Canadian Institute Of Chartered Accountants - CICA

AAA

DEFINITION of 'Canadian Institute Of Chartered Accountants - CICA'

A non-profit organization for accounting professionals in Canada. CICA has developed GAAP (generally accepted accounting principles) for Canadian accounting, and publishes guidance and educational materials on a number of accounting-related topics. It is one of the founding members of the International Federation of Accountants (IFAC) and the Global Accounting Alliance (GAA).

INVESTOPEDIA EXPLAINS 'Canadian Institute Of Chartered Accountants - CICA'

Founded in 1902, the CICA has grown to become the primary professional organization for chartered accountants in Canada. The institution was originally known as the Dominion Association of Chartered Accountants. As of 2010, the CICA boasts a membership of approximately 75,000 CAs and around 12,000 students both in Canada and Bermuda.

RELATED TERMS
  1. Beta Alpha Psi

    An honorary organization for financial information students and ...
  2. Association Of Government Accountants

    An association of accountants that work for the U.S. Government ...
  3. Institute Of Chartered Accountants ...

    A group of accountants and finance professionals who have met ...
  4. Chartered Accountant - CA

    An accounting designation given to accounting professionals in ...
  5. Accountant

    A professional person who performs accounting functions such ...
  6. Certified Public Accountant - CPA

    A designation given by the American Institute of Certified Public ...
RELATED FAQS
  1. Why would you use the TTM (trailing twelve months) rather than the data from the ...

    Public companies report their yearly financial statements along with an annual report. However, financial professionals are ... Read Full Answer >>
  2. Why is it important for an investor to understand business accounting?

    Investors use financial statements to obtain valuable information used in valuation and credit analysis of companies. Therefore, ... Read Full Answer >>
  3. What are the business consequences of using FIFO vs. LIFO accounting methods?

    If a company uses a first-in, first-out accounting method (FIFO), it's likely that its reported earnings will be higher than ... Read Full Answer >>
  4. How do you analyze inventory on the balance sheet?

    In accounting, inventory represents a company's raw materials, work in progress and finished products. Financial professionals ... Read Full Answer >>
  5. How are contingent liabilities reflected on a balance sheet

    Contingent liabilities need to pass two thresholds before they can be reported in the financial statements. First, it must ... Read Full Answer >>
  6. How do businesses determine if an asset may be impaired?

    In the United States, assets are considered impaired when net carrying value (book value) exceeds expected future cash flows. ... Read Full Answer >>
Related Articles
  1. Professionals

    Finding The Right Accounting Certification

    An accounting certification may be the boost your career needs. Find out how to get the most bang for your buck.
  2. Retirement

    Crunch Numbers To Find The Ideal Accountant

    The phone book isn't the best place to start your search. Learn some shopping tips here.
  3. Personal Finance

    A Look At Accounting Careers

    More than just crunching numbers, this career blends detective work with trouble shooting.
  4. Options & Futures

    Uncovering A Career In Forensic Accounting

    Does a job as a financial sleuth sound interesting to you? Dig in to learn more.
  5. Fundamental Analysis

    What is Quantitative Analysis?

    Quantitative analysis refers to the use of mathematical computations to analyze markets and investments.
  6. Economics

    Explaining Residual Value

    Residual value is a measurement of how much a fixed asset is worth at the end of its lease, or at the end of its useful life.
  7. Investing

    Fundamentals Of How Canada Makes Its Money

    In terms of industry, Canada is best known for oil and gas production, but the second largest country in the world has quite the diversified economy.
  8. Fundamental Analysis

    Why Last In First Out Is Banned Under IFRS

    We explain why Last-In-First-Out is banned under IFRS
  9. Economics

    Understanding Carrying Value

    Carrying value is the value of an asset as listed on a company’s balance sheet. Carrying value is the same as book value.
  10. Economics

    International Financial Reporting Standards (IFRS)

    International Financial Reporting Standards are accounting rules and guidelines governing the reporting of different types of accounting transactions.

You May Also Like

Hot Definitions
  1. Fisher Effect

    An economic theory proposed by economist Irving Fisher that describes the relationship between inflation and both real and ...
  2. Fiduciary

    1. A person legally appointed and authorized to hold assets in trust for another person. The fiduciary manages the assets ...
  3. Expected Return

    The amount one would anticipate receiving on an investment that has various known or expected rates of return. For example, ...
  4. Carrying Value

    An accounting measure of value, where the value of an asset or a company is based on the figures in the company's balance ...
  5. Capital Account

    A national account that shows the net change in asset ownership for a nation. The capital account is the net result of public ...
  6. Brand Equity

    The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. ...
Trading Center