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Admissions Requirements
The following are general requirements you should meet to apply to the MIT Sloan PhD Program. Complete instructions concerning application requirements are available in the online application.
General Requirements
- Bachelor's degree or equivalent
- A strong quantitative background (the Accounting group requires calculus)
- Exposure to microeconomics and macroeconomics (the Accounting group requires microeconomics)
A Guide to Business PhD Applications by Abhishek Nagaraj (PhD 2016) may be of interest.
Application Components
Statement of purpose.
Your written statement is your chance to convince the admissions committee that you will do excellent doctoral work and that you have the promise to have a successful career as an academic researcher.
GMAT/GRE Scores
We require either a valid GMAT or valid GRE score. At-home testing is allowed. Your unofficial score report from the testing institution is sufficient for application. If you are admitted to the program, you will be required to submit your official test score for verification.
We do not have a minimum score requirement. We do not offer test waivers. Registration information for the GMAT (code X5X-QS-21) and GRE (code 3510) may be obtained at www.mba.com and www.ets.org respectively.
TOEFL/IELTS Scores
We require either a valid TOEFL (minimum score 577 PBT/90 IBT ) or valid IELTS (minimum score 7) for all non-native English speakers. Your unofficial score report from the testing institution is sufficient for application. If you are admitted to the program, you will be required to submit your official test score for verification. Registration information for TOEFL (code 3510) and IELTS may be obtained at www.toefl.org and www.ielts.org respectively.
The TOEFL/IELTS test requirement is waived only if you meet one of the following criteria:
Please do not contact the PhD Program regarding waivers, as none will be discussed. If, upon review, the faculty are interested in your application with a missing required TOEFL or IELTS score, we may contact you at that time to request a score.
Transcripts
We require unofficial copies of transcripts for each college or university you have attended, even if no degree was awarded. If these transcripts are in a language other than English, we also require a copy of a certified translation. In addition, you will be asked to list the five most relevant courses you have taken.
Letters of Recommendation
We require three letters of recommendation. Academic letters are preferred, especially those providing evidence of research potential. We allow for an optional fourth recommendation, but no more than four recommendations are allowed.
Your resume should be no more than two pages. You may chose to include teaching, professional experience, research experience, publications, and other accomplishments in outside activities.
Writing Sample(s)
Applicants are encouraged to submit a writing sample. For applicants to the Finance group, a writing sample is required. There are no specific guidelines for your writing sample. Possible options include (but are not limited to) essays, masters’ theses, capstone projects, or research papers.
Video Essay
A video essay is required for the Accounting research group and optional for the Marketing and System Dynamics research groups. The essay is a short and informal video answering why you selected this research group and a time where you creatively solved a problem. The video can be recorded with your phone or computer, and should range from 2 to 5 minutes in length. There is no attention — zero emphasis! — on the production value of your video.
Nondiscrimination Policy: The Massachusetts Institute of Technology is committed to the principle of equal opportunity in education and employment. For complete text of MIT’s Nondiscrimination Statement, please click here .
MIT Sloan Accounting Group
� The Accounting Group at MIT's Sloan School offers undergraduate and masters courses, as well as a Ph.D. course of study.
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- Richard Frankel, Associate Professor of Accounting
- Peter Joos, Assistant Professor of Accounting
- S. P. Kothari, Gordon Y Billard Professor of Accounting [ Personal Home Page ]
- George Plesko, Visiting Assistant Professor of Management [ Personal Home Page ]
- Sugata Roychowdhury, Assistant Professor of Accounting
- Joseph Weber, Associate Professor of Accounting
Visiting Professors
- Kin Lo, Sauder School of Business, The University of British Columbia, 2003-2004
Staff for the Accounting Group Seminar Series Click here to view our current Seminar schedule.
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Top 10 Best PhD in Accounting Programs
Accounting is an abstract subject dealing with numbers and calculations. Personal finance requires strong attention to detail — imagine the meticulousness necessary to achieve a PhD in accounting! Prepare for a few years of mathematical and statistical study, and toning your analytical skills. The program offers a bright future, opening vast career possibilities and excellent job prospects.
A booming field, accounting roles for financial managers are estimated to grow by 17% from 2020 to 2030, according to the Bureau of Labor Statistics. This represents a much higher growth rate than the average for all professions.
