May 24, 2018  
2008-2009 Graduate Catalog 
2008-2009 Graduate Catalog [ARCHIVED CATALOG]


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The Master of Science in Accounting (M.S.A.) is intended to provide students with the advanced training in accounting and business administration necessary to begin or enhance careers in the accounting profession. Elective courses in public administration, not-for-profit administration, and healthcare administration are offered for students who wish to pursue accounting careers in those fields. The program will provide a solid foundation in accounting concepts and practices related to auditing, financial reporting and analysis, federal tax research, reporting, and planning.

Students will also gain competencies in written and oral communication, team projects, critical thinking, and ethical reasoning. These skills will be emphasized in courses throughout the curriculum based on the recommendation of the American Institute of Certified Public Accountants (AICPA). In addition to producing graduates who are technically competent in accounting and other areas of business, the program will help students develop decision-making and analytical skills necessary for successful careers in business.

The case approach will be used in many classes and will integrate knowledge and skills students have acquired in other accounting, business, and non-business courses. The M.S.A. program currently consists of 30 graduate credits: 21 hours of core graduate courses, and 9 hours of graduate electives.

The following nine undergraduate courses are prerequisites to the MSA program. If similar courses have been taken at another institution, the applicant needs to provide a course syllabus for determining equivalencies.

• BUA 201 Principles of Accounting I
• BUA 202 Principles of Accounting II
• BUA 301 Intermediate Accounting I
• BUA 302 Intermediate Accounting II
• BUA 305 Cost Accounting
• BUA 310 Auditing
• BUA 312 Federal Taxation of Individuals
• ECO 120 Principles of Microeconomics
• ECO 121 Principles of Macroeconomics

(ECO 410 Introduction to Economics/Accelerated may be taken instead of ECO 120 and 121 This course is only open to students who already have an undergraduate degree.)

Students who do not present acceptable total credit for the above foundation courses may enroll as non-degree undergraduates to complete these courses prior to being admitted to the graduate school.

Candidates for the M.S.A. program must also have basic knowledge of management, marketing, finance, and statistics. This knowledge can be demonstrated by successfully completing college courses in these areas equivalent to BUA 350, BUA 325, BUA 370, and MAT 215. These four requirements may also be fulfilled by completing online tutorials coordinated through the business graduate office if appropriate courses have not been completed. Information about the tutorials is provided after a student is admitted.

Core Courses

All candidates for the Master of Science in Accounting program must complete the seven core graduate courses listed below.

Admission Requirements

Completed applications for fall admission must be received by June 1, and by November 1 for the spring semester. Completed applications for students requesting financial aid need to be received by the February 15 prior to fall semester.  We recommend that prospective students apply earlier if they anticipate needing to complete tutorials or foundation courses

More information about the MSA program and the application and admissions requirements can be found at

Admission to the University of Maine Master of Science in Accounting (MSA) program is competitive. In its admission process, the University of Maine Business Graduate Program considers factors that indicate the potential to successfully complete the MSA program and achieve positions of leadership in the private or public sector. That potential is judged by academic performance, GMAT score, letters of recommendation, communication skills, and work experience.

Academic Performance: Applicants must have a four-year U.S. bachelor’s degree from an accredited college or university, or a four-year international equivalent. In reviewing the academic record, the Graduate Committee considers both the institution attended and curriculum. Students with GPAs over 3.0 are considered competitive.

Standardized Test Score: Applicants must submit official GMAT or GRE scores taken within the last five years. Students are considered competitive with GMAT scores above 500. In addition, the Business School requires a 3.5 on the analytical writing portion of the exam. Students are considered competitive with GRE scores above 500 on each portion of the exam. In addition, the Business School requires a 4.0 on the analytical writing portion of the exam. Students who score below these standards will be asked to retake the exam before their application will be considered.

Students whose test score or previous academic performance does not fall in the competitive range are occasionally admitted on a conditional basis if the Business School feels there is substantial alternate evidence of aptitude for business graduate work.  Also, current University of Maine undergraduate accounting students with strong academic records are encouraged to inquire at the Business Graduate Office about the GMAT policy for top UMaine students.

Letters of Recommendation: Three letters of recommendation must be included with the completed application. If possible, MSA applicants are encouraged to submit letters from current or former supervisors or those who can comment on work-related responsibilities and accomplishments, career advancement and potential, managerial experience, and future career goals. Meaningful academic references are also acceptable, and are most relevant for recent undergraduates. References should detail your strengths, weaknesses, and potential for academic and managerial success.

Communication Skills: Students are required to submit a personal essay as part of their application. The essay is an opportunity for the candidate to describe important attributes not apparent from the rest of the application, and also to convey one’s unique background, character, and ability to add value to the Business School’s Graduate Program. The essays are evaluated not only for content, but also for writing style and grammar. Interviews are not required for admission to the Business School’s graduate programs, but may be requested by either the applicant or the Business School. If requested, candidates will interview with a University of Maine Graduate Program representative prior to the final decision on admission.

