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Faculty Honours Programs: Requirements

Business-Related Program


The Faculty of Mathematics, in co-operation with the School of Accountancy and the Departments of Economics and Management Sciences at the University of Waterloo (UW) and the School of Business and Economics at Wilfrid Laurier University (WLU), offers three unique Honours programs, Mathematics/Business Administration, Mathematics/Chartered Accountancy, and Mathematics/Management Accountancy, which combine mathematics with accounting and business-related disciplines. In addition, two of the departmental Honours programs, Operations Research and Computer Science/Information Systems, combine more specialized study in the mathematical sciences with similar business-oriented courses.

In addition to providing excellent background preparation for careers in industry, all of these programs can lead to post-graduate studies in business-oriented disciplines. The Mathematics/ Chartered Accountancy undergraduate program, in particular, is specifically designed to be a prelude to UW's two-term Master of Accountancy (MAcc) graduate degree program in the Faculty of Arts.

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Required BUS Courses At WLU

In the program requirements which follow, courses with prefix BUS are offered by WLU's School of Business and Economics. Course descriptions, including prerequisites and the terms in which these courses are normally available to UW students, can be found in the RMath Students' HandbookS. Copies are available in the Mathematics Undergraduate Office (MC 5115).

Note
Because the current cross-registration agreement between UW and WLU applies only for students who are carrying a full-time course load at their home institution, UW students in programs requiring WLU BUS courses should plan their term-by-term course selection to ensure that they will be simultaneously enrolled in at least three UW half-credit courses whenever they are registering for one or more WLU BUS courses.

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Business Administration

The Mathematics/Business Administration program provides an opportunity to combine courses in Actuarial Science, Computer Science, Optimization, and Statistics with courses in Accounting, Business, Economics, and Management Science. Graduates of this program are well prepared to use sophisticated analytical techniques in the solution of business-related problems and adapt to the rapidly changing modern business environment.

Honours Mathematics/Business Administration Program

In conjunction with the common degree requirements in Table I in "Degree Requirements", this program requires at least 20 math half-credits. These overall requirements must include the Faculty core math courses outlined in Table II in "Degree Requirements", one of the course packages (a)-(d) listed below, and the following non-math courses:

All of
ACC 121 Understanding and Using Financial Accounting Information
ACC 122 Understanding and Using Managerial Accounting Information
ACC 371 Managerial Finance 1
ACC 372 Managerial Finance 2
BUS 111W Introduction to Business Organization
BUS 121W Functional Areas of the Organization
BUS 352W Marketing I
BUS 454W Human Resources Management in Canada
BUS 481W Business Policy I
BUS 491W Business Policy II
ECON 101 Introduction to Microeconomics
ECON 102 Introduction to Macroeconomics
M SCI 211 Organizational Behaviour
M SCI 311 Organizational Design and Technology
MTHEL 100 Commercial and Business Law for Mathematics Students

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On entering Year Three of this program, students must register for one of packages (a)-(d) below:

a) Information Systems Package

All of
C&O 350 Linear Programming
CS 230 Introduction to Computers and Computer Systems
CS 330 Management Information Systems
CS 338 Computer Applications in Business: Databases
CS 432 Business Systems Analysis
STAT 331 Applied Linear Models

One of
C&O 367 Nonlinear Programming
C&O 370 Deterministic OR Models
C&O 453 Network Design
C&O 454 Scheduling
PMATH 380A Introduction to Information Theory

One of
STAT 332 Sampling
STAT 333 Applied Probability
STAT 335 Statistical Process Control
STAT 443 Forecasting

One additional 300- or 400-level CS half-credit

One additional 300- or 400-level math half-credit

All of
BUS 362W Marketing II
M SCI 432 Introduction to Production Management

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b) Optimization Package

All of
C&O 350 Linear Programming
C&O 351 Network Flow Theory
C&O 370 Deterministic OR Models
CS 330 Management Information Systems
CS 338 Computer Applications in Business: Databases
STAT 331 Applied Linear Models

Two of
C&O 367 Nonlinear Programming
C&O 450 Combinatorial Optimization
C&O 452 Integer Programming
C&O 453 Network Design
C&O 454 Scheduling
C&O 463 Convex Optimization and Analysis
C&O 466 Continuous Optimization

