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ISSUE 61 • May 31, 2011
Your e-connection to CGA-BC




CGA-BC PD

See our PD schedule for 2011.


Certificate In Executive Leadership

Make the most of your leadership potential and take your career to the senior executive level. Check out the CGA-BC Certificate in Executive Leadership—where leaders are made. Learn all you need to know about this exciting opportunity here.




Chapter PD

See which professional development seminars the chapters are presenting in June.
Member Dues and Public Practice Fees Due July 1

If you have not received your invoice already, please make sure we have your correct email address.


T1 Registration Reminder

If you are a CGA preparing individual T1 tax returns with or without schedules and charge a fee for this service, you are required to register this limited practice with the Association. Registration packages are available.

If you require further information, contact Sandra Domeikiene at (604) 637-6803 or toll free at 1 (800) 565-1211 ext 803.


CGA-BC Executives' June Presentations

Cindy Choi, CGA, First Vice-Chair, will be the featured speaker at Sidney By The Sea Rotary Club on June 2.

Bruce Hurst, FCGA, CGA-BC Chair of the Board of Governors, will address the Smithers Chamber of Commerce on June 16.

Mr. Hurst will be in Chilliwack on June 23 to speak to the Chamber of Commerce.

For more information, contact Tracey Tse.


Get the latest scoop on CGA-BC's hottest jobs...


Check Us Out on Social Media

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To find out what’s happening with the Association right now, follow us on Twitter. We’re tweeting daily. You can track what we’re up to whether you’re interested as a student, member, potential student, educator or member of the media.

You can also follow us as a fan on Facebook.


Subscribe Now to Your Chapter Newsletter

The best way to stay up-to-date on your chapter's activities and news is by subscribing to your online chapter newsletter. It's easy.

  1. Visit the Chapter Newsletter page of our website.
  2. Select your newsletter.
  3. Click on the orange RSS Feed button on the top right of the newsletter.
  4. Select the 'Subscribe to this feed' button to automatically receive new posts via email.

Now you won't need to remember to visit the newsletter online, the news will come to you.

 

Maintaining Public Trust

As part of CGA-BC's commitment to upholding our high standard of conduct, members and students are reminded to visit the Protecting the Public section of our website on an ongoing basis. Open to the public, this section relates to our commitment to transparency and full disclosure. It explains our ethics process and provides up-to-date information on public advisories and the latest disciplinary summaries.




Free In-person Tax Seminars

Did you know you can attend free events and seminars held by the Canada Revenue Agency (CRA) to help you understand your tax-related obligations or those of your client?

The CRA's popular tax seminars are held across Canada and give individuals, businesses, and their representatives important information about how to manage their tax affairs. Seminars for individuals include such topics as: seniors and income tax, the Child Disability Benefit, and newcomers to Canada. Seminars for businesses include topics such as: registering for a GST/HST account, payroll requirements, T4 slip preparation, and more.

Go to B.C. events to register for an event in your area.



New Routes to Professional Development

If you’re interested in webcasts, video seminars and online courses, it’s time to check out PD Net. Visit today and discover a wealth of opportunities on a huge variety of topics. You’ll find seminars on ethics, taxes, leadership and more. And all of these seminars are designed for working CGAs like you.
Views and Reactions to a Possible Accountancy Merger
Canada's Chartered Accountants and Management Accountants announced last week that they have reopened the possibility of a merger of their two organizations and are exploring the creation of a new accounting designation.

CGA recognizes the value of bringing our profession together and when we learned that discussions were underway between the CICA and CMA Canada, CGA approached them to explore the opportunity for unifying all three bodies. Despite our efforts to create a new vision for the profession, the CICA and Society set a number of pre-conditions which were not acceptable to CGA. Although CGA sought to find alternative solutions, the CAs and CMAs terminated discussions with us.

In order to keep CGA members, CGA students and prospective students up to date on the issue, we have created a special Working to Keep You Informed section of our website, including a link to Vision CGA, a special national website that facilitates ongoing discussion on the issue.

See Working to Keep You Informed, it includes:
  • Vision CGA - This CGA-Canada site provides CGAs, CGA students, potential students and others with information about the discussions that recently took place between the three professional accounting bodies in Canada on a potential merger. New documents are being added all the time.


  • CGA's Position on the Possible Accountancy Merger - An open letter from CGA-BC CEO Gordon Ruth, FCGA.


