The MAcc program offers opportunities for graduate study in two broad areas. The Professionally Accredited Stream (PAS) is a professionally accredited full-time program of studies for students interested in becoming professional accountants. The Finance Stream is a full-time program of studies for students interested in specializing in finance.
The MAcc Professionally Accredited Stream is a cost recovery program and does not receive financial support from the government.
The Professionally Accredited Stream (PAS) is the only accounting program in Ontario that has been fully accredited by the Institute of Chartered Accountants of Ontario as being sufficiently complete to justify special status for its graduates. Graduates are granted exemption from all ICAO education requirements including the School of Accountancy Core-Knowledge Examination and the ICAO School of Accountancy. Successful completion of the PAS permits students to bypass these requirements and proceed directly to write the Uniform Evaluation (UFE).
The PAS is the final phase of an integrated sequence of accounting and related-area studies. Entrance to this stream requires (in addition to regular MAcc admission requirements) successful completion of either a University of Waterloo Accounting Undergraduate degree (Arts, Math or Science) or Accounting and Financial Management Degree.
Successful completion of a University of Waterloo four-year Honours Chartered Accountancy Degree or Accounting and Financial Management Degree, with at least 75% average in the last two years average is required. Note: For those MAcc applicants who entered the University of Waterloo Undergraduate program before 2006, and who do not satisfy the minimum 75% overall average in the last two years of study, but who have a four-year overall average of at least 75%, they shall be deemed to have at least a 75% overall average in the last two years.
In addition to the cumulative 75% average required for admission to MAcc, candidates will normally be required to attain a 75% average in all required AFM courses in their last year of Undergraduate studies.
Students whose first language is not English may be required to provide proof of competency in English. For those taking the Test of English as a Foreign Language (TOEFL), a score of at least 600 (250 on the computerized version), with a score of 5 in the Test of Written English (TWE) and 50 on the Test of Spoken English (TSE)are required. (See Academic Regulations - English Language Proficiency Certification for other acceptable tests of English).
Regulations require residence (full-time enrolment) for a minimum of two terms beyond the Honours Bachelor's degree or Accounting and Financial Management degree for regular full-time students. Each student must meet the general requirements of the Senate as specified in the current Calendar regarding enrolment, continuous enrolment, inactive enrolment, and re-admission.
The PAS program consists of eight approved graduate courses (0.50 unit weight) over two terms. Students choosing to do the Master's Research Paper (0.50 unit weight), will complete seven graduate courses (0.50 unit weight) over two terms.
Applicants who have been admitted without completing an organizational behaviour course or an ethics course will be required to successfully complete that course before graduating from the program.
The availability of particular courses depends on sufficient student demand.
Candidates must obtain an average of at least a 75% in the courses presented in fulfillment of the degree requirements. The records will be reviewed of those whose cumulative average at the end of the first term is below 75% and the candidate may be required to withdraw from the program.