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 |
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).
| 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.
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 |
|
|
| 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:
| 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.
| 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.
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