Let’s explore the best accounting PhD programs so you can prepare for the next step in your finance career!
Table of Contents
Best PhD in Accounting Programs
The university of texas at austin, mccombs school of business.
PhD in Accounting
The University of Texas at Austin was ranked number one in the country for Accounting PhD programs by the US World & News Public Accounting Report . The University’s McCombs School offers one of the top accounting doctoral programs that welcomes students with diverse disciplines such as economics, mathematics , finance, and engineering.
- Specializations: Financial accounting, managerial accounting, auditing, and taxation.
- Duration : 5 years
- Delivery : On-campus
- Tuition : $1,000 per credit
- Financial aid: Grants, loans, assistantships, and fellowships
- Acceptance rate : 32%
- Location : Austin, TX
The University of Illinois Urbana-Champaign, Gies College of Business
PhD in Accountancy
The University of Illinois at Urbana Champaign is renowned for its top-notch accounting faculty, boasting a high accounting PhD programs ranking by the BYU Accounting Faculty Research Rankings . Out of all the best PhD accounting programs, this one emphasizes productivity and results the most while valuing quality student placements to give you real-world work experience.
- Courses : Mathematical statistics, probability theory, and constructs in accounting research.
- Credits : 96
- Tuition : $652 per credit
- Financial aid : Fellowships, teaching/research assistantships, and tuition waivers
- Acceptance rate : 63.3%
- Location : Champaign, IL
Stanford University, Graduate School of Business
Stanford is one of the most prestigious universities in the world, with 19 institutes encouraging interdisciplinary learning and a $1.69 billion sponsored research budget. It offers one of the country’s top accounting PhD programs, emphasizing both empirical and analytical research. Moreover, its balanced curriculum gives equal importance to coursework, research, and teaching.
- Courses : Financial reporting & management control, empirical accounting research, and microeconomic analysis.
- Duration : 4-5 years
- Tuition : Refer tuition page
- Financial aid: Grants, scholarships, fellowships, and research/teaching assistantships
- Acceptance rate: 5.2%
- Location : Stanford, CA
New York University, Leonard N. Stern School of Business
The Stern School of Business of NYU offers one of the world’s most well-known accounting doctorate programs. The program allows students to study with other schools within the university along with Stern.
- Courses : Empirical research in financial accounting, microeconomic theory, and regression & multivariate analysis.
- Duration : 4 years
- Financial aid: Fellowships and research/teaching assistantships
- Acceptance rate: 21.1%
- Location : New York City, NY
University of Pennsylvania, Wharton School
The University of Pennsylvania and Wharton School are world-renowned names in education. The school’s PhD in accounting program allows students to study with neighboring departments to gain exposure to other fields and innovative ideas from a wide range of disciplines.
- Courses : Empirical design in accounting research and advanced statistical inference.
- Course units: 16
- Financial aid : Full fellowships
- Acceptance rate : 9%
- Location : Philadelphia, PA
The University of Michigan – Ann Arbor, Stephen M. Ross School of Business
The University of Michigan is a prestigious higher learning institution and one of the best public schools in the country. Its PhD in accounting program encourages extensive collaboration between students and faculty in combined research opportunities.
- Courses : Contemporary accounting issues, pre-candidacy dissertation, and candidacy dissertation.
- Financial aid: Full funding and graduate assistantships
- Acceptance rate: 26%
- Location : Ann Arbor, MI
Northwestern University, Kellogg School of Management
PhD Accounting Information & Management
Northwestern University’s Kellogg School is one of the oldest business schools in the world and has made major contributions to business, management, and marketing fields. It offers an information-focused accounting doctorate program with research scope for subjects like information intermediaries in capital markets, properties, and transformations in the information environment of companies.
- Courses : Research in accounting theory, empirical research in accounting, and special topics in empirical accounting research.
- Duration : 5.5 years
- Tuition : $13,085 per quarter
- Financial aid : Scholarships, fellowships, and teaching/research assistantships
- Acceptance rate: 9.3%
- Location : Evanston, IL
The University of Chicago, Booth School of Business
The University of Chicago’s Booth School of Business is known for its eminent faculty delivering groundbreaking research in accounting. This PhD offers doctoral candidates the freedom to explore their own research interests. They also get the opportunity to perform collaborative scholarly work with faculty members.
