WHITE COLLAR CRIME:A CROSS-BORDER ANALYSIS

Challenges multiply with parallel investigations in Canada and the U.S.

Strategic Principlesat Work in the CommunityThe SO.CIAL Success Story

Terminating EmployeesKey tips to protect all involved constituents

Fall 2007

Certified Management Accountants • British Columbia

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C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i a | �in this issue

in this issue

CMA Spotlight 7 | Sharing Best Practices

What is your definition of success?

10 | Business Beacons Meet four CMAs that are leaders in their field and lead others in achieving financial goals in all areas of their corporations.

Opinion12 | Notes from the Desk of Minister Rick Thorpe

An update on small business in BC.

Accounting Scope 13 | Public Practice Update

Public practice news for CMAs in BC.

Management View15 | Strategic Principles at Work in the Community

Case Study: SO.CIAL Restaurant A local success story.

17 | Terminating employees – an inevitable event in any organization What do you do when all your conflict management skills do not resolve a performance issue?

Strategy Report19 | White Collar Crime –

North and South of the Border An analysis of white collar criminal cases in Canada and the U.S.

21 | Marketing to Different Generations: Choose your message wisely How can leaders ensure that their messages reach every generation?

CMA News23 | Diary of a CMA in Training

A student’s perspective on his pursuit of the CMA designation.

25 | Top Performers Top students to challenge the June National Entrance Exam.

News and Notes 8 | Inquisitive Study | Digital Dashboard

Gadgets and Widgets | In Quotes

Introducing your Editorial Task ForceThis Spring, we issued a survey to CMAs throughout the province of British Columbia inquiring about how the CMA British Columbia Society was doing as well as soliciting a response to member satisfaction and benefits.

We are proud to announce that this provincial magazine – UPDATE – was rated as one of the top benefits. To ensure we focus on editorial of interest and value to our readers, we have set up an editorial task force to provide a CMA perspective - at varying stages of their designation - as well as updates in public practice. The content of this issue is through the guidance and support of the following individuals:

David Andru, CMA – Finance Manager, lululemon athletica Geoff Bryant, CMA Student Doris Good, CMA – Auditor, Ministry of Small Business and Revenue Don Nilson, CMA, FCMA – Principal, Nilson & Company and Member, CMA British Columbia Public Accounting Task Force

Roy Quinones, CMA – Settlements Analyst, Powerex Corporation

In this issue, we are excited to feature more articles about you – our members – and your unique and innovative skill sets and career paths.

You’ll also notice articles from members of the Editorial Task Force including “Diary of a CMA in Training” by CMA student Geoff Bryant as he writes about his pursuit of the CMA designation in the first of several diary entries following his career.

Throughout this issue, topics are wide ranging from white collar crime in Canada and the U.S. to key steps for employee termination to best management practices from the newest fine dining restaurant in Gastown – SO.CIAL. We’ve also introduced a new section – “News and Notes” – where we have included executive summaries on news, reports, trends, and best practices.

Keep in touch, and help share your news and thoughts. We hope you enjoy this issue.

Update Editors

Vinetta Peek Vice President, Marketing & Communications

vinetta@cmabc.com

Want to advertise in the next issue of Update? Contact Chris Livingstone at 604.684.2961 or chrislivingstone@choicemedia.ca.

Please note: If an article is published about you in British Columbia and identifies you as a CMA, please forward it to us to ensure that we are up to date with your news and information.

executive board Chair FredZdan,CMA,FCMA

PastChair KarenBotham,CMA,FCMA

FirstViceChair MehbJessa,CMA

SecondViceChair MiaMaki,CMA,FCMA

Treasurer BruceBelsher,CMA,FCMA

Secretary ColinBennett,CMA,FCMA

directors at large MeryleCorbett,CMADavidDeGit,CMAGrahamFane,CMA,FCMAMarkKennedy,CMAStephenLee,CMADonaldaMacDonald,CMAJoanMar,CMARonMatthews,CMALyndonPeterson,AAT,CMARobertA.Strachan,CMA,FCMA

executive staffPresidentandCEO ColinBennett,CMA,FCMA

VicePresident,AccreditationPrograms IrwinDeVries

VicePresident,Operations RickLightheart,CMA,FCMA

VicePresident,Marketing&Communications VinettaPeek

update staffEditor VicePresident,Marketing&Communications VinettaPeekAssociateEditor CommunicationsCoordinator JacquelineKhouwAdvertising ChoiceMediaGraphicDesign ProfileDesignGroupInc.

A Note to ReadersUpdate ispublished four timesayearby theCertifiedManagementAccountantsSocietyofBritishColumbiaandismailedto4000CMAs,1000CMAstudents,andindustrypartnersthroughouttheprovince.OpinionsexpressedarenotnecessarilyendorsedbyCMABritishColumbia.

Editorial and Business OfficeSuite1055TwoBentallCentre,555BurrardSt.,Box269Vancouver,BC,V7X1M8Phone:604.687.5891•Toll-free:1.800.663.9646Fax:604.687.6688Email: cmabc@cmabc.com Website: www.cmabc.com We welcome your feedback.

Copyright CMA British Columbia 2007.Publications Mail Agreement No: 40069584 Please return undeliverable copies to address above.

Certified Management Accountants • British Columbia

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i aeditor’s note4 |

Jacqueline Khouw Communications Coordinator

jacqueline@cmabc.com

Editor’s Note

C M A U P DAT E | S e p t e m b e r 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i a

Another Fall intake for our CMA Programs is already upon us. We’re quickly ramping up for another September intake to our Accelerated Program, Strategic Leadership Program, and Executive Programs at Simon Fraser University and the University of Victoria.

In addition to the year-end events that took place on September 27, 2007 at the Sutton Place Hotel, which included our Board meeting followed by a Volunteer Appreciation luncheon and our Annual General Meeting, we’d like to bring your attention to a few key dates for you to note in your calendars.

On October 13, 2007, we’re holding our annual luncheon for all our BC ‘Distinguished Members’, which include Past BC Board Chairs, FCMAs, Life Members, Honorary CMAs and Recognition Award Recipients, at the Hyatt Regency Hotel in Vancouver. Later that afternoon, our newest CMA graduates will be welcomed into the profession at our Convocation ceremonies.

On November 1, 2007, we are holding a Career Connections event at the Fairmont Hotel Vancouver.

Also, it isn’t too early for you to note Tuesday and Wednesday, May 27 and 28, 2008 when we will be holding a 2 day members’ CPLD conference at the Best Western Richmond Hotel & Convention Centre.

We will also be continuing our Executive Tour visits around the province so check the dates in your region as we’d like to see you come out and meet and chat with your Society executives, regional BC Board representatives, Chapter Boards and fellow CMA members and students. Of course, we will also continue to recognize those members who each year achieve a CMA service milestone of at least 25 years with their CMA designation.

Our auditors, BDO Dunwoody LLP, are just completing their audit of 2006-07, which was another good year. Our net equity position has increased to $800,000 and we’ve managed a break even position for the year 2006/2007, which went according to plan.

In May 2007, the BC Board of Directors approved our Business Plan and Financial Budget for fiscal 2007-08. Our approach on managing our operations continues to be to allocate our resources as efficiently as possible toward achieving or exceeding our approved balance scorecard performance measures, without trying to generate any financial surpluses or deficits.

Our Society performance measures as approved by the BC Board include:

Growth of Certified members New student intake into all our programs Member, employer, candidate and employee satisfaction Unpaid mentions of CMA in all the various media, and Managing the financial operations of the BC Society.

Message from Your President & Chair

Fred Zdan, CMA, FCMA Chair

Email: chair@cmabc.com

Colin Bennett, CMA, FCMA PresidentandCEO

Direct: 604.484.7002 or 1.800.663.9646 ext. 7002

| 5message from your president & chair

Recognizing the time lags on some of our initiatives, we tend to now plan some of our main activities by looking at 3 year cycles or longer, rather than just each fiscal year. As we recently implemented the degree requirement upon entrance to the CMA pathway, we saw an expected drop in student intake. In response, we’ve been diligently spreading the CMA word through our numerous branding and advertising events, and regular information sessions. We are now seeing improved registrations in our Accelerated Program, our various alternate channel programs, such as our Executive CMA Programs, and into our Entrance Exams.

One of our key goals for this year is to see improved pass rates by our BC students on the National Entrance Exam. We’re very pleased to report that the BC pass rate for 1st time writers this past June has significantly improved to 87.5%, which is far above the National average of 73.7%. This means far more students can now enter the final phase of their CMA designation program - the Strategic Leadership Program. This is all part of our continued focus on growth while maintaining and improving the content and quality of our programs. In fiscal 2007-08, we expect to exceed 4,100 CMAs in BC and have a longer term target of 4,500 or more within the next 3 years.

It’s an exciting and challenging time for your Society both nationally and in BC. You’ll continue to receive frequent updates on the many ongoing initiatives designed to improving our services to all our members, raising the profile, differentiation and prestige of the CMA designation, and continuing to make the CMA BC Society ever more vibrant and successful over the long term.

Best regards,

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i aCMA spotl ight6 |

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i a | 7CMA spotl ight

“A quote I have kept in my pocket for years is “Happiness is the greatest success”. I do believe that success is really something you define for yourself and is too commonly associated with wealth, or measured by the endless material objects you can surround yourself with. What is often forgotten in the journey of life is your own true happiness. If you like waking up in the morning, and enjoy every moment of your day - that is success. However you go about that - by feeling that you have fulfilled a role in helping others through your work, volunteering your time within the community, successfully completing an educational program, or by being a great parent - that is your own method. But the key factor is knowing that when you wake up in the morning, you are in for a great day, and when you fall asleep at night, you are fulfilled that this day was just what you wanted it to be. Although it is true that not everything goes your way all the time, the importance is knowing that you yourself

Sharing Best Practices

CMA Spotlight CMA Spotlight

“What is your definition of SUCCESS?”

Sabina Gambhir, CMA FinancialAnalyst

Canaccord Capital Corporation

“To me, success is defined by the small achievements we make every day, and I encourage my team to recognize their daily achievements rather than dwell on big picture goals. Focusing too much on the big picture creates two major risks that impact success.

First, if we fail to recognize the possi-bility of interim successes, we may choose not to move forward at all. Understanding the potential to make incremental im-provements on the road to a greater goal is critical. It is impossible to achieve anything without taking the first step forward. Recognizing the potential to create short-term value is often a catalyst for that first step.

Corey Medgyesi, CMAVicePresident

Imperial Parking

“Oxford defines success as “the accomplish-ment of an aim or purpose”. While it is true that success is measured by accomplish-ment; we tend to place too much emphasis on accomplishment and not enough value on failure. A Chinese proverb says that “Failure is the Mother of Success” and I could not agree more.

Dennis Wong, CMAChiefFinancialOfficer

Empire Dynamic Structures

tried your hardest and have no regrets. And bringing this back to the workplace - wanting to put 110% into everything you do, and doing it with a smile - that’s success!”

Second, it is easy to lose motiva-tion if it takes too long to achieve a goal. When that happens, it is more difficult to maintain the commitment required to complete a major objective. Celebrating small, interim successes keeps a team focused and moving toward the overall goal.

Reaching those little milestones in-crementally improves our situation and enables us to be consistently successful. That motivates progress towards overall objectives and generates a tremendous amount of success along the way.”

