phd in accounting vs cpa

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A Ph.D. for me? Really?

If you are a CPA with recent practical experience and a love for the profession, the academic accounting community is ready to embrace your talents.

Still don’t know what you want to be when you grow up? Based on the number of emails and phone calls I receive, you are not alone. Sure, you landed your first accounting job (or maybe your second or third), and your career opportunities look limitless, but the little voice in the back of your mind is telling you that there is something more out there. You may even be contemplating returning to school to pursue a career as an accounting faculty member. That idea isn’t crazy—in fact, it’s an excellent career move.

There’s a serious shortage of accounting faculty right now. Faculty retirements are on the uptick (the average age of a tenured accounting faculty member in the United States is 60), enrollment in accounting programs is increasing, and demand for accounting graduates is at an all-time high. Initiatives such as the Accounting Doctoral Scholars Program have been created to address the shortage, but the problem persists.

The reality is that if you are a CPA with recent practical experience and a love for the profession, the academic accounting community is eager to embrace your talents. These qualifications are the beginnings of a solid application to a doctoral program. With a few more additions (e.g., a strong GMAT score, meaningful recommendations, etc.), you could be golden. Now may be as good a time as ever to take a step back, rethink your future, and seize this opportunity.

Here are some things to consider in assessing whether to go back to school to earn a doctorate:

• A Ph.D. is a research degree. If teaching is the only side of the faculty equation that interests you, you may want to pursue a different avenue to the classroom. For instance, many universities seek lecturers and adjunct faculty to meet classroom demand. Seek an opportunity to meet with college and university accounting program administrators to investigate potential teaching opportunities.
• What disciplinary area of accounting interests you? Tax? Audit? Managerial accounting? Accounting information systems? Financial accounting? Since different programs have different areas of expertise, making this decision early will help you determine which programs to apply to.
• Doctoral programs usually take four to five years to complete. Can you commit this time?
• You won’t necessarily have to live on ramen noodles again. Many universities offer fellowships and assistantships to help offset the costs of a doctoral education.

Now is a great time to consider pursuing a Ph.D. in accounting. A career in academia may be right around the corner for you. Before you commit, take the time to explore this option to ensure it is the right path for you.

Still unsure? The toe almost in the water? Why not explore? Attend Steve Matzke’s session on all things Ph.D., including how to apply and what kinds of salaries accounting professors receive, on Aug. 7 at the  AICPA E.D.G.E. Conference  in San Antonio.

Steve Matzke  is the director–Faculty & University Initiatives at the AICPA. The Edge e-newsletter, is dedicated to providing tips and tools of interest to young professionals, including articles on building career resiliency, networking for success, and de-prioritizing the immediate to focus on the important. Watch for it in your inbox.  Subscribe now .

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Pursuing a Ph.D. in Accounting: Walking in With Your Eyes Open

Here's how the doctoral track looks through the eyes of one student..

• Professional Development

After teaching mathematics for a number of years, I was contemplating a change in careers. After researching possible career choices, I took an accounting night class at a local university. I enjoyed the logic and structure of the class and quickly decided this was my niche. Next, I set my sights on a master’s of accountancy degree (MAcc). The plan was simple: finish my MAcc in one year, take the CPA exam immediately and find an accounting position, which I knew would likely be readily available.

But something unexpected happened. Three of my professors, seemingly simultaneously and independently, suggested that I change course and pursue a Ph.D. in accounting. They explained the great need at the university level for accounting professors, and they believed my GMAT scores, classroom ability and other skills would be attractive. After talking to my professors privately and asking some initial questions, I researched universities and programs. I learned much about how accounting Ph.D. programs are alike and much more about their differences. I decided on the University of Kentucky.

UK was one of the few programs that was willing to entertain the possibility of a student earning a degree in four years. Many other program directors told me at least five years would be necessary, some more. My interview at UK also revealed a collegial atmosphere between students and professors. Students were treated as equals in many respects. I don’t believe this is common at many other universities, based upon my conversations with professors and Ph.D. students. UK faculty have a wide variety of research interests and are all tenured (save one). The resulting stability in staff and variety of research meant that I would not be pigeonholed into a specific research area, nor would it be likely that my dissertation chair would leave in the middle of my program (see “Faculty Stability” below).

WHY STUDENTS ENTER ACCOUNTING PH.D. PROGRAMS

Studies show that, like me, students choose a particular Ph.D. program for a variety of reasons, many of which are not directly tied to the prestige of the university. According to Supply and Demand for Accounting Ph.D.s (American Accounting Association, 2005) , the top six reasons students enter Ph.D. programs are, in order, personal growth and development, intellectual challenge, teaching, work/family balance, academic research and earnings potential. In my opinion, the first three reasons can be lumped together in the category of “I really like school.” Students who enjoyed their undergraduate and master’s-level courses want to learn (personal growth and development). They enjoy hard work (intellectual challenge—many accounting courses are notoriously difficult). These students like the idea of someday teaching at the college level. They like the environment and find the idea of working there attractive.

Potential earnings as a factor may seem confusing, since salaries in many segments of the accounting profession are higher than those in accounting education. However, salaries for accounting professors have grown rapidly over the past few years. In fact, the American Accounting Association’s 2008 report, Accounting Faculty in U.S. Colleges and Universities , indicates the average salary in 2004 (the most recent year included) for professors under the age of 45 ($101,000) was higher than the average salary of accounting professors over that age ($81,000), suggesting that salaries have been on the rise. In 1993, the average salary for professors under age 45 was just over $61,000 (all figures adjusted to current dollars).

The demand for accounting professors (and the expected increase in demand cited earlier) makes the market attractive, not only because of the increase in salaries but also because of the increase in job openings (see “A Profession’s Response to a Looming Shortage: Closing the Gap in the Supply of Accounting Faculty,” JofA , March 09) . The Accounting Faculty report cited above estimated 140 new Ph.D.s are being produced each year, while about 500 professors retire. More available jobs means candidates have more control over location factors (region of the country, size of the city, climate, etc.). Assuming the candidate can meet the research requirements and obtain tenure, the stability of employment can make for an attractive combination of a nice place to work and live. These factors, combined with time and autonomy factors, make the accounting Ph.D. an attractive option.

Of course, there is a cost to getting a Ph.D. Students entering a program are sacrificing their earnings potential for the next four or five years. The amount and complexity of the work can cause significant stress. Almost all Ph.D. students I have spoken to have mentioned at some point their stress in surviving the program, fear of failure or frustrations. On the bright side, most Ph.D. programs do not charge students tuition. In fact, most students received stipends or fellowships to give them a (very) modest income.

One key response students gave as to why they wanted to enter an accounting Ph.D. program was also my primary reason: work/life balance. Working as an accounting professor offers flexibility in hours and independence, both in the classroom and in research choices. Although new accounting professors will spend a great deal of time working on research projects, developing and teaching classes and learning the university system (committee work, politics, etc.), the flexibility in when those hours are spent allows an accounting professor a great deal of latitude in determining a schedule for a given day.

RESEARCH EMPHASIS A SUPRISE

I suspect, however, that the remaining survey response, academic research, may not in reality match survey respondents’ ideas. As I studied course catalogs and questioned professors, I quickly discovered a feature the programs shared that I hadn’t expected. A Ph.D. in accounting differs from a B.S. or MAcc degree in subject matter. The Ph.D. coursework does not address accounting fundamentals (financial statements, debits/credits, GAAP, etc.). Rather, the curriculum generally focuses on research about accounting, usually from either or both of two perspectives commonly known as archival and behavioral. The reason is that when research institutions (universities that have accounting Ph.D. programs) look to hire new faculty, they are overwhelmingly interested in candidates’ research—publications, working papers (papers that are in rough draft form and that the student is hoping to publish soon), or dissertation work, depending on the candidate’s experience level.

TYPICAL ACCOUNTING PH.D. PROGRAM

A typical accounting program consists of two years of coursework, qualifying or comprehensive exams (both written and oral) and a dissertation. however, some schools may want you to take three years of coursework. the dissertation phase can also take three to four years or more at some schools. the length of time depends on the faculty’s view of the dissertation phase, your individual dissertation committee, your ability to come up with a high-quality topic, and your persistence and dedication to finishing..

Your coursework will be determined by the type of accounting research you plan to do in your career (at least initially). Many entering Ph.D. students may be unsure of what accounting research is, much less of the type of research they eventually want to do.

Typically, students take three accounting research seminars, each focused on expanding the student’s understanding of accounting research and preparing the student to conduct independent research. Two independent projects (first- and second-year papers) precede the student’s dissertation work. Ideally, the student will research an area of accounting with a research question in mind, developing a review of the existing literature and a research hypothesis for the first-year paper. In the second-year paper, the student carries out the proposed study from the first-year paper and reports the results.

Outside the three required seminars, students’ coursework will be determined by their research interests. Here are a few typical courses that doctoral students may take:

• Introduction to econometrics . A comprehensive survey of the general linear regression, autocorrelation, errors in variables and distributed lag models.  
• Seminar in financial theory . Primary emphasis is on the theory of financial asset valuation. Topics include utility theory, investor reaction to uncertainty, and cost-of-capital theory.
• Cognitive psychology . An intensive examination of theoretical and empirical evidence concerning mental processes in the adult human, including memory, language and problem solving.
• Regression and correlation . Simple linear regression, elementary matrix algebra, multiple regression, analysis of variance, stepwise regression and partial/multiple correlation are among the topics covered.

TWO PATHS TO A PH.D.

The archival path is the more popular, judging by the number of articles published in top accounting journals. Archival courses (so-called because the data for these studies have been archived, as in stock prices) are primarily based in economics and finance. A strong background in mathematics is necessary for this path. The behavioral path is based primarily in psychology. Students on this track study how and why people make decisions, as well as other psychology-based topics.

Before formally applying to a school, understand what type of program the school offers. Some schools are primarily archival-based, others are primarily behavioral, and some are a mix of both. Most incoming students base their choice on whether they believe they can succeed in the archival coursework, which is heavy on math theory, advanced calculus, finance and economics.

Many schools state that they offer both types of programs, when in reality they may have eight to 10 professors who do work in one style and only one or two professors who do work in the other. When you speak to people at individual schools, therefore, be sure to ask about specific numbers of professors in different areas, or look it up for yourself.

