Top 10 Accounting PhD Programs

For those aiming to push the boundaries of accounting theory and practice, pursuing a doctoral degree in accounting is the ultimate academic pursuit. Among the leading institutions offering such advanced programs, the University of Texas at Austin and the University of Illinois at Urbana-Champaign stand out for their exceptional contributions to the field of accounting education and research.

The University of Texas at Austin

The University of Texas at Austin’s McCombs School of Business is widely regarded as one of the best places in the country to pursue a PhD in accounting. According to the Public Accounting Report (PAR), McCombs has been ranked No. 1 in accounting across all levels — undergraduate, graduate, and doctoral — in the 2010 rankings, further solidifying its reputation as a leader in accounting education. This ranking highlights the long-standing tradition of excellence at McCombs, a program that has consistently been at the top of the field for decades. Since 1994, McCombs has been ranked in the top four accounting doctoral programs in the United States, and it has secured the No. 1 position in six of the eight surveys leading up to 2010.

The McCombs School of Business’s accounting program is distinguished by its blend of rigorous academic standards and real-world relevance. Doctoral students at McCombs engage in a curriculum that emphasizes both theoretical foundations and practical applications of accounting concepts. The program is research-intensive, encouraging students to explore new ideas, develop innovative theories, and contribute to the advancement of accounting research. McCombs offers a comprehensive array of specializations, including financial accounting, managerial accounting, auditing, and taxation, allowing students to tailor their research to areas of personal interest while benefiting from the diverse expertise of the faculty.

What sets McCombs apart is its unmatched commitment to both research and teaching. According to the 2010 PAR survey, McCombs was ranked No. 1 in doctoral program rankings for both research and teaching, an extraordinary achievement that underscores the institution’s dual commitment to producing scholars who can make significant contributions to accounting research and provide high-quality education to future generations of students. The faculty at McCombs includes some of the most influential and well-published scholars in the field, whose work has shaped major areas of accounting theory, policy, and practice. Their research serves as a guidepost for students, and doctoral candidates are actively involved in research projects from the very beginning of their academic journey.

Furthermore, McCombs’ doctoral program is deeply embedded in a collaborative research culture that facilitates the exchange of ideas among faculty, doctoral students, and visiting scholars. This network not only provides students with opportunities to engage in high-level research but also ensures that they are well-prepared for academic positions at other prestigious institutions upon graduation. McCombs has a well-established track record of placing its PhD graduates in top-tier universities and research organizations, a testament to the program’s standing as one of the best in the country.

The University of Illinois at Urbana-Champaign

Just behind McCombs, the University of Illinois at Urbana-Champaign is recognized as one of the leading institutions in accounting doctoral education. According to the Public Accounting Report’s 29th Annual Professor's Survey (2010), Illinois was ranked second in the United States for its doctoral program, placing just behind the University of Texas at Austin. The university’s Department of Accountancy is renowned worldwide for its high-quality research, exceptional teaching, and extensive public engagement. It has earned a prominent place in the academic accounting community by consistently producing influential scholars and groundbreaking research that shapes both academic discourse and real-world accounting practice.

The Department of Accountancy at Illinois has a long history of excellence in research and teaching, and it has cultivated a reputation as a world leader in the field. In the 2010 PAR survey, Illinois was ranked 2nd in terms of teaching excellence and 4th in research, further reflecting the department’s strength in both training the next generation of accounting scholars and advancing the academic body of knowledge. The faculty at Illinois is widely regarded as one of the most distinguished in the field, with many faculty members holding leadership roles in prominent academic journals and professional organizations. Their expertise spans a wide array of accounting topics, including financial accounting, auditing, managerial accounting, taxation, and accounting information systems.

A distinguishing feature of Illinois' accounting doctoral program is its focus on research that is both rigorous and relevant to current issues in the accounting profession. Doctoral students are encouraged to pursue original research that addresses critical topics, such as the role of accounting in corporate governance, the impact of financial reporting on investment decisions, and the relationship between accounting practices and economic policy. The university’s strong emphasis on research methodology ensures that students graduate with the analytical and methodological skills needed to conduct high-quality research that can influence the direction of the accounting profession.

Like McCombs, Illinois also places a strong emphasis on the professional development of its doctoral students. The program is designed to provide students with a balanced education in both theory and practice, with opportunities for collaboration across disciplines and exposure to real-world accounting challenges. Students are encouraged to engage with faculty and industry professionals, which not only helps them refine their research but also enhances their understanding of the practical applications of accounting principles. This holistic approach ensures that Illinois doctoral graduates are well-prepared for faculty positions at top academic institutions and research roles in both the public and private sectors.

The Importance of Research and Teaching Excellence

Both the University of Texas at Austin and the University of Illinois at Urbana-Champaign place significant emphasis on research and teaching excellence, a combination that has earned both institutions their high rankings in the Public Accounting Report survey. These two universities have consistently demonstrated that academic rigor, combined with a commitment to high-quality teaching, can create an environment where future accounting scholars thrive.

The importance of research in these doctoral programs cannot be overstated. Accounting, as a discipline, is constantly evolving, and it is the research conducted at top-tier institutions that drives innovation and change. Both McCombs and Illinois have fostered environments where new ideas can flourish, and their doctoral students are at the forefront of contributing to the profession’s development. Through their research, these institutions have helped shape key areas of accounting theory, including financial reporting, auditing standards, and the relationship between accounting practices and corporate performance.

Moreover, the emphasis on teaching excellence is equally important. By training doctoral students to become outstanding educators, these programs ensure that the next generation of accounting professionals is equipped with the knowledge and skills to pass on to future students. Teaching is an integral part of the doctoral program, as it not only helps students develop a deep understanding of accounting concepts but also equips them with the pedagogical skills necessary to thrive in academic careers.

A Global Perspective

While the Public Accounting Report rankings are specific to the United States, the global impact of these institutions cannot be ignored. Both the University of Texas at Austin and the University of Illinois at Urbana-Champaign attract talented students and faculty from around the world. Their research output and academic reputation extend far beyond the borders of the United States, making them influential institutions in the international accounting community. Graduates of these programs often go on to assume leadership roles in universities, think tanks, and professional organizations around the globe, contributing to the development of accounting research and practice on an international scale.

Top 10 Doctoral Programs - Teaching:
1 University of Texas-Austin
2 University of Illinois at Urbana Champaign
3 Stanford University
4 University of Chicago
5 University of Michigan
6 Harvard University
7 Indiana University
8 Michigan State University
9 University of Washington
=10 Cornell University
=10 Ohio State University

Top 10 Doctoral Programs - Research:
1 University of Texas-Austin
2 University of Chicago
3 Stanford University
4 University of Illinois at Urbana Champaign
5 University of Michigan
6 Wharton School of the University of Pennsylvania
7 University of Washington
8 University of North Carolina at Chapel Hill
9 Harvard University
10 Indiana University
Source: Public Accounting Report (November 15, 2010)