University of Maryland University College is also featured in our ranking Top 25 Most Affordable Online Bachelor’s in Accounting.
Located in Adelphi, Maryland, the University of Maryland University College (UMUC) is a public not-for-profit university. Students may take classes on-campus in Largo at its Academic Center or via satellite campuses in the Baltimore-Washington metropolitan area, throughout the state, or in Asia, the Middle East, and Europe. Serving more than 90,000 students worldwide, UMUC is one of the largest distance-learning universities in the world. It boasts a 100% acceptance rate for its undergraduate programs, and students can choose from more than 120 degrees in online and instructor-led classes, including graduate and undergraduate certificates, doctoral degrees, master’s degrees, and bachelor’s degrees.
UMUC began as an outgrowth of the evening program offered for adults at the University of Maryland, which started in the 1920s. The school established the College of Special and Continuation Studies (CSCS) in 1947 before becoming the University of Maryland University College in 1959. Eleven years later, UMUC announced its status as an independent institution, and in 1988, it became a member of the University System of Maryland, which includes 11 separate colleges in the state.
Online Accounting Degrees from the University of Maryland University College
Students looking to enter the field of accounting have two options in terms of degrees from the University of Maryland University College: an online bachelor’s degree and an online master’s degree. The accounting major combines practice and theory to help prepare students for the reporting on and analysis of economic activities of organizations. Students will develop skills in international accounting, taxation, external and internal auditing, financial reporting, financial analysis, internal controls, accounting systems, budgeting, and managerial accounting.
The curriculum for the bachelor’s degree facilitates networking opportunities. Featuring real-world data sets and developed in close conjunction with employers, the undergraduate degree includes courses in auditing, business law, income taxation, cost accounting, economics, and statistics. In addition to required courses, students must take 28 credits in elective and/or minor coursework, including Principles of Microeconomics.
While pursuing the online bachelor’s degree in accounting, students will learn how to create reports and conduct disclosure analysis as well as perform a range of functions, including financial reporting and auditing, to manage finances for agencies and organizations. Students will also use current analytical tools and technology to facilitate decision-making and work collaboratively, and they will employ problem-solving, critical thinking, and analysis to validate, test, and identify financial data, system, and processes.
The Master of Science in Accounting at UMUC is designed to help prepare students as they move toward organizational leadership positions such as Chief Financial Officer. The program is ideal for financial managers, accountants, and other mid-career professionals as it provides them with the competencies and knowledge needed to make high-level decisions that ultimately impact their organizations’ financial futures and current operations.
Courses in the master’s degree are offered fully online and feature analysis of real-time data sets, studies of real crises, and projects for real organizations and companies. Additionally, a board of employers and industry leaders advises the program’s faculty to ensure the graduate programs are relevant to students’ career growth and are covering emerging areas. Students will learn how to handle ethical problems, perform financial analysis and modeling, evaluate investments using industry software, manage costs and risks, and incorporate international opportunities and contexts into their planning.
The master’s degree curriculum includes an orientation to graduate studies at UMUC as well as core courses in strategic financial management, behavioral finance, investment valuation, and long-term financial management. Students will also develop their knowledge of federal income taxation, auditing, financial accounting, and financial decision-making for managers. Students must round out their degree with two additional courses such as international accounting, accounting ethics, fraud examination or government and not-for-profit accounting. The degree culminates in an accounting and financial management capstone course.
In order to succeed in the master’s program, UMUC recommends that students have familiarity with Microsoft Excel as well as a background in accounting or finance. However, if students are coming from another discipline, the university suggests the zero-credit Introduction to Accounting & Financial Management course to help provide foundational knowledge necessary for the understanding of more in-depth courses.
University of Maryland University College Accreditation Details
The University of Maryland University College is regionally accredited by the Middle States Commission on Higher Education (MSCHE). To receive regional accreditation, a school must pass a peer review by administrators and faculty from similar institutions. Accreditation is a sign of credibility as it indicates a school of institutional quality. Once a university opens itself up to outside examination, an accrediting body reviews certain criteria and standards and offers suggestions for self-improvement in order for the school to continue to meet its expectations of high-quality academics, programs, and faculty, among other factors.
University of Maryland University College Application Requirements
New students must first complete UMUC’s online application and provide a copy of their transcripts from all previously attended institutions, including high school, and pay the $50 nonrefundable application fee. The school institutes an achievement-based, streamlined process that does not require students to submit ACT, SAT, GMAT, or GRE scores for most degrees. If a student has a GED or a high school diploma or if he or she has graduated from an accredited U.S. university or college, he or she qualifies for admission to the Undergraduate School. Students who hold a bachelor’s degree from an accredited degree-granting college or university qualify for admission to the Graduate School.
Tuition and Financial Aid
In-state students pursuing a bachelor’s degree in accounting will pay $294 per credit for a total tuition of $35,280, while out-of-state students will pay $499 per credit for a total tuition of $59,880. In-state residents pursuing a graduate degree in accounting will pay $458 per credit for a total tuition of $16,488, while out-of-state students will pay $659 per credit for a total tuition of $23,724. The University of Maryland University College offers an interest-free monthly payment plan, financial aid, and more than 100 scholarships to eligible students. The first step in determining whether a student will qualify for financial aid is to complete the Free Application for Federal Student Aid (FAFSA). The University of Maryland University College is also a top-ranked veteran- and military-trusted school, and veterans, active servicemembers, and their dependents can take advantage of reduced tuition rates, credit for military training and experience, and other education benefits.