University of Maine Business School Graduate Programs require extensive oral and written communication. Those demonstrating insufficient skills will be required to utilize campus resources (e.g., Writing Center).

Work Experience: Work experience is not required for admission to the University of Maine MSA program. However, significant work experience with management responsibilities is especially important to demonstrate maturity and motivation by a student with a weak academic record.

International Students: Applicants whose native language is not English must take the Test of English as a Foreign Language (TOEFL). The test must have been taken within the past five years; the minimum required score is 213 on the computer-based version or 550 on the paper-based test. However, TOEFL is not necessarily a good indicator of English speaking skills. International students demonstrating insufficient skills can be required to attend courses at the University of Maine’s Intensive English Institute in order to continue in the program. Occasionally international students must submit their transcripts to a professional evaluation service (at the student’s expense) in order to demonstrate course equivalencies.

Graduate Standing Requirement: In order to be enrolled in 600-level BUA courses, students must be matriculated in a graduate program at The University of Maine or elsewhere. Visiting graduate students will request their department or university to provide a letter of good standing to the Business School Director of Graduate Programs.

Students with an application submitted and transcripts received, and who are deemed potentially admissible, may request permission to take one 600-level BUA course before admittance in the program.

Graduate Faculty

Pankaj Agrrawal, Ph.D. (Alabama, 1996) Assistant Professor of Finance. Quantitative portfolio management, multi-constraint optimization, long-short market-neutral hedged portfolio construction, estimating optimal market betas, alpha modeling, corporate governance.

David J. Barrett, CPA, M.S.A., A.B.D. (Indiana University), Lecturer in Accounting. Financial Accounting, Positive Accounting Theory

Richard H. Borgman, Ph.D. (Florida, 1994), Associate Professor of Finance. Financial institution management, securitization, portfolio risk management, asset pricing, international finance.

Martha A. Broderick, J.D. (Western New England School of Law, 1983). Instructor in business law.

Steven C. Colburn, Ph.D. (Georgia, 1989), Associate Professor of Accounting. Taxation of individuals, corporations, trusts and estates, with emphasis on tax planning.

Harold Z. Daniel, Ph.D. (Connecticut, 1997), Associate Professor of Marketing. Organizational buying behavior and strategic acquisition, collaborative research and development, strategic management of technology, diffusion of innovations, customer satisfaction, student retention in institutions of higher education.

Carol B. Gilmore, Ph.D. (Massachusetts, 1979), Professor of Management. Labor law, labor arbitration. Public sector collective bargaining, personnel management, employee rights, employee relations law.

Nory B. Jones, Ph.D. (Missouri, 2001), Associate Professor of Management Information Systems. Knowledge management, collaborative technologies, and diffusion of technological innovations.

Omar J. Khan, Ph.D. (St. Louis University, 2006), Assistant Professor of Marketing.

John F. Mahon
, D.B.A. (Boston University, 1982), Interim dean of the College of Business, Public Policy and Health, and interim director of the Maine Business School. John M. Murphy Chair of International Business Policy and Strategy. Professor of Management. Management policy and strategy, global strategy.

Ivan M. Manev, Ph.D. (Boston College, 1997), Nicolas Salgo Professor of Business Administration and Associate Professor of Management. Management of the multinational corporation, formation of strategy and competitive advantage in social networks, management in post-communist transition societies.

Terry B. Porter, Ph.D. (Massachusetts - Amherst, 2006), Assistant Professor of Management. Business strategy and policy, top and middle management strategic roles, multinational and multicultural strategic management, ethics and social responsibility in business policy.

Ferdinand T. Siagian, Ph.D. (Oregon, 2002), Assistant Professor of Accounting. Cost accounting, financial statement analysis, earnings management, corporate governance, executive compensation.

David M. Steiger, Ph.D. (Oklahoma State, 1993), Associate Professor of Management Information Systems. Knowledge management, data mining, decision support systems.

Natalie M. Steiger, Ph.D. (North Carolina State, 1999), Associate Professor of Management. Systems analysis and optimization, operations research and production.

Robert A. Strong, Ph.D. (Pennsylvania State, 1983), University of Maine Foundation Professor of Investment Education and Professor of Finance. The dividend growth rate implied in common stock beta; asset allocation and purchasing power risk; bond portfolio duration.

Gloria Vollmers, Ph.D. (University of North Texas, 1993), Associate Professor of Accounting and Associate Dean. History of accounting, ethics in accounting and business, business history.

Stephanie A. Welcomer, Ph.D. (Pennsylvania State, 1997), Associate Professor of Management. Social and cognitive networks, stakeholder theory, organizations and the natural environment.

Additional information is available from:
Maine Business School Graduate Programs Office
5723 Donald P. Corbett Business Building, Room 209
The University of Maine
Orono, ME 04469-5723
Phone: (207) 581-1973

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