Full Disclosure

A PUBLICATION BY MAS 1 WWW.MASONLINE.INFO

RECRUITMENT ISSUE!

FULL DISCLOSURE

A PUBLICATION BY THE MANAGEMENT ACCOUNTING SOCIETY

A Look at the Field of Accounting: An Interview

with Prof. Zvi Singer

Letter from Career Services BY JULIA RISCALDINO

How to Make the Right ImpressionBY CARLA MAE MAMANGUN

CACEE Writing: An In-Depth LookBY SAMUEL HOLDEN

Interviews: Preparations and ExpectationsBY STEPHANIE CHAN

Starting Your Career: Small Firm or Big Firm?BY WILSON PHAN

Distinguishing the DesignationsBY WILLIAM PHAN

! Meet the New MAS Executives

Cover page by Carla Mae Mamangun, photo courtesy of Digitalnative

FALL 2011



Letter from the editor

s our summer vacation, with sunny days and azure skies, bid its final adieu, let’s welcome the Fall 2011 semester. September may not be everyone’s favourite month, but I assure you that it will be a fruitful one for many of us as another session of Accounting recruitment makes its appearance once again. Though our days will definitely be made up of juggling classes and Accounting events, the lessons we will learn and the experiences we will gain will help us to pave the path for our careers in Accounting.

Let our newly named Management Accounting Society (MAS) magazine, FULL DISCLOSURE, help you through the process of recruitment. We have written articles that will shed some light on what you can expect this September, ranging from CACEE forms to firm tours and interviews. Articles are also written by those of us who have gone through this process before and also those who have tasted what it is like to work as an accounting intern in several accounting firms, so rest assured that we are here to assist you.

Though most of us are still thinking of summers past and maybe hammocks by the beach, let’s work hard to achieve yet another successful recruitment this year. McGill students are not only smart (agreed?), but also bursting with personality. So keep the big smiles and intelligent questions coming, and impress the industry.

Sometimes, a good way to motivate intern-hopefuls is by supplying them with quotes from successful individuals. Let’s start with Albert Einstein’s: “You have to learn the rules of the game. And then you have to play better than anyone else.” Uplifting enough? Angela Ahrendt, Burberry’s CEO, also stated the following, “It’s how well you manage your fear that will determine the outcome of your dream.” The dream, of course, is to be one of the few who will get either a summer internship or a full time job with one of the best accounting firms here in Canada. So, allez-y.

Carla Mae Mamangun

A

FULL DISCLOSURE Contents

Meet your 2011-2012 MAS Committee ………….. 4

Letter from Career Services ………………………. 9

Q&A with Professor Zvi Singer ………………… 10

Making an Impression …………………………….. 12

CACEE-Writing 101 ……………………………… 14

Pursue Your CA in Ontario ……………………… 16 Sponsored by Deloitte & Touche - Toronto

Interviews: Preparation & Expectations …………. 20

My Experience as an Intern ………………………. 21

Sponsored by Fuller Landau

Where to Start Your Career? ……………………. 22

Differentiating the Designations …………………. 24

Working Abroad: My Experience ……………….. 26

Entertainment …………………………………….. 27

RECRUITMENT ISSUE FALL 2011


2011 - 2012 EXECUTIVE COMMITTEE

ZAINAB SURATWALA, President Hello Everyone! Welcome to an exciting academic year at McGill. My

name is Zainab Suratwala and I will be the Management Accounting

Society (formerly known as McGill Accounting Society) president for the

current academic year. The MAS team has been working exceptionally hard

to ensure that students get the most out of recruitment this year.

Recruitment can be a challenging time for students. This month will

require you to effectively manage your time, be sufficiently prepared and

well informed on the various activities. The best way to get through this is to

prepare well in advance and not wait till the last minute. A well-prepared

candidate always makes a strong impression. Sufficient work is required

through out all phases of recruitment, whether it is initially attending the

firm tours and the MAS cocktail, submitting the CACEE or attending the

interviews. Luckily, there are a multitude of resources available here at the

Desautels Faculty of Management. I urge you to make the most of it and

talk to your professors, your peers and the MAS Team to address any

concerns.

Being a MAS member allows you to access the great events we hold

through out the year. The MAS Cocktail, the various information sessions

and finally the ski trip are excellent ways to network and integrate into the

accounting professional world.

Full Disclosure has been proven to an essential tool when going through

recruitment. The articles and publications will give you an in depth

perspective. The magazine also helps student assess what a career in

accounting is like.

I wish you all the best of luck and a successful recruitment season. Keep

visiting our website www.masonline.info to keep your self updated. Please

do not hesitate to contact me or anyone else on the MAS team if you have

any questions.


http://www.masonline.info/

http://www.masonline.info/


SAM BAKSHALIAN, VP Finance My name is Sam Bakhshalian and I’m currently majoring in Accounting. One of the reasons I chose accounting is that I find it to be a very straight forward branch of business without being overly reliant on mathematics. I was born in Iran and I moved with my family to Canada in 1997. I’m the VP Finance, which means I will be handling all financial matters, from approving expenditures, funding and handling payments. For the students going through recruitment this year, I would recommend to always keep in mind that this is a very professional engagement and that, although you may become well acquainted with firm reps, you should remain professional.Remember, some of them may be your future bosses! I wish all students good luck and I hope to meet you all in the coming year.

