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Degree Awarded: Bachelor of Commerce (BComm)
Program Website: ryerson.ca/accountingandfinance
Administered by: School of Accounting and Finance at the Ted Rogers School of Management
Program Format: Full-time, four-year program.
Full-time, five-year co-op program.

With our distinguished faculty and staff, our talented student population and our valuable contacts in the Financial District, Ryerson's School of Accounting and Finance is a leading destination for enterprising and contemporary financial education.

Admission Information

O.S.S.D. with six Grade 12 U/M courses including Grade 12 U courses in: English, Advanced Functions (MHF4U) and Calculus and Vectors (MCV4U).

Notes:

  1. ENG4U/EAE4U is the preferred English.
  2. The grade(s) required in the subject prerequisites (normally 75 percent or higher) will be determined subject to competition.
  3. Subject to competition, candidates will be required to present averages/grades above the minimum.  
Program Overview/Curriculum Information

Located in the heart of Canada’s Financial District, the School of Accounting and Finance (SAF) welcomed over 300 new students in the Fall of 2013. The Ted Rogers School of Management has consistently provided top-notch accounting and finance course offerings to their students, and the School of Accounting and Finance continues to hold itself to a standard of excellence.

Accounting and Finance classes have long been an important part of the Ted Rogers School of Management. With the creation of a separate school, we are better able to hone the skills required of accounting and finance professionals in today’s ever-changing business world.

We are excited to be the only separate School of Accounting and Finance in the heart of Canada’s Financial Sector, and can’t wait to see the great things our graduates will do in the future. Together, we will continue to make sure that the accounting and finance graduates from the Ted Rogers School of Management are second to none.

All first year students in the School of Accounting and Finance will be automatically enrolled in CAF 199 Communication Skills and will write a Writing Skills Test (WST). These tests are administered during the second week of classes in the Fall term.

CAF 199 Communication Skills is graded on a Pass/Fail basis.

Students who pass the WST will receive a PASS in CAF 199 and may enrol in the Lower Level liberal studies course of their choice (subject to availability).

Students who do not pass the WST will receive an INP (In-Progress Grade) in CAF 199 and will be required to enrol in one of LNG 111, LNG 112, LNG 113, or LNG 121 as their first-year Lower Level liberal studies course. LNG courses are designed to help students improve their English skills. These students will then have three additional opportunities to write and pass the WST:

  • In May, following 2nd Semester
  • During the second week of classes in 3rd Semester
  • In May, following 4th Semester


A PASS in CAF 199 Communication Skills is required to enrol in all third-year AFA and AFF courses in the School of Accounting and Finance.

For further information contact the School of Accounting and Finance.

At the School of Accounting and Finance we put a premium on getting you a job after graduation. We foster relationships with the major accounting and finance firms and regulatory bodies to ensure that there will be networking events, in-class workshops, and employment opportunities available for you.

With a BComm in Accounting you can obtain the necessary credits to start your career path toward the Chartered Professional Accountants (CPA) designation. With this designation you could pursue a career as an auditor, chief financial officer or controller.

With a BComm in Finance, some career options available to you are: Securities Trader, Portfolio Analyst, Financial Analyst, or Personal Financial Planner.

In their first two years, accounting and finance students take general courses in each specialization before choosing their academic destination. Students choosing to specialize in accounting will take courses toward a professional accounting career. Students choosing to specialize in finance will be prepared for a career in the financial industry. Finance is becoming increasingly complex with advances in information exchange and the continued growth of the mutual funds industry. The graduates of the School of Accounting and Finance will be able to stand up to the challenge.

Students must take three lower level liberal studies courses and three upper level liberal studies courses to graduate. Students must not choose courses that are restricted for their program or major.

Please refer to the liberal studies chapter of this calendar for more information on the Liberal Studies Policy. Further information on liberal studies can also be found at the Faculty of Arts' Liberal Studies website.

Table A Restrictions

ECN 110, ECN 210 and ITM 277 are not available for credit.

Table B Restrictions

ECN 505, ECN 607 and SOC 501 are not available for credit.  

