Life in corporate industry
Is being a CPA in industry
for you?
Would you like to be an integral part of an organization, shape its future and participate in its strategic decisions? Being a CPA in industry is all that! It is also an opportunity to work on a team and hold various functions that will help you grow professionally.
Remember that corporate finance and CPAs are vital to the economy and the business worldCPAs for
every type of job!
In industry, CPAs generally work in accounting and finance departments, which involve two main areas of expertise:
Management accounting
- Traditionally focused on internal needs
- Performing assessments and optimizing resources
- Providing support in making (operational or strategic) decisions and achieving goals
Financial accounting
- Traditionally focused on external needs (investors, creditors, regulators, etc.)
- Monitoring the company’s business activities
- Assessing an organization’s financial health
More specifically,
what does life in industry look like?
An extremely wide range of work! Here are some examples of the possibilities:
Consolidation and disclosure of financial information
Your detective skills come in handy here, as you carefully review and check the accuracy of
figures and prepare
periodic reports on the company's financial health.
Cash management
As a financial orchestra conductor, you coordinate cash inflows and outflows in an effort to
maintain a harmonious
balance in a company’s finances so that it is certain to have enough funds for its immediate
needs and upcoming
projects. As an observant strategist, you anticipate its cash flows and optimize its working
capital needs.
Budgets and forecasts
You are involved in financial planning and analysis, also known as FP&A, which means that you
act as a company’s
financial watchdog and help it strategically plan for the future. In this role, you not only
prepare budgets and
financial forecasts, but also participate in various projects aimed at supporting executive
management in its governance
efforts and organizational strategies.
Risk management
Like the captain of a ship navigating through troubled waters, you identify, assess and
reduce the potential hazards
to keep the company on a stable and safe course. You also analyze financial threats, design
risk management strategies,
and monitor indicators to ensure that the company is able to anticipate and avoid economic
storms before they occur.
Performance management and dashboard scorecards
Not having your hands on the steering wheel is one thing, but not knowing where you’re going is
quite another! Without
clear directions, how can an organization reach its goals? You must define indicators to improve
an organization’s
performance.
Performance improvement
Numbers are merely an extension of our actions. A thorough understanding of an organization’s
transactions will help
you correctly assess changes in costs and set up improvement processes.
Internal controls
Like an enforcement officer for operational and financial processes, you oversee and
implement policies to reduce
risks and ensure that financial and non-financial information is compliant.
Costing
A cost is more than just a number. By optimizing costs, you help maximize an organization’s
profitability.
Financing
As an architect of growth, you ensure that the company has the resources it needs to carry out
its plans, through
loans, share capital, grants or other funding methods. You prepare financing plans and negotiate
with investors to
ensure that the company has a sound and robust financial structure for the future.
Mergers and acquisitions
Mergers and acquisitions transform and unite entities to create synergy that increases the value
and competitiveness
of companies in the market. As an artisan of organizational growth, you determine the risk
factors, evaluate the assets
and structure transactions to orchestrate a seamless merger between companies and optimize
gains.
Taxation
A company’s tax department guides it through the various developments and changes in tax laws
and rules. As a CPA, you
analyze legislation, give advice on tax strategies, and check that filings are consistent
(income and other tax filings,
etc.), while reducing the company's tax burden as much as possible.
Information technology
Those who hold the knowledge have the power to change things. An in-depth understanding of
technology and data will
help you make effective use of the information and turn you into the hero of the month!
Specialist
or generalist?
Companies
in a multitude of sectors
Everyone needs a CPA on their team. Did you know that you can practice the profession in your sector of choice? There are positions for CPAs in a wide array of sectors. Find the one that suits your interests and allows you to have an impact on what really matters to you.
Discover the profiles of CPAs
in industry!
Did you know that?
It is possible to complete your 24-month CPA practical experience period in a company. This is an excellent way to experience life first-hand in industry!
Many CPAs start their own business or become consultants. Thanks to the management and accounting competencies they acquire and the CPA designation’s reputation in the business world, they have a huge head start!
As a CPA, you can sit on boards of directors. This is a wonderful way to give back to society according to your values!
It is not uncommon to meet CPAs who combine their designation with another, such as the CFA, CPHR, CISA or even F.Pl. designations. That way, they benefit from an additional professional credential!
Find out your profile
as a CPA in industry!
Nice!