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Masters in Accounting and Finance in Canada

Updated on 18 August, 2023

Mrinal Mandal

Mrinal Mandal

Study Abroad Expert

The ideal program to select for in-depth business learning is the MSc Accounting and Finance. For overseas students, the MSc Accounting and Finance program at Canadian University provides an unparalleled education, cutting-edge practical learning, and job chances. Students can pursue research projects and work as professionals in the industry after completing their MSc in Accounting and Finance from the Canadian University.

Gaining a master’s degree improves your earning potential and job prospects. For international students, Canadian University offers top-notch education, cutting-edge practical training, and professional chances. For example, students who earn an MSc in Accounting and Finance can conduct research and work as professionals in the sector

Why study Masters in Accounting and Finance in Canada?

Among the most sought-after programs for overseas students who desire to study in Canada are master’s degrees in accounting and finance. Let’s investigate why:

  • Research-focused universities

Canadian universities invest much in their research programs and have excellent facilities. For example, the Canadian Master’s of Accounting and Finance programs are now regarded as among the best in the world. In addition, Canada is renowned for offering overseas students an exceptional education and professional experience.

  • Study and Earn

With a valid work permit, international students can work up to 20 hours per week during semester breaks and the winter semester. Additionally, as long as you have your study permit, you can work on campus or as an intern in any business without needing a separate work permit.

  • Work anywhere in the world

Every firm needs an accountant to manage its finances. So, you can work in almost any industry or location. This is one of the best things about studying accounting and finance. Therefore, learning about various cultures and how people interact will benefit you if you study accounting and work in Canada after graduation.

Course Highlight

Gaining a master’s degree improves your earning potential and job prospects. Canadian Universities provide international students with a first-rate education, cutting-edge practical training, and employment prospects. For example, students who earn an MSc in Accounting and Finance from the University of Manchester will be qualified to conduct independent research and work as professionals in the field.

Course Name

MSc Accounting and Finance

Course Level

Postgraduate

Duration of the course

1 year

Intakes

Sep, Jan

Average Fees in CAD

30,000 CAD to 40,000 CAD annually

Types of Masters in Accounting and Finance in Canada

  • The Master of Accounting and Finance Program (MAccFin) is the first graduate degree to combine the business disciplines of accounting and finance.
  • Canadian universities offer the MAccFin program. It offers students a top-notch, hands-on educational experience that helps them become Chartered Professional Accountants (CPAs), Chartered Financial Analysts (CFAs), and Association of Chartered Certified Accountants (ACCAs), as well as a more real-world co-op experience.
  • Students will be eligible for advanced standing in the Chartered Professional Accountant Professional Education Program by completing the MAccFin (CPA PEP).
  • The Association of Chartered Certified Accountants (ACCA) has accredited the curriculum, and graduates of the MAccFin program will have direct entrance to the ACCA’s final Strategic Professional level tests after completing the course of study.

Best Universities for Masters in Accounting and Finance in Canada

The best way to describe studying accounting and finance in Canada is as rewarding, inventive, and full of unique experiences. The top 7 universities and accounting master’s programs in Canada are shown below, along with each institution’s ranking (as of the QS World University Ranking 2022) and annual tuition costs:

QS Ranking (2022)

University Name

Top Program

Estimated Annual Tuition Fees (Canadian Dollar)

26

University of Toronto

Master of Mathematical Finance

53,000

27

McGill University

Diploma in Accounting

28,000

46

University of British Columbia

LLM in Taxation

41,000

126

University of Alberta

Master of Financial Management

21,000

140

McMaster University

Master of Finance

49,000

458

University of Saskatchewan

Master of Professional Accounting

55,000

494

York University

Master of Business Administration - Finance

104,000

The University of Toronto, established in 1827, has developed into Canada’s top education, research, and knowledge development center. One of the top research-intensive colleges in the world, it is inspired to create new things. Through the institution’s broad network of teaching and research professors, alums, and partners, students at the University can study under and collaborate with eminent thought leaders.

A public institution, McGill was established in 1821. One of the top universities in the world, it is also among the most well-known colleges and universities in Canada. The University is renowned worldwide for the quality of its research and teaching initiatives. It fosters teaching excellence and gives students exciting, cutting-edge learning opportunities.

The Institution of British Columbia (UBC) is a hub for research, teaching, and learning on a worldwide scale. It has recently been named the most international University in North America and consistently ranks among the top 20 public universities in the world.

The University of Alberta (The U of A) is a sizable, all-encompassing, and inspiring institution in the top 100 universities worldwide and among the top five universities in Canada. The University of Alberta is home to about 36,000 students, including 7,000 international ones. At the University, more than 130 different countries are represented.

The Times Higher Education (THE) World University Rankings place McMaster University, founded in 1887, among the top 75 universities worldwide. Public university McMaster, which emphasizes medical research, is committed to enhancing individual and society health and well-being.

One of Canada’s oldest and most prestigious universities, the University of Saskatchewan (uSask), has a long history of excellence in research and instruction. Since its founding in 1907, the institution has pioneered research, setting the bar for advancement in medicine, agriculture, and science.

The world’s leading teaching and research institution, York, is a catalyst for progress. A warm, inclusive community empowers students with a distinctively global viewpoint, which helps them prepare for their long-term professional and personal success.

