Bachelor of Accounting & Financial Management

Chartered Accountancy/Business and Finance Co-op Work Option


In the WPA and WFM co-op work option, you'll gain the knowledge and skills needed to prepare for one of three possible professional designations - Chartered Accountancy (CA), Certified Management Accounting (CMA), or Chartered Financial Analyst (CFA) - depending on the Specialization you choose.

In your first year,all AFM students follow the same academic path,meaning all first-year courses are exactly the same. Check out the course sequencing for an indepth look at the courses you'll be taking throughout your academic career.

Both Chartered Accountant and Business and Finance co-op work option students will be exposed to different areas within accounting and finance during this first year. Based on your desired career path, you will select to specialize in one of three different areas to help further customize your degree and to gain exemptions and designation fulfillments.

  • Public Accounting Specialization - Select this specialization if you wish to pursue a CA designation that's relevant for Ontario or Western Canada. Students who specialize in Public Accounting and continue to complete the Master of Accounting (MAcc) program, gain exemptions and designation fulfillments that have met the ICAO's: 
    • 51 study credit hour requirements, and
    • up to 16 months of the 30 months of qualifying work experience;

      For students who choose this Specialization and continue to complete the Master of Accounting (MAcc) program, these students will gain and be exempted from:
      • the Core Knowledge Exam (CKE), and
      • the ICAO School of Accountancy (SOA) program

        • NOTE: Students who wish to practice in Western Canada would be eligible for the same designation fulfillments and exemptions through CASB.

  • Management Accounting specialization - Select this specialization if you wish to pursue a CMA designation. Students who specialize in Management Accounting gain exemptions and designation fulfillments.

    For students who choose this Specialization and continue to complete the Master of Accounting (MAcc) program, these students will be further exempted from:
    • the CMA Entrance Examination, and
    • the residency portion of the CMA Strategic Leadership Program, and
    • graduates are considered to have met: up to 12 months of the 24 months of qualifying work experience

  • Finance specialization - Select this specialization if you wish to pursue a CFA designation. Students who specialize in Finance can begin challenging the designation exams as outlined by the CFA Institute:
    • Exam 1 may be challenged after your 3B or 4A term
    • Exam 2 may be challenged after your 4A or 4B term
    • Exam 3 may be challenged after completing 1 year of relevant work experience
    • Ethics Compliance may be completed between year 2 to 4 of relevant work experience.


Work term structure

Chartered Accountancy: It is assumed that Chartered Accountancy co-op work option students will be specializing in Public Accounting to work toward a CA designation. In selecting the WPA co-op work option and specializing in Public Accounting, students will be following a co-op work structure that provides the greatest opportunity for work experience in the areas of accounting - tax, audit and finance.

Research indicated that CA firms' need for extra help peaks during the winter term. the Chartered Accountant co-op work sequence has been structured to benefit both students and CA firms to maximize the assistance that CA firms require while providing students with the greatest amount of work experience.

Business and Finance: As a Business and Finance co-op work option student you will be specializing in one of the three areas to work toward a CA, CMA, or CFA designation. In selecting the co-op work option, students will be following a co-op work structure that provides the greatest diversity of work experiences in the areas of accounting and finance in industry, not-for-profit organizations or government.

Research indicates that employers are looking for accounting and finance students on a year round basis. As a Business and Finance co-op work option student you can take advantage of diverse work experiences and co-op sequencing in order to gain valuable perspectives on how organizations operate throughout a fiscal year.

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No matter which co-op option you choose, you will develop analytical, forecasting, budgeting and reporting skills through your academic studies.  While on a work term, you will build communication, computer, leadership and organizational skills.  In both situations you will also develop the ability to work well independently and in a team setting.


Chartered Accountancy Co-op Option

What you'll be doing on a work term (Chartered Accountancy co-op option)
  • evaluating and testing processes and related controls
  • completing a working paper file for small to medium-sized clients, including support for financial statement balances
  • conducting audit procedures, including tests of controls, verification and confirmations
  • preparing financial statements
  • preparing corporate and personal tax returns
  • researching tax issues and assisting in tax planning assignments, transactions and divestitures
  • interacting with tax authorities regarding tax discrepancies, tax audits and client statements of account
  • assisting audit staff in tax provision work
This type of experience can lead you toward a rewarding career as a(n):
  • Assurance Assistant Auditor
  • Tax Assistant
  • Auditor
  • Business Risk Auditor
  • Senior Accountant
  • Systems Developer
  • Senior Revenue Analyst
  • Tax Consultant
  • Vice-President of Finance
  • Partner in a Public Accounting firm
  • Chief Financial Officer
  • Chief Executive Officer


Business and Finance Co-op Option

What you'll be doing on a work term (Business and Finance co-op option)
  • preparing quantitative/financial analyses of potential acquisitions (e.g. cash flow models, return analysis)
  • preparing financial analyses and reports
  • developing and applying inventory models
  • testing and improving financial systems
  • documenting practices through flowcharts
  • checking the appropriate controls
  • developing and preparing management reports
  • interacting with other areas to solve operational problems
  • developing an understanding of the financial services industry, including derivative products
  • updating, maintaining and ensuring the accuracy and integrity of an asset database
  • developing an understanding of fixed income instruments and the market's impact on assets
  • working in capital markets and with securities
This type of experience can lead you toward a rewarding career as a(n):
  • Business Analyst
  • Financial Analyst
  • Security Analyst
  • Account Manager
  • Chief Accountant
  • Treasurer
  • Corporate Controller
  • Investment Banker
  • Financial Manager
  • Portfolio Manager
  • Chief Financial Officer
  • Chief Executive Officer

 

AFM
The School of Accounting and Finance is the only English speaking professional school of its kind in Canada. We offer 2 undergraduate (Accounting and Financial Management and Computing and Financial Management) and 3 graduate (Master of Accounting; Master of Taxation; PhD in Accounting) programs to provide students with the technical, analytical, evaluative, and communication skills needed to prepare for successful careers in public accounting, finance, industry, government and not-for-profit sectors. In conjunction with the Faculties of Mathematics and Science, the School also administers 2 undergraduate programs (Mathematics/Chartered Accountancy; Biotechnology/Chartered Accountancy) and 1 graduate program (Master of Quantitative Finance).