  • Discussion - You are encouraged to join in our open discussion forum.


  • FAQs - Answers to frequently asked questions regarding the possible merger.

  • CGA CareerView Blog - Some straight talk about the proposed merger.
'Quarter Centurions' Honoured for Careers Dedicated to Excellence


The Quarter Century Club celebrates 216 new members at its annual awards gala.
"Where have the last 25 years gone?" It was a question on the minds of many who attended the recent meeting of the Quarter Century Club on May 13.

The popular annual event celebrates the men and women who have achieved 25 years and, in some cases, 50 years of active CGA membership. This year, 216 CGAs qualified to join the celebrated 25-year club, another 17 qualified for the 50-year club, and many of them convened at the Sutton Place Hotel in Vancouver to mark their achievement.

The celebrations began with a presentation by Bruce Hurst, FCGA, Chair of the Association's Board of Governors, who recalled the importance of adding those three simple letters after each member's name. "Twenty-five years ago—or in some instances, fifty years ago for our Members' Emeriti—each of you walked across the stage at Convocation and received your CGA designation," Hurst told the members. "That singular achievement opened up a whole new world of opportunities, on both a personal and a professional level," Hurst added.

According to Hurst, today the collective achievements of members, along with their contributions to the profession and to their community have become pillars of the Association's success. He then spoke for a few minutes about some of the Association's achievements. "Today, surveys show that CGAs are well-recognized in B.C. and across Canada," Hurst said. "The designation, and the men and women who have earned it, have never been more highly valued for their expertise and their integrity." In addition to the high regard for the designation, Hurst also expanded on the many initiatives that members and CGA-BC staff have undertaken to ensure the designation continues to grow.

[Read More...]
Past Association President Kenneth Weaver, FCGA,
Was Renowned Accounting Educator
Kenneth France Weaver, FCGA, the Association's President in 1975, passed away peacefully at his home on May 15. With his passing, CGA-BC lost one of its great leaders and long-time promoters.

Born and raised in Vancouver, Mr. Weaver served in the Canadian Army during the Second World War in Canada and Europe. After the war, he attended UBC, where he earned his BCom in 1949.

Certified in 1953, just two years after the CGA-BC was founded by an act of the Legislature, Mr. Weaver was nominated as one of CGA-Canada's 100 CGAs Who Have Made a Difference in 2009. His nominators wrote: "Mr. Weaver's accomplishments demonstrated leadership, creativity, foresight and "a passion for life and for people."

[Read More...]
Independent Panel Offers Objective View on HST and
Costs Associated with Return to PST
A May 4 report by an independent panel that reviewed the advantages and disadvantages of the province's harmonized sales tax offers a fair and accurate analysis of the new value-added tax, Bruce Hurst, FCGA, the Chair of the Certified General Accountants Association of British Columbia said.

"The panel's comprehensive and balanced review of the HST shows that the tax will help boost our economy," said Hurst. The report noted that by 2020 it will add 24,400 better paying jobs, make our economy $2.5 billion larger than it would be under the PST, and produce $1.2 billion more in the export of goods and services. The Association has been a strong supporter of the HST as it will boost the province's competitiveness and makes good fiscal policy.

The report makes it clear that the issue of taxation is complex and rarely black and white. "The panel acknowledges that taxes are, in and of themselves, unpopular. But it is important for government to strike the right balance and to ensure a positive investment climate for job creation and economic growth while being able to adequately fund health-care, education and other programs," Hurst said.

"The introduction of the HST improves transparency and removes what had been a 'stealth' sales tax," Hurst noted. "In the days of the PST, businesses paid the seven per cent tax and simply passed it along to consumers, who then often paid PST again on top of that. The panel calls it the 'invisible PST.' With the HST, most businesses receive a credit on sales tax, which means they no longer pass it along to the consumer. This is a very important benefit."

According to Hurst, the panel did a wide-ranging assessment of the costs that the HST has added to a typical family. And it is clear that the lowest earners receive rebate cheques to offset the cost of the HST while the highest earners pay the larger share of the tax.

[Read More...]



Adopt Value-for-Money Measures to Rein in Health
Care Spending—CGA-Canada Report
Canadian hospital system's focus on outcomes alone proves inadequate.

From a May 11, 2011 CGA-Canada news release

Injecting tens of billions of dollars into Canadian hospitals with no value measures in place is an inefficient approach to health care spending, says a report from the Certified General Accountants Association of Canada (CGA-Canada).

