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Accounting Schools in Maine

Accounting as a profession involves recording, organizing, analyzing, and reporting on the finances within a business or organization, or for individuals. Managing budgets and balancing costs with revenue are essential for all types of business. In turn, individuals with a degree in accounting may be able to find career paths in a wide variety of industries, from the private sector to nonprofit organizations, government organizations to accounting firms.

However, graduates of accounting schools in Maine are not relegated only to careers as accountants. Completing a degree program in accounting could prepare prospective professionals for a diverse range of careers such as budget analyst, financial analyst, credit analyst and more. Depending on the school or university, students can select from different accounting degree programs, including certificate, associate and bachelor's degrees. Some universities may also offer a master's degree in accounting.

Maine Schools: Accounting Programs

The National Center for Education Statistics lists the following Maine colleges as having one or more programs in the following areas (as of 2013): accounting, auditing, accounting and business management, accounting and finance, and accounting technology and bookkeeping.

Name

City

School Website

University Type

Net Price (2011-2012)

Beal College

Bangor

www.bealcollege.edu/

2-year, Private for-profit

$12,644

Central Maine Community College

Auburn

www.cmcc.edu

2-year, Public

$8,551

Husson University

Bangor

www.husson.edu

4-year, Private not-for-profit

$15,802

Kaplan University-Augusta Campus

Augusta

online.kaplanuniversity.edu/Pages/Homepage.aspx

4-year, Private for-profit

NA

Kaplan University-Maine Campus

Portland

portland.kaplanuniversity.edu/Pages/Homepage.aspx

4-year, primarily associate's, Private for-profit

$14,024

Kennebec Valley Community College

Fairfield

www.kvcc.me.edu

2-year, Public

$8,356

Northern Maine Community College

Presque Isle

www.nmcc.edu

2-year, Public

$8,470

Saint Joseph's College of Maine

Standish

www.sjcme.edu

4-year, Private not-for-profit

$25,290

Thomas College

Waterville

www.thomas.edu

4-year, Private not-for-profit

$18,806

University of Maine

Orono

www.umaine.edu/

4-year, Public

$13,905

University of Maine at Augusta

Augusta

www.uma.edu/

4-year, Public

$7,832

University of Maine at Presque Isle

Presque Isle

www.umpi.edu/

4-year, Public

$10,359

University of Southern Maine

Portland

www.usm.maine.edu

4-year, Public

$18,177

York County Community College

Wells

www.yccc.edu

2-year, Public

$8,130

Source: National Center for Education Statistics, College Navigator, 2013, http://nces.ed.gov/collegenavigator/

Certification and Licensing Requirements for Maine Accountants

Accountants who file reports with the Securities and Exchange Commission must be Certified Public Accountants (CPAs), which means they have passed the professional exam and obtained a license. The Maine Board of Accountancy states that licenses for CPAs in Maine expire on September 30, and annual renewal is required. The state's accountancy board reports various qualifying criteria for the CPA examination, including completion of at least a bachelor's degree program within 120 days following examination and studies including at least 15 total hours of accounting, auditing and ethics.

Maine.gov explains licensure requirements for CPAs in the state. Below are some example requirements:

  • Successful completion of the CPA exam
  • At least 150 semester hours of education: a minimum 4-year bachelor's degree or higher from a board-approved college or university, with studies in accounting and auditing
  • Two years of public accounting work experience with at least 200 hours in advisory services and 400 hours in audit, review and compilation

Local professional organizations include the Maine Society of Certified Public Accountants, which places an emphasis on serving the public while helping its members succeed professionally in accounting careers in Maine.

Career Opportunities for Graduates of Accounting Schools in Maine

Accountants and auditors working in Maine generally need at least a bachelor's degree in accounting or a related discipline, according to the Bureau of Labor Statistics, and post-secondary education may broaden career options for bookkeeping, accounting and auditing clerks. In 2012, Maine was home to 370 tax examiners or collectors and revenue agents, along with 170 budget analysts and 470 insurance underwriters. Specialized occupations such as these within the area of business and finance may require additional training or experience.

