Accounting Degrees in Indiana

Known for the Indianapolis 500 race, its strong agricultural sector, and a lower-than-average cost of living, Indiana is an excellent place to earn an accounting degree. Many schools offer online accounting degrees in Indiana, providing students convenience and flexibility while they get an education.

An accounting degree at any level can open the door to jobs with faster-than-average projected growth and higher-than-average salaries. Popular accounting careers in the Hoosier State include auditor, bookkeeping clerk, and financial manager.

Keep reading to learn more about earning an accounting degree in Indiana, including the educational climate, program offerings, and career prospects for graduates. Our guide also explores CPA requirements in Indiana, including taking the CPA exam in the state.

Getting an accounting degree in Indiana can provide many potential benefits. The state offers dozens of higher learning institutions, so students can choose from a number of accounting programs. The state also has a lower-than-average cost of living, which may give learners the opportunity to spend less on expenses like groceries and rent while earning their degree.

Students who earn accounting degrees in Indiana can begin building a professional network while still in school. Pursuing accounting internships or part-time jobs while enrolled in an accounting program can provide opportunities to turn these connections into full-time job offers after graduation.

For prospective accountants intending to live in Indiana, attending an accounting program in the state also makes it much more likely you will understand the Indiana accounting requirements, such as qualifications for the CPA exam in the Hoosier State.

Indiana boasts over 50 four-year colleges and universities. The percentage of learners enrolled in distance education in the state as of 2020 exceeds the national average by about 3%.

Compared to the national average, Indiana spends less on postsecondary education per student, but allocates more tax revenue overall to higher education. The percentage of adults with a bachelor’s or graduate degree is lower than the national average. This suggests the need for these degree-holders and their specialized skills may be high.

An important factor to consider while researching institutions is accreditation. Accredited schools undergo third-party evaluation to ensure they meet standards of academic excellence. Accrediting agencies examine teaching and learning quality, institutional effectiveness, and the availability of student services and academic resources.

The Higher Learning Commission is Indiana’s regional accreditation body. Accounting programs can also hold separate programmatic accreditation from AACSB International, which evaluates how well the accounting curriculum prepares enrollees for careers in the field.

Program aspects to consider while choosing a school include learning format (online or in person), type of school (public or private), and cost. The data below can help you figure out if earning an accounting degree in Indiana is right for you. It can also help you start your search for accounting programs.

Schools in Indiana offer on-campus, online, and hybrid accounting programs. The best learning format varies depending on your schedule, learning style, and budget.

Note that the data about online enrollment in the table below is from 2020, so the information reflects distance learning trends during the COVID-19 pandemic and may not reflect typical enrollment numbers.

Many universities offer on-campus programs in Indiana. Some students prefer in-person learning because of the more rigid structure of classroom learning. On-campus programs afford learners high levels of peer and instructor interaction, which can make networking easier.

Online programs can provide greater flexibility than traditional on-campus programs. Students in asynchronous online programs can complete coursework from any location around their schedules. This flexibility especially benefits individuals with work or family obligations.

Hybrid programs combine in-person and online learning. Some programs offer classes in both modalities, while some feature online coursework and occasional in-person residencies. These hybrid degrees can provide learners the flexibility and convenience of learning online while still offering opportunities for face-to-face connection.

Explore our nationwide rankings for the best accounting programs on campus and online.

Earning a degree is a significant financial investment for most learners. Financing options for an accounting degree in Indiana include scholarships, grants, fellowships, and work-study.

Scholarships and grants do not require repayment. Criteria for these awards often depend on merit, need, or membership in specific groups. Students can also apply for federally subsidized or private student loans, which do require repayment.

Consult the links below for more information about financial aid and accounting scholarships. Learners may also qualify for Indiana-specific state financial aid programs through the Indiana Commission for Higher Education.