Another consideration is which academic area of accounting (audit, tax, financial accounting, etc.) interests you. Most of these areas can be studied from an archival or behavioral point of view, but not every school has professors who do research in each of these areas. You may be interested in tax, for instance, and the school to which you are applying may have high-quality tax professors. However, if you are interested in behavioral tax research and all of the tax professors at that school do archival-based tax research, the school may not be a good fit for you.

FACULTY STABILITY

Another variable is the stability of the faculty. If you are applying to a school with only one tax professor who is active in research and that professor were to leave (either through not getting tenure, taking a position at another university or retirement) before you graduate, it could throw a major wrench into your plans. Therefore, it is wise to consider not only the number of professors in your area, but also how long they have been there, whether they are tenured and, if ascertainable, the chance that they will remain for your entire time there. I originally applied to a different university, but after talking with a few people, I withdrew my application. There were only two active researchers at this school. The word was that one was looking to leave and that if he did, the other would probably leave, too. I did not want to contend with this uncertainty during the next four to five years.

THE JOURNEY THUS FAR

The decision to pursue a doctorate in accounting is a dramatic life change, especially if you have been working in a nonacademic career for a number of years. A return to school can be daunting, especially if you must recall information from your undergraduate and graduate coursework you have long forgotten. However, I am confident the benefits at the end of the journey will more than make up for any discomfort experienced along the way. As a veteran researcher advised me, doctoral school will definitely change you. Some of the changes you will like, and others you may not. As I close in on the midpoint of my program, I can say that so far I have been fortunate to experience the former without the latter. v

EXECUTIVE SUMMARY

Jason Bergner is a Ph.D. candidate in the Von Allmen School of Accountancy at the University of Kentucky. His e-mail address is [email protected] .

JofA articles

• “ A Profession’s Response to a Looming Shortage: Closing the Gap in the Supply of Accounting Faculty ,” March 09
• “ Teaching for the Love of It ,” June 06
• “ The Practitioner-Professor Link ,” June 05

Accounting Faculty

• Supply and Demand for Accounting Ph.D.s , http://aaahq.org/about/reports/FINAL_PhD_Report.pdf
• Accounting Faculty in U.S. Colleges and Universities: Status and Trends, 1993–2004 , http://aaahq.org/aplg/seminars/2008/DavidLeslie.ppt

Academic and Professional Accounting Associations

The American Accounting Association, http://aaahq.org

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About / Departments

Department of Accounting | Ph.D. Overview

Ph.d. overview.

• Stern’s accounting faculty has a wide range of research interests and continuously publishes works in all major academic accounting research journals such as the Journal of Accounting Research, Journal of Accounting and Economics, the Accounting Review, the Review of Accounting Studies, and Contemporary Accounting Research. Furthermore, Stern’s accounting faculty has published in such major Finance journals as the Journal of Finance, the Journal of Financial Economics, and the Journal of Financial and Quantitative Analysis.
• The Department boasts a large and diverse body of Ph.D. students, who assist faculty with research projects early on in their doctoral program and often become co-authors to papers published in prestigious accounting journals.
• The admissions process is a rigorous one and important criteria are: an interest in doing research and teaching in accounting, strong quantitative skills, and an ability to communicate effectively. There are no formal education requirements  other than possession of a bachelor's degree - an MBA is not required.
• The quality of our Ph.D. program (ranked 7th in the United States by U.S. News and World Report) manifests itself by, among other things, our success in placing our graduates.

Click here to learn more about the PhD admissions process.

Accounting, Ph.D. Program Coordinators

NYU Stern Henry Kaufman Management Center 44 West 4th Street Suite No. 10-77 Phone:  212-998-0025 Email: [email protected]

Xiaojing Meng

NYU Stern Henry Kaufman Management Center 44 West 4th Street Suite No. 10-84 Phone:  212-992-6812 Email:   [email protected]

Explore Stern PhD

• Meet with Us

• Harvard Business School →
• Doctoral Programs →
• PhD Programs

Accounting & Management

• Business Economics
• Health Policy (Management)
• Organizational Behavior
• Technology & Operations Management
• Program Requirements

Accounting & Management

Curriculum & coursework.

Our programs are full-time degree programs which officially begin in August. Students are expected to complete their program in five years. Typically, the first two years are spent on coursework, at the end of which students take a field exam, and then another three years on dissertation research and writing.

Students in the Accounting and Management program must complete a minimum of 13 semester-long doctoral courses in the areas of business management theory, economic theory, quantitative research methods, academic field seminars, and two MBA elective curriculum courses. In addition to HBS courses, students may take courses at other Harvard Schools and MIT.

Research & Dissertation

Students in accounting and management begin research in their first year typically by working with a faculty member. By their third and fourth years, most students are launched on a solid research and publication stream. In Accounting and Management, the dissertation may take the form of three publishable papers or one longer dissertation.

Recent questions students have explored include: the ways in which managers use retail-level marketing actions to influence the timing of consumer purchases in relation to their firms’ fiscal calendars and financial performance as well as those of their competitors; the role of accounting information in strategic human resource decisions; the evolution, consequences and institutional determinants of unregulated financial reporting practices; the effects of adopting rolling forecasts on forecast quality.

Elliot Tobin

“ I’m constantly inspired to look into new research angles by the brilliant people I run into on campus every day. ”

Current HBS Faculty

• Brian K. Baik
• Dennis Campbell
• Srikant M. Datar
• Aiyesha Dey
• Susanna Gallani
• Gunther Glenk
• Brian J. Hall
• Jonas Heese
• Robert S. Kaplan
• V.G. Narayanan
• Trung Nguyen
• Joseph Pacelli
• Lynn S. Paine
• Krishna G. Palepu
• Ananth Raman
• Edward J. Riedl
• Clayton S. Rose
• Ethan C. Rouen
• Tatiana Sandino
• David S. Scharfstein
• George Serafeim
• Anywhere Sikochi
• Robert Simons
• Eugene F. Soltes
• Suraj Srinivasan
• Adi Sunderam
• Charles C.Y. Wang
• Emily Williams

Current Accounting & Management Students

• Yaxuan Chen
• Ji Ho Kim
• Botir Kobilov
• Yiwei Li
• Trang Nguyen
• Konstantin Pavlenkov
• Ria Sen
• Terrence Shi
• Albert Shin
• Elliot Tobin
• Wenxin Wang
• Yina Yang
• Siyu Zhang

Current HBS Faculty & Students by Interest

Recent placement, yaxuan chen, 2024, hashim zaman, 2022, wei cai, 2020, matthew shaffer, 2019, botir kobilov, 2024, patrick ferguson, 2021, jihwon park, 2020, wilbur chen, 2022, alexandra scherf, 2021, jody grewal, 2019.

• Doctoral Programs

The PhD specialization in Accounting prepares students to become accounting scholars engaged in research and teaching at the highest levels in the general areas of financial information and contracting within and across organizations. 

Yale SOM’s specialization in accounting is designed to develop strong theoretical and empirical skills. There is a heavy emphasis on original research to form a base for sustained scholarship. Co-authored research, with both faculty and fellow PhD students, is encouraged and supported.

Yale’s accounting program is small (matriculating one to two students each year), and involves informal and spontaneous frequent interactions with faculty. The program maintains a 1:1 faculty-to-student ratio. Students interact with emerging research in a host of ways, from conferences held on campus to weekly seminars where faculty and fellow PhD students present and discuss their work.

Candidates tend to pursue a broad range of research interests, helped by courses in accounting as well as in various areas of management, Department of Economics, Yale Law School, and other parts of the University. They develop fruitful relationships with other Ph.d. students, especially from the Finance PhD program.

Examples of research submitted as dissertations by students in the program:

• Intended Benefits and Unintended Consequences of Improved Performance Disclosure
• Asymmetric Inefficiency in Market Response to Non-earnings 8-K Information
• Real Earnings Management in Nonprofit Organizations
• How Does More Frequent Reporting Reduce Information Asymmetry?
• Real Earnings Management in the Financial Industry
• Accruals and price crashes
• Customer-base concentration: Implications for firm performance and capital markets
• The Treatment of Special Items in Determining CEO Cash Compensation
• Strategic Decentralization, Bargaining, and Transfer Pricing in Supply Chain Efficiency
• Keynesian Beauty Contest, Accounting Disclosure, and Market Efficiency
• Labor Unions and Management’s Incentive to Signal Declining Profitability
• Investor Expectations, Earnings Management, and Asset Prices
• Limiting Outside Directors' Liability through Charter Provisions: An Empirical Analysis
• Nickels Not Pennies: Explanations and Implications of Granularity in Analysts’ EPS Forecasts
• Auditor’s Pre-Negotiation Information, Accuracy of Financial Reports and Consulting Services
• Taxes, Debt, and Firm Value: New Evidence

Examples of research co-authored with faculty and other students:

Publications.

• Management of reported and forecast EPS, investor responses, and research implications (Management Science
• Placebo Tests of Conditional Conservatism (The Accounting Review)
• Orphans Deserve Attention: Financial Reporting in the Missing Months When Corporations Change Fiscal Year (The Accounting Review)
• Why do EPS forecast error and dispersion not vary with scale? Implications for analyst and managerial behavior (Journal of Accounting Research)
• More Evidence of Bias in the Differential Timeliness Measure of Conditional Conservatism (The Accounting Review)
• The Effect of Litigation Risk on Management Earnings Forecasts (Contemporary Accounting Research)
• Friction in Related Party Trade when a Rival is also a Customer (Management Science)
• The Joint Determination of Audit Fees, Non-audit Fees and Abnormal Accruals (Review of Quantitative Finance and Accounting)

Working Papers

• Rethinking Determinants of Trading Volume at Earnings Announcements
• Auditor Change Disclosures as Signals of Earnings Management and Risk
• Individual Investor Overextrapolation
• The Value and Information Effects of Initial Loan Contract Strictness
• The Information Quality Effect of Accruals-Based Benchmark Beating: Evidence from the CDS Market
• On the Contemporaneous Reporting of Income Increasing and Income Decreasing Special Items: Initial Evidence
• Conditional conservatism: the case of goodwill impairments under SFAS 142
• The power of firm fundamentals in explaining stock returns

When accounting goes unaccounted for

Should CPAs Consider a PhD?

