Masters in Accounting in Canada

Master's in Accounting in Canada is a great choice if you want a stable, high-paying career in finance, auditing, or taxation. Salaries for accounting professionals in Canada range from CAD 65,000 – 90,000 (₹40 – 56 lakh) per year, and job opportunities are growing fast.

Why Pick Canada for Accounting?

• Schools like University of Toronto and UBC offer world-class accounting programs.
• Many master's programs help students qualify for the Chartered Professional Accountant (CPA) designation.
• The employment rate for accounting grads is over 96% within six months of graduation.

Most programs take 8 months to 2 years, and tuition fees range from CAD 25,000 – 50,000 (₹15 – 31 lakh) per year.

Example: The Master of Accounting (MAcc) at University of Waterloo is a 12-month CPA-focused program with internships and high placement rates.

If you're looking for a secure and well-paying career, a Master's in Accounting in Canada is worth considering.

Read: How to Get PR in Canada

Quick Highlights of Master's in Accounting in Canada

Here's a quick overview of studying Master's in Accounting in Canada:

Best Universities for Master's in Accounting in Canada

Canada has some of the top-ranked universities offering a Master's in Accounting, with strong links to the CPA designation, industry partnerships, and high job placement rates.

Here's a look at the best universities for accounting studies.

1. University of Toronto

Location: Toronto, Ontario – Canada's financial hub

The Master of Accounting & Finance (MAccFin) at the Rotman School of Management is one of the most recognized programs for future CPAs and financial leaders. It combines accounting, finance, and data analytics, preparing graduates for leadership roles.

QS World University Rankings 2025: #1 in Canada for Business & Accounting

Admission Requirements

Bachelor's Degree: Minimum B+ (77-79%) or First-Class Honours in accounting, finance, or business.
English Proficiency: IELTS 7.0+ (no band below 6.5), TOEFL 100+.
GMAT/GRE: Not required but recommended for competitive applicants.
Letters of Recommendation: Two strong academic or professional references.

Tuition Fees

CAD 55,000 - 60,000 per year (₹34-37 lakh)

Specializations & Programs

Financial Reporting & Assurance
Corporate Finance & Risk Management
Data Analytics in Accounting
Taxation & Compliance

2. University of British Columbia (UBC)

Location: Vancouver, British Columbia – Ideal for finance and consulting careers

UBC's Master of Professional Accounting (MPAcc) is a CPA-accredited program designed to fast-track students toward earning their Chartered Professional Accountant (CPA) designation.

QS World University Rankings 2025: #2 in Canada for Business & Accounting

Admission Requirements

Bachelor's Degree: Minimum B+ (77% or higher) in accounting or business.
English Proficiency: IELTS 7.0+, TOEFL 100+.
GMAT/GRE: Not required.
Work Experience: Recommended but not mandatory.

Tuition Fees

CAD 48,000 - 52,000 per year (₹29-32 lakh)

Specializations & Programs

CPA Preparation Track
Forensic Accounting & Fraud Investigation
Financial Management & Auditing
Data Analytics in Accounting

3. York University – Schulich School of Business

Location: Toronto, Ontario – Strong industry connections in finance & banking

Schulich's Master of Accounting (MAcc) is an intensive program that covers CPA-accredited coursework, making it one of the fastest routes to a CPA designation. Schulich is also known for its strong job placement rates in accounting firms and corporate finance roles.

QS World University Rankings 2025: Top 5 in Canada for Accounting & Finance

Admission Requirements

Bachelor's Degree: Minimum B (75%) in accounting or related business fields.
English Proficiency: IELTS 7.0+, TOEFL 100+.
GMAT/GRE: Not required but preferred.
Work Experience: Not mandatory but beneficial for applications.

