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AFM 391Intermediate Financial Accounting 2

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 3 of the last 7 terms. Winter 2027: not on the schedule. Spring 2027: schedule not out yet.

This is an intermediate financial accounting course that deals with problems related to the measurement of liabilities, measurement of income, and the reporting and measuring of corporate equities.

Prerequisites

Antirequisites

None listed.

Leads to

Reviewed on UW Flow

58% liked it29% easy94% useful

From 74 ratings and 12 comments on UW Flow. The most helpful comments, quoted as written, without names. Read them all on UW Flow.

  • Exams were much easier this semester than in the past (prof said last semester's midterm had a 60 average, ours was 75). Overall the class was not difficult at all, content was light for a 91 course and all you need to do is get a decent grip of the practice questions. However, I'm not sure if it's going to be this easy in the future or if this was a one-off due to the professors we had.

    Aug 2025 · didn’t like itOn UW FlowRemove this

  • Content from weeks 7-12 is not easy. Do the homework and practice problems. On exams, make sure you understand what to write for the qualitative portion of the case analysis, myself and my classmates all got 20-40% maximum on that portion of the midterm (and it was worth 10% of the total test marks). Other than that, PRACTICE PROBLEMS SAVE LIVES.

    Jul 2025 · didn’t like itOn UW FlowRemove this

  • (Taught by Muhammad Azim)
    One of the hardest courses in 3rd year, stop complaining and do as many practice problems as you can (textbook & slides), and be sure to really understand all stuff. A large amount of content every week so always stay on top. Also be familiar with in-class case analysis structures for memo writing, and know what to write in qualitative & quantitative analysis sections.

    Jun 2025 · liked itOn UW FlowRemove this

  • course is alright, not very easy, dont take it lightly.

    Jun 2023 · liked itOn UW FlowRemove this

  • Very useful but need to put in enough work and time to do well.

    May 2023 · liked itOn UW FlowRemove this

Discussed on r/uwaterloo

37 posts and comments in 36 threads mention AFM 391, August 2015 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.

Fall 2024

AFM 3A Difficulty 6 points, 3 comments

“Hey guys i'm going into 3A in a couple days and i was wondering if any upper years had any tips to do well and what courses to watch out for? Thanks”

u/CoolFun11: “… The 3B term was more difficult than 3A for me, though, and I especially had difficulties with AFM 391 (which is a continuation of 291) & AFM 362. …”

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Spring 2024

Winter 2024

Spring 2023

AFM 391 1 point, 0 comments

u/Outside_Sand_4609: “Are we going to have to just go off of the textbook content without any videos this term? Does anyone know where to watch any videos pertaining to this content?”

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Spring 2022

FARM vs MATH/CPA 2 points, 7 comments

“Hey everyone, &x200B; I have been fortunate enough to be accepted into both FARM and Math/CPA and have been very grateful for it:) Nevertheless, I am VERY struggling to choose between these two and …”

u/AFMISFULLOFNOOBS: “… Managers (or COMM 231) AFM 341 Accounting Information Systems AFM 362 Corporate Taxation AFM 382 Cost Management Systems AFM 391 Intermediate Financial Accounting 2 AFM 433 Business Strategy AFM 451 Audit Strategy AFM 462 Special Topics in Taxation AFM 482 Performance …”

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Check it elsewhere for Fall 2026

Calendar versions

Undergraduate Calendar