The Society of Certified Financial Accountants is a not-for-profit professional accountancy organization committed to the public interest through membership excellence.
The Society is chartered under Letters of Patent granted by the Federal Government of Canada.
We live in a global economy where business is transacted 24/7. Change has accelerated beyond predictions to such an extent that long term planning is now perceived in terms of months … and the individual result of all of this activity is needed by every business. This has increased the demand for Financial Accountants - in business enterprises, public and education sectors.
THE FUNCTION OF FINANCIAL ACCOUNTING
Accounting Standards and Principles are not static, but rather, they must be dynamic in order to respond to economic, business and social change. The core role of financial accountants is to develop and provide clear communication of reliable, relevant and objective information. This consistency throughout the profession is critical to maintain its solidness and credibility.
The Society actively continues its role as a professional iron girder by contributing to the foundation of international standards, upholding strong ethical values, and qualitative practices, and supporting members worldwide in all sectors of the profession.
Financial Accountants are responsible for controlling financial management of enterprises. Financial accountants do this by:
- Mining and interpreting information from the financial records for management decision making and for numerous other readers – shareholders, potential investors, financial institutions, employees, creditors, and regulatory / government agencies.
- Keeping informed about authoritative reporting standards and statutory compliance requirements, as well as knowing International Accounting Standards and their implications;
- Have key involvement in the IT architecture of internal and external business processing and reporting; both in the initial design and continual development;
- Ensuring involvement in the strategic direction and administration of the business, and properly supporting financial planning with decision making tools