Master of Accounting. Program

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Master of Accounting

Program

Information Guide

2016

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IMPORTANT DATES

Fall 2015

October 15 ... Deadline to apply to MAcc through OUAC

October 16 ... Deadline to complete LEARN Winter course selection quiz November 23 ... Quest course enrolment for Winter term opens

December 1 ... Deadline to submit Undergrad Intent to Graduate Form to Registrar’s Office

December 10 ... Winter Term Fees Due

Winter 2016

January 4 ... Winter Term Lectures Begin

January 29 ... Deadline to complete LEARN Spring course selection quiz February 15-19 ... Reading Week

March 25 ... University closed – Good Friday March 31 ... Winter Term Lectures End April 4-11 ... MAcc Examination Period

Spring 2016

April 25 ... Spring Term Fees Due May 2 ... Spring Term Lectures Begin May 23 ... University closed – Victoria Day July 1 ... University closed – Canada Day July 21 ... Spring Term Lectures End July 22-July 29 ... MAcc Examination Period

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Making Informed Decisions

As a UW undergraduate accounting student considering the MAcc Program, you have many important decisions to make. This Guide provides you with most of the information you will need to make informed decisions about the program, but you should also attend the Program and Course Information sessions, speak to faculty who teach in these programs, and talk to alumni who have made these decisions in prior years.

The new CPA qualification process contains multiple pathways to the Common Final Evaluation (CFE) and CPA designation, while still allowing some students to have the CA designation tagged onto their CPA if certain conditions are met. Most important, as CPA-Accredited programs, the UW undergraduate/MAcc degree combination still provides direct access to the CFE for successful graduates. Full details of the new pathways and CA tagging are provided in this Guide, so please be sure to read it thoroughly and carefully so that you understand all your options.

As Directors of the MAcc program, we are keen to uphold its high standards and will provide you with whatever assistance you may need to make informed decisions. If you have questions about admission or course selection issues, you should direct them to Julie at the email address below. Any issues of a purely administrative or clerical nature should be directed to Kaitlyn Kraatz, the Graduate Studies Co-ordinator ([email protected]). All other queries can be directed to Greg at the address below.

Greg Berberich, CPA, CA, PhD Julie Robson, CPA, CA, MAcc

CPA (Illinois)

Director Associate Director, Admissions

MAcc & Diploma Programs MAcc & Diploma Programs

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MAcc Program Information Guide

The MAcc is a professional degree designed to combine the exploration of career interests with preparation for the CFE. Students with a specific career interest may select courses that provide them with a head start on this career. Students without a specific career interest may take courses in several practice areas to determine which careers they might like to pursue. All MAcc students must take five courses that develop the technical and enabling competencies needed to pass the CFE and obtain the CPA designation. The MAcc program is accredited by CPA Canada, so students who successfully complete the program may proceed directly to the September 2016 CFE

.

Career Paths

The MAcc program is designed to combine professional accounting career interests with preparation for the CFE. Some students considering the MAcc program may have already identified a particular career path by the end of their undergraduate program, whereas others may still be uncertain about the accounting career they want to pursue. The MAcc program offers benefits to both groups.

Students who have determined a particular career path can select courses that will develop the competencies required for success in their chosen career. Students considering a career as part of the management team of an organization can, for example, take courses that will expand their knowledge of contemporary management issues, assist them in designing and implementing incentive systems, improve their financial statement analysis competencies, or expand their ability to develop and execute profitable business models.

Students who are less certain about their careers can select courses that will provide them with exposure to a variety of practice areas, such as forensic accounting, tax or business valuations, to determine the practice areas they would like to pursue upon completing the MAcc.

The Course Information section of the Guide provides some guidance on selecting courses pertaining to specific designations and careers.

MAcc Pathways to a CPA(,CA) Designation

Within the MAcc program there are four distinct pathways to the CPA designation, with two of them also leading to a CA tag if you meet the criteria below. These pathways are described on the next page and the decision tree that follows will help you determine which of these pathways you are eligible to follow, along with the MAcc courses you must take for each pathway.

Criteria Required for a CA Tag (all four criteria must be met by February 1, 2020)

1. Registered as CA Legacy student in good standing with CPA Ontario as atJanuary 31, 2015. 2. Complete the 51-Credit-Hour-CA/Public Accounting or CA/Public Accounting pathway through the

MAcc (see next page for details on these pathways).

3. Demonstrate depth in the Assurance and Financial Reporting areas of the CPA Competency Map when writing the CFE.

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The 51-Credit-Hour Pathways

Any MAcc student with a grade below 60 in any CPA-required undergraduate course completed after April 30, 2014 (see next page for list of courses) must follow one of the two 51CH pathways through the MAcc. All other MAcc students may follow one of the two other pathways in the next subsection.

The 51-Credit-Hour-CA/Public Accounting (51CH-CA/PA) Pathway

Students who fall in the above category must follow this pathway if they want to (1) be eligible for a Public Accounting Licence* or (2) be eligible for the CA tag (all other CA tag conditions must be met as well).

The 51-Credit-Hour-CPA (51CH-CPA) Pathway

Students who follow this pathway will be eligible for a CPA designation, but will not be eligible for either a Public Accounting Licence* or a CA tag.

The CA/PA and CPA Pathways

Students with grades of 60 or higher in all CPA-required undergraduate courses (see next page for list) may follow one of these two pathways:

The CA/Public Accounting (CA/PA) Pathway

Students must follow this pathway if they want to (1) be eligible for a Public Accounting Licence* or (2) be eligible for the CA tag (all other CA tag conditions must be met as well).

The CPA Pathway

Students who follow this pathway will be eligible for a CPA designation, but will not be eligible for either a Public Accounting Licence* or a CA tag.

* A Public Accounting Licence is required to sign assurance reports such as audit or review engagement reports. It is not required to simply work as an auditor at a public accounting firm. Even students who do not follow a Public Accounting pathway to the CPA designation will be able to receive a Licence at a later date by fulfilling supplementary requirements to be set by the Public Accountants’ Council of Ontario.

