Accounting Schools in Vermont
This guide to master’s in accounting schools in Vermont will help you find the best educational match for your career goals and future salary expectations. Because the universities and colleges in Vermont offer a limited number of degrees and programs in accounting, prospective students may wish to consider programs offered in neighboring states such as New York, New Hampshire, and Massachusetts, or online or distance education around the country, which some students find to be a better match to their needs in higher education. Read on to learn more about the master’s in accounting schools in Vermont as well as how to become a Certified Public Accountant (CPA) and the salary and career outlook in the state for accounting professionals.
- There are 7 colleges and universities with accounting degree programs in Wyoming.1
- 2 schools offer a master’s or advanced degree in accounting.1
- No schools were ranked in Forbes’ Best Business Schools 2019.2
- No schools were ranked in the Princeton Review’s Great Schools for Accounting Majors 2020.3
- No schools were ranked in the Public Accounting Report’s 2019 Top 50 Master’s Accounting Programs.4
- No schools were ranked in US News & World Report’s Best MBA Accounting Programs 2021.5
- 1 school had a 2018 CPA exam pass rate at or above the national average of 51.9%.6
- 1 university and business school is accredited by the Association to Advance Collegiate Schools of Business (AACSB) International.7
- 1 school is accredited by the Accreditation Council for Business Schools and Programs (ACBSP).8
- No schools are accredited by the International Accreditation Council for Business Education (IACBE).9
For not-for-profit colleges and universities with accounting degree programs.
Table of Contents
- Steps to Become a CPA in Vermont
- Vermont CPA Salary and Job Outlook
- Vermont Master’s in Accounting Program Comparison
- Schools in Vermont with Master’s in Accounting Programs
- Additional Resources
- Frequently Asked Questions
Steps to Become a CPA in Vermont
The Vermont Board of Public Accountancy (the Board) of the Secretary of State’s Office of Professional Regulation (OPR) oversees the process for becoming a Certified Public Accountant in the state. There are six main steps to complete in order to earn a CPA license in Vermont.
- Complete 150 semester hours of college-level education in accounting.
- Accumulate the required hours of experience.
- Complete a four-hour ethics course and exam.
- Pass the Uniform CPA Examination.
- Apply for a license.
- Receive a license.
1. Complete 150 semester hours of college-level education in accounting
Prospective Vermont CPAs must first complete at least150 semester hours of education that includes the award of at least a bachelor’s degree and a minimum of 42 semester hours of accounting, auditing, and related coursework.
2. Accumulate the required hours of experience.
The Vermont Board of Public Accountancy requires CPA applicants to complete at least one year of accounting experience. The year of experience must be completed not more than four years before completing the Uniform CPA Exam and not more than four years following completion of the exam. The work experience must be supervised by a currently licensed CPA and include non-routine accounting experience.
3. Complete a four-hour ethics course and exam.
An approved four-hour course in professional ethics must be passed, which may be based on Vermont law or the AICPA Code of Conduct. The course and exam must be taken within two years of applying for a license.
4. Pass the Uniform CPA Examination.
The American Institute of Certified Public Accountants (AICPA) Uniform CPA Exam is a license requirement for CPAs in all 50 states. The Vermont Board of Public Accountancy uses the National Association of State Boards of Accountancy (NASBA) to process applications to the Uniform CPA Exam. Prospective licensees who are ready to take the exam may begin the application process through the NASBA website. All four sections of the exam must be passed with a score of at least 75 within an 18-month rolling period. In Vermont, students who do not yet have a bachelor’s degree and who have not yet met the 150-hour requirement for licensure may sit for the CPA Exam as long as they have completed at least 120 hours of college-level education with 30 semester hours of coursework including:
- At least six hours in financial accounting beyond the introductory level
- At least three semester hours in auditing
- At least three semester hours in US income tax
- At least three semester hours in US business law
5. Apply for a license.
Once a candidate has passed the Uniform CPA Exam and the Board has received the candidate’s scores from NASBA, the candidate can apply for a license through the Board’s website. Candidates will need to include the Supervised Experience Form along with their application. Note that applicants must apply for a license within four years of passing the Uniform CPA Exam.