SAAD KALWAR, VP IT Hi everyone! My name is Saad Kalwar and I am a U3 student majoring in Accounting. Accounting has always been a personal interest for me as I want to learn more about the business language that governs our corporate society. I will be your VP IT this year. My position entails maintaining effective communication between MAS and its members. I will be responsible for updating and maintaining our new website (masonline.info) and our social network groups. I was born in Montreal and raised in Pakistan which I believe provided me a diverse perspective and a multi-cultural background. This summer I worked as an Accountant for a new chain of Café. My advice is to check our updates regularly, be organized and prepare your CACEE in advance. Good luck to everyone and I hope you all have a successful recruitment season!

CLARA WONG, VP Development Hello everyone! My name is Clara Wong and I am a U3 accounting student doing a minor in East Asian Studies. I'm from the South Shore and grew up all my life here in Quebec. This past summer, I did my internship at PwC and it was a great experience. This year, I will be your VP-Development, helping students get in the job market outside of Quebec. If you have any questions or concerns, it will be my pleasure to help, just email me! My advice to you readers is to read Full Disclosure. The more you know, the better you can plan your job-seeking strategy.

REMI FRATER, VP Development

Toronto Hi everyone, my name is Remi Frater. I was born in Jamaica; however I have spent most of my life growing up in Toronto. I am a U2 accounting student currently entering my third year at McGill. This past summer, I had the pleasure of working as an intern at PwC and studying as a summer student at the Ryerson University. In this upcoming year, I will be serving as your VP Development - Toronto. My position requires me to research and develop other job markets for students within Toronto. The best advice I can give entering the recruiting season is to attend as many firm tours as you can to gain valuable information and to personally meet the recruiters. See you there and good luck!



SOPHIA KADAS, VP Operations My name is Sophia Kadas and I am a U3 accounting major. I grew up in Montreal and I have done all of my schooling in my hometown, and I have begun my career in accounting here as well. This summer I got the opportunity to do my internship at Deloitte & Touche and absolutely loved it. I will be the VP Operations for the MAS, therefore I will be your go-to girl for all recruitment related information. My biggest piece of advice for recruitment is to be yourself and try to connect with the recruiters on topics other than accounting such as your hobbies and interests. I wish you all the best with the recruitment season and please do not hesitate to contact me with any questions or advice as most people know I’m always up for a good conversation!

PASCAL KAREL MATTE - VP External

My name is Pascal Karel Matte and I grew up in Abitibi (Québec). I am majoring in Accounting and the reason is that it is the language of business, how to read and understand as how to write and explain. I worked the whole summer at Raymond Chabot Grant Thornton and that was an incredible learning experience. I am the VP External, and this position consists of helping the development and the awareness of the three accounting orders (CMA, CGA and CA) in the student community of McGill. I suggest to all students, especially first-year students, to show up at McGill’s activities that seem interesting to you because it is always a good experience.

ANDREI BRAILOVSKI - VP Events

My name is Andrei Brailovski and I am a U3 student at McGill. I am an accounting major and look forward in working as a forensic accountant in the near future. I grew up here in Montreal, playing hockey of course. This summer, I worked for Alstom, a very powerful French multinational in the fields of transportation and nuclear power. I was working as a Project Manager for their Accounting department. For MAS, I am the VP Events. I will be entitled to plan events all around the year for all the accounting students. The most important one will be held this winter and there will be an amazing ski trip. I will be looking forward seeing you there! For the recruitment you have to stay strong and believe in yourself, but most importantly you have to be yourself.

MARIE-DANIELLE ROY, VP Promotions

My name is Marie-Danielle Roy, I am from Montreal and I am MAS’ VP promotions. Basically, my work consists in keeping all accounting students aware and informed about the accounting life at McGill. I will be sending out the MASS emails and updating our facebook page and Twitter account. This summer, I worked at MNP, in an auditing team. The experience is really amazing and I learn so many things every day. My advice for those of you going through recruitment this year is to be prepared. Do not wait until last minute to fill out your CACEE form and to start attending firm tours. The more activities you attend, the greater you increase your network and the better chance you get at finding a job. Remember, grades are not everything. To be in the accounting world you need a great and a strong character. Have fun when you go into an interview and show them how your personality shines, and you will come out of recruitment season with a handful of offers. Good luck everyone, I will see you around.



CARLA MAE MAMANGUN, Editor-in-Chief Hiya! I’m Carla Mamangun, current editor-in-chief of Full Disclosure, which means that my responsibility is to oversee the creation of the Fall and Winter issues of this magazine. I was born and raised in the Philippines, but here I am today in Montreal, enjoying my studies at McGill. I’m a U3 student pursuing a major in Accounting and minor in Art History (yes, two very different worlds). Why accounting? Because I find there’s a balance in this field. What we prepare and cook in Accounting isn’t made up of numbers alone, but packets of viable and trustworthy information, and then add a great chunk of analysis as well. Plus, the challenge is definitely something from which we can benefit. Enjoy recruitment and don’t let nerves get the best of you. Cheers and bonne chance!

