Introduction

03
04
04

Faculty & Student Feature

05
13

Feature Profile
06
06
07
08
13
14

Current Events & Industry News

16

Community Contributors
11

Community Contributors
Professional
Outlook
Team

© RUAS Professional Outlook | 11.09.2010

 Talisa Ngo - Professional Dev. Coordinator
Sohail Hafizi - Director of Finance
Fatima Seedat - Vice President
Shad Washington - President
Evon Senathipathy - Director of Education

Zak Benseddik - Director of Marketing

Mohamed Mohamedali Samantha Loboda
Competition Coordinator Competition Coordinator

Ahmad Abdalla Cuong Pham Nancy Sandhu Tiffany Williams 1 2

Director of IT First Year Rep Pro. Dev. Associate Dir. Admin/Liaison

Competition
Associates
Accounting Coordinator

1. Mike Mascrenhas
2. Vy Ngo
3. Ksenia Prokopienko
4. Alex Luu
Rob Curcio

5. Jarryd McKie
3 4 5 6. Shalini Varanasi 6 7
7. Pavi Sidhu
 SAVE THE DATE
November 2010
9 CGA Info Session
9 Alumni Gala
28 CA$H Competition

January 2011
18 CMA Info. Session

February 2011
10 ACHIEVE
23 Industry Night

March 2011
1 CA Info. Session
23 CA Night

For all
RUAS
Events &
Updates
Visit:
ruas.ca
fb.me/ruas575 :F
@raccounting :T
 Stan Zabolotsky, CMA Can-
didate I graduated with a
BComm – Accounting Specialist in
2009. I am currently in my sec-
ond and final year of the CMA
Strategic Leadership Program.
Siemens is a large multinational
company with 400,000 employees
and annual sales of ~$76 Billion.
Covering three major sectors - In-
dustry, Healthcare, and Energy -
Siemens is the only company in the
world that provides products and
services along the entire energy
Financial Controller – Siemens conversion chain. From the pro-
duction of oil and gas, to power
generation and the transmission and distribution of electrical energy,
Siemens has it covered and I work within their Energy Transmission
and Distribution division.
My first role at Siemens was Assistant Project Controller of a major
nuclear refurbishment project. My main responsibilities were report-
ing, forecasting, invoicing, and claims & change management. More
recently I have been involved with bid management, so I have been
constantly flying back and forth between Toronto and Calgary to
help manage and coordinate the submission of bids for major en-
ergy projects in Alberta. Within a year, I will likely become a Project
Controller or a Controller of a business unit in my division. In my
(so far) very short period of employment with Siemens, I have been
fortunate to be involved in so much, and my ability to succeed in
this highly demanding environment is largely attributable to embrac-
ing the CMA ideology.
In today’s dynamic business world, circumstances change very
quickly and companies expect their employees to be versatile and
adaptive to new ideas, roles, and responsibilities. This notion of
being able to “wear different hats” is the very essence of the CMA
designation, which is why I think it is a great program. It ap-
proaches accounting and business very pragmatically and thus deliv-
ers optimal value to candidates by moving beyond academic theory
to real value creation and execution.
If you are planning on pursuing a designation, please ensure that
you do your own research, and a great deal of it. Do not make a
decision based on the popularity of the particular option or because
your friends chose it. As commerce students you are trained to be
leaders, not followers. If you have already made a choice, ask your-
self why you chose that path. If the answer is something like
“because it will open doors for me in the future” then I suggest you
re-evaluate. When I get asked this question, I have much more to
say than that. Good luck with your career!
Greg Hood,
CMA NEI
manufactures a
wide range of
conventional
and corporate
class funds from
Northwest
Funds® and the
largest sustain-
able investing
funds family
from Ethical
Funds®.
As a Commerce
grad, I knew that
to really succeed
in business I
would require a competitive advantage. Having
several other friends and co-workers in the CMA
program, I saw first hand the success they were
achieving through the program, so it was an
easy sell to get me to pursue the CMA designa-
tion.
Having defined my career through workplace
efficiencies and improvements, the CMA pro-
gram was essential to this mindset. I have
worked for over 10 years on Bay St. for various
investment firms (AGF Funds, Citco, Canada
Life), but I also spent two years as a Controller
in the high growth, tech savvy world of SaaS
(Software as a Service). I have also been fortu-
nate enough to run Finance, Operations, IT,
Administration, Analysis and Customer Service
departments resulting in 8 years of management
experience. The CMA program put me on track
to handle such a diverse set of roles by giving
me a „big picture perspective‟ and a set of pro-
fessional competencies that went beyond my
university education.
During your career, you should ask yourself “Is
there a better way to do this?”. Question things
and look for answers that are sometimes be-
yond just the numbers. I challenge you to go