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Non-MAcc Pathways to a CPA Designation

For students who do not want to or are ineligible to complete the MAcc program, there are two pathways to the CPA designation, the CPA PEP pathway and the CPA PREP/PEP pathway. Neither of these pathways permit students to obtain the CA tag, and the PREP/PEP pathway also precludes students from obtaining a Public Accounting Licence. These pathways are described below and the decision tree on the next page will let you determine which of these pathways you are eligible to follow.

CPA PEP Pathway

Students who meet the entry criteria for the CPA Professional Education Program (PEP; see next page for criteria) may proceed directly to the first Core module of the program. Students eligible to follow this pathway could reach the CFE by September 2017.

CPA PREP/PEP Pathway

Students who do not meet the PEP entry criteria must first repeat applicable university courses or take the equivalent modules in the CPA Prerequisite Education Program (PREP). The PREP courses are cheaper and quicker, so they are the recommended option for students who must follow this pathway. Once the PEP entry criteria have been met, students may proceed to the first Core module of the PEP. Students who must follow this pathway will not be able to reach the CFE until 2018 at the earliest.

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Non-MAcc Pathways Decision Tree

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Admission & Degree

Requirements

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ADMISSION & DEGREE REQUIREMENTS

Admission Requirements

Admission to the MAcc program requires ALL of the following:

1. Successful completion of one of the following University of Waterloo undergraduate degrees by no later than February 1, 2016:

• Bachelor of Accounting and Financial Management • BMath Chartered Professional Accountancy Studies, or

• BSc in Biotechnology Chartered Professional Accountancy Studies

2. Achievement of at least a 75% average (calculated with rounding) in the last two years of the undergraduate program above. This admission average is calculated using the grades obtained in all courses completed beginning in the 3A term and ending in the term immediately preceding commencement of the MAcc program. If a course has been repeated, grades from all attempts will be included in the calculation of this admission average.

3. Achievement of at least a 75% average (calculated with rounding) in the following set of courses. If a course has been repeated, the grade obtained in the student’s first attempt at the course will be included in the calculation of this admission average. Students who took any of the following

courses at an institution other than UW must include with their MAcc application an official transcript from the other institution that provides details of the course(s) taken and the grade(s) received. • AFM 311 • AFM 341 or CS 330 • AFM 351 • AFM 362 • AFM 363 • AFM 373 or AFM 476 • AFM 391 • AFM 401 • AFM 433 • AFM 462

• AFM 479 or AFM 322 and AFM 424 • AFM 481

• AFM 482 • AFM 491

For any pre-Class of 2016 students applying to the MAcc, the following set of courses will be used to determine your special admission average: AFM 331, AFM 341 or CS 330, AFM 361, AFM 391, AFM 401, AFM 431 or PHIL 215, AFM 451, AFM 461, AFM 471 or AFM 476, AFM 481, AFM 482, and AFM 491.

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Conditional Admission Offers

Once all MAcc applications have been received and reviewed, conditional offers of admission will be made to all applicants meeting both of the following requirements:

1. Achievement of at least a 75% average (calculated with rounding) across all courses completed between and including the student’s 3A term and the Spring 2015 term. Where a course has been repeated, grades from all attempts will be included in the calculation of this admission average.

2. Achievement of at least a 75% average across all courses in the list below that have been completed by the time of application to the program. Where a course has been repeated, the grade obtained in the student’s first attempt at the course will be included in the calculation of this admission average.

Students who took any of the following courses at an institution other than UW must include with their MAcc application an official transcript from the other institution that provides details of the course(s) taken and the grade(s) received.

• AFM 311 • AFM 341 or CS 330 • AFM 351 • AFM 362 • AFM 363 • AFM 373 or AFM 476 • AFM 391 • AFM 401 • AFM 433 • AFM 462

• AFM 479 or AFM 322 and AFM 424 • AFM 481

• AFM 482 • AFM 491

Students who have not received a numerical grade in at least seven of these courses by the time of application will be deemed not to have met this requirement.

Any students who do not receive a conditional offer of admission will be considered for admission once all 4B grades are final.

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Degree Requirements

To receive an MAcc degree, students must:

1. Achieve a grade of at least 60% in each MAcc course and a minimum overall average of 75% in all eight MAcc courses (calculated without rounding).

AND

2. Complete the online Graduate Academic Integrity Module (Graduate AIM).

At the conclusion of the winter term, a panel of SAF faculty is convened to conduct a review of each MAcc student whose cumulative average is below 75%. These students may be given the opportunity to proceed to the spring term if, in the opinion of the review panel, they have a reasonable prospect of achieving the degree requirements upon completion of the spring term. Any student who is deemed not to have a reasonable prospect of satisfying the degree requirements by the end of the spring term will be required to withdraw from the MAcc program.

CFE Eligibility

In accordance with the program’s accreditation agreement with CPA Canada and CPA Ontario, to be placed on the list of students eligible to proceed directly to the CFE, students must:

1. Satisfy the MAcc degree requirements above. AND

2. Achieve a passing grade on the Capstone 1 team project completed as part of ACC 610 in the Spring term of the MAcc program.

It is therefore possible to satisfy MAcc degree requirements but still not be permitted to proceed directly to the CFE.

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OTHER PROGRAM POLICIES

Academic Integrity

All MAcc students are subject to UW’s Academic Integrity policies, which can be found under Policy 71 at the UW Secretariat’s website.

Missing Final Exams for Valid Reasons

Students should note that while UW's examination policy does allow certain valid reason for missing a final examination, it does not automatically entitle a student to an alternate exam before the end of the program year (See UW’s Exam Regulations at the Registrar’s website for more information.). Because

it is not possible to set, administer, and grade a deferred final exam by the end of the program year, completion of the MAcc degree requirements is effectively deferred by one year for any students missing a final exam for a valid reason.

Section Assignments

Students enrolled in courses with multiple sections must attend the section in which they are registered, unless they receive prior instructor approval to attend another section due to an acceptable, non-recurring conflict.

Communicating with Students

All program-related email is sent to your @uwaterloo.ca address. If you wish to have email redirected to another address, please refer to the mail-forwarding guidelines at UW’s Official Student Email Address webpage.