I have written previously  about accountants getting an MBA or EMBA . This post looks at another career change -– getting a PhD to become a professor. The topic has been well covered here before ; my post will talk more about my personal experience and opinions.  

I became a college professor eight years ago after a 28-year career at PwC. I retired at 50 enabled by PwC’s generous retirement program for partners and motivated by a desire for a second career. I tried retirement first, but it didn’t take. My golf handicap dropped to under ten, but I still needed more intellectual stimulation and entered a PhD program at Macquarie Graduate School of Management in Australia. Getting a PhD was about as hard as making partner, but it enabled a fascinating second career for me.

I love teaching, and I love research, so the job is a good fit for me. It has also opened doors I didn't expect. I served two years on the PCAOB’s Standing Advisory Group , and testified before the U.S.-China Economic and Security Review Commission that was set up by Congress. I am the go-to guy for reporters on accounting and auditing issues –- particularly with respect to China. I even published my doctoral thesis as a book .

But, as my doctoral supervisor once told me, the three best things about being a professor are June, July and August.

Most CPAs can get a teaching job at a university without a PhD, but some schools will require a master’s degree. Many professors have public accounting experience. I wish business schools required prior professional experience, since it is difficult to be an effective teacher without real world stories. Most professors with public accounting experience got it before their PhD, and typically left the CPA profession before making manager. Many partners teach a course or two after retirement, but few get a PhD since it's a major commitment. In fact, I only know of two retired partner/professors who got a doctorate after retirement -– Richard Clune of Kennesaw State and me, although there may be more. One reason to get a PhD is that you will never be treated as a full member of the academic club without one. 

Getting into a PhD program is not that difficult, and students rarely pay tuition, instead usually getting paid to do the program. But to earn a PhD you are looking at four or five years of subsistence living, and very hard work.

A 2007 study found that 53.4% of accounting faculty are 55 and over. The average age is probably higher today, and retirements outpace the production of new PhDs. My undergraduate school, Western State Colorado University , lost two of three accounting faculty last year to retirement. I am taking a sabbatical to teach there next spring while they look for replacements (and to get in some skiing ).

So there are lots of jobs for accounting faculty , and they pay better than most faculty jobs . New professors often make more than experienced ones, and new PhDs commonly get multiple offers around $150k at top schools. At a smaller school you might earn $100k, but also have less pressure to publish in top journals, instead carrying a heavier teaching load. But those salaries are likely far below what these people could earn in public accounting. Many professors supplement their income with consulting and outside seminars. Adjunct professors make considerably less, averaging $48K. All worse than public accounting, but there is June, July, and August. Accounting firms like to talk about work-life balance; I live it.

A PhD in accounting often is not really about accounting. The most popular research track uses econometric techniques to tease out new relationships from data pulled from financial statements. I don’t find most of this research useful all it seems to be is refining the calculation of how many angels can dance on the head of a pin . I favor sociologically based research, which includes behavioral and historical work. This kind of research may be more interesting, but can make it harder to get a job at a top university or to get the beloved tenure. I have the first and I am not interested in the second.

Life as a professor is about a balanced scorecard. There are three parts to the job –- research, teaching, and service. Most professors are expected to turn out research in order to be promoted or get tenure. At top schools you have to publish in top journals, which are read by no one and are nearly impossible to get published in. It can take years to get an article into a top journal, meaning it is usually obsolete by then anyway. Lesser schools are more flexible, accepting articles published in the Journal of Accountancy or other business publications (but probably not Going Concern).  Young professors at top universities live like senior managers in accounting firms, working long hours to publish articles that prove they are good enough for promotion and tenure. 

Teaching is less important for promotion at many research schools. Students have a lot of power and their evaluations are important in determining whether you get promoted. But without the research, few schools will even look at the evaluations. If you teach at a community college or small state school, teaching ratings may be the only thing that matters. Teaching loads vary depending on research expectations. My teaching load at my present research school is four semester hours each semester. When I am at Western State Colorado University I will teach a full load of 12 semester hours. 

Service is what accountants call non-chargeable work. It involves helping to run the school, serving on committees, and participating in outside organizations. It is not valued much in academia any more than it is in public accounting, but everyone has to do some of it. I do a lot of service, mostly because I am under less pressure to publish than my colleagues.

If you are under 40 and want to change careers, a PhD program will let you do that. To get into a top program you will need a GMAT score over 700 (top 15%) with great math skills. I changed to a different research methodology when I found myself in Barnes & Noble reading calculus textbooks at midnight. Older students may benefit from a PhD program, but if they are mostly interested in teaching, they can just jump into that, perhaps starting on a part-basis as an adjunct faculty. You won’t make much of a living as an adjunct, however.

There are also Doctor of Business Administration (DBA) programs designed for mid-career professionals. Some of these are offered by for-profit schools and are of dubious quality, but there are good programs. The DBA may be coursework focused, instead of research, and typically is more practically oriented. The DBA degree is less respected than the PhD in academia; I started my studies in a DBA program and was soon advised to switch to a PhD.

So, if you want to make a career change that will allow you to get serious about work-life quality, think about getting a PhD.  And remember the three best things -– June, July, and August.

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AICPA Helping CPAs Earn PhD in Accounting

The program, first launched in 2009, will recruit up to 40 practicing CPAs who have shown interest and potential in being college professors to attend an all-expenses-paid conference to learn what it takes to earn a PhD in accounting and to teach and ...

Apr. 28, 2020

The American Institute of CPAs (AICPA) is seeking applicants for its expanded Accounting Doctoral Scholars program, which identifies currently practicing CPAs interested in becoming accounting professors.

Applications are being accepted through September 11, 2020.

The program, first launched in 2009, will recruit up to 40 practicing CPAs who have shown interest and potential in being college professors to attend an all-expenses-paid conference to learn what it takes to earn a PhD in accounting and to teach and research at a university. Of those, up to 20 individuals will be selected to receive a $5,000 stipend to support their education, should they ultimately be accepted into one of more than 40 affiliated PhD programs.

“The Accounting Doctoral Scholars program is about identifying practicing CPAs who have the potential to become great educators of the next generation of CPAs,” said Steve Matzke, Association of International Certified Professional Accountants’ director of faculty and university initiatives. “Earning a PhD is a rigorous and life-changing process. The ADS program helps CPAs understand upfront what it takes to complete their PhD, as well as the research, teaching, and service requirements of accounting faculty.”

Previously, the Accounting Doctoral Scholars program focused on audit and tax accounting. This year, the program is expanding to include management accounting, information systems and financial analytics.

The program is intended to help grow the number of CPAs in the classroom and ensure a steady supply of accounting professors. Educators with recent, relevant workplace experience provide their students with a greater understanding of what a career in the accounting profession entails and the value a CPA license adds.

“As the profession continues to evolve, we’re hearing from firms and businesses alike that professional skepticism, critical thinking, and the ability to understand how to use data to make decisions are increasingly essential for CPAs” said Yvonne Hinson, CPA, CGMA, Ph.D., academic in residence, Association of International Certified Professional Accountants AICPA. “What’s more, CPAs with recent professional experience are perfect messengers for the central role technology plays in all areas of today’s profession.”

The program, funded by the AICPA Foundation, is one of many Institute initiatives to help academia and practice align more closely, including putting practitioners on Association to Advance Collegiate Schools of Business accreditation reviews, offering discounts to academics to attend AICPA conferences, and free resources to help academics engage with practitioners on accounting program advisory boards.

To date, more than 108 CPAs who went through the Accounting Doctoral Scholars program have who completed their PhD, and another 45 are currently enrolled in PhD programs. ADS candidates selected for funding, as well as all candidates attending the ADS Orientation Conference and enrolled in an ADS Participating University, are also eligible to apply for the William (Bill) Ezzel Scholarship .

CPAs interested in transitioning into an academic career can learn more about the program at www.adsphd.org .  This year, the program will be hosting a free virtual GMAT bootcamp for the first 60 candidates who RSVP.  More information on the bootcamp is on the program’s website.

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• Dissertation Areas and Joint PhD Programs
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• 100 Years of Pioneering Research
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PhD in Accounting

• PhD in Behavioral Science
• PhD in Econometrics and Statistics
• PhD in Microeconomics
• PhD in Finance
• PhD in Management Science and Operations Management
• PhD in Marketing
• Joint Program in Financial Economics
• Joint Program in Psychology and Business
• Joint PhD/JD Program

Chicago Booth has one of the preeminent PhD accounting programs. Our faculty conduct groundbreaking scholarly work, and our graduates have played a central role in the evolution of modern accounting research.

As a PhD student in accounting at Booth, you’ll have the freedom to explore and cultivate your research interests from day one—wherever they lead.

You’ll join a collaborative research community and work with prominent scholars whose groundbreaking research is recognized for its impact on the academic literature, accounting practice and policymaking, securities regulation, and elsewhere. In addition to your stipend, you may apply for research and conference travel funding from our research centers and the Stevens Doctoral Program. In research workshops and conferences, you’ll present your work and hear about the work of fellow researchers. 

Our Distinguished Accounting Faculty

As measured by research productivity and impact, Chicago Booth has one of the best accounting faculty groups in the world. The group includes Philip G. Berger, Hans B. Christensen, Merle Erickson, Christian Leuz, Michael Minnis, Valeri Nikolaev, Haresh Sapra, Douglas J. Skinner, and Abbie J. Smith, as well as an outstanding group of research-active junior faculty. The school is committed to maintaining the quality of this group.

These distinguished scholars are also teachers and mentors who will advise you, coauthor papers with you, supervise your thesis, help you find an outstanding job, and serve as colleagues throughout your career.