- Tuition : $66,096 per three quarters ($32,400 for fifth year)
- Financial aid : Grants, teaching/research assistantships, and fellowships
- Acceptance rate: 7.3%
- Location : Chicago, IL
University of North Carolina Chapel Hill, Kenan Flagler Business School
UNC at Chapel Hill is the flagship university of the University of North Carolina system. It’s known as a Public Ivy school, offering a high-quality curriculum taught by renowned faculty. UNC’s Kenan Flagler Business School is world-famous, supporting research in international accounting, accounting information in capital markets, and accounting standard-setting.
- Courses : Empirical accounting research, managerial accounting, and tax research.
- Credits : 48-61
- Financial aid: Teaching fellowship, research/teaching assistantships, and tuition waivers
- Acceptance rate: 25%
- Location : Chapel Hill, North Carolina
The University of Mississippi, Patterson School of Accountancy
The University of Mississippi’s Patterson School is entirely dedicated to accounting studies. Its PhD in accounting program aims to develop scholars with a strong foundation in the historical background of accounting and expert research skills.
- Courses : Contemporary accounting theory, and financial accounting, auditing & accounting information systems research.
- Credits : 77
- Tuition : $504 per credit hour
- Financial aid: Scholarships, fellowships
- Acceptance rate: 88%
- Location : University, Mississippi
What Do You Need to Get a PhD in Accounting?
Generally, you only need a bachelor’s degree in accounting or a related discipline to apply for a PhD program in accounting. Very few programs require a master’s qualification.
The exact requirements vary depending on the program, but you’ll usually need to submit the following to the selection committee:
- GRE or GMAT scores
- Undergraduate transcripts
- Personal essay or research proposal
- Recommendation letters
- Academic resume
Always check specific program requirements for colleges you’re interested in, and contact academic advisors in advance to verify. The top accounting PhD programs can be pretty competitive, so it’s best to carve out ample time to prepare a solid application!
Preparing for an Accounting Doctorate Program
Besides accounting, your PhD program will cover in-depth study of other subjects like economics and statistics. Our advice? Do some background preparation on these subjects, either through self-study or a foundational course.
Additionally, you should prepare yourself for serious research. Unlike undergraduate research, which typically aims to summarize existing knowledge, the goal of a PhD is to make new discoveries. Finally, you should brush up on your teaching skills because your PhD will likely involve giving seminars or tutoring undergraduate students.
Things to Consider When Choosing an Accounting PhD Program
Choosing an accounting PhD program is an individual decision. The right choice depends on various factors that can differ widely depending on the person.
However, here are a few factors that are relevant to practically everyone:
- Budget – What is the cost of tuition and other fees? What financial aid is available?
- Specializations – What disciplines are offered under the program, and what are the faculty’s areas of expertise? How do these match your passions and career goals?
- Program reputation – Is the school well-known? What accreditations does it have?
- Delivery method – Is the program offered on-campus, online, or in a hybrid format?
- Location – If you need to attend classes in person, even occasionally, how easy is it for you to get to campus?
Why Get a Doctorate in Accounting?
If you’re proficient with analytical and mathematical skills, a PhD in accounting can help you secure some of the highest-paying jobs in finance and economics. In these roles, you’ll apply the theoretical concepts you studied during your doctorate to solve real market problems, or transfer your knowledge to the next generation by teaching.
Jobs and Salaries for Doctors of Accounting
A doctorate in accounting can qualify you for a range of exciting and high-level roles in the finance sector.
Here are just some of the roles you’ll be eligible for once you’ve completed your PhD in Accounting, with the median annual salary for each:
- Associate Professor in Accounting ( $80,799 )
- Financial Manager ( $95,518 )
- Finance Director ( $115,603 )
- Analyst/Advisor ( $62,924 )
- Senior Financial Analyst ( $83,091 )
For more on job opportunities in the sector, take a look at our guide to the top 10 best jobs for MBA graduates .
What is the Average Cost of PhD Accounting Programs?
The cost of a PhD in accounting can vary greatly depending on the program and school. Remember, the total cost includes not only tuition, but also living expenses, fees and other study expenses.
Generally, prestigious private universities cost more, while public universities offer lower tuition and fees. Additionally, state residents pay less tuition and fees for state universities than non-resident students. Considering all these factors, the total cost for a doctorate in accounting could be anything from around $10,000 to $70,000 per year.
