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School of Accountancy


Students may earn a Bachelor of Arts Degree in accounting in Honours Chartered Accountancy Studies (Co-op or Regular) or Honours Management Accountancy Studies (Co-op or Regular), as outlined below. These accounting programs normally involve both academic study and practical work experience, and are designed to help students integrate the two aspects.

The Honours Accountancy Studies Co-op Programs

The School of Accountancy offers Honours Accountancy Co-operative Studies in two key fields - Chartered Accountancy and Management Accountancy.

The Honours Chartered Accountancy program in the Faculty of Arts anticipates the student's completion of a five-year integrated and professionally accredited program of study and work, leading to both an Honours Bachelor of Arts degree and a Master of Accounting degree. Completion of the entire five-year program will lead to fulfilment of the requirements of the Institute of Chartered Accountants of Ontario which qualifies the student for exemptions from other requirements, as described in the section Special Recognition by the Accounting Profession of the Professionally Accredited Stream (PAS). Students may opt to complete only the undergraduate portion, but only completion of the entire five-year program will qualify a student for the above-mentioned exemptions. The Bachelor's portion of the Professionally Accredited Stream (PAS) program is described below. Details of the Master's program (terms 5A and 5B) are found in the Graduate Calendar.

The Honours Management Accountancy program in the Faculty of Arts consists of a four-year program of study and work leading to an Honours Bachelor of Arts degree. This has been designed for students interested in working outside of public accounting in careers such as general management, controllership, management accounting and finance. Successful completion of the four-year program qualifies students to challenge the Society of Management Accountants Entrance Examination. Successful completion of that examination will enable students to enter Year One of the Society's Professional Program.

The first Co-op work term will follow completion of the 2A academic term. Since the first three terms of study in all accounting programs are identical, students do not need to elect Chartered Accountancy or Management Accountancy until they have completed the courses in the joint portion of the program.

The Co-op program involves alternating terms of work and study in approved work settings. Four successfully completed work terms are required for the granting of a Co-op degree. Students may, for reasons beyond their control, fail to satisfactorily complete the full complement of work terms. In these exceptional circumstances, three work terms will be acceptable at the discretion of the School of Accountancy and the Department of Co-operative Education and Career Services. Work-term placements are in an accounting setting in the public and private sectors.

Because the Honours Accountancy Studies Co-op programs require work experience, admission requires Canadian Citizenship or Permanent Residence Status in Canada.

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Admission to Honours Accountancy Studies Co-op

Students may apply for direct admission from high school into the first year of Honours Accountancy Studies Co-op.

Students with an excellent academic record may also be accepted after they have completed one or two years of university studies in any field. As a general rule, qualifying students will be required to complete the required courses listed in the section entitled Degree Requirements, excluding courses for which equivalent status is granted by the School of Accountancy. Depending on the nature of their previous studies, qualified students may be required to complete prerequisite courses prior to being admitted. Further information may be obtained from the Undergraduate Officer, School of Accountancy.

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The Honours Accountancy Studies Regular Program

The Honours Accountancy Studies Co-op programs are the principal programs in the School of Accountancy. In exceptional circumstances, with prior permission of the Undergraduate Officer, students may be admitted to the Honours Accountancy Studies Regular program. This is only available to transfer students or students in Honours Accountancy Studies Co-op who are unable to meet the required work term experience to obtain an Honours Accountancy Studies Co-op degree.

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Degree Requirements

Eligibility for the degree of Bachelor of Arts in the Honours Accountancy Studies (Co-op and Regular) program requires:

  1. Successful completion of a minimum of 40 term courses including the Faculty of Arts requirements with an overall cumulative average of at least 60% and a cumulative average of at least 70% in all required courses listed in (2) below, and all electives labelled accounting (ACC). A 70% continuation average in the major courses will be required in each term after the end of the 2A term. (Students contemplating the five-year professionally accredited stream (PAS) should note that graduate school entry requirements are more stringent than the above. An overall average of 75% is required for entry into the final phase of the PAS program.)
  2. The following courses are required: A schedule outlining the recommended term-by-term sequence of courses is available from the School of Accountancy office.
  3. All substitutions for required courses need prior approval of the Undergraduate Officer or designate.

The Honours Chartered Accountancy program in the Faculty of Arts anticipates the student's completion of a five-year integrated and professionally accredited program of study and work, leading to both a Bachelor of Arts degree and a Master of Accounting degree. At the end of the Honours Chartered Accountancy Studies program, which constitutes the undergraduate portion of the PAS, the student will have completed most of the formal university courses required at present by the Institute of Chartered Accountants of Ontario (ICAO). The other principal requirements for qualification as a CA, as stated by the ICAO, are passing of or being exempted from the ICAO's admission examinations, successful completion of the ICAO's Professional Summer School (offered in May-June by the ICAO), successful completion of the Uniform Final Examinations, and work experience with a designated public accounting firm. By completing the graduate portion of the PAS the student will earn exemption from the ICAO's admission examinations and the Professional Summer School and will be able to proceed to the Uniform Final Examinations directly upon completion of the PAS. For information about the Master of Accounting phase of the PAS program, please refer to the Graduate Calendar.

At the end of the Honours Management Accounting Studies program, the student will have completed the formal university courses required at present to challenge the Professional Studies Entrance Examination of the Society of Management Accountants of Ontario. Successful completion of that examination will enable students to enter Year One of the Society's Professional Program.

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Structuring Electives and Interdisciplinary Studies

Accounting is a multi-disciplinary field and the accounting profession values breadth of academic study. The accounting programs described here purposely provide electives to permit students to broaden their horizons by taking courses beyond the accounting program requirements. Students are advised to consider using their electives in a structured way by completing a minor or diploma in one of the interdisciplinary programs described in this calendar, or by using available electives to choose a series of courses in an area of studies outside the major area to provide some depth of exposure in a field for which a minor or diploma program does not exist. In some of the programs described, some of the courses that are required in the accounting program will also qualify as part of the minor or diploma. Students are encouraged to take full advantage of the opportunities provided by the existence of electives and interdisciplinary studies programs.

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Special Recognition by the Accounting Profession of the Professionally Accredited Stream (PAS)

The five-year professionally accredited stream is the only one in Ontario that has been accredited by the Institute of Chartered Accountants of Ontario as being sufficiently complete to justify special status for its graduates. Completion of the professionally accredited five-year program will lead to fulfilment of the requirements of the Institute of Chartered Accountants of Ontario which qualifies the student for exemptions from all ICAO education requirements (including the accounting, auditing and taxation admission examinations and the ICAO Professional Summer School) except the Uniform Final Examinations (UFE) which can be wiritten at the first opportunity following graduation from the PAS.

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