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i aC M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i aCMA spotl ight8 |

Best-selling author and career/workplace expert, Stephen Viscusi, states that we can expect to see more of online video resumes in the future. The technol-ogy is inexpensive and easy to use, and the online video resume has several advantages over traditional written resumes. “I call them ‘resumes on steroids’,” says Viscusi. “Employers receive such a large number of applications that one needs to grab the attention of the potential employer quickly, and that is exactly what online video resumes do.”

Another plus, according to Viscusi, is that the applicant’s persona comes through in an online video resume. “In recruiting, personality and chemistry are very important. If candidates present well in an online video resume, the employer will be more likely to offer an interview even if they, for example, lack the preferred work experience. A written resume rarely provides that opportu-nity,” said Viscusi, who estimates that an online video resume will score an applicant 20 percent more job interviews.

Just as job hunters are starting to post video profiles on the Internet, prominent companies are now making use of the web’s latest format to promote themselves to potential applicants.

During the development stage of my career, I attended many job interviews. The most memorable one was when the interviewer, who was the President of the company, asked me “What was the most expensive mistake I had made in my career?” I was caught completely off guard. As I recounted my costliest errors, I thought I had blown my chance and was surprised to receive the job offer a week later. After I started the position, I asked the interviewer, who had become my boss, why he decided to hire me. He explained that responsibility is directly correlated to success and failure, and since I had made costly mistakes, I must have had a com-mensurate level of responsibility. Given my positive references, he deduced that I must have had many more equally large ‘wins’ and with lessons from the mistakes, I would be a great candidate.

My boss has since retired but I still thank him, as I have not only gained a challenging job, which cumulates to my current position, I have also learned to look at failure in a much more positive light.”

Sharing Best Practices [cont’d]

A little laughter can go a long way in the workplace, a new survey suggests. 97 per cent of workers polled said it’s important for managers to have a sense of humour. Employers appear to have received the message: 87 per cent of workers said their manager does indeed have a good sense of humour.

The survey was developed by Robert Half International and included responses from 492 workers employed in office environments.

“Managers who can laugh at themselves or difficult situations are often seen as more approachable and in touch with the challenges their teams face,” said Max Messmer, Chairman and CEO of Robert Half International and author of Human Resources Kit For Dummies®, 2nd Edition (John Wiley & Sons, Inc.). “Levity also can be used to build rapport among staff and ease stressful situations.”

Messmer cautioned that while people enjoy working for someone who has a good sense of humour, too much clowning can have the opposite effect. “To be taken seriously, supervisors must balance their desire to keep the mood light with the need to accomplish business objectives, inspire great performance and maintain professionalism.”

Inqu is i t i ve S tudy :

Almost 9 out of 10

Workers Think Their

Bosses Have a Good

Sense of Humour

Gadge ts and

W idge ts :Online Video Resume the Future of Recruiting

This is a summary of an article published by accountingweb.com.

For the detailed article, visit www.accountingweb.com.

For more information, visit www.roberthalf.com.

News& Notes

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i a | 9News & Notes

Almost everyone who owns a computer knows about Wikipedia, the huge, do-it-yourself online encyclopedia. The software that makes Wikipedia possible is becoming increasingly easy to use, and corporate America is starting to embrace wikis as a tool for simple and swift collaboration.

In fact, Wikipedia founder Jimmy Wales told Newsweek that the wikis are becoming mainstream, not just for “tech geeks.” And in corporate settings, wikis break down barriers. “I think at a lot of organizations people get very frustrated by the overhead of just getting things done, which is why we’ve seen the wiki blow up in the corporate world. It just sweeps away a lot of the nonsense.”

I n Q u o t e s :

Howard Schultz, Chairman and Chief Global Strategist, Starbucks

D i g i t a l D a s h b o a r d :

| 9

These quotes were compiled from www.quotationspage.com.

This is a summary of an article published by accountingweb.com.

For the detailed article, visit www.accountingweb.com.

Wikis are simply web pages that anyone who logs on to a site can edit. That model is being used as a new form of teamwork in business. Market analyst IDC says one in four U.S. corporations already use wikis in some way, while tech consult-ing firm Gartner predicts that as many as half of the corporations will be using the technology by 2009, the (Toronto) Globe and Mail reported.

Wikis can document what workers just “know” in their heads, creating a vast re-pository of information. Prager, Sealy & Co., an investment firm in San Francisco, created a wiki with technical information for anyone in the company to access and edit. “So much of adapting to an organi-

“I think the hardest thing about my job is the way Whole Foods Market views itself philosophically and that is we are a business dedicated to meeting all the various stakeholders of the company’s best interests. And by stakeholders we mean customers, team members, stockholders, community, and the en-vironment. Sometimes what is in the best interest of one stakeholder may not be in the best interest of another stakeholder, and as the CEO, I have to balance the various interests of the different constituencies and stakeholders to create win, win, win scenarios, and that can sometimes be very difficult to do. Everybody wants something from the CEO.”

John Mackey, CEO, Whole Foods

“I’m able to bring business expertise but, more impor-tantly, operating experience. The people here at Google are young. Every day there are lots of new challenges. I keep things focused. The speech I give everyday is: “This is what we do. Is what you are doing consistent with that, and does it change the world?”

“Our mission statement about treating people with respect and dignity is not just words but a creed we live by every day. You can’t expect your employees to exceed the expectations of your customers if you don’t exceed the employees’ expectations of management.”

Chris Corrigan, Managing Director, Patrick Corporation

“I think the most important CEO task is defining the course that the business will take over the next five or so years. You have to have the ability to see what the business environment might be like a long way out, not just over the coming months. You need to be able to both set a broad direction, and also to take particular decisions along the way that make that broad direction unfold correctly.”

Eric Schmidt, Chairman of the Board

and CEO, Google

zation is understanding who knows what, and where you go for information,” IT director Aaron Hathaway told the Journal. “The system for collaboration is pretty broken.”

Of course, a wiki is only as good as its content, so a neglected wiki isn’t much help. Some observers have suggested that companies start small, introducing Web 2.0 technologies to small groups and then expanding as success spreads.

Corporate World Welcomes Wikis

KAREN BOTHAM, CMA, FCMA

As Director, Process Management within the Strategic Planning and Execution group at TELUS, Karen leads a national team of 55 people located in Burnaby, Edmonton, Calgary, Toronto, Montreal and Rimouski. Her team supports the contact centers that service residential customers for data, IP and wireless needs. She is responsible for a diverse portfolio that includes driving end-to-end process re-engineering, self-serve client experience, business readiness activities, and the enterprise-wide knowledge management tools for front-line agents.

How do you integrate accounting expertise with advanced management skills to achieve business success?

“My team leads key projects and initiatives that impact the client experience and have cross-functional implications to the organization. A key aspect of my role is to ensure these projects are executed effectively. This includes ensuring we have a sound business case and delivering on the benefits post-implementation.”

What part of leadership provides the greatest personal satisfaction?

“Definitely the people. I work with a great team of people that continually amaze me, challenge me and teach me how to be a better leader.”

DARREN DEGRAAF, CMA

As Senior Manager, Risk Management at HSBC Bank Canada, Darren’s primary responsibility is the monitoring of the loan portfolio. This includes the examination of exposures of different sectors and constructing models to forecast the impact of economic events. Secondarily, Darren enhances the credit reporting function, utilizing software to glean credit information from newly created credit data warehouses.

How do you integrate accounting expertise with advanced management skills to achieve business success?

“Having a solid understanding of GAAP has allowed me to understand the methodology that went into the compilation of our financial statements, which is the primary information that we rely on when reconciling data extracted from our database systems for sound credit risk management reporting.”

What part of leadership provides the greatest personal satisfaction?

“I enjoy mentoring others. I recently hired an aspiring young student right out of university, and it is a thrill to see her grow as an employee and as a human being.”

Business Beacons…

The functional knowledge and

expertise of CMAs has been and will

continue to be grounded in accounting.

However, through recent periods of

significant change in the management

accounting profession, CMA Canada

has established the designation to

be held by strategic management

accounting professionals. The CMA

designation rests on a foundation of

three pillars: accounting, management

and strategy. Simply put, CMAs not

only get the numbers right – they also

understand the process to achieve

organizational goals, manage people, as

well as understand, anticipate and react

to internal and external forces. These

CMAs embody those standards, and are

using their accounting expertise, and

advanced management skills in non-

traditional accounting roles to achieve

financial goals and business success.

These CMAs are

leaders in their field

and lead others in

achieving financial

goals in all areas of

their corporations.Editorial By: Doris Good, CMA

Photos By: Erich Saide

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i aCMA spotl ight10 |

CMA Spotlight CMA Spotlight

MEHMUD KARMALI, CMA

As a Director of Acute Programs at Royal Columbian Hospital in New Westminster, Mehmud is responsible for $40 million in annual operating expenses and 330 FTEs of staff. He has operating responsibility for specialized hospital services that include interventional cardiology, cardiac surgery and ambulatory care clinics. He is also responsible for the hospital’s centralized allied health professions, which include respiratory therapy, cardiac perfusion, physiotherapy, occupational therapy and social work.

How do you integrate accounting expertise with advanced management skills to achieve business success?

“As a director, I must advocate for the appropriate level of resources needed to meet the organization’s mission related to my areas of responsibility and assess how well services are performing against set targets. With continually changing service demands and standards of care, it is also important to anticipate future needs by promoting emerging clinical service delivery models and associated capital projects through sound business cases.”

What part of leadership provides the greatest personal satisfaction?

“A core aspect of my role is to lead people and build relationships, which is also the most fulfilling thing about going to work. It gives me great satisfaction to know that when my management team is successful, patients will benefit by receiving better care.”

YVONNE SAYSON, CMA

Yvonne’s primary responsibility as Portfolio Manager at Phillips, Hager & North Investment Management Ltd., is to manage client portfolios for one of Canada’s oldest independent investment management firms. The company manages money for private clients, non-profit organizations and institutional investors, totaling over $67 billion. She assists her clients to achieve their financial goals, supported by the depth of market expertise of the firm’s dedicated team of analysts. In addition to managing a book of clients, she also liaises with IT professionals to create a solid technology platform, allowing investment professionals to focus on making sound investment decisions and nurturing relationships with clients.

How do you integrate accounting expertise with advanced management skills to achieve business success?

“While the CMA designation provided me with a foundation in accounting, the elements of greatest value to me are rooted in the professional portion of the program such as project management, managing change, and performance measurement. These elements play an integral role in much of what I do, including identifying error prevention uses of technology, developing a score-card for our investment professionals, identifying gaps in the relationship and portfolio management platforms -- then working with IT professionals to fill those gaps.”

Doris Good, CMA is an Auditor for the Ministry of

Small Business and Revenue. She is also a member of the

Update Editorial Task Force.

What part of leadership provides the greatest personal satisfaction?

“Promoting excellence within the team is incredibly satisfying to me personally. It is a thrill to nurture a team and witness it become greater than the sum of its parts. My position also provides me with the satisfaction of consulting with individuals, and providing reassurance that their financial affairs are well taken care of.”

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accounting scope12 |

Notes from the Desk of Minister Rick Thorpe

This October, Premier Gordon Campbell has proclaimed Small Business Month in British Columbia, to recognize and celebrate the valuable contribution small businesses make to our growing economy and to acknowledge the achievements of small business in all regions of British Columbia.

