University of Waterloo School of Accountancy
Encyclopedia
The School of Accounting and Finance (SAF) at University of Waterloo
is a professional school within the Faculty of Arts. The School was established in 1985 under the name 'School of Accountancy'. Its name was changed in 2008 to better reflect its program offering. The School has made important contributions to the development of the accounting profession in Canada. The faculty is a significant producer of accounting research and industry teaching material. Alumni hold leadership positions in public accounting, industry, government and academia. Today, nearly 1000 students are enrolled in the School's programs. In September, 2009 a new 52000 square feet (4,831 m²) building was officially opened to house the School.
The School of Accounting and Finance offers the largest accounting and finance undergraduate cooperative education
(co-op) program in Canada .
Most of the School's programs are uniquely accredited by Canadian industry associations. Access to exceptional faculty, advanced professional standing and the opportunity for paid work experience in between academic terms make admission to undergraduate programs administered by the School extremely competitive.
School of Accounting and Finance Programs: Bachelor of Accounting and Financial Management (BAFM) - Public Accounting, Bachelor of Accounting and Financial Management (BAFM) - Financial Management, Bachelor of Computing and Financial Management (BCFM), Master of Accounting (MAcc), Master of Taxation (MTax) and PhD in Accounting; Joint with the Faculty of Mathematics: Bachelor of Mathematics (BMath) - Chartered Accountancy and Master of Quantitative Finance (MFinance); and, Joint with the Faculty of Science: Bachelor of Science (BSc) - Chartered Accountancy.
Students in the BAFM Program may customize a degree so long as the basic minimum requirements set out in the BAFM Plan are met. Graduates of the BAFM program typically aspire to a host of professional accounting and/or finance credentials such as the Chartered Accountant (CA), Certified Management Accountant (CMA), Certified Public Accountant (CPA), Chartered Business Valuator (CBV) Chartered Financial Analyst (CFA) designation. BAFM candidates take an area of interest in a non-accounting/finance subject area along with accounting and finance courses. BAFM students/graduates are eligible to apply to the School's MAcc program.
Students in the BAFM Program must apply to one of two work streams upon application to the BAFM program. Changes to work term sequencing are typically not available to students in the BAFM Program. Students may obtain co-op employment deemed by a number of professional bodies to be qualifying practical experience for accreditation purposes. These sequences are:
Mathematics and Chartered Accountancy Co-op (MathCA)
Students in the MathCA program may customize a degree so long as the basic minimum requirements set out in Mathematics Chartered Accountancy Plan are met. Typically, students take math courses along with the accounting and finance courses. The work-term sequence in structured similar to the BAFM-PA schedule. Students in the program may obtain co-op employment deemed by professional bodies to be qualifying practical experience for accreditation purposes. MathCA students have access to the University's "Chartered Accounting" job posting and application cycle.
Graduates of the MathCA program typically aspire to a CA designation. In addition to preparation for CA accreditation, three study options are offered that allow students to explore complimentary areas: finance, actuarial science, and operations research management. Students who complete the Finance Option are highly prepared to pursue the CFA curriculum and accreditation process. Students who complete the Actuarial Science Option are suited to explore professional actuary exams. Students who complete the Operations Research Management Option are suited for specialized roles in public accounting, business or research. MathCA students/graduates are eligible to apply to the School's MAcc program.
Biotechnology and Chartered Accountancy Co-op (ScienceCA)
Students in the ScienceCA program take science courses along with the accounting and finance courses. Students are especially well-prepared for work in public accounting or with biotechnology-intensive businesses. Student take two of four co-op terms during busy season (Jan-Apr). Students in the program may obtain co-op employment deemed by professional bodies to be qualifying practical experience for accreditation purposes. ScienceCA students have access to the University's "Chartered Accounting" job posting and application cycle. Admission to the ScienceCA program is competitive. ScienceCA students/graduates are eligible to apply to the School's MAcc program.
