Finance and Accounting Degrees Offered at University of Maryland-University College
University of Maryland University College is also featured in our ranking of the Top 25 Most Affordable Online Bachelor’s in Accounting.
The University of Maryland-University College (UMUC) offers affordable degrees that are all completely online including a variety of accounting and finance programs through their Business and Management Division. At the undergraduate level, bachelor’s degrees require a total of 120 credit hours, and degrees in both accounting and finance require courses in microeconomics, macroeconomics, statistics, and accounting principles along with general requirements. Both tracks include an additional 30 hours of specific coursework within the major. For the accounting program, students complete classes like Auditing Theory and Practice, Fraud and Forensic Accounting, Federal Income Tax, and Accounting for Government and Not-for-Profit Organizations which provide a comprehensive foundation in the field. Finance students also need an additional 30 core credit hours which include Investments, Risk Management, Financial Analysis, and International Finance. The main difference between these two programs is that accounting focuses more on day-to-day cash flow and operational processes, whereas finance is concerned with the long-term overall financial standing and investment strategy of an organization.
At the graduate level, there are four related master’s programs that each require a total of 36 credit hours with the completion of a capstone project in order to graduate. The Accounting and Financial Management degree prepares students for leadership roles by incorporating both theoretical and practical learning methods. Coursework covers advanced accounting methods in areas like auditing and taxation and also includes techniques related to financial strategy, forecasting, and long-term investment planning. UMUC offers another related program leading to a master’s degree in Accounting and Information Systems which consists of many of the same courses. This program especially emphasizes the technology aspect of the accounting field through classes like Cyber Accounting: Management and Compliance and Cyber Forensics in Accounting.
The final two tracks result in the Master of Science in Management degree. All students must complete the three core classes consisting of Organizational Theory and Behavior, Financial Decision Making for Managers, and Statistics for Managerial Decision Making. Then, they can choose a specialty, either accounting or financial management, and take their remaining classes covering advanced concepts in one of these areas. All of the accounting and finance programs at the University of Maryland-University College help prepare students to test for a few different professional licenses leading to titles like Certified Professional Accountant, Certified Internal Auditor, Enrolled Agent, or Certified Fraud Examiner among others.
About the University of Maryland-University College
UMUC has its headquarters in Adelphi, Maryland, but the vast majority of available degree programs are offered completely online with the exception of hybrid options offered on satellite campuses and military bases throughout the world. The school began in 1920 as an extension of the College Park campus in order to offer evening courses to adult learners. This mission continued even as the school became an independent campus within the University System of Maryland. Throughout its history, the school has had a variety of different names with a planned future change to the University of Maryland-Global College during 2019. Today, the school enrolls over 90,000 students worldwide in over 50 degree programs. As reported by Forbes, UMUC is ranked the third-best in the United States for students returning to school after a hiatus.
University of Maryland-University College Accreditation Details
The Middle States Commission on Higher Education (MSCHE) is responsible for verifying that colleges and universities in a five-state region meet certain quality benchmarks. The MSCHE first provided accreditation to UMUC in 1946, and the school has maintained this certification since then with its most recent review completed in 2016. Each review cycle consists of multiple campus visits, peer reviews, and reports. These evaluations focus on educational aspects of the university with categories like Educational Effectiveness Assessment, Design and Delivery of the Student Learning Experience, and Support of the Student Experience. In addition, the MSCHE looks at other institutional characteristics and policies in the areas of Governance, Leadership, and Administration, Mission and Goals, and Planning, Resources, and Institutional Improvement. Regional accreditation evaluates the university as a whole, but there are also other organizations that certify specific programs and departments. For instance, the business administration program at UMUC is accredited by the International Accreditation Council for Business Education.
University of Maryland-University College Application Requirements
UMUC offers 11 different start-dates throughout the year for undergraduate enrollment. Once prospective students have chosen a date, they need to submit an online application along with official high school transcripts or documentation showing completion of the GED. This is the only requirement for undergraduate admission. If a student has completed at least 24 hours of college credit at another institution, college transcripts must be sent instead of those from high school. Transfer students need a GPA of at least 2.0 for full admission, but those with a lower score can still be provisionally admitted. For prospective master’s students, there are eight start dates annually. To gain admission, students just need to demonstrate the completion of an undergraduate degree. Accounting applicants also must have successfully passed 15 hours of accounting coursework, and it is recommended that finance students have a foundation in statistics.
Tuition and Financial Aid
Since the University of Maryland-University College is a public school, tuition rates vary based on the state of residency. For Maryland residents, undergraduate tuition is $300 per credit hour, and the graduate rate is $480 per hour. Out-of-state students can expect to pay $499 and $659 per credit hour for bachelor’s and master’s courses respectively. Military members along with their spouses and children qualify for reduced rates bringing costs down to $250 and $480 regardless of the state of residency. Discounts are also available for federal employees. In addition, graduates from Maryland community colleges are automatically eligible for a Completion Scholarship which guarantees that they can complete their bachelor’s degree for less than $12,000. There over 100 other scholarships and grants awarded by the university including the JBLM Graduate Scholarship, UMUC Foundational Scholarships, and the UMUC NE Tri-State Scholarship. Since much of the student body consists of adults returning to school, many students continue working their previous jobs and take advantage of employer-sponsored tuition assistance programs. The University of Maryland-University College works hard to ensure that all students with the desire to attend have the financial resources to graduate.