Bachelor of Accounting & Financial Management

Business and Finance Co-op Option

Tomorrow’s accounting and finance leaders will be dependent not only on core technical mastery, but also on their ability to learn, collaborate across organizations and adapt to changing conditions in a global business context. This undergraduate co-op program is uniquely designed to build a skill set to meet this demand by combining rigorous accounting and finance study with integrative cross-organizational work, professional development training and real employment experience. The School’s aim is to inspire professionally designated leaders within business, government and not-for-profit sectors. Our hope is to introduce you to these professionals early on in their career through our co-op program. 

Each year approximately 200 exceptional student candidates are admitted to this Co-op Option within the Accounting and Financial Management Program. Emphasis is placed on teaching students how to learn, adapt and apply skills in a global business context. Candidates undertake core studies in financial and management accounting, finance, math, business, communications, public speaking, law and ethics. The curriculum structure is unique in that students can tailor an educational and experiential pathway that allows them to build a skill set in order to take on progressively more responsibility (as co-op employees) as they progress through the program and toward professional accreditation. These students are focused and driven.

Students in the Business and Finance Co-op Option are typically aligning their academic study with the pursuit of one or more professional accounting or finance designations (CFA, CA, CMA) by specializing in Finance, Management Accounting or Public Accounting.  They often plan to study at the graduate level after finishing their undergraduate studies. Waterloo’s Master of Accounting Program is just one option available to these students.

Junior, intermediate and senior students have what it takes to be a contributor on your team right now and a prospect for full-time hire. They are enticed to perform well on the job in order to gain professional experience, earn academic credit for the co-op work and to maintain standing in our recognized co-op program. Recruiting students for your CA Training program can be done through the Waterloo Recruitment Cycle, which is administered by the Co-operative Education and Career Services department.

Co-op Schedule and Cost

Students in the Chartered Accountancy Co-op Option can be asked to commit to two 4-month co-op work terms (at the employer’s request and discretion) upon hire into you practice, so long as the revocable condition is disclosed in the job posting and discussed during the interview.


(Click on Chart for PDF version of the schedule)

 

AFM Co-op Earnings

Employers determine how much to pay co-op student employees. The following pay schedule has been developed using information compiled by the Department of Cooperative Education and Career Services. It can be used as a guide to determine wage rates for your co-op employees.

 
WT1
WT2
WT3
WT4
Average Annualized Salary Range
$26,988 - $40,852
$31,005 - $44986
$33,800-$53,995
$37,908-$53,001
Average Monthly Salary Range
$2249 - $3404
$2584 - $3748
$3816 - $4499
$3159 - $4416
Average Per Term Income Range
$8996 - $13,616
$10336 - $14,992
$11,264 - $17,996
$12,636 - $17,664

 

 

 


Financial Support for Employers

Co-op employers are eligible for financial support check out the following link for details.

http://www.cecs.uwaterloo.ca/employers/prospective/support.php

Junior Co-op Students

Recruit a Junior Co-op student to work from January - April

Junior students in the Business and Finance Co-op Option are preparing for their first co-op work-term. These students were leading performers in secondary school and are now in their third academic term at the postsecondary level.  Their university studies to date include the theory and practice of financial statement preparation and analysis and either: an introduction to applied finance, corporate decision support or public accounting practice. In addition to being introduced to microeconomic and macroeconomic theory, students have explored the functional areas of organizations and the complex international setting for business today. They have looked at calculus, descriptive statistics, probability and survey sampling through courses in mathematics and statistics and have been trained to communicate and collaborate effectively. Most students have participated in the School’s professional development conference and a number of co-op preparatory activities to gain valuable insight into the professional norms and standards of the industry.