Students may pursue any Minor offered by Ryerson (with some exceptions). Please refer to the Minors chapter of this calendar for further information on individual Minor requirements and exclusions.

Undergraduate students wishing to pursue a continuing education certificate program should be aware of possible program exclusions. Please refer to the Certificate Registration section of the Curriculum Advising website for complete details.

Optional Co-Operative Program Overview

The School of Accounting & Finance offers an optional co-op program which provides graduates with 16 months of work experience integrated into their academic program.

Students wishing to be considered for this program must apply for admission into the co-op option upon completion of the first year of the program. Admission to the co-op program is based on the following four items:

  1. Minimum CGPA of 3.33 (or higher) and a Clear Standing. Subject to competition, candidates may be required to present a CGPA above the minimum.
  2. All first year courses must be successfully completed (including AFA 100, AFA 200, QMS 130 and AFF 210)
  3. Resume, Cover Letter and Application must be completed and submitted by the deadline date.
  4. Interview with the Faculty Advisor.

Students begin work terms upon completion of second year of the program and the co-op program extends the Accounting & Finance program to five years from four. The School of Accounting & Finance cannot guarantee work term jobs, but the Office of Co-operative Education and the School will prospect for employers and make every effort to locate suitable positions, as well as be available to advise students on their search for program-related jobs. The co-op program enables students to earn prevailing wages for the level of responsibility and contribution of the jobs they perform and thus finance at least part of their university education.

The sequencing of academic and work terms is shown below:

  Fall Winter Spring/Summer
Year 1 1st Semester 2nd Semester --
Year 2 3rd Semester 4th Semester WKT 143 - Work Term I
Year 3 5th Semester WKT 243 - Work Term II 6th Semester
Year 4 WKT 343 - Work Term III 7th Semester WKT 443 - Work Term IV
Year 5 8th Semester -- --

This schedule may be subject to revisions.

Work terms are graded on a pass/fail basis. Each work term is assessed by the Co-op Faculty Advisor on the basis of the student's comprehensive written report and the employer's evaluation of the student's performance on the job.

Students are expected to follow the sequence prescribed for their program. Deviation from the sequence requires the submission of a formal request to the Co-op Faculty Advisor and approval from the School. With permission from the School/Department, students may be allowed to graduate with the co-op endorsement with fewer than the prescribed work terms.

Academic Standing Variation

In addition to the general criteria used to determine Academic Standing, students in this program must also meet the following conditions:

All students enrolled in The School of Accounting and Finance must maintain a cumulative grade point average (CGPA) of 1.67 or above and also must achieve a satisfactory grade ('C+' or higher) in each the following courses:

AFA 100 Introductory Financial Accounting
AFA 200 Management Accounting
AFF 210 Principles of Finance I
AFF 310 Principles of Finance II
QMS 130 Quantitative Business Analysis

Students with a grade lower than 'C+' in any of these courses will be given PROBATIONARY Academic Standing regardless of their overall Cumulative Grade Point Average (CGPA).

As a condition of their Probationary standing, students will be required to repeat and successfully complete the affected courses with a satisfactory grade or 'C+' or higher in order to remain in the program.

Students with a cumulative grade point average (CGPA) less than 1.67 will be assigned a Probationary or Required To Withdraw (RTW) standing. See Academic Standings for information about the process and consequences.

Program Advisory Council

A Program Advisory Council (PAC) is a group of volunteers that provides expert advice to a school or department on program related matters such as curriculum, program review, technology and trends in the industry, discipline or profession. For more information, see Senate Policy #158 (Program Advisory Councils).