"While more money can deliver more health care, it won't necessarily be better health care," says Rock Lefebvre, CGA-Canada's vice-president of research and standards. "Without value-for-money metrics, hospitals and governments can't know if they could have achieved better health outcomes had the same money been invested elsewhere in the system."

Highlights and the full report: Can We Get Better for Less? Value for Money in Canadian Health Care are available via the CGA-Canada website.

In 2010, hospitals in Canada received an estimated $55.3 billion - or 28.9 percent of all health care spending - making them the single largest component of health care spending by provincial governments. That spending - on staff, hospital beds, technology and the like - is predicted to soar, along with an aging population, longer life expectancies, and costly new innovations. One way to rein in that spending is to embrace value-for-money measures within the health care system.

[Read More...]
The CGA Running Team Wants You


To help us Run for the Kids at the Easter Seals 24 Hour Relay, June 18 and 19.

Each year, the CGA Running Team participates in the 24 Hour Relay for the Kids, and each year the team continues to excel by doing a remarkable job of running and fundraising.

This year's event will be at Swangard Stadium on the weekend of June 18 and 19 and marks the 26th year CGA has participated.

Last year, we received awards for being tops in the Accounting and Finance Division, for being fifth overall in fundraising for the entire event, and for most improved fundraising over $10,000 (we had raised a team record $20,531 by Saturday night, an incredible 192 per cent improvement.) In addition we received awards for having been in the Relay for 25 years and reaching the $200,000 fund raising achievement level. This is rare air indeed, for both longevity and for money raised. Only a few teams in Relay history have done this.

Funds raised go to the BC's Easter Seal Camps to help kids with special needs develop confidence through participation in specially equipped and staffed Easter Seal camps. As a result of your tax-deductible donations, week-long summer camp programs are offered to these kids at no cost.

Funds also assist:
Easter Seals Houses in Victoria, Vancouver and Prince George
Easter Seals Bus Transportation all over B.C.
Patient Care Grants for therapeutic equipment, prosthetics, transportation and accommodation
Bursaries and scholarships for students with disabilities.

Last year the Relay raised over $1,323,511. Will you join us this year? (Check out 24 Hour Relay for great pictures and to donate online.) The weekend will be a tremendously rewarding and fun experience. When you see the smiles on the kids you'll be glad you did!

For more information, please call Gary Mah, CGA, at (604) 254-2825(h) or (604) 983-6310 (w); or contact Ted Prutton, CGA, at (604) 584-1828(h) or (604) 525-8826 (w).
Canadian Anti-Money Laundering Institute and CGA-Canada Form Partnership
VANCOUVER, April 19 - The Canadian Anti-Money Laundering Institute (CAMLI) and Certified General Accountants Association of Canada (CGA-Canada) have partnered to give CGAs a fast-track to the CAMLI designation.

Under the agreement, CGAs can formalize their knowledge, understanding, and the application of compliance controls under Canada's Anti-Money Laundering and Terrorist Financing (AML/CTF) legislation. CGAs can access CAMLI's various training programs and the CAMLI-Practicing Associate (CAMLI-PA) designation, which recognizes professionals who are qualified to ensure a reporting entity meets its legal responsibilities.

"Currently, a combination of training, knowledge, and experience is used to assess the applicants for this professional designation," said Jennifer Wilson, CAMLI Registrar. "However, this professional partnership with CGA-Canada enables us, in recognition of the high professional standards required to attain the CGA designation, to waive the two years' experience in AML/CTF that is normally required to apply for the Practicing Associate designation."

"In recognizing the value of the CGA designation, CAMLI is offering CGAs an accelerated path for earning the Institute's credentials," said Anthony Ariganello, CGA-Canada's President and CEO. "This is great news for our members who want a more in-depth understanding of this highly complex field. It is yet another exciting education and training opportunity for CGAs."

For more information, visit www.camli.org, or email contactus@camli.org.
Changes to Public Practice Registration Effective January 1
Several changes made to the rules for entry into public practice became effective January 1, 2011. Highlights of these changes are:
  • Full registrations are now separated into two categories:


    1. Full Public Practice Registration - Assurance

    2. Full Public Practice Registration - Compilation and Tax.


  • In addition to attaining competence in assurance engagements, the Assurance category will require an experience assessment based on 1,250 assurance hours and 200 tax hours. If a member does not have sufficient competence and hours of experience prior to registration, he or she will be required to engage a mentor.