Junior students are brilliant at the basics and eager to take on work and responsibility. They are bright, dynamic and offer new perspectives. Most importantly, they can make contributions to your team right now. Moreover, hiring a second year student is a way to develop a professional working and mentoring relationship with a student early on in his/her career.  You will find a students to:

  • Learn your business, processes and systems
  • Conduct general business administration and analysis
  • Perform operational, administrative and special project activities on corporate accounting and finance teams (i.e. transaction processing, reporting, internal audit and controls, compliance, decision support etc.)  in any industry
  • Use your accounting systems along with MS Excel to collect, organize and process business information
  • Assist with the preparation of financial statements or management reports
  • Integrate accounting/finance skills to assist other areas of the organization (i.e. operations, sales/marketing, human resources etc.)
  • Deliver an adequate amount of productivity and track/manage personal performance
  • Keep stakeholders informed and up to date on important matters
  • Learn, grow and develop professionally by serving on your team

Key Core Courses to Date
Introduction to Applied Finance (204) Decision Support (AFM 203) or Professional Practice (AFM 201)
Learn to Integrate: Leadership, Communication and Collaboration (SPCO 111)
Intermediate Financial Accounting, Part 1 (AFM 291)
Introduction to Managerial Accounting (AFM102)
Managerial Finance, (AFM 273)
Introduction to Business in North America (AFM131)
Introductory Statistics for Accounting and Financial Management (STAT 211)
Mathematics for Accounting (MATH109)

Intermediate and Senior Co-op Students

Recruit an Intermediate Co-op Student to work from January – April
Recruit a Senior Co-op Student to work from January – April until fall 2014

AFTER FALL 2014
Recruit a Senior Co-op Student to work for one or two 4-month work terms throughout the year or one 8-month work term. See Co-op Schedule for sequencing options. 

Intermediate and senior students in Business and Finance Co-op Option have leveraged their core fundamental understanding of finance and accounting to move toward a deeper understanding of an interest area of their choosing. They have declared their intent to specialize (academically) in finance, management accounting or public accounting. Most often, they have made a personal commitment to the development of the professional competencies necessary to obtain one or more professional designations (usually CFA, CA and/or CMA). Their business analysis, problem solving and collaborative skills, as well as their perspectives on leadership have been honed through the study of business in a global context. Through coursework that emphasizes the connections across technical and non-technical competencies, and through the completion of one or two co-op work terms to date, these students are prepared to take on more responsibility as contributors to teams in corporate finance, financial services and public accounting.

While each senior/intermediate student will have undertaken several semesters of rigorous study in accounting financial management at a top Canadian university, each has developed a unique work co-op experience and interest profile. Some students may have had a great deal of exposure to the types of work you do and the stakeholders  you serve, and this will make them immediate performers with little or no training. Other students may require some specific training or guidance in a particular area but may bring experience to your team in other areas. The bottom line is that these students are focused and driven. They are enticed to perform well on the job in order to gain professional experience, earn academic credit for the co-op work and to maintain standing in our co-op program. The key to hiring of course is fit for the work, fit for the team and fit for your short and mid-term hiring strategy.  You will find an intermediate/senior co-op student to:

  • Assist front office financial services professionals with the preparation of finance analysis
  • Assist trading staff with analysis and execution
  • Take on middle and back office audit and compliance roles in securities trading businesses
  • Perform operational and special project activities for corporate accounting and finance teams (i.e. reporting, internal audit and controls, compliance, decision support etc.) in any industry
  • Assist with the research for- and preparation of financial statements/reports or corporate tax returns
  • Integrate broad set of business skills to assist other areas of the organization (e.g. operations, strategy, business development, marketing, human resources etc.) for organizations in any industry
  • Deliver an adequate amount of productivity and track/manage personal performance
  • Keep stakeholders informed and up to date on important matters
  • Learn, grow and develop professionally by serving on your team

Key Core Courses to Date
Learning to Integrate Courses:  (SPCO111, AFM 211, AFM 311)
Intermediate Accounting (AFM 291, 391)
Introduction to Applied Finance (204) Decision Support (AFM 203) or Professional Practice (AFM 201)
Managerial Finance Part 1 and 2 (AFM 273, 274)
Microeconomics and Macroeconomic Theory (ECON 201 and 202)
Business Law (AFM 231)
Organizational Behaviour (AFM 280), Marketing and Consumer Economics (ECON 344)
Business Information Technology (AFM 241)
Globalization Courses (AFM 333, ECON 231, PSCI 281)
Introductory Statistics for Accounting and Financial Management (STAT 211)
Mathematics for Accounting (MATH 109)

