Ph.D. in Accounting Programs

A practicing accountant looking to teach college students or lead research teams needs a Ph.D. in accounting. This doctoral program requires about five years of study, including core coursework, a concentration, a research methodology course sequence, and a dissertation.

Accounting is one of humanity's oldest professions, dating back to the ancient people who bartered goods in the Fertile Crescent 12,000 years ago. Today, this billion-dollar industry employs highly educated professionals who use cutting-edge technology to solve complex problems affecting every facet of modern life.

While accountants and auditors typically need bachelor's or master's degrees, earning a Ph.D. may offer the path forward for a practicing accountant looking to teach or contribute research to the field. According to a survey by The CPA Journal, 67% of accountants had considered pursuing Ph.D. programs due to the heavy demand for accounting professors.

Explore the following guide to learn more about what to expect from a Ph.D. in accounting, including details on concentrations, typical costs, admissions, and common coursework.

What to Expect From an Accounting Doctoral Degree

Graduates with Ph.D. degrees in accounting are intellectual leaders in the field. This research-oriented degree offers opportunities for personal growth and career development. After completing the program, graduates can pursue careers as college professors, accounting executives, and researchers.

A doctorate in accounting usually begins with 2-3 years of full-time coursework, followed by another two years writing a dissertation. This final research project must contribute new knowledge or perspectives to the field. The entire degree should take about five years.

Many students who begin accounting Ph.D. degrees already hold master's degrees in accounting or related disciplines. Some universities may accept graduate credits from other regionally accredited schools for transfer, which can shorten their time to graduation.

Concentration Options

Many doctoral programs in accounting are designated as Ph.D. degrees in business or management with a concentration in accounting. Some schools also offer a professional degree, like the doctor of business administration, with a specialization in accounting. However, several universities offer a Ph.D. in accounting with various sub-disciplinary concentration options, including those listed below:

• Auditing and Forensic Accounting: Auditing researchers protect organizational and financial integrity. They explore biases, governance, compliance, independence, and auditing processes.
• Taxation: A taxation concentration provides research opportunities in transfer pricing, multistate taxation, economic incentives, and compliance with tax enforcement.
• Accounting Management: In this sub-discipline, researchers explore how governments, corporations, and individuals use accounting, along with the potential consequences of their accounting behaviors.
• Financial Accounting: Financial accounting researchers examine how creditors, investors, analysts, and other decision-makers apply accounting information in their work. Research topics in this field may include the relevance and reliability of accounting information regulations.

Admissions Process

Admission to a Ph.D. in accounting depends on each university's specific requirements. However, the following prerequisites are often expected:

• A bachelor's degree (some doctorates may require a master's degree)
• A master's degree or undergraduate major in business or accounting (some schools may accept other majors)
• A GPA of 3.0 or higher
• Acceptable GMAT or GRE scores (some schools waive these tests)
• Previous coursework in accounting, microeconomic theory, econometrics, and mathematics

Usually, each prospective student must complete an application, write an essay, submit a resume, and provide 2-3 letters of support from academic or professional references.

Popular Accounting Ph.D. Courses

A Ph.D. typically comprises major and minor coursework, a series of classes in research methodology, and a dissertation. Course options can be more flexible at this academic level, and some schools may give students individual degree plans depending on their previous education.

After completing all required coursework and passing the comprehensive exam, doctoral students proceed to Ph.D. candidacy. Sometimes, this step is called "ABD": "all but dissertation." The dissertation, a Ph.D. student's capstone project conducted under a university professor's direction, should produce original research relevant to accounting.

How Much Do Accounting Ph.D. Programs Cost?

According to the National Center for Education Statistics (NCES), the average annual tuition for a research doctorate in a business or management field is $16,659. Actual costs vary widely from this average, depending on a school's prestige, public or private status, and your residency. Fees and other costs can increase the overall budget for Ph.D. students.

Financing options like scholarships, fellowships, employer reimbursements, and student loans can help enrollees pay for their online Ph.D. programs. In-person learning often comes with teaching or research assistantships that cover tuition and provide a small living stipend in exchange for university-based work.

Should You Get Your Degree Online?

NCES reports that, in 2021, most graduate students took at least one course online, and about 40% learned entirely from a distance. While studying something like lab science might challenge the limits of online course delivery, accounting doctoral degrees are particularly suited to the online learning experience.

When deciding whether pursue your Ph.D. online, consider your background, resources, and post-graduation plans. For example, are you an experienced professional, or are you a recent business school graduate?

Do you have the money to pay for an online degree? Do you want to take a career break to go to school? Are you looking to teach at a research university or a regional college? Your answers may determine what kind of program you want to undertake.

Accounting Jobs and Salaries

After earning a doctorate in accounting, you can pursue a career as a top executive at an accounting firm, a financial analyst at a government agency, or a professor at a college or business school.

Most people who earn Ph.D. degrees aspire to be tenure-track college professors, a much higher-than-average paying job. Payscale data from May 2024 indicates that U.S. accounting professors earned an average of $92,370 per year.

Selecting the Right Ph.D. in Accounting

When choosing your Ph.D. in accounting, you should consider more than just tuition and admission requirements. Consider these additional key factors when choosing programs:

• Accreditation: Only consider programs from accredited institutions. You may also prioritize degrees with programmatic accreditation from the Accreditation Council for Business Schools and Programs or other business-focused accrediting agencies.
• Delivery Method: Are you looking for an online-only program or a hybrid degree? Do you prefer synchronous or asynchronous learning experiences?
• Available Concentrations: A concentration may help focus your research and subsequent opportunities for teaching or leadership.
• Research Opportunities: At its core, a Ph.D. is a research degree, so ask if your prospective university can support your research question and guide your dissertation experience.
• Alumni Network: An alumni network can make the transition from school to career much easier. Ask about the memberships and activities of the business school and university-wide alumni associations.

Common Questions About Accounting Doctorates

How much can you make with a Ph.D. in accounting?

According to the BLS, accountants and auditors earned a median annual wage of $79,880 as of May 2023. Financial analysts, management analysts, and financial examiners earned slightly higher salaries. With Ph.D. degrees, they could also pursue careers as postsecondary teachers, for which the BLS reports a median income of $84,380 per year.

How many years is a Ph.D. in accounting?

Full-time students usually take five years to complete a Ph.D. in accounting — three years of coursework and two of dissertation research and writing. Students entering with master's degrees or individuals attending school part time may need more or less time. Many schools cap the Ph.D. experience at seven years.

How hard is it to get a Ph.D. in accounting?

A Ph.D. in any subject is a long and rigorous academic journey concluding with research that adds new knowledge to the discipline. While accounting may not be as challenging as some theoretical STEM fields, it could be more difficult than other subjects that do not require an understanding of complex law and mathematics.

Can you do a Ph.D. after CPA?

Yes — you can earn a Ph.D. after finishing CPA requirements. The CPA is a state-issued license to practice public accounting, while the Ph.D. is an academic degree conferred by a university. You might find great personal satisfaction and professional value in holding both credentials.