  • Tax 2 or Tax 2 Home Study course (or equivalent) is mandatory and is now a prerequisite requirement.


  • Auditing 2 or Auditing 2 Home Study course (or equivalent) must be completed:


    1. as a prerequisite for those registering in the Assurance category;
    2. on a post-registration basis for those registering in the Compilation and Tax category.

  • A comprehensive Competency Assessment Process will be used to determine a registrant's experience level.


  • The Case Study requirement, which examines a registrant's ability to research legislation impacting clients, became a prerequisite rather than a post-registration requirement.
All CGAs engaged in public accounting are required to register with the Association. See the "Register in Public Practice" area of the website for more registration details. To begin the registration process, contact Sandra Domeikiene at (604) 629-5396 or toll free
1 (800) 565-1211 extension 396.
CGA Principals in CA Firms Must Register in Public Practice
It has been noted that some CGAs who are principals in Chartered Accountant (CA) firms are unaware that they must register in public practice with CGA-BC. When a member is a principal or partner in a CA firm, he or she is classified as an "Exempt" practitioner. This means that the member is exempt from the CGA-BC Practice Review Program, as the Institute of Chartered Accountants practice reviews their firm. However, the member must still go through the registration process, including the prerequisite and post-requisite requirements.
Sun, Surf and CGA



Two very fortunate accounting students will be seeing much more than numbers this Fall when they take up residence in Barbados as part of CGA-BC's inaugural Caribbean co-op.

CGA's Global Careers Program and the Beedie School of Business Co-op at Simon Fraser University have joined forces to post two international CGA Co-op opportunities for the Fall 2011 work term.

"This is an incredible opportunity for two young business students," said CGA-BC's Jas Randhawa, Manager of Recruitment and Employment. "It's also a powerful inducement for students to learn more about our program and the opportunities that a CGA designation can make possible." Randhawa organized the co-op spots with CGAs in Barbados, with Caroline Wakelin, CGA marketing specialist for SFU Co-op.

The SFU business students who secure these positions will find themselves immersed in a challenging and rewarding CGA public practice work environment. In addition, the students will reap the benefit of their own personal CGA mentor who will provide professional guidance for the duration of the work term. What's more, once the students choose to enter the CGA Program of Professional Studies, their Caribbean co-op will count as valuable work experience toward the experience requirement. They will also have international business contacts and, if they play their cards right, enduring friendships and memories.

When not working, the two lucky students will enjoy all that Barbados's tropical paradise has to offer: warm weather, white sand beaches, turquoise sea, and a progressive yet still unaffected culture.

Students will have until May 25 to apply, and co-op recipients will be announced in June, when we'll interview them to get their thoughts on this life-altering opportunity.
Public Practice News
Next Vancouver Public Practice Speed Interview Night - May 31, 2011

The next Vancouver Public Practice Speed Interview Night will take place May 31, 2011. This free evening event is an efficient way for CGA public practice firms to hire staff.

If your firm needs to find quality staff quickly, consider participating in Public Practice Speed Interview Nights.

To register your firm, contact Anita Fortune. For job seekers, check CGAjobs.org for registration start dates.


Fees and Insurance Deadlines

Public Practice Registration Fees
Public Practice registration fees are due on or before July 1, 2011. Invoices for the Public Practice registration were mailed on May 2, 2011 by CGA-BC.

Professional Liability Insurance
Renewal of professional liability insurance is due on or before August 1, 2011. Note that, although August 1 is a statutory holiday, this is the final renewal date. The Association's insurer (AON Reed Stenhouse) will mail postcards to practitioners in early June as an insurance renewal reminder. Further details on the registration process will be released as they become known.

Penalties
An administration fee of $150 will be levied for public practice fees unpaid by July 1. A separate administration fee of $150 for failure to renew and maintain professional liability insurance by August 1 will be levied.

If public practice registration fees and/or professional liability insurance premiums remain unpaid 30 days after the due date, the member is without notice, deemed to have resigned from public practice unless written notice of extenuating circumstances is received within 30 days from the original due date.

Note that member dues are also payable on or before July 1 each year, after which a $150 administration fee applies. In accordance with Bylaw B114 (a), if annual dues remain unpaid after July 31, the member is without notice deemed to have resigned from membership unless the Board has accepted a written notice of extenuating circumstances. Members who have resigned are automatically deregistered from public practice as a Certified General Accountant.