STEPHANIE CHAN, Writer Greetings! I am Stephanie, one of the writers, always on the watch to bring you the freshest and best information. I’m a U3 student majoring in accounting. I was born and raised in Montreal and never thought that I would be an aspiring CA today. Like many others, I believed that accounting was all about debits and credits, but that is truly a myth! Over the summer, I worked at Deloitte and I had the opportunity to work in a dynamic environment with other accounting professionals and learn more about what the CA designation entails. Trust me: accounting is nothing like the books. My best advice for those who are planning to go through recruitment is to be honest. Nothing is better than just being yourself.

SAMUEL HOLDEN, Writer I am a U3 accounting student planning on finishing my undergraduate degree this year. Writing for the MAS magazine is the latest on a long list of extracurricular activities for me. This list includes participation in JDC 2011 – which I highly recommend – writing for the Bull&Bear newspaper and organizing MUS intramural teams. As a native Montrealer, I felt it was very important to be involved at McGill so as not to miss out. If readers will accept a single piece of advice from me with regards to this recruitment season, it would be to have fun with it and be yourself. A smile goes further than you think.

WILLIAM PHAN, Writer Hi everyone! My name is William Phan. I was born and raised in the beautiful city of Montreal. I’m entering my third year at McGill, with a major in Accounting and a concentration in Finance. This year, I am a writer for Full Disclosure, which means I will provide valuable insight to our valued readers. This summer, I interned at Imperial Tobacco Canada, where I was inspired to learn more about accounting and the tobacco industry. My advice for students going through recruitment this fall would be to develop a concrete recruitment strategy and to enjoy this amazing experience. I also wish everyone a successful recruitment season!



WILSON PHAN, Writer Hello all! My name is Wilson Phan and I will be one of the writers this year. I am a U3 accounting student pursuing my Chartered Accountant designation. I chose accountancy because of my strong interest in the business world. The enthusiasm that I hold for the field continues to grow as I pursue my education. This summer I had the wonderful opportunity to intern at Imperial Tobacco in the corporate income tax department. My advice to students going through recruitment is to fully enjoy the experience while staying relax and professional at the same time. I hope the best for everyone and please do not be shy to ask me questions!



LETTER FROM CAREER SERVICESby Julia Riscaldino

When I walked out of a recent meeting

with the OCAQ – the Quebec Order of Chartered Accountants – to discuss the upcoming Fall Accounting Recruitment it struck me how much students have to accomplish in such a short period of time. You are back on campus to start school on September 1st – and before you have a chance to settle back into study mode you are suddenly attending numerous accounting events: from firm tours to CACEE and Interview workshops to the big event – the cocktail where you will get to meet and hopefully impress the recruiters of the various firms recruiting on campus. Oh, did I forget to mention you then have to write a CACEE form for each firm you are applying to and submit all of your applications by the third week of September?

I hope I haven’t frightened you; you probably knew all of this already, right? You must be wondering “How do I manage all of this and do well?” There are a few keys to success, which I will detail below:

1. Start early – Prepare your CACEE applications as soon as possible. It takes time to complete them. Ensure they are impeccable, well-written, error-free and interesting!

2. Know yourself and what makes you stand out – The most successful candidates will be able to demonstrate their key strengths, areas of interests, values and business skills. What makes you the ideal candidate and why do you wish to pursue a career as a CA? You must be able to address this in your CACEE form and when speaking to recruiters.

3. Know the differences between the firms you are applying to - Think they are all the same? Think again. By attending the recruitment events you will get to know company representatives (from their human resources department, partners, and accountants) in a setting less formal than an interview. It will give you the opportunity to acquaint yourself with the corporate culture and other distinguishing features of each firm. You will learn what they have to offer and find out which firms interest you most.

4. Think twice about recruiting for the Big 4 only - Don’t discount the medium sized firms. All firms have something valuable to offer - do your research.

5. GPA : How much does it matter? - Not all students hired in the past have had a 3.5 + GPA; however, a strong GPA is an indicator of success to enter the CA Program. Do keep in mind that recruiters are looking for the well-rounded individual who not only does well in school, but has a variety of interests and gets involved from extracurricular activities to volunteering, hobbies, and more!

6. Firms request a listing of all students signed up to attend their recruitment events - They prepare name tags and take attendance. It is not professional to be a ‘no show’ and it is your duty to abide by Career Services’ Code of Conduct.

7. Network and get to know the recruiters and staff at the various events you will attend - This is your opportunity to make a good impression, show your interest in the firm and build rapport with some of the people who may be the ones interviewing you later on!

Career Services is here to help you during recruitment and year round – we offer workshops, CACEE review drop-in periods, one-on-one interview preps as well as numerous resources in our brand new Career Resources Portal available in September! ■

Career Services, Desautels Faculty of Management1001 Sherbrooke Street West, Room 650

Montreal, Quebec

Tel.: 514-398-2996Fax: 514-398-2721

[email protected]


mailto:Careercentre.mgmt%40mcgill.ca

mailto:Careercentre.mgmt%40mcgill.ca


Where are you from?

