The colleges and universities of Maine offer a wide variety of programs in accounting. Schools may offer undergraduate and graduate degrees in accounting with various areas of specialization. Students can choose from full-time, part-time, or online formats, and some schools promote internship opportunities and other real-world experiences. Read on below to find out more information about specific accounting programs, professional accountancy certifications, and the outlook for accounting careers in Maine.

Table of Contents

Comparison of Maine Accounting Schools and Programs

The table below provides detailed information on not-for-profit accounting programs in Maine to help you compare your options. Programs that appear in bold text offer hybrid or online options.

SchoolAccreditationAccounting Degree(s)Acceptance Rate10Grad Rate1Avg Net Price1Median Debt*10Median Earnings 10 Years After Entry**10
Husson UniversityIACBEBS-Accounting;
UG Cert-Accounting;
5-Year Accelerated
BS-Accounting/MBA		85.6%60%$19,978$27,000$43,102
Saint Joseph’s College of Maine—BSBA-Accounting;
MAcc		80.6%70%$29,625$27,000$48,562
Thomas College—BS-Accounting;
BS-Accounting & Financial Analysis;
BS-Forensic Accounting;
BS-Managerial Accounting;
BS-Public Accounting;
3+1 BSA/MBA-Accounting;
MBA-Accounting		N.Av.50%$22,070$24,250$41,735
University of Maine—BSBA-Accounting;
Minor-Accounting;
MBA-Accounting		96.5%55%$17,617$25,000$48,550
University of Maine at Augusta—BSBA-AccountingN.Av.23%$9,973$22,734$39,258
University of Maine at Presque Isle—BA-Accounting;
BABA-Accounting		99.9%29%$9,104$16,000$28,114
University of Southern Maine—BSBA-Accounting;
Minor-Advanced Accounting;
UG Cert-Accounting		87.0%42%$12,343$19,060$49,735

Table Notes:
*Median Debt: The median debt is the cumulative federal loan debt, excluding PLUS loans, at the time of graduation for students who completed an undergraduate program (certificate, associate, or bachelor’s degree) as reported by College Scorecard for academic year 2020-2021 based on ​​National Student Loan Data System (NSLDS) data.
**Median Earnings 10 Years After Entry: Median earnings are the middle value of earnings, at which half earned more and half earned less, measured 10 years (2020-2021) after the first year of study (2010-2011) for all students, institution-wide, who received federal loans and who are employed but not enrolled in school. Note that this value includes those who completed their program of study as well as those who discontinued study without receiving an award.

Top-Ranked Accounting Schools in Maine

College rankings can be a useful tool to measure the overall reputation of a school or program. Weighing multiple rankings when evaluating your college choices can be helpful because different publishers may use different ranking factors in their methodologies. While the best program for your goals may rely on a combination of factors not typically considered in overall rankings, such as location or funding, seeing a program ranked on multiple lists can be a strong indication of reputation and academic quality.

US News & World Report’s Best Online Bachelor’s in Business Programs 2023

  • University of Maine (#44 tie)
  • University of Southern Maine (#63 tie)
  • University of Maine-Augusta (#79 tie)5

Highest First-Time CPA Exam Pass Rate with a Bachelor’s Degree

The National Association of State Boards of Accountancy (NASBA) releases a report including data on candidate performance on the Uniform CPA Exam.11 The following schools had the highest first-time CPA exam pass rates in Maine in 2019 (the most recent report available*) for candidates with a bachelor’s degree, with the overall pass rate for first-time test-takers in Maine being 49.6%:

  1. University of Maine 63.2%
  2. University of Southern Maine 63.2%
  3. Thomas College 45.5%

*As NASBA makes significant changes to the CPA Exam as part of the CPA Evolution initiative, new candidate score reports by state are not anticipated until at least mid-2024.

Schools in Maine with Accounting Degrees

To give you an idea of the breadth and depth of accounting degrees offered in Maine, we have profiled select programs below. Be sure to visit the websites of programs of interest for more detailed information on courses, admissions requirements and deadlines, and faculty.