Philip G. Berger

Wallman Family Professor of Accounting

Hans B. Christensen

Chookaszian Family Professor of Accounting and David G. Booth Faculty Fellow

Anna Costello

Professor of Accounting and David G. Booth Faculty Fellow

Merle Erickson

Professor of Accounting

Joao Granja

Associate Professor of Accounting and Jane and Basil Vasiliou Faculty Scholar

Christian Leuz

Charles F. Pohl Distinguished Service Professor of Accounting and Finance

Bradford Levy

Assistant Professor of Accounting

Charles McClure

Michael Minnis

Professor of Accounting and Charles E. Merrill Faculty Scholar

Maximilian Muhn

Valeri Nikolaev

James H. Lorie Professor of Accounting and FMC Faculty Scholar

Madhav Rajan

Dean and George Pratt Shultz Professor of Accounting

Thomas Rauter

Assistant Professor of Accounting and IBM Corporation Faculty Scholar

Amoray Riggs-Cragun

Assistant Professor of Accounting and Kathryn and Grant Swick Faculty Scholar

Delphine Samuels

Associate Professor of Accounting and James S. Kemper Foundation Faculty Scholar

Haresh Sapra

Charles T. Horngren Professor of Accounting

Douglas J. Skinner

Deputy Dean for Faculty and Sidney Davidson Distinguished Service Professor of Accounting

Abbie J. Smith

Boris and Irene Stern Distinguished Service Professor of Accounting

Christopher Stewart

Assistant Professor of Accounting and William S. Fishman Faculty Fellow

Associate Professor of Accounting and Kathryn and Grant Swick Faculty Scholar

Anthony Welsch

Anastasia A Zakolyukina

Associate Professor of Accounting

Alumni Success

The American Accounting Association periodically awards a prize for seminal contributions to the accounting literature. Graduates of the PhD Accounting Program are regular winners of this prestigious prize.

Our PhD graduates in accounting go on to faculty positions  at some of the world's most prestigious institutions.

Kalash Jain, MBA '23, PhD '23

Assistant Professor of Business, Accounting Division Columbia Business School, Columbia University His research examines the impact of information processing frictions and investor decision making on asset prices and firm investment. His dissertation area is in accounting.

Sinja Leonelli, MBA '23, PhD '23

Assistant Professor of Accounting Stern School of Business, New York University Sinja's research primarily examines misconduct reporting, regulation and enforcement, and the use of ESG information by stakeholders such as regulators, employees, and consumers. Her dissertation area is in accounting.

Shirley Lu, MBA ’21, PhD ’21 

Assistant Professor of Business Administration Harvard Business School, Harvard University Shirley Lu studies Corporate Social Responsibility (CSR) disclosure, with a focus on climate change and gender diversity. Her dissertation area is in accounting.

Spotlight on Research

Chicago Booth Review frequently highlights the work of accounting PhD students, faculty, and alumni.

One Way Discrimination Creeps into the Supply Chain

A Q&A with Chicago Booth’s Anna Costello about how the pandemic affected which suppliers got paid on time.

AI Reads between the Lines to Discover Corporate Risk

“Corporate risk exposures are often subtly implied in conference call discussions rather than explicitly stated,” write Chicago Booth PhD student Alex G. Kim and Booth’s Maximilian Muhn and Valeri Nikolaev.

Civilization is Based on Accounting

A Q&A with Chicago Booth’s Ray Ball on accounting’s past and future.

Financial Data Privacy Could Help Fight Poverty

Historical data can shape future outcomes, helping to determine whether a prospective borrower has access to a home, car, or other opportunities, write University of Utah’s Mark Jansen, Chicago Booth PhD student Fabian Nagel, and Booth’s Constantine Yannelis and Anthony Lee Zhang.

A Network of Support

Doctoral students at Booth have access to the resources of several research centers  that offer funding for student work, host workshops and conferences, and foster a strong research community.

The Chookaszian Accounting Research Center The Chookaszian Accounting Research Center coordinates accounting research at Chicago Booth and hosts research brown bags and workshops. It also publishes the Journal of Accounting Research , one of the top accounting research journals in the world.

George J. Stigler Center for the Study of the Economy and the State Dedicated to examining issues at the intersection of politics and the economy, the Stigler Center supports research in the political, economic, and cultural obstacles to better working markets.

Rustandy Center for Social Sector Innovation Chicago Booth’s destination for people committed to tackling social and environmental problems, the Rustandy Center supports the work of PhD students and others who are focused on transforming the social sector.

Inside the Student Experience

For Andrew Sutherland, PhD ’13, coauthoring research with Booth faculty was a highlight of the Stevens Program.

Video Transcript

Andrew Sutherland, ’13: 00:09 In accounting, there's tons and tons of research on these big public firms that have an army of investor relations people and they constant disclosing things. That's where most of the research was happening, but there's this whole other half of the economy, these private firms, that we didn't really know a lot about. We didn't know a lot about how they got credit. What was interesting to me is that a lot of time, firms are able to get credit without even providing any financial statements or any information whatsoever to the bank. The reason they're able to get credit is that they have a credit score. So in other words, the information is coming, not from the form itself, but from another bank who had dealt with them in the past. What really struck me was there wasn't really a lot of research out there on this information channel. That's when I decided I wanted to learn a little bit more about what this reporting channel does to contract and help firms get credit and how it changes banks' incentives to lend.

Andrew Sutherland, ’13: 01:01 Basically, the firms that have a good credit record or a long track record of borrowing successfully were the ones that were able to shop around. We would think that's a good thing, that giving firms more choice about who to borrow from kind of increases social welfare, you get better matching between lenders and firms. Kind of the dark side is that the firms that have had payment trouble that have defaulted or missed some payments on loans sort of get shut out of the credit part. You have a harder time starting any new relationships with outside lenders. That's kind of a cost.

Andrew Sutherland, ’13: 01:34 The second cost is that information sharing changes the game for lenders. So, if participating in this credit bureau basically allows outside lenders to pick off the firms that are doing better, then that destroys the incentive for lenders to kind of invest in relationships to begin with. That's sort of the second dark side of information sharing, if you will.

Andrew Sutherland, ’13: 01:54 So, I coauthor on a number of projects with the junior faculty member here named Mike Minnis. I probably talked to Mike more than I talk to my wife. I don't know if that's a good thing or a bad thing. But, I mean, as a PhD student, there's only so much you can learn in class, and having a faculty member to work with that's kind of gone through the ropes and understands the review process, that's done something on their own, it gives you a really good opportunity to learn. That's something, I think that was absolutely instrumental in my success

Current Accounting Students

PhD students in accounting come to Chicago Booth with a wide range of interests and goals. Recent dissertations have focused on everything from machine learning to the impact of fiscal monitoring, and graduates have gone on to positions at some of the world’s preeminent institutions, including Columbia Business School, Stanford Graduate School of Business, and the Wharton School of the University of Pennsylvania.

Current Students

Samuel Chang Jonas Dalmazzo Jewel Evans Lingyu Gu Yanzi (Yvonne) Han Grant Hayes Roope Keloharju Maria Khrakovsky Alex Kim Ginha Kim Andrew McKinley Fabian Nagel Pietro Ramella Hristiana Vidinova Hanbyul Yoon Jingyu Zhang

Program Expectations and Requirements

The Stevens Doctoral Program at Chicago Booth is a full-time program. Students generally complete the majority of coursework and examination requirements within the first two years of studies and begin work on their dissertation during the third year. For details, see General Examination Requirements by Area in the Stevens Program Guidebook below.

Download the 2023-2024 Guidebook!

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Doctorate in Accounting

A doctorate in accounting is the highest degree available in the field, but it is typically pursued by those interested in conducting accounting research in academic institutions or research organizations or those interested in teaching at the postsecondary level. People who are interested in becoming Certified Public Accountants (CPAs) need to have 150 hours of college credit, which can usually be satisfied with a master’s degree in accounting or a bachelor’s degree in accounting along with a graduate certificate or additional graduate-level coursework. Students interested in specialized consulting or governmental work may benefit from an accounting PhD as well. According to the National Center for Education Statistics (NCES), nearly 550 not-for-profit schools in the US have advanced accounting programs, which include programs at the master’s, doctoral, and graduate certificate levels. 1

PhD in Accounting Learning Goals

1. understand research methods and quantitative tools..

Students should gain a strong foundation in the tools and knowledge necessary to conduct thorough research. A comprehensive understanding of research methods and processes will allow a student to complete careful, accurate work in the PhD program and beyond.

2. Contribute original research to the accounting field.

Doctoral students should pursue the subarea of accounting that interests them or explore areas of the field that still have unanswered questions. With the resources and support of the university, students can create new, original research that can add to the field of accounting.

3. Apply research to relevant issues in accounting.

The doctoral research done by students should be applicable to the accounting industry. By examining current, relevant issues, doctoral students can help move the academic accounting field forward and contribute to the industry at large.

PhD in Accounting Program Options

Doctor of Philosophy (PhD) in Accounting programs culminate with students completing specialized, original research that contributes to the accounting industry. Prior to completing a dissertation project, students take courses in advanced accounting theory and applied research methods. This degree usually takes four to seven years to complete, depending on the student’s course load and chosen research project. Most programs comprise 70-120 credit hours.

In addition to the academically-focused PhD in Accounting, the Doctor of Business Administration (DBA) is another degree choice for those interested in a doctoral degree in accounting. While there may be some overlap between the two degrees, the PhD tends to focus on research, academia, and accounting theory, while the DBA is considered a professional degree and tends to focus on making contributions to business management in practice.

Online Degree Formats

Most PhD programs are intensive, four- to seven-year-long degrees that take place on one campus. A number of universities across the country offer PhD programs where students can pursue original research in the accounting field. Due to the intensive, project-based nature of PhD research, however, most programs require students to study on campus and do not offer online PhD degrees.

Admission Requirements

Every university has different guidelines, but in general, admission to PhD programs is very competitive. Applicants must have at least a bachelor’s degree, and some schools also require a master’s degree or experience in the field. Applications usually require GMAT or GRE scores and proof of an academic background in subjects such as mathematics, statistics, and economics. Students that have taken a significant number of accounting courses or have earned bachelor’s or master’s degrees in accounting may have an advantage in the application process.

Core Concepts and Coursework

PhD program curriculum usually starts with advanced and specialized courses that students need to complete their dissertation research. These courses focus on the accounting, business, economic, statistical, and research skills needed to pursue research projects. Students may also complete teaching practicums or periodic oral or written examinations. PhD programs conclude with a student conducting original research and writing a dissertation. Though every university is different, below are some common foundational courses and seminar titles:

• Advanced Financial Reporting
• Behavioral Accounting Research
• Capital Markets Research
• Decision Models
• Doctoral Dissertation Seminars
• Econometrics
• Empirical Research
• Mathematical Modeling
• Research Methods
• Statistical Analysis

Select PhD in Accounting Programs

University of georgia.

