Best Master’s in Accountancy in Canada
Master’s in Accountancy in Canada
The master’s degree is a level of education that is one step above the bachelor. After earning an undergraduate degree, students can choose to continue studying by enrolling in a master’s program. Upon completion, graduates will enjoy many benefits that will help kick start their career. The Master’s in Accountancy is a professional degree program that is unique to Canada and Australia. If you are interested in becoming an accountant or working in this field in Canada, you should be thoroughly familiar with the program standards. The following short guide will help you learn what is involved with earning a Master’s in Accountancy.
What is a Master’s in Accountancy in Canada?
Before you can enroll in a Master’s in Accountancy program, you must earn your bachelor’s degree in a related field. It is possible to earn a Bachelor in Accountancy if studying in Canada, but other degrees in accounting will also qualify you. The bachelor program requires four years while earning a master’s degree takes between one and three years to complete. Studying accountancy means you will be earning a Master’s of Science, although some schools may offer it as a Master of Business. While some programs are entirely course-based or research-based, the majority of programs incorporate a mixture of the two. The Master’s in Accountancy also commonly involves:
- Occasional examination
- Final scientific thesis
- Exploratory courses to help you specialise
- Theory-based lectures
It may seem like the only application for a Master’s in Accountancy is to become an accountant, but there are actually many options for graduates. This means that it is very wise to spend time specialising and figuring out exactly how you intend to use your degree. This will allow you to be more prepared upon graduation and have the appropriate skills to begin your career.
What Are the Benefits of Getting a Master’s in Accountancy in Canada?
Students that choose to study further and earn a master’s degree have more benefits than those that just earn a bachelor’s degree. There are many positions that master’s degree holders can enter directly that others would have to spend years advancing to after beginning work. Additionally, the salary that is possible to earn with a master’s degree is much higher. The Master’s in Accountancy program is designed to prepare students to take the Uniform Certified Public Accountant Examination, the Common Uniform Examination, or another certification. Those that are interested in consultancy work or corporate accounting will likely be taking the Certified Management Accountant or the Certified Internal Auditor. Most programs incorporate preparation for these certification tests right into the coursework. Other benefits include:
- Excellent opportunity to study abroad
- Choose from some of the best accounting schools, such as HEC Montreal, University of Toronto, or McGill University
What Kind of Career Can You Expect with a Master’s in Accountancy in Canada?
Reports show that the number of jobs in the accounting field is expected to increase significantly over the coming decade. As you would expect, the most common career that holders of a Master’s in Accountancy pursue is as accountants. These professionals are responsible for keeping track of finances and other numbers in a business of any size. There are many different kinds of accountants, so you should be familiar with this field and think about how you will like to specialise.
Another area that you can work in with a degree in accountancy is budget analysis or consultancy. Instead of being in the finance department of a business, it is possible to work independently or with a smaller company that provides analysis services.
Compliance managers are high level accountants that ensure a business is in line with the policies and requirements that they have. It is common for compliance managers to file the taxes of a business, handle audits, or check records.
It is also possible to become an actuary or appraisal specialist. Actuaries are responsible for analysing the risk involved with making certain decisions and making recommendations for minimising that risk. Actuaries may be involved with the creation of policies or they may simple be consulted before new projects get underway. Alternatively, appraisal specialists analyse what a resource is worth, rather than risk. These professionals commonly do similar work, being called in to identify the value of potential purchases or prospects.