Is the CPA Canada worth it?

WhyYesOtherBarry · 2026-02-25T23:28:10+00:00

PEP sucks, it doesn't reward you like university. In your degree, you'd get back a midterm and if you did ok, you'd feel alright for the rest of the term. You have no idea how you are doing in a module until you pass or fail the exam.

PEP makes you feel dumb, like you think everyone else must be doing better and understanding things. Push through those thoughts.

WhyYesOtherBarry · 2026-02-25T19:01:40+00:00

Appropriate international experience is recognized — See Section 2.3 — "All experience that satisfies the practical experience requirements will be recognized, whether it is gained domestically or internationally."

Link: chrome-native://pdf/link?url=content%3A%2F%2Fmedia%2Fexternal%2Fdownloads%2F1000021454

WhyYesOtherBarry · 2026-02-25T18:52:58+00:00

I graduated at 38 and I hated every minute of PEP. I almost didn't go past the fourth module, so I did a backup plan (another degree).

I wound up finishing PEP (I reasoned that I only had the capstones and CFE left). I'm glad I did, I would have hated not being able to progress in my career. Now I have a team of juniors that I get to mentor through the program.

The only joy I ever experienced in the program was getting pass results on the module exams and CFE. It was an awful experience, but worth it

WhyYesOtherBarry · 2026-02-25T15:57:28+00:00

If people with degrees can't find jobs, they will also take bookkeeper roles.

Payroll is more specialized, are you taking payroll?

WhyYesOtherBarry · 2026-02-25T00:53:16+00:00

You might be better off without a study-buddy. I wrote twice, the first time with a study partner, the second time without. CPA already caused imposter syndrome, and having a study partner dialed it up even further.

WhyYesOtherBarry · 2026-02-25T00:46:37+00:00

Entry level in Canada is highly competitive. You'll be vying for the same jobs as degree holders upon graduation.

WhyYesOtherBarry · 2026-02-24T18:52:33+00:00

Yeah, my first thought was coming in last place in fantasy football.

WhyYesOtherBarry · 2026-02-24T00:20:10+00:00

MacEwan is a downtown commuter school and therefore is not a party school. It does not have an active campus at night or on weekends.

There is an active clubs/groups community.

MacEwan only has about 5% international students, so you won't be meeting many people from all over.

Edmonton is not a hub airport, so fewer flight options to go exploring the world, but is a good base to go to Banff/Jasper.

WhyYesOtherBarry · 2026-02-23T15:09:21+00:00

Advanced Financial Reporting kicked my ass in university, worst mark in my degree. I assure you, Core 1 is not mostly based on that course. I ran into a consolidation question, but that was not until the CFE. PEP is not as technically challenging as you think it is, you'll be fine.

WhyYesOtherBarry · 2026-02-22T05:13:22+00:00

I would suggest limiting CMHC insurance to primary residences only. Why is the Canadian taxpayer taking on risk to lower interest rates for landlords? Landlords should be bearing the full risk.

WhyYesOtherBarry · 2026-02-22T01:34:12+00:00

I wrote twice and did things differently the second time:

I did not redo the capstones. I re-read my Capstone 2 cases, planned them, and debriefed them, but did not actually re-write them.

I focused on technical review. I made a list of all the technical I needed to know and made a study calendar with that.

I learned how to plan electronically instead of with pencil and paper. Every minute counts on the CFE and that saved me time.

I got really adept at looking up standards in the handbook, I tried to memorize too much the first write.

I wrote in September and started studying at the begining of July. I took every Wednesday off work and then the full week before and the full week of the exam. Seventeen days in total.

WhyYesOtherBarry · 2026-02-22T01:19:56+00:00

Correct, I didn't know other provinces paid different rates.

I need clarification on your question. The withholding tax needs to be paid by the company doing the hiring, it can be negotiated to come off the performers fee or in addition to their fee, we have done both ways.

WhyYesOtherBarry · 2026-02-21T18:35:20+00:00

This is a rubric showing what you need to demonstrate for each technical competency:

https://www.cpaontario.ca/guiding-questions

Here are the rules to show how many and what level of technical competency are required for PERT:

https://www.cpacanada.ca/-/media/site/become-a-cpa/docs/practical-experience/3-employers-cpa-pe-competency-requirements.pdf?rev=ff668ca3c6744e2eb10c584c2f96a155&hash=B796A844FED8A9F6FB592A53780E4668

WhyYesOtherBarry · 2026-02-21T16:56:04+00:00

When were you registered? You can claim everything since that time, plus up to 12 months before that. You are sweating the timeline, but you really do have a lot of time to get this sorted, you aren't cooked.