At the Terry College of Business at the University of Georgia, students can earn a PhD in Business Administration with a concentration in Accounting. The faculty at UGA is focused on research in the field, and students can collaborate with professors doing active research. All PhD students take preparation classes such as Capital Markets Research and Math for Economists. Students then choose one of three concentrations within accounting: Financial Accounting, Taxation, or Auditing. Each concentration requires additional classes, such as specialized econometrics or statistics courses, to prepare students to do their research. During the last year of the program, students work on their doctoral dissertations. Many graduates from the PhD program go on to work at research-oriented universities or take research positions in private organizations or government.

Stanford University

The Graduate School of Business at Stanford University offers a PhD in Accounting. Students study a broad, interdisciplinary curriculum, learning skills for conducting analytical and empirical research. The program focuses on the application of economics, decision theory, and statistical analysis of accounting issues. Through a foundational series of economics, finance, and econometrics courses, students prepare to develop the framework and skills needed to conduct their original research. To be considered for admission, students need a thorough understanding of subjects such as microeconomic theory, econometrics, and mathematics, as well as some computer programming skills. This quantitative-focused PhD program does not require students to have a traditional accounting background or CPA designation.

Columbia University

Columbia University’s Business School offers a PhD in Accounting. Students gain familiarity with the research literature and conceptual foundations in the accounting field. In courses such as Accounting Theory, Economic Analysis, Mathematical Methods, and Empirical Research in Accounting, students learn concepts and research skills applicable to their own original research. The curriculum includes doctoral seminars, research projects, and peer and faculty reviews of current research. Students choose between financial accounting, managerial accounting, and auditing as the focus of their dissertation research. All doctoral students participate in the Burton Conference at Columbia, which is a series of peer-evaluated workshop sessions with accounting scholars from other institutions.

Jobs with a PhD in Accounting

Many graduates from PhD in Accounting programs go on to work in research-oriented positions in academia, research institutions, or government. Graduates may also find work in consulting or public policy. Some potential positions for those with PhD in Accounting degrees include:

• College or university professor
• Financial analyst
• Public policy researcher

Frequently Asked Questions

Do i need a phd to become a cpa.

In general, CPA requirements can be fulfilled by a master’s degree or with a bachelor’s degree in accounting along with additional accounting coursework or an accounting certificate. A PhD is not required to become a CPA in any state, though it may satisfy CPA state educational requirements. However, it should be noted that most PhD program curricula do not focus on preparing students for the CPA certification, but instead focus on a student’s research dissertation.

How much can I make with a PhD in Accounting?

Postsecondary teachers of business earn an average annual salary of $87,200, and this salary can vary depending on the academic institution as well as the specialization and experience level of the professor. 2 Postsecondary business teacher positions are projected to grow by 14.7% through 2028, much faster than the average profession. 3

What can I do with a PhD in Accounting?

A doctoral accounting degree is most commonly sought by those interested in doing research in the accounting field. Graduates may go on to work as professors, researchers, or consultants.

Can I get certified with a PhD in Accounting?

Some PhD students who have previously worked in the accounting field may already have professional designations such as Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA). Professional certifications may be helpful for graduates who want to go into consulting work, and the PhD curriculum may prepare students without certifications to sit for these licensure examinations. However, many doctoral accounting programs do not require certification, as accounting research relies more on quantitative and modeling skills. In addition, a professional accounting designation may not be necessary to pursue academic or research positions. In summary, depending on a student’s career interests and work experience, accounting certification may or may not be necessary.

How long does it take to complete a PhD in Accounting?

The PhD program length depends on the university, but most universities range from four to seven years. Students’ progress depends on their course load, chosen research subject, and academic or professional obligations.

What is the difference between a PhD in Accounting and a DBA in Accounting?

Another option for students who are interested in a doctorate of accounting degree is the Doctor of Business Administration (DBA). Essentially, while a PhD is academically-focused, the DBA is practice-focused. DBA graduates are more interested in changing the industry of business than they are in theoretical business research and academia. Before making a decision on which type of doctoral degree in accounting you wish to pursue, you should carefully consider your career goals and look for programs that will support those goals.

Are PhD students required to teach classes?

Some universities require students to complete teaching practicums in the accounting field. These teaching commitments can range from one course during the program to multiple courses every semester. For students interested in academia, teaching undergraduate and graduate classes can provide work experience. Applicants should research programs and talk to faculty to find a program that best matches their interests and goals.

References: 1. National Center for Education Statistics College Navigator: https://nces.ed.gov/collegenavigator/ 2. Bureau of Labor Statistics, Occupational Outlook Handbook, May 2019 Postsecondary Teachers: https://www.bls.gov/ooh/education-training-and-library/postsecondary-teachers.htm#tab-5 3. Projections Central, Long Term Occupational Projections: https://projectionscentral.org/Projections/LongTerm

• Creator Topic

I know these are two very different things to compare, but from the standpoint of how much they sort of destroy your life during the process, can anyone give some insight? Thanks.

• Author Replies

Would this be a PhD in accounting?

The answer is kind of obvious, unless you're comparing something different like post-degree career, lifestyle, compensation, etc. A CPA can be completed within 3-6 months of finishing your degree requirements… a PhD is a 3-5 year process after undergrad/master's.

PhD is a waste of money unless yorue gonna be a professor..which in turn still requires the CPA quit being a pansy trying to take the easy way out in staying in college forever.

Interesting question, I have some perspective on this. I just finished the CPA exams in June. In addition, I have two brothers- an older brother who is a CPA, and a twin brother who is getting a PhD in Finance at a top 15 school currently. We went to undergrad at the same time and he started the PhD last fall while I completed my masters degree. Sure, the CPA exam is difficult, but honestly its not even close. My brother and I were both very academically talented and breezed through undergrad with very little worry or effort. I was able to do the same through my masters, and although I studied a fair bit for the CPA exam, I made it through pretty easy all things considered. My brother on the other hand, quickly realized the academic level of the PhD at a top school. I would say he averages 75-80 hours a week for most of the semester between homework, research, and other academic responsibilities- more in the last few weeks of the semester. in addition, its a 5 year time commitment from the time you start. Its a grueling 5 years of low paid work. The job prospects after you get done are awesome though. But honestly, I think its only worth it if you are truly interested in a research-intensive position. I would not recommend getting a PhD if you just want to go to a teaching school.

I wouldn't say a PhD is a waste of money. Most, if not all, PhD programs have tuition waived and a stipend paid. It's not much pay while in school, but can be pretty lucrative outside of school.

Yep @Jpj230 , I agree with you. At his school like most others, there is no tuition and a living stipend. So the waste of money comment I will say is out of context and irrelevant. As for being the “easy way out” I will also choose to strongly disagree with you. There is nothing wrong with going academic just like there is nothing wrong with going professional. They are very different routes, but either can be a good fit if you know what you are getting into.

PHD has to be more brutal, I finished the CPA and passed all on the first try with full-time job, wife and young children etc. I don't think I would make it through the first semester of a PHD program.

To be eligible for the CPA you have to have around 150hrs of college for most states.

To get into a legitimate Phd program you will have to have a GMAT of at least 700 with high quantitative scores . You'll also likely need a full year of calculus and some linear algebra. Honestly, a math or statistics background is far more beneficial than a business degree…even if your Phd would be in accounting.

Only have a handful of schools even offer a true accounting Phd, and only an average of 2 students per year are admitted. The overall chances of being admitted to an accounting phd (assuming a high GMAT and relevant math background) are about 2-3%. That means you have a 97-98% chance of rejection. Most of the students are Asian with a much stronger math/stat background than that held by American students.

The MINIMUM time investment for a legitimate Phd from an AACSB school is 4 years…more likely 5-6. But if you can get the degree, you will have a VERY nice life.

Honestly, the CPA is a cakewalk compared to a REAL phd program in ANY business field.

So I have a CPA and I'm in my 2nd year at Ph.D. in Accounting Program. I agree and disagree with what has been said already. – Ph.D. programs do require some math but they care more about work experience in a research area. This is different than Econ and Finance. Most of the Asst Profs in my department are ex-big 4 managers and senior managers. – Yes, it is a lot of work. I may put in 60-70 hours a week but it's on my time. I don't consider reading an article at Starbucks on Wednesday as working. Also, I enjoy the flexibility as opposed to the rigidity of public accounting. – Cost/benefit for a Ph.D. is a big hurdle. You give up prime working years to go back to school. My program is on the high side of pay (40k take home) and is in a low-cost area. – Huge shortage in Accounting Professors has driven up the compensation. My school (in the ACC) pays 220k with an additional 2/9 guaranteed for three years. Didn't believe it till I looked up their pay (public schools have to disclose online). – Lastly, the game of higher education can be rough. Tenure, school placements, and unpredictability with budgets are significant hurdles.

I determined the pay and lifestyle was worth it but you may not.

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Best Accounting Programs

Ranked in 2024, part of Best Business Schools

An accounting MBA readies students for the CPA exam and

An accounting MBA readies students for the CPA exam and jobs in business accounting administration. Students gain skills to become accountants, financial managers, auditors and more. These are the top business schools for accounting. Read the methodology »

For full rankings, GMAT scores and employment data, sign up for the U.S. News Business School Compass .

See online MBA rankings.

Here are the Best Accounting Programs

University of texas--austin (mccombs), university of pennsylvania (wharton), university of illinois urbana-champaign (gies), university of michigan--ann arbor (ross), brigham young university (marriott), university of chicago (booth), stanford university, boston college (carroll), ohio state university (fisher).

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Austin , TX

• # 1 in Accounting
• # 16 in Best Business Schools  (tie)

$51,238 per year (in-state, full-time) TUITION AND FEES

$56,814 per year (out-of-state, full-time) TUITION AND FEES

454 ENROLLMENT (FULL-TIME)

The McCombs School of Business at University of Texas--Austin (McCombs) offers these departments and concentrations... Read More »

Business school

Tuition and fees.

$51,238 per year (in-state, full-time)

$56,814 per year (out-of-state, full-time)

ENROLLMENT (FULL-TIME)

Average gmat (full-time).