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COURSE INFORMATION

MAcc Courses

Course offerings fall into three categories: CPA-Required Courses

ACC 610 – Professional Accounting Practice ACC 611 – Financial Reporting with Integration

ACC 680 – Management Accounting, Strategy and Finance

All students pursuing a CPA designation must take these courses.

CPA-Elective Courses

ACC 607 – Tax Issues Integration ACC 650 – Assurance and Governance ACC 685 – Performance Management

ACC 690 – Corporate Financial Management

All students pursuing a CPA designation must take two of these courses and can take as many as three. Students following the CA/PA or 51CH-CA/PA pathway through the MAcc must take ACC 607 and ACC 650. Students following the 51CH-CPA pathway must take ACC 650. All other CPA students may choose any of the electives.

MAcc-Elective Courses ACC 605 – International Tax ACC 606 – Business Valuations

ACC 609 – Financial Statement Analysis ACC 621 – Core IT Concepts for Accountants ACC 622 – Electronic Commerce

ACC 623 – Business Technology Law - IT Challenges & Opportunities ACC 652 – Forensic Accounting

ACC 662 – Tax Policy

ACC 690 – Applications of Data Analytics in Auditing and Fraud Detection ACC 690 – Professional Judgement

ACC 690 – Tax for the CFO

MAcc students who take two CPA-Elective courses must take three MAcc-Elective courses, while those who take three CPA-Elective courses must take two MAcc-Elective courses. All students following a 51CH pathway must take ACC 621, so they can take only two CPA-Elective courses.

The table on the next page provides key details on these course offerings and also suggests which elective courses to consider if you are interested in a particular career path. The pages following the table provide descriptions of each course.

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MAcc Course Offerings

Winter MAcc Courses # of

Sections Instructors

Elective Suggestions by Sample Career Paths

Controller Taxation Corp. Finance Assurance Info Systems

CPA-Required Courses

ACC 611 Financial Reporting w/ Integration 4 Weidman 3/Mann 1 ACC 680 Mgt. Accounting, Strategy &

Finance 4

Russell 3/Vanden Bosch 1

CPA-Elective Courses (must take 2 of these)

ACC 607 Tax Issues Integration* 4 Robson 3/Lin 1 X

ACC 650 Assurance & Governance* 4 Pomeroy 3/TBD 1 X X ACC 685 Performance Management 2 Webb 2 X

ACC 690 Corporate Financial Management 2 Hayes 2 X X

MAcc-Elective Courses

ACC 621 Core IT Concepts for Accountants** 1 Datardina X X X ACC 622 Electronic Commerce 1 Boritz X ACC 652 Forensic Accounting 1 Robinson X

Spring MAcc Courses

CPA-Required Course

ACC 610 Professional Accounting Practice 4 Berberich

MAcc-Elective Courses

ACC 605 International Tax 1 Benvenuti X

ACC 606 Business Valuations 3 Vert X X X

ACC 609 Financial Statement Analysis 3 Mann X X X

ACC 623 Business Technology Law 1 Charters X ACC 662 Tax Policy 1 Macnaughton X

ACC 690 Applications of Data Analytics in

Auditing and Fraud Detection 1 IV X X ACC 690 Tax for the CFO 1 Lin X X

ACC 690 Professional Judgement 1 Boritz X X * CA/PA and 51CH-CA/PA pathway students must take these two CPA-Elective courses.

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ACC 610

Professional Accounting Practice

CPA-Required

Faculty: Greg Berberich and various Group Facilitators Term Offered: Spring

Career Relevance

This course is required for all students pursuing a CPA designation. It will be used to deliver CPA Canada’s Capstone 1 module and will also provide extensive exam-writing practice to prepare students for all three days of the CFE.

Course Overview and Objectives

Group Case Component (graded on Pass/Fail basis)

The first day of the CFE consists of one large case featuring the same company that is the subject of CPA Canada’s Capstone 1 module, which consists solely of a major group case analysis with a related written report and oral presentation. One significant component of ACC 610 is the direct delivery of this Capstone module. Per CPA Canada’s Capstone 1 guidance, this module’s primary objectives are to:

1. Continue the development of candidates' enabling competencies, particularly their teamwork and leadership, professional and ethical behaviour, problem-solving and decision-making, and communication competencies;

2. Simulate an authentic business problem, including gathering and evaluating relevant information, developing a written report, and preparing an oral presentation suitable for delivery to a board of directors or senior management team;

3. Prepare candidates for the Common Final Examination, particularly Day 1, which will draw on both the content and the skills developed in Capstone 1;

4. Continue the development of candidates' integration of technical competency areas;

and key aspects of the module include:

• a significant written report that simulates a report to a board of directors or team of senior executives

• an oral team presentation that simulates a presentation to a board or team of senior executives

• structured time for questions and answers that simulates a question period from a board or team of senior executives

• individual reflections and peer evaluations.

Each group will be assigned an outside facilitator who will provide guidance (not solutions!) as the group completes its work.

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ACC 610

Professional Accounting Practice

Course Overview and Objectives (continued)

Individual Exam-Writing Component

This component of the course will provide extensive opportunities to fine-tune the competencies required for success on the CFE. Its broad objectives are to:

1. Continue your development of the CPA Competency Map’s enabling competencies, particularly your written communication and self-management competencies;

2. Continue the development of your ability to draw on and integrate knowledge from the CPA Competency Map’s six technical competency areas;

3. Prepare you for the various types of cases you will encounter across all three days of the CFE.

These objectives will be accomplished using weekly practice exam-writing sessions, in-class debriefing of cases, peer evaluations, and formal case examinations.

Course Materials

All required materials will be distributed via the course website. The CPA

Handbook and Canadian Income Tax Act will also be important resources.