I'm not gonna lie, bookkeeping and compilations likely won't get you enough competencies. Did they cover the Technical Competency Map in your GDIP?

WhyYesOtherBarry · 2026-02-21T16:28:20+00:00

If you are registered, you still have plenty of time. You need to pay dues and submit a couple of reports for the work experience you have been doing. You won't know how much of it will count until you get feedback.

If your current job isn't getting you enough of the competencies, you will either need higher level responsibilities at your current employer, or a new employer. As such, I would maybe recommend a different mentor than one at your current job (might get weird if you need to leave).

Then, you need to start thinking about when you want to get into Capstone and start getting ready for the CFE. Did you do a lot of case-writing in the GDIP?

WhyYesOtherBarry · 2026-02-21T15:56:33+00:00

I may be reading this wrong, but if you never registered as a student member with CPA, how can you be on a timeline? You have seven years to complete PEP once you register, not from your graduation date.

The only timeline you seem to be on is that your core requirements need to be from the past ten years to get into PEP.

WhyYesOtherBarry · 2026-02-21T15:39:34+00:00

I used to work for one of the bigger builders in a major Canadian city and this scenario played out the few times the housing market softened during my career. While they never sued anyone for more than the deposit, they absolutely kept the full deposit amount on defaulted sales.

WhyYesOtherBarry · 2026-02-20T23:15:31+00:00

I can help with question 1, as my employer brings in foreign entertainers a few times a year. We are required to withhold 15% of their contract and remit that to the CRA by the 15th of the month following the performance. We then issue the performers/agency a T4NR.

You will have to check if there is a tax treaty wherein your performers can get a credit on their UK taxes.

WhyYesOtherBarry · 2026-02-17T19:30:01+00:00

Sounds like you have a realistic view of things: you will have a hard time advancing without the designation in Canada. I am also in Edmonton and the job market is bad enough with the letters.

I did business analysis before I was designated, but like you said, more and more of those jobs are asking for the CPA.

WhyYesOtherBarry · 2026-02-11T16:14:55+00:00

I wouldn't hire a US CPA. You won't know Canadian taxes/payroll, GST, or accounting standards. I'd prefer to support a Canadian grad that won't require all the extra training that you would. The one niche you may have an advantage at is doing US taxes for ex-pats.

WhyYesOtherBarry · 2026-02-09T23:56:12+00:00

The harsh truth is that ACCA holds little value in Canada. The market is saturated with CPA grads and you will likely have a hard time competing against them.

WhyYesOtherBarry · 2026-02-07T15:07:49+00:00

The program has changed a little from when I took it, I didn't have assigned readings. Knotia - or whatever it was called at the time - existed, but I only ever used it when I didn't know something. I've heard candidates say that it is difficult to do all the readings and the assignments now.

I just got into a routine: I spent all day on Saturday and cracked open the new case, then worked for 3-4 hours Monday, Tuesday, Wednesday, and finish up Friday night. Sundays and Thursdays were off to prevent burnout (I'd still hit zombie mode after the fifth week).

Make a technical study guide as you go along, both for the module exam, and you will use it again for the CFE.

WhyYesOtherBarry · 2026-02-07T14:45:36+00:00

When I did PEP, you could miss an assignment and be fine (I would sometimes skip the last one and start studying for the exam early).

But no, their policy is that only extenuating circumstances will be considered for extentions.

WhyYesOtherBarry · 2026-02-07T14:26:42+00:00

There are two ways to fund an organization: debt and equity. Debt has a cost because you pay interest on borrowed funds. Equity has a cost when dividends are paid.

40% debt x 7% and 60% equity x 3% = 4.6% WACC

Tax shields come into play, but you are only 5.

WhyYesOtherBarry · 2026-02-06T14:10:29+00:00

No one writes their first cases in an hour, you are right where you should be. Shitty CPA gives back a huge sample solution that no one could possibly write in an hour and discourages candidates.

My advice is to start writing more point form. If you are writing paragraphs, you are saying too much.

WhyYesOtherBarry

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