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The Executive- Issue 3

The Executive- Issue 3

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Published by Harpreet Singh
The Executive- Issue 3
The Executive- Issue 3

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Published by: Harpreet Singh on Mar 03, 2013
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09/18/2013

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Interested in Accounting? Finance? Business?

ll Recruitment Fa
COMING IN FEB/MARCH 2013

Get Ready for

These workshops are your ONLY chance to get ready for Fall Recruitment and qualify for the Accounting Networking Breakfast.
Part 1
Part 2

For more info, visit www.utm.utoronto.ca/careers

There’s no better time than the present to imagine a bigger future.
A CGA designation is more than a piece of paper. It’s a game changer. Certified General Accountants command top-tier credibility and maximum earning potential in the world’s most compelling companies. The only question is, are you ready to DO MORE?

Hear CGAs discuss their personal paths to success at CGA-DoMore.org/testimonial

“I’m a fresh graduate. I feel like the CGA designation will provide a lot of opportunity. I’ve already been recognized at work with more respect and increased pay.”
MANJIT B T BAG CGA BAGRI, Manager of Finance, The Herjavec Group Inc. Manager e

BIG PICTURE, BIG POTENTIAL
LOOKING PAST THE DOLLARS AND CENTS TODAY TO IMPROVE THE WORLD TOMORROW
BY RACHELLE CUEVAS

As consumer tastes change to reflect new trends, organizations must work to adapt. A growing concern about the sustainability of our planet has forced companies to reconsider how they do business.

E
For more information about the CGA program of professional studies, visit cga-domore.org.

nvironmental sustainability seems like less of a fad with each passing day. Financial professionals are challenged to think of the bigger picture and weigh the pros and cons of going green. It may be difficult to justify the expenses that come with sustainability but it has the potential to enhance a company’s future growth and success. A comprehensive sustainability policy is hard to adopt, but the biggest obstacle may be the myth that sustainability and productivity do not mix. According to Partha Mohanram, CGA, and CGA Ontario professor of financial accounting at the Rotman School of Management, businesses must look past short-term costs to consider longterm gains. “It would be similar to an organization cutting research and development after a poor financial performance report,” says Partha. “The next quarter may look better, but the organization would essentially shoot themselves in the foot as a lack of innovation would cause them to lose customers and market share. It’s true in the shortterm that you may have to spend more on sustainability, but research shows that choosing that option can lead to improved long-term profitability.” Measuring the success of a sustainability program is another challenge as there are no industry-wide standards in place. “We have the International Financial Reporting Standards (IFRS) and the Canadian Generally Accepted Accounting Principles (GAAP) to define how we measure things in financial reporting,” says

Steve D’Alessandro, CGA, vice-president of finance at CGA Ontario. “Without a standard to measure sustainability initiatives against, it is difficult to illustrate its value or validate the results organizations currently report. Companies would be more likely to adjust if they saw a financial incentive to being sustainable.” Organizations that focus on the bottom line overlook the intangible benefits of sustainability. Environment Canada reports that companies who have improved their environmental and social performance are enabled to do a variety of things like manage risk, improve stakeholder relations and attract or retain employees. Accounting and finance students need to look past the spreadsheets and focus on the broader picture of sustainability. “Students should consider how everyone who interacts with the organization will be impacted by an initiative,” says Partha. “People are very good at solving clearly defined problems but have difficulty dealing with ambiguity when information is scarce. In that case, students should focus on the mechanics of the problem.” The pursuit of sustainability and its impact on accountants will be realized over a long period of time. Value must still be defined and standards of measurement established. The CGA program of professional studies prepares tomorrow’s accounting and financial leaders to see more than numbers and offer sound financial advice. Students leave the program with a valuable skillset that includes the ability to measure traditionally immeasurable concepts, tackle complex management issues and implement corporate strategies.

The possibilities are limitless. Discover how with KPMG.
kpmg.ca

© 2012 KPMG LLP a Canadian limited liability partnership and a member firm of the KPMG network of independent , member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

It may seem early but believe it or not, many employers will start hiring for summer positions in January and February! Here are a few things students can do to get started: o First have a clear job goal. People who say “I’ll do any job,” will find that their search is far too broad. There are a variety of reasons why students look for summer jobs. Are you looking to build skills that are in line with your career goal? Do you want to gain work experience? Or are you simply looking for a way to make some money? Having a clear job goal will help employers and the job seekers understand where their skills, interest and talents lie. Start by thinking about about things you like to do as well as things that you are good at. Browse job postings to see the different types of activities and duties that are required. There will always be tasks on jobs that you may not like as much but you can try to identify jobs that will provide you with some satisfaction and skill building. o Create a clear and concise resume and cover letter that is tailored towards your job goal. No work experience? No problem! Things like volunteer experience, tasks done in clubs or other extracurricular activities and even course work count. First have a look at the Resume and Cover Letter Toolkit on the Career Centre’s website and then book a Resume or Cover Letter critique with an Employment Advisor. An Employment Advisor can help you create a resume that will stand out! o Know where to look for jobs. Of course there are jobs posted on-line( including the Career Centre’s online job posting system), in newspapers and on job boards but students will need to think out of the box and consider networking with family and friends to find jobs in the Hidden Job Market. Did you know that up

to 80% of jobs are not advertised? Many jobs are found through word of mouth and connections with people you already know. The Career Centre has many resources to help you with your networking and self-marketing skills. o Research companies of interest. Get creative with finding opportunities! Take a walk around your neighborhood and make note of interesting companies or organizations, use online or print directories to find local businesses, ask friends or classmates about their summer job experiences. Sometimes opportunities can be found where you least expect them. o Get out there and talk to employers! In fact, the Career Centre is hosting a Summer Job Fair on Wednesday January 16th in the RAWC. Get more details here: www.utm.utoronto.ca/careers/summer-jobfair o Check out some of the various Summer Employment Programs. There are specific government funded programs that are geared towards students to help them earn money and build skills. Get more details here: http://www.utm.utoronto.ca/careers/sites/ files/careers/public/shared/pdf/summeremployment-programs.pdf Still not sure where to start? The Career Centre offers various workshops that are available through the Events Calendar on our website, including Finding Internships and Summer Jobs Workshop on Monday January 21st. Summer jobs can be a great way to not only make money but build some skills and experience and learn what types of jobs and careers may be suitable for you. But don’t wait too long to start…. the summer job hiring season is just around the corner!

We’re all part of it
I don't think I'm alone in saying that most people want to have a career with purpose. Most of us want to understand how our professional contributions are helping to address society's challenges. We want to understand how we're part of something bigger, and how ouvr work is aligned with our values and aspirations. I'm proud to share with you that this kind of thinking has inspired PwC Canada! We're refreshing the way we approach Corporate Responsibility through a new strategy bringing everything under a banner called ‘part of it’. ‘part of it’ articulates our belief that each of us has a role to play in being part of the global conversation about how to become a more responsible business. Let's be part of the change together. www.pwc.com/ca/cr

James Temple csr-p Director, Corporate Responsibility

© 2013 PricewaterhouseCoopers LLP, an Ontario limited liability partnership. All rights reserved. 3243-01 0113

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