Proposed Course

Evaluation and Workload

NOTE: The workload in this course will be very heavy. All work related to the Capstone 1 group project will be done outside of class time and the project will be much more challenging than any you’ve encountered before: “The case for Capstone 1 is unlike other cases that candidates would have seen in the CPA PEP [or university] due to its complexity and length, its increased focus on strategic analysis, its integrative nature, its requirement for external research, and the potential for increased ambiguity and lack of directedness for critical variables and assumptions.” (CPA Canada)

In addition, the work required for the individual exam-writing component will be roughly equivalent to that of a standard MAcc course. You should

therefore be prepared to work very hard in this course.

Final grades in the course will likely be determined in the following manner:

Component Evaluation

Entry-Level Competency Diagnostic Examination Class Participation

Core-Level Competency Diagnostic Examination

10% 20% 10%

Midterm Examination 30%

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ACC 611

Financial Reporting with Integration

CPA-Required

Faculty: Professors Shari Mann & Christine Wiedman Term Offered: Winter

This course is required for all students pursuing a CPA designation. It will help you develop an in-depth knowledge of financial reporting and integrate this knowledge with other CPA technical competencies (specifically assurance and tax).

Course Overview

and Objectives The main objectives of the course are:

 To further develop your understanding of key financial reporting issues,

 To help you apply your knowledge in the analysis of cases, through the identification of issues, and the evaluation and discussion of alternatives and recommendations,

 To develop your ability to critically assess existing standards, and  To enhance your ability to integrate and communicate financial

reporting, assurance and tax information.

Relevance for Professional Designation Accreditation

The course is primarily concentrated in the Financial Reporting area of the CPA Competency Map. This competency is one of the knowledge areas required for the CFE. The course will also develop many of the Map’s enabling competencies and cover some topics from the Assurance and Tax areas, mainly through the use of multi-subject cases.

Course Materials Required Materials:

1. ACC 611 Course Package (includes readings and cases) – purchased at the University bookstore

2. The CPA Canada Handbook, Part I – International Financial Reporting

Standards, Part II – Accounting Standards for Private Enterprises, and

Public Sector Accounting Standards Available through the UW library system

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ACC 611

Financial Reporting with Integration

Anticipated Workload and Course Grades

Graded Component Weight

Class Contribution and Participation Interim Case Submission

20% 5%

Group Presentation and Handout 30%

Final Exam 45%

Total 100%

Tentative Course Outline

FOR REFERENCE ONLY & SUBJECT TO CHANGES

Week Topic

1 Introduction and Case Analysis

2 Conceptual Framework, Financial Statement Presentation and Public Sector

Accounting Standards

3 Revenue Recognition and Earnings per Share

4 Inventory, Liabilities and Subsequent Events

5 Leases and Share-based Payment

6 Financial Instruments

7 Reading Week – No Class

8 Employee Benefits and Decommissioning Provisions

9 Tangible and Intangible Capital Assets

10 Impairments and Fair Value

11 Business Combinations and Strategic Investments

12 Income Taxes, Related Party Transactions and Foreign Currency Translation

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ACC 680

Management Accounting, Strategy, and Finance

CPA-Required

Faculty: Grant Russell CPA, CMA and Nancy Vanden Bosch, CPA, CA, CMA

Term Offered: Winter Career

Relevance

This is an essential course for anyone interested in obtaining a professional accounting designation or pursuing a career where in-depth knowledge of management accounting is important.

The main objectives of the course are:

• To further develop your ability to apply key management accounting methods and analytical tools;

• To improve your case analysis capabilities, through the identification of issues, and the evaluation and discussion of alternatives and recommendations;

• To further develop your ability to integrate strategic thinking and financial management considerations while making

recommendations; and,

• To enhance your ability to communicate management accounting information and to communicate analysis performed to support management decision-making.

The course focuses on the Management Accounting competency of the CPA Competency Map. This competency is significant in that it is one of two areas of depth to be examined on the new Common Final Exam (CFE). The course integrates specific competencies from the Strategy and

Governance competency area and the Finance competency area of the CPA Competency Map.

The course also provides the opportunity to further develop enabling competencies, including problem-solving and decision-making capabilities and communication skills.

The course materials include a set of cases available on line. Some cases not available on line may require a small fee. Additional review resources may be assigned for some topics from:

− your AFM 481 and AFM 482 textbooks;

− Management Accounting Standards published by CPA Canada; and, − Harvard Business Review - articles are available for free through the

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ACC 680

Management Accounting, Strategy, and Finance

The course is a case-based learning experience. The assigned cases are discussed and debriefed during class. Face-to-face class time is used

primarily for case discussion and group debrief exercises. Prior to class, you analyze the case assigned for the class, completing assigned readings as needed to reinforce technical competencies learned during undergrad courses. After class, you do a more detailed case debriefing to identify your individual areas of strength or needed improvements.

In this course, you are expected to apply knowledge and skills developed during your undergraduate program. You are also exposed to additional readings to deepen your understanding of the following topics:

• management information requirements (identification of data requirements to address performance and risk management needs), • business planning and analysis (integration of strategy development,

capital budgeting, operational budgeting, and reporting against performance targets)

• cost management (cost allocation principles and methods using an integrated classification scheme of direct/indirect and fixed/variable costs)

• revenue management (revenue analysis and forecasting techniques), and

• segment profitability (product and customer segment profitability reporting for specific decision-making purposes).

Course grades will likely be determined in the following manner:

Class Participation/Case Debrief Contribution Case Assignment 20% 5% Team Presentation 15% Mid-term Exam 20% Final Exam 40% Total 100%

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ACC 607

Tax Issues Integration

CPA-Elective

(All students following the CA/PA or 51CH-CA/PA pathway must take this course.)

Faculty: Professor Julie Robson CPA, CA Term Offered: Winter

The course is relevant to students interested in developing tax issue

identification and analysis skills and understanding the interrelationship of tax issues in practical settings.

The course provides students with experience identifying tax issues, and integrating tax knowledge and principles learned in the undergraduate tax courses. This objective will be achieved through preparation and in-class discussion of case studies, and by completing case assignments.

The course will be of benefit to students preparing for the CFE. Course content will take into account the enabling competencies and the specific taxation competencies in The CPA Competency Map for entry level

accounting professionals. Issue identification and case writing skills will be emphasized.