Serge Gattesco (Chair)
Managing Partner, Cities, Clients and Operations
PwC

Richard Anton
SVP and Chief Operations Officer
CIBC Mellon

James P. Bowland
Vice Chairman
Alexander Capital Group

David Conway
Partner, Vice President and Chief Operating Officer
Front Street Capital

Eric Demirian, SBM ‘83
President and Chief Executive Officer and Director
Parklea Capital

Lorne Goldstein
President
Binbrook Holdings Limited

Brian Hunt
Chief Executive Officer
Canadian Public Accountability Board

Allison King, SBM ‘12
Associate, Audit, Financial Services
KPMG Canada

Alex Lelievre, SBM ‘09
Senior Manager, Finance, Retail Distribution,
TD Bank Group

Massimo Marinelli
Managing Partner, GTA and Southwestern Ontario Assurance
EY

Wayne McFarlane
Executive in Residence
Ted Rogers School of Management

Stuart Morrow
Portfolio Manager for U.S. Equities
RBC Global Asset Management

Mary Parniak, SBM ‘82
Chief Financial Officer
Longo's Brothers Fruit Markets Inc.

Anil Passi
Managing Director, Consumer, Communications and Real Estate
DBRS

Heather Strati, SBM ‘94
Partner of Private Company and Services
Deloitte

Peter Sweeney, SBM ‘86
Chief Financial Officer
Calloway Properties REIT

David Wong, SBM ‘81
Regional Vice President
National Bank of Canada

Ted Rogers School of Management Dean's Council

Andrea Cohen Barrack (Council Chair)
CEO
Ontario Trillium Foundation

Paul Baroni
SVP and CFO International Banking
Scotiabank

Peter Bloch
CEO and Director
Bionik Laboratories

Andrea E. Bolger
Former Executive VP, Business Financial Services, Personal and Commercial Banking
RBC

Lisa Borsook
Executive Partner
WeirFoulds LLP

Kevin Chan
Head of Public Policy
Facebook Canada

Joseph Cooper
VP and GM, Global Technology Services
IBM

Vito Curalli
Executive Director, Sales for Canada, Latin America and International
Hilton Worldwide

Betty DeVita
Chief Commercial Officer
MasterCard Labs

Allyson Hewitt
Senior Fellow, Social Innovation
MaRS Discovery District

Dave Hopkinson
Chief Commercial Officer
Maple Leaf Sports and Entertainment

Vikram Khurana
President
Silver Bullet Water Treatment

Lisa Kimmel
President and CEO
Edelman Canada

Lloyd Komori
SVP Risk Management
OMERS Administration Corporation

Art Mannarn
Executive VP and CAO, Retail and Business Banking
CIBC

Marilyn Monk
Executive VP, Clinical
Hospital for Sick Children

Andrew Mullin
Principal
McKinsey & Company

Rebecca Pang
Senior Director, Channel Strategy and Analytics
CIBC

Phil Soper
President and CEO
Royal LePage and Brookfield Real Estate Services Inc.

Stephen Testa
CFO
Nike Mexico

Robert Watson
President and CEO
Information Technology Association of Canada

Carol Wilding
President and CEO
CPA Ontario

Susan Wolburgh Jenah
Corporate Director and Senior Advisor
Aird & Berlis LLP

For updates see: ryerson.ca/tedrogersschool/about/deans-council

Accounting and Finance - First Two Years Common

Revised 2017-2018.

1st Semester

REQUIRED:

BUS 100† Strategies for Success
BUS 221** Business Decision-Making
CAF 199‡ Communication Skills
GMS 200 Introduction to Global Management
MHR 405 Organizational Behaviour
QMS 130* Quantitative Business Analysis

LIBERAL STUDIES:
One course from Table A - Lower Level Liberal Studies.

2nd Semester

REQUIRED:

AFA 100* Introductory Financial Accounting
AFF 210* Principles of Finance I
CMN 279** Introduction to Professional Communication
QMS 230 Statistics for Accounting and Finance

LIBERAL STUDIES:
One course from Table A - Lower Level Liberal Studies.

* To maintain a CLEAR standing, a 'C+' or above is required in each of AFA 100, AFA 200, AFF 210 , AFF 310 and QMS 130. Other conditions also apply. See Academic Standing Variations.

** May be timetabled in either the fall or winter terms.

† This course is graded on a pass/fail basis.

‡ This test is graded on a pass/fail basis. Please see Program Overview for further information about CAF 199.

Last offered 2017-2018 to students admitted Fall 2016. Students admitted Fall 2017, see revised curriculum below.

