Master of accounting and finance university of Toronto

Last Updated on August 31, 2023

Master Of Accounting And Finance University Of Toronto. Learn the accounting and finance essentials you need to start your career.

The master of accounting and finance program provides students with a strong foundation in fundamental business disciplines, combined with an applied research focus that culminates in both a comprehensive research project and a thesis.

This postgraduate program aims to develop a critical understanding of the accounting and finance professions and their practice in contemporary Canadian society. It will challenge you to think critically about the knowledge base that forms the foundation of these professions. Students will be trained in fundamental skills needed for entering professional practice, including concepts, theories and principles of accounting, finance, management and organizational behaviour.

Admission requirements for MS A&F University of Toronto, Tuition fees for MS A&F University of Toronto, Master of Accounting and Finance at University of Toronto are presented here.

Master Of Accounting And Finance University Of Toronto

Master of Accounting & Finance

Program: Master of Accounting & Finance
Field: Management
Degree: MAccFin
Duration: 16 months (4 academic terms)

U of T Scarborough’s Master of Accounting & Finance (MAccFin) program delivers a world-class, practical educational experience that prepares students for both the CPA and CFA Designations and provides real-world co-op experience.

The MAccFin is a professional graduate degree that is exclusively offered on a full-time basis designed to develop expertise in both the accounting and finance disciplines and their intersections. The program is housed within the Department of Management which has a long and distinguished history of providing an excellent education in Accounting and Finance. MAccFin offers a unique blend of courses designed to give students the opportunity to meet both the CPA Ontario and CFA requirements. Students will also complete courses in leadership, data analytics, and strategy, as part of their preparation to become strategic decision-makers and leaders of industry.

Program Overview

The Master of Accounting and Finance Program (MAccFin) is North America’s first graduate degree that integrates both accounting and finance business disciplines. Offered at the Scarborough campus (UTSC), MAccFin delivers a world-class, practical educational experience that prepares students for the Chartered Professional Accountant (CPA), Chartered Financial Analyst® (CFA®) and Association of Chartered Certified Accountants (ACCA) designations, and provides additional real-world co-op experience.

The 16-month, full-time program is accredited by the CPA Ontario and the curriculum is based on the Candidate Body of Knowledge from the Chartered Financial Analyst® Program administered by the CFA® Institute. By completing the MAccFin, students will qualify for advanced standing in the Chartered Professional Accountant Professional Education Program (CPA PEP). Furthermore, accredited by the Association of Chartered Certified Accountants (ACCA) as well, MAccFin graduates will have direct entry to ACCA’s final Strategic Professional level exams upon completion of our program. All MAccFin students now have 9 foundational course exemptions in the Applied Knowledge and Applied Skills levels when pursuing their ACCA qualification. Obtaining any of these in-demand, globally recognized and respected designations requires a commitment to higher standards of integrity and credibility, which can be essential to desirable employment.

The co-op component builds on 40 years of experience and leadership in co-operative education at UTSC. During the program, students will have access to UTSC’s diverse portfolio of Canada’s most prestigious employers to complete a four-month co-op internship.

Quick Facts

Application payment deadlineMAccFin:Acceptance on a rolling basis (Summer 2022 entry) MAccFin:Acceptance on a rolling basis (Summer 2022 entry) 
Supporting documents deadlineMAccFin:Acceptance on a rolling basis (Summer 2022 entry)MAccFin:Acceptance on a rolling basis (Summer 2022 entry)
Minimum admission averageMAccFin:Mid-B in final year of bachelor’s, Mid-B in CPA core coursesMAccFin:Mid-B in final year of bachelor’s, Mid-B in CPA core courses
Program length (part-time only)MAccFin:4 sessions (16 months)MAccFin:4 sessions (16 months)

university of toronto accounting program admission requirements

Program Description

The professional MAccFin degree program is offered over 16 months using a cohort-based model. In this four-session program, students must be registered full-time and complete a sequence of courses. This program begins in the Summer session.

The MAccFin program is designed for applicants who have not yet entered the workforce. These pre-experience applicants apply to the program immediately after completing their undergraduate degree. Applicants complete the School of Graduate Studies online admissions application and submit all official transcripts, two reference letters, and a resumé. Applicants must submit a supplemental application form to the Department of Management, UTSC.

Minimum Admission Requirements

  • Applicants are admitted under the General Regulations of the School of Graduate Studies. Applicants must also satisfy the additional admission requirements stated below.
  • An appropriate four-year undergraduate degree with a specialization in accounting or equivalent, with a minimum overall average of a mid-B in all core courses. Admission to the program is extremely competitive, and meeting the minimum overall average does not guarantee admission.
  • Applicants whose primary language is not English and who graduated from a university where the language of instruction is not English must achieve:
    • A Test of English as a Foreign Language (TOEFL) score of at least 580 overall on the paper-based test and 5 on the Test of Written English (TWE); 100/120 on the Internet-based test and 22/30 on the writing and speaking sections.
    • In special circumstances, a minimum score of 7.0 on the International English Language Testing System (IELTS) may be considered for admission.