I was born in Israel. I did my accounting undergraduate studies there, and [also my] CPA there.

Describe your academic journey and how you chose accounting.

I received my bachelor’s degree at Tel Aviv University with a major in accounting and economics. I later got my MBA from Washington University. My Ph.D. is from University of California, Berkeley.

I chose accounting because I wanted a career in which I could use my analytical and critical thinking skills. I found that few fields in business offered as many job opportunities as accounting. I believe it to be a great misconception that accounting is limited to just auditing. Many seem to have a narrow view of the possibilities one has upon receiving an accounting degree; there are positions available at the government level, as tax authorities, or in corporations as comptrollers.

Tell us about your career path. Where else did you work other than teach at McGill?

After my undergraduate studies, I worked for an auditing firm for 2 years, followed by work in industry as a comptroller for 5.5 years.

After my MBA, I worked for 3.5 years at Intel Corporation in Phoenix, Arizona.

Can you give any advice for students going into recruitment this fall concerning: possible strategies, CACEE writing, and interviews?

In order to be successful, you need to be prepared to the interviews. The best thing is to talk to students that just been to recruiting in recent years. They are up-to-date on the process, and can share their experience. In addition, have some vision for yourself in mind. You should have an idea of what you want to do, what are your strengths and weaknesses, so both you and the recruiter can get a sense of whether there is a good match or not. In the interview, try to behave professionally, but at the same time, try to bring forward your specific personality.

Do you have any advice towards out-of province and international students, knowing that French is a big asset in the Montreal job market?

If you are interested in career in Quebec, make sure to take few French classes, so you have the basics. Also, make sure to demonstrate a positive attitude towards working in French.

In your opinion, how can students make the right choice when choosing what designation they want to pursue? (CA, CMA, CGA).

Of course. This requires doing some research and talking to people, but if they do all those things, they can have a good idea on the different options, so they can make a smart choice.

After many years of experience, when you look back, would you do anything differently (academically or in your career path)?

Of course, when you look back you notice that not all that you did was perfect. However, I would not do things drastically differently. ■

Professor Zvi Singer is a well-known Desautels Accounting Professor, but familiar to us BCom undergrads as our Intermediate Accounting II professor. He shares his experiences below:

Q&AAn interview with Accounting Professor Zvi Singer © McGill




MAKING AN IMPRESSIONby Carla Mae Mamangun

What is our goal? Of course it is to be selected as an intern or full-time employee of one of the accounting firms, and so it is important not to leave preparations for firm tours and cocktails last minute. There are several simple yet essential steps to follow in order to leave a positive and memorable impression.

Dress Code How you present yourself physically is an important factor to consider during fall’s recruitment period. You must be cautious of what you wear, keeping in mind that following appropriate dress codes will leave a memorable impression. Business suits are always acceptable for both men and women. The latter should also consider skirts, blouses and work dresses. When it comes to footwear, it is best to choose classic styles in basic colours. For women, it is advisable not to wear sandals and open-toed shoes or anything with a loud design. You must also make sure that your shoes are clean and do not need polishing. Most importantly, you must be comfortable with what you wear because you will feel more confident, making the recruitment process a much better experience.

Meeting Representatives Networking during the numerous events will help students sell themselves to the many firm representatives looking for ideal candidates. Greeting representatives properly with a firm handshake and making eye contact will help make a good impression. You must make sure that you are neither too shy nor too assertive. Making conversation by asking questions and sharing stories of past experiences is always a good way to make firms notice you in a positive light. Moreover, do not spend too much time with one representative alone. There are other representatives from different firms who are more than willing to get to know you as well. When joining a group, you must make yourself visible to the representatives, but there is a fine line between joining a conversation and interrupting one. Whilst meeting as many representatives is crucial, you must let other students do the same.

In order to meet interested accounting students, firms will set up firm tours and seminars during the month of September. It is important to attend these events in order for you to assess different tours better and also to gain exposure. Remember to ask pertinent questions during firm tours and cocktails. Doing so will not only showcase your interest in the firm and also in the accounting profession, but will also let you assess whether or not the firm’s culture matches your beliefs. You will leave a lasting impression on firm representatives if your questions reflect your confidence and enthusiasm. Note that simply asking questions is not enough. Some questions are easily answered by a firm’s official website or business articles. Questions that pertain to a firm’s culture on the other hand will help you decide whether or not you make a perfect fit with a firm.

Additional Notes Here are some additional tips to make a lasting impression. Be punctual. Make sure that you do not arrive late for firm tours and other events. Also, you must remember the names of representatives. It is not only embarrassing to call someone the wrong name, it also shows that you are not attentive during meetings with the firms. Moreover, watch the language you use with representatives. You must sound professional with just the right tone of voice, omitting the use of informal words. Collecting business cards will also help you send appropriate thank you notes. Such notes will help representatives remember you. Although you want to impress the representatives, do not forget to simply be yourself. It will be a lot easier for you to connect with them if you are not being pretentious. With the stress and hectic schedules in September, do not forget to manage your time properly and to enjoy the process. ■

๏ Dress appropriately.๏ Keep track of important dates: firm tours, seminars, MAS Cocktail.๏ Don’t be late.๏ Ask questions, listen, and learn.