Graduate Accounting Programs

Thomas College

The Business and Management Department at Thomas College offers a Master of Business Administration (MBA) with an emphasis in Accounting. This 33-credit degree prioritizes career-focused curriculum and leadership development, preparing graduates for careers in financial management or as public accountants. Core courses include Advanced Fraud and Forensics; Operations Research Techniques; and Advanced Financial Statement Reporting. In an effort to provide plenty of experiential learning opportunities, all MBA classes are limited to a small-group format. Students can complete this accelerated degree in as little as a year, and graduates are prepared to sit for the CPA exam. Undergraduate students at Thomas College enrolled in the Bachelor of Science (BS) in Accounting program maintaining a 3.4 GPA have the option to accelerate their MBA even more. The 3+1 program at Thomas College allows high-performing students to complete their BS in Accounting in three years and their MBA in Accounting during their fourth year, making it possible to complete both degrees in just four years.

University of Maine

The Maine Business School at the University of Maine (UMaine) offers a Master of Business Administration (MBA) in Accounting. This degree is open to accounting and non-accounting students. Those without an accounting degree can complete the necessary foundational coursework through UMaine’s distance learning classes. The MBA consists of eight advanced accounting courses that make up the core curriculum, including Tax Planning for Small Business Owners; Accounting Theory & International Accounting; and Advanced Managerial Accounting. Students then choose three electives to complete their degree requirements. Both the elective and required courses emphasize accounting principles and management techniques. The graduate curriculum also focuses on research skills, critical thinking techniques, and problem-solving methods. Many graduates go on to work in accounting roles in small businesses, startup companies, corporations, governmental agencies, and not-for-profit organizations.

Online Accounting Programs

Saint Joseph’s College of Maine

Saint Joseph’s College of Maine (SJC) offers a Master of Accountancy (MAcc) degree that can be completed entirely online. This program is ideal for individuals interested in the CPA examination, and the curriculum meets the educational requirements for the professional designation. Students learn advanced accounting knowledge as well as integrative skills in critical thinking, communication, and collaboration. The online coursework draws from projects, real-world examples, and case studies. Students learn how to apply concepts and technical skills in solving accounting problems, and there is an emphasis on topics of research, taxation, auditing, and finance. Those without an undergraduate degree in accounting are welcome to apply, but may need to complete some prerequisite accounting courses before being accepted into the program. Students with an accounting background may finish this program in an accelerated format in just one year.

Maine CPA Requirements and Steps

The Maine Board of Accountancy (the Board) requires that CPA candidates complete at least 150 semester hours and at least a bachelor’s degree. There are six main steps to complete in order to earn a CPA license in Maine.

  1. Complete 150 semester hours of college-level coursework in accounting.
  2. Accumulate the required hours of experience.
  3. Pass the Uniform CPA Examination.
  4. Pass the AICPA Ethics Exam.
  5. Apply for a license.
  6. Receive a license.

1. Complete 150 semester hours of college-level coursework in accounting.

Like most states, Maine follows the 150-semester hour rule for CPA licensure. This means that candidates for licensure must complete at least 150 semester hours of post-secondary coursework to apply for a CPA license. The education must include a bachelor’s degree or higher and at least 15 credit hours in qualifying accounting coursework, of which at least three must be in auditing and attestation. Qualifying accounting areas for licensure include courses in:

  • Accounting information systems
  • Accounting research and analysis
  • Auditing and attestation services
  • Ethics relevant to the practice of public accounting
  • Financial accounting and reporting for business organizations
  • Financial accounting and reporting for government and not-for-profit entities
  • Financial statement analysis
  • Fraud examination
  • Internal controls and risk assessment
  • Managerial or cost accounting
  • Tax research and analysis
  • Taxation

2. Accumulate the required hours of experience.

Prospective Maine CPAs must accumulate at least two years of professional accounting experience under the supervision of a licensed CPA. Full- or part-time experience can qualify, with part-time experience being counted as 2,080 work hours equaling one year and 173 hours equaling one month. Qualifying work experience must involve the use of accounting or auditing skills, the issuance of reports and involve one or more of the following duties: the provision of management advisory services; financial advisory services or consulting services; the preparation of tax returns; or the furnishing of advice on tax matters.

