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University of Waterloo Biotechnology and Chartered Accountancy Program Transfer Credit Policy


CGA Ontario Courses 

University Equivalent 

Financial Accounting Fundamentals (FA1) 

AFM 101 

Introduction to Financial Accounting


Micro and Macro Economics (EM1) 

ECON 101
ECON 102

Introduction to Microeconomics
Introduction to Macroeconomics


Business Law (LW1) 

AFM 231

Business Law 


Financial Accounting: Assets (FA2) 

AFM 291

Intermediate Financial Accounting 1 


Business Quantitative Analysis (QU1)


ECON 221


STAT 202 

Introductory Statistics and Sampling for Accounting

Statistics for Economists


Management Accounting Fundamentals (MA1) 

AFM 102

Introduction to Managerial Accounting 


Business Communication (CM1) 

Two half-credit courses required. Any two of the following: business communications, effective writing or an English course such as SPCOM 111.  
Have completed a four year bachelor's degree from this institution.

Financial Accounting: Liabilities and Equities (FA3) 

AFM 391 

Intermediate Financial Accounting 2 


Corporate Finance Fundamentals (FN1) 

AFM 271 or
AFM 273 

Managerial Finance 1


Managing Information Systems (MS1) 

AFM 241

Introduction to Business Information Technology 



Advanced Management Accounting (MA2) 

AFM 481 or
AFM 382

Cost Management Systems or
Performance Measurement and Organization Control


Personal and Corporate Taxation (TX1) 

AFM 361 or
AFM 362
AFM 461 

Taxation 1 or Taxation 1 for Accountants

Taxation 2


External Auditing (AU1) 

AFM 351
AFM 451

Audit Strategy


Financial Accounting: Consolidations and Advanced Issues (FA4) 

AFM 491 

Advanced Financial Accounting 



*Advanced Corporate Finance (FN2) 

AFM 371 or AFM 274

Managerial Finance 2


*Advanced External Auditing (AU2)

+Advanced External Auditing (AU2)

AFM 501 and AFM 502

ACC 650 and ACC 621

Contemporary Issues in Assurance and Accounting and Control Systems in a Computer Environment

Contemporary Issues in Assurance and Accounting and Control Systems in a Computer Environment


*Advanced Personal and Corporate Taxation (TX2) 

AFM 461

Taxation 2


*Information Systems Strategy (MS2)

AFM 341

Accounting Information System


A grade of “65%” is required in each of the equivalent courses in order to obtain a transfer credit.

*Challenge Examination

+Course equivalents are only offered through MACC.    

For more information, please contact Sati Bandyopadhyay by phone at (519) 888-4567 ext. 32533, or by email at

Transfer credit policies are subject to change without notice.   

Updated as of February 18, 2014.