Wrapping Up
A PhD in accounting will qualify you for some of the best job opportunities in the business and commercial world today. Alternatively, after graduation you could pursue a career in higher education, either in research or as a professor. With experts predicting an increase in accounting job opportunities in the sector in the coming years, the future looks bright for graduates with a doctorate in accounting.
For more on the best courses in finance and accounting, take a look at our guides to the best Master’s in Accounting , the best online MBA Programs , and the top 20 online PhD programs in 2022 .
What Does a PhD in Accounting Do?
With a PhD in accounting, you can work as a professor, consultant, financial manager, analyst, researcher, or one of many high-level jobs in the accounting field.
Can You Get a Doctorate in Accounting?
Yes. Many universities offer doctorate in accounting programs. As long as you meet the eligibility criteria (usually an undergraduate degree in a related field) and present a strong application, you can start your doctorate in accounting.
How Hard is a PhD in Accounting?
Like with any PhD, you need to have a high level of dedication, self-discipline and the ability to conduct strong research to earn a doctorate in accounting. You will also need to demonstrate strong writing, analytical, and presentation skills.
Can an Accountant Have a PhD?
You don’t need a PhD to work as an accountant. Depending on the role, most accountants either have a bachelor’s or a master’s in accounting . However, an accountant who wants to further their career or research in academia may choose to get a PhD in the field.
Do You Need a PhD to Teach Accounting?
A PhD is not typically required to teach accounting in certain settings, such as a community college. However, if you have one, you’ll have a lot more teaching options, including more lucrative positions at universities.
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Lisa is a full-time writer specializing in career advice, further education, and personal development. She works from all over the world, and when not writing you'll find her hiking, practicing yoga, or enjoying a glass of Malbec.
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Primarily for accountants and aspiring accountants to learn about and discuss their career choice. Advice and questions welcome.
Anyone have a PhD in Accounting?
I just graduated with a bachelor's degree in accounting and have some experience auditing from my internships. I am seriously considering getting a PhD in accounting and becoming a professor. I personally would enjoy the classroom environment and interacting with students instead of tick marketing workpapers all day. I know public accounting can lead to making a lot of money but I have heard that a phd professor will bring in 6 figures. I would rather enjoy what I do making 100k than being miserable making 300k plus.
How challenging was the PhD process in accounting?
Was it worth it for you?
Should I attempt to get the CPA and do an MSA first?
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Rodrigo Verdi
Deputy dean for degree programs, teaching and learning.
Rodrigo Verdi is the Deputy Dean for Degree Programs, Teaching and Learning and the Nanyang Technological University Professor of Accounting at the MIT Sloan School of Management.
He joined MIT Sloan in 2006 after receiving a PhD from the University of Pennsylvania and received tenure at MIT in 2013.
He has taught financial accounting to undergraduate, MBA, EMBA, and PhD students over the last 15 years. Prof. Verdi has received numerous teaching awards at MIT and Sloan including the Jamieson Prize for Excellence in Teaching (2021), the MIT Teaching with Digital Technology Award (2020), the Best Teacher Award at Sloan School of Management (2021, 2019, 2015), and the Outstanding Teacher Award at Sloan School of Management (2018, 2016).
He has previously served as a Senior Editor at the Journal of Accounting Research , as an Editor at The Accounting Review , and an Associate Editor at Management Science . His research has been published in the premier accounting and finance journals and has received the Distinguished Contributions and Best Paper Award recognitions by the American Accounting Association.
Outside MIT, he has served on the board of trustees at Laspau (a Harvard Affiliate) and the Cambridge Ellis School, as an advisor to the provost at the Unisinos University in Brazil.
Recent Research
"litigation risk and strategic m&a valuations.", "the innovation consequences of judicial efficiency.", "a measure of financial statement benchmarking.", areas of interest.
- Accounting standards
- Capital markets
- Corporate disclosure practices
- Earnings quality
- Financial regulation
- Financial reporting
More about Rodrigo
Mit asia conference.
Rodrigo Verdi is a member of conference organizing team.
Publications on Google Scholar
Rodrigo's Google Scholar page
Working Papers on SSRN
Rodrigo's SSRN page.