6. Receive a license.
After all the above steps have been completed and the Board has received the application and exam scores, applicants will receive their CPA license to practice in Vermont.
CPA License Renewal and Continuing Education Information
After obtaining a license, Vermont CPAs must complete 80 hours of continuing professional education (CPE) during each biennial renewal period, and four of these hours must be in ethics. You can find additional information on the Board’s website.
Vermont Accountant Salary and Job Outlook
According to the Bureau of Labor Statistics (BLS), accountants in Vermont earn an average salary of $74,640 per year.10 Approximately 2,610 accountants and auditors currently work in the state and close to half work in the Burlington metro area.10 The northern Vermont nonmetropolitan area has the third-highest concentration of accountants and auditors in the country.11 Demand for accountants is expected to grow by 4% through 2028, which is slower than the nationwide projection of 6.4%.12
Vermont CPA Salary by Metro Area
|Metro Area||Number Employed10||Average Annual Salary10|
|Southern Vermont nonmetropolitan area||690||$72,610|
|Northern Vermont nonmetropolitan area||750||$70,320|
Vermont Master’s in Accounting Program Comparison
Below we have compiled a table including information about all not-for-profit Vermont colleges and universities offering a master’s degree in accounting. The graduation rate is for first-time undergraduates seeking a bachelor’s degree, but since it is widely considered to be an indicator of a school’s overall success, we have included it for comparison. Also please note that tuition per credit is based on in-state, on-campus tuition; per-credit rates may vary for out-of-state and online students.
|School Name||Accreditation||CPA Exam Pass Rate6||Master’s in Accounting Degree(s)||Acceptance Rate13||Grad Rate1||Online Options?||Tuition per Credit|
|Norwich University||ACBSP||N.Av.||Master of Accounting (MACC)||N.Av.||61%||Yes||$850|
|University of Vermont||AACSB||76.9%||Master of Accountancy (MAcc)||N.Av.||77%||—||$683|
- — indicates none.
- N.Av. indicates no data available.
Master’s in Accounting Programs in Vermont
University of Vermont
The University of Vermont offers a 30-credit Master of Accountancy (MAcc) program that is designed to be completed in nine months for students with an undergraduate degree in accounting and two years for those with another undergraduate major. The University of Vermont’s program emphasizes critical thinking and problem-solving skills as well as acumen in accounting, taxation, auditing, and business, while preparing students to take the Uniform CPA Exam upon graduation. Graduates are prepared to enter the field of professional accounting through such courses as Accounting Research, Regulation & Ethics, Forensic Accounting & Auditing, and Governmental and Not-for-Profit Accounting. Class sizes for the program are small and range from six to 35 students and most classes take place during the day in three-hour blocks. Guest speakers are periodically invited to speak to students about career development. A new accelerated MAcc program allows current University of Vermont accounting undergraduate students to take up to nine credit hours of MAcc coursework in their senior year. Many program graduates have gone on to work in assurance and tax services for widely recognized national and multinational accounting firms including the Big Four as well as regional firms in Vermont.
At Norwich University, students can pursue a Master of Accounting (MACC) that can be completed 100% online. Two concentrations are offered for MACC students at Norwich, one in General Accounting and one in Forensic Accounting. Both programs require a one-week residency at the end of the program. Courses in the General Accounting Concentration include Federal Income Tax for Corporations, International Accounting Standards, and Contemporary Topics in Accounting, while the Forensic Accounting Concentration includes specialized coursework like Fraud Examination and Civil Litigation for Accountants. In addition to the concentration options, two tracks are also offered to provide students with the most tailored experience. An Advanced Standing Track is available to students who have an undergraduate degree in accounting or extensive professional experience in the field; this track comprises 10 courses (30 credit hours) and takes as few as 15 months to complete. A Full Track is designed for career-changing students and those whose bachelor’s degree is in a non-business field; this track comprises 14 courses (42 credit hours) and can be completed in as few as 21 months. Both tracks prepare students to sit for the Uniform CPA Exam and are designed to fulfill the 150-hour requirement. To be admitted, no GRE or GMAT scores are required and an undergraduate GPA of at least 2.7 is preferred. Graduates of the Norwich program have obtained positions as auditors, financial planners and managers, accountants, and budget directors.
