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Table of contents

07 JMAS in a Nutshell

09 What is CPA?

10How do you get your CPA?

13Online CPA

14CPA Pathways

20The JMSB Advantage

23Mentorship Program

25 Case Writing Tips

29 Case Writing Rubric for Under-grads

30Tutorial Fever

32Course Coordination

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Opening Remarks

Before you get into this handbook, I would like to give you a welcome to JMSB (if you are just starting out) or congratulate you on making it through another year.

The John Molson Accounting Society Student Handbook is a great resource for accounting students at JMSB. As you will see, it outlines the CPA designation, requirements, and career paths as well as more helpful tips about academics and student life! I hope you find this handbook useful and carry what you have learned throughout your time in JMSB, because if you do it right, you will have a fantastic time here!

The John Molson Accounting Society is pleased to welcome you to the 2017-2018

Marco RossiVP Academic

Alexander SinoraDirector of Marketing

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Top from Left: Alexander Sinora, Marco Rossi, Bryan Kwong, Mazri Hafiz, Tomas Cordoba, Jonathan Garofalo, Joseph Colombo

Bottom from Left: Hana Shin, Efeyenia Hatto, Catherine Morissette, Stephanie Di Bacco, Shira Benlolo, Chanelle Hasel, Danica Sanchez, Alexane Dubois

JMAS 2017-2018Executive Team

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JMAS In a Nutshell

What is JMAS?The John Molson Accounting So-ciety (JMAS) is a student run asso-ciation operating as a subsidiary of the Commerce and Administration Students’ Association (CASA) of the John Molson School of Business (JMSB). As one of the oldest associ-ations in JMSB, we have the honor to represent the major specific student base that is the account-ing student body. As a team, our mission is to enhance the overall university experience of accounting students by providing opportunities to bridge the gap between L’Or-dre des Comptables Profession-nels Agreés du Québec (OCPAQ), accounting professionals, faculty members and their colleagues.

Who are We?The 2017-2018 team is composed of 15 undergraduate JMSB students from all walks of life, with various personal interests and at different stages of their undergraduate degree. Some of our members are closing in on graduation, some are just beginning their account-ing courses, some are interested in pur-suing careers in public accounting, oth-ers are interested in tax or finance. We believe that this diversity is our strength because we can relate to all types of students and can help in all manners of students issues. while each of us is at a different stage in our undergraduate studies, with varying areas of interest, we all have one thing in common: work-ing to make the most enriching univer-sity experience of all students.

What do We Do?Our main priority is to bring as many opportunities as possible to the student body. We accomplish this by organizing quality events such as:

• - Our annual recruitment cocktail is the highlight of the year, with over 600 stu-dents and company representatives networking together.

• - We provide free tutorials for 4 accounting classes (ACCO 320, 330, 340 & 440) to help students excel in the classroom.

• - A recent addition to our list of events is our accounting conference where students can listen to accomplished CPA’s speak about their career paths and connect with professionals in the field.

• - Our largest single event, Concordia students can get their taxes done by us for free!

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SUIT UP FOR SUCCESS

The dynamic working environment at PSB Boisjoli is tailored to people with ambition who are driven by a desire for professional growth.

Our firm not only provides its members with exciting professional development and advancement opportunities in accounting, auditing, taxation, finance and management consulting, but it also encourages them to maintain a healthy work-life balance.

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AccountingAt a Glance

Why Choose Accounting?

Brief History Of AccountingAn important milestone was reached by the Office des Professions in 2011. The three previous accounting designation (CA, CMA, CGA) were unified into one designation; the Chartered Professional Accountant (CPA). Taking the best of all three past designations, the CPA program helps to create a more well-rounded professional.

Accounting is for introverts who are only good at math… MYTH!Technology is eating up the accounting profession… MYTH!The accounting field is dominated only by monotonous males… MYTH!

There are many myths concerning the accounting profession. The truth is that accounting is one of the key functions to any business!

The major purpose of accounting is to provide relevant and representa-tionally faithful information to stakeholders of an entity – both public and private. The information provided by accountants is crucial to the success of our society’s economy; from tax returns to the financial reports that investors depend on, the accounting profession is a public service.

Additionally, accountants develop the strategic problem solving skills that are valued in any organisation. These skills coupled with the technical knowledge can open many doors in an organisation; from management to finance(investing). Ask any CPA about the importance of accounting, they will tell you it is the backbone of every business.

