments. In response to this, I would like to focus on not only the accounting basics but also it is my responsibility to find out the creative and efficient measures that can help my organisation to gain financial stability and sustainability. I found that the article is highly relevant with my current field of profession in the food and beverage industry of Canada. Therefore, I look forward to grab the opportunity of proposing a sustainable financial model based on eco-friendly business initiatives.
6RESEARCH REPORT ON BUSINESS ACCOUNTING Job posting I am going to get the job of an Accounting Clerk in Collective Arts Brewery. The role of my designation is to work and assist the accounting team and accounting Manager under the direction of the Director of Finance. It includes a number of accounting tasks, administrative and clerical duties. It is a full time job position with the primary job function of accounting or auditing. The advertisement does not mention any exact salary or pay scale for the newly recruited employees but it is negotiable and assures to follow the government guidelines extensively. Job title:Accountant clerk Three job requirements Accounting education or 1-2 years of relevant experience. Has strong inter-personal skill to integrate with co-workers. Has to have knowledge in computer, MS Excel and Word. Job fit I have an accounting degree that is equivalent to 1-2 years experience. Moreover, in school I learned to use Ms Excel or word. As a matter of fact, throughout the course also I have accessed Ms-Excel and Word a number of times. Therefore, it will not be a problem to work in those applications. However, I am not sure about my interpersonal skills. I have a number of friends belong to different ethnicity and religion but I am not sure that it will be the same at my workplace. Henceforth, I am working on my interpersonal communication skills currently.
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7RESEARCH REPORT ON BUSINESS ACCOUNTING Reference ca.linkedin.com. (2020). Accounting Clerk Collective ArtsHamilton, Ontario, Canada. Retrieved 23 February 2020, fromhttps://ca.linkedin.com/jobs/view/accounting-clerk-at-collective- arts-1697402625?refId=4b7e459d-a800-4e3c-94de- e89107a7a888&trk=guest_job_details_topcard_title Cpacanada.ca. (2020). Become a CPA, CMA: Information for internationally trained accountants. Retrieved 23 February 2020, fromhttps://www.cpacanada.ca/en/become-a- cpa/international-credential-recognition/international-credential-recognition-mras-and- rmas/become-a-canadian-cpa-cma Cpacanada.ca. (2020). CPA Canada Advanced Certificate in Accounting and Finance (ACAF). Retrieved 23 February 2020, fromhttps://www.cpacanada.ca/en/cpa-canada-advanced- certificate-in-accounting-and-finance Ibisworld.com. (2019). How is the Industry Trending in Canada?. Retrieved 23 February 2020, fromhttps://www.ibisworld.com/canada/market-research-reports/accounting-services- industry/ Palmeiro, L., & Gibassier, D. (2020). Your Company’s Next Leader on Climate Is…the CFO. Retrieved 23 February 2020, fromhttps://hbr.org/2020/01/your-companys-next-leader- on-climate-is-the-cfo Parry, S. N. (2016). The influence of neoliberal economics on small business accounting research: A critical evaluation of agendas and methodologies.International Small Business Journal,34(8), 1076-1097.
8RESEARCH REPORT ON BUSINESS ACCOUNTING Vardon, M., Birt, J., & Ingram, J. C. (2017). Business and national accounting for natural capital towards improved understanding and alignment.Better Policy through Natural Capital Accounting: Stocktaking and Ways Forward, 215.
9RESEARCH REPORT ON BUSINESS ACCOUNTING Appendices Appendix 1 Image 1:Job Posting (ca.linkedin.com, 2020)
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