Graduates with accounting degrees in Maine should consider pursuing potential career paths in with accounting firms in the state. As of 2012, Mainebiz ranked the following as the largest accounting firms in Maine, based on 2011 revenue: BerryDunn, Baker Newman Noyes, and Macdonald Page & Co. (now called Macpage). Other accounting firms in Maine include but are not limited to the following:

Accounting Firms in Maine

City

Website

Coston & McIsaac

Bar Harbor

www.costonandmcisaac.com

Achramowicz & Johnson

Waterville

www.az-cpa.com

Haverlock, Estey & Curran, LLC

Hampden

www.heccpa.com

Loiselle, Goodwin & Hinds

Bangor

www.lghcpa.com

Otis & Atwell CPA

Portland

www.otisatwell.com

Smith & Associates CPA

Yarmouth

www.smithassociatescpa.com

Edwards, Faust & Smith

Bangor

www.efscpa.com

J. Thomas Hicks & Associates

Brewer

www.keepmorepayless.com

Employment Outlook for Accounting Careers in Maine

The Maine Department of Labor projects the following rates of employment growth between 2010 and 2020 for major financial careers:

  • Accountants and auditors: 9.76 percent
  • Budget analysts: 12.26 percent
  • Tax preparers: 10.33 percent

Here are some examples of potential earnings and career options for graduates of accounting schools in Maine:

Occupation

Mean Annual Wage, Maine (May 2012)

Mean Annual Wage, United States (May 2012)

Projected State Employment Growth, 2010 - 2020

Projected National Employment Growth, 2010 - 2020

Accountants and Auditors

$60,860

$71,040

9.8%

16%

Financial Analysts

$69,000

$36,640

11.4%

36%

Budget Analysts

$59,500

$72,100

12.3%

10%

Credit Analysts

$51,750

$69,500

10.2%

23%

Sources:Bureau of Labor Statistics: Employment Projections, 2012; Bureau of Labor Statistics: Occupational Employment and Wages, 2013; Maine Center for Workforce Research and Information

* Salaries and employment opportunities may vary based on experience, education, location and other factors.

Sources:

2010-2020 Employment Projections, Center for Workforce Research and Information, Maine.gov

http://www.maine.gov/labor/cwri/outlook.html

Accountants and Auditors, Bureau of Labor Statistics, 2012

http://www.bls.gov/ooh/Business-and-Financial/Accountants-and-auditors.htm

Accountants and Auditors, Occupational Employment and Wages, Bureau of Labor Statistics, 2013

http://www.bls.gov/oes/current/oes132011.htm

Bookkeeping, Accounting, and Auditing Clerks, Bureau of Labor Statistics, 2012

http://www.bls.gov/ooh/office-and-administrative-support/bookkeeping-accounting-and-auditing-clerks.htm

Budget Analysts, Bureau of Labor Statistics, 2012

http://www.bls.gov/ooh/business-and-financial/budget-analysts.htm

Certified Public Accountant, Office of Professional and Occupational Regulation, Maine.gov, 2013

http://www.maine.gov/pfr/professionallicensing/professions/accountants/cpa.htm

Maine's largest accounting firms, Data Center, Mainebiz, 2012

http://www.mainebiz.biz/SECTION/LISTS&template=lists?djoPage=view_html&djoPid=27130

Maine, May 2012 State Occupational Employment and Wage Estimates, Occupational Employment Statistics, Bureau of Labor Statistics, 2013

http://www.bls.gov/oes/current/oes_me.htm

Maine Society of Certified Public Accountants

https://www.mecpa.org/

Tax Examiners and Collectors, and Revenue Agents, Bureau of Labor Statistics, 2012

http://www.bls.gov/ooh/business-and-financial/tax-examiners-and-collectors-and-revenue-agents.htm

United States, May 2012 State Occupational Employment and Wage Estimates, Occupational Employment Statistics, Bureau of Labor Statistics, 2013

http://www.bls.gov/oes/current/oes_nat.htm

National Web Directory, Maine Accounting Firms

http://www.nationalwebdirectory.net/getcategory.php?state=Maine&category=accounting

College Navigator, National Center for Education Statistics, 2013

http://nces.ed.gov/collegenavigator/

National Employment by Occupation, Employment Projections, Bureau of Labor Statistics, 2012

http://bls.gov/emp/ep_table_102.htm

United States, May 2012 National Occupational Employment and Wage Estimates, Occupational Employment Statistics, Bureau of Labor Statistics, 2013

http://www.bls.gov/oes/current/oes_nat.htm