ACCOUNTING AND FINANCIAL MANAGEMENT

FALL OPEN HOUSE Saturday, November 7, 2015 Presented by:

PATTY MAH School of Accounting and Finance

WHAT IS AFM? »  Professional program »  Directly leads you towards a CPA or CFA designation »  Plus CIA, CBV, and 12 CSC

»  Structured program follows a Learning Model »  Experience matters! »  Co-op only: AFM student are co-op students »  Extra- and co-curriculars enhance and build your learning

AFM CURRICULUM

WHY WATERLOO Competencies, professionalism, and practical experience to launch your career »  Develop professional competencies in and outside of the classroom »  Enhance your learning through experiential opportunities like co-op and PD activities »  Succeed by having access to the SAF community of support services »  Learn from award-winning professors »  Learn and gain depth in accounting »  Learn and gain depth in finance »  Integrate and build strengths in both accounting and finance

AFM LEARNING MODEL »  Focus on skills development, integration, & professionalism »  AFM XXX courses developed with the Learning Model as a guide to success »  Understanding core concepts »  Applying knowledge »  Integrating it all through academic, co-op, and extracurricular experiences

YOUR Experiential Advantage!

AFM CURRICULUM »  Year 1 & 2: Exposure to accounting, finance, and business »  Year 3: Focus your studies toward professional accounting or finance

»  Distinguish yourself: Minors, specializations, options… »  »  »  »  »  » 

Entrepreneurship Human Resources Management Economics International Studies International Trade International experience certificate

WHY WATERLOO

CPA DESIGNATION »  Highest level of national accreditation

»  Combine AFM with MAcc to… »  Fulfill all CPA academic prerequisites »  Complete 16 out of the 30 months of required work experience »  Complete the 2 CPA core integration modules »  Complete 2 CPA elective modules of the 4 professional areas of study »  Complete the 2 CPA capstone modules

CPA PATHWAY – AFM NATIONAL ACCREDITATION MEANS…

CPA PATHWAY WITHOUT NATIONAL ACCREDITATION… Step 1: Meet academic prerequisites

Ugrad degree

Without subject area coverage

CPA Prerequisite Education Program (CPA PREP) Recognized Post-secondary courses/programs

With subject area coverage – up to 2 years Complete 30 months of relevant work experience

Step 2: CPA Professional Education Program (CPA PEP) CPA Core Modules 1 and 2

CPA Electives 1 and 2

CPA Capstone Modules 1 and 2

»

Common Final Exam (CFE)

Complete 30 months of relevant work experience

»

CPA Designation

WHY WATERLOO

Four grads in the last 5 years won the National and Ontario Gold Medals for their highest scores in the UFE.

Highest level of National Accreditation

CFA DESIGNATION »  CFA Institute University Recognition program »  AFM satisfies 70% of the CFA CBOK with emphasis on the CFA Code of Ethics and Standards of Practice »  Advanced preparation = fast track to designation

AFM Sept. 2016

CFA Level 1 June 2020

BAFM Dec. 2020

CFA Level 2 June 2021

CFA Level 3 June 2022

GET ACCREDITED »  Focus on finance with accounting in the AFM program and work toward: »  Chartered Financial Analyst (CFA) »  12 possible Canadian Securities Certificates »  Focus on accounting with finance in the AFM program and work toward: »  Chartered Professional Accountant (CPA) »  Chartered Business Valuator (CBV) »  Certified Internal Auditor (CIA)

AFM CO-OP = DIVERSITY EXPERIENCE MATTERS! 99% AFM co-op employment rate, all years

AFM CO-OP = FLEXIBILITY EXPERIENCE MATTERS! 99% AFM co-op employment rate, all years YEAR 1 F16

W17

YEAR 2 S17

F17

W18

YEAR 3 S18

F18

W19

YEAR 4 S19

F19

W20

YEAR 5 S20

F20

W21

S21

AFM Co-op* Study Study Off Study Work Study Work Study Study Work Study Work Study MAcc MAcc Option 1* Study Study Off Study Work Study Work Study Study Work Work Study Study MAcc MAcc Option 2* Study Study Off Study Work Study Work Study Study Study Work Work Study MAcc MAcc Option 3 Study Study Off Study Work Study Study Work Study Work Study Work Study MAcc MAcc Option 4 Study Study Off Study Work Study Study Work Study Work Work Study Study MAcc MAcc Option 5 Study Study Off Study Work Study Study Work Study Study Work Work Study MAcc MAcc F = Fall term (September to December); W = Winter term (January to April); S = Spring term (May to August) Flexibility in your co-op routes helps you maximize employment opportunities. *Curriculum and co-op sequence options are subject to Waterloo Senate approval.

EXPERIENCE MATTERS! SOPHIE, 2A AFM Junior Accountant, DCY Professional Corp., CA »  Compiled financial statements »  Prepared returns for corporate tax, trust, payroll tax, investment income, personal tax »  Update and management of client data base

AMANDA, 2A AFM Junior Accountant, Marc Payeur Professional Corp. »  Performed Notice to Reader files »  Prepared financial statements »  General bookkeeping

EXPERIENCE MATTERS! PATRICK, 2A AFM Accounting/Audit Staff, Cameron Keller & Co. »  Completed year end transactions for client accounts »  Prepared financial statements »  Completed T2 returns

CATHERINE, 2A AFM Accounting Assistant, Leach Bradbury Chartered Accountants and Financial »  Completed T1 forms for client accounts »  Completed Notice to Reader files »  Assisted with client compilations

