Accounting and Financial Management @ UWaterloo

[Sadiyah]

While conversing with a CGA at my workplace, I found out that UW’s Accounting and Financial Management could easily lead one to becoming a CA.

Follow is what I found on UW’s website:

Accounting and Financial Management

The Bachelor of Accounting and Financial Management (AFM) degree is a 4 1/3 year, one-of-a-kind professionally oriented, market-driven program. Once you successfully complete your provisional first year of study, you’ll be qualified for entry into second year in the AFM program.

Academic studies, hands-on learning, and work experience prepare you for a career in accounting or financial/business management. You’ll develop the technical and communication skills sought by today’s employers through core requirements and will broaden your outlook through arts-related courses and your specialization in a subject from another discipline or faculty.

Although AFM offers one common set of courses, you can focus your studies by taking a public accounting, management accounting, or finance specialization. And you can build your résumé through your work experiences in either the Public Accounting or Financial Management co-op sequence.

Upon graduation students may also choose to further their studies through our 8-month Master of Accounting program, which is fully accredited by the Institute of Chartered Accountants of Ontario.

If I’m not wrong, it sounds to me that after spending 4 1/3 years + plus another 8 months, one can become a CA through this program?

Are there any other universities in Toronto that offer similar programs?

Also, is becoming a CA a daunting challenge?

Currently I’m pursuing a diploma in Business Admin at a local college. I do plan on going to university after, so that I can get a degree in Business Admin. However, I also enjoy accounting (to an extent). Upon discovering that UW’s program could get me a CA (granted that I pass all my courses), I’ve been sort of double-minded.

Any suggestions?

[Sadiyah]

Re: Accounting and Financial Management @ UWaterloo

Here's the partial program description at Ryerson for BBA if I decide to get into accounting:

**
[quote]
Accounting**
This major is kept flexible to keep your career opportunities open upon graduation. We offer many of the courses needed to obtain a professional accounting designation, including chartered accountant, certified general accountant, and certified management accountant. We also maintain a close relationship with all the major accounting bodies to ensure a program that's current.
Course offerings include studies in financial and managerial accounting, auditing, public sector accounting, and international accounting. The curriculum is rounded out with courses that include marketing, management, human resources, information technology, finance, and decision support systems.
[/quote]

Would it take me another 8 months to become a CA (if I choose this option and pass all my courses) or could it be different?

[Lucid_Chaotic]

Re: Accounting and Financial Management @ UWaterloo

Sadiyah,
First and foremost, the AFM program at Waterloo is definitely one of a kind! It is very widely known for its rigor and also boasts among the highest success rate in CA along with Toronto and WLU.

From what I know about becoming a CA in the province of Ontario, there is a 51-credit hour requirement and the Institute of Chartered Accoutants publishes its Schedule of Courses Recognized for Institute Credit towards fulfilling the 51-credit hour requirement.

Here is the link to the schedule of courses for different universities:
https://www.ca2b.biz/U/thePath/creditGradeReq/ScheduleofCourses.cfm

Also, I’m not sure if you know, but in addition to taking specific courses at the University level, there is a work experience requirement (I think 24 to 30 months).

After you have all the courses and the 2 - 2.5 years of work experience, then you can sit for the profession’s Uniform Evaluation – the UFE exam which is taken over the course of three days and tests your professional competency.

Lastly, yes, becoming a CA is a challenging task and that’s why it is regarded as the premier designation that anyone can obtain in the Accounting profession. After attaining the CA designation, some people go further to specialize in Internal Auditing, Business Valuation, Insolvency & Restructuring, or Information Systems Auditing etc.

If you need more info, let me know… I teach at the School of Business & Economics at WLU and could potentially get you more info from there, and also my cousin is a CA, so I could put you in touch with him.

In the meanwhile, here are some websites for your perusal:

• http://www.ca2b.biz
• http://www.cica.ca
• http://www.icao.on.ca

Now: The 8-month thing is unique to Waterloo because if you get your undergrad form there, then you can finish their Masters in just 8 additional months. Once you do that, the ICAO considers you to have met all the prerequisites for writing the UFE and you can do that right away.

Hence, this 8 month thing is not exactly a standard with becoming a CA.

Edit: Links

[Sadiyah]

Re: Accounting and Financial Management @ UWaterloo

I don't think I'll be able to join the program at UW.

I'm thinking of transfering my credits to Ryerson after completing my diploma from college. There I look forward to pursuing accounting or management as a major (under business management).

The options that I have in mind so far are:
1. Accounting as a major under Business Management at Ryerson. Hopefully make an attempt to complete the necessary steps to write the CA exam
2. Management as a major under Business Management at Ryerson. Hopefully doing masters later on if I can.
3. Complete my degree in Business Management (B.Comm) are Ryerson. Then attend teaching school and become a teacher.