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School of Continuing Studies | University of Toronto

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.

More information: Earn the ACAF

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.

CPA Ontario has recognized the following courses offered by the School of Continuing Studies towards exemptions from the ACAF entry, technical and applied courses:

ACAF Entry Courses  School of Continuing Studies ACAF Approved Courses
IntroFA Introductory Financial Accounting SCS 0984 Accounting: The Fundamentals
IntroMA Introductory Management Accounting SCS 0983 Management Accounting
IFR1 Intermediate Financial Reporting I** SCS 3404 Intermediate Financial Accounting 1
IFR2 Intermediate Financial Reporting II** SCS 3405 Intermediate Financial Accounting 2
Law Business Law SCS 0973 Business Law


ACAF Technical Courses School of Continuing Studies ACAF Approved Courses
AFR Advanced Financial Accounting** SCS 0914 Advanced Financial Accounting
Finance Corporate Finance* SCS 0976 Financial Management
Assurance Audit and Assurance** SCS 2331 External Auditing
Tax Taxation** SCS 0975 Taxation for Canadian Business
IMA Intermediate Management Accounting* SCS 0915 Advanced Management Accounting
IT Information Technology* SCS 1209 Management Information Systems


ACAF Applied Courses School of Continuing Studies ACAF Approved Courses
INT Ethics and Workplace Skills** SCS 3415 Business Ethics
EEA Applied External Audit** SCS 3412 Applied External Auditing
EPT Applied Personal and Corporate Taxation** SCS 3414 Applied Personal and Corporate Taxation
EPS Public Sector Financial Management Practice** SCS 3418 Public Sector Financial Management Practice
ENP Not-for-Profit Accounting and Related Topics** SCS 3413 Not-For-Profit Accounting and Related Topics
APP Business Applications** SCS 3417 Professional Application of Business Concepts
PAS Accounting Software Application Complete directly through Sage University

A minimum grade of 60 per cent is required in the courses denoted with an asterisk (*) and a passing grade in all other courses. Courses denoted with two asterisks (**) are subject to both the 60 per cent minimum grade requirement noted above as well as the ten-year course currency of education policy.


Updated: January 2018
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.