Program Requirements

  • Coursework. Students must complete 8.5 full-course-equivalents (FCEs)* as follows:
    • Session 1: Summer
      • MAF1001H Advanced Topics in Financial Reporting (0.5 FCE)
      • MAF1002H Strategy, Governance and Management Accounting (0.5 FCE)
      • MAF2001H Economics and Quantitative Methods (0.5 FCE)
      • MAF2002H Advanced Corporate Finance (0.5 FCE)
      • MAF2003H Investment Analysis and Portfolio Management I (0.5 FCE)
      • MAF4001H Advanced Seminar in Accounting and Finance I (Credit/No Credit, 0.0 FCE)
      • MAF5001H Technical Update in Financial and Management Accounting (Credit/No Credit, 0.0 FCE)
      • MAF5002H Finance Capstone Course I (Credit/No Credit, 0.0 FCE).
    • Session 2: Fall
      • MAF1003H Advanced Topics in Assurance (0.5 FCE)
      • MAF1004H Advanced Taxation (0.5 FCE)
      • MAF2004H Financial Statement Analysis and Equity Valuation (0.5 FCE)
      • MAF2005H Derivatives (0.5 FCE)
      • MAF2006H Investment Analysis and Portfolio Management II (0.5 FCE)
      • MAF3005H Integration and Analysis: Critical Thinking and Decision Making I (0.25 FCE)
      • MAF4002H Advanced Seminar in Accounting and Finance II (Credit/No Credit, 0.0 FCE)
      • MAF5003H Finance Capstone Course II (Credit/No Credit, 0.0 FCE)
    • Session 3: Winter
      • MAF4000H Co-op Internship (0.5 FCE)
    • Session 4: Summer
      • MAF1005H Current Issues in Accounting and Assurance (0.5 FCE)
      • MAF2007H Fixed Income (0.5 FCE)
      • MAF3001H Leadership in the 21st Century (0.25 FCE)
      • MAF3002H Strategy, Business Development and Sales (0.25 FCE)
      • MAF3003H Business Data Analytics (0.5 FCE)
      • MAF3004H Integration and Analysis: Board Report (0.5 FCE)
      • MAF3006H Integration and Analysis: Critical Thinking and Decision Making II (0.25 FCE)
      • MAF5004H Integrated Case Writing (Credit/No Credit, 0.0 FCE)

* A final grade below 70% in any course equates to an FZ, which is an insufficient grade. A MAccFin student who receives a final grade of FZ will be recommended for termination of registration from the MAccFin program.

Program Length

4 sessions full-time (typical registration sequence: S/F/W/S)

Time Limit

3 years full-time

Eligibility & Entry Requirement

Academic Eligibility:

  • An appropriate bachelor’s degree, or its equivalent, with a final year average of at least mid-B from a recognized university.
  • Applicants should have obtained a minimum undergraduate GPA of 3.0 or the equivalent in the last 60 semester hours (approximately two years of work).
  • Students must be qualified in IELTS or TOEFL and GMAT to get admission in this program.
  • A minimum of two years of full-time work experience is strongly recommended.

Indian Student Eligibility:

Indian students are eligible to apply if they meet one of the following eligibility criteria:

  • Minimum GPA: 1st Class/Div or 8.0/10; 7.5/10 from Indian Institutes of Technology
  • A Minus GPA: 1st Class/Div or 9/10; 8.5/10 from Indian Institutes of Technology
  • B Plus GPA: 1st Class/Div or 8.5/10; 8/10 from Indian Institutes of Technology
  • Bachelors Equiv: Bachelor`s Degree, requiring a minimum of 4 years of study (e.g. BPharm, MBBS, BDS, BTech, BEng, BArch, etc.) or completion of BOTH a Bachelor`s (three-year) degree and a Master`s
  • Masters Equiv: MPhil; MTech; MEng; MSc (Eng)

Required Document List

The Documents required are:

  • College Transcripts: The marks statement provided by the education board after completion of the previous academic qualifications.
  • Financial Documentation: The Proof that shows the financial background of the student.
  • Letter of Recommendation: This shows who recommended the student to pursue the degree.
  • Statement of Purpose: This is an essay or any written statement written by the student while applying.
  • Resume/CV: This provides a summary of the experience and skills of the student.
  • Tests Score statement: IELTS/TOEFL/PTE or other English proficiency testing results.