Required texts:

• Course Case Package (posted in Learn) • The Canadian Income Tax Act

• R.E. Beam, S.N. Laiken and J.J. Barnett, Introduction to Federal

Income Taxation in Canada, current edition

Proposed Course

Evaluation and Workload

Evaluation of advance preparation through participation in class discussions and periodic submission of advance preparation is a significant component of the final grade. The Group Case Assignment is completed in groups of four.

Final grades in the course will be determined in the following manner:

Workload Evaluation

Advance preparation 20%

Case Assignment (Group): Due week 4 25%

Midterm Case Exam (Individual): Due week 8 25%

Final Case Exam (Computer lab) 30%

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ACC 650

Assurance & Governance

CPA-Elective

(All students following the CA/PA, 51CH-CA/PA, or 51CH-CPA pathway must take this course.)

Faculty: Bradley Pomeroy Term Offered: Winter

This course is for students interested in joining the public accounting profession. The public accountant’s traditional role, as an external auditor working at an accounting firm, is to plan and perform audits of company financial statements. However, the public accountant can take on a variety of other assurance roles for companies (e.g., as an internal auditor), regulators (e.g., as an inspector for the Canadian Public Accountability Board or CPAB), and other organizations (e.g., as an auditor for Fairtrade Canada). This course will help you prepare for a career as a public accountant by enhancing the breadth and depth of your understanding of assurance and governance practices.

This course is designed to develop your ability to exercise appropriate professional judgment in the areas of assurance, governance, and financial reporting. In particular, you will gain experience in identifying, ranking, analyzing, and integrating assurance, governance, and financial reporting issues. By the end of the course, you should be able to perform such tasks with a high level of professional competence.

This course uses an active learning approach, which involves the analysis and discussion of a variety of cases, Uniform Evaluation (UFE) simulations, and related professional and research articles. To achieve the learning objectives, you need to thoroughly read each case, review any related conceptual and technical material, and thoughtfully assess each of the issues in the cases. Most important, you are expected to actively participate in the discussion by sharing your thoughts and opinions on the assigned cases and readings.

This course is designed to develop your ability to apply your knowledge and understanding of assurance concepts in a competency-based learning framework. In terms of the CPA Competency Map, this course is focused on the audit and assurance technical competency area, but also integrates technical competencies from the strategy and governance, financial reporting, and finance areas. This course will also help you develop many of the enabling competency areas. Course

Materials

 CPA Canada Handbook

 Assigned UFE simulations will be available on LEARN

 Other cases and readings will either be available on LEARN, library course reserve, or links to the source will be provided

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ACC 650

Assurance & Governance

Overview of Course Outline

The specific competencies to be covered in this course can be identified by downloading and reviewing the Competency Map ( click link).

This course will cover the competencies listed for Elective Module 3 (E3) – Assurance, which can be found on pages 61-74 of the Competency Map. You will notice that each competency has a corresponding proficiency level from C to A. This course will prioritize its competency coverage as follows: audit and assurance competencies at the A-level take first priority, followed by A-level competencies in strategy and governance, financial reporting, and finance. All B-level competencies in audit and assurance take second priority, followed by B-level competencies in strategy and governance and financial reporting. B-level competencies in finance take third priority.

In terms of A-level competencies in audit and assurance, this course is designed to develop your knowledge of many of these competencies beyond the A-level. Preparation materials will be posted to LEARN approximately two weeks before each class session. The materials provide guidance on how the class session will be organized, the topics covered, the CPA Competency Map coverage, the CPA Handbook sections covered (required reading), any assigned articles (required reading), a list of the cases to be discussed in class (students are required to work on the cases before class), and instructions for the teams(s) that will be presenting that day.

Course

Grades Final grades in this course will likely be determined in the following manner:

Learning Assessment Course Grade Weight

(Subject to Change)

Participation and Professional Behaviour 10%

Midterm Exam 30%

Team Assignment 20%

Team Presentation 10%

Final Exam 30%

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ACC 685

Performance Management

CPA-Elective

Faculty: Alan Webb, PhD, FCPA , FCA Term Offered: Winter

This course is intended for individuals interested in developing capabilities relevant for careers in performance management and control.

This course will provide in-depth coverage of several performance management and control topics, many of which were introduced in AFM 102, 280 and 482. The topics include: governance, social responsibility reporting, strategy development and implementation, performance

measurement and analysis, transfer pricing, relative performance evaluation, goal-setting, and compensation and incentives. These topics are of

considerable interest to managers in practice and are relevant to anyone considering a career in performance management. The course will also cover numerous theories of human behavior and motivation (e.g., goal theory, agency theory, equity theory, expectancy theory, etc.).

2016 CPA Competency Map

This course covers several competencies under Strategy and Governance:

Governance (2.1), Mission, Vison, Values and Mandate (2.2), Strategy Development (2.3), Strategy Implementation (2.4); and Management

Accounting: Organizational Performance Measurement (3.6), Individual

Performance Measurement (3.7). Moreover, the use of cases and group

projects to illustrate and reinforce key concepts will facilitate development of some of the key CPA Enabling Competencies: Problem-Solving and

Decision-Making (2), Communication (3), and Teamwork and Leadership

(5). Course

Materials

No textbook. Readings will include cases, background articles, and research articles. These readings will either be posted to the course website or will be available in the form of a course readings package purchased (approx. $40) online.

Course Grades Final Grades in the course will likely be determined in the following manner:

Class participation 25% Individual assignments 10% Mid-term exams (I & II) 50% Group case analysis 15%

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ACC 690

Corporate Financial Management

Cases and Applications

CPA-Elective

Faculty: Frank Hayes Term Offered: Winter 2016 Career

Relevance

This course is designed for students seeking careers within corporate finance divisions in large corporations, consulting firms, and in equity analysis and investment roles in the financial services sector.

The objectives are to fully develop your ability to make decisions facing financial managers and investors based on application of corporate finance theory, and to develop your communication capabilities so you can present your analysis and conclusions in a compelling fashion.

The course focuses on the Finance competency area of the CPA

Competency Map and additional advanced competencies on a case-by-case basis. You will also have the opportunity to further develop enabling competencies, including problem-solving and decision-making capabilities and communication skills.