Philadelphia , PA

• # 2 in Accounting
• # 1 in Best Business Schools  (tie)

$79,800 per year (full-time) TUITION AND FEES

1,754 ENROLLMENT (FULL-TIME)

The Wharton School at University of Pennsylvania (Wharton) offers these departments and concentrations: accounting... Read More »

$79,800 per year (full-time)

Champaign , IL

• # 3 in Accounting
• Unranked in Best Business Schools

N/A TUITION AND FEES

N/A ENROLLMENT (FULL-TIME)

The Gies College of Business at University of Illinois Urbana-Champaign (Gies) offers these departments and... Read More »

Ann Arbor , MI

• # 4 in Accounting
• # 12 in Best Business Schools  (tie)

$70,392 per year (in-state, full-time) TUITION AND FEES

$75,392 per year (out-of-state, full-time) TUITION AND FEES

734 ENROLLMENT (FULL-TIME)

The Stephen M. Ross School of Business at University of Michigan--Ann Arbor (Ross) offers these departments and... Read More »

$70,392 per year (in-state, full-time)

$75,392 per year (out-of-state, full-time)

• # 5 in Accounting
• # 37 in Best Business Schools

$15,076 per year (full-time) TUITION AND FEES

207 ENROLLMENT (FULL-TIME)

The Marriott School of Business at Brigham Young University (Marriott) offers these departments and concentrations... Read More »

$15,076 per year (full-time)

Chicago , IL

• # 6 in Accounting
• # 3 in Best Business Schools  (tie)

$80,961 per year (full-time) TUITION AND FEES

1,307 ENROLLMENT (FULL-TIME)

The Booth School of Business at University of Chicago (Booth) offers these departments and concentrations: accounting... Read More »

$80,961 per year (full-time)

Stanford , CA

• # 7 in Accounting

$79,860 per year (full-time) TUITION AND FEES

873 ENROLLMENT (FULL-TIME)

The Graduate School of Business at Stanford University offers these departments and concentrations: accounting... Read More »

$79,860 per year (full-time)

Chestnut Hill , MA

• # 8 in Accounting
• # 46 in Best Business Schools

$62,280 per year (full-time) TUITION AND FEES

161 ENROLLMENT (FULL-TIME)

The Carroll School of Management at Boston College (Carroll) offers these departments and concentrations: accounting... Read More »

$62,280 per year (full-time)

Columbus , OH

• # 9 in Accounting
• # 30 in Best Business Schools  (tie)

$30,231 per year (in-state, full-time) TUITION AND FEES

$57,960 per year (out-of-state, full-time) TUITION AND FEES

98 ENROLLMENT (FULL-TIME)

The Max M. Fisher College of Business at Ohio State University (Fisher) offers these departments and concentrations... Read More »

$30,231 per year (in-state, full-time)

$57,960 per year (out-of-state, full-time)

Indiana University (Kelley)

Bloomington , IN

• # 10 in Accounting  (tie)
• # 20 in Best Business Schools  (tie)

$28,992 per year (in-state, full-time) TUITION AND FEES

$54,602 per year (out-of-state, full-time) TUITION AND FEES

219 ENROLLMENT (FULL-TIME)

The Kelley School of Business at Indiana University (Kelley) offers these departments and concentrations: accounting... Read More »

$28,992 per year (in-state, full-time)

$54,602 per year (out-of-state, full-time)

University of Southern California (Marshall)

Los Angeles , CA

• # 18 in Best Business Schools  (tie)

$76,131 per year (full-time) TUITION AND FEES

384 ENROLLMENT (FULL-TIME)

The Marshall School of Business at University of Southern California (Marshall) offers these departments and... Read More »

$76,131 per year (full-time)

New York University (Stern)

New York , NY

• # 12 in Accounting
• # 7 in Best Business Schools  (tie)

$84,180 per year (full-time) TUITION AND FEES

639 ENROLLMENT (FULL-TIME)

The Leonard N. Stern School of Business at New York University (Stern) offers these departments and concentrations... Read More »

$84,180 per year (full-time)

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Arizona State University (W.P. Carey)

• in Accounting
• # 32 in Best Business Schools  (tie)

$29,376 per year (in-state, full-time) TUITION AND FEES

$51,290 per year (out-of-state, full-time) TUITION AND FEES

115 ENROLLMENT (FULL-TIME)

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$29,376 per year (in-state, full-time)

$51,290 per year (out-of-state, full-time)

Bentley University (McCallum)

Waltham , MA

$50,310 per year (full-time) TUITION AND FEES

133 ENROLLMENT (FULL-TIME)

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$50,310 per year (full-time)

Columbia University

$84,496 per year (full-time) TUITION AND FEES

1,512 ENROLLMENT (FULL-TIME)

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$84,496 per year (full-time)

Cornell University (Johnson)

Ithaca , NY

• # 15 in Best Business Schools

$79,910 per year (full-time) TUITION AND FEES

577 ENROLLMENT (FULL-TIME)

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$79,910 per year (full-time)

Creighton University (Heider)

0 ENROLLMENT (FULL-TIME)

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CUNY Bernard M. Baruch College (Zicklin)

• # 53 in Best Business Schools  (tie)

$16,130 per year (in-state, full-time) TUITION AND FEES

$29,970 per year (out-of-state, full-time) TUITION AND FEES

57 ENROLLMENT (FULL-TIME)

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$29,970 per year (out-of-state, full-time)

Duke University (Fuqua)

Durham , NC

$75,000 per year (full-time) TUITION AND FEES

787 ENROLLMENT (FULL-TIME)

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$75,000 per year (full-time)

Emory University (Goizueta)

Atlanta , GA

$71,900 per year (full-time) TUITION AND FEES

237 ENROLLMENT (FULL-TIME)

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MRes/PhD Accounting (Accounting, Organisations and Institutions)

• Graduate research
• Department of Accounting
• Application code N2ZD (AOI track)
• Starting 2024
• Home full-time: Closed
• Overseas full-time: Closed
• Location: Houghton Street, London

The Department of Accounting at LSE is one of the leading groups in the world for teaching and research on the economic, institutional and organisational aspects of accounting and financial management. Our PhD programme provides rigorous academic training aimed at preparing students to undertake research of the highest international standards.

You will benefit from a truly international and interdisciplinary environment. You will have access to a wide range of taught courses and research seminars across different departments and research centres within the School. You will work closely with faculty in the Department throughout the programme, and you will interact with leading scholars from other universities thanks to our active external workshop series. All students admitted to the programme are fully funded, and financial assistance is also available for you to present your work at conferences.

You will be expected to complete the programme within five years. In the first two years, you will take a set of core and elective courses in accounting and related fields and complete a research paper. After the second year, you will focus on your PhD thesis.

Our programme is structured in two tracks: The Accounting, Organisations and Institutions (AOI) track, which is devoted to the study of interrelationships between accounting, organisations and institutions, and the Economics of Accounting (EoA) track , which primarily examines accounting and financial reporting issues from an economics perspective. Below you find more information about the AOI track. For information about the EoA track please click here .

Research in the AOI track is mainly qualitative in approach, focusing on the accounting process within and across organizations. Our intention is that your chosen topic will involve the investigation of how accounting practices are shaped by their institutional contexts, have behavioural consequences and can be vehicles for operationalising different values. Efforts to design internal and external accounting practices are both a function of specific economic and political interests, but are also shaped by social and political aspirations. Research in this track can potentially embrace a wide variety of accounting areas, such as studies in management accounting and organisational control processes, analyses of the impact of new accounting systems in the private and public sector, event-based work on transformations of auditing and risk regulation regimes, historical studies of accounting, as well as broader contributions to social theory.

Faculty supervising students in the AOI track have close links with LSE’s Centre for Analysis of Risk and Regulation (CARR).

Programme details

For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.

Entry requirements

Minimum entry requirements for mres/phd accounting aoi track.

To be considered for admission, you should have a substantial academic background in accounting or a cognate area (for example, economic sociology, organisation studies or economic history).

Students are normally required to have prior training at master’s level. We may exceptionally accept students with outstanding performance in their undergraduate degree.

Competition for places at the School is high. This means that even if you meet our minimum entry requirement this does not guarantee you an offer of admission.

If you have studied or are studying outside of the UK then have a look at our  Information for International Students  to find out the entry requirements that apply to you.

Assessing your application

We welcome applications for research programmes that complement the academic interests of members of staff at the School, and we recommend that you investigate  staff research interests  before applying.

We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:

- academic achievement (including existing and pending qualifications) - statement of academic purpose - references - CV - outline research proposal - sample of written work

See further information on supporting documents

You may also have to provide evidence of your English proficiency. You do not need to provide this at the time of your application to LSE, but we recommend that you do.  See our English language requirements .

When to apply

The application deadline for this programme is 23 May 2024 . However, to be considered for any LSE funding opportunity, you must have submitted your application and all supporting documents by the funding deadline. See the fees and funding section for more details.

Fees and funding

Every research student is charged a fee in line with the fee structure for their programme. The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees 2024/25 for MRes/PhD Accounting (Accounting, Organisations and Institutions)

Home students: £4,829 for the first year (provisional) Overseas students: £22,632 for the first year

The fee is likely to rise over subsequent years of the programme. The School charges home research students in line with the level of fee that the Research Councils recommend. The fees for overseas students are likely to rise in line with the assumed percentage increase in pay costs (ie, 4 per cent per annum).

The Table of Fees shows the latest tuition amounts for all programmes offered by the School.

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification.

Scholarships, studentships and other funding

The School recognises that the  cost of living in London  may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.

This programme is eligible for  LSE PhD Studentships , and  Economic and Social Research Council (ESRC) funding . Selection for the PhD Studentships and ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.  

Funding deadline for first round of LSE PhD Studentships and ESRC funding: 15 January 2024 The deadline for the second round of LSE PhD Studentships: 25 April 2024

The Department of Accounting may also offer departmental scholarships.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas.  Find out more about financial support.

External funding 

There may be other funding opportunities available through other organisations or governments and we recommend you investigate these options as well.

Further information

Fees and funding opportunities

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students . 

