Masters in Accounting in Canada: A Complete Guide on Masters in Accounting in Canada for international Students Image
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Masters in Accounting in Canada: A Complete Guide on Masters in Accounting in Canada for international Students

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Yocket Editorial Team
18 mins read
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One of the most sought after courses, Masters in Accounting in Canada is quite popular among the international population starting their academic journeys in Canada. With top notch universities, out of the world industrial exposures, and some of the best recruiters in the world, Canada attracts international students from across the globe. A master degree in accounting in Canada can land you a job with an average starting salary of around 52,876 CAD per annum, which is definitely higher than the annual tuition fee of approximately 43,000 CAD.

Want to know more? Keep reading as we will answer all your queries on masters in accounting in Canada for international students, through this blog!

Table of Contents:

  1. Why Study Masters in Accounting in Canada?
  2. Program Structure and Curriculum for Masters in Accounting in Canada
  3. Eligibility and Admission Process to study Masters in Accounting in Canada
  4. Application Process to Study Masters in Accounting in Canada
  5. Top Universities in Canada to Study Masters in Accounting
  6. Difference between PG Diploma and Masters in Accounting
  7. Cost to Study Masters in Accounting Courses in Canada
  8. Scholarships to Study Masters in Accounting in Canada
  9. Job Opportunities after Studying Masters in Accounting in Canada
  10. Frequently Asked Questions about Masters in Accounting in Canada

 

Why Study Masters in Accounting in Canada?

The master degree in accounting in Canada is one of the highly chosen programs among the international population. Let's find out why:

  • Excellent job opportunities: To study Masters in Accounting in Canada, universities provide both domestic and international students with excellent job opportunities upon graduation. The average salary observed for account graduates in Canada stands at 52,876 CAD per annum.
  • Research centric universities: Providing the best infrastructure, masters in accounting universities in Canada have stood out across nations. Canada is popular for offering international students with outstanding education as well as industrial experiences.
  • Outstanding scope: The scope of accounting is set to rise by a further 10% increase in the coming years, thereby providing accounting graduates with an excellent value associated with their MSc accounting in Canada degrees.

Suggested: Know more about Accounting courses in Canada as an international student!

 

Program Structure and Curriculum for Masters in Accounting in Canada

Masters in Accounting courses in Canada for international students are observed to be in high demand precisely due to numerous degree programs available including PG Diploma, certificate and PG degree courses. Some of the course offerings in terms of sub disciplines are:

  • 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

Some of the most popular PG level degree programs offered at accounting universities in Canada are:

  • MBA in Accounting
  • Masters in Accountancy (MAcc)
  • MSc in Accounting
  • Graduate Diploma in Accounting

Let us tabulate some key aspects of the masters in accounting program in Canada:

Duration

1.5-3 years

Type

Full-time / Part-time

Mode

Online / Offline

Average Annual Tuition Fee for International Students

20,000 CAD to 50,000 CAD

Top Universities

●      University of Toronto

●      University of Alberta

●      University of British Columbia

●      University De Montreal

●      McGill University

 

Eligibility and Admission Reqirements to Study Masters in Accounting in Canada

Let us now check out the requirements and eligibility criteria to study masters in accounting in Canada for international students:

  1. Academic transcripts along with bachelor's degree
  2. English proficiency test scores
  3. GMAT or GRE Scores
  4. Additional requirements 

Talking about the masters in accounting in Canada requirements briefly, let's start with:

1.    Academic transcripts along with bachelor's degree

The most basic requirement to apply to all masters in accounting in Canada for international students is to have academic transcripts for every level of study. When applying to an MBA in Accounting in Canada, and other masters programs in accounting, you should have a bachelor's degree in a related field. Some prerequisite subjects for a majority of accounting programs in canada are:

  • Mathematics
  • Advanced functions
  • Calculus
  • English

 

2.    English proficiency test scores

It is essential for you, as international students, to have an English proficiency proof in terms of IELTS, TOEFL, PTE or other tests. The minimum IELTS requirement to study accounting masters in Canada is a score of 6.5 or above, depending on the university/ program you choose.

 

3.    GRE or GMAT Scores

When applying to a masters in accounting in Canada, top universities may also ask for GMAT or GRE scores.

 

4.    Additional Requirements

Additional requirements such as an interview, along with work experience, statement of purpose (SOP), and a Resume/ CV can also be asked by your university depending on the program you choose.