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Undergraduate Requirements

The first step in anyone’s pursuit to obtain a CPA designation at JMSB is completing a bachelor degree with a minimum GPA of 3.0/4.3. Any student whose primary language is not English must write a proficiency examination (TOEFL iBT) if not exempted.* Provided below is a list of 9 prerequisite courses that require a minimum grade of B- for admission Applicants may repeat the courses to obtain the required minimum letter grade of B-. Courses completed more than 5 years ago may have to be retaken. It is important to note that students who have the fewest number of repeated courses have a stronger chance for admission, given they meet all the academic requirements.

Course Admission Requirements

ACCO 310 - Financial Reporting I ACCO 320 - Financial Reporting II ACCO 330 - Cost and Management AccountingACCO 340 - Income Taxation in Canada ACCO 360 - Principles of Auditing**ACCO 420 - Financial Reporting III***ACCO 435 - Integrative Management Accounting CasesACCO 440 - Advanced Taxation ACCO 465 - Advanced Assurance Services*These are the requirements for JMSB’s CPA program, see the The CPA Program section for the requirement of other CPA programs.

** Students who have completed ACCO 450 (with minimum B- grade) are not required to complete ACCO 360

***Students who have completed ACCO 420 (with minimum B- grade) before FALL 2017 will be obliged to complete ACCO 425 (with the minimum B- grade)

List of additional Prerequisites for non-business students (for student without BCOMM)

COMM 215 - Business StatisticsCOMM 217 - Financial AccountingCOMM 305 - Managerial AccountingCOMM 226 - Business Technology ManagementCOMM 308 - Introduction to FinanceCOMM 315 - Business Law and EthicsCOMM 401 - Strategy and CompetitionECON 201 - Intro to MicroeconomicsECON 203 - Intro to Macroeconomics

*+These courses no longer require the minimum B- grade

How do you get your CPA?Accounting in the Undergrad

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Planning for success in your Undergrad

While personal study habits contribute to success in school, planning is a key factor. Creating an effective schedule and ensuring that you have a manageable workload can really reduce the stress during a 13 week semes-ter. Not all classes are the same! Your BComm in Accountancy will consist of computational classes (math-based) and theory classes (memorization). Creating a balanced schedule is the key to success.

The following lists separate the math-based courses from the theory courses:

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How to build yourSchedule

As a general rule of thumb, math-based courses should be paired with theory-oriented classes. This lends to the

2/2/1 rule: Every class will pose a challenge to students while melding theory and practice.

2/2/1 rule: 2 theory courses 2 practical courses 1 elective *considering a 5 course semester

Keep in mind, though, that “easy” classes do not exist at the university level.

Overall, planning a proper schedule is imperative to your success and peace of mind during every academic semester. Consider the following flow

charts, outlining the relationship between the courses required for CPA.

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Together, everything is within reach.

What impact will you make?deloitte.ca/campus

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CPA Pathways COMM Classes

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ACCO Classes

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The following are sample schedules which will be helpful to give you an idea of how to schedule your courses. The schedules are examples. They are not for everyone and do not need to be followed. You will make adjustments to your schedule based on life factors. Courses can be changed to allow for possible work terms, vacations, etc according to your specific needs. For further information concerning course planning, be sure to contact:

Sample Schedules

Marco Rossi / VP Academicmarco.rossi@jmas.ca

example #1

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example #2

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example #3

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Campus Services

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Campus Services

H e r e t o h e l p

Birks Student Service Centre:

If you have a school-related problem that needs to be solved, Birks will help you find answers and connect you to the people on campus who can help. Birks can help you need to get an ID card, pay your tuition fees and request official transcripts among other services.

Location: LB - 185, 1500 de Mai-sonneuve W.Phone: 514-848-2424, ext. 2668

Exams Office

We all want our exam periods to go smoothly but it's not always the case. If you have exam time conflicts, exams that land on religious holidays, or are unable to write your final for medical reasons, contact the Exams Office to submit the appropriate request forms.

Location: 1550 De Maisonneuve Blvd. West, GM Building, Room GM-210.00Phone: 514-848-2424, ext. 2676, 2609 or 2608

JMSB Undergraduate Student Affairs Offices:

The Undergraduate office handles student advising, admissions infor-mation, transfer of majors and all other types of student inquiries.