Course Curriculum of Masters in Accounting and Finance in Canada

Because there are so many degree programs—including PG Diploma, certificate, and PG degree courses—available in Canada, master’s in accounting and finance courses for overseas students are in great demand. These are a few of the sub-discipline-specific courses that are available:

Strategic performance management

Integration and team management

Taxation

Corporate finance

Financial statement analysis

Corporate governance

Accounting for non-governmental and nonprofit organizations

Information technology & systems

Eligibility Criteria for Masters in Accounting and Finance in Canada

The following criteria must be met in addition to English language proficiency for admission. Students must also submit the following papers throughout the application process. Your application may be denied if any required documents are incomplete or incorrect.

  • Must have graduated from an accredited school with a 10+2 diploma.
  • Should have a 3–4 year bachelor’s degree from a recognized university.
  • You must have a decent GPA throughout high school and your bachelor’s program.
  • Must obtain required GRE or GMAT scores (if required)

Masters in Accounting and Finance in Canada Requirements for Admission

Qualification

Entry Criteria

12th

No specific cutoff mentioned

Graduation

No specific cutoff mentioned

Applicants must have an appropriate four-year undergraduate degree with a specialization in accounting or equivalent, with a minimum overall average of a mid-B in all core courses

  • Bachelors Equiv: Bachelor`s Degree, requiring a minimum of 4 years of study (e.g., BPharm, MBBS, BDS, BTech, BEng, BArch, etc.) or completion of Both a Bachelor`s (three-year) degree and a Master`s

TOEFL

Marks - 100/120

  • 22/30 on the writing and speaking sections

IELTS

Marks - 7/9

Other eligibility criteria

Approved applicants will be invited to an interview on Kira Talent, where they will be asked video-recorded and written questions to demonstrate their communication skills and technical knowledge

Documents Required:

  • Transcripts: Scanned transcripts from all post-secondary programs attended must be available for digital upload at the time of application
  • Professional Reference Letter: One letter provided by a direct supervisor from the current or previous employer is considered an asset
    • This type of reference helps provide an outside perspective of the applicant’s work ethic and qualifications for employment
  • Academic Reference Letters: Minimum two required. These are generally completed by a professor who applicants have studied/worked with in the past.
    • Reference must provide an email address from a recognized university
  • Resume: Two pages summarize personal, academic, and professional accomplishments. Please highlight accomplishments demonstrating the applicant’s ability to complete the MAccFin program.
  • Statement of Interest: An essay of 250–400 words, written solely by the applicant, which outlines the motivation for applying to the program and what the applicant will accomplish during and after their studies
  • Proof of English language Proficiency

Masters in Accounting and Finance in Canada Admission Process

Following is a brief discussion of the application procedure for some of Canada’s renowned accounting universities:

  • To begin your accounting degree at the PG level in Canada, pick a course and a school.
  • Send in the application form and the required fee.
  • Transcripts, a bachelor’s degree (if necessary), and any other documentation that the specific University may demand, such as an SOP, a resume, LORs, or proof of work experience, should be sent.
  • You can also be requested to participate in an interview.
  • If there are scholarships or financial aid opportunities at the University, apply for them.
  • Await the result of the admission.

Masters in Accounting and Finance in Canada Fees for Studying 

The MSc Accounting and Finance program at Canadian University is reasonably priced for overseas students. With scholarships and other forms of financial aid, your tuition charge can be greatly reduced. In addition, high quality of life is available at Canadian universities, and finding affordable housing is simple.

Expense Name

Amount in CAD

Living Expenses

10260

Personal Expenses

4024

Transportation

828

Tuition

46440

Uncategorized

805

Scholarship for Masters in Accounting and Finance in Canada

The best accounting colleges in Canada offer a variety of scholarships, including many university-specific, privately financed, and government-supported options for overseas students.

The following scholarships are available to help you with your accounting studies in Canada:

Scholarships

Eligibility

Award (in CAD)

C.Douglas Mellor Prize, McGill University

●      Graduate certificate in financial accounting student

●      Outstanding academics

2,200

Kenneth F Byrd Prize, McGill University

●      Graduate certificate in financial accounting student

●      Outstanding academics

250

Principal’s Scholarship, Queen’s University

International Applicants showing high academic performance

4,000

Edward School of Business MPAcc Office, University of Saskatchewan

●      International applicants

●      Academic achievement or financial need 

5,000

Ontario Graduate Scholarship, University of Toronto

●      Full-time students

●      Scored grade A 

5,000 per session

Masters in Accounting and Finance in Canada Scope for Job

You can join multinational corporations like Deloitte, Accenture, Microsoft, Google, Apple, etc., after earning a master’s degree in accounting and finance in Canada. Let us also introduce you to consider a few PG-level accounting careers in Canada:

  • Higher education in a variety of specialties, including accounting, banking, and taxes
  • Pursue Chartered Professional Accounting courses (CPA)
  • Get a job at numerous corporate big players
  • Create your own company or venture.
  • Become a professor of accounting.
  • Become a consultant, auditor, accountant, financial analyst, or tax expert.

We’ve compiled some of the top accounting job descriptions and their typical incomes in Canada to give you a better idea of what professions look like after taking different accounting courses at the graduate level in Canada:

Job Profiles

Average Salary (in CAD)

Management Accountant

50,210

Government Accountant

43,250

External Auditor

41,400

Internal Auditor

46,450

IT Auditor

50,260

A master’s degree in accounting and finance from a Canadian university can help you land the job of your dreams and give you a wide range of alternatives in corporate finance and company management. You can also take advantage of a wide range of scholarship opportunities in Canada as an international student!

Mrinal Mandal

Study Abroad Expert

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