Accounting

Jeffrey S. Prince,
Certified Management Accountant

Specializing In Professional and Personal Service for Owner-managed Businesses 

Playing a Big Role in Small Business

What is a Certified Management Accountant?

Certified Management Accountants in public practice are professional accounting entrepreneurs who understand small business financial management issues. They are highly skilled professionals who provide value-added accounting services and business advice to help your business succeed. Certified Management Accountants are recognized as management and accounting professionals.

What do CMAs do?

With a solid foundation in accounting and business knowledge, CMAs provide a range of business, taxation and accounting advisory services including financial statement preparation, business plan development and computer and information systems consulting. A CMA can assist in arranging financing and credit with your financial institution and can act as your part-time controller.

At what point do you hire a CMA?

As an entrepreneur, you know there are only so many hours in a day and only so many things you can do yourself. There may be times when you need to turn to a qualified professional accountant to look after a range of issues from your day-to-day financial requirements to your financial forecasts and tax planning. Eventually, every successful business will need the expertise and skilled service of an accounting professional. And, for more and more business owners today, the accounting professional of choice is a Certified Management Accountant.

So, when should you hire a CMA?

Call a CMA whenever you need help developing a business plan, setting up internal control systems, budgeting, tax planning and financial statement preparation or virtually any aspect of your business. A CMA can help whenever you need sound business advice.

The Society of Management Accountants

CMAS are members of The Society of Management Accountants of Ontario, a self-governing professional body, which regulates the practice of CMAs and provides professional development opportunities for CMAs. The Society is the only accounting organization solely dedicated to furthering the development of management accounting practice and grants exclusive rights to the CMA designation. The Society is committed to maintaining high standards among its 19,500 certified members and 3,000 student members.

The CMA Code of Professional Ethics

As professionals, CMAs are bound by a Code of Professional Ethics which stipulates that CMAs have a responsibility to their clients, the public and their fellow professionals. CMAs uphold the highest standards of ethical conduct and follow fair and honest business practices in their dealings with their clients. The society has a responsibility to the public to deal promptly with complaints about the action of CMAs. It's important that clients inform the society if they become aware of any unethical behavior or unprofessional conduct on the part of a CMA.

The Qualifications of a CMA

The CMA designation is earned through a rigorous and carefully structured accreditation program. A university education is a requirement and members must pass a national, professional examination and complete a two-year management development program. Members must also satisfy a practical experience requirement to demonstrate that they have the ability to apply theories and concepts.