Location: MB 4.201Phone: 514-848-2424, ext. 2721

CPA department:

The CPA department is the best place to get any information on the CPA program offered at JMSB. If you have any questions on the graduate program don’t hesitate to visit their advisor during drop-in hours. (usual-ly from 2-4pm but hours may vary)

Location: MB 14.155Phone: 514-848- 2424, ext. 7344Email: gradacco.jmsb@concordia.ca

Concordia and JMSB have numerous student services centres on cam-pus to help students achieve success. Whether you need help un-derstanding a topic in one of your classes, building a resume or just need to print a document, you’ll need to know about these places.

Evolution of Excellence

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The JMSB AdvantageLearning Support

JMAS Tutorials

As part of an initiative to increase the academic enthusiasm of ac-counting students, the John Molson Accounting Society offers FREE tutorials for the following:

JMSB Tutorials

JMSB offers free tutorials for all the computational comm classes. These tutorials have a similar format as the JMAS tutorials and are free! Make sure to check your moodle portal for course materials, tutorial documents and tutorial schedules.

Concordia Tutorials

Concordia’s downtown campus also offers free individual tutorials for math courses and COMM 215, 217 & 305. Located in SGW H-460. For more information, visit

https://www.concordia.ca/students/success/learning-support/math-en-gineering-help.html

Student Success Centre

Located on SGW campus in room H-440, The student success centre is a one-stop shop to get the help you need for almost everything school-related. You can find guid-ance on getting a career, improving writing skills, mentorship programs, campus tours and much much more.SGW: (514) 848-2424, ext. 3921SGW: H-440

These tutorials, held once per week, will complement the lec-tures provided by instructors. The learning goals of these sessions will be complement those of the course lecturers. The tutorial location and time blocks will be posted at the open of the semester. For further infor-mation concerning tutorials be sure to contact

Marco Rossi, Vice President of Academic Affairs atmarco.rossi@jmas.ca.

ACCO 320financial reporting II

ACC0 330cost management

accounting

ACC0 340advanced Taxation

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Career Planning and Development Centres

Career Management Service (CMS)

An amazing resource for all students. CMS helps you land a job in every which way from filling out a CACEE form, writing your CV and cover letter to how to interview! CMS also has a job board that can help you land that summer internship. Register for inter-esting event/workshops on connexions.concordia.ca… you won’t regret it!

Phone: 514-848-2424, ext. 4245e-mail: careers@jmsb.concordia.ca

COOP

An excellent program that allows you to get paid on the job experi-ence! If you want to be part of the program, you can transfer in as a university student if you have 60 or more credits remaining to complete your bachelor and you have over a 3.00 GPA.

For more information contact JMSB Co-op programs at 514-848-2424 ext 4117 or by email at coop.jmsb@concordia.ca

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IT services + Health & Wellness

CASA Computer Labs

Located in Molson building, room S1.465, this computer lab offer affordable printing services for JMSB students. You might not use it everyday, but when you need to print a proj-ect in a hurry, it’s the best!

Office 365 for free

As a concordia student, you are entitled to use OFFICE 365 for free! you can do so by signing into myconcor-dia.ca, clicking on Accounts & Settings, then Office 365 student e-mail. Once your email account has been successfully activated, you can access the Office 365 login page using the following login credentials:Enter your_netname@live.concordia.ca on the main login pageYou will be redirected to the Concordia-specific login screenEnter your netname and password (same as the My-Concordia portal) to log in. Note: The email account can be activated from within the MyConcordia portal and the creation process takes 2 business days to complete. Your email address will follow the standard format: firstname.lastname@mail.concordia.ca

Access Centre for Students with Disabilities (ACSD)

Concordia supports students with a variety of disability condi-tions through ACSD. Examples include vision, mobility, learning disorder. Please contact ACSD to find out more on how they can help.

Phone: 514-848-2424 ext. 3525 Email: acsdinfo@concordia.ca.

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The CPA Program

Common Core Modules

The beginning of the pro-gram is comprised of two common core modules which all students in the CPA pro-gram must take. These mod-els integrate the following core competencies:(A) Financial Reporting, (B) Strategy and Governance, (C) Management Accounting, (D) Audit and Assurance,(E) FinanceF) Taxation.

Elective Modules

Students have the opportu-nity to further develop skills in an area of deeper interest by choosing two elective modules. Candidates choose any two modules among the following four options: (A) Assurance, (B) Performance Management, (C) Tax, and (D) Finance. Students wanting to pursue a career in public ac-counting must choose assur-ance and tax.