3. Pass the Uniform CPA Examination.

Prospective CPAs in Maine are eligible to sit for the required exam once they have completed a bachelor’s degree. The National Association of State Boards of Accountancy (NASBA) handles the application and testing process for Maine applicants to the American Institute of CPAs (AICPA) Uniform CPA Exam. Registration for the exam is completed online through the NASBA website. All four sections of the exam must be passed with a score of 75 or greater within a 30-month rolling period beginning on the date that the first section is completed.

4. Pass the AICPA Ethics Exam.

The Board requires all CPA candidates to take and pass the AICPA Ethics course and exam. The course and exam can be ordered through the AICPA website. Note that candidates can take the course and exam before or after passing the Uniform CPA Exam.

5. Apply for a license.

CPA licenses are granted through the Maine Department of Professional and Financial Regulation and applied for using the online portal. Applicants should submit the application and all necessary fees along with the Verification of Work Experience form, which must be completed by the applicant’s work experience supervisor.

6. Receive a license.

Once the Board has received the license application and determined that all qualifications have been met, a license will be issued and the applicant may begin practice as a CPA.

CPA License Renewal and Continuing Education Information

Licenses in Maine must be renewed annually. CPAs must complete 40 hours of continuing professional education (CPE) per year and at least two hours of CPE in ethics every three years. Up to 20 hours of excess CPE may be carried over into the following year.

Career Opportunities for Accounting Graduates in Maine

Maine accounting grads may start careers in public, private, or government accounting. Statewide CPA firms such as Chasse & Company, Baker Newman Noyes, and BerryDunn may offer many different positions for graduates with an accounting degree and CPA licensure. Others may choose to start their own CPA firm or small consultancy. Graduates may also have the opportunity to work in accounting positions in large companies based in the state, such as WEX Inc. or Fairchild Semiconductor. Governmental agencies or nonprofits like hospitals or community organizations may offer roles in accounting as well.

Maine Accounting Salary and Jobs by Metro Area

Metro AreaAccountants & Auditors Employed12Average Annual Salary12
Bangor530$75,720
Dover-Durham NH-ME480$77,060
Portland-South Portland2,250$82,570
Portsmouth NH-ME1,060$88,540

Additional Resources

Top Accounting Firms for Graduates in Maine

  • Baker, Newman, Noyes Accountants & Advisors (BNN): A member of Baker Tilly International, Portland-based BNN is one of the largest independent CPA firms in Maine.
  • Berry Talbot Royer, Certified Public Accountants: A local accounting firm located in Falmouth, Berry Talbot Royer provides financial and accounting with an eye towards customer service.
  • Wipfli: Wipfli is a national firm with offices in Augusta and Portland with associates who specialize in fields such as nonprofits, healthcare, and technology.
  • BerryDunn: With offices in Portland and Bangor, BerryDunn is Northern New England’s largest accounting firm, offering accounting, assurance, and consulting services across a variety of industries.

Maine Accounting Associations

References:
1. National Center for Education Statistics: https://nces.ed.gov/collegenavigator/
2. College Factual Best Accounting Schools 2023: https://www.collegefactual.com/majors/business-management-marketing-sales/accounting/rankings/top-ranked/
3. The Princeton Review. The Best 382 Colleges 2023 Edition. Penguin Random House, 2022.
4. US News & World Report’s Best MBA Accounting Programs: https://www.usnews.com/best-graduate-schools/top-business-schools/accounting-rankings
5. US News & World Report’s Best Online Bachelor’s in Business Programs 2023: https://www.usnews.com/education/online-education/bachelors/online-bachelors-business-rankings
6. US News & World Report’s Best Undergraduate Accounting Programs: https://www.usnews.com/best-colleges/rankings/business-accounting
7. Association to Advance College Schools of Business, Accredited Universities and Schools, Business & Accounting: https://www.aacsb.edu/accredited
8. Accreditation Council for Business Schools and Programs, Accredited Schools, Separate Accounting: https://acbspsearch.org/
9. International Accreditation Council for Business Education, Members: https://iacbe.org/accreditation/member-status-information/
10. Department of Education College Scorecard: https://collegescorecard.ed.gov/data/
11. The NASBA Candidate Performance Report, 2019 University Edition: https://nasbareport.com/
12. Bureau of Labor Statistics, Occupational Employment Statistics, May 2022 State Occupational Employment and Wage Estimates, Maine: https://www.bls.gov/oes/current/oes_me.htm