Contact Information
Deputy Dean for Degree Programs, Teaching and Learning|Nanyang Technological University Professor of Accounting
Professor, Accounting
MIT Sloan School of Management
100 Main St
Cambridge, MA 02142
Support Staff
Gilly parker, connect with rodrigo.
Browse Course Material
Course info, instructors.
- Prof. George Plesko
- Prof. Kin Lo
- Prof. Richard Frankel
Departments
- Sloan School of Management
As Taught In
Learning resource types, financial accounting, lecture notes.
This section of the session road map below specifies the learning objectives you should achieve through (a) the assigned readings and homework, (b) the class discussion or lecture, or (c) the weekly T.A. session (if needed). Periodically, it also summarizes key concepts. You and your group can gauge your progress by assessing the extent to which you have met these objectives and understand the concepts.<
Class Preparation Questions
| LEC # | TOPICS | PREPARATION |
|---|---|---|
| 1 | ) Acknowledgement is hereby given to Professor G. Peter Wilson for his authorship of the following works incorporated into this slideshow: Objectives: 1. Build a working relationship: What are our responsibilities? 2. Answer the following: What do accountants do and why is it important? 3. Understand the course objective and challenges, and our strategy to meet them. 4. Begin to gain an understanding of the course framework. 5. Understand how individual events affect financial statements. | |
| 2 | ) Objectives: 1. Understand how accrual accounting differs from a cash basis. 2. Develop a mental model for classifying types of accounting accruals. 3. Understand how accruals affect the financial statement. 4. Become familiar with the basic bookkeeping model that illustrates how record keeping impacts the financials. 5. Understand the accounting cycle: | Class Preparation Questions: 1. How do the Income Statement and the Balance Sheet relate to one another? 2. What does a firm’s ending balance of Retained Earnings represent? In Figure 4-11 on p. 167 of Pratt, Why does Net Income appear on both the Income Statement AND the Statement of Retained Earnings? Why does Ending Retained Earnings Balance not equal Ending Cash Balance on the Balance Sheet? 3. How do you determine what fiscal period a firm is using? Why would companies use something other than calendar year as a fiscal period? 4. From a financial reporting perspective, what’s the difference between consistency and uniformity? Why do U.S. accounting principles require the former but not the latter? 5. What is the difference between capitalizing and expensing a cost? 6. How is recognizing depreciation for PP&E an example of the Matching Principle? 7. Pratt E4-19 (we will do this in class). |
| 3 |
Objectives: 1. Become familiar with the main parts of an annual report: 2. Understand the purposes of the four financial statements: 3. Become familiar with the types of economic activity that are associated with common financial-statement line items, and thus the reasons why users of financial reports might find these items useful. 4. Understand the distinction between recognition and disclosure of information. 5. Begin to understand commonly-used financial ratios. | Class Preparation Questions:
|
| 4 | ) Objectives: 1. Discuss the criteria for revenue recognition under accrual accounting: a firm recognizes revenue when it is deemed to be 2. Introduce the different types of contra-asset accounts related to Accounts Receivable: Allowance for Doubtful Accounts (“ADA”), Allowance for Returns, and Deferred Income Liability. 3. Understand the three alternative methods used to calculate the Allowance for Doubtful Accounts: direct method, percentage of sales, and aging. 4. Work on a detailed example: reverse engineering Intel’s cash collections in 2001. | Class Preparation Questions: 1. What are the criteria necessary to recognize revenue? 2. Under what circumstances would managers have the incentive to manipulate the timing of revenue recognition? How would they do it? What risks are involved? 3. Instead of using an ADA (Allowance for Doubtful Accounts) account, why can’t we just subtract estimated future write-offs from the Accounts Receivable? 4. Problem E6-7 from the course textbook: J. Pratt. 5th ed. John Wiley & Sons, Inc. 5. What is Intel’s revenue recognition policy? 6. How would you go about calculating Intel’s cash collections in 2002? (Hint: preview the class lecture notes). |