One of
STAT 332 Sampling
STAT 333 Applied Probability
STAT 335 Statistical Process Control
STAT 443 Forecasting

One additional 300- or 400-level math half-credit

All of
BUS 362W Marketing II
M SCI 432 Introduction to Production Management

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c) Statistics Package

All of
C&O 350 Linear Programming
CS 330 Management Information Systems
CS 338 Computer Applications in Business: Databases
STAT 331 Applied Linear Models
STAT 332 Sampling
STAT 335 Statistical Process Control
STAT 443 Forecasting

One of
C&O 367 Nonlinear Programming
C&O 370 Deterministic OR Models
C&O 453 Network Design
C&O 454 Scheduling

One of
STAT 333 Applied Probability
STAT 430 Experimental Design
STAT 440 Statistical Computing

One additional 300- or 400-level math half-credit

All of
BUS 362W Marketing II
M SCI 432 Introduction to Production Management

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d) Risk Management and Insurance Package

All of
ACTSC 231 Mathematics of Finance
ACTSC 232 Introduction to Actuarial Mathematics
CS 330 Management Information Systems
CS 338 Computer Applications in Business: Databases

Three 400-level ACTSC half-credits, one of which may be replaced by ACTSC 363

Three of
C&O 350 Linear Programming
C&O 370 Deterministic OR Models
STAT 331 Applied Linear Models
STAT 333 Applied Probability
STAT 443 Forecasting

One of the above three courses may be replaced by an additional 400-level ACTSC half-credit

All of
MTHEL 305A General Life Insurance 1
MTHEL 305B General Life Insurance 2

Recommended courses
DRAMA 223 Public Speaking (for all four packages)
ACTSC 221 Mathematics of Investment (for packages (a)-(c) above)

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Accounting

The Honours Mathematics/Chartered Accountancy and Mathematics/Management Accountancy programs provide a strong background in Computer Science, Optimization, and Statistics combined with an extensive professionally-oriented sequence of Accounting courses. Graduates of these programs are well prepared to play a leading role in the increasingly important development and utilization of computer-based accounting information systems, the analysis of the information provided by such systems, and the subsequent decision-making processes and allocation of resources so crucial to an organization's success in the modern business world.

Both Mathematics/Accountancy programs involve four co-op work terms, the first of which occurs in the Winter term immediately following the Fall 2A academic term (see the "Work/Study Sequence" chart). Students are exempted from paying co-op fees for their 1A and 1B terms.

During their first three terms of study, Math/Accountancy students are not designated either as Chartered Accountancy or Management Accountancy, since the two programs have a common curriculum for the 1A, 1B and 2A terms. During the 2A term, however, when they are preregistering for their 2B courses, students must make a choice as to which Accountancy program they wish to pursue.

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Honours Mathematics/Chartered Accountancy Program (Co-operative only)

In conjunction with the common degree requirements in Table I in "Degree Requirements", this program requires at least 20 math half-credits. These overall requirements must include the Faculty core math courses outlined in Table II in "Degree Requirements" and the following courses:

All of
C&O 350 Linear Programming
C&O 351 Network Flow Theory
C&O 370 Deterministic OR Models
CS 330 Management Information Systems
CS 338 Computer Applications in Business: Databases
CS 432 Business Systems Analysis
STAT 331 Applied Linear Models
STAT 332 Sampling
STAT 443 Forecasting

One additional math half-credit (ACTSC 221 - Mathematics of Investment is recommended)

All of
ACC 128 Core Concepts of Accounting Information 1
ACC 131 Management 1
ACC 228 Core Concepts of Accounting Information 2
ACC 232 Communicating Information for Decision Making
ACC 371 Managerial Finance 1
ACC 372 Managerial Finance 2
ACC 382 Cost Management Systems
ACC 392 Intermediate Financial Accounting
ACC 401 Accounting Theory
ACC 451 Audit Strategy
ACC 461 Taxation 1
ACC 462 Taxation 2
ACC 491 Advanced Financial Accounting
ECON 101 Introduction to Microeconomics
ECON 102 Introduction to Macroeconomics
MTHEL 100 Commercial and Business Law for Mathematics Students

