RECORDS MANAGEMENT TECHNICIAN (“RMT” CERTIFICATION)
In 2019 the RECORDS MANAGEMENT TECHNICIANS of CANADA was registered as a partnership. Our goal was to formalize our in-house training and provide an entry-level certification for records managers that met the needs of our partners and 3 stakeholder groups:
Each of these groups has different perspectives and needs. We’ll look at the value of the RMT PROGRAM from each group’s perspective separately.
Are looking to build experience and capability in a job that is meaningful to them. Their educational (and work experience) choices are really an investment in themselves. For them we will survey the field and use the principles of corporate finance to help understand the importance of the investment and the impact it can have on future earnings.
More important we will critically evaluate a variety of certifications and look at the importance of experience – and the unexpected – in framing a career.
In the first few years of operations, small businesses need to perform basic recordkeeping and regulatory compliance functions – while staying in business long enough to develop their critical operational skills.
This is a classic “make or buy” decision that can be lifted out of a management accounting text. We will look at how the make or buy analysis is structured and how their counterparts in slightly larger and more established businesses outsource parts of the accounting, tax compliance and finance functions.
SMALL CPA FIRMS
According to a 2019 study by CPA Canada, about 55% of CPA firms are sole practitioners. There is a demographic shift happening in which a great many practitioners are aging out, most without an effective succession plan.
Looking at data for incorporated accounting practices, it appears that our most profitable practices operate without staff – other than the incorporated employee listed on the masthead. This presents a problem for practitioners looking to retire.
For them the concept of “Just In Time” manufacturing – adapted to public accounting, has the potential to provide for an effective transition.