British Columbia’s small businesses and their employees – numbering more than one million – continue to be a driving force in building our strong economy. Small business growth in British Columbia increased for the fifth consecutive year, and 98 per cent of all businesses in British Columbia are small businesses, accounting for 57 per cent of private-sector jobs.

CMAs play an invaluable role in the success of many small businesses. Often times, the financial aspects of running a

CELEBRATING SMALL BUSINESS MONTH

small business are the most challeng-ing, and sound financial management is essential. CMAs provide the necessary expertise and have a positive impact on business growth and the economy in British Columbia. Many CMAs are also small business owners themselves , providing financial management services to a wide range of their own clients. The CMA designation is widely recog-nized and the opportunities are limitless. As someone who’s been a CMA for 35 years, I doubt I would be the Minister of Small Business and Revenue without the foundation the CMA designation provided.

As some of you are involved in audits, I am pleased to tell you that this fall, our sales tax audit program will be improved and enhanced to make the process easier for small businesses. The changes will be reflected in the fourth edition of the Taxpayer Fairness and Service Code being released later this fall.

Small Business Month is an opportunity for all of British Columbia to show their support for the small business sector and to celebrate its successes and entrepreneurial passion. To ensure the continued success of small business across British Columbia, our government is working in partnership with small businesses and our industry partners to make it easier to do business and pursue our goal of making British Columbia Canada’s most small business friendly jurisdiction.

Minister of Small Business and Revenue Minister Responsible for Regulatory Reform

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i a

During Small Business Month, I will be touring different regions across British Columbia and I look forward to meeting and hearing from small business owners on ways to make it easier to do business.

Our government is committed to growing British Columbia’s economy, and I want to thank CMAs and the small business sector again, for an outstanding entrepre-neurial spirit, their hard work and enormous contribution to British Columbia’s economy and our communities. Working together in partnership, we will continue to ensure British Columbia is the best place on earth to live, work and invest.Yours truly,Rick Thorpe, CMA, FCMA

On behalf of CMA British Columbia, Minister Thorpe presents the 2007 CMA Employer of the Year Award to Loretta Wallace, Western Canada District

President of Robert Half Canada Inc. Minister Thorpe, a CMA himself, presented the award

on May 10, 2007, at the inaugural CMA British Columbia Accountability Summit in Vancouver.

Opinion

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i a | 1�accounting scope

May you live in interesting times. This is a phrase well known in the English language and typically ascribed to an old Chinese proverb. In truth, there is no such documented connection. Some attribute the phrase to a mid-Fifties American science fiction writer and others ascribe it to a 19th Century British writer using a Chinese nom-de-plume. There, it was the first of three ‘curses’, the other lesser-known ones being “May you come to the attention of those in authority” and “May you find what you are looking for”.

Accountants in public practice indeed are living the well-known phrase. Aside from the ubiquitous burden of ever-changing govern-ment legislation in income and commodity taxation, CMA public practitioners must watch their right flank for huge changes at the pro-fessional level.

First, there is the Ontario-driven movement to CMA National Standards for public accounting. This has been in progress for a while and will soon come to fruition. The BC version of this is slated to go forward to the Provincial Board this Fall for review and possible ratification. CMA practitioners are well advised to be cognizant of what changes may lie ahead.

In the future, CMAs seeking to register as prac-titioners will have to meet these new standards in order to be licensed. New applicants must success-fully complete five on-line post-designation courses in taxation and assurance, followed by a two part, five hour comprehensive national public accounting exam. They also must acquire relevant public practice experience, measured in billable hours or equivalent, gained in an approved training organization. Up to 75% of this experience may be gained prior to enrolment in the post-designation program.

A transitional measure will grandfather all CMAs currently registered, and exempt them from the educational and practical experience require-ments explained above.

A new initiative will require all practitioners to register their practice at a tier level - one through four. Tier one is for a compilation-only practice, while the higher tiers include review engagements and audits.

Grandfathered members will be initially tiered at the level reflected in their most recent practice inspections. They will be given a time-limited op-portunity to appeal their initial tier level registration. The practitioner must have sufficient experience to function at a particular tier. All practitioners seeking to migrate to a higher tier may be required to acquire the necessary educational and practical experience commensurate with that tier. This may

entail gaining the extra experience through a mentor, subcontracting or employee arrangement.

Another new initiative will require registration and approval to act as a training organization or individual if the practitioner wishes to hire staff who are trying to ac-cumulate the practical experience requirements. The training organi-

zation or individual must have at least three or five years of public accounting experience, depending upon the tier level, and have had successful practice inspections.

Another significant change is a new “minimum level of activity” requirement, which may, for instance, affect practitioners winding down in semi-retirement. The minimum will be set at five hundred billable hours or equivalent per annum for the practice.

The new National Standards consolidate the existing requirements regarding insurance coverage, practice inspection, professional conduct and con-tinuous learning. The practice of “public accounting” has a definition in BC that is broader than some other jurisdictions. Aside from providing audit, review or compilation services, it also includes providing forensic accounting or tax advice or tax prepara-tion where it is related to any of the above services. Also, it may include accounting services insofar as it involves summarization, analysis, advice, counsel or interpretation.

The BC Society will be creating a new Licensing Committee which will oversee these new standards in BC. You can read more about these standards at www.cmabc.com under Members/Public Practice.

Secondly, the BC Society will bring forth a new set of Professional Conduct amendments affecting

| 1�

Accounting Scope

Public Practice Update By Don Nilson, CMA, FCMA

“Mayyoulive

ininteresting

times.”

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public practitioners. These were mailed out in August with the AGM package. These were drawn directly from existing ICABC rules and they are principal-ly directed to conduct in assurance engagements. Many of them are specifically directed to engage-ments for “reporting issuer audit clients” and likely can be ignored by most CMA practitioners.

Independence rules across a range of conditions restrict a practitioner from taking on an assurance engagement. First, there cannot be a direct financial interest or material indirect financial interest in the client entity by the practitioner or a defined list of related parties. Financial interest includes both an equity position and a lender or creditor position. Second, there cannot be a “close business (material) relationship”, which is not defined. Third, there cannot be an employee/officer/director rela-tionship or a family or personal relationship to the client entity. This includes family members with significant influence. Fourth, there cannot be a “management function” provided to the client entity, defined variously in the draft. Fifth, the practitioner cannot prepare journal entries for the client entity which have not been approved by management. Sixth, neither the practitioner nor a “network firm” can provide corporate finance activities, defined

variously in the draft. Seventh, the practitioner cannot receive gifts, hospitality or discounts from the client entity unless they are immaterial.

This is only a broad summary of the amendments, and practitioners would be well advised to read the details in the AGM package which will be available at www.cmabc.com under Members/AGM.

In closing, we return to the lesser known proverbs above: “May you come to the attention of those in authority” – indeed you have and, “May you find what you are looking for” in choosing a career in public practice in the face of ever-increasing restric-tions and responsibilities.

Public Practice Update [cont’d]

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Don Nilson, CMA, FCMA is the Principal at Nilson & Company. He is also a member of the Update Editorial Task Force.

ManagementViewStrategic Principles at

Work in the Community

Case Study: SO.CIAL Restaurant

SO.CIAL Magasin - the new fine dining restaurant at the heart of Gastown - is simple proof that you don’t have to be a multinational conglomerate to apply sound strategic initiatives. Established by Chef Sean Cousins, Maureen Fleming, and Canuck alumni Bob McCammon and Kirk McLean, this group of entrepreneurs is le-veraging their varied skill sets to redefine the scope of their business.

In Vancouver’s highly concentrated and competitive eatery industry, SO.CIAL is shining brightly as one of the few high-end restaurants in Gastown serving the local population as well as the tourists with its use of local ingredients and commit-ment to detail. The most intriguing part of their offering is the custom butcher shop and deli opened adjacent to the restaurant. This seemingly simple addition showcases several key strategies that are valuable for any organization.

I sat down with Sean Cousins, Co-Owner and Executive Chef, to discuss their unique operation. Three key components were unveiled.

By David Andru, CMA

Competing via Product Differentiation

The SO.CIAL butcher shop and deli has differentiated themselves from their com-petition and given consumers a reason to seek them out. By creating additional perceived value, they are able to charge a premium price for their product whereas without differentiation, they would have only been able to compete on price.

The source of their differentiation is firstly through their products. They prepare and sell restaurant quality meats that until now have not been readily available to the general public. Cousins says the idea for the butcher shop was born when he himself moved into the Gastown area and could not locate a suitable place to buy meat.

A large amount of the meat is sourced locally and normally, entire animals are purchased and then cut down. Cousins believes that dry aging the meat on site gives it a better flavour and texture than the wet aged meat available elsewhere. The meat is then cut to order to ensure consumers get exactly what they want.

They also prepare their own salami, ham, prosciutto and charcuterie and offer all of the above in sandwiches with fresh baked bread. This commitment to quality products made in house differentiates their offerings and gives consumers a reason to visit frequently.

The second key area of differentia-tion is the unique purchasing experience. Led by Cousins, the shop is staffed with chef trained butchers who can educate consumers on the meat, aging process, cuts available as well as potential recipes. They often remember what customers have previously purchased and can guide them into trying something new if prompted. The staff not only have a vast amount of expertise, but exhibit a true passion for what they do. The shop is bringing back a level of service that is difficult to find and even more difficult to copy. The business is attempting to truly connect with the community and build customer loyalty and trust over time. This old world service and charm is complemented by their setting in Vancouver’s most historic neighbourhood.

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Creating a market instead of entering a market

SO.CIAL has created a new market with its operations. It’s offering something that people could not access before and do not necessarily know they want until they try it.

This is like creating your own rules for a game or a new game altogether. Instead of entering an existing market with multiple competitors fighting for the same market share, you create a new market and attain the first mover’s advantage. This is not the same as differentiating your product. Instead, this is a step beyond that.

SO.CIAL has positioned itself for success with a com-mitment to the community, unique products, exception-al service and a great group of staff that are passionate about their work. They have employed strategies that are

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Vertical Integration and Leveraging Key Strengths

SO.CIAL employs a strategy of vertical integration within the restaurant as well as the butcher shop and deli. Instead of ordering precut meat products from a wholesaler, Cousins does his own in house preparation of the meat for the restaurant, which is now additionally leveraged with the butcher shop.

This integrated strategy allows them to retain margin through multiple steps of the process of bringing a product to market and into the hands of a consumer. In essence, a vertically integrated business pays themselves instead of a manufacturer or middleman because they are the manu-facturer. With this strategy in place, the company now has added a revenue stream that was previously non-existent.

adaptable to any business as the environ-ment and the business itself changes.

It is important to note that over time, strategies will need to be reviewed and possibly adjusted especially with regard to expansion or other distribution op-portunities. Furthermore, all businesses face operational issues that need to be watched closely and include inventory planning, staffing, training and capacity constraints.

SO.CIAL Restaurant [cont’d]

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David Andru, CMA is a Finance Manager at lululemon athletica. He is also a member of the CMA Update Editorial Task Force.

Terminating employees – an inevitable event in any organization

ManagementView

By Karin Kirkpatrick, CHRP

As your organization changes and evolves to keep up with a shifting competitive environment, respon-sibilities of roles shift requiring new or different skills. There may be an economic need to reduce staff. You may have hired the wrong person for the job or you may have someone who is simply underperforming.