Accounting Standard Changes for Private Enterprises

The Accounting Standards Board (AcSB) will be making two broad types of changes to the Accounting Standards for Private Enterprises (ASPE):
  1. annual improvements to clarify guidance or wording in the standards, or correct for relatively minor unintended consequences, conflicts or oversights
  2. major improvements
Both types of changes will be distributed as exposure drafts for comment prior to inclusion in Part II of the CICA Handbook-Accounting.


Annual Improvements

The Exposure Draft (ED), for the 2011 annual improvements was released last week and will:
  • be incorporated into ASPE in October or November 2011, and
  • be effective for fiscal years beginning on or after January 1, 2011.
The most significant inclusions are:
  • Section 1400, General Standards of Financial Statement Presentation
    To be amended to require an enterprise to designate one set of financial statements as its general purpose financial statements when it prepares more than one set of financial statements.
  • Section 3820, Subsequent Events
    To be amended to clarify the meaning of the date of completion of the financial statements, to be consistent with recent changes to Canadian assurance standards.

Major Improvements

The AcSB will make major improvements to ASPE every one to two years. The first set of these changes will be released in mid-to-late 2013, with an expected effective date no earlier than for fiscal years beginning on or after January 1, 2014.

Topics to be included in the first major improvements ED:
  • agriculture
  • consolidation
  • discontinued operations
  • employee future benefits
  • fair value measurement
  • joint ventures (possibly).
Each topic will be exposed separately over the course of 2011 and 2012.
Ethics in Focus
It's a case that could be titled, Ethics Aren't Optional. Render your judgment with Professor Michael McDonald, (CGA Hon.), the Maurice Young Chair of Applied Ethics at UBC, and we may publish your answer in the next issue of Outlook.

CGA Sam Silverman is in the crosshairs of some angry investors. Before joining the board of ABC Mining Explorations, Sam audited ABC. When he was invited to join the board, he received 100,000 shares as a director's fee, a fact he never disclosed to regulators. He then allowed his audit to be used as a comfort letter with securities regulators. After a brief dash on the OTC market, ABC has declared bankruptcy and angry investors are telling him he displayed a lack of independence and failed to disclose a potential conflict of interest. Sam says he never used the option so there was no conflict.

What do you say? Has Sam acted ethically?

Email your responses to edowning@cga-bc.org by June 2.
Practitioner Resources for Not-For-Profit Organizations
Private Sector NFPOs Frequently Asked Questions

Check out this time-saving resource. The Accounting Standards Board has released a Frequently Asked Questions listing relating to the new private sector Not-For Profits standards. It answers questions like "Can I adopt these standards early?"


Public Sector Decision Tree

Flowchart-Determining Basis for GAAP [PDF - 100KB]

A decision tree outlining the different classifications for a government organization and its appropriate basis of GAAP has been released to assist a government organization in applying the Introduction to Public Sector Accounting Standards.
Changes to SR&ED Claim Form
In June 2010 the CRA revised theT661 claim form and guide for claiming Scientific Research and Experimental Development (SR&ED) to reflect changes based on feedback received from SR&ED claimants and other internal and external stakeholders. This revision reflects further improvements made to the claim form in order to help the CRA expedite the processing of claims.

You may submit T661(08) or later versions of the form until July 31, 2011. Starting
August 01, 2011, only the new version, the T661(11), will be accepted for all tax years.

There will be an increased focus on documentary evidence to support submitted claims.
Okanagan CGA Receives Professional Service Award for Outstanding Service
Congratulations to Jim Zaffino, CGA. The Chief Financial Officer for the District of West Kelowna received the Professional Service Award for Leadership from the Local Government Management Association (LGMA) last Wednesday.

The award, presented at the LGMA's annual conference May 18 in Penticton, recognizes outstanding service provided to a municipality or regional district through the development of management procedures and programs which have resulted in significant cost savings and efficiency.

"During the five years that I have worked with Jim, I have found his service to be of the utmost quality and a key part of our success. He delivers on his promise to provide a balanced budget while still finding the required funding to provide much-needed services to our community," says Jason Johnson, Chief Administrative Officer. "Jim's staff are dedicated to him, as we all are. He would be the first to deflect praise and point to the efforts of his co-workers, but anyone who has had the privilege of working with Jim, knows that he is an extremely gifted accountant, a remarkably astute negotiator and a consummately dedicated public servant."

