Ph.D. in Accounting Programs

A doctorate in accounting represents the highest possible level of academic achievement. Students and professionals often choose to pursue a doctoral degree to prepare for advanced careers in academia, research, or government. However, an accounting doctorate can also open doors to high-level roles in the private sector.

As the Texas Society of CPAs notes, most accounting students and professionals are not as familiar with doctoral programs as they are with bachelor's and master's degrees in accounting.

This guide intends to bridge that knowledge gap. Use it to learn about the focus, features, and career outcomes associated with the doctoral pathway.

What to Expect From a Doctorate in Accounting

Unlike bachelor's and master's programs in accounting, doctoral programs do not typically focus on accounting methods or professional practices. Instead, they place much more emphasis on research. Some of the research topics you can explore include:

• Interactions between accounting practices, business decisions, and business outcomes
• Accounting policy and its organizational impacts
• Organizational behavior with respect to accounting and auditing practices

In addition to their accounting curricula and research requirements, doctoral programs may also include advanced coursework in relevant adjacent areas. Examples include organizational behavior, economics, finance, and statistical analysis.

Doctoral programs in accounting vary widely in length, but many students finish their programs in 4-5 years. This includes about 2-3 years for coursework and around 1-2 years to fulfill doctoral thesis or dissertation requirements.

Concentration Options

Doctorates in accounting usually offer students many ways to customize their learning around individual interests. In addition to research and dissertation components, these opportunities also extend to electives. Programs may also include formal concentration options or minors in areas such as:

• Behavioral or quantitative marketing
• Economic policy and analysis
• Information technology and accounting
• Organizational behavior

If you have specific research interests or learning goals, seek out programs with faculty members who align with those objectives. For example, you could identify a scholar or accounting department that publishes studies and research in the same area. This may improve your chances of securing an offer of admission.

Finally, consider different doctoral degree designations and how they may impact your learning outcomes. Doctoral programs in accounting usually lead to a doctor of philosophy (Ph.D.) designation, but some award a doctor of business administration (DBA).

In general, DBA programs focus more on applied topics than theory. They may also offer more scheduling flexibility.

Admissions Process

Admissions processes and requirements vary by program, but you'll generally need to submit the following materials:

Many accounting doctoral programs also have test requirements. These programs often require the Graduate Management Admission Test (GMAT) but could also request scores from the Graduate Record Examination (GRE).

Schools may prefer or require applicants to have a relevant master's degree. However, some accept candidates with only a bachelor's degree. In such cases, extensive professional experience may strengthen your application.

Popular Accounting Ph.D. Courses

Doctoral programs in accounting often structure their curricula around individualized degree plans built around your existing education and your research interests. These plans typically include a focused core of required courses, plus customizable electives and doctoral thesis or dissertation requirements.

Specifics depend on the school and your concentration pathway or minor, if you selected one. However, many doctoral programs in accounting include courses like:

• Empirical Methods in Financial Research: Schools often offer this course as part of a sequence of required classes on research methods. The content emphasizes methods for predicting asset price trajectories, anticipating volatility, applying theories of market efficiency, and creating time series models of financial markets.
• Quantitative Methods and Statistical Analysis: In this required course, doctoral students build advanced knowledge of the quantitative analysis techniques academics and researchers use when interpreting studies and their results. Academic content emphasizes concepts with broad transferability throughout areas of inquiry related to accounting, business, economics, and finance.
• Institutional and Corporate Finance: This elective offers the opportunity to study finance concepts with high-impact applications at the corporate and institutional levels. Topics may include capital markets and their macro- and micro-structures, corporate governance, mergers and acquisitions, and security assurance. It is recommended for students with finance-specific research interests.
• Doctoral Dissertation Research: Doctorate in accounting programs often assign a significant number of credits to research requirements. These learning modules typically focus on research topics of the student's choosing and can reach or exceed the 30-credit threshold. Students conduct research under the guidance of an assigned faculty supervisor.

Doctoral accounting programs usually require students to complete a doctoral thesis or dissertation as a culminating experience. This involves researching, developing, drafting, revising, finalizing, and defending an original long-form work of academic inquiry. You may also have to pass additional written and/or oral examinations to complete your degree requirements.

How Much Do Accounting Ph.D. Programs Cost?

According to the National Center for Education Statistics (NCES), the average annual cost of a doctoral business program was about $14,910 per year as of 2020. The study considered tuition and required fees but excluded other educational costs and did not account for financial aid.

The cost of a doctorate in accounting can vary depending on factors like whether you study at a public or private institution and how much financial aid you receive.

Doctoral students often have access to unique funding opportunities not commonly available at lower levels, such as research stipends and teaching assistantships. Keep this in mind as you compare programs, as these aid sources can reduce your dependence on loans.

Should You Get Your Degree Online?

With distance education becoming normalized, some schools have elected to offer doctorate in accounting programs 100% online. Online learning offers flexibility and convenience, but it also comes with trade-offs. You should carefully consider how your program format could impact your learning experience.

For example, online students may find it more difficult to build relationships with their colleagues and instructors when interacting with them entirely online. Face-to-face learning generally makes networking easier, so take this into account if it ranks among your priorities.

Also, consider the Ph.D. vs. DBA dynamic in this context. DBA programs tend to do more to accommodate working professionals and may, therefore, offer a more flexible online learning experience.

Accounting Jobs and Salaries

Learners often seek a doctorate in accounting as a path to a career in academia. Many institutions reserve their tenure-track positions for candidates with doctorates, creating limitations for accounting professionals seeking to transition into teaching careers through adjunct faculty channels.

However, you can also use your doctorate in accounting to pursue other advanced careers in government or the industry. Examples of post-graduation career paths include:

Financial Analyst

A doctorate in accounting can equip you with very strong analytical and research skills, which you can employ in the private sector as a specialized financial analyst. These professionals examine organizations' internal financial data as well as broader industry and market conditions to evaluate performance, identify growth opportunities, and manage risks.

• Job Outlook (2023-2033): +9%
• Median Annual Salary (May 2023): $99,890

Source: Burea of Labor Statistics (BLS)

Chief Financial Officer

Chief financial officers (CFOs) manage all aspects of organizational finance including planning, capital deployment, and investment activity. CFOs also set organizational financial policy, supervise executives and managers, and work alongside other senior leaders to guide the organization's overall development.

• Job Outlook (2023-33): +6%
• Average Annual Salary (May 2023): $149,990

Sources: BLS, Payscale

Postsecondary Teacher

Postsecondary accounting instructors develop academic program content, design courses, lead lectures and learning sessions, and supervise student research activities. In many cases, they also perform administrative duties as required by their academic departments. A doctorate in accounting is commonly required for teaching positions that may lead to tenure.

• Job Outlook (2023-33): +8%
• Median Annual Salary: $84,380

Source: BLS

Selecting the Right Accounting Doctoral Degree

Choosing the right accounting program can be difficult, given the many elements that impact the school selection process. Consider these factors as you compare your options:

• Faculty Research Interests: See how well your research interests line up with those of the program's faculty members. This can impact both your chances of acceptance and your Ph.D. student experience.
• Research Resources: Look at on-site library resources, how much funding the school dedicates to research, and how involved faculty members are in student research projects.
• Program Flexibility: If you need to study part time or balance your studies with employment, how well can the program accommodate you?
• Financial Aid Packages: Explore the various forms of available financial aid and their combined potential impact on lowering your out-of-pocket costs and debt burden.

Consider these factors alongside other practical aspects of program selection, such as institutional reputation and program length.

Common Questions About Accounting Doctorates