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page). 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Programme structure and courses

A PhD in Accounting from LSE consists of six coursework units, completed over two years, followed by a thesis which is usually expected to take a further three years. 

Accounting, Organisations and Institutions (AOI) Track

This track is devoted to the study of interrelationships between accounting, organisations and institutions.

Foundations in Accounting, Organisations and Institutions Emphasises the inter-relations between technical, organisational and institutional issues. While some technical accounting knowledge will be helpful, it is not essential and each lecture will provide the necessary technical foundations.

You will also be required to take a number of courses in Methodology.

Fundamentals of Social Science Research Design Explores design considerations and options across quantitative and qualitative research, including issues of data quality, analysis, reporting and reproducibility.  At the end of the course, you will be able to read a wide variety of empirical social science with a critical and balanced perspective and you will be better equipped to implement and make arguments defending the methods you use in your research.

Qualitative Research Methods (or equivalent with permission) Presents the fundamentals of qualitative research methods. It prepares you to design, carry out, report, read and evaluate qualitative research projects.

Introduction to Quantitative Analysis (or equivalent with permission) An intensive introduction to quantitative data analysis in the social sciences.

Depending on the previous methods training you have undertaken, you will be allowed to replace one or all of the above listed methods courses with more advanced courses.

In addition, you will be required to complete elective courses to the value of 1.0 unit in relevant fields, e.g.:

• The Sociology of Markets (0.5)
• History of Economics: Making Political Economy into a Social Science (0.5)
• History of Economics: Ideas, Policy and Performativity (0.5)
• Monetary and Financial History (1.0) (suspended in 2024/25)
• The Long-Run Analysis of Firms and Industries (0.5)

Or any other graduate- or research-level course available in the School with permission.

Further training and transferable skills courses:

Topics in Accounting Research (AOI) Focuses on the institutional and organisational context of accounting practices in their broadest sense. Seminars are generally based on key readings at the interface between accounting, organisation studies, regulation and management. This course is not examined in the first year, but you are required to attend. The course is examined in the second year.

Department of Accounting Research Forums (ARFs) Accounting, Organisations and Institutions (AOI) Research Seminars and Workshops 

Second year

Topics in Accounting Research (AOI)  

Research Paper in Accounting A research paper of between 6,000 and 8,000 words, related to your designated major field, to be submitted at the end of August of the second year.

You will also be required to complete elective courses to the value of 1.0 unit in relevant fields, including more specialised methods training if not taken above, e.g.:

• Doing Ethnography (0.5)
• Qualitative Text and Discourse Analysis (0.5)

Accounting Work in Progress Seminars This is a non-examined course which all PhD students in Accounting (AOI and EoA tracks) are required to take from Year 2 onwards. You present your work in progress to fellow students and faculty, including drafts/outlines of your Year 2 research paper, and ongoing PhD work thereafter.

Department of Accounting Research Forums (ARFs) Accounting, Organisations and Institutions (AOI) Research Seminars and Workshops

PhD programme

After meeting the progression requirements, you progress to PhD registration and begin to work on your thesis. You will continue to attend the following seminars and workshops:

Topics in Accounting Research (AOI) Accounting Work in Progress Seminars Department of Accounting Research Forums (ARFs) Accounting, Organisations and Institutions (AOI) Research Seminars and Workshops  

You can find the most up-to-date list of optional courses in the Programme Regulations section of the current School Calendar . 

You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.  

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s  Calendar , or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the  updated graduate course and programme information page.

Supervision, progression and assessment

Supervision.

Successful applicants will be assigned two supervisors, a principal and secondary supervisor at the start of the programme.

During the MRes period you will have the opportunity to meet and discuss your research interests with a range of faculty members to help ensure you have the right fit with your supervisors for your PhD. This is designed to expose you to various faculty members within the academic group on a rotation basis and also to provide a more integrated experience where you will have the chance to develop your ideas with junior faculty.

Because of the close relationship between the supervisor and their subject area, you will be able to develop a solid intellectual relationship with an experienced researcher who is directly engaged with, and interested in, your research progress. The direction and guidance you are given occurs through frequent student/supervisor meetings and reviews, as well as discussions of relevant academic issues during seminar presentations by faculty and visiting academics. 

Progression and assessment

Throughout your PhD, progression is monitored via bi-annual progress reviews by the departmental Research Student Assessment Review Committee. The Committee meets each year in January to assess your mid-year progress and in June to assess your end-of-year progress and make decisions on continued registration/de-registration.

During your second year of your PhD, you will undergo a ‘mid-term review’. As part of the mid-term review, you have to submit a solid draft of one complete core chapter, a less developed draft of one further core chapter, as well as a detailed outline for the rest of the PhD thesis with a timeline for completion. You will be provided with an opportunity to defend your submitted written materials orally. The materials will be reviewed by a Departmental Review Committee which will consist of the supervisory team and one internal reviewer drawn from the Department, who has not been involved in your supervision. You need to pass the ‘mid-term review’ to progress to the third year of your PhD studies.

Your final award will be determined by the completion of an original research thesis and a viva oral examination.

More about progression requirements

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.  

Department librarians   – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service  – they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders  – they will be able to assist with queries relating to specific courses. 

Disability and Wellbeing Service  – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as  student counselling,  a  peer support scheme  and arranging  exam adjustments.  They run groups and workshops.  

IT help  – support is available 24 hours a day to assist with all your technology queries.   

LSE Faith Centre  – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.   

Language Centre  – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.

LSE Careers  ­ – with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library   –   founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE  – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’). 

LSE Students’ Union (LSESU)  – they offer academic, personal and financial advice and funding.  

PhD Academy   – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice   – this   offers discounted private dental services to LSE students.  

St Philips Medical Centre  – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.

Student Services Centre  – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advisers   – we have a  Deputy Head of Student Services (Advice and Policy)  and an  Adviser to Women Students  who can help with academic and pastoral matters.

Student life

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective. 

Student societies and activities

Your time at LSE is not just about studying, there are plenty of ways to get involved in  extracurricular activities . From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from. 

The campus 

LSE is based on one  campus  in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community. 

Life in London 

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more. 

Want to find out more? Read why we think  London is a fantastic student city , find out about  key sights, places and experiences for new Londoners . Don't fear, London doesn't have to be super expensive: hear about  London on a budget . 

Student stories

Nadine de gannes (2018, ivey business school).

The PhD journey for me was one of discovery. Personally, I unearthed the depths of my work ethic and perseverance. In focusing intently upon a particular area of study and questioning what was known and puzzling over what remained unknown, I discovered the types of questions I wanted to ask, and how I wanted to go about finding the answers. Both methodology and methods training are central pillars in doctoral research, and the Department of Accounting enabled these in spades. I was never left wanting for opportunities to enhance skills that were critical to the successful completion of my thesis. There was also no shortage of outstanding academics to challenge and inspire critical thinking and discussion. The PhD was not an easy road, but undoubtedly one that I believe was worthwhile.​

Take a look at the department webpages for further student stories .

Students who successfully complete the programme often embark on an academic career.

Further information on graduate destinations for this programme

Support for your career

Throughout the programme, you are expected to participate in departmental research seminars, forums, workshops and internal brownbags enabling you to grow familiar with the process of presenting and discussing academic papers with experienced faculty, and provide opportunities for networking. Funding is also available for you to attend and present papers at academic conferences.

LSE Careers has a team dedicated to PhD students offering a wide range of resources and advice. You will receive regular updates on career events and workshops offered by LSE Careers and the LSE’s PhD Academy.

The Department aims to give all doctoral students the opportunity to teach during the programme. Developing teaching skills and experience is an important component of the students' career development and prepare you for future academic roles. To make this experience as valuable as possible we draw on the support of LSE's Eden Centre .

Find out more about LSE

Discover more about being an LSE student - meet us in a city near you, visit our campus or experience LSE from home. 

Experience LSE from home

Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus.  Experience LSE from home . 

Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour.  Find out about opportunities to visit LSE . 

LSE visits you

Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders.  Find details on LSE's upcoming visits . 

How to apply

Download programme brochure

Register your interest

Related programmes, mres/phd accounting (economics of accounting).

Code(s) N2ZE (EA track)

MRes/PhD Finance

Code(s) N4ZC

Request a prospectus

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Chartered Accountant vs. CPA: Which is Best For You?

Deciding between becoming a Chartered Accountant (CA) and a Certified Public Accountant (CPA) is pivotal for your accounting career. CAs are globally recognized for their auditing and financial reporting expertise, while CPAs specialize in US tax and accounting standards. This choice hinges on your accounting focus, education, location, and career goals.

So how do these certifications compare?

According to the American Institute of CPAs , the world boasts over 431,000 licensed CPAs. Contrast this with the 1.8 million Chartered Accountants worldwide, as reported by the Institute of Chartered Accountants in England and Wales . These figures underscore the broad landscape of accounting professionals and highlight the importance of choosing a path that aligns with your career aspirations and geographic preferences.

Whether you’re leaning towards the global reach of the CA designation or the widespread recognition of the CPA in the United States, understanding these differences is crucial in making an informed decision that will shape your future in the accounting profession.

Key Takeaways

• Scope of Work: Chartered Accountants are experts in auditing, financial reporting, and strategic business advice, catering to a global audience. Certified Public Accountants specialize in US tax and accounting standards, crucial for roles that demand a thorough understanding of US financial regulations.
• Certification and Education: CAs are certified through comprehensive training and exams by international accounting bodies. CPAs must attain a bachelor’s degree, complete 150 semester hours of education, pass the Uniform CPA Exam, and satisfy specific experience requirements.
• Client Representation: Both CAs and CPAs can represent clients financially, but CPAs have the exclusive authority to audit financial statements and provide assurance services in the US.
• Career Opportunities: CAs enjoy widespread international career opportunities due to their global certification. CPAs are sought after in the US, with opportunities in public accounting, corporate finance, and more available year-round.
• Salary Potential: Certified Public Accountants in the US have an average annual salary of around $122,000, reflecting the lucrative roles available due to their specialized knowledge and certification. Chartered Accountants’ salaries vary globally; in Canada, the median salary is about $80,000, while in the US, they can earn an average of $117,255.

Chartered Accountant vs. CPA: Role Comparison

Chartered accountants.