Tuition Fees

CAD 50,000 - 55,000 per year (₹30-34 lakh)

Specializations & Programs

Financial Reporting & Assurance
Taxation & Compliance
Risk Management & Internal Controls
Management Accounting & Strategy

4. University of Alberta

Location: Edmonton, Alberta – Great for corporate and government accounting roles

The Master of Accounting (MAcc) at the University of Alberta is designed for students aiming for CPA certification and roles in auditing, finance, and taxation. The program has strong ties with public accounting firms, government agencies, and financial institutions.

QS World University Rankings 2025: Top 10 in Canada for Business & Accounting

Admission Requirements

Bachelor's Degree: Minimum B (75%) or higher in accounting, business, or related fields.
English Proficiency: IELTS 6.5+, TOEFL 90+.
GMAT/GRE: Not required.
Work Experience: Recommended but not required.

Tuition Fees

CAD 38,000 - 42,000 per year (₹23-25 lakh)

Specializations & Programs

Advanced Auditing & Assurance
Corporate Tax & Financial Planning
Financial Risk & Performance Analysis
International Accounting & Reporting Standards

Must Read: Why Study in Canada

5. McGill University

Location: Montreal, Quebec – Best for bilingual careers (English & French)

McGill's Graduate Certificate in Professional Accounting (GCPA) is designed for students looking to fast-track their CPA designation. The program is CPA-accredited and recognized across Canada, making it an ideal choice for those planning to work in public accounting, corporate finance, or auditing.

QS World University Rankings 2025: Top 3 in Canada for Business & Accounting

Admission Requirements

Bachelor's Degree: Minimum B (75%) or higher in accounting, business, or finance.
English Proficiency: IELTS 7.0+, TOEFL 100+.
French Requirement (For Some Roles in Quebec): Basic proficiency preferred.
GMAT/GRE: Not required.

Tuition Fees

CAD 40,000 - 45,000 per year (₹24-27 lakh)

Specializations & Programs

CPA Pathway (Fully CPA-Accredited)
Financial Reporting & Auditing
Taxation & Business Law
Corporate Finance & Investment Accounting

6. Queen's University – Smith School of Business

Location: Kingston, Ontario – Strong job placement in the Big 4 accounting firms

Queen's Graduate Diploma in Accounting (GDA) is a CPA-preparatory program designed for students looking to complete CPA coursework quickly. Queen's graduates have one of the highest CPA pass rates in Canada.

QS World University Rankings 2025: Top 5 in Canada for Accounting & Finance

Admission Requirements

Bachelor's Degree: Minimum B (75%) or higher in accounting or related fields.
English Proficiency: IELTS 7.0+, TOEFL 100+.
GMAT/GRE: Not required.

Tuition Fees

CAD 38,000 - 42,000 per year (₹23-25 lakh)

Specializations & Programs

CPA Fast-Track Program
Forensic Accounting & Fraud Analysis
Risk Management & Internal Auditing
Financial Planning & Consulting

7. Western University – Ivey Business School

Location: London, Ontario – Best for accounting leadership & finance careers

Western University's Master of Management in Analytics (MMA) offers a strong foundation in financial analytics, auditing, and corporate risk management. It is a great choice for students who want to combine accounting with technology, business strategy, and data analytics.

QS World University Rankings 2025: Top 6 in Canada for Accounting & Business

Admission Requirements

Bachelor's Degree: Minimum B+ (77-79%) or higher in accounting, finance, or business.
English Proficiency: IELTS 7.0+, TOEFL 100+.
GMAT/GRE: Required for some applicants.

Tuition Fees

CAD 50,000 - 55,000 per year (₹30-34 lakh)

Specializations & Programs

Accounting & Business Analytics
Financial Risk Management
Strategic Decision-Making in Accounting
Auditing & Compliance Reporting

Accounting Degrees Available in Canada

Looking to build a career in accounting, finance, or auditing? Canada has some great options. Whether you want to become a Chartered Professional Accountant (CPA) or move into corporate finance, there's a degree that fits your goals.