© Flickr, lianghuinfo

Things to Remember:




CACEE-WRITING 101by Samuel Holden

Writing may not be your greatest strength, but with these tips in mind, you will be able

to write a fantastic and compelling Canadian Association of Career Educators and Employers (CACEE) form. Remember that the CACEE form lets employers evaluate your potential.

Large accounting firms can get upwards of one thousand internship applications in a given recruitment season. Due to the exorbitant amount of time and effort that gets put into reviewing all of these applications, the CACEE form was created. It effectively levels the playing field for students from different universities – applying in different languages – and manages to ease some of the complications related to evaluating all of thee students.

What is important to realize about the CACEE form is that it is a great opportunity for the potential intern. Not only can it can prove an applicant’s communication skills, but it is also the most efficient way to let a firm know what a specific intern is all about.

Be fore l ook ing a t a template that may be able to inspire you in your own writing process, it seems relevant to talk about time management for a minute. Many great candidates for an internship blew their chances as a result of going to too many firm events and not spending enough time on their application itself. Yes, networking is very important, but it is essential to remember that in a pool of one thousand applications, the CACEE form is the only tangible source of

information that recruiters have on you. It can get an applicant an interview on its own merit and it can be the sole reason for rejecting an otherwise very qualified individual.

The Little Things

The first part of the CACEE form is straightforward to fill out

b e c a u s e i t i s c o m p r i s e d o f

information about you, such as your full name, GPA, and the name of firm

you are applying to. You should be cautious, however, of spelling

mistakes or factual errors that may

decrease your chance of getting an interview. Ensure that you have filled

out every line that applies to you and that the information you have given

is up to date.

Next Sections

The next three sections are

important as well so you should be clear about the information you

provide. These sections are made up

of Education, Extracurricular, and Work Experience. In the Education

section, you should mention skills

that are relevant to the position, but

be precise. Avoid writing long sentences, but instead, you should

use bullet points in order to be concise.

Moving on to the next part of the CACEE form, include your

working experiences, from paid positions to other job titles that were

not compensated. You should use

action verbs when beginning to describe your responsibilities and

remember to highlight skills that have acquired. You are not obligated

to fill out all the reserved space, but

make sure that you have enough there to showcase your capabilities.

Last But Not The Least

The last page of the CACEE

form consists of the summary, where

you have the chance to provide further information about yourself.

You should keep this part well

structured in order to properly and effectively “sell” yourself to the firms.

Again, make sure that you made no errors.

©Flickr, jjpacres


© Flickr, amirkuckovic


CACEE Summary Example

• Demonstrate your suitability for position(s) sought by outlining your career objectives and elaborating on the factual material already presented. S h o w h o w y o u r e x p e r i e n c e ( e d u c a t i o n a l , extracurricular and work) is relevant to the position(s), organization, and/or field of work for which you are applying.

“Despite being only 20 years old, I have traveled a long path to arrive at this point. I want to be a chartered accountant. Academically, I have studied science and liberal arts and am now enrolled in business courses. Studying in the sciences, I learned to be attentive to details and precise in my work. While I liked the subject, it lacked a people side that I needed. So, I entered the Liberal Arts program at Dawson College in Cegep. This program emphasized clear and concise expression, which have become strengths of mine. I thrived in this environment, but somehow I missed the objectivity of mathematics and numbers. For this reason, I decided to take the math prerequisites and apply to business school in university. Quickly, I realized that I had found a niche. The McGill management community welcomed me with open arms and I found my true calling: accountancy. This is a profession that satisfies my need to work with people and also my aptitude for working with numbers. It also plays to my strengths, as clarity of expression – both written and spoken – is essential for high quality accountancy work.”

• Name the firm in this paragraph and talk about what you learned from specific people you met at the firm or MAS events.

• Then, talk about your skills while relating them to the firm’s needs:

“I possess the interpersonal skills, the dependability and the ability to think on my feet necessary to thrive on the job. My involvement within the McGill community is a testament to my soft skills, as I frequently work with others to achieve a common goal. In organizing intramural sports for the management undergraduate society, I often need to unite two or more groups of students interested in playing a common sport to get them to form a team. It is not always a simple task to attract enough interest, but this semester, no less than seven MUS teams are registered to play four different sports in McGill intramurals.

“My experience writing for the Bull & Bear newspaper in the faculty of management also shows my dependability. It is not always easy to juggle researching and writing my articles with my classes and other extracurricular activities, but I would never miss a deadline. It simply would not be fair to my editor or to the rest of the team.”

• Add another note about why you would be perfect for a specific firm. Perhaps add a detail or two about the firm in question and how your skills relate to what the firm is doing.

• Talk about your ability to attain the CA designation. Why should no one worry about your academic abilities?

• Conclusion – Be sure to reiterate your interest in a specific accounting firm and be unforgettable.