Zaffino, now in his 37th year as a municipal employee, began his career with the City of Penticton as a labourer in the Water Department and worked his way through the ranks to eventually become Deputy Treasurer in May 2000. In September 2006, he took the position of General Manager of Finance with the Regional District of Okanagan Similkameen. In February 2008, shortly after incorporation, Zaffino was hired as the Chief Financial Officer of the District of West Kelowna.

In 1991 CGA-BC recognized Zaffino's work on behalf of the North Okanagan chapter with the J.M. Macbeth Award of Merit.

"I wish the taxpayers of this municipality knew how much effort Jim puts in to protecting their interests. Council has continually asked Jim to keep taxes low for this community and he has found a way each year to do just that," says Mayor Doug Findlater. "This award from his peers is well deserved and it gives us a great reason to share our admiration for Jim publically. He certainly deserves it."
Association Sponsors CFA Professional Networking Day, June 9
Hear Jeff Rubin, author of Why Your World Is About To Get A Whole Lot Smaller present: "Is Growth Sustainable With Triple Digit Oil?"

Details
Location: Hyatt Regency Hotel Regency Ballroom 655 Burrard Street, Vancouver
Time: Registration 11:30 am; Lunch: 12 pm; Questions: 1:15 pm
Cost: $45 per person

Register online by Monday, June 6 at www.cfavancouver.com/event.

After almost twenty years as Chief Economist and Managing Director of CIBC World Markets, Jeff Rubin resigned at the end of March 2009 to publish his international bestseller, Why Your World Is About To Get A Whole Lot Smaller: Oil and the End of Globalization. His path-breaking book has now been published in over 15 countries and in seven different languages.

Internationally, Mr. Rubin is best known for his prescient calls on oil prices. He was one of the first economists in the world to accurately predict the rise of oil prices over the last decade to recent triple-digit levels. Why Your World Is About To Get A Whole Lot Smaller explores some of the broader implications of those prices, and how they will reverse globalization and lead to the re-emergence of more local or regional-based economies.

His many calls on the economy and financial markets, particularly with regard to interest rates and the Canadian dollar, earned him no less than 10 number one rankings in either the Brendan Woods annual survey of institutional equity or fixed income investors. The largest fund managers in North America, Europe and the Far East value his expertise, which he now shares with audiences worldwide.
Update to CGA-Canada's Elections E-Guide Released
CGAs are valuable members of any political campaign — especially as official agents and/or auditors, roles which demand expertise in finance, taxation and senior business leadership.

CGA-Canada Elections E-Guide 2011 is a practical adjunct to the Canada Elections Act, a valuable tool for those who audit federal political campaigns, either for general elections or by-elections. It also will help candidates and official agents to understand the stringent accounting and financial reporting requirements of the Act.

This 2011 revision incorporates the new Canadian Auditing Standards which came into effect in December 2010. Keep in mind that this guide does not constitute an official position of CGA-Canada and is not intended as a substitute for legislation, regulations or related documents.

See Elections E-Guide 2011 [PDF-1.5 MB]
CGA-BC Practitioners - You're Invited to the 2011 APPM in Victoria
The September 22, 2011 Annual Public Practice Meeting is your opportunity to connect with colleagues. Using roundtable discussions, topics covered will include:
  • converting to a paperless office
  • determining and meeting clients' needs and expectations for additional services, including identifying/developing new services and fee pressures/pricing of services
  • succession planning, including identifying and developing future owners/funding partner retirement
  • keeping up with changes in accounting and auditing standards
  • keeping up with and utilizing technology.
Join us for an interactive morning providing information, motivation and networking opportunities.

Register for this event at https://www.cga-bc.org/events-detail.aspx?id=21564.
B.C.'s Real GDP Rose 3.8% in 2010
From BIV Online

B.C.'s real GDP rose 3.8 per cent in 2010, outpacing a national rise of 3.3 per cent, Statistics Canada announced April 28.

B.C.'s growth follows the province's decline of 1.8 per cent in 2009.

Driving the provincial GDP growth was strong export demand, which led to growth in forestry, logging and manufactured wood products.

Growth in the mining sector also pushed GDP growth. Mining and oil and gas expansion grew by 33 per cent and coal mining increased by 27 per cent as energy prices strengthened.