Capstone Integrative Module

This module focuses on the development of competen-cies such as leadership and professional skills and inte-grates all previous competen-cies. In this module, students will create a business report and present it to a board of directors for evaluation.

Capstone Examination Preparation Module

This module focuses on pre-paring students for entry into the profession by requiring them to complete complex and highly integrative cases. It is a course that serves as preparation for the final com-mon CPA examination. It is for this reason it immediately precedes the exam.

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Where !?

Online CPA

The CPA education program delivered by The Order is now of-fered through distance learning on a part time basis. The minimum grade point average for this program is 2.8/4.3. The list of prerequisites are listed here, must have a B- average over all the prerequisites.PROS: flexible, work-study-life balanceCON: Study alone

McGill Desautel

McGill’s full-time CPA program is offered by the Desautels Faculty of Management. Pre-requisites: same as JMSB’s CPA program + FINA 385 or FINA 395 McGill requires a minimum CGPA requirement of 3.0/4.0** As such, your GPA, which is on a 4.3 scale, will be reconciled when they are reviewing your application.**Mcgill has a part-time option at the center of continuing educa-tion

Concordia JMSB CPA program

The requirements are listed in the Accounting at the Undergrad section. Full-time: must complete in 2 years (6 terms) Part-time: Must complete in 4 years (12 terms)

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The Common Final Examination

The Common Final Examina-tion (CFE) is compulsory for all candidates for the practice of the profession. It is held si-multaneously in all Canadian provinces. To be authorized to write the CFE, all candi-dates must have successfully completed the CPA program deemed valid by the Order. If you do not sit for one of the two CFEs held after the end of your university graduate program, you must retake the Capstone 1 Module. This is why it is important to be timely in your CPA studies. A passing grade must be re-ceived on the CFE to receive the CPA designation.

Practical Experience

In addition to the com-pletion of the examina-tion, a future CPA is also required to gain practical experience. This provides students an opportuni-ty to work in a real life management and deci-sion-making context. This paid training period must last 24 months with an ac-credited accounting firm. The experience enables prospective accountants to develop the CPA com-petencies based on their interests. The period of practical experience may be completed on a full- or part-time basis, but in either case, must last 24 months.

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So you want to be a CPA ? How do I plan ahead?

Assuming you have not yet gotten your degree, I suggest you study ahead and learn as much as you possibly can from the courses you are taking, knowing that there will be more to learn later on.Everyone knows that that you need at least a B- in all your ACCO class-es (as well as a minimum GPA) to get into the JMSB program. That may be subject to changes but this is the case right now.Students are often tempted to immediately retake a class if they have not gotten their B-s. DO NOT DO THIS!! Once you pass a class, move on to the next one, and get your degree as quickly as possible. Once you have your degree you have options.If you have more than 2-3 redos, my guess is that you’re dead in the water, as far as getting into an accredited program. So, don’t keep spinning your wheels needlessly by retaking classes. I’ve seen students retake as many as 5 classes, only to end up feeling let down once they were denied entry into their proglasses as you like, but realize that if you end up retaking more than, say 2 classes you’re probably fighting a losing battle.

What is the right path for me?

Should I pursue the online program or apply to JMSB?This depends on your preferences among many other factors. To start with, this will be a non-issue for many students who either do not want to retake classes because their GPAs are too low or have too many classes to retake. The online program will pretty much be their only choice.If that’s not the case, all I can suggest is doing your homework ahead of time, by talking to classmates and so forth. What may be right for you may not be right for someone else.One advantage to the online program is that the modules are 8 weeks along, whereas a semester is 13 weeks long. Thus, you can have a little more down-time between modules than say between the Fall and Winter semesters.

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On the other hand, a university program will provide you with more in-class instruction than would the online program. Also, a university program gives you university credits which you can put towards a graduate degree such as an MBA.

Again, stay informed. Find out as much as you can by asking around. Weigh the pros and cons and make an informed decision based on your personal preferences. Remember, your GPA and the number of courses you would have to redo will be a limiting factor for many students. If you have a 2.8 GPA and 3 potential re-dos’, I would be that you would be denied admission into any university program, but of course, I am only guessing.

