Master's in Accounting in Canada: Top Universities, Course Fees, Eligibility, and Job Prospects

The dynamic global commerce needs professionals with financial acumen. A postgraduate course in Accounting can fine-tune your accounting prowess and give your career a rewarding trajectory. The need for skilled Accountants is steady and open in public accounting firms, corporate finance departments, non-profit organisations, government agencies, and consulting firms.

Canada seems to be the best choice for studying abroad , considering the level of academic excellence and top-class infrastructure that the country offers to international students. A Master's in Accounting is ideal for those who are keen on pursuing a career as Chartered Professional Accountant (CPA). MS in Accounting is generally offered as a two-year postgraduate program at most universities in Canada. The course blends the development of soft skills with technical knowledge, which are equally critical in the accounting profession.

The Master’s in Accounting program at most Canadian universities is designed to help prepare students to sit for the Common Final Examination (CFE). Students who graduate from the MS course are qualified to appear for CFE. They can then pursue a career in the professional field of accounting in domains such as Management Accounting, Financial Accounting, Cost Accounting, and Auditing.

Why Study Master’s in Accounting in Canada?

International students prefer to study Master’s in Accounting in Canada for the following reasons:

• Canada's government allows international students to work part-time while continuing with their study program in the country. With a valid work permit, students can work up to 20 hours per week during their regular semesters and winter vacations. ( https://www.idp.com/nigeria/blog/study-accounting-finance-canada/ )

• The universities in Canada lay special emphasis on research programs, offering students an ideal mix of theoretical and hands-on learning. Students are encouraged to explore the field of Accounting and gain valuable insights that can help them professionally as well.

• The Canadian system of education is at par with international standards. The quality of learning imparted at universities in Canada prepares students to find employment and work comfortably in any part of the world upon course completion.

Accounting Courses in Canada for International Students

Several Canadian universities offer unique degree programs in Accounting and Finance. These courses are designed to provide students with a complete overview of the world of accountancy and numbers and develop skills in auditing and computation. These skills can go a long way in helping them succeed in the international business environment.

Here’s a list of 5 of the top Accounting and Finance courses in Canada that most international students widely opt for:

• LLM in Taxation offered at the University of British Columbia

• Bachelor of Business Administration (Honours) - Accounting, Audit, and Information Technology offered at Conestoga College

• Master of Taxation offered at the University of Waterloo

• Juris Doctor - Business Law and Tax Law offered at the University of Calgary

• Bachelor of Business Administration in Accounting - Taxation offered at Douglas College

Source: https://www.idp.com/canada/search/all-accounting/

Cost of Studying Master’s in Accounting in Canada for Indian Students

The fee structure for MS in Accounting taught at various universities in Canada is likely to vary based on the curriculum design, the location, and the rank of the university. On average, the approximate fees for a Master in Accounting in Canada are estimated at CAD 66,045 for one year. ( https://mmpa.utoronto.ca/tuition )

Eligibility Criteria and Admission Requirements to Study Master’s of Accounting in Canada

Every university in Canada has a different set of entry requirements for international students applying for MS Accounting courses. It is recommended that you check with the university you apply to to understand the specific requirements.

The standard eligibility requirements for a Master’s in Accounting in Canada include the following:

• An Undergraduate degree for 4 years from a recognised university either in Canada or any other part of the world

• Minimum GPA score of 3.0 on a scale of 4.0.

• Minimum IELTS score of 6.5 as proof of English proficiency

https://www.ualberta.ca/business/programs/master-of-accounting/admissions/index.html

Top Universities / Colleges for Master’s in Accounting in Canada

Canada hosts several top universities that offer widely popular MS in Accounting courses to international students. Listed below are some of the best study institutions that are worth considering:

Sources: https://www.idp.com/pakistan/blog/study-accounting-finance-canada/
https://www.topuniversities.com/university-rankings/university-subject-rankings/2023/accounting-finance?&countries=ca
https://www.timeshighereducation.com/world-university-rankings/2023/world-ranking#!/length/25/locations/CAN/subjects/3117/sort_by/rank/sort_order/asc/cols/stats

Career Prospects in Canada After Pursuing Master’s in Accounting

Students completing studies in MS Accounting from a renowned Canadian university are provided with the opportunity to work in the following job roles:

• General Accountants

• Cost Accountants

• Tax Auditors

• Payroll Administrators

• Accounting Technicians

The average salary for Accounting jobs in Canada will likely range between CAD 30,000 and CAD 35,000 per annum. This is likely to change as per changes in qualification and experience. ( https://www.ontariocolleges.ca/en/programs/business-finance-and-administration/accounting )

FAQs

1. Is there any 1-year master’s course in accounting in Canada?

Yes, some leading study institutions in Canada do offer MS Accounting courses for a total duration of 1 year. ( https://mendoza.nd.edu/graduate-programs/accountancy-msa/?utm_campaign=19984503337&utm_source=[g]-[c]-[]-[]&utm_medium=ppc&utm_content=655095531000&utm_term=[masters%20in%20accounting]-[b]&gad=1&gclid=CjwKCAjwzo2mBhAUEiwAf7wjklGfCJ1Y-ST0p2w71FvrG-GewWTeVeSs5xc88IQlMKMXeH4EVcStARoCQ8UQAvD_BwE )

2. What is the difference between MBA and Master’s in accounting?

An MBA degree is more comprehensive and covers the management aspects of the program. A Master's or MS degree narrows down the scope of the course, allowing ample potential for deeper study into just one aspect of the course.

3. What are the best Master’s in Accounting specialisations offered in Canada?

Some of the top specialisations that students can choose as part of MS Accounting programs, based on their interests are:

• Auditing

• Taxation

• Statistics

• Business Law

• Financial Planning and Ethics

4. Which province in Canada is best to study Master’s in Accounting?

Alberta currently tops the list of Canadian provinces offering the best courses in MS Accounting to international students.

5. What is the duration of a Master’s in Accounting degree in Canada?

Most MS programs in Accounting at a Canadian university are likely to go up to 2 years, based on the curriculum design. ( https://graduate.carleton.ca/cu-programs/accounting/ )

6. What are the benefits of pursuing a Master’s in Accounting in Canada?

Some of the top advantages of studying MS Accounting in Canada include:

• Earn-as-you-study course programs allow students to finance their expenses during their study in Canada

• Top-ranked universities as per QS World University Rankings 2023 with top-notch research and infrastructure facilities

• Internationally accredited degree enabling students to work in any part of the world upon course completion

7. What is the difference between a Master’s of Accounting and a Master’s of Finance?

An MS in Finance degree will likely cover a broader scope of the curriculum, covering Math, Financial Theory, Quantitative Finance, Investment, and more. An MS in Accounting course covers a more narrow and specific line of study - Accountancy.

8. Can I work as CPA in Canada after pursuing a Master’s in Accounting?

Yes, MS Accounting course graduates can apply for jobs as CPA upon course completion from an accredited Canadian university.

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