beyond number-crunching - to take a holistic
approach and drive value throughout the whole
company. Due to the unique nature of the CMA
program, I truly believe it is one of the reasons I
have been able to succeed.
I encourage anyone who is looking to add real
value to a company to eagerly pursue the CMA.
CMAs aren‟t just accountants, they are
innovative business professionals!
With their powerful combination
of accounting, management
and strategy, CMAs are developed to
be broad-based business and account-
ing professionals who bring a holistic
perspective to organizations. CMAs
create value across all areas of an or-
ganization (e.g. Accounting & Finance,
Marketing, Operations, HR, IT) and
work in practically every industry seg-
ment - they are the ultimate strategic
financial management professionals -
combining solid accounting & financial
expertise with critical strategic man-
agement skills to provide leadership,
innovation and an integrating perspec-
tive to organizational decision-making.
For a chance to win $100 in Ryer-
son’s next Quarterly Transcript
Evaluation Prize Draw go to
www.ruas.ca & search “transcript”
It‟s no surprise that CMAs enjoy flexi-
ble and rewarding careers in Canada
and around the world and are among
the top 5% of income earners in the
country. Employer surveys have also
shown that CMA is the designation of
choice for financial and general busi-
ness management positions where
strong accounting and financial knowl-
edge, blended with strong business
acumen, is what employers are looking
for to create possibilities in the com-
petitive global marketplace. Of the
50,000 CMA Canada members and
candidates around the globe, about
24,000 call Ontario home. Be sure to
visit www.cmaontario.org/
studentmembership to learn how you
can take advantage of valuable mem-
ber benefits, including the CMA Case
Competition, where you can experi-
ence a strategic management simula-
tion that is used to train executives at
many brand-name corporations.
CMA - the Evolution of a Business
Professional: Bridging Education to
Execution The process to become a
CMA is quite unique versus other ac-
counting designations. Overall, our to allow for more holistic competency
professional program and the related development and coverage of a wide
evaluation process is much more evo- range of business issues. Each IS
lutionary in nature following the natural takes place every couple
career progression of most graduating months where you come together with
students. Many graduates will start 20 - 25 aspiring CMAs and learn in a
their careers in a technical role and truly dynamic environment. In be-
then progress to roles where you are tween each IS you will have your
helping to support decision- hands full with a wide variety of valu-
making with more integrative think- able readings, assignments and Busi-
ing…and then ultimately be promoted ness Application Reports (BAR). The
to leadership roles (e.g. Manager, BAR assignments are a powerful
Controller, Director, VP, CFO, CEO) way for you to apply what you are
where you need to collaborate with learning to your own organization
others (often from different depart- and ensure that you are making real
ments) and integrate the strategic & world connections between the CMA
operational aspects of an organization. program content and your actual work
The CMA Professional Program sup- environment – thus bridging your
ports your career progression by de- education to real world execution.
veloping a powerful set of competen- And, as with all other “professional”
cies, thus, CMA candidates often pro- credentials, you need to complete a
gress to leadership roles faster and Practical Experience requirement – 24
with more confidence. months, in total, in roles that reflect the
CMA Competencies which you can
From an evaluation standpoint, we first find at www.becomeacma.com.
have a fundamental test of your techni-
cal skills in the CMA Entrance Mira Sirotic, CMA, is CMA Ontario‟s
Exam. Then, we test your integrative Regional Director of Marketing and
thinking and written communication Communications for GTA Universities -
skills in the CMA Case Exam. Fi- and she is our CMA Rep. at Ryerson
nally, we test your ability University.
to collaborate with a team while work-
ing on a complex and integrated busi- Mira joined CMA Ontario in Sept. 2007
ness case that tackles both strategic after working 10 years for Imperial Oil
and operational issues. You Limited. During her time at Imperial,
must prove that you can synthesize she held eight diverse roles in six dif-
both your technical knowledge and ferent business units. From process
your professional competencies of improvement, product costing and
problem-solving, decision-making, ef- capital budgeting to financial reporting
fective communication, strong ethics, & analysis, business reorganizations
teamwork, leadership, etc. in the and major systems implementations,
CMA Board Report. Each year, all
Mira has had many opportunities to
three evaluations are consistent across apply her broad set of CMA competen-