Regardless of the reason, a termination can be distressing for the people impacted; not only the employee or employees being directly affected, but all those people around them including co-workers, supervisors, staff, family & friends. A termination handled incorrectly can have a negative impact on productivity and morale as well as be potentially expensive from a legal perspective.

As such, it is always prudent to seek legal advice before planning a termination. Even where something seems straight forward, always ensure that legal requirements are met in terms of com-mitments under an employment contract or notice and severance required by law. It is not as simple as referring to the Employment Standards Act which only covers minimum requirements. Depending on variables such as age, length of tenure and employ-ability, the Court may find that significantly more than the minimum would be equitable and owing. An employment lawyer can provide you with an opinion prior to a termination on what some of these expectations may be and help you more accurately identify your obligations.

Furthermore, from a logistical perspective, con-sideration of the following points is essential in preparing for an employee termination. Terminations are difficult for everyone and detailed planning on how it should be managed will reduce stress and anxiety. These tips are provided based on a termina-tion where working notice is not the option.

Plan the time. It is better to move quickly when a decision to terminate has been made. The beginning of the week is preferable as it will allow the employee to be proactive and attend to details such as filing an employment insurance claim, dealing with financial issues, and/or beginning a job search or outplacement program. Where a termination occurs on a Friday afternoon the employee has nothing to do but lament about it over the weekend.

Plan the location. Choose somewhere private and away from other employees such as a boardroom. Avoid drawing attention to the event. Avoid a location which would require the employee to walk back through a highly populated area to collect their personal items.

Plan the message delivery. It should go without saying that this should be done in person – face to face. Decide who is going to deliver the message and do not presume this falls to your human resources person. The employee’s manager is the best choice. The manager should receive guidance on how to conduct a termination meeting. It is preferable to have someone else present to verify what is discussed in the meeting.

It is also important to deliver the message clearly and succinctly – ideally no more than 10 minutes. Do not engage in a conversation or debate about the reasons for the termination. Be firm and direct: here is the decision, here are the reasons, and here is the information on what happens next.

The person may cry or get upset. Have tissue available. Let it happen no matter how uncomfort-able you feel and also anticipate that the employee may need transportation home if they are too upset

As an employer, there are many reasons you may find yourself in the position of having to deal with an employee termination.

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to safely drive themselves. Allow the person to collect his or her personal effects after hours or on the weekend if they so choose. Have boxes available.

Plan communication to all staff. Notify other staff members as soon as possible after the termination providing a simple, neutral explana-tion being careful not to be critical of the employee. Also consider notifying customers and clients and assuring them the transition will be smooth.

Plan administrative matters. The em-ployee’s final cheque, including any vacation pay, should be available. If commissions or other monies are owed but not yet calculated, explain when and how this will be paid. Generally, the employer must issue a record of employment (ROE) within 5 working days.

You should review the company’s confidentiality policy with the employee. Consider the suspension of email accounts or passwords which allow access to sensitive company information to be arranged while the termination meeting is in progress. This may sound extreme and you can be the judge as to whether this is necessary.

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Terminating Employees [cont’d]

Karin Kirkpatrick is an Assistant Dean, Director of Centre for CEO Leadership at the Sauder School of Business, UBC. She is also a candidate completing Year 2 of the CMA Executive Program.

Seriously consider the provision of outplacement services as part of a termination package. This can go a long way to easing the employee into another role and reducing anger or resentment which they may feel. It also sends a positive message to remaining employees as to the value you place on your people.

Terminations are difficult regardless of your planning. They should be difficult. If they aren’t, you are the wrong person to be delivering the message. You are dealing with an event which is emotional and very much tied to a person’s sense of self and identify. Co-workers are often like family and being separated from that family can be traumatic. Tread carefully and approach it with an empathic yet direct approach. And remember, odds are that we are all fired at least once in our working lives.

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In the U.S., prosecutors expend vast public resources, lay multiple count charges, play hardball with unco-operative witnesses, and secure not only convictions, but also sentences that in many cases mean death in prison. There have been some high-profile setbacks including inexplicable acquittals and judicial censure for unconstitutional conduct. But overall, the pros-ecutors in the U.S. have secured convictions in the aftermath of many financial meltdowns including the Enron debacle and, most recently, the Hollinger/Conrad Black affair. Even Martha Stewart was convicted of obstruction of justice in a case where she was never even charged with committing a sub-stantive offence.

In Canada, convictions seem harder to achieve. John Felderhof was recently acquitted of charges relating to the Bre-X salting scandal by an Ontario Judge. Former RBC Dominion Securities investment banker Andrew Rankin was convicted of insider trading charges but his conviction was later over-turned on appeal. When convictions are obtained, sentences in Canada appear much shorter.

Obviously, there are differences in the criminal laws of Canada and the U.S. The source of much confusion in Canada is the focus on interstate activity in American federal proceedings. The accusations of mail fraud, transportation of goods across state lines and the like are used to establish Federal ju-risdiction under the Commerce Clause of the U.S.

Constitution. Beneath the terminology, however, there are few matters that are criminal in the U.S. but entirely lawful in Canada.

The dramatic differences in white collar crime culture are more institutional and procedural. The U.S. has essentially loaded the prosecution with many tools to persuade marginal defendants to take plea bargains and to persuade juries to grant convictions. Some of these tools are exotic levels of criminality, such as the expanded definition of racketeering organizations (RICO), which may now include a Governor’s office.

The past 20 years of “tough on crime” legisla-tion has created a wealth of offences with lengthy mandatory sentences that do not permit judges to exercise leniency in particular cases. Furthermore, the law relating to parole has been stiffened so that federal offenders must serve at least 85% of their sentence in prison.

The prosecutor’s vast discretion over whether to charge, and what to charge, has thus become a huge factor in plea bargain negotiations, and once a guilty plea is obtained from one defendant, the idea that nothing criminal occurred becomes a harder proposi-tion to present to a jury.

The practice of turning a co-accused against the principal accused through a plea bargain has proven a successful white collar prosecution tool. Indeed, the conviction of the co-accused lawyers and executives in

- North and South of the Border By D. Geoffrey Cowper, Q.C.

White Collar Crime

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Strategy Report

We have only recently become used to the Business Sections publishing financial results and criminal jury verdicts on the same page. Given the northern drift of many financial trends, Canadians can fairly ask: where is this heading?

™

Life. Money. Balance both.™Speak to me about your business and personal

�nancial needs.Gabriel LaiManager Business BankingVancouver Commercial BankingCentre & Main Branch

Direct: (604) 668-3033Fax: (778) 328-8630gabriel.lai@scotiabank.com

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the Conrad Black affair, unless overturned on appeal, will only add to the sense of dread any marginal defendant must face. In the Conrad Black case, co-accused Mark Kipnis received none of the impugned non-compete payments but was nevertheless found guilty by the jury as a party to the offence.

The almost invariable use of juries in criminal cases to determine guilt or innocence in the U.S.has always been a large factor in the differences between the two cultures. In Canada, the risks of a jury con-victing through the malign influence of envy or the understandable product of confusion over complex financial transactions are removed by the use of trials before a judge alone. The Reasons for Judgment in the Felderhof acquittal are longer than many novels. Appeal judges in Canada can review the soundness of a trial judge’s reasons and not simply the cryptic verdict of a jury.

In Canada, the absence of mandatory sentencing guidelines and judicial involvement in determining guilt or innocence means that charging those “at the scene of the crime” is more difficult and less effective. Although obstruction of justice is an offence here as in the U.S., its use to bolster or sustain an otherwise dubious prosecution is less likely to drive fear into the hearts of defendants facing a judge. Prosecutorial focus on an expensive lifestyle or baubles of the rich and famous would be out of place and counter-pro-ductive in Canada unless it directly related to the offence charged.

White Collar Crime [cont’d]

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On the whole, we should be grateful that prosecu-tors in Canada remain old-fashioned about their role. After the Felderhof acquittal, the prosecutor stated that her job was to fully and fairly present the facts - and that had been done. In the Conrad Black case, the prosecutors posed for photographers in a mock-up of “Law and Order”, and appeared transparently strategic and tactical in every aspect of the case with a view to obtaining convictions of each of the accused.

Serious and important questions are being raised in the U.S. respecting the fairness and effectiveness of this recent wave of white collar prosecutions. Perhaps the outcome of that debate will help shape the debate in Canada over the proper role and limits of the criminal law in relation to financial transactions.

D. Geoffrey Cowper, Q.C. is a recognized senior general counsel at the Vancouver office of Fasken Martineau LLP. Geoff is Chair of the Legal Services Society and the Province Chair of the American College of Trial Lawyers, and has lectured on topics ranging from commercial legal issues to constitutional law and current public issues.

Looking to hire a Certified Management Accountant with strategic financial management expertise that will help you achieve business success? Visit www.cmabcjobs.com today.

cmabcjobs.comThe new CMA BC job site has everything you’re looking for.

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There has been a lot of buzz lately about the dynamic created by having four generations in the workforce at once. Dozens of experts, myself included, have spent hours with businesses worldwide to help management better understand how to connect with employees by learning how a generational perspective can color the world and affect business relationships.

As I’ve delved more deeply into the generational conundrum, I’ve seen that not only are workplace relationships affected, but also the way companies do business overall. How do you communicate with vendors and customers who may be Matures, Boomers, Gen Xers or Millennials? What does this mean for your marketing message?

The same basic principle applies to both working with and marketing to any generation: If you meet them where they are, you can bring them where you want. Forcing change will get you nowhere.

You need to know where each generation stands—their values, views and characteristics—in order to craft a message that brings them closer to your company, product or service. Below is an overview of some issues to keep in mind with different generations.

Boomers Born between 1946 and 1964, Boomers are optimistic consumers who value a strong work ethic. Boomers grant credibility based on proven history. When addressing messages to Boomers, if your company is young, focus on the strengths of the company founders. If your product is new, speak to the company’s history of success. Find a way to say, “We’ve proven ourselves worthy of your attention and investment.”

Where am I going? We all know that the Boomers are beginning to retire—the business world is preparing (or should be) for a wave of leadership vacancies nationwide. This shift also means a shift in the way Boomers think about themselves and their own legacies. Craft a message that speaks to this hunger. Tell Boomers how your product or service will help them leave a legacy.

Why should I change? Boomers are often traditionalists. They may use technology happily or begrudgingly, but as a whole they view it as something to augment the old way of doing things, not replace it. Remember, too, this is a group that thrives on a proven history of success. Do not let your excitement about the new imply a disdain for the traditional. Instead, focus on how your offer will enhance what they are already doing.

Generation XBorn between 1965 and 1979, Gen Xers are a smaller generation—49 million compared to 80 million Boomers and 75 million Millennials in the U.S. —that has made a big impact. Raised in a world that appeared to be falling apart, they have always questioned authority and maintain a strong skepticism today. They are not easily impressed and want to know all the details before making a decision.

Oh yeah? I’ll see about thatUnderstand that Xers take nothing at face value and will seek out their own information and referrals. Look at your marketing as an introduction that directs them to further information. Make sure your web site is stocked with data and product specifications. Want to further your credibility with Xers? Point them to an unbiased resource and show them you’ve got nothing to hide. Remember, these are the folks who were born in the Watergate era and grew up in an age of highly publicized scandals. Honesty is unexpected yet highly treasured.