The tuition rate students pay at public institutions depends on whether they can claim state residency. Legal Indiana residents pay in-state tuition, which is significantly less than what nonresidents pay for out-of-state tuition. On average, out-of-state students pay over $19,000 more each year to attend a four-year public university in Indiana than their in-state counterparts.

Indiana participates in the Midwestern Higher Education Compact (MHEC), a tuition reciprocity agreement that includes 11 other nearby states. This program makes it possible for students to attend some participating out-of-state schools at a more affordable rate.

Indiana’s lower-than-average cost of living is one potential benefit of pursuing an accounting degree in the state. The cost of living index measures the average cost of basic needs like housing, groceries, and healthcare. Per World Population Review data from 2022, Indiana’s cost of living index is 90.6, which means the state is 9.4% more affordable than the nation overall.

U.S. News & World Report ranks Indiana seventh in the nation for opportunity and the potential for upward mobility, which may suggest that accounting students in the state are well-poised to land jobs after graduation.

Three of the Big Four accounting firms have a presence in Indiana, all in Indianapolis: Deloitte LLP, PricewaterhouseCoopers, and Ernst & Young. Other major accounting firms in the state include RSM, Crowe & Horwath, and BKD.

Almost all sectors of the economy require the help of skilled accounting professionals. According to 2021 data from the U.S. Bureau of Labor Statistics (BLS), high-employing industries for accountants include management of companies and enterprises, local and state governments, and real estate.

Below, we discuss some popular careers and employment trends for people with an accounting degree in Indiana. We also cover CPA requirements in Indiana and explain how the certified public accountant exam works in the state.

Bookkeeping, accounting, and auditing clerks create financial records and examine them for accuracy. They need at least a high school diploma or its equivalent, but some employers prefer candidates with associate or bachelor’s degrees. In 2021, Indiana employed more bookkeeping, accounting, and auditing clerks than any other accounting job, according to the BLS.

Job Outlook in Indiana (2020-30): -2.1%

According to the BLS, Indiana accountants and auditors earned an average annual salary of $74,080 in 2021. These professionals typically need at least a bachelor’s degree in accounting or a related field. Common duties include preparing financial records, analyzing financial operations, and preparing tax returns. With experience, accountants can advance to roles like financial manager or top executive.

Job Outlook in Indiana (2020-30): +7.5%

According to the BLS, Indiana employed more than 9,000 financial managers in 2021, making it one of the most popular accounting careers in the state. Financial managers oversee their organization’s finances. Typical tasks include supervising employees who perform financial tasks, making financial decisions with other managers, and ensuring that organizations comply with legal regulations.

Job Outlook in Indiana (2020-30): +17.6%

Accounting graduates in Indiana qualify for multiple career options if they plan to stay in the state. Careers with the most job openings in Indiana include accountants and auditors, bookkeeping and auditing clerks, and financial managers.

Students seeking to increase their earning potential should consider pursuing a master’s degree and careers like personal financial advisor, financial manager, or financial analyst.

Learners interested in careers with a more general business focus, like financial manager or budget analyst, may want to consider earning a business administration degree in Indiana.

In the U.S., each state has its own requirements for becoming a certified public accountant (CPA). Accounting students should check the requirements for the state in which they hope to practice. According to the National Association of the State Boards of Accountancy (NASBA), CPA requirements in Indiana include:

See the Indiana State Board of Accounts for more information about Indiana’s accounting requirements.

CPA requirements in Indiana include either a bachelor’s degree or master’s degree with 120 semester hours. Students must complete a specific number of semester hours of coursework in accounting, business administration, and economics. This number varies depending on degree attainment.

NASBA reports the CPA exam in Indiana costs $1,122.60. This includes a $170 application fee and a $238.15 examination fee for each section of the four-part test. These four parts are auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation.

According to the Indiana Board of Accountancy, a non-CPA cannot solely own a CPA firm in Indiana, but they can have partial ownership stakes. Indiana accounting requirements stipulate that an active CPA must hold majority financial ownership and voting rights of a CPA firm.