Professional Designations

The accounting profession has recently undergone a unification, resulting in the CA, CMA and CGA designations becoming united as the Canadian Chartered Professional Accountants (CPA) designation.

The MMPA Program is being redesigned to embrace this change and is in the process of obtaining accreditation by CPA Ontario. Our goal is to take our students right to the final module of the CPA Professional Education program (which entails 6 modules).

This means our students would not have to take the first 5 modules (Core 1, Core 2, Elective 1, Elective 2, Capstone 1) nor write the related exams for these modules. Thus – they would go straight to the Common Final Examination (CFE) after doing only the Capstone 2 module – which is essentially an examination preparation module.

A Class 2016 student would be enrolled as in the MMPA program for either 24 or 27 months, attend the Capstone 2 module in the final summer of 2016 and then write the CFE in September 2016.

We hope to confirm accreditation late June but will provide updates as they become available.

Courses taken during the Master of Management & Professional Accounting Program may be used for advanced standing towards the CPA designation in the USA.

 

FAQ's

Question

What are the benefits of obtaining the MMPA prior to the CPA?

Answer

There are several benefits to completing the MMPA Program before pursuing the CPA designation.

Our Program offers a unique integrated approach, combining the best of a graduate education in management and professional accounting over five academic terms and two co-operative work terms in a professional accounting environment.  This ensures that our students develop a comprehensive, practical set of analytical and professional skills.

Our co-operative work terms not only provide an opportunity to apply the academic knowledge gained throughout the academic terms in a practical work setting, but they also provide up to 8 months of work experience to count towards the CPA's 30-month work experience requirement.  Our placement rates for these co-op work terms have consistently been virtually 100%, which is a tribute to the excellence of our students.  In addition, over 90% of our students are employed by their graduation day.

Our unique approach has helped our students prepare in the past, for other challenges in obtaining a CA designation, including our favourable pass rates for the Uniform Final Examination.  For example, the pass rate achieved by our graduating class of 2004 was 77%, which is higher than the provincial rate and the rate for BCom students. In addition, two of our MMPA 2005 graduates placed on the ICAO Honour Roll, one of whom won the prestigious Gold Medal for Ontario.

Finally, for students with a non-commerce background, our Program provides an excellent, efficient gateway to the professional accounting designations including the CPA designation.  Our courses are organized into a tightly integrated 27-month stream compared to the four-year undergraduate degree or a string of part-time courses that may last over several years.

 

Question

Does the MMPA Program provide all of the courses needed to acquire a CPA designation?  If not, how many extra courses will be needed after the MMPA Program?

Answer

The courses offered in the MMPA Program are recognized for advanced standing by the Institute of Chartered Accountants of Ontario, the Society of Management Accountants of Ontario, the Certified General Accountants Association of Ontario, and the American Institute of Certified Public Accountants.

We expect that MMPA courses will continue to be recognized for the new CPA Educational Program,

 

Question

I've heard that by completing the 24 or 27 month stream of the MMPA Program I will be exempted from both the CMA Entrance Exam and the two-year Strategic Leadership Program requirement for the CMA designation. Does this mean I am also exempted from the 24 month work practical experience requirement for the CMA?

Answer

No. Although you will be exempted from the CMA Entrance Exam and Strategic Leadership Program, you will need to satisfy CMA Ontario’s 24 month Practical Experience requirement plus complete the CMA Case Exam and the CMA Board Report to be granted the CMA designation.

 

Question

If I first take time to pursue one designation and then want to take advantage of the CMA Combined Program, can I do so at any time?

Answer

No.  In order to take advantage of the CMA Combined Program, you must start one of the CMA program components (either the Case Exam or Board Report) within 13 months of your MMPA program graduation and you must complete all three CMA requirements (including the 24 months of practical experience) within 5 years of starting the MMPA Program.  Thus, while you could attempt the CMA Case Exam either in May or August of your final academic term or the year after graduation, you could register for the CMA Board Report either in December of the year you graduate or - for your final opportunity to register for a CMA program component - in December of the year after graduation.

 

Question

What are the benefits of obtaining the MMPA prior to the CPA?

Answer

There are several benefits to completing the MMPA Program before pursuing the CPA designation.

Our Program offers a unique integrated approach, combining the best of a graduate education in management and professional accounting over five academic terms and two co-operative work terms in a professional accounting environment.  This ensures that our students develop a comprehensive, practical set of analytical and professional skills.

Our co-operative work terms not only provide an opportunity to apply the academic knowledge gained throughout the academic terms in a practical work setting, but they also provide up to 8 months of work experience to count towards the CPA's 30-month work experience requirement.  Our placement rates for these co-op work terms have consistently been virtually 100%, which is a tribute to the excellence of our students.  In addition, over 90% of our students are employed by their graduation day.

Our unique approach has helped our students prepare for other challenges in obtaining a CPA designation, including our favourable pass rates for the Uniform Final Examination.  For example, the pass rate achieved by our graduating class of 2004 was 77%, which is higher than the provincial rate and the rate for BCom students. In addition, two of our MMPA 2005 graduates placed on the ICAO Honour Roll, one of whom won the prestigious Gold Medal for Ontario. We expect this record of achievement to continue in the new CPA educational program.

Finally, for students with a non-commerce background, our Program provides an excellent, efficient gateway to the professional accounting designations including the CPA designation.  Our courses are organized into a tightly integrated 27-month stream compared to the four-year undergraduate degree or a string of part-time courses that may last over several years.

 

Question

Does the MMPA Program provide all of the courses needed to acquire a CPA designation?  If not, how many extra courses will be needed after the MMPA Program?

Answer

The courses offered in the MMPA Program are recognized for advanced standing by the Institute of Chartered Accountants of Ontario, the Society of Management Accountants of Ontario, the Certified General Accountants Association of Ontario, and the American Institute of Certified Public Accountants.

After the upcoming accreditation discussions in May 2014, we expect to be able to announce the exemptions for the CPA program that are noted at the top of this column.

 

Question

I've heard that by completing the 27-month stream of the MMPA Program I will be exempted from the two-year Strategic Leadership Program requirement for the CMA designation.  Does this mean I am also exempted from the 24 month work experience requirement for the CMA?

Answer

No.  Although you will be exempted from the two-year Strategic Leadership Program, you will need to complete the CMA Board Report (which consists of a case analysis and presentation) and satisfy the CMA 24 month experience requirement to be granted the CMA designation.