 

Application Process to Study Masters in Accounting in Canada

The application process for applying to some of the famous accounting universities in Canada has been discussed briefly below:

  • Choose your course and a university to start your accounting degree at the PG level in Canada.
  • Submit the application form along with the application fee.
  • Submit all the required documents including transcripts, bachelor's degree (if required), along with additional requirements like SOP, Resume, LORs, and proof of work experience, as asked by the particular university.
  • You may also be asked for an interview process.
  • Apply for a scholarship or financial aid, if available at the university.
  • Wait for the admission decision.

Suggested: How to Apply to Canadian Universities?

 

Top Universities to Study Masters in Accounting in Canada

Accounting studies in Canada at the PG level can be summed up as innovative, rewarding and filled with out of the box experiences. We have curated below the list for the best universities in Canada for masters in accounting:

Universities

QS World University Ranking 2022

Popular Programs Offered

Average Tuition Fee for International Students (in CAD)

University of Toronto

26

Masters in Accounting and Finance

Master of Management and Professional Accounting

Master of Forensic Accounting

 

35,000/ year

University of British Columbia

46

Masters in Accounting

20,000-30,000/ year

McGill University

27

Graduate Certificate in professional Accounting

 

40,000-59,690 (Total)

York University

494

Master of Accounting (MAcc)

Post Graduate Certificate in Accounting

Post Graduate Certificate in Advanced Professional Accounting

18,000/ year

McMaster University

140

Graduate Diploma in Financial Accountancy

10,000-15,000 CAD/ year

University of Saskatchewan

458

Masters of professional accounting

54,300 (total)

University of Alberta

126

Master of Accounting (MAcc)

25,200/ year

 

Difference between PG Diploma and Masters in Accounting in Canada

Though a PG Diploma will cost you less than a masters degree in accounting, and is usually of a duration of 1-1.5 years; a PG Diploma in Accounting in Canada will be less valuable as a degree as compared to a masters in accounting degree in Canada.

Meaning, a masters in accounting degree will open more doors for you in terms of excellent employment opportunities and a high pay scale as compared to a PG Diploma in Accounting in Canada.

 

Cost of Studying Masters in Accounting in Canada

The master in accounting in Canada fees depends entirely on the degree and university you choose. PG Diploma and graduate certificate courses in accounting range from 5,000 CAD to 20,000 CAD annually; whereas PG degree programs like MSc Accounting in Canada lie in the range of 30,000 CAD to 40,000 CAD annually.

Suggested: Know more about the Cost of living in Canada for international students!

 

Scholarships to Study Masters in Accounting in Canada

Numerous scholarships are available to pursue the best colleges for accounting in Canada, including a lot of university-specific, privately funded and government-funded scholarships are available for international students.

Given below are some scholarships to aid 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

 

Job Opportunities after Studying Masters in Accounting in Canada

Upon pursuing a masters in accounting course in Canada, you can definitely get into corporate giants like Deloitte, Accenture, Microsoft, Google, Apple etc. Let us also make you explore some career options post graduation in accounting at the PG level in Canada:

  • Higher education in various specializations like taxation, auditing, banking, etc
  • Pursue Chartered Professional Accounting (CPA)
  • Get employed at various corporate giants
  • Start a business/ venture of your own
  • Become an educator in the field of accounting
  • Become an auditor, accountant, financial analyst, tax specialist, consultant

For a better understanding of how careers post various accounting courses at the PG level in Canada look like, we have tabulated some top accounting job profiles, along with their average salaries 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

Suggested: How to Get Post Graduation Work Permit in Canada!

Getting a masters degree in accounting in Canada can definitely land you the job of your dreams, and can even open up a plethora of options for you in the field of both business management, and corporate financing. As an international student, you can also get hold of numerous scholarship options in Canada!

 

Frequently Asked Questions about Masters in Accounting in Canada

 

  1. Which are the top masters in accounting universities in Canada?

Ans. The best colleges for masters in accounting in Canada are: 

  • University of Alberta
  • University of Toronto
  • York University
  • McGill University

  1. What is the cost to study masters in accounting in Canada?

Ans. Graduate certificate and diploma programs can cost you around 5,000 CAD to 20,000 CAD per annum; whereas masters degree programs can range around 20,000 CAD to 50,000 CAD annually depending upon the university you choose.

 

  1. What are some career prospects after pursuing masters in accounting in Canada?

Ans. Some career prospects include:

  • Pursuing further education at the doctoral level
  • Starting your own business in accounting
  • Get employed as an accountant/ consultant/ auditor

  1. Are scholarships available for pursuing masters in accounting programs in Canada?

Ans. Yes, top universities in Canada for masters in accounting provide international students with numerous scholarships in the range of 2,000 CAD to 30,000 CAD per annum.

 

  1. What is one of the most popular programs in the field of accounting at the PG level?

Ans. One of the most popular programs in the field of accounting is the MBA in accounting in Canada.

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