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Masters in Accounting in Canada: Fees & Careers!

For Indian students aspiring to excel in the field of accounting, Canada emerges as a premier destination. The Masters in Accounting in Canada is not just a pathway to a prestigious degree but a gateway to global opportunities. This guide delves into why Canada is the ideal choice for Indian students pursuing an MAcc degree, highlighting the program's structure, costs, and the promising career prospects it offers.

Wish to learn more? Continue reading as we address your questions regarding master's in accounting in Canada for Indian students in this blog!

Why Study Masters in Accounting in Canada?

Canada's reputation for high-quality education is a significant draw for international students, especially those from India. The MAcc program in Canada is tailored to equip students with in-depth knowledge in areas like taxation, banking, insurance, and financial strategies. With an average starting salary of around 46,300 USD for entry-level accountants, the program promises a lucrative career ahead.

Masters in Accounting in Canada: Course Highlights

Here are a few essential features of the master's in accounting degree offered in Canada:

  • Duration: 1.5 to 3 years, full-time/part-time options available.
  • Mode: Both online and offline modes are offered.
  • Tuition Fee: Ranges from 20,000 CAD to 50,000 CAD for international students.
  • Top Universities: University of Toronto, University of Alberta, and McGill University.
  • Scholarships: Ranging from 2,300 to 3,800 USD, aiding financial support.

Difference Between MBA in Accounting and Masters in Accounting

In Canada, we frequently mix terms like MBA and Masters in Accounting since they have similar sounds. But in actuality, there are significant discrepancies between their academic fields, job descriptions, and course structures.

To learn how the two options differ from one another, read the section after this one:


MBA in Accounting

Masters in Accounting

Basic Difference

Broader business experience with a specialization in accounting.

Focuses mainly upon accounting- theory, application, critical thinking and practice.

Core Areas of Study

Economic Performance Analysis, AUdit Theory, Strategic Cost Management, etc.

Taxation, Management, Accounting, etc.


1 year (common study) and 1 year (specialization)

2 years

Job Profiles

Chief Financial Officer, Consultant, Business Analyst, Tax Accountant, etc.

Management Accountant, Government Accountant, Internal or External Auditor, etc.

Average Starting Salary

59,400 USD

46,300 USD

Program Structure and Curriculum for Masters in Accounting in Canada

Because there are so many degree programmes accessible, including PG Diploma, certificate, and PG degree programmes, it has been followed that there is a significant demand for Masters in Accounting courses in Canada for overseas students. In terms of sub-disciplines, some of the methods available 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

In Canada, some of the most well-liked PG-level degree programmes in accounting are:

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

Top Canadian Universities for Masters in Accounting

The master of accounting in Canada can be considered creative, rewarding, and full of unique experiences. The list of the top Canadian universities offering master's degrees in accounting is shown below:

  • University of Toronto
    • Popular Programs: Masters in Accounting and Finance, Master of Management and Professional Accounting, Master of Forensic Accounting
    • Average Tuition Fee: 35,000 CAD/year
  • University of British Columbia
    • Popular Program: Masters in Accounting
    • Average Tuition Fee: 20,000 - 30,000 CAD/year
  • McGill University
    • Popular Program: Graduate Certificate in Professional Accounting
    • Average Tuition Fee: 40,000 - 59,690 CAD (Total)
  • York University
    • Popular Programs: Master of Accounting (MAcc), Post Graduate Certificate in Accounting, Post Graduate Certificate in Advanced Professional Accounting
    • Average Tuition Fee: 18,000 CAD/year
  • McMaster University
    • Popular Program: Graduate Diploma in Financial Accountancy
    • Average Tuition Fee: 10,000 - 15,000 CAD/year

Eligibility and Application Process for Masters in Accounting in Canada

International students, including those from India, looking to enrol in a Masters in Accounting program in Canada must meet certain eligibility criteria:

  • Academic Transcripts and Bachelor's Degree: Applicants should have a bachelor's degree in a related field with courses in Mathematics, Advanced Functions, Calculus, and English.
  • English Proficiency: A minimum IELTS score of 6.5 or equivalent in TOEFL or PTE is required.
  • GMAT or GRE Scores: Many top universities may require GMAT or GRE scores.
  • Additional Requirements: Some programs may require an interview, work experience, a Statement of Purpose (SOP), and a resume or CV.

The application process typically involves selecting a program and university, submitting the application form with the required fee, and providing necessary documents like SOP, LORs, and proof of work experience. Applicants may also be invited for an interview and can apply for scholarships or financial aid if available.

Documents Required for Application

Once accepted, students will need to submit various documents, including:

  • Academic Transcripts from recognized institutions
  • Reference Reports: 2 to 3 LORs
  • Statement of Purpose
  • Resume detailing educational background and professional experience
  • Graduate School Internal Scholarship or Award Application (if applicable).

Cost of Studying Masters in Accounting in Canada for Indian Students

Pursuing a Master in Accounting in Canada is a significant investment for Indian students, with costs varying based on the chosen university and program. Generally, Postgraduate (PG) degree programs like MSc Accounting range between 30,000 and 40,000 CAD per year. In contrast, PG diplomas and graduate certificate courses in accounting are more affordable, costing between 5,000 and 20,000 CAD annually.

Scholarships for Indian Students to Study MSc in Accounting in Canada

Many Canadian universities offer scholarships to international students, including those from India, to help offset the cost of their accounting studies:

  • C. Douglas Mellor Prize at McGill University: 2,200 CAD for outstanding academic performance in a graduate certificate in financial accounting.
  • Kenneth F Byrd Prize at McGill University: 250 CAD for excellence in financial accounting.
  • Principal's Scholarship at Queen's University: 4,000 CAD for international applicants with high academic performance.
  • Edward School of Business MPAcc Office at the University of Saskatchewan: 5,000 CAD based on academic achievement or financial need.
  • Ontario Graduate Scholarship at the University of Toronto: 5,000 CAD per session for full-time students.

Career Prospects and Salaries

After completing a Master in Accounting in Canada, Indian students can explore various career paths, including roles in multinational corporations like Deloitte, Accenture, and Google. Potential job profiles and average salaries in Canada include:

  • Management Accountant: 50,210 CAD
  • Government Accountant: 43,250 CAD
  • External Auditor: 41,400 CAD
  • Internal Auditor: 46,450 CAD
  • IT Auditor: 50,260 CAD

Obtaining a master's degree in accounting in Canada can help you get the career of your dreams and give you a wide range of alternatives in corporate finance and business management. You can also take benefit from a wide range of scholarship opportunities in Canada as an international student!

Hopefully, this blog gave you the information you needed to pursue a master's degree in accounting in Canada. Aiming to study in Canada? Reach out to the AECC experts, and we'll help you narrow down the best programme and institution in Canada while assisting you with the application process to get you nominated! 
Join us today for a free counselling session!


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