Application Deadline


EventEnd Date
Round 1Jan 11, 2022
Round 2Mar 8, 2022
Round 3Apr 26, 2022

Scores Required

100 / 120

Avg. Score in


7.0 / 9

Avg. Score in


660 / 800

Avg. Score in


Fees & Funding

Tution & Application Fees

YearYear 1Year 2
Tuition Fees$50416$51928
Health Insurance$576$576
Total Fees$50992$52504

Living Costs

HeadAvg Cost Per Year
Housing$ 3700
Food$ 2775
Transportation$ 980

Scholarship Grants & Financial Aids

NameAmountInternational Students EligibleApplication Deadline
Ontario Graduate Scholarship$ 10847YesN/A
Ellis R. Ott Scholarship for Applied Statistics and Quality ManagementVariableYesApr 1, 2020
FINCAD Women in Finance Scholarship$ 20000YesN/A
JN Tata Endowment ScholarshipVariableYesMar 15, 2021

university of toronto accounting tuition fees

The cost of studies at a post-secondary institution varies based on the program of choice, whether you live in residence, the cost of books, equipment, transportation and other living expenses.

A few things to note about the following fees and expenses:

  • All fees are listed in Canadian currency and are subject to change.
  • The fees and expenses listed below are effective for the 2021-2022 academic year; the 2022-2023 numbers become available in April.
  • Fees and expenses are based on a normal full-time course load of 5.0 credits.
  • Per-course fees are available on the U of T Student Accounts website; it will also be available when students begin selecting and registering for courses.

Tuition Fees (2021-22)

Computer Science
Information SecurityCommunication, Culture, Information & Technology
Digital Enterprise ManagementBiomedical CommunicationVisual Culture & Communication
Domestic$6,100 (Year 1)$11,420 (Upper Year)International$58,160 (Year 1)$60,150 (Upper Year)
All Commerce programsHuman Resource ManagementDomestic$6,100 (Year 1)$15,900 (Upper Year)International$58,160 (Year 1)$66,110 (Upper Year)
All Management programs
(except Human Resource Management, as listed above)
Domestic$6,100 (Year 1)$12,720 (Major)
(Upper Year)International$58,160 (Year 1)$60,150 (Major)
$66,110 (Specialist)

(Upper Year)
All Other Programs
(not specifically mentioned above)
Domestic$6,100 (Year 1)$6,100+ (Upper Year)International$58,160 (Year 1)$58,160+ (Upper Year)

Other Additional Costs (2021-22)

Incidental FeesIncidental fees contribute to things like student societies, campus-based services, athletics and recreation facilities, and student health and dental plans. Many of these fees are compulsory, but you will have the option of opting out of a small proportion of them.$1,885.60
ResidenceBoard and lodging costs for the school year will vary according to where you live, which meal plan you select, as well as other living expenses.$11,000 – $16,000
Books & School SuppliesThe majority of programs of study will require a combination of textbooks, special classroom aids, lab equipment, computer equipment, etc.$1,000 – $2,000
Parking on CampusIf you will be commuting by car and want to park on campus, you will have to purchase a sessional or annual parking pass, or pay for day parking fees.$644.35 and up
Public Transit / U-Pass / MiWayIf you plan on travelling by public transportation, there are many bus and shuttle services such as the TTC, Mississauga Transit, Brampton Transit, etc. Fare-free rides**only free on MiWay; included in your tuition fees; other transit options are pay-per-use.
U of T Mississauga / St. George ShuttleIf you plan on taking courses or visiting the St. George campus, UTM also offers an intercampus shuttle service, which registered students can ride without paying a fare.Fare-free rides**free for UTM students, with valid TCard.
University Health Insurance Plan (UHIP)An annual university health plan, required for all international students to have, unless otherwise exempted. This will be charged in your tuition statement. $756

master of accounting and finance university of toronto fees

Fees & ExpensesCADINR1st year tuition fees

Fees componentsAmount
Tuition & feesINR 24,31,506

Other expenses in 1st Year

Fees componentsAmount
Hostel & MealsINR 5,38,384
InsuranceINR 44,241
Application FeesINR 7,315
TotalINR 5,89,940

Calculated at the exchange rate of 1 CAD = INR 58.52|

Tuition & expenses were last updated on 9ᵗʰ December 2021

Entry Requirements

QualificationEntry Criteria
12thNo specific cutoff mentioned
GraduationNo specific cutoff mentioned
Applicants must have an appropriate four-year undergraduate degree with a specialization in accounting or equivalent, with a minimum overall average of a mid-B in all core coursesBachelors Equiv: Bachelor`s Degree, requiring a minimum of 4 years of study (e.g. BPharm, MBBS, BDS, BTech, BEng, BArch, etc.) Or Completion of BOTH a Bachelor`s (three-year) degree and a Master`s
Post GraduationNo specific cutoff mentioned
TOEFLMarks – 100/120
22 on the writing and speaking sections
IELTSMarks – 7/9

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