REQUIRED:

AFA 300 Intermediate Accounting I
AFA 400 Intermediate Accounting II
AFF 310* Principles of Finance II
AFF 410 Derivative Securities
ECN 104 Introductory Microeconomics
ECN 204 Introductory Macroeconomics
LAW 122 Business Law
MKT 100 Principles of Marketing

LIBERAL STUDIES:
Two courses from Table A - Lower Level Liberal Studies.

* To maintain a CLEAR standing, a 'C+' or above is required in each of AFA 100, AFA 200, AFF 210 , AFF 310 and QMS 130. Other conditions also apply. See Academic Standing Variations.


Revised 3rd & 4th Semester curriculum begins 2018-2019 for students admitted Fall 2017 and after.

REQUIRED:

AFA 200* Management Accounting
AFA 300 Intermediate Accounting I
AFA 400 Intermediate Accounting II
AFF 310* Principles of Finance II
AFF 420 Principles of Finance III
ECN 104 Introductory Microeconomics
ECN 204 Introductory Macroeconomics
LAW 122 Business Law
MKT 100 Principles of Marketing

LIBERAL STUDIES:
One course from Table A - Lower Level Liberal Studies.

* To maintain a CLEAR standing, a 'C+' or above is required in each of AFA 100, AFA 200, AFF 210 , AFF 310 and QMS 130. Other conditions also apply. See Academic Standing Variations.

Students choosing to specialize in accounting will take courses toward a professional accounting career beginning in 5th Semester.

Full-Time, Four-Year Program

Revised 2017-2018 for students admitted Fall 2015 and after.

5th Semester

REQUIRED:

AFA 500 Intermediate Accounting III
AFA 511 Ethics in Accounting
AFA 708 Forensic Accounting and Internal Audit
AFF 713 Advanced Corporate Finance

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

6th Semester

REQUIRED:

AFA 615 Public Sector and Not-for-Profit Accounting
AFA 619 Intermediate Cost and Management Acct.

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

PROFESSIONALLY-RELATED:
Two courses from Table I. Course selection may not include AFA prefixes.

7th Semester

REQUIRED:

AFA 518 Auditing
AFA 717 Canadian Business Taxation I
BUS 800 Strategic Management

PROFESSIONALLY-RELATED: Two courses from Table I.
Course selection may not include AFA prefixes.

8th Semester

REQUIRED:

AFA 716 Advanced Financial Acct. and Disclosure
AFA 817 Canadian Business Taxation II
AFA 819 Advanced Management Accounting

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

PROFESSIONALLY-RELATED:
One course from Table I. Course selection may not include AFA prefixes.

Full-Time, Five-Year Co-Op Program

5th Semester (Offered in Fall Only)

Revised Fall 2017.

REQUIRED:

AFA 500 Intermediate Accounting III
AFA 511 Ethics in Accounting
AFA 708 Forensic Accounting and Internal Audit
AFF 713 Advanced Corporate Finance

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

6th Semester (Offered in Spring/Summer Only) 

Revised Spring 2018.

REQUIRED:

AFA 615 Public Sector and Not-for-Profit Accounting
AFA 619 Intermediate Cost and Management Acct.

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

PROFESSIONALLY-RELATED:
Two courses from Table I. Course selection may not include AFA prefixes.

7th Semester (Offered in Winter Only) 

REQUIRED:

AFA 518 Auditing
AFA 717 Canadian Business Taxation I
BUS 800 Strategic Management

PROFESSIONALLY-RELATED: Two courses from Table I. Course selection may not include AFA prefixes.

8th Semester (Offered in Fall Only) 

Begins Fall 2017.

REQUIRED:

AFA 716 Advanced Financial Acct. and Disclosure
AFA 817 Canadian Business Taxation II
AFA 819 Advanced Management Accounting

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

PROFESSIONALLY-RELATED:
One course from Table I. Course selection may not include AFA prefixes.