EXPERIENCE MATTERS! GABRIELA, 2A AFM Junior Accountant, BDO Canada LLP »  Completed Notice to Reader files »  Prepared personal tax returns »  Client liaison for completion of client files

JOSH, 2A AFM Accounting & Auditing, BDO Canada LLP »  Prepared compilation engagements »  Prepared T2 returns »  Prepared T1 returns

EXPERIENCE MATTERS! CYNTHIA, 2A AFM Tax Analyst, Deloitte »  Prepared Canadian and US personal income tax returns »  Technical research and analysis on taxation issues

ISMAIL, 2A AFM Assurance Associate, PwC »  Testing confirmations from third parties for audit evidence »  Analysis of income and expenses for financial statement verification/assurance

EXPERIENCE MATTERS! LUKE, 2A AFM Assurance Associate, PwC Canada »  Gathered evidence to support client’s financial statements »  Understand a client’s transactions and apply judgment to support it’s treatment (e.g. were the correct accounts debited and credited?) CORISSA, 2A AFM Staff Accountant, KPMG »  Followed and completed audit procedures »  Prepared and recorded adjusting journal entries »  Drafted and prepared financial statements

EXPERIENCE MATTERS! MINETTE, 2A AFM Quality Assurance Technician, Farm Business Consultants »  Verified information for tax returns and support documentation »  Reviewed and corrected discrepancies within accounts AMANJOT, 2A AFM Tax Professional, H&R Block »  Worked with clients to prepare accurate personal tax returns »  Met with clients to review and provide tax advice

EXPERIENCE MATTERS! JASMINE, 2A AFM CPA Finance Co-op, PepsiCo »  Prepared monthly corporate tax remittances »  Prepared monthly Area Profit & Loss Report »  Updated Standard Operating Procedures manual

MICHAEL, 2A AFM Project/Business Analyst, Toronto-Dominion Bank »  Coordinated prompt delivery of tech projects in support of TD Securities »  Collaborated with IT team for technical »  Prepared month-end procedures and financial forecasts

EXPERIENCE MATTERS! ALDA, 2A AFM Accounting Analyst, Sun Life Financial »  Reviewed external financial statements »  Developed and implemented validation checks »  Prepared audit and statutory working papers

KEVIN, 2A AFM Internal Audit – Control & Support, Scotiabank »  Coordinated audit projects and engagements »  Assisted in audits at individual branches to provide assurance over the design and operation of Scotiabank’s controls

EXPERIENCE MATTERS! ASHLEY, 2A AFM Business/Finance Co-op, Ontario Public Service »  Prepared budgets and forecasts »  Assisted in development of financial models »  Identified, developed, implemented performance measures

BRAYDEN, 2A AFM Trust Compliance/Accounts Receivable Officer, Canada Revenue Agency »  Managed an inventory of 200 accounts »  Reconciled accounts to ensure compliance »  Resolved deduction/remittance issues with tax payers

EXPERIENCE MATTERS! BRYON, 2A AFM Corp. Financial Analyst, KIK Custom Products »  Prepared year-end financial documents »  Liaised with various government agencies »  Analyzed processes to develop efficiencies in financial reporting procedures

KEVIN, 2A AFM Financial Analyst, ABC Group »  Prepared consolidated financial statements »  Prepared weekly sales reports »  Analyzed variance in weekly results to discuss sales reports with each plant

FINANCING YOUR EDUCATION »  AFM is a professional program »  Tuition fees increase beginning in Year 2 »  Average co-op earnings from $40,000 to $88,000 »  Waterloo and SAF scholarship: $1,000 to $55,000 Schedule of Fees – based on 8 month academic term TUITION

CO-OP FEES

INCIDENTALS

TOTAL

AFM – Year 1

$6,054.00

N/A

$1,029.46

$7,083.46

AFM – Year 2

$16,056.00

$1,296.00

$1,029.46

$18,381.46

Use the interactive form to create your personal budget uwaterloo.ca/find-out-more/financing/interactive-budget

FINANCING YOUR EDUCATION

AFM ADMISSION »  6 Grade 12 U or M courses, including: »  12U-Level English, minimum 75%

»  12U-Level Advanced Functions, minimum 75% »  12U-Level Calculus & Vectors, minimum 75% »  + 3 other U or M Level courses

»  Overall average minimally 85% »  Average is calculated with 3 required courses + 3 next best U of M level courses

AFM ADMISSION »  AFMAA is an ONLINE INTERVIEW »  Open to all applicants

»  Questions will cover topic areas that may include: »  »  »  » 

Academic performance Extra-curricular activity Leadership, community engagement Interest in the study of accounting or finance

»  For more information: uwaterloo.ca/saf/AFMAA

AFM ADMISSION »  Brag about yourself! »  Volunteer hours, community involvement »  Employment experiences »  Student clubs, groups, councils

»  Explanations for repeated/non-day courses »  Extenuating circumstances

APPLICATION DEADLINES »  For EARLY OFFERS: »  Application deadline: January 15, 2016 »  AIF and AFMAA: February 5, 2016 »  Documents/ELR to Waterloo: February 5, 2016

»  For MAY OFFERS: »  Application deadline: February 5, 2016 »  AFMAA: February 29, 2016 »  AIF, Documents/ELR to Waterloo: March 1, 2016

AFM ADMISSION »  Academic record + AFMAA + AIF »  Individual selection from 85%+ »  No definitive “cut-off” average

»  Committee basis decision utilizing a process that provides the best advantage for the student »  Offers of Admission: »  Early Offers: week of February 22nd »  May Offers: week of May 9th

»  300 spots for Fall 2016