To all those entering this very exciting time, I wish you the best of luck, much success and one final piece of advice: have fun with it! This may well be the only recruitment process you will ever have to go through. ■

Additional Points:๏ Visit http://masonline.info/recruitment.php to download blank and sample CACEE forms.

๏ Make sure you have enough time to fill out and customise your CACEE forms accordingly.

๏ Check MyFuture often in order to sign up for firm tours, CACEE seminars held by various firms. Sign up is mandatory.

๏ You will submit your CACEE forms to firms electronically so make sure that you have the right e-mail addresses or website links.

๏ If you are applying to firms in another province, make sure that you have the right deadlines and requirements as the process differs here in Montreal.

๏ Career Services will also host a CACEE drop-off service so if you are in need with your application form, check the dates for the drop-off service.


http://masonline.info/recruitment.php

http://masonline.info/recruitment.php






Interviews: Preparation & Expectationsby Stephanie Chan Tim Hing

Now that you have gone through the first phase of recruitment with firm tours and the

MAS Cocktail, it is not over yet. The final step to obtain your summer internship or a full time position will determine whether or not you will get an offer. Although we hear the same things about interviews time and time again, there remains valuable advice that are often taken for granted. Here are nine simple tips that will guide and help you prepare for your upcoming interview(s).

1. Practice makes perfect. This tip is something that is always told and retold by many, but this step is often neglected. It might be wise for you to run through a few mock questions a day or two before your interview. You feel more confident and comfortable when answering questions by doing so. A word of caution, however, you must remember not to memorize any of your answers. Being natural is key.

2. Get to know the company. When coming into an interview, you should know the company pretty well. This w i l l a l s o h e l p y o u b e m o r e c o m f o r t a b l e w h e n a n s w e r i n g q u e s t i o n s b e c a u s e y o u h a v e famil iarized yourself with the interviewing firm.

3. A common mistake among interviewees is being overly confident or too aggressive. It is certainly important to sell yourself during this time, but it is equally important to stay humble and to not oversell yourself. Your tone will be a great indication of how you are

presenting yourself. Try practicing in front of a mirror or with friends to have a better idea of your style and how you interact.

4. Smile. Do not be nervous. After all this preparation, you should feel confident. You might even know your interviewer through the recruitment process. Remember though that it is important for you to be professional at all times with these people, even if you are familiar with them.

5. Watch your body language. The last thing you want to do is sit with your slouched back with your arms crossed across your chest. It is important to pay attention to these small details since they can make a big difference. You can also consider slightly leaning forward to show your interest, but do not do anything that would make you feel uncomfortable. You want to be na tura l and comfortable during an interview.

6. S t r a t e g i z e y o u r a n s w e r s . Remember that they must be S-M-A-R-T (specific, measurable, action-oriented, result-based and time bound). Think about telling a story when responding to a question so that you can provide an example of what you experienced. This will allow you to provide a well-thought and detailed answer.

7. Do not be afraid to pause and think about your answers during the interview. Breathe or take a sip of your water. If you are not sure of an answer, ask your interviewer if you could skip the question. If you do so, remember to go back to answer this question.

8. Prepare questions. At the end of an interview, the interviewer will probably open a question period for you to ask anything you want. Make sure that you do not ask questions that can be answered by browsing through their website or any other factual information that you should already know.

9. Have fun. At the end of the day, an interview is a stepping stone to your career. Rather than letting your nerves get the best of you, you should really savour this experience.

Good luck! ■

© Flickr, Susanne13 Things to Remember:

๏ Practice.Practice.Practice.๏ Get to know the company.๏ Be S-M-A-R-T.๏ Be professional.๏ Prepare relevant questions

to ask the interviewer.๏ Be yourself!




Where To Start Your Career?by Wilson Phan

© Flickr, Nubero

he accounting recruitment season is in full swing! Students in search of a position in accounting firms are scrambling from classes to firm tours and other recruitment-related events. With our schedule booked until the end of mid-terms, many of us make the mistake of getting caught in all the commotion and forget to sit down and evaluate our options. As a prospective Chartered Accountant, there are three types of accounting firms where we can start our careers. These are usually differentiated by their size: large, medium and small firms. Each of these types has their own advantages and disadvantages. Therefore it is important for students to make a decision that complements their career goals and ambitions.

Large-Sized FirmsAs many of you may already know, the large

firm category consists of The Big Four: Deloitte, Ernst&Young, KPMG, and PricewaterhouseCoopers. Additionally, there are several others such as BDO and Raymond Chabot Grant Thornton. These large international firms provide much more services than just Assurance. Most of these multinational firms have departments dedicated to Taxation and Consulting services. Due to the vast array of services offered by these large firms, you may find many professionals holding other designations other than a CA, such as CFA, CMA and CGA. Surrounding yourself with a diverse selection of individuals gives you an opportunity to build a strong network of professionals while working in a larger firm. In addition, the size of large accounting firms enable them to offer their employees numerous training opportunities to hone their technical skills and business acumen.

Furthermore, these large accounting firms tend to attract multinational clients from multiple industries, giving you the opportunity to travel while learning from your mandates. If one of your career goals is to have international work experience, these large firms have programs dedicated to send their professionals abroad from a couple of months to a few years to work in other offices around the world.