What’s with the attitude?Another way to address the cynicism of GenX is to poke a little fun at it. Gen Xers can laugh at themselves and will appreciate your direct approach, if done well. Be careful not to belittle the choices they make, but rather the cynical way they see the world. It’s all about the attitude.

Let me ask aroundGen Xers are influenced by real people. Peer-to-peer testimonials—especially at the grassroots level—carry tremendous weight. Xers invented the

Marketing to Different Generations: Choose your message wiselyBy Cam Marston

Strategy Report

Marketing to Different Generations [cont’d]

reader reviews and buyer feedback features of online merchants. They are not going to simply believe that your widget is the strongest, shiniest and most versatile widget known to man; they are going to logon and find out what the people who already bought your widget really have to say.

MillennialsBorn between 1980 and 2000, the Millennials are both direct consumers and influencers of consumers (their parents). As a whole, they are more optimistic and ambitious than the Xers before them. However, they are in a tricky spot right now as they slowly, and sometimes reluctantly, extricate themselves from their increasingly coddled childhoods and take on the world. They have been taught to look for the helping hand.

I’m unique—kinda sortaThe Millennials want to stand out from the crowd, without standing apart from it. From a marketing perspective, this means they want the same things their friends have, as long as they can customize it and make it their own. Successful brands and marketing campaigns—think Crocs and Jibbitz, or iPod—have given Millennials a way to individualize something that is seen as a “must-have” by their peers.

Where is everyone?Millennials as a whole are an inclusive crowd. They have been raised in a world of increasing diversity, and their optimistic nature wants to continue that. Because they ultimately trust their peers over any other source, they want to see their peers in your campaign. And this means diversity—economic, racial, social—is simply expected.

Now what?Millennials are incredibly active—frequently to the point of being stressed—and on the move. They look for the immediate application in everything. Marketing campaigns should include actionable information. Don’t simply tell them about a product; give them a code to use online to find out more. Let them feel like they are part of something bigger, and the information will be retained longer and hold more value.

One size fits someEach generation in today’s marketplace has a strong personality and perspective that drives decision making. Ignoring those differences can backfire completely, pushing away a generation of potential customers, or at the very least wasting valuable resources on a message that doesn’t fit. So while the rules of communication may change, the fundamental rule of marketing does not—know your audience, not just their household incomes or spending habits, but what they value and how they see the world. A generational perspective provides that understanding and helps make the connection.

This article was published in IABC’s CW Bulletin. Cam Marston is President of Marston Communications, and speaks to businesses worldwide about generational issues in the workplace. He is the author of ‘Motivating the “What’s In It for Me?” Workforce. www.marstoncomm.com

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CMA

If someone had said to me five years ago that I would be pursuing an accounting designation, I would have thought they were joking. My name is Geoff Bryant, and I am currently completing my business under-graduate in Entrepreneurial Leadership through Kwantlen University College. I grew up in Vancouver and moved out to Richmond for the majority of my elementary and secondary education.

As a graduate of the BCIT Marketing Management program, I was certain that marketing was the route intended for me. After working in Vancouver and the USA for a period of three years, I realized that my interests and career perspectives have changed.

I received mixed opinions from a variety of industry and academic resources when deciding which professional accounting designation to pursue. It was a professor in my business undergrad-uate program who said, “Geoff, you need to make sure that you make a decision that fits with your personality, goals and desired career outcome, and is not just based upon the accolade.” This statement could not be truer, in terms of higher education and the critical decisions that are involved in pursuing this next level in my future.

I had heard about the CMA program, but knew very little about it. I was also unfamiliar with the CA and CGA processes and outcomes. I decided that in order to make an effective and strategic decision, I had a lot of research ahead of me. I spent three months researching and conducting field work on all three accounting options. As it turns out, this was an extremely valuable process.

Once I understood what the CMA designation truly represented, I immediately knew that this was the fit for my personality, interests and future aspira-tions. The CMAs who I spoke with all represented a similar story. CMAs do so much more than just accounting. Strategy and management are equally important in the development and recognition of a Certified Management Accountant.

The other aspect which was important to me was the representation of the designation. Obtaining my CMA designation would allow me to work in a variety of industries, in different countries and in a multitude of organizational areas. The flex-ibility of choosing my work experience, as opposed to working in public practice, was another funda-mental reason why I chose CMA instead of CA or CGA. Although the areas of accounting and finance interest me, I have other interests that I will now

be able to pursue as part of my work experience options.

The areas of organizing finances, allocating funds in an efficient manner and devising a financial strategy for both consumers and organizations have always been fields that capture my interest. On a daily basis, throughout the various industry projects that I have prepared in my business undergraduate program and in my past work experience, I have found that most consumers and some organizations have very little understanding of what their revenue and profits represent on a monthly basis and what their future holds, financially speaking.

As a business undergraduate , in the Entrepreneurial Leadership program at Kwantlen University College, I see that a large percentage of consumers today are clueless about their financial situation, which for many reasons can lead them down a path of destruction, heartache and in the worst case, personal bankruptcy. The current business and consumer mentality that busi-nesses and consumers have today of “someone else will take care of it” or “I’m not good at math” do not serve as an excuse when it comes to understanding an organization’s or a consumer’s financial story. Some would view this as a weakness and a frustrating situation. However, I view this as an op-portunity to educate organizations and consumers about how financial efficiency is not impossible to achieve.

As such, my ultimate career goal is to open and operate a financial consulting/coaching practice. I want my practice to specialize in financial planning and strategy, debt re-construction, budgeting, and organizing the finances of individuals who say to themselves, “how did it get this bad?” There is nothing that I want more for my business then to help someone understand their financial situation well enough in order to see beyond the numbers. My business will focus on people first, then money, then things. The purpose of a business such as this is to paint an easy to follow picture for consumers, allowing them to start a new financial relationship with their capital.

On September 4th, I will be starting the remainder of the CMA pre-requisite courses. This will be the first step of many in obtaining my CMA designation.

Diary of a CMA in Training September 2007

Geoff Bryant, Dip. Tech, BBA

If someone had said

to me five years

ago that I would be

pursuing an account-

ing designation, I

would have thought

they were joking.

I look forward to learning more of the accounting theory and strengthening my aptitude in this area. I will have completed my full business undergradu-ate degree and all of the CMA pre-requisite courses by August 2008 at which point I will prepare for the CMA Entrance Exam in June 2009. As I start the CMA Strategic Leadership Program in September 2009, I look forward to gaining the insights and knowledge of my cohort and the facili-tators in the program.

I’m not exactly sure what the future holds, but I know that I am in control and hold the tools for my future success. The end tool and ultimate result will be calling myself a Certified Management

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Diary of a CMA in Training [cont’d]

Accountant, whereby I will think strategically and outside of the box. I am confident that entering into this next educational and professional venture will give me one of the most valuable assets one can have, options.

I invite you to follow my progres-sion through the CMA program over the next few years.

Why CMA?Over 38,000 CMAs and 10,000 CMA students across Canada and around the globe know how a CMA can change their life by opening the door to a competitive

income, a broad range of career opportunities and rewarding workplace challenges.

CMAs provide employers with the ideal balance of three essential and

interdependent business disci-plines: accounting, management and strategy. Supported by six functional and four enabling competencies, this powerful combination of skills defines the CMA’s unique value to an organization and makes the

CMA the designation of choice.The CMA Competency Map

and Framework identifies the com-petencies CMAs acquire, hone and

ultimately master over the course of their careers to perform in the CMA territory.

How to become a CMA:To become a CMA, you need to have a university undergraduate degree and complete the following steps:

The first step is completing the required courses that cover the CMA BC syllabus topics through a univer-sity or college or through the CMA Accelerated Program. Upon comple-tion, you will challenge the CMA National Entrance Exam, which tests your technical skills in management accounting, financial accounting, financial management and taxation.

Once you’ve passed the CMA National Entrance Exam, you will begin the CMA Strategic Leadership

Program (SLP), which focuses on the best of con-temporary and emerging management practices while developing the accounting, leadership, in-terpersonal, decision-making, and communication skills essential for today’s successful management professional. The final evaluation component is the CMA Board Report, where you will demonstrate through a presentation and written submission, your mastery of the knowledge and competencies to join the profession – and become a Certified Management Accountant.

Individuals who meet certain work experi-ence and education requirements may qualify for the CMA Executive Program or the CMA/MBA Programs.

Transcript Evaluation

University Degree

CMA Accelerated Program

SLP Phase I

CMA Strategic Leadership Program and Practical Experience

CMA Case Exam

Board Report

SLP Phase II

Required Courses through University or College

CMA National Entrance Exam

Blue indicates necessary steps

Red indicates optional steps CMA

Geoff Bryant, Dip. Tech, BBA

This is the first in a series of entries following Geoff Bryant’s career as he pursues the CMA designation.

Name: Paul RichardsonJob: Operations Manager for a small

manufacturing companyStudy Tips: Take the CMA FastTrack (now the Accelerated Program) and the exam prep courses offered through local colleges and universities. The exam prep course is particularly useful as not only does it test your knowledge, but it also mimics a timed exam setting which allows you to obtain feedback from the instructor on challenging questions. Keep up to date with the material. Form a study group and practice as many multiple choice questions as you can. Talk through any questions you have difficulty understanding.Stress Relievers: Mountain biking, hiking and making sure I was well prepared for the exam.Exam Strategies: Budget your time!! Read the question thoroughly. Start with your strongest subject and leave any questions you know will take a long time to complete until the end. Read the last sentence of the question first so you know what is being asked. This allows you to eliminate extra-neous bits of information right off the bat. Guess strategically on questions you do not know, cross off answers you know are wrong and take the best one left. Mark your answer on the scan sheet and the exam booklet as you go, that way if you

lose your place on the scan sheet you can figure out where you are. Take quick 30 second breaks to stretch and clear your head to keep you fresh for the duration of the exam. Eat a filling breakfast prior to the exam to avoid hunger pains.What took you by surprise: The exam was like I thought it was going to be, long and challenging, and the beer afterwards tasted great!!Additional Advice: Practice, practice, practice. The same types of questions from the practice exams come up in the exam. Knowing how to do the questions in a limited amount of time should enable you to have no trouble with the entrance exam.

Top PerformersCongratulationstothetop3outof125studentswhochallengedtheJune2007CMANationalEntranceExaminBritishColumbia:PaulRichardson(94%),BrentPeterson(91%),andMeredithYoung(91%).

2outofthe3aregraduatesoftheCMAFastTrackProgram(nowtheCMAAcceleratedProgram)andall3arefirst-timewritersoftheCMANationalEntranceExam.What’stheirnextstep?ToentertheStrategicLeadershipProgramandearntheirCMAdesignationbyNovember2009.

Here Paul, Brent, and Meredith share their advice on challenging the CMA National Entrance Exam.

Name: Brent PetersonJob: Infrastructure Planning Specialist for

Terasen GasStudy Tips: Plan and schedule study time with appropriate rest breaks. Be consis-tent and diligent. Relax and rest near exam time. Stress Relievers: Stress balls, exercise, and meditation.Exam Strategies: Practice doesn’t make perfect ... but goes a long way. Use syllabus requirements as a guide. Focus on areas needing improvement (and be confident in your strengths).

What took you by surprise: The CMA National Entrance Exam was not as intimi-dating as expected. The CMA FastTrack program (now the CMA Accelerated Program) augmented by the review program and practice exams provided a solid foundation.