The ACC 690 Course Package available at the University bookstore includes cases and articles to be used in the course.

The classes encompass both lectures and related group case analysis and discussion. Each case team will be responsible for one class presentation and one case written analysis. There is no mid-term in the course.

The course material provides a practical, in-depth application of corporate finance competencies for decision-making purposes, including analysis of financing sources and financing plans, cash flow and working capital management, investment management and financial risk management including derivatives, capital budgeting decisions, and valuation of businesses and intangible assets.

Course grades will likely be determined in the following manner:

Grade Component Weight

Individual Class Engagement

Individual 2 Page Case Synopses (6)

10% 15%

Group Written Case Report 15%

Group Written Case Presentation 20%

Final Exam 40%

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ACC 605

International Tax in a Canadian Context

MAcc-Elective

Faculty: Courtney Benvenuti Term Offered: Spring

The course is designed to provide students with a foundation in the basics of international tax law in Canada. The course is of most interest to students interested in a specialization in Taxation and a necessity to those planning to specialize in International Tax. It would also be relevant to students who will not specialize in tax but want to understand the tax implications of international transactions.

The course reviews the Canadian income tax implications of individual and corporate transactions that have a foreign element. It also examines the role of tax treaties in international tax planning with particular emphasis on the

Canada-US Income Tax Convention. These objectives are accomplished by

applying the statutory provisions to practical problems and cases. Relevance for

Professional Designation Accreditation

Most of the technical material covered in the course is beyond the expectations set out in the CPA competency map. However, the course does include some review of basic tax principles including residency, interest deductibility and shareholder loans that may augment a student’s CFE preparation.

Required texts:

1. Problem Set Package (posted in Learn)

2. Textbook: International Taxation in Canada (Arthur Cockfield, Scott Wilkie and Jinyan Li).

3. The Canadian Income Tax Act. Anticipated

Workload and Course Grades

Advance Preparation 20%

Assignment (Tax Case) 25%

Assignment (Seminar/Submission) 25%

Final Exam (Take Home) 30%

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ACC 606

Business Valuations

MAcc-Elective

Faculty: Professor Dave Vert CPA, CA, CBV Term Offered: Spring

Some say a company is worth exactly what another person is willing to pay. Or is it? How about the value of the assets? Or profit? Is it the potential of the business? Or goodwill? Is it all or some of it? How do you arrive at that magic number? More importantly, who can provide that assessment? An accountant? A lawyer? A relative who just sold their business? The Chartered Business Valuator (CBV) is the pre-eminent designation for Canadian business valuation experts. More information on the CBV designation is available from the Canadian Institute of Chartered Business Valuators’ (CICBV) website at www.cicbv.ca.

This course is intended to provide students with the educational equivalent of the CICBV’s Programme of Studies’ Introductory (Level I) and Intermediate (Level II) Business Valuation courses. Topics to be covered include role of the valuator, principles of valuation, valuation approaches and techniques, risk and growth considerations, determining rates of return, goodwill, minority and controlling interests, CICBV professional standards, etc.

CBV

Students completing this course are eligible for advanced standing in the CBV Programme of Studies for a period of 2 years following MAcc graduation. This advanced standing includes an exemption from completing the CICBV's

Introductory Business Valuation (Level I) course and only having to challenge the CICBV's final exam for Intermediate Business Valuation (Level II) in order to proceed through the remainder of the CICBV's Programme. CICBV course examinations take place in March and September of each year.

CPA

The material covered in this course goes well beyond the expectations of CPA candidates and is not geared specifically towards preparation for the CPA's Common Final Exam.

With regard to the CPA Competency Map, the concepts covered in this course have some relevance to the CPA Technical Competency areas. Specifically, there is a high degree of relevance under the Finance competency area with some modest integration with both the Financial Reporting and Taxation competency areas.

Also, students will have the opportunity to further develop some of the skills set out in the CPA Enabling Competencies in the latter half of the course where both the in-class case problems and the final examination will have an increased emphasis on how valuation practitioners apply and communicate their knowledge in

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ACC 606

Business Valuations

Required text:

1. Canada Valuation Service (Student Edition, 2014), Campbell, I., Carswell Publishers – ISBN 9780779851195 – cost $156.00.

2. Materials package: Readings and cases from the CICBV’s course material for Introductory and Intermediate Business Valuation. Students registered in this course will be required to submit a course materials payment during the first week of the term to the CICBV in the amount of $169.50 (includes $19.50 HST). Anticipated

Workload and Course Grades

The course material is divided into a series of weekly modules. Before coming to each class students will be expected to have completed the assigned readings and assigned problems for the corresponding module. Lectures and class discussions will focus on the application of the concepts in the assigned readings to the assigned problems.

Final Grades in the course will likely be determined in the following manner:

Class Preparation 10%

Midterm Exam - Introductory Business Valuation 45%

Final Exam - Intermediate Business Valuation 45%

Total 100%

Tentative Course Outline

FOR REFERENCE ONLY & SUBJECT TO CHANGES

Week Concepts Reviewed

1 Introduction to Business and Securities Valuations 2 Valuation Engagements & Asset-Based Approaches 3 Return Based Approaches – Part 1

4 Return Based Approaches – Part 2

5 Capitalization & Discount Rates / Levered & Unlevered Approaches

6 MID-TERM EXAMINATION

7 CICBV's Practice & Reporting Standards 8 Valuation Approaches – Going Deeper

9 Cost of Capital / Comparable Company Multiples 10 En Bloc Value and Goodwill

11 Discounts and Premiums 12 FINAL EXAMINATION

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ACC 609

Financial Statement Analysis

MAcc-Elective

Faculty: Shari Mann, CPA, CA, Lecturer Term: Spring

Career Relevance Financial statement analysis is an essential skill for firm valuation in a variety of occupations including investment management, corporate finance, commercial lending, and extension of credit. Since accounting information is used for valuation, both inside and outside the firm, valuation analysis should guide the accountant in providing accounting service. The accounting professional needs to understand how financial statements are used by investors and other stakeholders.