Tips and Planning Ahead for CPA School

I’ll get to the point here. Don’t wait until the start of the semester or the start of a module to begin your studying. Be proactive. Try getting a copy of the course outline and/or materials from fellow students and begin your studies ahead of time. There are already several past CFE exam questions with marking keys posted on-line, so try those. Get a copy of some past UFE questions going back as far as say 2012. Work through those when you have some down time. It will make your life much easier later on.Last year, I wrote on article on how to properly write and debrief your cases, so I won’t get into that again here. Remember, just be disciplined and strive for constant improve-ment. Make every case response better than your last. Just work hard and stay positive. You’ll get there. Good luck!

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CPA Career Opportunity

Evidently, one of the main purposes of a tax accountant is to minimize the tax liability of its client. However, they are also responsible for ensur-ing that their clients comply with local and federal tax laws as well as inform them of any recent tax changes that can affect the function of the busines functions of the business.

TAXATION

While forensic accounting may not sound as trendy as other investigative work, the field has received much spotlight in recent years as a result of certain large finan-cial white-collar crimes. If analyzing accounting irreg-ularities is of interest to you, it might be worthwhile to consider this speciality field. To pursue a career in forensic accounting/fraud examining, students must successfully pass Certified Fraud Exam-ination exam, to achieve the CFE designation. Numerous programs such as, Diploma in Investigative & Forensic Ac-counting, Fraud Examination and Forensic Accounting exist across universities in Canada.

FORENSIC ACCOUNTING

Industry accounting:Do you like a stability? Is the work-life balance important to you? The working in industry could your best option!The industry life has many facets, from management ac-counting to internal auditing.

INDUSTRY ACCOUNTING

The purpose of accounting and financial reporting is to provide relevant and repre-sentationally faithful infor-mation to stakeholders and users. The goal of an auditor is to ensure that this informa-tion is free from error.

AUDIT

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Tutorial FeverMentorship ProgramIn early September, one of largest accounting events of the year is in full effect. Known as recruitment, this event entails many of Montreal’s accounting firms striving to recruit future accountants for both summer internships and full time staff positions. Recruit-ment can be quite hectic and often causes endless stress for many. Preparing for recruitment effectively could alleviate some of the burden. Among the many preparation techniques, the JMAS mentorship program is a tool to help students tackle the recruitment process. The John Molson Accounting Society wants to assist you in achiev-ing your highest potential. As a team, JMAS has selected several mentors to guide you and answer to any questions, comments or concerns you may have. The criterion for choosing mentors is stringent. They are well-rounded, academically successful students who have successfully been through the recruitment process. This makes the program an opportunity for students to learn from and relate to others. The John Molson Accounting Society will begin accepting appli-cants (both mentors and mentees) in the Winter semester. The purpose of this program, as mentioned, is to ensure students are well prepared for all facets of the recruitment process.

Whether it is advice about your CACEE form or recommendations about the appropriate attire for seminars and tours, mentors are available to assist you. We encourage you to meet with your men-tors outside JMAS events and email them with your questions.

A mentor can also offer professional advice to ensure you stay on the right path towards a successful ca-

reer. This program is a great opportunity to connect with other students and potentially build long-term

relationships.

190-8200 Boul. Decarie, Montréal, Québec, H4P 2P5 Phone: 514-933-8611 Fax : 514-933-1142

514-

We are a medium-sized professional practice where people work together

in an attempt to attain the highest standards of excellence. Our

environment is conducive to creating a camaraderie between our

personnel both in and out of the office. Our team attempts to provide our

clients with quality, timely and personalized services using the latest

technological tools available. Each of our members has the benefit of a

personal computer and software which provides them with the most

advanced tools to perform their tasks.

We offer training sessions in accounting, auditing techniques, taxation,

financial issues, the use of commercial computer programs, and in human

behaviour. We invite guest speakers and both staff and partners

participate in both lecturing and learning. This program of training is

complementary to the academic requirements of the Quebec Order of

Chartered Professional Accountants.

Socially, we celebrate Christmas, and conclusion of the tax season, and

enjoy our annual one-day summer picnic. These are opportunities to party

and have fun together and to enjoy socializing with our confreres in a non-

business environment. Traditionally, we close for the week of Christmas to

New Years so that all may enjoy the holidays with their families.

We offer advancement as quickly as one can cope with the added

responsibility. Salaries and performance are reviewed annually. Our

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A PARTNERSHIP OF CHARTERED PROFESSIONAL ACCOUNTANTS

JMAS IS PROUD TO BE SPONSORED BY