1. Master of Accounting (MAcc)

Advanced accounting degree for students who want to become CPAs.
Covers financial reporting, tax law, auditing, and risk management.
Some programs offer CPA exam preparation as part of the course.
Usually takes 12-16 months to complete.

2. Master of Business Administration (MBA) with Accounting Specialization

Business-focused degree with accounting, finance, and management courses.
Ideal for students who want leadership roles in finance or corporate accounting.
Includes subjects like corporate finance, strategic management, and taxation.
Takes 12-24 months, depending on full-time or part-time study.

3. Graduate Diploma in Accounting

Short program for students who want CPA certification without a full master's degree.
Focuses on financial reporting, auditing, and managerial accounting.
Can be completed in 8-12 months.

4. PhD in Accounting

Research-based degree for students interested in teaching or academic research.
Includes advanced studies in financial accounting, corporate governance, and auditing.
Takes 4-5 years to complete.

Course Structure: What Will You Study?

You'll study how businesses manage money, how financial laws work, and how companies make big financial decisions. Plus, if you're planning to take the CPA exam, some programs include built-in preparation.

Here's what you'll learn:

Core Subjects (Every Program Covers These)

• Financial Accounting – Learn to prepare and analyze company financial statements.
• Managerial Accounting – Understand budgeting, costs, and business decision-making.
• Taxation – Covers personal and corporate tax laws in Canada.
• Auditing & Risk Management – Learn how companies prevent fraud and ensure accuracy.
• Business Law & Ethics – Understand accounting regulations and ethical challenges.

Electives & Specializations (Choose Based on Career Goals)

• Forensic Accounting – Learn how to investigate financial fraud.
• International Taxation – Understand global tax systems and cross-border finances.
• Corporate Finance – Focuses on mergers, investments, and financial planning.
• Financial Analytics & AI in Accounting – Use data analytics in financial decision-making.

Real-World Learning

• Case Studies & Financial Simulations – Work on actual business problems.
• Internships & Co-op Programs – Gain hands-on experience at top accounting firms.
• CPA Exam Prep – Some programs include dedicated training for the CPA certification.

CPA (Chartered Professional Accountant) Pathway in Canada

If you want to become a CPA in Canada, a master's in accounting is a great way to get there. Many universities offer CPA-accredited programs, which means your coursework will cover the core subjects required for the CPA certification.

How a Master's Degree Aligns with CPA Requirements

Most Master of Accounting (MAcc) and Graduate Diploma in Accounting programs are designed to meet CPA coursework requirements.

They cover financial reporting, audit, tax, and management accounting, which are key CPA subjects.

Some programs include CPA exam prep, making it easier to pass the tests after graduation.

Steps to Earn a CPA Designation After Graduation

1. Complete an Eligible Degree – A bachelor's or master's in accounting from a CPA-accredited university.
2. Enroll in the CPA Professional Education Program (CPA PEP) – A two-year training program with coursework and exams.
3. Gain Practical Experience – 30 months of supervised work in accounting or finance.
4. Pass the Common Final Exam (CFE) – A three-day CPA exam that tests your knowledge.
5. Apply for CPA Membership – Once you complete all steps, you earn your CPA designation.

Universities with CPA-Accredited Programs

• University of Toronto – MAcc
• McMaster University – Graduate Diploma in Accounting
• University of British Columbia – Master of Professional Accounting
• York University – Master of Accounting (MAcc)
• University of Alberta – MBA with Accounting Specialization

Suggested: Student Visa for Canada

Eligibility and Admission Requirements for a Master's in Accounting in Canada 

Admission to a Master's in Accounting depends on your academic background and English proficiency. Some programs accept non-accounting graduates, but they may need to take extra courses before starting.

Minimum Academic Qualifications Required

A bachelor's degree in accounting, finance, business, or a related field.
Minimum B average (3.0 GPA or 75%), but top schools may require higher scores.
Some programs accept engineering, economics, or math graduates, but they may need additional accounting courses.