Top Accounting Firms for Graduates in Vermont
- Gallagher, Flynn & Company LLP (GFC): GFC is one of the largest CPA firms in northern New England with offices in South Burlington, Vermont, and Lebanon.
- McSoley McCoy & Co.: One of the premiere accounting firms in northern New England that boasts big city accounting firm resources with a one-on-one personal touch.
- Davis & Hodgdon Associates CPAs: Services clients from many industries and specializes in the non-profit sector.
Vermont Accounting Associations
- Vermont Society of Certified Public Accountants (VTCPA): Member-driven organization serving close to 800 CPAs in a variety of industries across the state.
- Vermont Board of Public Accountancy: Part of the Secretary of State’s Office of Professional Regulation (OPR), the Vermont Board of Public Accountancy provides oversight and enforcement of the profession of accounting in the state.
Frequently Asked Questions
How long does it take to become a CPA in Vermont?
Becoming a CPA in the state of Vermont will likely take a minimum of five years from the start of the bachelor’s degree program. Most bachelor’s degree programs are comprised of 120 semester hours and take four years of full-time study to complete; Vermont requires 150 semester hours of college-level education to become a CPA, which is 30 credit hours beyond the bachelor’s degree. In addition, prospective CPAs in Vermont must work in the field for at least one year under the supervision of a licensed CPA and pass both the Uniform CPA Exam and four-hour professional ethics course and exam. For candidates who are able to focus full time on the requirements, becoming a CPA will likely take five to six years starting with the bachelor’s degree. For others who are working or otherwise busy while pursuing licensure, the process may take longer.
How much do CPAs make in Vermont?
According to the BLS, Vermont accountants and auditors, including CPAs, earn an average of $74,640 per year, which is lower than the national average of $79,520.10 Accountants and auditors in the Burlington metro area earn even more, at an average of $78,700 per year.10
1. National Center for Education Statistics College Navigator: https://nces.ed.gov/collegenavigator/
2. Forbes Best Business Schools 2019: https://www.forbes.com/business-schools/list/2/
3. The Princeton Review. The Best 385 Colleges, 2020 Edition. The Princeton Review, 2019.
4. Public Accounting Report 2019 Top 50 Master’s Accounting Programs: https://wpcarey.asu.edu/sites/default/files/documents/par-grad-2019.pdf
5. US News & World Report Best MBA Accounting Programs 2021: https://www.usnews.com/best-graduate-schools/top-business-schools/accounting-rankings
6. National Association of State Boards of Accountancy. The NASBA Report on the CPA Exam: Candidate Performance on the Uniform CPA Examination, 2018 Edition. National Association of State Boards of Accountancy, Inc., 2019.
7. Association to Advance Collegiate Schools of Business (AACSB) International: https://www.aacsb.edu/
8. Accreditation Council for Business Schools and Programs (ACBSP): https://acbsp.org/
9. International Accreditation Council for Business Education (IACBE): https://iacbe.org/
10. Bureau of Labor Statistics, Occupational Employment Statistics, May 2019 State Occupational Employment and Wage Estimates, Vermont: https://www.bls.gov/oes/current/oes_vt.htm
11. Bureau of Labor Statistics, Occupational Employment Statistics, May 2019 Occupational Employment and Wages, Accountants and Auditors: https://www.bls.gov/oes/current/oes132011.htm
12. Projections Central, Long Term Occupational Projections: https://projectionscentral.org/Projections/LongTerm
13. US News & World Report Best Business Schools 2021: https://www.usnews.com/best-graduate-schools/top-business-schools