| 5 | Revenue Recognition Objectives: 1. Reinforce and extend your understanding of revenue recognition. 2. Illustrate how accounting numbers can influence the operating decisions they reflect. | Class Preparation Questions: In addition to the two questions at the back of Circuit City (CC), answer the following: 1. Show the BSE (Balance Sheet Equation) effects of the following events under the 3 accounting alternatives described on pp. 2 and 3. a. On 1/1/90, CC sells a stereo for $1,000 cash. Cost of inventory is $900. Customer also pays $100 cash for 2-year warranty coverage, which CC expects to require $20 in parts and labor over that period (through 12/31/91). b. 12/90, the customer brings the stereo in for inspection. Actual cost to CC is $8. c. 12/91, the customer brings the stereo in again; actual cost to CC is $15. 2. Compare yearly and total Net Income (i.e., for 1990 + 1991) of the scenario posed above under the three accounting treatments. 3. How will Circuit City’s financial statements be affected if the FASB requires them to change the accounting treatment for extended warranty and product maintenance contracts? What additional information or assumptions would you need to estimate the dollar impact of this change? 4. As a user (lender, investor) of CC’s financial statements, how would you prefer they account for extended warranty contracts? Why? |
| 6 | ) Objectives: 1. Understand three decisions related to accounting for inventory: 2. Begin to understand these related issues: | Class Preparation Questions: 1. What are the four major alternatives for calculating cost-flow (flow of value from inventory to COGS)? How do these relate (if at all) to the physical flow of products sold? 2. When costs are increasing over time, which assumption (LIFO or FIFO) results in higher reported Net Income? In a higher reported value for Inventory on the Balance Sheet? 3. What does “LIFO Reserve” represent? What causes it to increase or decrease? 4. Does Intel use LIFO or FIFO? Where would you find this information? 5. Calculate Intel’s 2002 Inventory Turnover ratio. |
| 7 | ) Concepts and Objectives: 1. Understand more applications of the matching principle: 2. Understand the concept of “Depreciation” and the assumptions used to calculate depreciation. 3. Continue to learn how to reverse engineer related accounting entries from financial statement information. 4. Begin to understand and appreciate the Statement of Cash Flows. | Class Preparation Questions: 1. Explain how depreciating PP&E is an example of the matching principle. 2. When a long-lived asset is sold, how is the gain or loss (if any) determined? Why would a gain or loss arise? How would it affect the Income Statement and Statement of Cash Flows? 3. How is the Accumulated Depreciation account similar to other asset accounts you have seen in the past? 4. What was the value of Intel’s gross PP&E and accumulated depreciation at the end of 2002? What is Intel’s depreciation expense for 2002? How much PP&E did Intel purchase in 2002? 5. Pratt: E9-10 (straight-line only), E9-15 (parts a. and c. only, use the BSE instead of journal entries). |
| 8 | Matching Principle: Property, Plant, and Equipment Objectives: 1. Reinforce and extend your understanding of accounting for property, plant, and equipment. 2. Better appreciate how the usage and judgment challenges are contextual, depending especially on the business, the individuals making decisions, and the regulatory environment. Game Plan and Class Pedagogy: Case discussion. | Class Preparation Questions:
|
| 9 | ) Objectives: 1. Understand the purpose of the SCF. 2. Distinguish between the three sections of the SCF. 3. Understand the differences between the direct and the indirect SCF. 4. Understand how to derive the indirect SCF from the Income Statement and the Balance Sheet. ), with examples ): An Exercise for Preparing the Statement of Cash Flows using the Direct and Indirect Methods. | Class Preparation Questions: 1. Explain the differences between the direct and the indirect SCF. 2. Why is a company’s Net Income different from its net cash increase for the year? 3. In the Operating Activities section of the indirect SCF, why is depreciation expense added back into the cash flow? 4. In the Operating Activities section of the indirect SCF, why do you subtract an increase in an asset account such as Accounts Receivable? 5. Looking at Intel’s SCF, did Inventories increase or decrease in 2001? By how much? What about Intel’s Accounts Payable? |
| Class Preparation Questions: 1. Distinguish between the objectives of financial reporting and the reporting according to the Internal Revenue Code. 2. What is a temporary tax difference? What are some examples? What is a permanent tax difference? What are some examples? 3. What is the effective tax rate? Why might it be different from the statutory tax rate? 4. Why does the accelerated method of depreciation for tax purposes lead to a liability? 5. What was Intel’s provision for taxes in 2002? How much of it was current and how much was deferred? 6. Does Intel have net deferred tax assets or liabilities? What were Intel’s largest sources of deferred tax assets and liabilities? How much cash was paid during 2002 for income taxes? | ||
