Accounting and Finance

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 both the Chartered Professional Accountant (CPA) and Chartered Financial Analyst® (CFA®) 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). Obtaining either 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

Domestic International
Application payment deadline MAccFin:

Acceptance on a rolling basis (Summer 2021 entry)



Acceptance on a rolling basis (Summer 2021 entry)


Supporting documents deadline MAccFin:

Acceptance on a rolling basis (Summer 2021 entry)


Acceptance on a rolling basis (Summer 2021 entry)

Minimum admission average MAccFin:

Mid-B in final year of bachelor’s, Mid-B in CPA core courses


Mid-B in final year of bachelor’s, Mid-B in CPA core courses

Program length (full-time only) MAccFin:

4 sessions (16 months)


4 sessions (16 months)

Master of Accounting and Finance

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

      • MAF 1001H Advanced Topics in Financial Reporting (0.5 FCE)

      • MAF 1002H Strategy, Governance and Management Accounting (0.5 FCE)

      • MAF 2001H Economics and Quantitative Methods (0.5 FCE)

      • MAF 2002H Advanced Corporate Finance (0.5 FCE)

      • MAF 2003H Investment Analysis and Portfolio Management I (0.5 FCE)

      • MAF 4001H Advanced Seminar in Accounting and Finance I (CR/NCR, 0.0 FCE)

      • MAF 5001H Technical Update in Financial and Management Accounting (CR/NCR, 0.0 FCE)

      • MAF 5002H Finance Capstone Course I (CR/NCR, 0.0 FCE).

    • Session 2: Fall

      • MAF 1003H Advanced Topics in Assurance (0.5 FCE)

      • MAF 1004H Advanced Taxation (0.5 FCE)

      • MAF 2004H Financial Statement Analysis and Equity Valuation (0.5 FCE)

      • MAF 2005H Derivatives (0.5 FCE)

      • MAF 2006H Investment Analysis and Portfolio Management II (0.5 FCE)

      • MAF 3005H Integration and Analysis: Critical Thinking and Decision Making I (0.25 FCE)

      • MAF 4002H Advanced Seminar in Accounting and Finance II (CR/NCR, 0.0 FCE)

      • MAF 5003H Finance Capstone Course II (CR/NCR, 0.0 FCE)

    • Session 3: Winter

      • MAF 4000H Co-op Internship (0.5 FCE)

    • Session 4: Summer

      • MAF 1005H Current Issues in Accounting and Assurance (0.5 FCE)

      • MAF 2007H Fixed Income (0.5 FCE)

      • MAF 3001H Leadership in the 21st Century (0.25 FCE)

      • MAF 3002H Strategy, Business Development and Sales (0.25 FCE)

      • MAF 3003H Business Data Analytics (0.5 FCE)

      • MAF 3004H Integration and Analysis: Board Report (0.5 FCE)

      • MAF 3006H Integration and Analysis: Critical Thinking and Decision Making II (0.25 FCE)

      • MAF 5004H Integrated Case Writing (CR/NCR, 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