Name: Dr. Ron Guay
Title/Position: Faculty

Faculty Bio

Dr Ron Guay is a global accounting and finance scholar/practitioner who serves the private, public, and not-for-profit sectors (NFP) including multinationals, SMEs, sovereign governments, academia, and the accounting profession. His peers have recognized Dr Guay as an expert in many areas of the disciplines of accounting and finance who has taught virtually all accounting and finance courses. Dr Guay has been a trailblazer through the implementation of accrual accounting within the Government of Canada. Dr Guay’s creativity has led to designing the first set of consolidated financial statements and related accounting policies and practices for Canada with leadership contribution to Extended National Accounts, proprietary revolving funds’ model financial statements, valuation of tangible capital assets in the presence or absence of original cost information, and enabled sustainability (A4A) in the face of climate change through the identification, quantification, and reporting of contaminated sites. Dr Guay is a leader in accounting standards setting as a founding associate of the Public Sector Accounting Board (PSAB) of the Canadian Institute of Chartered Accountants (CICA) and a regular contributor to the formulation of CMA Canada’s (CMAC) Strategic Management Accounting Practices (SMAP) also known as MAGs (Management Accounting Guidelines), both for more than two decades. These MAGs were developed for CMAC, but later in conjunction with the Institute of Management Accountants (IMA), and thereafter with CIMA and AICPA. More recently, Dr Guay has represented CPA Canada (CPAC) and its 220K CPAs at the American Accounting Association (AAA) and its Management Accounting Section (MAS) for three consecutive annual conferences and meetings as a MAS executive committee member. Dr Guay continues to serve the accounting profession with the IMA’s Research Foundation (IRF) as an IRF executive committee member. Dr Guay’s quantitative, qualitative, and mixed method research and related designs and initiatives are an inspiration as the only researcher fostering innovation in bridging the gap between management accounting education and practice, the literature indicates. Dr Guay, his colleagues affirm, designs phenomenal Classroom Assessment Techniques (CAT) and questions to enable students to operate at the higher levels of Bloom’s Taxonomy, and creates answers for syllabi without provision of key responses. Dr Guay uses leading-edge accounting standards and practices with significant insights in the areas of Strategic Enterprise Management Frameworks; Contingency Reserve Funds for different types of entities; Valuation Approaches for tangible and intangible assets; Financial Statement and country (central) accounts, and Financial Reporting according to IFRSs, GAAPs, ISAs, FASAB, and GASB; Operationalization of Capital Leases; continued research and implementation of SMAPs, MAGs, MAPs, and SMAs; Cost Behavior, Analysis and Use; Corporate Performance Management; Implementing ISO 9000 (TQM) and 14000 (EMSs); Balanced Scorecard; Organizational Change, Development, and Management; Corporate and Thought Leadership, Business Processes and Operations; Outsourcing, Strategic Cost Management; Business Intelligence and Analytics, Value Chain Management; VCA, ABC/ABM, and ABB; Corporate Finance, Governance, and Enterprise Risk Management; Management and Internal Control and Costing Systems; Project Management; Benchmarking of the Finance function; Continuous Auditing and Monitoring; International Accounting, Currency Translation and Suitability of Methods; Forensic Work and Fraud Management; Cross-Border Mergers, Transfer Pricing, and Multinational Capital Budget; Foreign Exchange, and; International Banking. Dr Guay is a Doctor of Philosophy in accounting and finance, an MBA in strategic management with undergraduate studies in accounting and several earned accounting designations, CMA, CPA, CA of several denominations from institutes in North America, Europe, Australia/New Zealand, and Pakistan.