Students Perusing Finance Specialization will also take/have taken
Derivative Securities (AFM 322)
Quantitative Foundations for Finance (AFM 323)
Equity Investments (AFM 424)
Fixed Income Securities (AFM 425)
Personal Financial Planning (AFM 321)
Management of Financial Institutions (AFM 422)
Topics in Financial Econometrics (AFM 423)
Advanced Topics in Corporate Finance (AFM 473)
Applied Corporate Transactions (AFM 477)

Students Perusing Management Accounting Specialization will also take/have taken
Accounting Information Systems (AFM 341)
Taxation Part 1 and 2 (AFM 362, 363)
Performance Measurement and Control (AFM 382)
Comprehensive/Operational Auditing (AFM 352)
Advanced Financial Accounting (AFM491)

Students Perusing Public Accounting Specialization will also take/have taken
Accounting Information Systems (AFM 341)
Audit Strategy (AFM 351)
Taxation Part 1 and 2 (AFM 362, 363)
Performance Measurement and Control (AFM 382)
Audit Strategy (AFM 351)
Performance Measurement and Control (AFM 382)

Graduating Co-op Students

As part of a very flexible ongoing Graduate Recruitment Cycle, the Department of Co-operative Education and Career Services will post full-time jobs to- and facilitate the interviewing of- students in their final term of their undergraduate degree. The Department will also post full-time jobs to- and facilitate the interviewing of- students who are in the Master of Accounting or Diploma Program.

Recruit a finance specialist
Students who specialise in finance through the Accounting and Financial Management undergraduate co-op program are available for hire in the final term of their undergraduate degree (fall) for a January or later start date. Students have often challenged CFA Level 1 and/or taken a variety of professional finance licencing courses in addition to their undergraduate studies.

Recruit a CA and/or CMA-bound Master of Accounting student for full-time roles that begin after the student challenges Case Exam and Board Report
Students who complete the Accounting and Financial Management undergraduate co-op program are eligible to apply for admission to Waterloo’s Master of Accounting Program. The Master of Accounting Program begins in January and ends in August. For students on a CMA educational pathway, achievement of the graduate degree may qualify the student to proceed directly to the CMA Case Exam and Board Report.

Recruit a CA-bound Master of Accounting or Diploma student for full-time roles that begin after the student challenges the Uniform Final Exam (UFE)
Students who complete the Accounting and Financial Management, Math CA or Science CA undergraduate co-op program are eligible to apply for admission to Waterloo’s Master of Accounting Program or Diploma in Accounting Program. Both programs begin immediately after undergraduate study is complete. The Master of Accounting Program begins in January and ends in August. The Diploma Program begins in January and ends in April. For students on a CA educational pathway, achievement of either of these qualifications will complete the ICAO’s 51-credit hour requirement. Students who receive the Diploma must successfully complete the Institute’s Core Knowledge Exam and School of Accountancy before writing the UFE - subject to the Institute’s qualifying guidelines. Students who complete the Master of Accounting Program proceed directly to the UFE- subject to the Institute’s qualifying guidelines.

How to Hire a Co-op Student

The Department of Co-operative Education and Career Services maintains the processes, procedures and facilities that accommodate co-op hiring at Waterloo. Complete details of these, including key recruitment dates for a given term, can be found here: www.cecs.uwaterloo.ca/emp_manual.

For more information about hiring Waterloo students for your public accounting practice contact:

Department of Co-operative Education
200 University Ave., West
Waterloo, Ontario N2L 3G1    
Tel: 519-888-4026
cecs@uwaterloo.ca
www.cecs.uwaterloo.ca
  

Kevin McMahon
Business Development Officer  
School of Accounting and Finance
Tel: 519-888-4567 Ext. 32792
kmcmahon@uwaterloo.ca
www.saf.uwaterloo.ca  

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).