Can Non-Accounting Graduates Apply?

Yes, but you may need prerequisite courses before starting the master's program.
Some universities offer conversion courses in financial accounting, taxation, and auditing for students from non-accounting backgrounds.
If you don't have an accounting degree, an MBA with an accounting specialization might be a better option.

English Language Requirements

IELTS: Minimum 6.5 - 7.0 (varies by university).
TOEFL: Minimum 90 - 100 (with a minimum score in each section).
PTE: Some universities accept PTE scores of 65+.
If your previous degree was in English, you may qualify for an IELTS/TOEFL waiver.

Tuition Fees for Master's in Accounting in Canada

Canada is a popular destination for international students, but tuition fees can vary widely. On average, international students pay CAD 40,000 - 55,000 (₹24-34 lakh) per year for a Master's in Accounting. Compared to countries like the US or UK, Canada offers more affordable tuition and better PR opportunities after graduation.

Tuition Fees & Additional Costs for International Students

Tuition Fee Comparison: Domestic vs. International Students

International students pay 2-3 times more than domestic students.
Example: At McMaster University, Canadian students pay CAD 20,000 (₹12.3 lakh), while international students pay CAD 42,000 (₹25.9 lakh).
Some universities offer scholarships that reduce tuition for high-performing international students.

Additional Costs for International Students

Living Expenses: CAD 12,000 - 18,000 per year (₹7.4 - 11 lakh) depending on the city.
CPA Prep Materials & Exam Fees: CAD 2,500 - 4,000 (₹1.5 - 2.5 lakh).
Student Fees & Health Insurance: CAD 1,000 - 2,500 per year (₹60,000 - 1.5 lakh).
Books & Study Materials: CAD 1,200 - 2,000 per year (₹74,000 - 1.2 lakh).

How Can International Students Manage Costs?

• Look for scholarships – Some universities offer CAD 5,000 - 15,000 (₹3 - 9 lakh) in funding.
• Work Part-Time – Student visas allow 20 hours per week during semesters and full-time during breaks.
• Choose Affordable Cities – Studying in Alberta or Nova Scotia is cheaper than Toronto or Vancouver.
• On-Campus Jobs – Many universities offer research assistantships and student jobs to help cover expenses.

Fact: Over 60% of international students in Canada work part-time to help with living expenses.

Student Visa Requirements for Canada

To study in Canada, international students need a Study Permit (Student Visa). This visa allows you to study full-time, work part-time, and stay in Canada for the duration of your course.

Step-by-Step Student Visa Application Process

1. Get Your Letter of Acceptance (LOA)

Apply and get accepted into a Designated Learning Institution (DLI) in Canada.
Once admitted, the university will send you an official Letter of Acceptance (LOA).

2. Gather Required Documents

• Valid Passport – Must be valid for the entire duration of your studies.
• Letter of Acceptance (LOA) – Proof of admission from a recognized university.
• Proof of Funds – Bank statements showing at least CAD 20,635 (₹12.5 lakh) per year to cover living costs.
• Statement of Purpose (SOP) – Explain why you want to study in Canada.
• Immigration Medical Exam (IME) – Some students may need a medical check-up.
• English Test Scores (If required) – IELTS, TOEFL, or PTE.

3. Apply for Your Study Permit

• Submit an online application on the IRCC (Immigration, Refugees, and Citizenship Canada) website.
• Pay the visa application fee (CAD 150 or ₹9,000).
• Attend a biometrics appointment at your nearest visa center.

Wait for Approval & Travel to Canada

Visa processing takes 4-12 weeks, so apply early.
Once approved, you'll receive a Port of Entry (POE) Letter to show when arriving in Canada.
After landing, get your study permit stamped at the airport.

Work Rules for International Students

• Allowed Work Hours: Up to 20 hours per week during semesters.
• Full-Time Work: Allowed during semester breaks and holidays.
• On-Campus Jobs: Many universities offer research assistant and student service jobs.
• Co-op & Internship Programs: Some degrees include paid work placements, helping students gain experience.