Bachelor of Computing and Financial Management (BCFM)
This is new Program offered jointly with the David R. Cheriton School of Computer Science
in the Faculty of Mathematics. Students take computer science courses along with accounting and finance courses. Upon completion, these students will receive a unique degree in Canada. Students in this program typically complete six co-op work terms, with the first commencing between semester two and three. The work term sequence is: May-Aug, Jan-Apr, Sep-Dec, May-Aug, Jan-Apr and Sep-Dec. The first class is expected to graduate in 2011. CFM students/graduates are not eligible to apply to the School's MAcc program. CFM students are well-suited to pursue a number of professional accreditation in finance and/or advanced business or science degrees.
University of Waterloo
The University of Waterloo is a comprehensive public university in the city of Waterloo, Ontario, Canada. The school was founded in 1957 by Drs. Gerry Hagey and Ira G. Needles, and has since grown to an institution of more than 30,000 students, faculty, and staff...
is a professional school within the Faculty of Arts. The School was established in 1985 under the name 'School of Accountancy'. Its name was changed in 2008 to better reflect its program offering. The School has made important contributions to the development of the accounting profession in Canada. The faculty is a significant producer of accounting research and industry teaching material. Alumni hold leadership positions in public accounting, industry, government and academia. Today, nearly 1000 students are enrolled in the School's programs. In September, 2009 a new 52000 square feet (4,831 m²) building was officially opened to house the School.
The School of Accounting and Finance offers the largest accounting and finance undergraduate cooperative education
Cooperative education
Cooperative education is a structured method of combining classroom-based education with practical work experience. A cooperative education experience, commonly known as a "co-op", provides academic credit for structured job experience...
(co-op) program in Canada .
Most of the School's programs are uniquely accredited by Canadian industry associations. Access to exceptional faculty, advanced professional standing and the opportunity for paid work experience in between academic terms make admission to undergraduate programs administered by the School extremely competitive.
Programs of study
The School of Accounting and Finance offers three undergraduate programs, one post-bachelorette diploma, two graduate programs and one doctoral program. Additionally, the School jointly administers one undergraduate program and one graduate program with the Faculty of Mathematics and one undergraduate program with the Faculty of Science. These programs are:School of Accounting and Finance Programs: Bachelor of Accounting and Financial Management (BAFM) - Public Accounting, Bachelor of Accounting and Financial Management (BAFM) - Financial Management, Bachelor of Computing and Financial Management (BCFM), Master of Accounting (MAcc), Master of Taxation (MTax) and PhD in Accounting; Joint with the Faculty of Mathematics: Bachelor of Mathematics (BMath) - Chartered Accountancy and Master of Quantitative Finance (MFinance); and, Joint with the Faculty of Science: Bachelor of Science (BSc) - Chartered Accountancy.
Undergraduate Education
Bachelor of Accounting and Financial Management Co-op (BAFM)Students in the BAFM Program may customize a degree so long as the basic minimum requirements set out in the BAFM Plan are met. Graduates of the BAFM program typically aspire to a host of professional accounting and/or finance credentials such as the Chartered Accountant (CA), Certified Management Accountant (CMA), Certified Public Accountant (CPA), Chartered Business Valuator (CBV) Chartered Financial Analyst (CFA) designation. BAFM candidates take an area of interest in a non-accounting/finance subject area along with accounting and finance courses. BAFM students/graduates are eligible to apply to the School's MAcc program.
Students in the BAFM Program must apply to one of two work streams upon application to the BAFM program. Changes to work term sequencing are typically not available to students in the BAFM Program. Students may obtain co-op employment deemed by a number of professional bodies to be qualifying practical experience for accreditation purposes. These sequences are:
- Public Accounting (PA) Work Stream: Beginning in their second year of study, students complete three co-op work-terms (totalling 16-months) over the course of their undergraduate plan as follows: Jan-Apr, Jan-Apr and Jan-Aug. Students in this work stream (along with those in the Math CA and Science CA undergraduate programs) have exclusive access to a bank of CA co-op jobs in the Public Accounting sector via the University's job posting and application service called "JobMine" http://www.jobmine.uwaterloo.ca/.