Course Overview and Objectives

This course is intended to improve your ability to analyze financial reports, with an emphasis on equity valuation. We will study accounting principles and their implications on the information presented in financial statements, and learn how to use that information in valuation models. Relevance for

Professional Accreditation

CPA/CFA

The capabilities developed through this course are included in the: - CPA Candidates Competency Map in the Organizational

Effectiveness, Control and Risk Management, Finance, and Performance Measurement competency areas.

- CFA Institute’s Candidate Body of Knowledge within the knowledge required for Financial Reporting and Analysis and Equity

Investments.

- While the course contents are not designed for the CFE or CFA exams, they are relevant as a body of knowledge. Students also have the opportunity to improve skills for problem-solving, decision-making, and communication.

Course Materials Text: To be announced

Course package: Additional reading materials.

ACC 609

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Graded Component Weight (Tentative)

Midterm exam 35%

Team projects 40%

Homework and class contribution 25%

Total 100%

Note: The above is based on the 2015 offering. There may be changes for the 2016 offering.

ACC 609

Financial Statement Analysis

Anti-Requisite Students who have completed AFM 492 are not permitted to enrol in this course. Anticipated Workload, Research Paper Option and Course Grades

Prior to class, students are required to complete assigned readings and homework (prepared summaries of the readings). Face-to-face class time is mainly used for discussing key issues, case-based problem solving, and presenting group work. A great deal of learning takes place when you articulate your views on issues, problems and cases. Thus, class participation is very beneficial and is required.

During the semester, one midterm will be given and there will be a final term project (no final exam). The purpose is to evaluate your

understanding of the covered material. Two team projects (including the final term project) will be given during the semester. You will be asked to present the results of your project in class.

Final Grades in the course will likely be determined in the following manner:

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ACC 621

Core IT Concepts for Accountants

MAcc-Elective

(All students following the 51CH-CA/PA or 51CH-CPA pathway must take this course.) Faculty: Malik Datardina

Term Offered: Winter

Accountants must deal with technology in a variety of ways. The goal of this course is to demystify IT from a strategic, analytic and risk perspective, so you can take the lead in your future roles as accountants when dealing with IT issues and IT professionals.

This course will look at the following key areas:

• IT Investments: What should you consider when evaluating technology from a business case perspective? We look at the Gartner Hype Cycle and other related concepts around technology innovation

• Big data and analytics: How will big data impact accountants?

• IT Risk and control: How can my information get messed up? What can I do to protect it? Take a risk-based look at controls and what are key controls you should know to be viewed as a leader in the field. Relevance for

CPA

This course covers material that is relevant for practitioners in both public practice and industry. Many of the concepts covered in this course will assist students in dealing with the types of IT issues commonly found on CPA exams.

CISA, CA*IT, CIA

The material in this course is part of the foundation coverage for other professional certifications such as the CISA, CA*IT and CIA.

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ACC 621

Core IT Concepts for Accountants

Required Text:

TBD

All other materials supplied on course web-site.

Workload (Subject to Change) Evaluation

Class contribution in weekly class lecture and/or case discussion/workshop.

10-20%

Midterm 20%

Group assignments/presentation 30-40%

Individual final report/exam 30%

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ACC 622

Electronic Commerce

MAcc-Elective

Faculty: Professor Efrim Boritz Term Offered: Winter

E-business is a prominent feature of today’s economy. Even traditional businesses have or need e-business capabilities. This course provides an overview of the essential features of an e-business and integrates e-business concepts with key topics covered in other business and accounting,

auditing, tax and law courses. Course

Overview and Objectives

This course will address the features and related implementation issues of electronic business systems, including:

 Business Models, Value Propositions and Strategies (including the Internet, regulatory issues and small business issues)

 E-Business Architecture (including web site design, order

processing, payment processing, integration with enterprise systems and issues arising from mobile devices, social networks and cloud computing)

 E-Business Applications (including supply chain management, customer relationship management and business intelligence)  Conducting E-Business (including e-marketing and advertising, and

performance measurement) Relevance for

The e-business issues covered in this course relate not only to IT Competencies but to several other Competency areas such as Enabling Competencies, Strategy and Governance, Management Accounting, Planning and Control, Audit and Assurance and Taxation. Thus, there is a significant integrative component to this course which is implemented through weekly readings and case discussions and course projects.

Also, due to the pervasiveness of e-business activities, examinations often involve e-business/e-commerce scenarios. The material covered in this course addresses the types of e-business and e-commerce issues and

problems that commonly arise in examinations, although the coverage in the course does not specifically address final examination issues and goes well beyond the minimum expectations of CPA candidates.

Required Text:

E-business – A Canadian Perspective for a Networked World, 4th edition, 2013, Gerald Trites and J. Efrim Boritz, Pearson

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ACC 622

Electronic Commerce

Anticipated Workload, and Course Grades

Weekly self-directed online review quizzes 10%

20% 20% 20% 30%

100%

Participation in weekly class lectures and case discussions

Report (done individually)

Project & presentation (done in groups) Final exam

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ACC 623

Business Technology Law

IT Challenges & Opportunities

MAcc-Elective

Faculty: Professor Darren Charters Term Offered: Spring

Delivery: Self learning with weekly topic intro/recap sessions Career

Relevance

This will be a particularly useful course for anyone contemplating a management career in a technology related sector of the economy or who, in a professional capacity, expects to work with such companies. However, the course still has relevance for those expecting to work in more

traditional/conventional areas of the economy. Course

Overview and Objectives

Businesses operate in an environment proscribed as much by legal principles as by financial rules and performance expectations. The course will show students how legal issues of a technology oriented nature

insinuate themselves into some key management activities, including those of both ‘old’ and ‘new’ economy businesses. It will provide an introduction to technology related legal issues that are relevant to business professionals and an examination of legal issues that create both obligations and

opportunities for business. The course will address:

 The legal environment for product development – focusing on core areas of intellectual property (IP) including patents, copyright, valuation of IP, and basic philosophical underpinnings of IP

 Employee matters in technology focused business environment as well as traditional business confronting technology –

including employees’ rights, privacy, appropriate company policies, etc.