Two additional math or non-math (Rfree-choiceS) half-credits

Notes

  1. To graduate with an Honours BMath/Accounting degree, students in this program must achieve a cumulative average of at least 70% based upon all the non-math courses explicitly required in the program. This average will include all grades in these courses, whether passed, failed, or repeated.
  2. To remain eligible to continue in this program, students must normally have a cumulative average of at least 70% based upon all the non-math courses taken to date which are explicitly required in the program. This average will include all grades in these courses, whether passed, failed, or repeated. This criterion will apply beginning at the end of the 2A term and each term thereafter through to graduation.
  3. The average requirements for explicitly required non-math courses in Notes 1 and 2 above are in addition to the overall cumulative average (CAV) and major average (MAV) requirements specified in Table I in "Degree Requirements" (which includes the degree requirements common to all BMath Honours programs) and described in detail in sections 1 through 4 "Faculty Policies".
  4. There is virtually no flexibility for altering the academic/ work-term sequences prescribed for the Mathematics/ Accountancy programs (see the "Work/Study Sequence" chart) because of limited term offerings and structured prerequisites for most ACC courses. Since deviations from these sequences can cause a delay in graduation of as much as one calendar year, alterations should not be considered without careful consultation with the program's Faculty Advisor.
  5. The order in which required non-math courses in this program are taken is very important and there is little room for flexibility (for the same reasons in Note 4 above). At preregistration time each term, students should be sure to consult with the program's Faculty Advisor.
  6. Students may not repeat an ACC course in which they have obtained a grade of C- or higher. ACC courses completed with a D+, D, or D- grade may be repeated at most once, but only with approval from the School of Accountancy.
  7. Students who do not have credit for OAC Accounting, or the equivalent, must successfully complete ACC 101 (as a prerequisite for subsequent required ACC courses) in their 1A term.
  8. Students who have attempted, to the satisfaction of the Mathematics Faculty Standings and Promotions Committee and the Department of Co-operative Education and Career Services, to gain employment for all four available work terms, but are successful in so doing for only three work terms, will be eligible for a Co-op degree, provided all their work terms have been satisfactory, they have three satisfactory work reports, and they have completed all academic graduation requirements for the program. (Students who are successful in gaining acceptable employment for all four work terms will require the normal four satisfactory work terms and work reports to be eligible for a Co-op degree.)
  9. Students who meet all academic graduation requirements for this program, but who do not meet the minimum requirements for a Co-op degree (see preceding Note 8) may, at the discretion of the Mathematics Faculty Standings and Promotions Committee, be granted a Regular Honours BMath/Accounting degree.

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Eligibility for UW's Master of Accounting (MAcc - CA Studies) Program

BMath graduates of the Honours Mathematics/Chartered Accountancy program who satisfy the additional requirements listed below are eligible to enrol in the School of Accountancy's Master of Accounting (MAcc) degree program in the Faculty of Arts. This eight-month graduate program begins in the Winter term immediately following completion of the 4B Fall term in the BMath undergraduate program.

Two of the courses in the above that are required for entry to the MAcc graduate program may be taken as the RTwo additional free-choice half-creditsS in the BMath undergraduate degree requirements listed earlier. The remaining two courses, above and beyond the 40 courses required for the BMath degree, can be incorporated by taking a sixth on-campus course (at no extra tuition cost) during two of the academic terms (an option available only to students with strong academic records) or by taking two Distance Education courses during Co-op work terms. Although Mathematics Faculty policy does not normally permit students to take Distance Education courses during Co-op work terms if the courses are explicitly required in their program, exceptions are usually made for Chartered Accountancy students taking more than the minimum 40 courses required for their BMath Honours degree. (At the present time, ACTSC 221, ECON 101, ECON 102 and PHIL 215 are available by Distance Education.)

Students who successfully complete the Chartered Accountancy MAcc program are exempt from all additional professional educational requirements set by the Institute of Chartered Accountants of Ontario (ICAO) and may write the nation-wide Uniform Final Examination (UFE) at the first opportunity following graduation, normally in September immediately following August completion of the MAcc program.

BMath graduates of the Honours Mathematics/Chartered Accountancy program who do not complete the MAcc program, but still wish to qualify to write the UFE, will first need to take some additional Accounting courses elsewhere following graduation and satisfy the various additional professional certification requirements of the ICAO from which students completing the MAcc program are exempted.

