Waterloo's School of Accounting and Finance has received the highest level of national accreditation from CPA Canada, providing you with a direct pathway to the CPA designation.
The School's AFM and CFM program are recognized under the CFA Institute University Recognition Program. As a student, you will receive advance preparation to challenge the 3 CFA accreditation exams as early as Year 4 of the program.
At a glance
- Professional designations
- Application deadlines
- Academic requirements
- Admission Information Form (AIF)
- Repeated and Non-day school course(s) policies
- AFM Admissions Assessment (AFMAA)
- Offers of admission
- Application process
- Mature and International students
- Admission decisions
Chartered Professional Accountant (CPA)
In 5 years, you’ll earn:
- 2 degrees - an undergraduate degree in AFM or Biotech/CPA or Math/CPA and a Master of Accounting (MAcc) graduate degree
- up to 16 months of professional work experience which may be applied towards CPA’s 30 months of required relevant practical work experience
- the ability to write the Common Final Examination (CFE), the last exam for the CPA designation, immediately following successful completion of your MAcc
Your AFM or Biotech/CPA or Math/CPA + MAcc degrees fulfill:
- the academic course requirements for CPA Ontario
- the CPA Professional Education Program (CPA PEP, a 2-year program) that includes:
- the 2 CPA core integration modules
- 2 professional areas of study
- all 4 CPA elective modules are offered during MAcc
- the 2 CPA capstone modules
Certified Internal Auditor (CIA)
After completion of AFM in 4 years, you’ll earn:
- a Bachelor of Accounting and Financial Management (BAFM) degree
- up to 16 months of professional work experience where experiences in internal audit functions may be applied towards the CIA designation requirements
- advanced preparation for the CIA designation exam which you can challenge following successful completion of AFM
Chartered Financial Analyst (CFA)
In 4 years, you’ll earn:
- a unique degree that’s recognized in the marketplace - Bachelor of Accounting and Financial Management (BAFM) or Bachelor of Computing and Financial Management (BCFM)
- up to 16 (AFM) or 24 (CFM) months of professional work experience that can be focused in the area of finance
- the ability to challenge the CFA Level 1 and Level 2 designation exams by the time you graduate
APPLYING TO AFM
|February 1, 2018||
Deadline for submission of your AFM application through OUAC.
For students wishing to be considered for early offers of admission need to submit application through OUAC by January 11, 2018.
|February 1, 2018||
AIF and AFMAA deadline for students wishing to be considered for early offers of admission.
|February 1, 2018||Deadline for submission of your application through the OUAC website for all other students (105 application) wishing to be considered for May offers of admission.|
|Week of February 26, 2018||Early offers will be sent the week of February 26, 2018.|
|March 1, 2018||
Deadline for submission of your
|April 13, 2018||Apply for University of Waterloo entrance bursaries|
|W/O May 14, 2018||May offers will be sent the week of May 14, 2018.|
|June 1, 2018||Deadline to accept an offer of admission via the OUAC website.|
|June 15, 2018||Apply for OSAP.|
To be considered for the admission to the AFM program, you must minimally meet the following requirements:
- Ontario students: 6 Grade 12 U and/or M courses including
- Admission average: Individual selection from the mid-80s
- English (ENG4U) (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)
- Recommended courses: Principles of Financial Accounting, Mathematics of Data Management
- Not studying in Ontario? Search our admission requirements database.
- Completion of the Admission Information Form (AIF)
- Completion of the AFM Admissions Assessment (AFMAA)
We want to know more about you when we're making our admission decisions. The Admission Information Form (AIF) is Waterloo's way of looking at more than just grades.
The AIF is mandatory for students applying to the AFM program.
Applicants will be asked to provide explanations pertaining to any repeated courses, courses taken outside of your normal day school and extenuating circumstances that may have affected your academic performance.
Courses outside of your regular day school
We do not penalize students for taking courses outside of regular day school, so long as they are not repeated attempts. However, we discourage this practice, and ask that you explain their rationale on the AIF.
Admission is competitive, and our goal is to admit students who have the right preparation to be successful in a rigorous full-time program, not simply those with the best grades. Taking all courses through your regular day school provides the best preparation for success in university studies.
Due to a high level of competition, we strive to make our admission process as fair and unbiased as possible. Repeating courses in order to improve your average provides an unfair advantage, as compared to students who achieve high marks in their first attempts.
For this reason, repeating courses may result in a reduction of your overall admission score, which may also impact your eligibility for scholarships.
On your AIF, you will be required to provide an explanation for any repeated Grade 12 subjects. Exceptional or extenuating circumstances will be reviewed for an exemption from the penalty.
We understand if there have been extenuating circumstances that are out of your control that may have affected your marks. Provide us with an explanation of the situation/circumstance that had affected your marks. Note that if you don’t tell us, we can’t take it into consideration during your application review.
- extracurricular clubs and activities you've been involved with,
- participation in organized sports or other recreational activities,
- awards and accomplishments,
- participation in contests, competitions, workshops and conferences,
- part-time job responsibilities, and
- volunteer experiences.
The AFMAA is a required online assessment (additional fee required) that you will complete after submission of your application. AFM applicants are asked questions that cover a number of topic areas that may include academic performance, extra-curricular activities, leadership, community involvement, or interest in the study of accounting and finance.
More details will be made available in September/October.
Early offers of admission:
To be considered for early admission to the AFM program you must meet the early offers of admission deadlines.
Early offers of admission will be communicated: week of February 26, 2018
If you do not receive an offer of admission by late February 2018, don't panic! It simply means that the SAF requires additional marks before we can confidently make an admission decision for you.
We will hold onto your application file and you will be considered for May offers of admission.
May offers of admission:
May offers of admission will be communicated: week of May 14, 2018
To be considered for a May offer of admission you must:
- Apply for the AFM program through OUAC by February 1, 2018
- Complete and submit your AIF within 3 weeks of application
- Complete the AFMAA Interview by March 1, 2018
Our admissions process has been carefully developed to ensure integrity and equity for all applicants.
In addition to strong academic performance, we look for examples of a student’s strengths in areas such as communications and teamwork - skills which are key to success as a professional student.
With so many applications from highly-qualified students, the AFM admissions committee cannot consider revised or additional grades received after March 1, 2018.
Once you have applied to the AFM program through the Ontario Universities Application Centre, you'll receive 2 emails:
- An Acknowledgement email from Waterloo's Registrar's Office. This email will provide you with:
- your 8-digit Waterloo ID number
- instruction and link for you to create your Waterloo user ID and password
- instruction and link to completing your Admission Information Form (AIF)
- instruction and link on how to submit your transcripts and English Language documentation if you are a student currently studying outside of Ontario
- instructions and link on how to book a campus visit
- A Next Steps email from the School of Accounting and Finance. This email will provide you with:
Find out when your application and documents are due to Waterloo.
- The AFM program is not open to students who already possess an undergraduate degree, regardless of subject or discipline of major. If you already have an undergraduate degree, there are other graduate programs available through the School of Accounting and Finance that you may be interested in:
- The AFM degree requires completion of four co-op work terms. If you are a student studying on a VISA, you should know that some employers may impose hiring requirements. These may include:
- a provincial driver’s license
- prior Canadian work experience
- Canadian citizenship
- or a strong desire to remain in Canada to work.
While there are many relevant co-op paid job opportunities available for students to apply to and many resources available to assist students with their job search strategies, employers ultimately make all co-op hiring decisions and we cannot guarantee placement.
Review the Co-op Education web site, if it is your intention to return to your home country for a work term.