Job Opportunities After a Master's in Accounting in Canada

Canada's strong demand for skilled accountants means graduates can find well-paying roles in both the public and private sectors. Canada offers many paths to success - tax, audit, financial management, and more. 

Here's a look at the exciting job prospects you can expect after completing your degree.

Top Accounting Jobs & Salaries

Demand for Accountants in Different Provinces

• Ontario & British Columbia – Highest demand for CPAs and auditors.
• Alberta – Strong job market in oil & gas accounting and corporate finance.
• Quebec – Many openings in financial analysis and management accounting.
• Manitoba & Saskatchewan – Growing demand for accountants in agriculture and real estate finance.

Companies That Actively Hire Accounting Graduates

• Big 4 Accounting Firms – Deloitte, PwC, KPMG, EY.]
• Banks & Financial Institutions – RBC, TD Bank, Scotiabank, BMO.
• Tech & Retail Companies – Shopify, Amazon Canada, Walmart Canada.
• Government & Public Sector – Canada Revenue Agency (CRA), provincial tax offices.
• Corporate Accounting – Large companies like Air Canada, Loblaws, and Telus.

Work Visa & PR (Permanent Residency) Pathways

If you're planning to stay after graduation, you'll need the right work permit and PR pathway. Canada actively welcomes skilled professionals, and accountants are in high demand across industries.

Here's how you can stay and work in Canada after finishing your studies:

Post-Graduation Work Permit (PGWP) Options

Once you graduate from a recognized Canadian university, you can apply for a PGWP. This lets you work in Canada for up to 3 years. No job offer is needed, and you can work for any employer, anywhere in Canada.

• If your program was less than 2 years, your work permit will match the length of your studies.
• If your program was 2 years or longer, you'll get a 3-year PGWP.
• Gaining at least 1 year of work experience in Canada makes it easier to apply for permanent residency (PR).

Express Entry & PR Pathways for Accountants

If you want to stay in Canada permanently, the Express Entry system is the fastest way. Accountants qualify under the Federal Skilled Worker Program (FSWP) or the Canadian Experience Class (CEC) if they have work experience in Canada.

• Express Entry – Federal Skilled Worker Program (FSWP)
  Accountants fall under NOC 1111 (Financial Auditors & Accountants).
  You need at least one year of work experience in accounting, either in Canada or abroad.
  PR applications through Express Entry take around 6 months if you qualify.
• Provincial Nominee Programs (PNP)
  If your Express Entry score isn't high enough, getting a PNP nomination from a province can add 600 extra points, making it much easier to get PR.
• Quebec Skilled Worker Program (QSWP)
  If you're planning to work in Quebec, there's a separate PR system that doesn't use Express Entry. Knowing French can increase your chances of getting selected.

Best Provinces for Accounting Professionals Seeking PR

• Ontario & British Columbia – The biggest financial job markets, especially in banking and corporate accounting.
• Alberta – High-paying accounting jobs in oil, gas, and real estate.
• Manitoba & Saskatchewan – Easier PR process due to fewer applicants.
• Quebec – Great for accountants who speak both English and French.

Ready to Apply? Here's Your Next Step

So, you've decided to study accounting in Canada. What's next? Here's your quick action plan:

Pick a University – Check tuition fees, CPA accreditation, and program details.
Meet Admission Requirements – GPA, English test scores, and any prerequisite courses.
Prepare Documents – Get your SOP, LORs, transcripts, and resume ready.
Submit Applications – Most deadlines close 6-12 months before the intake.
Plan Your Finances – Look into scholarships, part-time jobs, and budgeting.
Apply for a Study Permit – Once accepted, start your student visa process.
Sort Out Accommodation & Travel – Book flights, find housing, and get health insurance.

That's it! Your journey to studying (and working) in Canada starts now.