Chartered Accountants hold a prestigious CA designation recognized across various countries, achieved after passing rigorous exams and completing required practical experience under the auspices of national accounting bodies like the Institute of Chartered Accountants in England and Wales ( ICAEW ) or the Institute of Chartered Accountants of India ( ICAI ).

CAs are known for their comprehensive understanding of international accounting and auditing standards, tax regulations, and financial management principles. They adhere to a strict code of ethics and are required to engage in continuous professional development to keep their knowledge and skills current, ensuring they can navigate the complexities of the global financial landscape effectively.

Their expertise is crucial for strategic financial planning, tax preparation, ensuring compliance with financial regulations, and offering insights that contribute to sound business decisions. The CA qualification is particularly valued in countries that follow the Commonwealth system and holds significant weight in the international accounting community.

Certified Public Accountants

Certified Public Accountants are finance and accounting professionals who have passed the CPA exam and met the certification requirements set by their state’s board of accountancy in the United States.

Endorsed by the American Institute of Certified Public Accountants ( AICPA ), the CPA credential authorizes professionals to perform specialized tasks such as detailed audits, preparation of audited financial statements, and representation of clients before the Internal Revenue Service (IRS).

As a financial professional, a CPA possesses expertise in various domains of accounting, including but not limited to tax preparation, financial reporting, and strategic business finance planning. They are bound by a stringent code of ethics and are required to complete continuing education credits to maintain their certification, ensuring their proficiency with evolving accounting standards and practices.

Often employed by accounting firms or operating their own practices, CPAs provide a broad range of accounting services to businesses and individuals, playing a key role in tax advisory, cash flow management, and the financial well-being of their clients.

Key Differences and Similarities Between CPAs and CAs

While both Chartered Accountants and Certified Public Accountants are equipped to handle financial transactions, prepare financial statements, and offer advisory services, key differences lie in their geographical focus, the regulatory environments they specialize in, and the paths to obtaining these credentials.

CAs often have a more international perspective on accounting principles, with qualifications recognized in different countries, whereas CPAs specialize in U.S. accounting and tax laws. Despite these differences, both CAs and CPAs are highly respected in the accounting profession, with strong demand for their skills in various industries and the ability to serve multiple clients with complex accounting needs.

Chartered Accountant vs. CPA: Educational Requirements

The educational pathways for Chartered Accountants and Certified Public Accountants are distinct, reflecting each role’s unique responsibilities and complexities.

• Academic Qualifications : Aspiring CAs must undergo a combination of academic education and professional training. This typically involves earning an undergraduate degree in accounting or a related field, followed by enrollment in a chartered accountancy program offered by a recognized accounting body in their country, such as the ICAEW or ICAI.
• Professional Examinations : Candidates are required to pass a series of professional exams that cover a broad range of topics, including but not limited to financial accounting, auditing, tax law, and business strategy.
• Practical Experience : In addition to passing exams, CAs must complete a period of practical experience, working under the supervision of qualified professionals to gain hands-on expertise in accounting practices.
• 150 Semester Hours of Education : CPAs in the U.S. must complete 150 semester hours of education, which usually includes a bachelor’s degree and additional coursework to meet the requirement, potentially through a master’s degree.
• Uniform CPA Examination : The CPA exam is a comprehensive test administered by the AICPA covering auditing, business concepts, financial accounting, and regulation.
• Continuing Education : CPAs are required to earn continuing education credits regularly to maintain their certification, ensuring they stay current with evolving standards and practices.

While both CAs and CPAs undergo rigorous educational and testing processes, the specific requirements are tailored to their respective jurisdictions’ accounting standards and practices.

CAs typically focus on a broader international perspective, whereas CPAs are specialized in U.S. accounting and tax regulations. Both paths demand a significant commitment to education, examination success, and ongoing professional development to achieve and maintain their qualifications.

Scope of Work and Career Opportunities

Chartered accountant work.

CAs are equipped to perform a wide array of accounting tasks on a global scale, including auditing, tax advisory, financial reporting, and management accounting. Their comprehensive training allows them to navigate international financial regulations and offer strategic business advice.

CAs find opportunities in public accounting firms, multinational corporations, and various sectors needing expertise in international accounting standards and practices. Their qualification opens doors to roles in financial management, consultancy, and senior executive positions, offering a broad career trajectory with potential for international assignments.

Certified Public Accountant Work

CPAs specialize in US-specific financial tasks, such as conducting detailed audits, representing clients before the IRS, and providing tax advisory services. Their expertise in US tax laws and financial regulations makes them pivotal in strategic financial planning and reporting.

Those traveling the CPA path are highly sought after in the United States across public accounting firms, corporate finance departments, government agencies, and non-profits. They often rise to positions like CFO, tax advisor, or partner in accounting firms, benefiting from a strong demand for their specialized knowledge in US accounting and tax regulations.

CPA vs. Chartered Accountant Salaries

When evaluating career paths in accounting, salary is a significant factor. Both Chartered Accountants and Certified Public Accountants command competitive salaries, reflecting their expertise, qualifications, and the demand for their services. However, compensation can vary widely depending on geographic location, experience, and the specific industry in which they work.

In the United States, entry-level Certified Public Accountants start with an average salary of around $59,000. This figure increases with experience, reaching an average of approximately $97,000 . Highly experienced CPAs can earn upwards of $123,000 to well over $200,000, reflecting the profession’s lucrative potential for those who advance in their careers.

The specialized knowledge of Certified Public Accountants in US tax law, auditing, and financial reporting, coupled with their stringent certification requirements, positions them for highly paid roles in accounting firms, corporations, and government agencies.

The salary for Chartered Accountants, on the other hand, can significantly differ based on the country of employment, reflecting the global scope of the CA designation. In Canada, the median salary for Chartered Accountants is approximately $80,000 . Meanwhile, in the United States, Chartered Accountants can earn an average salary of $117,000, according to Glassdoor , and over $200,000 for highly experienced CAs.

These figures underscore the strong demand for Chartered Accountants globally, attributed to their comprehensive skill set, including analytical and technical capabilities, communication, time management, and problem-solving skills.

Why Transition from CA to CPA? Insights from Industry Professionals

The decision to transition from a Chartered Accountant to a Certified Public Accountant in the United States is significant, with various factors influencing this career move. First-hand accounts from industry professionals on platforms like Reddit highlight the global demand for experienced US CPA holders, shedding light on the practical benefits and considerations of obtaining this certification.

One Reddit user emphasized the global appeal of US CPA credentials, stating, “From what I’ve seen…the rest of the world highly desires experienced US CPA holders.” This perspective underscores the value placed on US CPA certification internationally, not just within the United States.

However, the relevance of a CPA certification can vary depending on the specific accounting practices and regulations of the country in which one intends to work. As another user points out, “US CPA will substantially only cover US GAAP and US tax code which is only relevant for companies that need US GAAP financial statements or file US tax returns.” This highlights the importance of considering the scope of work and the geographical location of your career when deciding to pursue a US CPA certification.

Despite these considerations, the knowledge gained from pursuing a US CPA is not seen as a wasted effort. The same user adds, “There are many similarities between US GAAP, IFRS, and other foreign GAAP codification, so it wouldn’t be a complete waste...” This suggests that the skills and knowledge acquired through achieving a US CPA can be beneficial, even if one’s career doesn’t strictly adhere to US accounting standards.

Moreover, the strategic advantage of having a US CPA certification, regardless of immediate plans to work under US standards, is highlighted by the advice to take advantage of educational programs and CPA study material that prepares students for the exams. “If that is an opportunity available to you, then you absolutely should not waste it...the scores lock in forever once you pass all 4, so you’ll have flexibility and give yourself more opportunities in the future.” This advice points to the long-term benefits of securing a US CPA certification, offering flexibility, and opening up more opportunities in the global job market.

Choosing between becoming a CPA or a CA significantly influences the direction of an accounting career. CAs are globally recognized for their expertise in auditing and financial reporting, catering to an international market. CPAs specialize in US tax and accounting standards, which are essential for financial strategy and compliance within the US.

This comparison has highlighted the distinct roles, educational paths, and career opportunities each designation offers. The decision between a CA and a CPA depends on personal career objectives, desired accounting focus, and geographic career plans.

Insights from industry professionals underscore the global demand for US CPA holders, noting the certification’s broad applicability and strategic advantage in the job market. Despite the CPA’s focus on US standards, its principles offer valuable knowledge applicable worldwide, making it a flexible and advantageous credential for accountants aiming for international careers.

What are the main differences between a CA and a CPA?

The main differences lie in their geographic scope and specialization. Chartered Accountants (CAs) have global recognition with a focus on auditing, financial reporting, and providing strategic business advice, making them ideal for international careers. Certified Public Accountants (CPAs) specialize in US tax and accounting standards, playing a crucial role in financial strategy and compliance within the United States.

Can a CA work in the US, and can a CPA work internationally?

Yes, a CA can work in the US, especially in multinational companies that operate globally and require expertise in international financial reporting standards. However, they may need to meet additional requirements depending on the state. Similarly, CPAs can work internationally, particularly in countries or companies that deal with US financial transactions or require knowledge of US GAAP, though they might also need to comply with local certifications or regulations.

How do the educational paths for CA and CPA compare?

To become a CA, individuals typically undergo a combination of academic education and professional training, including passing rigorous exams and completing practical experience under a recognized accounting body. For CPAs, the path involves completing 150 semester hours of education, usually including a bachelor’s degree and additional coursework, passing the Uniform CPA Examination, and meeting specific experience requirements.

Is it beneficial for a CA to also become a CPA?

Yes, obtaining a CPA certification in addition to being a CA can provide a significant advantage, especially for those looking to expand their career opportunities in the US or with US-based firms. The CPA designation is highly regarded globally and offers a strategic advantage in the job market, enhancing an accountant’s flexibility and potential for international roles.

What are the career opportunities for CAs and CPAs?

CAs have a wide range of career opportunities across various industries globally, including public accounting, financial management, and consultancy. CPAs also enjoy diverse career paths but are particularly valued in the US for roles requiring in-depth knowledge of US tax laws and accounting standards, such as in public accounting firms, corporate finance departments, and government agencies. Both designations allow for specialization and can lead to high-level positions such as CFO or partner in an accounting firm.

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