Obtain a Advanced Certificate in Accounting & Finance (ACAF)
Earn the Advanced Certificate in Accounting & Finance (ACAF)
The Advanced Certificate in Accounting and Finance (ACAF) is an online education program developed by Chartered Professional Accountants of Canada (CPA Canada) for those aspiring to careers in accounting and finance, but not as qualified CPAs. The program consists of eleven courses: six technical courses and five applied courses.
CPA Ontario has recognized the following courses offered by the School of Continuing Studies towards exemptions from the ACAF entry and technical courses:
|ACAF Entry Courses||School of Continuing Studies ACAF Approved Courses|
|Intro FA||Introductory Financial Accounting||0984: Accounting: The Fundamentals|
|IntroMA||Introductory Management Accounting||0983: Management Accounting|
|IFR1*||Intermediate Financial Reporting I*||0982: Intermediate Financial Accounting and Analysis|
|IFR2*||Intermediate Financial Reporting II*||0982: Intermediate Financial Accounting and Analysis|
|Law||Business Law||0973: Business Law|
|ACAF Technical Courses||School of Continuing Studies ACAF Approved Courses|
|AFR||Advanced Financial Accounting*||0914: Advanced Financial Accounting|
|Finance||Corporate Finance*||0976: Financial Management|
|Assurance||Audit & Assurance*||2331: External Auditing|
|Tax||Taxation||0975: Taxation for Canadian Business|
|IMA||Intermediate Management Accounting*||0915: Advanced Management Accounting|
|IT||Information Technology||1209: Management Information Systems|
* A minimum grade of 60% is required and a passing grade in all other courses. Courses must be completed within the ten years prior to enrolment into the ACAF Applied Course, Ethics and Workplace Skills, unless otherwise approved through relevant practical experience.
ACAF Program Requirements
Individuals interested in earning the ACAF are advised to submit transcript(s) to CPA Ontario for assessment. CPA Ontario will confirm your eligibility for the ACAF program and provide the best advice for achieving any missing prerequisites.
The minimum entry requirement into the ACAF program with CPA Ontario is 30 credit hours (or equivalent one year of full-time study) at a post-secondary institution or three years of relevant work experience. All entry courses and technical courses must be successfully completed before enrolling in any applied courses.
|ACAF Applied Courses|
|Ethics and Workplace Skills|
|Accounting Software Applications|
|And the choice of two electives:
· Applied External Audit
· Applied Personal & Corporate Taxation
· Not-for-profit Accounting
· Public Sector Accounting
ACAF applied courses are currently offered exclusively by CPA Ontario in an online format with examinations taking place in person in the Greater Toronto Area, Ottawa and London with the exception of Business Applications which has an online examination. There are no exemptions from the applied courses.
Updated: March 2017
The Association may offer designations in addition to the one(s) identified. The University of Toronto School of Continuing Studies is committed to providing current and accurate information about the requirements of the Association leading to the designation(s) identified. Given that everyone has a unique combination of education and professional experience, contact the Association directly to confirm your pathway to the designation.