Master’s in Accounting in Canada is a 2-year postgraduate degree program offered to candidates having a bachelor’s in accounting with a minimum aggregate of 65% to 75%. The average cost of pursuing a Masters in Accounting in Canada ranges from CAD 7,800 to 39,600 (INR 4.71 to 23.92 Lakhs) per annum.

After a Master's in Accounting in Canada, an individual can work as an Accountant, Finance Analyst, CFO (Chief Finance Officer), or Senior Account and earn an appreciable amount of annual payout. The top recruiters of the graduates of Masters in Accounting in Canada are PWC, KPMG, Walmart, and Citco. Graduates can fetch an average salary of 74,000 CAD (45.06 lakhs INR) 

Highlights

Courses Available Master of Accounting I Master of Applied Accounting I Master of Accounting and Finance I MA Accounting I MS Accounting
Course Type Full-time, Part-time
Program Duration 2 years
Eligibility Criteria Bachelor’s degree in Accounting with 65% aggregate
English Proficiency Requirements IELTS: 7.5 (6.5 in each band) I TOEFL iBT: 96 to 105 overall
Entrance Exam GRE quant: 155 I GMAT: 600 overall
Annual Tuition Fees 27,150-59,500 CAD (16.54-36.26 lakhs INR)
Annual Salary Range 74,000 CAD (45.06 lakhs INR)

Top Universities for Masters in Accounting in Canada

Some of the top universities offering Masters in Accounting in Canada are listed as follows:

University Program Application Deadline Tuition Fees (CAD)
The University of Toronto Master of Accounting and Finance Round 1: 31 October 2022 (Closed) | Round 2: 31 January 2023 41,550
University of Saskatchewan Master of Professional Accounting Rolling Basis 27,150
University of Alberta Master of Accounting 15 January 2023 25,704
York University, Schulich School of Business Master of Accounting 5 April 2023 59,500
Brock University M.S Accountancy 1 February 2023 30,870
Carleton University Master of Accounting 31 January 2023 34,000

Table of Content

  1. What is Masters in Accounting in Canada?
  2. Masters in Accounting in Canada Specializations and Syllabus
  3. Why Study Masters in Accounting in Canada?
  4. Admissions to Masters in Accounting in Canada
    3.1 Eligibility
    3.2 Additional Requirements
  5. Cost of studying Masters in Accounting in Canada
    4.1 Cost of Living
  6. Scholarships for Masters in Accounting in Canada
  7. Placements after Masters in Accounting in Canada
  8. Masters in Accounting in Canada: ROI
  9. Masters in Accounting in Canada University Comparison
  10. FAQs

What is Masters in Accounting in Canada?

A Masters in Accounting is a graduate-level business degree. It covers fundamental concepts of accounting, and effective methods to use these concepts. It helps students gain the skills and knowledge to pass the CPA exam that is Certified Public Accountant exam. This exam is required to get the licence to officially become a CPA and work in the corporate world. After completing their degree from Canadian universities, students are open to multiple opportunities in big firms, and can even start their own businesses. They also become capable of getting high level position jobs such as COO, CFO or a CEO of a corporation.

Masters in Accounting in Canada Specializations and Syllabus

The following subjects are included in Masters in Accounting in Canada:

  • Case Studies in Accounting
  • Performance Management
  • Advanced Auditing
  • Strategic Tax Planning
  • Finance in Professional
  • Accounting
  • Bargaining and Negotiation
  • Project Management
  • Accounting and Business Strategy

Why Study Masters in Accounting in Canada?

Pursuing a Master in Accounting in Canada is a great option for aspirants of accountancy and financial management. One can find a number of postgraduate study programs in the field of accounting such as Master of Accounting, Master of Applied Accounting, MA Accounting, MS Accounting, and Master of Accounting and Finance. Here are some of the reasons why one should opt for a Master's in Accounting in Canada:-

  • Canada stands among the most popular study abroad destinations along with the USA, UK, Australia, etc.
  • There are 3 universities ranked under the top 500 worldwide institutions, as per the QS World Rankings 2023.
University QS World University Ranking
University of Toronto 34
University of Alberta 110
York University 456
  • Master in Accounting in Canada offers a great return on investment. Candidates can earn an annual income ranging from CAD 39,000 to CAD 241,000 (INR 23.6 Lakhs to INR 1.45 Crore).
  • The employment opportunities for Masters in Accounting in Canada graduates are expected to increase by around 10%.

