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What Is Accounting?
Before we dive into our list of the best accounting schools, we need to define what accounting is. Many schools offer programs in the field of business or finance that might cover accounting but not to the depth that an aspiring accountant may strive for.
Merriam-Webster defines accounting as “the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results.” In simpler terms, accounting involves keeping track of the numbers in finances. If you’re involved in buying or selling, you’re engaging in some form of accounting by tracking these financial exchanges.
Of course, there are many different types of accounting, and while I won’t get into the nuances of it all, you’d be surprised by the fields in which accounting is invaluable. From managerial accounting to forensic accounting to cost accounting, the career opportunities for accounting program graduates are unparalleled.
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Accounting vs Business Administration
Accounting and business administration are distinct fields within business studies. Accounting focuses on accuracy and compliance in financial reporting. It provides essential data for financial decision-making, and many accounting degrees often incorporate decision-making or risk-management terminology into their program names. The math involved in an accounting program also makes it a bachelor of science as opposed to a bachelor of arts.
Business administration, however, encompasses a broader scope, including management, marketing, operations, and strategic planning. Business administrators oversee organizational activities, develop strategies, and manage resources to achieve business objectives. Most business administration degrees are bachelor’s of arts.
While accounting ensures financial integrity, business administration optimizes overall business performance, making both fields complementary and crucial to an organization’s success.
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Schools With the Best Accounting Programs
The following ten liberal arts universities all excel in preparing their graduates to land lucrative careers with the highest-paying corporate firms following graduation. As renowned business schools, all of them will set you well on your way to obtaining Certified Public Accountant (CPA) licensure through the CPA exam so that you can start changing the world, one financial record at a time.
Methodology
For many aspiring accountants, the CPA exam is a crucial part of their careers. Thus, a major factor in the ranking of the following schools is the CPA pass rate of their graduates. In addition to this rate, I have also looked at job placement rates and starting salaries to further evaluate the quality of graduates from each school.
To generate a more well-rounded view of each accounting program within the context of its environment, I have further evaluated the cost and campus life opportunities at each school. US News & World Report, Prep Scholar, and The Big 4 Accounting Firms have been consulted.
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1. University of Texas – Austin, TX
The University of Texas at Austin, renowned for its McCombs School of Business, has the best accounting program in the US, according to the US News & World Report. Whether you’re pursuing undergraduate degrees or graduate programs, the McCombs accounting program offers rigorous coursework and exceptional faculty, preparing students for successful careers in accounting.
The McCombs School also offers a plethora of student organizations, such as the Undergraduate Business Council and the Accounting Society, which provide opportunities for leadership, professional development, and social engagement. This combination of a rigorous accounting core and professional support makes UT Austin a premier choice for aspiring accountants.
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2. University of Illinois Urbana-Champaign – Champaign, IL
The University of Illinois Urbana-Champaign’s Gies College of Business is celebrated for its top-tier in-person and online accounting programs. They feature a cutting-edge curriculum infused with data analytics and practical experience, as emphasized by the fact that 100% of undergraduate students participate in experiential learning.
This College of Business offers various experiential learning opportunities, such as internships in financial accounting or partnerships with business law firms. Outside of academics, local arts festivals and a student-centered Campustown ensure students here enjoy a healthy school-life balance.
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3. Brigham Young University – Provo, UT
The first private school on our list, Brigham Young University’s Marriott School of Business in Utah, is renowned for its exceptional accounting program and is consistently ranked among the top in the nation. The program features a rigorous core curriculum, including the intensive Accounting Junior Core, which equips students with strong technical and ethical foundations. A job placement rate of 96% in 2023 further highlights the employability of this top accounting program.
The campus culture at BYU, heavily influenced by the Church of Jesus Christ of Latter-day Saints, is known for its emphasis on integrity, community, and leadership. The university’s vibrant, faith-based environment fosters a supportive and collaborative atmosphere, making it an ideal setting for any student.
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4. University of Michigan – Ann Arbor, MI
The University of Michigan’s Ross School of Business in Ann Arbor offers a prestigious accounting program. Its comprehensive graduate program curriculum integrates MBA electives to prepare students for professional accounting. Furthermore, the opportunity to concentrate on Accounting Analytics enables Ross students to hone their skills in data analytics.
The Ross School of Business also provides numerous experiential learning opportunities, such as the innovative Multidisciplinary Action Projects (MAP). Students have also undertaken critical professional growth at the EY Accounting and Public Policy Symposium in Washington, D.C., citing networking success to kickstart their accounting careers early on.
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5. University of Pennsylvania – Philadelphia, PA
The University of Pennsylvania’s Wharton School is one of the US’ best business schools and has produced the most billionaires, as ranked by Forbes. Within its renowned business school lies an accounting program that integrates foundational accounting principles with advanced financial analysis to a quality that few can compete with. Wharton’s emphasis on experiential learning includes opportunities such as internships, global immersion programs, and the Wharton Industry Exploration Program.
The campus culture at Wharton is vibrant and entrepreneurial, with a strong focus on innovation and collaboration. Numerous student organizations, such as the Accounting Society and Wharton Women, provide platforms for professional development and community engagement.
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6. Indiana University – Bloomington, ID
Indiana University Bloomington’s Kelley School of Business offers a highly regarded accounting program known for its strong foundation in accounting concepts and practical experience. The program stresses a flexible and up-to-date curriculum to keep in stride with the latest trends, tools, and technologies. Accounting graduates from Kelley will thus be highly employable, as proven by their 100% rate for job offers within 90 days of graduation.
Kelley also offers unique opportunities such as the Business Honors Program, study abroad programs, and professional development. The campus culture at IU Bloomington is vibrant and inclusive, with numerous student organizations like the National Association of Black Accountants and professional organizations like the American Accounting Association promoting networking and community engagement.
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7. Ohio State University – Columbus, OH
Ohio State University’s Fisher College of Business offers a distinguished accounting department that is fully accredited at both the undergraduate and graduate levels. Students engage in hands-on learning through internships and the FisherDirect program, which includes networking events, mentoring, and guest speaker series.
The Buckeye spirit is strong in every department at Ohio State University, and Fisher students will be excited to experience the Homecoming Parade and O-H-I-O chant at all the biggest sports games of the season. With 580,000 alumni across the world, Ohio State University prides itself on cultivating unbreakable bonds and a true value for the community in all its graduates.
“There’s studying business and there’s experiencing it.” – Fisher College of Busine