Canada. cies. Prior to IOL, Mira applied her
skills at HBC‟s Internal Audit Dept.,
“becomeacma.com” Manulife, and The McMichael Cana-
dian ArtCollection. Mira loves to share
Another thing that truly sets Canadian insights and information to help stu-
CMAs apart is the 2-year, part-time dents enjoy rewarding careers. She
Strategic Leadership Pro- welcomes any questions / comments
gram (SLP). For each of the six mod- regarding the dynamic CMA designa-
ules of the SLP, we will engage you tion. Please contact her at 416-482-
in an Interactive Session (IS) that will 5556 or msirotic@cmaontario.org or
involve role playing, simulations, cases visit www.cmaontario.org/
and group activities / discussions universitystudent.
Popular Myths about Post-Secondary Financial Aid leges across the province and can be used towards enrol-
The excitement and anticipation of the back-to-school sea- ment and courses in the CGA program of professional
son has come and gone as you settle in on campus. With studies – no applications required.”
textbook costs and added fees on the rise, some students
are often left choosing between groceries or their business Similar scholarships are available for students at the post-
lab manual for their upcoming lecture. With a little financial secondary level, some of which are automatically renew-
planning and research able. This means that as
these same students long as you maintain a re-
shouldn‟t have to quired average GPA you‟ll
make such radical continue to get it without
choices. even applying! So be sure to
take the time to research
A large number of options and opportunities
post-secondary stu- available to you at your post
dents today are not -secondary school of choice.
aware or they don‟t
take full advantage of I won’t get it, so there’s no
their options when it point! False – With this kind
comes to financial aid of philosophy on life you‟ll
opportunities for edu- miss the boat on a lot more
cation. There are few than just a scholarship. Why
times in one‟s life so negative? There are
where students are many different scholarships,
subject to “free awards, and bursaries avail-
money” – it‟s impor- able to post-secondary stu-
tant for students to fully understand what‟s available to dents every year. This year alone, the government pro-
them through annual scholarships, awards and bursaries. vided $81 million in additional financial support for college
and university students. The truth is that although funding
The economy is recovering but with tuition hikes continuing is rising, a lot of students still don‟t take advantage of finan-
to increase and students should take heed of financial as- cial opportunities available to them.
sistance programs; however, skepticism and apathy have
prevented many from taking full advantage of opportunities “In the past five years in Ontario we have seen unprece-
that may be available to them. dented amounts of money and policy changes which make
aid like the Ontario Student Assistance Program (OSAP)
The following is a list of popular scholarship myths, awards available to more students. Unfortunately, there is still a lot
and bursaries for post-secondary students and how they of inaccurate anecdotal information that is spread student
could be making you miss the boat on financial aid. to student,” said Frank Mensink, FCGA, chair, board of di-
rectors, CGA Ontario; executive dean, School of Business
It takes too much time! False – There is a huge miscon- and Hospitality, Conestoga College Institute of Technology
ception that the process of applying for financial aid can be and Advanced Learning. “Each year, we have dollars that
as lengthy as writing your PhD paper. The reality is that the go unspent because students do not apply and it needs to
majority of financial aid opportunities can take a small por- change.”
tion of your day to apply. After all, you can‟t just sign your
name and wait for the gravy train but a small amount of In some cases faculty departments are unable to award
time each day for about a week can set you up for major scholarships because no one applied. This is a result of
financial reward. In the first year, some institutions provide
lack of awareness and some of the myths seen here. When
automatic entrance scholarships for students that meet a
required average, and here‟s the best part, you don‟t even looking at applying for scholarships students should take a
have to apply! widespread approach. There‟s no harm in applying for
scholarships which you‟re on the boarder of qualifying for.
“The Award for Excellence offered by CGA Ontario is a You won‟t know unless you try and you can‟t be awarded
good example of financial aid that does not require applica- funds if you don‟t apply. Applying for financial aid is a proc-
tion,” said Liang Chen, FCGA, associate dean, University ess, but the odds could work in your favour. Isn‟t it worth a
of Toronto, Scarborough. “This financial award is presented
to top accounting students at 18 universities and 24 col- roll of the dice?
 Submit Your Content www.outlook.ruas.ca