Name: Meredith YoungJob: Special Assignment for Chevron

Canada Ltd.Study Tips: Work through the practice exams, but don’t be fooled if the questions seem to start getting easier – there are a lot of repeats on the different test exams. Do the practice exams in the time you would be allowed for the real exam. Timing yourself during the practice exams really helps to prepare for the time constraints on the real thing. Make a study plan and stick to it. That way, you will really be able to enjoy the nights you don’t have to study. Structure your studying around the CMA exam syllabus. The syllabus provides a good framework for the study plan and gives good hints for some of the defini-tion-style questions.Stress Relievers: I took some time everyday to get outside in order to break up my time between work and studying. It helped to clear my head and prepare myself for the next burst of studying.

CMA

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The weekend before the exam, I went to a cabin with some friends. Getting away and spending time with friends helped to take my mind off the exam and relax.Exam Strategies: I kept track of my time and made sure to stick to the “2 minutes per question” rule. If there was a question

Top Performers [cont’d]

CMAs at Electronic Arts – WORK hard and PLAY hardFrom a range of state-of-the-art sports fa-cilities including an outdoor soccer field, a beach volleyball court, and a fitness centre to several arcades, pool tables, and foosball units, Electronic Arts (EA) - the world’s leading interactive entertainment software company - has it all.

This August, CMA British Columbia took five students on a backstage tour to visit the game development studio in Burnaby, BC. These up and coming CMA students were winners of a High School contest held jointly between CMA British Columbia and Electronic Arts. Senior Manager, Accounting at EA Orson Low, CMA accompanied the students on tour.

Want to refine your job search? The Advanced Job Search function found at the bottom of the ‘Job Search’ page allows you to narrow your search by job type or employer type. For example, you can search for jobs that were posted by only employers as op-posed to recruiters.

that seemed like it might take a while, I left it and went back to it at the end of the exam. I made sure I knew exactly how to get to the exam, and gave myself a lot of time so that if I ran into any surprises, I had enough time to deal with them.What took you by surprise: Discovering how quickly four hours can go by; time management was crucial.

Additional Advice: Don’t try to cram 4 weeks worth of studying into 2 weeks. Make the effort to really understand the underlying concepts; just memorizing the mechanics probably won’t work.

cmabcjobs.com Key Tips

“EA is truly a remarkable place to ex-perience,” states Colin Bennett, CMA, FCMA – President & CEO at CMA British Columbia. “The company fosters a fun and dynamic high performance environment, and it is exciting for students to see the different departments work together in the

spirit of developing and sharing the world’s greatest interactive entertainment.”

“With Orson Low present at the tour, these students truly experienced how having a CMA designation can add value to every aspect of an organization and make business happen at EA.”

1 2 3Want to keep your options open? Make your resume available to employers and recruiters to view by creating an account and uploading your resume. Don’t want to reveal your online identity? Select the Confidential option in the ‘Create Resume’ or ‘Modify Resume’ section to hide all personal information. If recruiters are interested in your work experience, they can reach you via www.cmabcjobs.com.

Don’t want your employer to know that you are on the job market? Use the Blocked Employers feature found in the ‘Account Centre’ box. You may block up to 5 em-ployers from searching and viewing your resume.

Did you know… 289 jobs were posted on cmabcjobs.com during the month of July.

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Winners of CMA High School contest at Electronic Arts accompanied by Orson Low of EA and Bob Gautama and Peter Woo of CMA BC.

BCIT Alexander Bardas R. Glynn Spelliscy Award B.Tech Accounting Degree

Camosun College Kyla Fiddick ACCT 222 – Advanced Management Accounting

Capilano College Laura May Marian Easton Memorial Scholarship BFIN 431 – Advanced Management Accounting

Kwantlen University College Sonia Cameron ACCT 4720 – Advanced Managerial Accounting

Malaspina University College Dalyce Levesque ACCT 362 – Cost and Managerial Accounting II

CMA British Columbia Scholarship Fund 2006-2007Each year, CMA British Columbia awards 16 scholarships at 12 post-secondary institutions across British Columbia. These scholarships, each worth $1500 towards a remission of CMA fees, are designed to help emerging talent pursue a career in the CMA profession.

Graham Alce, CMA, FCMA

Robert Alexander, CMA, FCMA

Darryn Allegretto, CMA

Joan Axford, CMA

Shirley BakerWilliam Barker, CMA

John Baxter, CMA

Samuel Beale, CMA

Adrienne Bell, CMA

Colin Bennett, CMA, FCMA

Carl Bertholm, CMA

James Blatchford, CMA, FCMA

Bayne Boyes, CMA, FCMA

Ross Brearley, CMA

Margaret Briscall, CMA

Carol Bruvall Einarson, CMA

David Burke, CMA

Hana Carbert, CMA, FCMA

Lavinio Cavalcante, Willie Chan, CMA

Bob Cheng, CMA

Nevin Chernick, CMA

Kam Choi, CMA

Jack Chun, CMA

Diane Chung, CMA

Stinson Clark, CMA

Allan Cobbett, CMA, FCMA

John Connor, CMA

We thank the following individuals who made a donation to the CMA Scholarship Fund.

Note: If you would like to make a donation or if you have an employer offering a matching donation program, contact Sandra Record at 604.484.7006. 1.800.663.9646 ext. 7006, or sandra@cmabc.com.

Roger Cradock, CMA, FCMA

Paul Cumberland, CMA

Josephine Curtis, CMA

Alexander Dancs, CMA

Irwin DeVries Robert Douglas, CMA

Bruce Dunn, CMA

William Easton, CMA, FCMA

Lois Etherington, CMA (Hon.)

Evan Farrell, CMA

Gordon Farrell, CMA, FCMA

James Fedorak, CMA, FCMA

James Ferguson, CMA

Mitchell Ferguson, CMA

Dominic Fiore, CMA

Maureen Fizzell, CMA, FCMA

Victor Fowler, CMA

Arnold Fry, CMA

G.Arnold Fry, CMA

Bradley Goodwin, CMA

David Grace, CMA

Donald F. Hall, CMA

George Hartmann, CMA, FCMA

Rosemary Harvey, CMA

Warren Hastings, CMA

Howard Hayden, CMA

Peter Herz, CMA, FCMA

Don Hincks, CMA, FCMA

Daniel Ho, CMA

Gim Huey, CMA, FCMA

David Hunter, CMA

Ernest Iannacone, CMA, FCMA

Wayne Jefferson, CMA, FCMA

Norman Kam, CMA

Kenneth Karasick, CMA

Mark Kennedy, CMA

Ronald Kloess, CMA

Wayne Koch, CMA

Roman Kozak, CMA

Dennis Lam, CMA

Dennis Lawrence, CMA

Savo Lazarian, CMA

Lawrence Lee, AAT

Rick Lightheart, CMA, FCMA

Dong LiuGordon Loewen, CMA

Jim Logan, CMA

Gary Lotochinski, CMA

Gavin Low, CMA

Eric MacFarlane, CMA

Paul MahMia Maki, CMA, FCMA

Alan Mann, CMA

Neil McClelland, CMA

Shendi McGreen, CMA

Tom McInulty, CMA, FCMA

Okanagan College Helen Zhao Dick Lucas Memorial Scholarship BUAD 366 – Advanced Managerial Accounting

Simon Fraser University Mengxin (Simon) Gan WC Easton Scholarship BUS 478 – Strategic Management

Ho Pan (Bondy) Lau BUS 424 – Managerial Accounting II

University of British Columbia Ingrid Ka Wai Lau Lam A. Milne Memorial Scholarship COMM 491 – Strategic Management

Tai Yuan (Henry) Lo Tom Kennedy Memorial Scholarship COMM 454 – Accounting for Management & Control Incentives

Stephen McKayChristine McKinnon, CMA

James McLennan, CMA

Claire Milne Andrew Morrison, CMA

Leonard Nakishimada, CMA

Monique Ng-Cheong Sang, CMA

Don Nilson, CMA, FCMA

Sidney Norman, CMA

Edwin Palmer, CMA

Robert Pellatt, CMA

Rodney Penman, CMA

John Pickering, CMA

Yvonne Pinder, CMA, FCMA

John Podmore, CMA

Vincent Poon, CMA, FCMA

Frank Ramcharita, CMA

Sandra RecordDwight Reynoldson, CMA

Eric Robinson, CMA

Fri Rodli, CMA

Jason Schembri, CMA

Leslie Schindelka, CMA

June Seto, CMA

Velji Shah, CMA

Melinda Shum, AAT

Kenneth Smith, CMA

Russell Smith, CMA

Warren Smith Glynn Spelliscy, CMA, FCMA

Andrew Spence, CMA

Robert Strachan, CMA, FCMA

Kelvin Stretch, CMA

Kenneth Stuike, CMA

William Symons, CMA, FCMA

Robert Tanner, CMA

Garry Tatlow, CMA

Robert Taylor, CMA, FCMA

Ernest T. Tesluck, CMA

Alfred Thornley, CMA

Dominic Tsui, CMA

Felix Tung, CMA

Dorothy Turner, CMA

Robert Venema, CMA

Janice Wilson Daniel Wong, CMA

Peter Wong, CMA

John (Jack) Wray, CMA

Joseph Yau, CMA, FCMA

Tracey Yeager, CMA

Benjamin Yeung, CMA

Emil Zak, CMA

Naushad Zaveri

Thompson Rivers University Devon Marshall BBUS 425 – Advanced Management Accounting

Congratulations to these scholarship recipients.

CMA British Columbia Vice President of Accreditation Programs Irwin DeVries (left) with BCIT R. Glynn Spelliscy Award

Recipient Alexander Bardas (right)

CMA

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CMA Canada IFRS Implementation Seminar October 29 – 30, 2007 Sheraton Vancouver Wall Centre Hotel 1088 Burrard Street, Vancouver, BC

Do you work for a Canadian publicly traded company or a publicly accountable enterprise that will report under the International Financial Reporting Standards (IFRS)? Although Canada’s public companies are not required to convert to IFRS until December 31, 2011, you need to be planning for the conversion now. Otherwise, you risk issuing misleading financial statements, decreasing shareholder value, and losing market share.To prepare CMAs for this critical task, CMA Canada is holding a series of professional development seminars in major cities across the country, including Vancouver. Each two-day seminar, to be presented by senior personnel from Deloitte Touche, will enable you to develop a timely, well-organized and effective transition process to IRFS.The price for the two-day seminar is $1,495 for CMA Canada Members/Candidates, and $1,595 for non-CMAs, plus GST. To register online, contact 1.877.262.6622 or visit www.cma-canada.org. Hurry! Seating is limited. A maximum of 50 participants only can be accommodated.

Continuing Professional Learning & Development (CPLD) Oppportunities

Career Connections 2007

Thursday, November 1, 2007

Fairmont Hotel Vancouver 900 West Georgia Street Vancouver, BC

Networking begins at 5:00pm

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Please Note: The following list is for general information purposes only. This in no way constitutes a comprehensive list of eligible events. It merely suggests some of the offerings available. It does not in any way represent, constitute or imply endorsement, nor does it con-stitute a contract between the Society and any person or entity unless otherwise specified. Any links to external website and/or non-Society information are provided as a courtesy and do not constitute any endorsement by the Society of the linked web sites. The Society does not accept any responsibility for the information provided at the linked sites as to their accuracy or currency.