The sequencing of academic and work terms is shown below:

  Fall Winter Spring/Summer
Year 1 1st Semester 2nd Semester --
Year 2 3rd Semester 4th Semester WKT 143 - Work Term I
Year 3 5th Semester WKT 243 - Work Term II 6th Semester
Year 4 WKT 343 - Work Term III 7th Semester WKT 443 - Work Term IV
Year 5 8th Semester -- --

Work terms are graded on a pass/fail basis. Each work term is assessed by the Co-op Faculty Advisor on the basis of the student's comprehensive written report and the employer's evaluation of the student's performance on the job.

Students are expected to follow the sequence prescribed for their program. Deviation from the sequence requires the submission of a formal request to the Co-op Faculty Advisor and approval from the School. With permission from the School/Department, students may be allowed to graduate with the co-op endorsement with fewer than the prescribed work terms.

Students choosing to specialize in finance will be prepared for a career in the financial industry. Finance is becoming increasingly complex with advances in information exchange and the continued growth of the mutual funds industry.

Full-Time, Four-Year Program

Revised 2017-2018. Last offered 2018-2019 to students admitted Fall 2016. Students admitted Fall 2017 and after see revised curriculum below.

5th Semester

REQUIRED:

AFA 500 Intermediate Accounting III
AFF 501 Investment Analysis

PROFESSIONAL: One course from the following:

AFF 513 Small Business Finance
AFF 611 Fixed Income Securities
AFF 613 Short-Term Financial Management
AFF 621 Advanced Investment Management
AFF 624 International Finance

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies

PROFESSIONALLY-RELATED:
One course from Table I. Course selection may not include AFF prefixes.

6th Semester

REQUIRED:

AFF 514 Financial Modeling I
AFF 604 Ethics in Finance

PROFESSIONAL: One course from the following:

AFF 502 Personal Financial Planning
AFF 513 Small Business Finance
AFF 611 Fixed Income Securities
AFF 613 Short-Term Financial Management
AFF 621 Advanced Investment Management
AFF 624 International Finance

PROFESSIONALLY-RELATED: Two courses from Table I.
Course selection may not include AFF prefixes.


Revised 5th & 6th Semester curriculum begins 2019-2020 for students admitted Fall 2017 and after.

5th Semester

REQUIRED:

AFA 500 Intermediate Accounting III
AFF 410 Derivative Securities
AFF 501 Investment Analysis

PROFESSIONAL: One course from the following:

AFF 513 Small Business Finance
AFF 611 Fixed Income Securities
AFF 613 Short-Term Financial Management
AFF 621 Advanced Investment Management
AFF 624 International Finance

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

6th Semester

REQUIRED:

AFF 514 Financial Modeling I
AFF 604 Ethics in Finance

PROFESSIONAL: One course from the following:

AFF 502 Personal Financial Planning
AFF 513 Small Business Finance
AFF 611 Fixed Income Securities
AFF 613 Short-Term Financial Management
AFF 621 Advanced Investment Management
AFF 624 International Finance

PROFESSIONALLY-RELATED: Two courses from Table I.
Course selection may not include AFF prefixes.

7th Semester

REQUIRED:

AFF 704 Financial Intermediation
CMN 314 Professional Presentations

PROFESSIONAL: One course from the following:

AFF 711 Advanced Portfolio Management
AFF 713 Advanced Corporate Finance
AFF 714 Financial Modeling II
AFF 811 Financial Risk Management
AFF 813 Corporate Financial Analysis

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

PROFESSIONALLY-RELATED:
One course from Table I. Course selection may not include AFF prefixes.

8th Semester

REQUIRED:

BUS 800 Strategic Management

PROFESSIONAL: One course from the following:

AFF 711 Advanced Portfolio Management
AFF 713 Advanced Corporate Finance
AFF 714 Financial Modeling II
AFF 811 Financial Risk Management
AFF 813 Corporate Financial Analysis

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

PROFESSIONALLY-RELATED:
Two courses from Table I. Course selection may not include AFF prefixes.

Full-Time, Five-Year Co-Op Program

5th Semester (Offered in Fall Only) 

Last offered Fall 2018 to students admitted Fall 2016. Students admitted Fall 2017 and after see revised curriculum below.