Nevertheless, there are disadvantages to working for larger accounting firms. Having larger clients also implies bigger mandates. Because of the size of the mandates, a junior associate’s responsibility will be constrained to only a small section of it. Exposure to other parts of a mandate will only come later on in your career.

Small-Sized FirmsIf having the opportunity to work with

business owners and decision makers early in your career interests you, then smaller accounting firms might be just right for you. At the smaller accounting firms, the environment will be more entrepreneurial as clients will mostly be start-ups and medium-sized companies. You will also be exposed to several sections of a mandate very early in your career, improving your overall well-roundedness as an accountant. Furthermore, working at a smaller firm provides more opportunities for advancement within the firm.

Since the clients of small-sized firms are regional businesses, there are fewer opportunities to travel. Furthermore, support departments, such as Information Technology and Human Resources, will not be as varied and as extensive as those in larger firms.

Thus, there are advantages and disadvantages to both larger and smaller firms. However, it is truly the type of the people in each firm that should be a deciding factor as to which type of firm you decide to join. Finding a firm that “fits” you best will make work much more pleasant and give you an extra drive to exceed yourself. ■

T

© Flickr, prsinc333




Differentiating The Designationsby William Phan

s future graduates, starting our professional careers at the end of a recession is a scary prospect. Fortunately as accounting students, there are three specialized designations that will help ease the transition from students to employees. All three professional designations available to accounting graduates, CA, CMA and CGA, have their own advantages. More importantly, each designation will open new and unique career opportunities. Deciding which accounting designation to pursue is an extremely critical decision, as each one requires a significant investment in time and effort. Thus, this article is designed to provide you with further insight as to which designation fits your goals and aspirations best.

A

Chartered Accountant ( CA )Chartered Accountants

are business professionals that perform a variety of financial services. Some of these services provided by CAs include auditing, preparation and analysis of financial i n f o r m a t i o n , r e v i e w i n g a n d developing internal controls as well as providing advisory services in taxation and in the purchase and sale of businesses.

CAs can work for a variety of employers. In fact, almost 40% of CAs work in the public practice performing key services such as audit, business valuation and insolvency and forensic investigation (CICA). The other 60% are either employed by the industry, the g o v e r n m e n t o r e d u c a t i o n a l institutions. CAs provide their services to companies in the industry by working in functions such as controllers, financial analysts and treasurers. Governments seek CAs to conduct financial planning and to work as tax auditors. Universities, for their part, employ CAs to teach students the necessary technical skills and ethics to succeed in the business world. Of course, CAs also utilize their vast technical skills and

business acumen earned through the rigorous training to build their own companies (CICA).

The road to becoming a CA in Quebec starts with the completion of an undergraduate degree in accounting in a recognized university. Afterwards, the candidate must enroll and complete a 16-month Professional Education Program of fered by Quebec universities (OCAQ). Following the completion of the program, the next crit ical step is to write and successfully complete the Uniform Evaluation (UFE). Once these three steps are completed, the candidate must now work in a training office recognized by the Ordre for a 24-month paid training period in order to consolidate all the previous knowledge acquired (OCAQ). Having successfully gone through all four steps, the candidate will have acquired the CA designation.

Certified Management Accountant (CMA)

Certified Management Accountants specialize in cost management, strategic performance measurement, process management and r isk management (CMA

Canada). CMAs are also known for their ability to analyze and organize information in a manner that optimizes business decision-making.

CMAs are highly sought after by professional service firms as well as in the industry where their ability to analyze information effectively is a valuable asset. In professional service firms, CMAs work as consultants who are equipped with proven analytical abilities.

To obtain the CMA designation, the candidate should complete an undergraduate degree in accountancy in a recognized university. Afterwards, the candidate must pass the four-hour CMA Entrance Examination designed to test the individual’s financial a c c o u n t i n g a n d m a n a g e r i a l a c c o u n t i n g k n o w l e d g e . T h e candidate then enters the Strategic Leadership Program (SLP) Phase 1, which consists of numerous case studies emphasizing strategic thinking and analysis. The Case e x a m i n a t i o n m u s t t h e n b e completed. The next step is the SLP Phase 2, which is a process that puts into practice problem-solving, decision-making, leadership, and teamwork. Finally, the last stage consists of a Report to the Board, where the candidate must present a w r i t t e n r e p o r t a n d a n o r a l presentation to a simulated Board of Directors which enables to put all



the skills acquired throughout the program into use. The candidate should complete all these stages while working full time for two years in a position related to the CMA designation.

Certified General Accountant (CGA)Certified General Accountants are accounting

specialists who have exceptional technical skills. They are equipped to offer a wide selection of services including: taxation, financial planning, financial management, budget planning and providing management control.

CGAs are also highly sought after by employers. The government, businesses and professional services firms seek their expertise, especially in taxation. The path to a CGA designation can be started immediately in the accounting undergraduate program. The applicant, however, must take specific set of courses that may be unique to the university. The candidate must

also complete 24 months of practical training before acquiring their professional designation.