Visit cmabc.com for further CPLD opportunities.

Attend CMA BC Career Connections 2007 for the biggest, most exclusive career fair connecting:

BC’s best employers

BC’s brightest university & college students and graduates

BC’s top CMAs and CMA Candidates

Career Connections is an exclusive opportunity for you to discover how far you can go in business with a CMA designation. The best employers in British Columbia want to hear what you have to offer.

2007 International Financial Executives Leadership ForumOctober 3 – 5, 2007 Palais des congrès Hotel InterContinental, Montreal, Quebec

CMA Canada, the American Institute of Certified Public Accountants (AICPA), and the Chartered Institute of Management Accountants (CIMA) invite you to attend the first annual 2007 International Financial Executives Leadership Forum. This one-of-a-kind forum will feature outstanding international keynote speakers, expert panelists from around the world, and a range of plenary and concurrent sessions addressing critical global business issues facing today’s financial professionals. For the full agenda of the 2007 International Financial Executives Leadership Forum, and to register, visit www.ifelf.com.Note: Each pre-conference session qualifies for 4 CPLD credits.The main conference qualifies for up to 14 CPLD credits (full attendance required).Earn up to 22 CPLD credits!!!

“CMA Career Connections offers exceptional networking and employment opportunities for CMA members, as well as prospective CMAs. As a recent undergraduate looking for a rewarding and challenging career, I was offered a position at Lush Cosmetics through Robert Half at CMA Career Connections 2006. This event was an absolute success.”

- Erin Betts, CMA-bound student

Looking for an event that will take you to the next level?

Register today at www.cmacareerconnections.com or contact Shannon Thompson at 604.484.7023 or shannon@cmabc.com.

“Through our involvement in CMA Career Connections, we met several excellent CMA members and prospect-ive CMAs, which resulted in the placement of a number of these candidates with our client companies in roles to facilitate their career progression. We found CMA Career Connections to be a very successful and rewarding event. This was our first year participating and we look forward to attending again in 2007.”

- Jen Geddes, Divisional Manager, Accounting Advantage

Take the next step and register for CMA Career Connections 2007 today.

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CMA

Wewishtoextendoursympathiestothefamiliesandfriendsofthefollowingmemberswhohaverecentlypassedaway:

E.T Blaauw, CMA – Maple Ridge, BC

Mr. Blaauw received his CMA designation from Alberta in 1958. He worked in various positions for the Ministry of Finance in BC prior to retiring on March 29, 1995. He also volunteered as a Program Marker for the CMA Society in Ontario. On February 28, 2007, Mr. Blaauw passed away at the age of 84, having been a valued member for 49 years.Alexander W. Brown, CMA – Chilliwack, BC

Mr. Brown received his CMA designation from BC in 1960. He lived in England, Switzerland and India before settling in Vancouver, during which he worked for Rendell Tractor, Thorne Riddell and the Canadian Excise Department. He was a life long learner, having attained a UBC Master of Arts degree at the age of 75, and had a facility for many languages including Russian, French, and Hindi. He was also an active member with the CMA BC Society and was awarded the “Worthy Member Award” in 1966 and Life Membership in 1983. On May 24, 2007, Mr. Brown passed away at the age of 92, having been a valued CMA member for 47 years.Charles D. Crozier, CMA – Vernon, BC

Mr. Crozier received his CMA designation from BC in 1966. He held various management positions in the construction industry prior to retiring in 1982. On January 15, 2007, Mr. Crozier passed away at the age of 87, having been a valued CMA member for 41 years.

Member Terminations in 2005-2006

The following members have been terminated from member-ship and may no longer use the AAT/CMA designation:

AATDavid Bola – Delta, BCCoris Oi Mee Chan – Hong KongDawn Ford – Sooke, BCBo Gill – Prince George, BCShirley Hilton – Port Moody, BCDavid Morrison – Port Moody, BCJackie Martin – Squamish, BCTricia Ngo – Burnaby, BCLinda Nickel – Celista, BCValerie Stewart – Prince George, BCTwyla Todd – Surrey, BCNeena Verma – Vancouver, BC

CMAJean Briand – Norwalk, ConnecticutJohn Brodie – Victoria, BCEdward Brownson – Westbank, BCGino Cacciatore – Vancouver, BC

Welcome to these CMAs who are new members of CMA British Columbia:Anne Marie Beedle-Perks, CMA – Vancouver, BCDavid Crawford, CMA – Vancouver, BCRita Conroy, CMA – Kelowna, BCJames Herculson, CMA – Port Alice, BCJ. Lawrence MacKay, CMA – Cranbrook, BCChris McLean, CMA – Maple Ridge, BCAndrew McNevin, CMA – Vancouver, BCLen Rog, CMA – Victoria, BCWayne Shul, CMA – Issaquah, WADoug Stubbs, CMA – Penticton, BCConnie McGregor, CMA – Vancouver, BC

Welcome to these CMAs who are returning members of CMA British Columbia:David Dionne, CMA – Bellingham, WA

Irene Cheng – Hong KongMiu-Ling Brenda Cheng – Hong KongGuy Dagenais – West Vancouver, BCAnthony Furutani – North Vancouver, BCEldon Michael Guenther – North Vancouver, BCHenry Hnatiak – Covington, GeorgiaChi-Wai Lee – Hong KongMiranda Lui – Calgary, AlbertaLen McNeely – Port Moody, BCDonald Minuk – Vancouver, BCBryan Orr – Comox, BCKathleen Sayko – Vancouver, BCDon Shears – Delta, BCGeorge Yip – Coquitlam, BC

Our Members in Memoriam

New and Returning Members of CMA British Columbia

John J. Godber, CMA – Victoria, BC

Mr. Godber received his CMA designation from Ontario in 1960. He was employed as an Auditor with the Audit Services Bureau for the Federal Government prior to retiring in 1985. Mr. Godber passed away at the age of 92, having been a valued CMA member for 42 years.Douglas A. Proctor, CMA – Chilliwack, BC

Mr. Proctor received his CMA designation from BC in 1968. He worked for FBDD as a Case Counsellor prior to retiring in 1986. Mr. Proctor was very active with his local CMA Chapter and was awarded “Accountant of the Year” in 1974. On February 20, 2007 Mr. Proctor passed away at the age of 81, having been a valued CMA member for 39 years. Mervyn F. Thurgood, CMA – Surrey, BC

Mr. Thurgood received his CMA designation from BC in 1969. He worked as an Instructor at BCIT, Financial Management Division prior to retiring in 1984. On October 23, 2006, Mr. Thurgood passed away at the age of 84, having been a valued CMA member for 37 years.John Schenderling, CMA – Langley, BC

Mr. Schenderling received his CMA designation from BC in 1958. He worked in the manufacturing industry and then opened up his own accounting practice prior to retiring in 1993. He also notably offered tax services to seniors at no charge. On May 28, 2007, Mr. Schenderling passed away at the age of 82, having been a valued CMA member for 49 years.

Ifyou’dliketosendanoteofcondolencetofamiliesandfriendsofthesemembers,contactRickLightheartat604.484.7004,1.800.663.9646ext.7004,orrlightheart@cmabc.com.

We would like to apologize for not having informed our membership of designated member deletions since the Fall 2005 issue of Update Magazine.

Chapter Profile: Vancouver

CMA

The Salary survey of CMA designates with British Columbia (based on 2006 salaries) was completed late this Spring, with the highest participation of members in recent years. Results from the survey show a very healthy job market, which is also supported by activity on our provincial jobsite - cmabcjobs.com. The average salary (based on 75th percentile) in 2006 was $103,000 compared to the 2004 survey where CMAs reported $98,925.

The full report is posted on www.cmabc.com under the members section. You will need to log in using your user id and password.

Salary Review 2007

CMA British Columbia Chapters are an essential link in the Society’s relationship with its members and the local community. For each Chapter, an executive committee of CMAs is responsible for organizing and promoting activities to encourage member involvement, networking and professional development throughout the year.To recognize the efforts of these commit-tees and to learn about their upcoming initiatives, Update Magazine spoke with Ron Matthews, CMA - Chair of the Vancouver Chapter.Update Magazine will be profiling a local Chapter in every subsequent issue.

Can you give us a brief descrip-tion of your role as a Chapter Chair?As Chapter Chair, the main role is to seek out passionate CMAs who have a sense of their community and want to make a contribution. From there, it is a matter of supporting them in their efforts to organize events that are of shared interest to themselves and their fellow CMA Vancouver Chapter members. A great example is the monthly network-ing sessions that were started by Stewart Marshall – a long standing member of the Society. They are now a regular fixture in our Chapter and have been extended to periodic networking sessions in the Fraser Valley and Richmond areas. This all began with Stewart’s passion around networking that he shared with me at a CMA event where I first met him. Bringing together someone’s individual goals and areas of interest and sharing them with our broader community of CMAs is a main role as a Chapter Chair.

What are your impressions of the level of CMA brand aware-ness in Vancouver?I would say there is a high level of brand awareness in Vancouver, but it is still in the developing stages of emerging as a ‘differentiated’ brand. What I mean is we definitely make the list when it comes to an accounting position such as a Controller with the usual string of designations (CMA, CA, CGA). The ability of the mar-ketplace to understand the capabilities of a CMA regarding strategic leadership have

to be demonstrated by each of us every day. This takes courage and the ‘risk’ of leading change within our organizations. How to get (and maintain) that courage is a challenge we each face.

What are some of the upcoming Chapter initiatives in 2007?Our main goal for this year is to increase the number of chapter events. We want a diversified program that takes into account different locations and times so that we can reach out to all facets of the Vancouver CMA Chapter community. Within these events, we will have a combination of ‘social’ and professional development op-portunities. For existing CMAs, we hope the sessions and the network that they allow you to build will help them and their organizations. We find that inviting inter-ested candidates to our chapter events is a great way for them to understand ‘the brand’ and to make it their chosen path.

Why did you choose to get involved with the Society at a Chapter level?The choice of the CMA was straightfor-ward for me. I passionately believe that what you create internally in an organiza-tion - its processes, its people, its measures of performance - translate into the strategy in action. The CMA provides you with the tools to select the ‘right’ strategy and translate it into action whether it is for a team, a department, or an entire organi-zation. I became involved in the Chapter as a way to create events that help keep these tools ‘sharp’ for myself and our CMA community and to meet new and interest-

ing people. Finding and cajoling presenters for chapter events is a constant challenge with the people you meet along the way being the reward.

What advice would you give to a post-secondary student with an interest in pursuing a career in accounting or a CMA designa-tion?To some extent, the choice between ac-counting and CMA is to choose to enter two different worlds. With the vision of ‘accounting’, one can easily see a world of month-ends, quarter-ends, and year-ends. It leads to the same experience year to year. To choose the path of CMA is to execute on a vision that sees leading the team (even if you are the only team member) that finds and executes the ‘right’ strategy and actions for you, the team, the department, or the organization. It creates new experiences every day. The CMA lays the foundation that will give you the technical and lead-ership skills to be successful today and the next day, and the day after that. These skills are not bound to just an accounting role. To quote someone famous, “the future is unknown”. The CMA lets you be successful in our constantly changing world. If you are interested in getting involved with the Vancouver Chapter, please contact Ron Matthews at 604.340.2762 or ron.matthews@visiphor.com.