Masters in Accounting in Canada Admissions

The admission process for Masters in Accounting in Canada commences thrice a year: fall, spring, and winter. The applications vary with the university. Therefore, candidates should check their shortlisted college/university deadlines and prepare to apply accordingly.

Masters in Accounting in Canada: Eligibility Criteria

Checking the eligibility criteria for the shortlisted institution is a good practice prior to applying for a Master in Accounting in Canada. Here are the overall entry requirements for the same:

  • Qualification: The applicants must possess a bachelor’s degree in Accountancy or a relevant stream from a recognized university with a minimum aggregate of 65%.
  • Proof of English Proficiency: International candidates must submit proof of their English proficiency just to ensure they understand the English curriculum of the course.
    • IELTS: Overall score of 6.5 to 7.5
    • TOEFL iBT: 90 to 105
  • Standardised Test Scores: Standardised test scores are often not required if you have completed a bachelor's in Economics but still submitting a GRE score of 305 (160 in Verbal and 155 in Quantitative Reasoning) adds much value to the application. A minimum GMAT score of 600 is also acceptable.

Masters in Accounting in Canada: Admission Requirements

As the entry requirements vary with the institution, here are the university-specific admission requirements for Masters in Accounting in Canada.

University Eligibility Criteria Additional Requirements
University of Alberta 4-year undergraduate degree with a GPA of 3.0 out of 4.0 IELTS: 6.5 (with at least 6.0 in each band) | TOEFL: 90 | Minimum overall aggregate of 80%
The University of Toronto 4-year undergraduate degree from a Canadian University IELTS: 6.5 (with at least 6.0 in each band) | TOEFL: 100 | Minimum overall aggregate of 73%
University of Saskatchewan 4-year undergraduate degree from a recognized university  IELTS: 6.5 (with at least 6.0 in each band) | TOEFL: 97 | Minimum overall aggregate of 70%
York University, Schulich School of Business 3-year undergraduate degree  IELTS: 7.0 (with at least 6.5 in each band) | TOEFL: 100 | Minimum overall aggregate of 60%
Brock University Successful completion of a 4-year undergraduate degree  iELTS: 7.5 (with at least 7.0 in each band) | TOEFL: 105 | Minimum overall aggregate of 75%
Carleton University Bachelor’s (Honors) Degree IELTS: 6.5 (with at least 6.0 in each band) | TOEFL: 86 | Minimum overall aggregate of 70%

Apart from satisfying the eligibility criteria, candidates are required to submit a number of documents during and after the applications, such as:-

  • Official transcripts or certified copies of original transcripts
  • Proof of prior experience
  • Copy of valid passport
  • Proof of English Proficiency
  • A statement of purpose (SOP)
  • Letter of Recommendation (LOR)
  • CV/ Resume

Masters in Accounting in Canada Annual Fees

The average annual tuition fees for a Master in Accounting in Canada range from CAD 7,800 to 39,600 (INR 4.71 to 23.92 Lakhs).

Masters in Accounting in Canada Annual Fees
University Annual Tuition Fees (CAD) Indian Equivalent (INR)
University of Alberta 25,704 15.66 lakhs
The University of Toronto 41,550 25.22 lakhs
University of Saskatchewan 27,150 16.37 lakhs
York University, Schulich School of Business 59,500 36.21 lakhs
Brock University 30,870 18.61 Lakhs
Carleton University 34,000 20.53 Lakhs

Cost of living in Canada

The following are the regular expenses that a student makes while studying in Canada.

Expense Type Average Cost (CAD) Cost Equivalent (INR)
Accommodation 1,037 62,465
Food 290 17,471
Transport 107 6,446
Internet 80 4,819
Books and Supplies 163 9,818
Miscellaneous 310 18,673

To get a detailed view, visit Cost of Living in Canada for International Students.

Cost of living in Canada

Masters in Accounting in Canada Scholarships

International students willing to pursue Masters in Accounts in Canada are eligible to apply for various scholarships. Some of these scholarships are mentioned below in the table.