 Ecommerce legal issues – including privacy, consumer protection, electronic marketing, etc.

 Providing products and services to third parties – including contract considerations in software licencing, IP licencing, etc. CFE Relevance Course will provide useful background to information technology

competencies that are integrated throughout the competency map although not directly relevant to CFE.

Required Text:

Courseware Package

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ACC 623

Business Technology Law

IT Challenges & Opportunities

The material will be a combination of regular in-class sessions, as well as additional directed reading, and further learning assignments. After an in-class introduction students typically review one (perhaps two) online information resources, read course material addressing substantive law as well as the business context of the relevant law, and undertake a variety of learning and review tasks that reinforce concepts covered and/or provide for the introduction of related concepts. The weekly in-class sessions- typically about an hour- will be used to introduce the module being studied, recap the module just completed, and provide some substantive content in relation to each. It is expected that a couple of the sessions will involve invited

speakers with a professional background in one of more areas of law addressed in the course.

Workload Evaluation

Quizzes (self-assessment) 10%

Individual Research Summaries 25%

Bulletin Board 15%

Open Ended Questions 20%

Final Case or Paper 30%

Total 100%

Evaluation will involve a combination of self-study exercises and individual assignments. Although in-class time is typically shorter than the standard weekly 3 hours, the course is designed for a greater amount of time to be spent on self-learning exercises- which students will have some flexibility to choose from and structure their time accordingly. Conversely, note that just because there is less in-class time and more flexibility on when you do the course work, do not expect it to be less work than a typical lecture/class based course. The course is designed to approximate the work load of a regular course- it is just done differently. This is intended to provide general information on the nature and type of evaluation used in this course and is subject to some change.

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ACC 652 Forensic Accounting

MAcc-Elective

Faculty: Professor Linda Robinson Term Offered: Winter

This course is particularly relevant if you want to sharpen your skills for detecting financial fraud or corruption for your clients or employer. If you are planning a career in audit, either internal or external, or plan to run your own business this course will heighten your understanding of fraud risk factors that will assist with your assessment of the organization’s susceptibility to fraud. This course is also relevant to you if you are considering a career as a Forensic Accountant. You will learn how to conduct an investigation, how to gather evidence, and how to pursue areas of recovery.

The purpose of this course is to expand on your understanding of fraud and fraud related topics which you learned in previous auditing courses. This introductory course in forensic accounting will cover a variety of topics including:

 Nature and types of fraud  Who commits fraud and why  Red flags you should be aware of

 Types of financial statement manipulation  Fraud detection

 Illegal Acts

 Money Laundering  Computer forensics  Interviewing techniques

In addition to the topics above, the class will discuss financial fraud cases that occurred in Canada, the US, and around the world over the past ten years. Discussions will center on how the fraud happened and what could have been done to prevent, detect, and deter the fraud.

Situations involving financial statement fraud concepts have arisen on past professional exams. However, the material covered in this course goes well beyond the expectations of CPA candidates and is not geared specifically towards the CPA examination.

With regard to the CPA Competency Map, the concepts covered in this course have relevance to many of the Assurance competency area. Issues related to the Financial Reporting and Management Accounting competency areas will also be addressed as it relates to evaluation of information.

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Anticipated Workload, and Course Grades

Students should plan to attend all lectures as a significant portion of the material covered is done so only through class discussions.

For each class cases will be assigned for in class discussion. Some other these cases will be interactive and include role playing.

Graded Component Evaluation

Class contribution & quizzes 25%

Research Paper – a F/S fraud (group) 25%

Presentation (group) 5%

Group project – investigation 20%

Final Exam 25%

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ACC 662

Tax Policy

MAcc-Elective

Faculty: Professor Alan Macnaughton Term Offered: Spring

Many accountants know lots of tax rules but don’t fully understand them because they don’t know the government’s purpose for each rule. The study of the tax policy goals behind the rules provides that purpose. This is useful in several ways.

1. Understanding that purpose will make it easier to learn the rules because it provides a structure and meaning. Learning and practicing tax becomes more fun.

2. Loopholes and tax planning opportunities will be more obvious to you, as these are often the rules that seem to contradict the general purpose of the provision.

3. Tax practitioners are in a good position to contribute to tax policy, either for personal interest or because clients seek help in fixing rules that adversely affect them.

4. Clients won’t think of you as an expert if you can’t answer their questions about the purpose of the rules.

The objective is to develop students’ ability to analyze current tax law and propose alternatives which will better meet tax policy goals. Tax policy goals include fairness across similarly-situated taxpayers, redistributing income from rich to poor, avoiding interference with business and personal decisions, and avoiding excessive record-keeping. We will compare the common strategy of assessing taxes according to ability to pay to the concept of directly charging individuals and corporations for the benefits they receive from public services. Each day, we will pick a different area of the tax system in which to study the application of these ideas. We will also discuss how tax policy is made in Ottawa and the process of enacting legislation.

I have 5 years’ experience working for government writing the Income Tax Act and preparing tax policy changes. I have also written many articles on tax policy.

The schedule of classes is: Class 1: Tax policy process

Class 2: History of Canadian tax; taxes in Canada vs the rest of the world Class 3: Tax policy goals

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Class 5: Corporate tax: proposals for reform

Class 6: Taxation on individual vs family basis; top marginal tax rates Class 7: Policy issues with medical and charitable tax credits

Class 8: Capital gains; income averaging; transitional rules Class 9: Tax avoidance and tax evasion

Class 10: Eliminating red tape: tax administration and compliance costs Class 11: Retirement savings

Class 12: Review

Limited. This course will develop your higher-level skills of reasoning about tax issues through in-class discussion about their purpose. A lot of emphasis is also placed on writing skills.

Text: I will provide a package of course notes, including many newspaper articles, Canadian Tax Journal papers, and articles from law and tax journals from around the world.

Final Grades in the course will be determined in the following manner.

Workload Evaluation Major essay 50% Library assignment 5% Final exam 35% Participation 10% Total 100%

Master of Accounting. Program