University of Maryland College Finance and Accounting Degree Program(s) Available
University of Maryland College Park appears in our ranking of the Top 40 Best Online MBAs in Finance.
According to the Bureau of Labor Statistics, positions for accountants and auditors are expected to grow by approximately 6 percent over the next decade. The average salary for this type of position in 2018 was $70,500 per year. Accountants and auditors prepare and examine financial records, a critical part of any business. In addition to accountants and auditors, there are many other jobs that an individual can qualify for with a degree in accounting and finance. The University of Maryland College Park offers several degrees in finance and accounting that prepare students for careers in this field.
The University of Maryland College Park through the Robert H. Smith School of Business offers an undergraduate degree in accounting that prepares students for entry-level positions in accounting. Students gain an understanding of the analysis, classification and recording of financial events as well as methods for reporting the information. The program also includes instruction in financial planning, budgeting, accounting systems, financial management controls, financial analysis of performance, reporting, taxation as well as internal and external auditing. The program is 120-credit hours. Students who want to take the Certified Public Accountant examination must meet certification requirements in the state where they plan to practice. Most states, including Maryland, require 150-credit hours to fulfill the education requirements. Some states, including Maryland, will allow a student to take the CPA examination with 120-credit hours if they have earned a degree. Some of the courses required for the degree include:
- Accounting Systems
- Advanced Accounting
- Advanced Auditing Theory and Practice
- Auditing Theory and Practice
- Business Finance
- Business Law
- Career Search Strategies in Business
- Ethics and Professionalism in Accounting
- Fraud Examination
- Government Accounting
- Intermediate Accounting I & II
- Introduction to Information Systems
- Managerial Accounting
- Managing People and Organizations
- Marketing Principles
- Principles of Accounting I & II
- Principles of Macroeconomics
- Principles of Microeconomics
- Strategic Management
- Taxation of Corporations, Partnerships and Estates
- Taxation of Individuals
The Master of Science in Accounting prepares students for leadership roles in the industry. The program produces highly-trained accounting professionals who are prepared for heightened accountability necessary for consulting, information management and strategic planning. Students gain an understanding of internal auditing necessary to meet rigorous accounting standards today. Students may specialize their studies in Tax, Internal Audit, Financial Regulation or Public Accounting. The program provides the 150-credit hours required in many states to sit for the CPA examination. Some of the courses required for the program include:
- Advanced Managerial Accounting and Control Systems
- Business Ethics for Accountants and Auditors
- Business Statement Analysis for Accountants and Auditors
- Data Driven Decision Making
- Essentials of Negotiation
- Financial Statement Analysis for Accountants and Auditors
- Forensic Accounting
- Systems for Data Analysis
The Bachelor of Science in Finance at the University of Maryland College Park prepares students for entry-level positions in the world of finance. The program familiarizes students with the institutions, theory and practice involved in allocation of financial resources in the private sector. It provides foundation study in economics and quantitative areas as well. Students gain an understanding of financial analysis, management, investment analysis, portfolio management, investment banking, insurance and risk management as well as banking and international finance. Courses that may be required for the degree include:
- Advanced Financial Management
- Banking and Financial Institutions
- Business Finance
- Business Law
- Career Search Strategies in Business
- Computational Finance
- Equity Analysis and Portfolio Management
- Fixed Income
- Futures and Options Contracts
- International Finance
- Introduction to Information Systems
- Investments
- Managing People and Organizations
- Marketing Principles
- Money and Banking
- Private Equity Fund
- Strategic Management
- Wall Street Finance
The Master of Finance is designed for those who wish to work with corporate assets, asset management, risk management and valuation. Students gain an understanding of tools used in these areas as well as an understanding of financial models, data analytics, asset management, risk management and corporate finance. Students also gain hands-on experiences through consulting projects or the student-run fund. They may choose from either the Financial Analysis and Risk or the Asset Management track. Some of the courses required may include:
- Big Data in Finance
- Capital Markets
- Derivative Securities
- Enterprise and Credit Risk Management
- Entrepreneurial Finance and Private Equity
- Financial Analysis and Modeling
- Financial Data Analytics
- Financial Engineering
- Financial Management
- Financial Restructuring
- Financial Strategy for Corporations
- Fixed Income Analysis
- Hedge Fund Management
- Institutional Asset Management
- International Investment
- Machine Learning in Finance
- Market Microstructure
- Portfolio Risk Management
- Quantitative Investment Strategies
- Text Mining for Economics and Finance
- Valuation in Corporate Finance
About the University of Maryland College Park
Established as the Maryland Agricultural College in 1856 by the legislature, the University of Maryland College Park’s initial mission was to provide education in agricultural and mechanical arts. The Riverside Plantation was chosen as the location for the school, purchased for $20,000 from Charles Benedict Calvert, the son of George Calvert, a wealthy planter in the area. Classes officially began in 1859 with 34 students. Of those students, four of them were the sons of Charles Calvert.