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i aCMA news�0 |

Teri AdamthwaiteJames Alexander, CMADoug AlleyBrian Anderson, CMAWayne Anderson, CMADavid AndruLalindra Anthony, CMAGowan Armstrong, CMAFerdinand Asturias, CMAAngela Au YeungSimon Ayres, CMALivleen Kaler Bains, CMAReena Bains, CMASheila Baker, CMAKulwinder Bal, CMABrenda Bartley-Smith, CMANicole Beach, CMA Carl Beck, CMATerry Becker, CMASandra Beauregard, CMACathrine Beck, CMA Terrence Becker, CMABruce Belsher, CMA, FCMAAllan Bencze, CMADouglas Bencze, CMAHeather Bepple, CMAMyron Berg, CMAJerome Berkson, CMA, FCMABradley Billings, CMALuz Billon, CMA James Blatchford, CMAKevin Blucke, CMA Anita Bodisch, CMAJim Boos, CMAJason Born, CMAKaren Botham, CMA, FCMASepand Boroumand-Jazzi, CMALance Bowerbank, CMABayne Boyes, CMA, FCMAKen Bradley, CMA

Ravinder Brah, CMABetty-Anne Brazier, CMAChristine Bricknell, CMADavid-John Bridgewood, CMAC.Margaret Briscall, CMA, FCMARobert Broekhuizen, CMAKathryn Brooks, CMA, FCMAMichael Brown, CMAMorley Brown, CMAArthur BrunnGeoff BryantGail Budd, CMAHarold Burgess, CMAShelley Bursill, CMAFelipe Calderon, CMADarell Campbell, CMA, FCMAWayne Campbell, CMAHana Carbert, CMA, FCMATrina Cassidy, CMAKimberly Caster, CMASandra Chamberlain, CMAColin Chan, CMAPeter Chan, CMAYvonne Chan, CMAShirley Chan, CMAHoward Chang, CMAWendy Chang, CMAJeffrey Chapman, CMAOliver ChawJohn Chen, CMATheodore Chen, CMA, FCMANora Chepil, CMALisa CheungSelena Cheung, CMADesmond Chew, CMAVince Child, CMAAngus Chiu, CMATricia Choice, CMAVivien Chow, CMAWendy Chu, CMADiane Chung, CMA

Felicia Ciolfitto, CMAMichele Clarke, CMAAllan Cobbett, CMA, FCMASherry Coffey, CMADoug Cole, CMAMaureen Collins, CMAJackie Collier, CMAThomas Conlon, CMALynda Cooper , CMAMeryle Corbett, CMARoger Cradock, CMA, FCMABradley Cruickshank, CMAAlexander Dancs, CMA, FCMADavid de Git, CMASandra Delayen, CMARosa Delgado, CMALucille Dempsey, CMARavinder Dhaliwal, CMAMark Doehler, CMARichard DolanGregory Doyle, CMAGerald Dragomir, CMAFlorence Dupont, CMAWilliam Easton, CMA, FCMAElaine Eccleston, CMASally Edwards, CMATimothy Edwards, CMACatriona Eigenfeldt, CMACraig Elder, CMAGlenna Ellerbeck, CMALois Etherington, CMAAnne Evans, CMAGraham Fane, CMA, FCMAEvan Farrell, CMAGordon Farrell, CMA, FCMAJames Fedorak, CMA, FCMAJames Ferguson, CMAMaureen Fizzell, CMA, FCMAJarra FordRobert Forsyth, CMA

David Fremantle, CMASteve Frey, CMASarpreet Gakhal, CMASabina GambhirRajesh Gandha, CMADoreen Gatt, CMATerence GelinasRene Gendre, CMABrenda Gendron, CMAKarin Gerke, CMAMark Gershon, CMALes Gilbert, CMAEllen Gilroy, CMADoris Good, CMABernadette Goudreau, CMANeil Gray, CMABill (William) Green, CMA Huijin Guo, CMADavid Hallinan, CMAWalter Halipchuk, CMAJacqueline Hamilton, CMA George Hartmann, CMA, FCMARon Heal, CMATina Heal, CMADavid Hendry, CMAPeter Herz, CMA, FCMA Leslee HicksDon Hincks, CMA, FCMAPatrick Hinds, CMASean Hodgins, CMAMarty Hoffman, CMADuncan Hollows, CMAG. Brian Hobson, CMA, FCMAJung-Tsun Hong, CMATracey Hoogeveen, CMALinda Howika, CMAJozef Hubburmin, CMARhonda Hunter, CMALisa (Thu) HuynhErnie Iannacone, CMA, FCMAGeraldine Isenor, CMA

Judy Jacklin, CMAAarif Jamani, CMARobert Janzen, CMATerry-Jo Jardine, CMAMehb Jessa, CMAMasroor Jilani, CMAElizabeth Jones, CMACliff Kanto, CMAHussam Kaddoura, CMAAl Karim Kara, CMAMehmud Karmali, CMALorne Kay, CMAG. Layne Kee, CMARichard Keller, CMABrian Kennedy, CMA, FCMAMark Kennedy, CMAPatricia Kennedy, CMA, FCMADiane Kerley, CMAGeorge King, CMARachel KitoDebra Kohler, CMASvitlana Krasalymova, CMAJeff Kroeker, CMA, FCMA David Kruyt, CMADeborah KuleshMaggie Kum, CMACaroline Lai, CMAMichael Lai, CMAShahinda Lakhani, CMASanjeev Lal, CMAGeorgina Lam, CMAWai Ping Lam, CMAErnest LangGeorge Lau, CMAA’Lana Laveck, CMAIan LawSteve Law, CMAMaureen Lazzari, CMAJohn Lebidoff, CMAGreg LeBlanc, CMA

Kelvin Lee, CMAOdetta Lee, CMAScott Lee, CMAStephen Lee, CMA Gary Leibel, CMAK C Leung, CMAMatthias Li, CMASammy Liang, CMAJeffrey Lin, CMAKaren LiuHolly Lodto, CMAAlec Logan, CMAAnita Loudon, CMA Andrew Louie, CMAJanine LoveOrson Low, CMABetty Lowe, CMAKelly Lownsbrough, CMAStephen Lukose, CMABelinda Lyons, CMADerek Ma, CMACathy MaDave MacdonaldDonnie MacDonald, CMABob MacKay, CMADonald MacKay, CMAArthur MacKenzie, CMAStuart Mah, CMAMia Maki, CMA, FCMAJoan Mar, CMAMichael Marek, CMARory Marshall , CMAStewart MarshallBlair Matheson, CMANorman Matthew, CMAKaren Matthews, CMARon Matthews, CMALaura MayRob Mayne, CMARick McCallum, CMAGraham McIntosh

Pauline Megannety, CMARobert Meggy, CMA, FCMAColette Mende, CMALarry Metz, CMA, FCMASean R.J. Monaghan, CMALuisa Monroy, CMADomenic Montagliani, CMA Tom Moody, CMA John Mould, CMA, FCMAKathy Murray, CMADebbie Musil, CMAEmily Nakai, CMAJoe Nardi, CMADavid Neate, CMAJoe Nessman, CMAAlexander Ng, CMAArtie Ng, CMARobert Nichols, CMA, FCMADon Nilson, CMA, FCMA Kathy Norn, CMAPeter Norwood, CMA, FCMAKirsten Odermatt, CMAMary O’Callaghan, CMATim O’Hara, CMATheresa Ohene-Asante, CMAJim Olsen, CMAWanda Olsen, CMADavid Olson, CMALeslie Orser, CMADane Ouellette, CMAAnders I. OuromYvette Pagnotta, CMAVictor Pang, CMAVicki Pannell, CMASuzanne Paquette, CMAJuliana Parker Mark Partridge, CMARobert Pellatt, CMAAlbert Penson, CMADebbie Pentecost, CMA

Lyndon Peterson, CMAEleatha Petrie, CMAJane Peverett, CMA, FCMASimon Philp, CMADave Pollock, CMACameron PorterDonna Porter, CMADonna Potter, CMA Terry Prechel, CMAMathew Pulakkavil, CMAKen Puls, CMAWendy Purvis, CMARoy QuinonesMichael Rassenti, CMAHeather Reedman, CMA Desmond Regier, CMAJoe Remedios, CMAKaren Roberts, CMA,Kathy Rogers, CMASonterra RossSilvia Rotenberg Buchman, CMAJason Rude, CMABob Rutherford, CMAReginald SabaSarah Sabo, CMASabina SaemannAl Sande, CMAHarjaap SandhuRudy Santanoe Tjahyana, CMAJeri Santarossa, CMA Jennifer Scott, CMALeonard Scott, CMAStephen Scott, CMATanya Sedlacek, CMASubhash Sharma, CMALaurie Sheehan, CMAMi Sun Shin, CMAPatricia Sibilleau, CMALorne Sisley, CMALori Jean Smith, CMAPam Smith, CMA

Terry Smuin, CMAArian Soheili, CMALynn Sparling, CMAJeffrey Sparling, CMAGlynn Spelliscy, CMA, FCMAAngie Stanta, CMAHeidi St. Denis, CMACecil Stoochnoff, CMABob Strachan, CMA, FCMAKelvin Stretch, CMA, FCMAShelagh Stromberg, CMARobert Stuart, CMA, FCMASusan Stuart, CMAPaula Switzer, CMAFaisel SyedEugene Syho, CMAYasmina Taghaoussi, CMAKayoko Takeuchi, CMAAnthony Tam, CMA, FCMANicholas Tan, CMARosalyn Tanner, CMARobert Taylor, CMA, FCMAMike Thiessen, CMATerry ThomasRichard Thorpe, CMA, FCMALouise Thrale, CMACorinne Timmermann, CMAShawn TomlinTammy Towill, CMASherry TryssenaarJohn Tse, CMASheldon Tse, CMAAva UlrichFrancis Uy, CMAJeff VanDenHeuvel, CMABarbara Vanderlinden, CMA Dorothy VanKoughnett, CMAChristine Veloso, CMARobert Venema, CMAMurray Vogt, CMA

Edmund Wang, CMASheng-Yang Wang, CMADawn Wedman, CMACarl Welt, CMACheryl Wenezenki-Yolland, CMA, FCMACynthia Wheten, CMACathy Whitehead McIntyreVerna Wickie, CMAJudy Wiebe, CMAHeather Williams, CMARon WilmsJanette WiskCatarina Wong, CMADaniel Wong, CMADennis Wong, CMAElbert Wong, CMAElizabeth Wong, CMAJack Wong, CMAJerome WongJoyce WongJimmy Wong, CMATania Worker, CMATerry Woo, CMATracy Wright, CMAMing Xiao, CMASin Cheong Charles Yam, CMACalvin Yan, CMAJoseph Yan, CMA, FCMALuwan Yang, CMAMichael Yarr, CMAWinston Yee, CMAChristine Yew-Teo, CMAJi Yoon, CMACarol Young, CMAIrene Young, CMAShahid Yusaf, CMAFred Zdan, CMA, FCMA

Thank you for volunteering with CMA British Columbia during the 2006-2007 year.

C M A U P DAT E | S E P T E M B E R 2 0 0 7 | C e r t i f i e d M a n a g e m e n t A c c o u n t a n t s | B r i t i s h C o l u m b i a | �1Thank you

You make the difference.