Asad Sheikh is not part of RUAS, but rather a Student Volunteer Contributor to Professional Outlook. Bio: http://outlook.ruas.ca/author/asad/
Ever since my first day of Grade 11 Accounting class, I knew I wanted to become a CA,
although at the time I knew very little about what CA designation meant. For me, know-
ing from an early age I wanted to do my CA, now it was time to determine fit. Once I
met the PwC representatives on campus, I knew exactly where I belonged. Now, after
having spent a whole summer with PwC, I can proudly say that I am a part of the PwC
experience.

During my summer term, I had the opportunity to work in various industries of particular
interest to me, PwC is great in the allow me to get a wide variety of experiences without
having to specialize right away. This past summer I had the opportunity to work on various Not for Profit clients as well
as a large investment management client. As a summer intern, I had very little expectations at the beginning, but the
amount of trust and faith that PwC showed towards me was unbelievable. Through the various coaching programs at the
firm I always felt comfortable asking questions and learning the PwC approach. The best part of my work experience: I
had the chance to perform interim audit review of mutual funds from start to end for one of the largest financial institu-
tions in Canada.

However, at PwC, work is not the only priority; getting to know your peers, socializing, and playing Ultimate Frisbee and
Golf is also very important. This is why every other Friday, the firm had planned „Friday Sessions‟ for the interns. To
make a long story short, every other Friday, our work was to have the time of our lives. From the inter-firm Ultimate Fris-
bee tournament, to boot camp to Karaoke and salsa dancing, we did it all! It was moments like these, and the people at
the firm that made my internship experience so unforgettable. If I could turn back time, I would definitely do it all over
The Truth about CA Training Offices
The CA profession has long offered the best training in
public accounting practices. Large or small, CA students
working at a CA Firm are involved with external audit en-
gagements. Most of the work you do counts as chargeable
hours in assurance and taxation, which are required to get
your public accounting license. During your three years,
you‟ll audit a wide variety of companies, and learn about
each of them along the way. So working on external audits
is also a great way to figure out what type of industry ap-
peals to you.
Until recently, CAs could only meet the requirements of
their practical experience at these accounting firms. When
you consider over 60% of CAs are employed in industry,
government and education, we wanted to provide an ave-
nue for these future business leaders to have a place to
learn today. As a result, the profession now offers CA stu-
dents the option of getting their hands-on practical experi- To help students understand their options when looking for
ence by articling in leading business and government or- a job in a CA Training Office, we have prepared three short
ganizations and the non-audit practice areas of CA firms.
the Institute of Chartered Accountants of Ontario expects
the number CA Training Offices in industry and government
to more than triple, so that more than 400 CA students will
be in these jobs by the year 2015.
CA Training Offices in the corporate and public sectors are
guaranteed to provide you with exposure to various areas
of the organization. That means, by the time you‟re a CA,
you‟ll understand the company‟s operations and you‟ll know
which department you‟d like to end up working for full-time.
The organizations have a vested interest to get a person-
ally trained CA who‟s ready to help run things, while being
groomed for leadership. As a result, the Institute works
closely with these organizations to customize a pre-
approved career path(s) for CA students that align with the
company‟s vision while also meeting the professions strict
criteria.
videos:

These “expanded experience opportunities” have been Exploring the different types of CA Training Offices
growing in popularity, both from the organizations seeking www.guidetorulingtheworld.ca/WorkExperience
approval to train CA students and students interested in For more information, please contact guidetorulingthe-
training outside of external audit. In fact, within five years, world@icao.on.ca
Evon Senathipathy - Director of Education
WHAT'S THIS
CRAZY LOOK-
ING BLACK
BOX?
It's called a QR
Code and it tells
your Smartphone
what web page to
visit. You can
download a QR
Code reader for
free at sites like
neoread.com or
scanlife.com