How do I Start an Accounting Career in Canada?

Like every career, Accounting requires specialized knowledge and skills to succeed. Studying accounting in Canada is a blend of education, practical skills and some certifications (not mandatory) to reach a successful career.  With the right qualifications and experience, students can find employment in various industries, including finance, business, and government. They can also pursue higher positions, such as chief financial officer or auditor. This blog will delve deeper into how to become an accountant or payroll administrator in Canada. 

Education:

To pursue a career in accounting, obtaining a diploma or degree in accounting or a related field from a reputable Canadian educational institution is recommended. It is advisable to choose a program accredited by professional accounting bodies like CPA Canada to enhance your qualifications and ensure you have the necessary skills and knowledge for success in the field. There are several opportunities available for accountants, from public accounting firms to government positions. With the right qualifications and experience, accountants can be successful in any of these roles. 

Certification:

‍After finishing an Accounting and Payroll Administration  Diploma program, one should strive to achieve professional accounting certification, such as the Chartered Professional Accountant (CPA) designation in Canada. This involves meeting specific educational criteria, successfully passing the CPA exams, and gaining practical work experience in the field certification demonstrating a high level of expertise and commitment to excellence in the accounting profession. 

Gain Practical Experience:

‍Complete the required practical experience component as mandated by the CPA certification program. This typically involves working under the supervision of a designated CPA and gaining relevant work experience in accounting.

Networking:

‍Build a strong professional network within the accounting industry in Canada. Attend networking events, join professional accounting associations, and connect with potential employers or mentors to enhance your career opportunities. Look for people on Linkedin with the same background and interests. Join relevant online groups and forums. Participate in discussions and share valuable insights.

Job Search:

‍Start your job search by looking for entry-level accounting positions, internships, or co-op opportunities. Update your resume and cover letter to highlight your education, skills, and any relevant accounting experience. This will help you grow more and let you reach a higher position. One can grab a managerial position by learning the basics and mastering entry-level positions. 

Continuous Learning:

Stay updated on accounting trends, regulations, and technologies by pursuing continuing education courses or certifications to enhance your skill set and stay competitive. There are so many online certifications available that students can do even while studying. This will help enhance their knowledge and skills. 

By following these aforementioned steps and actively engaging in the accounting community in Canada, you can pave the way for a successful accounting career in the country.

Job Outlook: Accounting Job Trends in Canada 2024 

Every year brings new job statistics and talking about finance and accounting jobs in Canada, the hiring managers are finding it hard to fill the positions with the right skill set. This means that the industry is growing and the demand for qualified professionals is high. With the proper qualifications and experience, you have a good chance of finding success in the accounting industry in Canada.  

Students can also gain valuable experience by working part-time or full-time in an accounting job while studying. Additionally, they can join professional organizations and networks to gain more exposure and develop their skills. According to the Canadian Occupational Projection System (COPS), between 2022 and 2031, there are projected to be a total of 88,000 job openings for Financial Auditors and Accountants due to expansion demand and replacement demand. In comparison, there are expected to be 79,800 job seekers entering the market including graduates, immigrants, and mobile workers. This shortfall between the number of job openings and job seekers indicates that the demand for Financial auditors and accountants will remain relatively stable during this period.

As job openings and job seekers are forecasted to be at similar levels over the 2022-2031 period, the equilibrium between labour supply and demand that has been observed in recent years is expected to continue. This suggests that individuals entering the job market as Financial auditors and accountants should have ample opportunities to find employment, as the demand for their skills aligns closely with the available supply of candidates.

Accounting and Payroll Administration Diploma at ABM College

ABM College offers a comprehensive diploma program that will prepare students to be job-ready for the accounting field. This program will provide students with the opportunity to develop skills and obtain the qualifications necessary to pursue a successful accounting career. The program provides students access to highly qualified instructors and a comprehensive curriculum. Additionally, the program provides students with access to career resources and networking events. Lastly, the program concludes with a practicum to provide students the chance to learn hands-on by working within the industry. 

Call us today to enquire about the Accounting program, or learn more about our other business programs. One of our admissions advisors will brief you about all your program options and the admissions process. Don’t wait, enrol now for the upcoming batch.