Waterloo AFM
University of Waterloo
Accounting & Financial Management (AFM) is a highly targeted program for students with a genuine interest in accounting and a clear path toward the CPA designation.
What AFM is — and who it's for
While traditional commerce programs are designed to give students broad exposure to all areas of business before they choose a specialization, AFM is a highly targeted program specifically designed for students interested in accounting and the CPA designation.
It is an excellent fit for students who already have a strong interest in accounting, auditing, taxation, valuation, financial reporting, or related fields.
An accelerated, direct pathway to the CPA designation
One of AFM's biggest strengths is its accelerated direct pathway toward the Chartered Professional Accountant (CPA) designation. Students who complete AFM are eligible to continue into Waterloo's 8-month Master of Accounting (MAcc) program.
This satisfies the CPA academic and professional education components, allowing students to proceed directly to the CPA Common Final Examination (CFE) instead of taking the full two-year CPA Professional Education Program (PEP) route — saving students lots of time and lots of repeated coursework.
Specialized accounting curriculum, plus Waterloo co-op
AFM is also one of the few undergraduate business programs in Canada that combines a specialized accounting curriculum with Waterloo's renowned co-op system. Students graduate not only with academic preparation, but also with substantial professional experience gained through multiple co-op terms at accounting firms, financial institutions, and corporate employers.
Co-op work/study schedules differ by faculty. AFM students follow the standard sequence used by most University of Waterloo co-op students — not the Faculty of Engineering schedule.
- Accounting firms
- Financial institutions
- Corporate employers
How admissions works — and how it has changed
Historically, Waterloo AFM has used supplementary assessments — including the AIF and the SAFAA — to evaluate applicants beyond grades. However, admissions requirements can change from year to year.
At the time of writing, admissions decisions are based entirely on academic performance.
Frequently asked
Your program lead
Evelyn Zheng
Lead Coach | Head of Canadian Admissions · HBA '22, Ivey Business School · Western University
Selective business programs reward clarity, not noise. That said, Waterloo AFM has recently changed its selection criteria to be entirely marks-based. This presents a great option for future business students as a primary or back-up program.Read Evelyn's biography
Ready to start your Waterloo AFM application?
Speak with a coach who specializes in this program.