- Financial Management (FM) Work Stream: Beginning in their second year of study, students complete four co-op work-terms (totalling 16-months) over the course of their undergraduate plan as follows: Jan-Apr, Sep-Dec, Sep-Dec and May-Aug. Students in this co-op work stream may apply to co-op roles via the University's "Main Group" job posting and application cycle. Students in the Financial Management stream MAY NOT apply to roles in the University's "Chartered Accounting" job posting and application cycle. Some students have voiced concern over this matter, claiming that since all BAFM students are able to select courses from the same curriculum agenda, restriction from the "Chartered Accouting" job posting and recruitment cycle is unfair. The School maintains that access to this recruitment cycle is based on the demand for CA-accredited co-op employment in the public accounting area and that the supply of BAFM-PA, Math CA and Science CA students is sufficient to meet the demand.
Mathematics and Chartered Accountancy Co-op (MathCA)
Students in the MathCA program may customize a degree so long as the basic minimum requirements set out in Mathematics Chartered Accountancy Plan are met. Typically, students take math courses along with the accounting and finance courses. The work-term sequence in structured similar to the BAFM-PA schedule. Students in the program may obtain co-op employment deemed by professional bodies to be qualifying practical experience for accreditation purposes. MathCA students have access to the University's "Chartered Accounting" job posting and application cycle.
Graduates of the MathCA program typically aspire to a CA designation. In addition to preparation for CA accreditation, three study options are offered that allow students to explore complimentary areas: finance, actuarial science, and operations research management. Students who complete the Finance Option are highly prepared to pursue the CFA curriculum and accreditation process. Students who complete the Actuarial Science Option are suited to explore professional actuary exams. Students who complete the Operations Research Management Option are suited for specialized roles in public accounting, business or research. MathCA students/graduates are eligible to apply to the School's MAcc program.
Biotechnology and Chartered Accountancy Co-op (ScienceCA)
Students in the ScienceCA program take science courses along with the accounting and finance courses. Students are especially well-prepared for work in public accounting or with biotechnology-intensive businesses. Student take two of four co-op terms during busy season (Jan-Apr). Students in the program may obtain co-op employment deemed by professional bodies to be qualifying practical experience for accreditation purposes. ScienceCA students have access to the University's "Chartered Accounting" job posting and application cycle. Admission to the ScienceCA program is competitive. ScienceCA students/graduates are eligible to apply to the School's MAcc program.
Bachelor of Computing and Financial Management (BCFM)
This is new Program offered jointly with the David R. Cheriton School of Computer Science
David R. Cheriton School of Computer Science
The David R. Cheriton School of Computer Science is the School of Computer Science at the University of Waterloo. Part of the Faculty of Mathematics, the school comprises 77 faculty members, nearly 300 graduate students, approximately 2100 undergraduates, and 55 staff members.-History:In 1965,...
in the Faculty of Mathematics. Students take computer science courses along with accounting and finance courses. Upon completion, these students will receive a unique degree in Canada. Students in this program typically complete six co-op work terms, with the first commencing between semester two and three. The work term sequence is: May-Aug, Jan-Apr, Sep-Dec, May-Aug, Jan-Apr and Sep-Dec. The first class is expected to graduate in 2011. CFM students/graduates are not eligible to apply to the School's MAcc program. CFM students are well-suited to pursue a number of professional accreditation in finance and/or advanced business or science degrees.
University Reputation
- According to Maclean's University Rankings., University of Waterloo ranks #1 in the following categories:
- Best Overall
- Most Innovative
- Best Source of Leaders of Tomorrow
- The Globe & Mail gave the University of Waterloo the followings grades in its 2007 annual report card.
- Reputation amongst employers = A+
- Academic reputation = A
- Quality of education = A-
- Libraries = A-
- The Mathematics & Chartered Accountancy and Biotechnology & Chartered Accountancy programs are some of the most competitive in Canada..
- The Mathematics program admission process is based on individual selection from students with a minimum fourth year high school average in the low-90's. In 2009, around 900 applicants applied for 80 spots.
- The Biotechnology program admission is based on individual selection from students with a fourth year high school average in the mid-90's. On average, 10 to 15 students are admitted to the program.