Scholarships Eligibility Award (CAD)
International Entrance Scholarships High academic qualification (85% and 6.5+ IELTS Score) 2,000 for first two semesters
KPMG Jim Walker Memorial Scholarship in Accounting Minimum GPA 3.5 to enter University of Alberta 2,000
English Proficiency Entrance Scholarship
  • TOEFL iBT - 102 or IELTS - 7.5
  • TOEFL iBT- 110 or IELTS - 8
  • 1,000
  • 1,500
Alberta Graduate Excellence Scholarship Enrolled in any graduate degree at University of Alberta, Academic excellence 15,000
Ontario Graduate Scholarship Enrolled full-time at University of Toronto and Carleton University 15,000-30,000

Masters in Accounting in Canada Placements

Individuals may expect to earn an annual income ranging from CAD 39,000 to CAD 241,000 (INR 23.6 Lakhs to INR 1.45 Crore). Some of the popular job profiles in Canada to choose from after pursuing a Master in Accounting are tabulated as follows:

Masters in Accounting in Canada Placements

Job Title Average Annual Salary (CAD) Salary Equivalent (INR)
Senior Accountant 66,740 40.64 lakhs
Accountant 53,845 32.81 lakhs
Financial Analyst 66,293 40.39 lakhs
Financial Controller 84,002 51.18 lakhs
Chief Financial Officer (CFO) 165,506 1 crore
Accounting Manager 72,470 44.15 lakhs

Masters in Accounting in Canada Return on Investment

Masters in Accounting in Canada offer a great return on investment. A comparison of the university-specific annual tuition fees for a Master in Accounting in Canada and the average annual salaries are as follows.

Masters in Accounting in Canada Return on Investment
University Annual Tuition Fees (CAD) Average Annual Salary (CAD )
University of Alberta 25,704 68,000
University of Toronto 41,550 97,000
University of Saskatchewan 27,150 68,000
Schulich School of Business 39,600 59,000
Brock University 30,870 55,000
Carleton University 31,000 to 37,000 84,000

Masters in Accounting in Canada University Comparison

Masters in Accounting in Canada is offered by several top-ranked universities. The following table compares and contrasts the top 3 universities for a Masters in Accounting in Canada:

Particulars University of Toronto University of Alberta Schulich School of Business
QS Rankings #34 in the world #4 in Canada #110 in the world #456 in the world
Tuition Fee 41,550 25,704 39,600
GPA 73% aggregate 80% 65% aggregate
Program Duration 16 months 2 years 2 years
TOEFL iBT Score 100 95 100
Average Graduate Salary 85,000 49,000 48,000

Masters in Accounting in Canada v/s Masters in Accounting in USA

Parameter Masters in Accounting in USA Masters in Accounting in Canada
Duration 1-2 years 2 years
Average Tuition Fees 54,000 USD- 82,000 USD/year (32.89-49.94 lakhs INR) 27,150-59,500 CAD (16.54-36.26 lakhs INR)
Cost of Living 2,280 USD (1.85 lakhs INR) 1,987 CAD (1.19 lakhs INR)
Percentage Required 83-86% 60-70%
Accepted GMAT/GRE Scores GMAT: 600+ | GRE Quant: 160 GMAT: 600+ | GRE Quant: 155
English Language Proficiency Tests IELTS: 7.5 | TOEFL: 100 IELTS: 7.0 | TOEFL: 96
Average Salary 72,000 USD (43.85 lakhs INR) 74,000 CAD (45.06 lakhs INR)

Masters in Accounting in Canada opens up the door to new opportunities in the field of Accountancy and Finance related work. Individuals become Chief Financial Officers which can help them earn an enormous package of up to CAD 241,000 (INR 1.45 Crore) per year.

FAQs

Ques1. Is a Master in Accounting in Canada worth it?

Ans. Pursuing a Master’s in Accounting in Canada helps a student gain experience in the field of accountancy and its applications. Moreover, Canada is one of the most popular study-abroad destinations for both Master's in Accounting as well as other programs. You can also get better placement opportunities while studying in Canada.

Ques2. What is the best job profile after pursuing Master in Accounting in Canada?

Ans. After the completion of a Master's in Accounting in Canada, candidates can look forward to occupations such as Financial Analyst, Accountant, or Accounting Manager. However, the best job profile is CFO, i.e., Chief Financial Officer which offers an annual payout of 241,000 CAD or 1.43 Crores INR.

Ques3. Which country is best for studying Master in Accounting?

Ans. A Master's in Accounting can be pursued by individuals in some of the top study-abroad countries such as the USA, UK, Canada, Australia, Germany, France, etc.

Ques4. What is the minimum aggregate to study Master in Accounts in Canada?

Ans. The minimum eligibility criteria for applying to a university for a Master's in Accounting in Canada is to have a Bachelor’s degree in Accountancy or a relevant stream with a minimum aggregate of 65-75%.

Ques5. Is getting a job easy after Masters in Accounting in Canada?

Ans. Even after pursuing a Master's in Accounting in Canada, it is difficult for candidates to get the first job. Most of the companies require experience in Accountancy in order to hire individuals, which one can only gather after working somewhere.