Studying Finance and Accounting at the University of Michigan – Dearborn
The University of Michigan – Dearborn appears in our ranking of the 50 Best Online Master of Finance Degree Programs.
The College of Business at The University of Michigan – Dearborn offers undergraduate and graduate degrees in both accounting and finance. The primary difference between these programs is that the former deals more with managing the flow of money in the short-term, while the latter focuses on overall wealth management and planning. At the undergraduate level, students work towards their bachelor of business administration (BBA) in their chosen major. Both the accounting and finance tracks begin with the 9-course business core which provides a foundation in the field and includes classes like Corporate Responsibility, Managerial Communications, and Project Management and Leadership Skills. Accounting students then take 21 hours in their major with the predetermined track covering cost analysis, taxation, auditing, and corporate finance, and the finance program consists of two required classes followed by five electives. In place of three of these electives, finance students can choose one of two concentrations, financial services or financial management.
Undergraduate students are encouraged to gain hands-on experience in their fields during their college years. The Accounting Aid Society is one service-learning opportunity through which students gain experience preparing tax returns for low-income individuals. In addition, students can join the Apprenticeship Program to help develop their leadership and communication skills in partnership with the Public Allies Metro Detroit AmeriCorps. Staff also help secure summer internships and assist graduates with their job search at the Internship and Career Management Center. Advanced students who wish to go straight to graduate school after their BBA can take advantage of UM-Dearborn’s 4+1 programs which allow students to take graduate classes during their senior year and finish both degrees in 5 years.
The Master of Science in Accounting requires 30 credit hours to graduate, including three student-selected electives, and prepares students for the certified public accounting examination. Students receive discounts on exam preparation materials as well as test fees through a university partnership with CPAexcel. The finance M.S. program also consists of 30 hours, and students choosing between the corporate finance or investments concentrations. While only the master’s in finance can be completed entirely online, many of the individual graduate accounting classes do have an online format available. At the graduate level, the UM-Dearborn’s master of business administration program is another option for students interested in accounting or finance. The MBA program allows students to choose a concentration in one of these fields or complete a dual MBA/M.S. degree. MBA courses can be taken completely online or on-campus and include nine core classes, followed by three concentration classes, and the Applied Integrated Management 4-course series culminating in a capstone project. Professors in these programs have professional experience in the industry and prepare students for their transition into professional life.
About The University of Michigan – Dearborn
Located in Dearborn, Michigan, part of the Detroit metropolitan area, the university opened as the Dearborn Center in 1959 as a response to a lack of qualified workers for the nearby Ford Motor Company. The arrangement was that Ford would donate the land and funding in exchange for the school focusing on solely on advanced engineering and business programs. They also set up a co-op system, so students would complete internships and projects for the company. Starting in 1971, the school shifted its priorities and became a four-year multidisciplinary university, and its population grew six-fold over the next decade. Today, over 9000 students enroll each year in over 100 degree programs, and while no longer exclusively partnering with Ford, its emphasis on experiential learning is one of the university’s defining features. According to the U.S. News and World Report, UM-Dearborn ranks 5th on the list of Top Public Schools in the Midwest and also received recognition on the list of best online graduate business programs in the country.
The University of Michigan – Dearborn Accreditation Details
The University of Michigan – Dearborn first received accreditation through the Higher Learning Commission (HLC) in 1970, and this was last reaffirmed in 2014. This signifies that the university meets all standards set by the HLC in regards to student experience, academic outcomes, business model, and resource management among others. One of the key requirements for accreditation renewal is that the school continues to engage in self-analysis and improvement projects. In addition to this credential, there are other professional organizations that evaluate and certify individual departments and degree programs. The Association to Advance Collegiate Schools of Business (AACSB) provides this service for business and accounting programs, and UM-Dearborn’s College of Business has earned accreditation for their undergraduate and graduate business programs including accounting and finance.
The University of Michigan – Dearborn Application Requirements
To apply for admission, freshmen applicants need to submit their application via the university’s portal and arrange for official high school transcripts and SAT or ACT scores to be sent to UM-Dearborn. After attaining admission to the university, prospective accounting and finance students enter as pre-business majors and need to complete 12 introductory business classes with at least a 2.8 GPA before gaining full admission to their program. College of Business prospective graduate students must submit transcripts demonstrating completion of an undergraduate degree and GMAT or GRE scores along with a completed application. The test requirement can be waived if an applicant has at least three years of professional experience. The requirements and application process is the same for all graduate programs, online and on-campus.
Tuition and Financial Aid
For Michigan residents, undergraduate tuition for the first 12 credit hours is $463 per hour and $101 for each additional hour with out-of-state students paying $953 for the first tier and $180 thereafter. Graduate students have a similar setup with the first eight credit hours costing $683 each for residents and $1176 for non-residents with subsequent credit hours at a rate of $392 or $764 depending on residency status. Online students pay the same tuition costs as on-campus students in the College of Business. After students submit their FAFSA, advisers are available to help determine eligibility for grants, work-study programs, and other forms of financial aid. In addition, The University of Michigan – Dearborn also offers quite a few merit-based scholarships at both the graduate and undergraduate levels.