REQUIRED:

AFA 500 Intermediate Accounting III
AFF 501 Investment Analysis

PROFESSIONAL: One course from the following:

AFF 513 Small Business Finance
AFF 611 Fixed Income Securities
AFF 613 Short-Term Financial Management
AFF 621 Advanced Investment Management
AFF 624 International Finance

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies

PROFESSIONALLY-RELATED:
One course from Table I. Course selection may not include AFF prefixes.

6th Semester (Offered in Spring/Summer Only) 

Revised Spring/Summer 2018. Last offered Spring/Summer 2019 to students admitted Fall 2016. Students admitted Fall 2017 and after see revised curriculum below.

REQUIRED:

AFF 514 Financial Modeling I
AFF 604 Ethics in Finance

PROFESSIONAL: One course from the following:

AFF 502 Personal Financial Planning
AFF 513 Small Business Finance
AFF 611 Fixed Income Securities
AFF 613 Short-Term Financial Management
AFF 621 Advanced Investment Management
AFF 624 International Finance

PROFESSIONALLY-RELATED: Two courses from Table I. Course selection may not include AFF prefixes.


Revised 5th & 6th Semester curriculum begins 2019-2020 for students admitted Fall 2017 and after.

5th Semester (Offered in Fall Only)

Revised curriculum begins Fall 2019.

REQUIRED:

AFA 500 Intermediate Accounting III
AFF 410 Derivative Securities
AFF 501 Investment Analysis

PROFESSIONAL: One course from the following:

AFF 513 Small Business Finance
AFF 611 Fixed Income Securities
AFF 613 Short-Term Financial Management
AFF 621 Advanced Investment Management
AFF 624 International Finance

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

6th Semester (Offered in Spring/Summer Only)

Revised curriculum begins Spring/Summer 2020.

REQUIRED:

AFF 514 Financial Modeling I
AFF 604 Ethics in Finance

PROFESSIONAL: One course from the following:

AFF 502 Personal Financial Planning
AFF 513 Small Business Finance
AFF 611 Fixed Income Securities
AFF 613 Short-Term Financial Management
AFF 621 Advanced Investment Management
AFF 624 International Finance

PROFESSIONALLY-RELATED: Two courses from Table I.
Course selection may not include AFF prefixes.

7th Semester (Offered in Winter Only) 

REQUIRED:

AFF 704 Financial Intermediation
CMN 314 Professional Presentations

PROFESSIONAL: One course from the following:

AFF 711 Advanced Portfolio Management
AFF 713 Advanced Corporate Finance
AFF 714 Financial Modeling II
AFF 811 Financial Risk Management
AFF 813 Corporate Financial Analysis

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

PROFESSIONALLY-RELATED:
One course from Table I. Course selection may not include AFF prefixes.

8th Semester (Offered in Fall Only) 

Begins Fall 2017.

REQUIRED:

BUS 800 Strategic Management

PROFESSIONAL: One course from the following:

AFF 711 Advanced Portfolio Management
AFF 713 Advanced Corporate Finance
AFF 714 Financial Modeling II
AFF 811 Financial Risk Management
AFF 813 Corporate Financial Analysis

LIBERAL STUDIES:
One course from Table B - Upper Level Liberal Studies.

PROFESSIONALLY-RELATED:
Two courses from Table I. Course selection may not include AFF prefixes.

The sequencing of academic and work terms is shown below:

  Fall Winter Spring/Summer
Year 1 1st Semester 2nd Semester --
Year 2 3rd Semester 4th Semester WKT 143 - Work Term I
Year 3 5th Semester WKT 243 - Work Term II 6th Semester
Year 4 WKT 343 - Work Term III 7th Semester WKT 443 - Work Term IV
Year 5 8th Semester -- --

Please be advised that this schedule may be subject to revisions.

Work terms are graded on a pass/fail basis. Each work term is assessed by the Co-op Faculty Advisor on the basis of the student's comprehensive written report and the employer's evaluation of the student's performance on the job.

Students are expected to follow the sequence prescribed for their program. Deviation from the sequence requires the submission of a formal request to the Co-op Faculty Advisor and approval from the School. With permission from the School/Department, students may be allowed to graduate with the co-op endorsement with fewer than the prescribed work terms.