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Honours Mathematics/Management Accountancy Program (Co-operative only)

In conjunction with the common degree requirements in Table I in "Degree Requirements", this program requires at least 20 math half-credits. These overall requirements must include the Faculty core math courses outlined in Table II in "Degree Requirements" and the following courses:

All of
C&O 350 Linear Programming
C&O 351 Network Flow Theory
C&O 370 Deterministic OR Models
CS 330 Management Information Systems
CS 338 Computer Applications in Business: Databases
CS 432 Business Systems Analysis
STAT 331 Applied Linear Models
STAT 332 Sampling
STAT 443 Forecasting

One additional math half-credit (ACTSC 221 - Mathematics of Investment is recommended)

One English writing-skills course (one of ENGL 210C, 210E, 210F, or an approved equivalent)

All of
ACC 128 Core Concepts of Accounting Information 1
ACC 131 Management 1
ACC 228 Core Concepts of Accounting Information 2
ACC 232 Communicating Information For Decision Making
ACC 371 Managerial Finance 1
ACC 372 Managerial Finance 2
ACC 382 Cost Management Systems
ACC 392 Intermediate Financial Accounting
ACC 401 Accounting Theory
ACC 454 Comprehensive/Operational Auditing
ACC 465 Taxation Decision Making
BUS 352W Marketing I
ECON 101 Introduction to Microeconomics
ECON 102 Introduction to Macroeconomics
M SCI 211 Organizational Behaviour
M SCI 432 Introduction to Production Management
MTHEL 100 Commercial and Business Law for Mathematics Students

Notes

  1. Notes 1 through 9 following the degree requirements for the Honours Mathematics/Chartered Accountancy program also apply to Honours Mathematics/Management Accountancy.
  2. After completion of their University course work, Ontario students seeking their Certified Management Accountant (CMA) professional designation must write the Professional Studies Entrance Examination of the Society of Management Accountants of Canada (SMAC). Successful candidates are then eligible to enter the first year of the two-year Professional Program presented by the Society of Management Accountants of Ontario (SMAO), concluding with a CMA designation. The Professional Program is taken simultaneously with holding full-time employment within an accounting/business environment approved by the SMAO.

    At the time of this Calendar printing, the Mathematics/Management Accountancy program requirements listed above include all the formal University course work presently required to challenge the SMAC's Entrance Examination. There are, however, a number of further courses that Accounting professionals feel provide very valuable additional background for the SMAO's Professional Program and a subsequent career in Management Accounting. In fact,Jin the near future, it is anticipated that two of the courses in question, ACC 480 and ACC 487, may become required courses to challenge the SMAC's Entrance Examination. For these reasons, it is strongly recommended that graduates of the Mathematics/ Management Accountancy program who are planning to seek their CMA designation should include ACC 480, ACC 487 and at least three further courses, from the following list, in their undergraduate course work. These courses would be above and beyond the 40 courses required for the BMath degree.

    ACC 480 Selected Problems and Cases in Managerial Accounting
    ACC 487 Management Accounting Policy Analysis and Integration
    ACC 488 Project
    ECON 331 International Trade
    ENV S 220 (or ECON 357)JEnvironmental Economics
    PHIL 215 Professional and Business Ethics
    PSCI 231 Government and Business in Canada

    There are several ways of incorporating these extra courses into the program of study. The most common way is for students to spread their course selection over nine on-campus terms rather than the customary eight terms. This is normally done by enrolling for the Winter term following completion of the 4B Fall term. (Co-op fees do not apply for this extra term.) Extending the program in this way does not delay graduation or professional certification, since the SMAC Entrance Examination is normally written in June immediately after University graduation in May, with the SMAO's two-year Professional Program commencing the following September.

    The alternatives to taking a ninth full-time study term to incorporate the extra recommended courses are to take Distance Education courses during Co-op work terms and/or extra courses during selected academic terms on campus. Students with strong academic records are permitted to take six courses per term (at no extra tuition cost) rather than the standard load of five. Athough Mathematics Faculty policy does not normally permit students to take Distance Education courses during Co-op work terms if the courses are explicitly required in their program, exceptions are usually made for Management Accountancy students taking more than the minimum 40 courses required for their BMath Honours degree. (At the present time, ACTSC 221, ECON 101, ECON 102 and PHIL 215 are available by Distance Education.)

    When considering these various alternatives, students should plan ahead as much as possible, pay close attention to the terms when various courses are available, and consult with their Faculty Advisor on a regular basis.

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