AFM 491Advanced Financial Accounting
- Units
- 0.50
- Faculty
- Arts
When it runs
- F24
- W25
- S25
- F25
- W26
- S26
- F26
- W27
- S27
Ran in 3 of the last 7 terms. Winter 2027: not on the schedule. Spring 2027: schedule not out yet.
An advanced accounting course considering specific problems of accounting for the corporate entity, such as business combinations, intercorporate investments, consolidated financial statements, accounting for foreign operations and foreign currency transactions, and segment reporting.
Prerequisites
- Complete all of the following
- Must have completed the following:
- AFM391 - Intermediate Financial Accounting 2 (0.50)
- Complete 1 of the following
- Enrolled in H-Accounting & Financial Management, H-Computing & Financial Management, H-Mathematics/Chartered Professional Accountancy, H-Science & Financial Management, or H-Sustainability & Financial Management
- Enrolled in H-Biotechnology/Chartered Professional Accountancy
- Must have completed the following:
Antirequisites
None listed.
Leads to
Fall 2026 sections
| Section | Class | Enrolled | Meets |
|---|---|---|---|
| LEC 001 | 3222 | 60 / 60 | TTh 08:30–09:50 |
| LEC 002 | 3970 | 60 / 60 | TTh 10:00–11:20 |
| LEC 003 | 3971 | 60 / 60 | TTh 13:00–14:20 |
| LEC 004 | 3972 | 36 / 60 | TTh 11:30–12:50 |
| LEC 005 | 3973 | 60 / 60 | TTh 13:00–14:20 |
| TST 101 | 3507 | 276 / 300 | Oct 2 16:30–18:00 Nov 6 16:30–18:00 |
Reviewed on UW Flow
58% liked it13% easy97% useful
From 43 ratings and 11 comments on UW Flow. The most helpful comments, quoted as written, without names. Read them all on UW Flow.
This course is the hardest course in AFM, no doubt. It has a lot of work, with very difficult content. For chapter 12 (NFPO) is alright, and for the first few consol chapters (3, 4, 5) are still manageable. Then the world ended when you start going to intercompany transactions (6+7), each chapter is like 5 chapters in AFM101. Then by chapter 8 with the change in ownership, it's just impossible. We were praying that block purchases wouldn't be on. Then by chapter 9, 10, 11 it became manageable again, provided that you work hard. Everything in this course is difficult and if you lag behind, you will have a very hard time catching up. Textbook is useful to a certain extent, but very dry and…
Dec 2016 · didn’t like it · 2 found this helpfulOn UW FlowRemove this
Do the recommended questions several times as well as any past assessments if you can get your hands on them.
Dec 2012 · didn’t like it · 1 found this helpfulOn UW FlowRemove this
Do the readings/questions.
Oct 2012 · 1 found this helpfulOn UW FlowRemove this
Come to class prepared!
Oct 2012 · liked it · 1 found this helpfulOn UW FlowRemove this
AFM 491 is a very challenging course. Make sure go prepared to every lecture. It's extremely easy to fall behind.
Sep 2012 · didn’t like it · 1 found this helpfulOn UW FlowRemove this
Discussed on r/uwaterloo
47 posts and comments in 39 threads mention AFM 491, 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.
Fall 2024
AFM 4b courses 2 points, 5 comments
u/Live-Orchid-4180: “What is the course average for AFM 491 and AFM 462? Is it easy to do get a decent grade in 4b? Is course average of these courses higher than AFM 391 and 362?”
Spring 2024
afm 4B average 3 points, 5 comments
u/Historical-Title-503: “Hi, does anyone know the average for the challenging courses like afm 491 and afm462? even afm482 for 4B term? i am genuinely concerned about my last term to get it into the Macc program lol. or any tips for these three coureses?”
u/TeemoG0d69: “AFM 491 is a high 70s to low 80s average with Seda. She reuses practice problems on her exams and they are pretty predictable. With any other prof like Ducharme, Shari Mann, etc the average will probably be in the mid 70s. This course is tough as it covers a lot of content. …”
Winter 2023
Upper year AFM offering advice 13 points, 13 comments
“I'm an upper year AFM student who will be graduating soon. I remember over the years how helpful it was to receive insight and guidance from older students. …”
u/Icy-Tea9363: “Hi, what do you think taking AFM 491 during Co-op term? I'm thinking if I should take it in the coming term (Mag to Aug). Any idea or comment will be appreciated!”
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: “… Control AFM 491 Advanced Financial Accounting ECON 100 Principles of Econ. …”
Spring 2021
AFM 291 CPA fail 3 points, 3 comments
“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? …”
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.”
Fall 2020
Good prof appreciation thread 61 points, 89 comments
“This term sucks a lot and a lot of people are having some shitty experiences, especially with certain profs/TAs/instructors. But there’s a lot of profs who are not that shitty. …”
u/100AdelaideToronto: “Seda oz afm 491. Threw chocolate at me in class and hugged me really tight on the last day of classes. She genuinely cared about me and all her students”
Retake AFM 291 2 points, 11 comments
“Hi, I'm a fourth year Math/CPA student. Unfortunately, my grade for AFM 291 was 58% after second try. As I'm entering my 4B term, I want to know what options I have in order to get a grade above 60% …”
[deleted]: [deleted]
u/RMfollower: “… Because I'm gonna take AFM 491 this term, so the only choice for me is to take 291 next Spring or take that course at another school in Winter. …”
u/pwcunt: “I don't think 291 is a basket course for the MAcc application, is it possible for you to apply UW Macc? …”
u/RMfollower: “… I still need to take AFM 341, 351, 401, 462, 479, 482, 491, and I will take 401, 462, 479, 482 and 491 this term. So I think my cumulative GPA might be at least 75% after this term. Why the MAccFin is not that good? …”
Spring 2020
Has anyone taken AFM291 at Athabasca and is it possible to do so? 0 points, 10 comments
u/mattimfm: “If you’re planning on getting your CPA then AFM 291, 391 and 491 all need to be taken at the same university for the credits to count.”
AFM 491 Final Grade 8 points, 0 comments
u/No_Jackfruit6316: “Anyone know if the final mark is with or without curve since they didn't give us our case or test 5 mark”
AFM 491 crying thread 6 points, 3 comments
Comprehensive Guide to AFM based on my experiences 70 points, 26 comments
u/suh-dude_: “… AFM 491 - Advanced Accounting: One of the hardest courses in undergrad. It is essentially all about consolidation and foreign exchange. Go to class, do the work, as questions. No other way around it. …”
Winter 2020
Afm 491 3 points, 9 comments
Check it elsewhere for Fall 2026
- Undergraduate Calendar, 2026–27The official entry
- Requirements for Fall 2026Waterloo’s requisite checker
- Schedule of Classes, Fall 2026Instructors, rooms, live seats
- Quest Class SearchWhere you enrol
- Course outlinesSyllabi from past terms (UW login)
- UW FlowStudent ratings and reviews
- WClassesPast sections back to 2004, and who taught them