Accounting and Financial Management degree

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Overview

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Disruptive technologies are revolutionizing business. To compete, it's not enough to have a foundation in accounting and finance. You also need a broad understanding of technology, business analytics, sustainability, and innovation.

That's why you'll study at the intersections of accounting, finance, and business while immersing yourself in diverse topics that give you the flexibility to design your unique pathway. Dive into collaborative, problem-based courses, then apply your learning to the real world through co-op work terms and co- and extra-curricular experiences.

By cultivating an entrepreneurial mindset and leading-edge financial expertise, you'll be ready to positively impact global economies with new perspectives and solutions.

What courses will you take in AFM?

First-year courses

You'll gain a strong foundation in accounting, finance, and business starting from day one.

Plus, you'll develop the competencies today's employers demand – from technical skills to transferable ones, including problem-solving, communication, collaboration, and critical thinking.

September to December

  • AFM 191 – Introduction to Financial Reporting and Managerial Decision Making 1
  • AFM 132 – Introduction to Business Stages
  • ECON 101 – Introduction to Microeconomics*
  • AFM 111 – Professional Pathways and Problem Solving -- OR -- BET 100 – Foundation for Entrepreneurial Practice (students will be enrolled automatically, the other course is taken January to April)
  • AFM 112 – Analytic Methods for Business 1

January to April

  • AFM 182 – Introduction to Financial Reporting and Managerial Decision Making 2
  • AFM 121 – Introduction to Global Financial Markets*
  • BET 100 – Foundation for Entrepreneurial Practice -- OR -- AFM 111 – Professional Pathways and Problem Solving (the other course is taken September to December)
  • COMMST 111 – Leadership, Communication, and Collaboration
  • AFM 113 – Analytic Methods for Business 2

This a sample schedule. Courses or when a course is offered may change depending on availability.

*If you're interested in pursuing the analytics stream within the program, you must take CS 115 or CS 135 as an elective instead of ECON 101. ECON 101 would be taken in second year instead. If you receive an offer of admission, email safadvisor@uwaterloo.ca to discuss this option by mid-June.

*Students who pass CS 115 or CS 135 can choose to take AFM 127 in place of AFM 121.

After first year

After first year, 70-80% of the classes you'll take will be AFM courses. The number of electives you'll have will depend on the professional designations (i.e., CPA, CFA) or specializations (e.g., entrepreneurship, business analytics) you choose.

View all courses required for your degree.

Sample upper-year courses

AFM 241 – Impact of Technology on Business
AFM 362 – Corporate Taxation
AFM 373 – Cases and Application in Corporate Finance
AFM 433 – Business Strategy

Customize your degree in Accounting and Financial Management

Add additional areas of expertise to your degree by selecting one (or two) of the following career specializations.

  1. Professional Accountant
  2. Business Analytics
  3. Financial Markets
  4. Entrepreneurship Mindset
  5. Enterprise Performance and Risk

Only want to complete one career specialization? No problem. You can also include one or more of the minors available to all Waterloo students.

View "Accounting and Financial Management Program" on YouTube

Faculty:
School of Accounting and Finance, Faculty of Arts

Degree:
Bachelor of Accounting and Financial Management

Available as a co-op program?
Co-op only

Available as a regular program?
No

Available as a minor?
No

Pro qualifications. Accounting and Financial Management (AFM) provides a direct route to Chartered Professional Accountant (CPA) and Chartered Financial Analyst (CFA) designations. Complete our Master of Accounting (MAcc) program to get advanced standing for your Chartered Business Valuators (CBV) designation.

Top-level accreditation. Our School of Accounting and Finance has received the highest level of national accreditation through CPA Canada, as well as accreditation through the CFA Institute University Affiliation Program.

Co-op = relevant paid work experience

Waterloo's co-op program, the largest in North America, is an amazing way to explore potential careers, learn to interview for jobs, graduate with up to two years of valuable experience — and make money!

Co-op work-study sequence

Starting in second year, you'll normally alternate between school and work every four months, integrating your classroom learning with real-world experience. You can return to the same employer for a couple of work terms to gain greater knowledge and responsibility or work for different employers to get a broad range of experience.

Year September to December (Fall) January to April (Winter) May to August (Spring)
First Study Study Off
Second Study Co-op Study
Third Co-op Study Study
Fourth Co-op Study Co-op
Fifth Study - -

Your first work term will be halfway through second year (January to April 2027).

Learn more about co-op →

Sample co-op work terms in AFM

Here are three examples of what you might do during a co-op work term.

  1. Asset strategy co-op at a leading utility company – Collaborate closely with the tax team to identify process enhancements, contribute to tax provision preparation, and assist in the development and documentation of departmental projects and procedures.
  2. ESG student at a global asset management firm – Partner with the Environmental, Social, and Governance (ESG) team to drive advancements in ESG performance across various business operations. Responsibilities include compiling ESG data, monitoring performance metrics, and researching sustainability best practices.
  3. Sustainable investing at a prominent pension plan – Aid in formulating and executing the plan's sustainable investment strategy, with a focus on critical ESG issues like climate change and equity diversity. Tasks encompass conducting in-depth research on ESG focal points, analyzing company data, and supporting reporting endeavours.

What can you do with a degree in Accounting and Financial Management?

If you complete both the AFM and the eight-month Master of Accounting (MAcc) programs, you eliminate the need to take the two-year CPA Professional Education Program. Instead, you can proceed directly to the CPA Final Exam (CFE) as soon as you graduate.

As an Accounting and Financial Management (AFM) graduate, you'll build an impactful career innovating new business models, advancing social and environmental responsibility, and leading organizations to create positive, long-term change.

Graduates often pursue careers in finance, accountancy, consulting, and auditing to kickstart their careers. As AFM grads progress through their careers, they commonly work in consulting, finance, and accounting in banks, business advisory firms, insurance companies, and more.

Recent graduates

  • Senior accountant — KPMG
  • Financial consultant — Investors Group
  • Senior auditor — Royal Bank Financial Group
  • Program manager — Sun Life Financial
  • Sustainability analyst — GFL Environmental
  • Banking analyst — Euro Pacific Canada

Learn about the future of careers in business.

Tuition fees

First-year tuition

Type of fees Tuition (8 months of school)
Domestic (Ontario residents) $9,000
Domestic (Out of province students) $9,000
International (visa students) $57,000
  • For accounting and finance programs, tuition is significantly higher in your upper years.
  • Estimated amounts listed include incidental fees. Fees based on 2024-25 tuition rates.
  • Visit our financing page to learn about scholarships, estimate your total expenses, and see how co-op can help pay for your education.

Admission requirements

Ontario students: six Grade 12 U and/or M courses including

  • Any Grade 12 U English (minimum final grade of 75% is required)
  • Advanced Functions (minimum final grade of 75% is required)
  • Calculus and Vectors (minimum final grade of 75% is required)
  • Completion of the SAF Admissions Assessment (SAFAA)

Recommended courses: Principles of Financial Accounting, Mathematics of Data Management

Admission average: Individual selection from the mid-80s

Not studying in Ontario? Search our admission requirements.

How to apply

Apply directly to this program on your application.

Related programs

Computing and Financial Management

Biotechnology/Chartered Professional Accountancy

Mathematics/Chartered Professional Accountancy

Sustainability and Financial Management

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Questions about courses, programs, requirements, or careers?

Please email Kelly Millar, our recruitment and admissions coordinator, who can answer any questions you have.

From the Missing Manual blog