uwloo

AFM 291Intermediate Financial Accounting 1

Units
0.50
Faculty
Arts
Subject
Accounting and Financial Management

When it runs

  1. F24
  2. W25
  3. S25
  4. F25
  5. W26
  6. S26
  7. F26
  8. W27
  9. S27

Ran in 5 of the last 7 terms. Winter 2027: not on the schedule. Spring 2027: schedule not out yet.

A first course in intermediate accounting dealing with the theory and practice of financial statement preparation and reporting. The emphasis will be on asset valuation and the related impact on income measurement.

Prerequisites

Antirequisites

None listed.

Leads to

Fall 2026 sections

Enrolment from UW Open Data, which can trail Quest by up to two days. Instructors and rooms: Schedule of Classes.
SectionClassEnrolledMeets
LEC 001323647 / 100MW 13:00–14:20
TST 101400547 / 100Oct 29 18:30–19:50

Reviewed on UW Flow

56% liked it35% easy94% useful

From 135 ratings and 31 comments on UW Flow. The most helpful comments, quoted as written, without names. Read them all on UW Flow.

  • Useful course with content that wasn't too difficult. Exams were pretty hard tho but with lots of practice you can do well in the course.

    Dec 2016 · liked it · 1 found this helpfulOn UW FlowRemove this

  • Useful course, difficult memo questions on midterms.

    Dec 2016 · didn’t like it · 1 found this helpfulOn UW FlowRemove this

  • Many gave me expectations that this course would be a demon course when really it was not at all. Through the first midterm was disappointing, it was really just getting used to the content and style of the exam. If you truly pay enough attention, focus during the PBL's, and practice using the guidance, you will find this course to be a lot easier than what many make it out to be. I know some students still feel that way about this course but both Professor Donna and Professor Rob are there to keep you in check and make sure you are succeeding, you just need to engage yourself more in the class.

    Aug 2026 · liked itOn UW FlowRemove this

  • Not as difficult as the rumors suggest

    Jul 2026 · liked itOn UW FlowRemove this

  • A lot of content, so keep up and re-do pbls regularly

    Sep 2025 · didn’t like itOn UW FlowRemove this

Discussed on r/uwaterloo

219 posts and comments in 171 threads mention AFM 291, December 2011 to December 2024. Quoted word for word, newest first; each reply sits under the post and the comment that started its branch. Search r/uwaterloo for newer posts.

Spring 2024

AFM 291 4 points, 1 comment

u/Time-General-6302: “Hey, I just got my AFM 291 mark back and I got a 58% :(. Is there any way to get that bumped to a 60% since that is the grade requirement for core courses in AFM. Can I petition it or do anything so that I don't need to retake it. Any advice??”

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AFM 291 Final Advice from 3rd years and above 9 points, 0 comments

u/Foreverevil316: “Need to clutch up this 291 final, gotta make sure my grades are fulfilling the MAcc requirements. Had some questions from upper years or anyone studying for this exam: - How difficult was the final compared to the midterm in previous years? …”

u/OccasionalRedditor7: “In my year, AFM291 was a fall course and the first 2 midterms were killers to try to remove students that weren't going to likely work out in the program. The final was extremely easy as the 2 midterm averages were 50s and 60s. …”

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AFM 291 Final 6 points, 4 comments

u/Cheap-Ad-3056: “I was wondering if anyone knew if we had to construct any other financial statements besides cash flow for the final? In our PBLs I know we were asked to construct a balance sheet for week 4 so I am not sure how much time I should spend focusing on that.”

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AFM 291 CPA fail 3 points, 3 comments

u/CasualHearthstone: “We need a 60 to cpa pass but I only got a 58. Is it possible to beg for marks to raise it to 60? What are my next steps? I have to retake the course, but should it be through uwaterloo? Somewhere else?”

u/BlackGhost7373: “i think if you take it through another school you have to do afm391 and afm491 at the same school as well (not sure why). if you are aiming for MAcc you might as well retake it next year in 3B.”

u/Effective_Tap8002: “Hey do u know which school is offering AFM 291?”

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AFM 291 Midterm 2 6 points, 1 comment

u/Foreverevil316: “So for AFM 291 this year, they decided to make a 2nd midterm for the first time. Our 1st midterm average was about 58%. Does this mean that the 2nd midterm will likely be easier, since the professors are likely trying to bring up the average? …”

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Check it elsewhere for Fall 2026

Calendar versions

Undergraduate Calendar