The Olympic Winter Games also drove growth in sectors such as performing arts, spectator sports, accommodation and food services.

On the real estate front, construction advanced. But the house resale market retreated, leading to lower sales and output for real estate agents and brokers.

Nationally, Nunavut led the country in GDP growth, increasing 8.9 per cent, while Manitoba and Saskatchewan were at the bottom with increases of 1.4 per cent.

According to Statistics Canada, in most provinces in 2010, construction, mining and gas extraction plus manufacturing spurred goods production to outpace growth in services.

The national 2010 GDP rise of 3.3 per cent compares with 2009's decline of 2.6 per cent.
Blood Services Agency Offers Summer Bursaries to Students
Know any post-secondary students looking to make a difference in their community and a little extra cash at the same time? Encourage them to take part in this summer's Partners for Life Student Bursary Program, launching in the B.C. & Yukon Region on June 1.

Students enrolled in a Canadian post-secondary institution for the 2011/12 school year are encouraged to recruit a minimum of 20 donors (eight of whom must be first-timers) between June 1 and August 31 for the chance to win one of 10 $500 student bursaries.

Students can register up until July 15 by emailing tamara.sweet@blood.ca.

"This is a great opportunity for motivated students to help us fill our clinics throughout the difficult summer months," notes Tamara Sweet, Prince George Community Development Coordinator and organizer of this year's Student Bursary Program. "Please encourage your children, nieces, nephews, and friends to register for this brand new program!"
Business Competition Pays Dividends for Selkirk Students
Almost $6,000 in prizes awarded at CGA-BC-sponsored event.

Selkirk's Business Administration students squared off against one another at the college's sixth annual Business Competition held at its Castlegar campus at the end of the term.

First-year students competed for the best marketing campaign, while second-year students strove for best business case analysis. Working in teams, students prepared campaigns and business solutions ahead of time and gave 15-minute presentations to a panel of judges on the day of the event. Leaders from the local business community served as judges for the competition.

Krys Klimuk, named Judge's Choice for Top Student, values the business competition. "The annual competition has been the best experience for me at Selkirk. It gave me an opportunity to use everything I've learned throughout the school year in a single event."

It's also a multi-functional, active learning tool that simulates real-life business situations, explains Program Advisor for Business Administration, Tiffany Snauwaert.

"The competition gives students some business experience in a controlled environment. They get a chance to voice their ideas and solutions, learn interpersonal skills through working in teams, and practice presentation skills. Students gain a lot of confidence."

The Marketing Competition saw first-year students provide West Kootenay Habitat for Humanity with fundraising and awareness campaigns for a housing project about to start in Castlegar. Second-year students were challenged to consult on a handful of difficult problems at Roger's Chocolates. Their business case presentation was followed up with a surprise problem affecting the company for which the teams had only 45 minutes to prepare a solution and present it to industry judges.

Delighted winners took home almost $6,000 in cash, tuition credits and door prizes. All first-place team members received $125 in either cash or tuition credit. A dollar amount of $75 was awarded to all team members finishing in second place and each third-place winner collected $50.
CGA-Canada Gets Green Thumbs Up
Green business is good business says CGA-Canada Board Chair Joyce Evans.

The Certified General Accountants Association of Canada (CGA-Canada) has been recognized as one of Canada's Greenest Employers for 2011 by the editors of Canada's Top 100 Employers.

"We're happy to be recognized for our environmental efforts. Green business is good business and that starts at the top, with our Board and leadership team setting the environmental direction for the organization," said Joyce Evans, FCGA, CGA-Canada Board Chair. "We recognize that engaging our employees to make small changes every day can add up to significant green achievements."
Get Ready, IT's Coming...
CGA-BC's 2011 IT Forum Set for November 7 - 8



The business world moves quickly and technological change is a fact of life. CGA-BC's 2011 IT Forum will feature technology workshops that can provide you with practical IT information, technological expertise and the social media tools you require to take your career or business to the next level.

For more information, click here. [PDF - 1.1 MB]

To register, click here.
Member Benefits Program: Metropolitan Hotels
Make yourself at home in one of the Metropolitan Vancouver's 197 elegantly appointed guestrooms and suites, complete with spacious marble washrooms, separate glass showers and soaker tubs.