Hopefully, you have gained further insight as to which designation may interest you best. As to deciding between which designation to pursue, it is best to ask yourself where you would like to be in the future and then select whichever designation will help you get there. ■

CHECK OUT:

CA: www.ocaq.qc.ca ◆ www.icao.on.ca

CMA: www.cma-canada.org

CGA:

www.cga-canada.org


http://www.ocaq.qc.ca

http://www.ocaq.qc.ca

http://www.icao.on.ca

http://www.icao.on.ca

http://www.cma-canada.org

http://www.cma-canada.org


Working Abroad: My Experience at KPMG Dubai by Zainab Suratwala

T his summer I had the opportunity to work in Dubai as a summer intern at KPMG; KPMG has a strong presence in the Middle East with around four offices within the United Arab Emirates itself.

Business in the UAE

The UAE does not have any income taxes and no corporate tax at the federal level. Therefore the tax department role is very different from the one you would find in Canada . As per UAE law, the financial statements need to have an Arabic version. The U.A.E is a Muslim country and according to Muslim laws, interest on loans is forbidden. Therefore, many companies have resulted in financing their business ventures through Islamic banking. While it is common in the western world to get a mortgage when purchasing a house, in Islamic banking however, the system is of a lessor and a lessee. The bank purchases the house and becomes a lessor and leases the house to its client. At the end of the lease term the bank promises to transfer the house to the lessee. Transactions like these often change the nature of certain key components of the financial statements.

KPMG Internship Program

The internship program at KPMG works on a rotational basis. The interns rotate through the various departments. It is often based on where your interests lay and what area you plan on specializing in. An intern spends on average a week and a half in each department. Each intern is assigned a mentor who helps guide the intern through the process. There is no formal training program for the interns. They learn depending on the client’s requirements, the mentor’s availability and the department’s area of expertise. This makes that every intern comes out with a unique, varied and customized experience at the end of the internship. KPMG’s audit department has been divided into sections such as ICE (Informations Communications and Entertainment) - with clients such as DU Telecom which is one of the two local communication provider and multinationals such as Samsung. Then there is the CIM department which audits consumer markets and companies like BMW and Nestle. And IGH deals with infrastructure, government and health, with clients like Al Habtoor the makers of the famous Burj Al Arab hotel. I also had the opportunity to work within advisory and see how KPMG’s IT advisory deals with securing internal information systems to protect them against hacking and fraud. The UAE market has not yet recognized the importance of data security and

KPMG’s IT advisory focuses greatly on raising awareness amongst its clients. The local culture and influence shape greatly the work environment of the firm. There is a high level of diversity within the office characterized by many different languages and working styles. It can be challenging to work within such diversity, yet the strong KPMG culture helps unify the employees and builds a very strong cohesive work environment. Co workers often communicate in languages such as Arabic and Urdu. The work hours are fairly long, even in the less busy summer months. Work usually begins at 8:30 and most people leave the office by 6:30 - 7:00, which makes up a 50 hour work week on average. The offices are closed on Friday and Saturday and work presumes on Sunday, which personally was strange since I am programmed to sleep in on a Sunday. A week of my internship was also during the holy month Ramadan. The work hours become three hours shorter than the rest of the year to help accommodate prayer times for those fasting.

It was an amazing experience overall I learned quite a bit about the audit profession and dealt with a magnitude of different clients. What I found the most striking was the unique mix of Arab and western cultures within the office. I would highly recommend pursuing international work experience for any career enthusiast. Stepping out of your element and working in a foreign environment can be daunting and you will be required to exert quite of bit of effort. Along with the work mandates, you also have to deal with the language barrier, and transportation issues since as auditor you are required to move around. Yet, the wealth of knowledge, ability to adapt in foreign situations and confidence you gain are worth the challenges. ■



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Down1. A loss in the utility of an asset due to the development of improved or superior equipment, but not due to physical deterioration.3. A measure of a company's earning power from ongoing operations, equal to earnings before deduction of interest payments and income taxes (2 wds).4. A record of a debit or credit transaction entered into an organization's accounting books (2 wds).8. The amount by which stated capital is reduced by distributions and losses.9. Equal to asset's book value minus depreciation and amortization (3 wds).11. The ongoing administrative expenses of a business which cannot be attributed to any specific business activity, but are still necessary for the business to function.14. Cost already incurred which cannot be recovered regardless of future events.

Across

2. Asset growth, by internal expansion or acquisition.5. The final bookkeeping entries made at the end of an accounting period to transfer income and expense items to the balance sheet accounts.6. An itemized forecast of an individual's or company's income and expenses expected for some period in the future.7. To charge an asset amount to expense or loss, in order to reduce the value of that asset and one's earnings (2 wds).10. Current assets - current liabilities (2 wds).12. revenues minus cost of sales, operating expenses, and taxes, over a given period of time.13. The cost associated with one additional unit of production. also called incremental cost.15. A small amount of cash kept on hand by a business for incidental expenses.16. A debt or equity investment that is purchased

with the sole intention of selling within a short period of time, typically less than a year (3 wds)

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