The school became a land-grant institution in 1862, adding education and military arts as part of the Morrill Act. After the Civil War, the school operated as a prep school due to significant financial difficulty. It reopened in 1867 after half-ownership was transferred to the state legislature who appropriated funding. The school still struggled until Augustine J. Smith took the office of president and encouraged farmers and state legislators as well as alumni to send their children to the school. Although his tactics did not work, the state legislature began to use the college for state-operated functions. Finally, a federally-funded agricultural experiment station led to the establishment of a college farm along with the Rossborough Inn to create the station.
In 1916, after the state took full control of the college, women were admitted and the name was changed to the Maryland State College of Agriculture. That name only lasted four years until the state renamed it the University of Maryland when the College Park and Baltimore campuses merged.
Today, the University of Maryland College Park is a highly-rated research university with an enrollment of more than 37,000 students. It is ranked 21st among public universities by U.S. News & World Report and 14th by Forbes Magazine. The Institute of Higher Education, which ranks the top universities based on research, ranks Maryland 38th in the world.
University of Maryland College Park Accreditation Details
The University of Maryland is accredited by the Middle States Commission on Higher Education. Accreditation indicates that the school has the resources to meet their goals and objectives. It also demonstrates to parents, students and employers that graduates have studied a rigorous curriculum and are well-prepared for positions in their field. In addition to university accreditation, specific programs at the college are accredited by the following organizations:
- Academy of Nutrition and Dietetics
- Accreditation Board of Engineering and Technology (ABET)
- Accreditation Council for Education in Nutrition and Dietetics
- Accrediting Council on Education on Journalism and Mass Communications (ACEJMC)
- American Assembly of Collegiate Schools of Business
- American Association for Marriage and Family Therapy
- American Library Association (ALA)
- American Psychological Association, Committee on Accreditation
- American Speech-Language-Hearing Association, Council on Academic Accreditation in Audiology and Speech-Language Pathology
- American Veterinary Medical Association, Council on Education
- Commission on Accreditation for Marriage and Family Therapy Education
- Council for Accreditation of Counseling and Related Educational Programs (CACREP)
- Council on Education for Public Health
- Council on Rehabilitation Education
- Institute of Food Technologists
- Landscape Architecture Accreditation Board (LAAB)
- Maryland State Department of Education (MSDE)
- National Architectural Accrediting Board (NAAB)
- National Association of Schools of Music, Commission on Accreditation
- National Association of Schools of Public Affairs and Administration
- National Council for Accreditation of Teacher Education
- Planning Accreditation Board
- Commission on English Language Program Accreditation
University of Maryland College Park Application Process
Undergraduate applicants must provide official high school transcripts as well as official ACT or SAT scores. Letters of recommendation and an essay are also required. All applications must be received by November 1 each year.
In order to apply for the Master of Science in Accounting, applicants must hold a bachelor’s degree or higher from an accredited college or university. They must submit official transcripts from all colleges or universities attended as well as official GRE or GMAT scores. Applicants must have completed an undergraduate managerial and financial accounting course with a B or better. One letter of recommendation, a professional resume, and an essay are also required.
In order to apply for the Master of Finance, applicants must hold a bachelor’s degree or higher from an accredited college or university. They must have a sufficient background in linear algebra and advanced statistics. Official GRE or GMAT scores must be submitted as well as official transcripts from all colleges and universities attended. Letters of recommendation, a professional resume, and an essay are also required.
University of Maryland College Park Tuition and Financial Aid
Undergraduate tuition is $367 per credit hour for Maryland residents and $1,456 per credit hour for non-residents. Graduate tuition is $1,182 per credit hour for residents and $2,076 per credit hour for non-residents.
Financial aid is available and students must complete the Free Application for Federal Student Aid (FAFSA) in order to qualify. All students should complete the FAFSA regardless of income as some assistance is merit-based rather than need-based. Undergraduate students may qualify for financial aid in the form of grants, scholarships, and work-study programs. Graduate students may qualify for assistance in the form of grants, scholarships, assistantships or fellowships. Loans may also be offered as part of the financial aid package.
The University of Maryland College Park is the University System’s flagship school and is considered one of the best research institutions in the world. It is a global leader in entrepreneurship, research, and innovation.