The hotel also offers 7,800 sq. ft. of dedicated conference and banquet facilities designed to accommodate 10 to 250 people. And, of course, nothing will satiate your appetite better than Diva at the Met restaurant, featuring Vancouver's finest cuisine, celebrated chef's table and distinguished wine cellar. Meeting room bookings include a dedicated conference services manager and meeting rooms with windows and outdoor terraces.

The hotel also has a 24-hour business centre; a fully equipped health club with indoor pool, whirlpool, sauna, squash court and PGA putting green; and a Four Diamond rated restaurant. In addition, the hotel received a "4 Green Keys" rating through the Green Key Eco-Rating Program. Convenient access is also available to transportation and Canada Line rapid transit to and from Vancouver International Airport.

2011 Certified General Accountants Association of BC Rates - Met Vancouver

Room Type: May 1 - Oct 31 Nov 1 - Dec 31
Deluxe $179 $149
Luxury King $199 $169
Junior Suite $299 $244
Black Out Dates: May 28-June 3, August 8-11, September 19-23, November 25-27 (inclusive). All rates are subject to 12 per cent HST, 2.24 per cent Room Tax and $8 per day per room facilities fee (includes in-room Internet access, local phone calls and access to the health club).

See the flyer.

To learn about the Metropolitan Hotel Toronto and the SoHo Metropolitan (also in Toronto), read more.
B.C., Washington State, Discuss Economic Cooperation
From the May 20 BIV Online

Washington state Governor Chris Gregoire and B.C. Premier Christy Clark met for the first time on May 19 to discuss how the state and province could work together to support job growth and forge closer cross-border ties.

Both leaders emerged from the meeting optimistic that they will be able to announce additional joint initiatives at this fall's B.C.-Washington joint cabinet meeting and Pacific Coast collaborative leaders forum.

Gregoire said, "Our relationship with British Columbia is unique and beneficial to residents on both sides of the border. The people of British Columbia are our neighbours, friends and partners in the global economy. We will continue to work together to protect our shared coastline, secure our border and create jobs."

B.C. and Washington state have built a unique and close relationship unlike any other state and Canadian province.

In 2010, trade between the two totalled $7.6 billion, making Washington B.C.'s largest U.S trading partner.

An estimated 23,000 vehicles cross the Washington-B.C.'s border every day. The state and province jointly pioneered the enhanced drivers licence to help simplify travel between the state and province. They have also joined together to promote mass transit across the border.

Ever since the 2007 memorandum of understanding on climate action between Washington and B.C., both have worked together to jointly reduce greenhouse gas emissions.

In February 2011, this partnership was strengthened with new agreements to limit carbon emissions from government operations and facilities and to promote awareness about the rise of sea levels.

Clark said, "British Columbia and Washington state share a common green agenda that includes a strong economy and job creation.
See Your Conference Brochure and Register for Victoria 2011
The 2011 Conference brochure and registration form was being mailed out to all members on Tuesday, May 24, but online registration is now available. Make sure to register early to avoid disappointment as the PD seminars are expected to sell out quickly. What's more, early birds who register before August 1 will receive a small gift.

Conference runs September 21-25.

See Conference 2011 for the Conference program and mail-in registration form, information on accommodations, the Conference schedule, things to do in Victoria, and a video invitation from the Conference Committee.

CGA-BC members and students also have the option of registering online.
Four-Hour Ethics Seminars Scheduled for 2011
The following seminar opportunities are for Making the Case for Ethics.

June 1
8:30 am - 12 pm
or
1 - 4:30 pm
Comfort Inn, Victoria
June 24
8:30 am - 12 pm
or
1 - 4:30 pm
Arbutus Club, Vancouver
Recruiting Events
May 31 BCIT Employment Session (Burnaby)
May 31 Public Practice Speed Interview (Vancouver)
June 1-3 GFOABC (Government Financial Officers Association of BC) Conference & Tradeshow (Victoria)
June 2 SFU Office Hours (Burnaby)
June 3-8 CACEE (Canadian Association of Career Educators and Employers)Conference (Niagara Falls)
June 6-7 Robert Alexander McMath Secondary School 'Joint Info Session CA/CGA/CMA' (Vancouver)
June 10 Capilano University Business Graduation Banquet (North Vancouver)
June 13 Connect at SFU (Vancouver)
June 14 SFU Convocation (Burnaby)
June 22 PEP (Partners In Employment) Showcase (Vancouver)
June 28 CGA In-House Evening Info Session