Professional Accountants Flashcards
what are the professional accountants that are recognized in Canada?
CA, CMA, CGA, CPA
what is a CA (chartered accountant)?
internationally recognized accountants focused on auditing
what is a CMA (chartered management accountant)?
recognized in Canada and are focused on financial analysis, business strategy, and management accounting
what is a CGA (certified general accountant)?
recognized in Canada and perform various accounting functions
what is a CPA (chartered professional accountant)
a combination of a CA, CMA, and CGA that was created to reduce confusion
what is strategic management?
the process of setting goals, procedures and objectives to make a company more competitive
what is performance management?
the process of communication between supervisor and employees in support of company goals
what is risk management?
identifying, assessing, and controlling threats to profit
what do accounting clerks/bookkeepers do?
performs administrative tasks (ensures transactions are properly recorded, make payroll calculations, and carry out necessary banking transactions)
what do accountants do?
maintains an entire accounting system and oversees processes in the accounting cycles (ensures correct data is entered into the system, interprets data, prepares reports, etc.)
