UNIVERSITY OF WATERLOO 
AFM 102: Introduction to Managerial Accounting 
Comprehensive Revision Guide and Notes 2026 
 
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AFM 101, AFM 272, AFM 391, ECON 101, ECON 102, and ECON 221

University of Waterloo - AFM 102: Introduction to Managerial Accounting

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ACADEMIC YEAR 2025 - 2026

University	University of Waterloo
Course Code	AFM 102
Course Name	Introduction to Managerial Accounting
Notes Title	Comprehensive Revision Guide and Notes
Page Length	119

If you are studying for AFM 102: Introduction to Managerial Accounting at the University of Waterloo, this comprehensive guide and practice test set is a must-have. You don't need to be an expert in the course; you just need a basic understanding, and the ability to quickly recall the information you learn. You can use these notes as a reference to understand the topics better and improve your grades in the final exam. This updated exam preparation guide helps you identify your weak areas so you can pass the final exam on your first attempt.

AFM 102: Introduction to Managerial Accounting provides an introduction to the purpose, nature, and scope of management accounting. By the end of the course, students will be able to develop and interpret fundamental management accounting skills. Key topics include cost terms and behavior (such as cost concepts, cost behaviour analysis, and cost-volume-profit relationships), costing systems (including job-order costing, process costing, activity-based costing, and variable costing), planning and control (with topics like budgeting, standard costs and overhead analysis, and reporting for control), and decision making (covering relevant costs for decision making and capital budgeting decisions).

Prerequisites include completing at least one of AFM 101, AFM 191, BUS127W, or BUS227W.

Antirequisites include AFM 123, AFM 182, ARBUS 102, BUS247W, and MSCI 262, which cannot be taken concurrently or previously completed.

COURSE CODE	COURSE NAME
AFM 101	Introduction to Financial Accounting
AFM 102	Introduction to Managerial Accounting
AFM 231	Business Law
AFM 272	Global Capital Markets and Financial Analytics
AFM 273	Financial Instruments and Capital Markets
AFM 274	Introduction to Corporate Finance
AFM 275	Corporate Finance
AFM 280	Introduction to Organizational Behaviour
AFM 291	Intermediate Financial Accounting 1
AFM 322	Derivative Securities
AFM 391	Intermediate Financial Accounting 2
ECON 101	Introduction to Microeconomics
ECON 102	Introduction to Macroeconomics
ECON 201	Microeconomic Theory for Business and Policy
ECON 221	Statistics for Economists
ECON 290	Models of Choice in Competitive Markets
ECON 322	Econometric Analysis 1
ECON 323	Econometric Analysis 2
ECON 371	Business Finance 1
ECON 372	Business Finance 2
ECON 423	Time Series Econometrics
MGMT 244	Principles of Marketing
PSYCH 292	Basic Data Analysis
STAT 202	Introductory Statistics for Scientists
STAT 443	Forecasting

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Updated for 2026

University of Waterloo - AFM 102: Introduction to Managerial Accounting

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