| 11 | ) Objectives: 1. Understand when accounting departs from the “transactions-based” model and towards market-driven valuations. 2. Illustrate the role of judgment in applying the LCM rule for inventory. 3. Understand how marketable securities are valued on companies’ Balance Sheets. 4. Understand the Income Statement effects of valuation adjustments. | Class Preparation Questions: 1. When should market values be used in the valuation of assets and liabilities in the Balance Sheet? 2. Are there cash flow effects of the “mark-to-market” rule? 3. The former GAAP requires lower-of-cost-or-market in the accounting for marketable securities, applied on a portfolio basis. If managers have the incentive to increase earnings, what behavior is induced by this rule? How does “mark-to-market” mitigate this behavior? 4. The new GAAP gives discretion to managers on how marketable securities are classified, based on managers’ intent. Although most securities are marked-to-market, this new GAAP still allows securities (in particular, debt securities) to be carried at historical cost. Given this discretion in classification, does the new rule improve the ability of accounting to measure firm performance? 5. What was the market value of the Available for Sale securities held by Intel at the end of 2002? What was the original cost to Intel? What was the tax effect of the appreciation/depreciation? |
| 12 | ) Objectives: 1. Understand the nature and reporting requirement of short-term liabilities. 2. Illustrate the trade-off between reliability and relevance of accounting numbers in the accounting for contingencies. 3. Understand the time value of money and the mechanics of present value calculations. | Class Preparation Questions:
For current liabilities: What kind of current liabilities does Intel have? What types of contingencies does it disclose? How much did Intel accrue to cover contingencies? |
| 13 | ) Objectives: 1. Understand the terminology of long-term debt including par value, stated versus effective interest rate, discounts, premiums, and mortgages. 2. Understand how long-term debt affects the financial statements over time. | |
| 14 | Debt and Valuation Objectives: 1. Understand the role of judgment in determining valuation allowances. 2. Understand important factors that can influence this judgment. 3. Understand how various parties influence the reported numbers – the pressure they put on the reported numbers. 4. Reinforce your understanding of record keeping and reporting and search issues related to valuation allowances. 5. Introduce banking terms and concepts. | Class Preparation Questions: ) Special Note: First National Bank builds on the previous three sessions and you should review the terms and concepts from those sessions. The class preparation questions will guide the case discussion. The economic activity for this session centers on credit analyses related to loans. The accounting decision is determining the allowance for bad debts, a decision that requires considerable judgment. The case refers to numerous users’ decisions that are affected by this accounting decision. |
| 15 | ) Objectives: 1. Understand the rationale for leasing, and the distinction between operating and capital leases. 2. Understand the Income Statement and Balance Sheet differences between operating and capital leases. (Note: we will focus on accounting from the lessee’s perspective, not the lessor.) Game Plan and Class Pedagogy: Lecture and directed discussion. | Class Preparation Questions: 1. What are the operational and the financial advantages to a company to lease as oppose to purchase PP&E? What are some disadvantages? 2. What are the advantages and disadvantages of accounting for a lease as an operating lease versus a capital lease? 3. What are the accounting criteria for a capital lease? 4. Does Intel lease its PP&E under capital leases or operating leases? What was Intel’s lease expense in 2002? What is Intel’s minimum commitment under all its non-cancelable leases in 2003? Class Preparation Problem: 1. |
| 16 | ) Objectives: 1. Understand the components of stockholders’ equity. 2. Understand the effects various transactions have on stockholders’ equity. 3. Better understand ratios based on stockholders’ equity. 4. Begin to understand the accounting for stock options. | Class Preparation Questions: 1. What are the components of Stockholders’ (Owners’) Equity? 2. What is EPS? How does diluted EPS differ from EPS? 3. What is Treasury Stock? 4. What are stock options? How do they affect stockholders’ equity? |
| 17 | ) Objectives: 1. Understand that the accounting method used for acquisitions depends on the extent to which the investor exerts influence over the investee. 2. Understand the effects of dividends received and investee income on the financial statements of the investor under the equity method. 3. Understand the effects of consolidated accounting on the balance sheet and income statement of the investor: | Class Preparation Questions: 1. What are the differences between the equity method and the consolidation method? 2. What are the differences between the purchase and the pooling methods of consolidation? 3. How are minority interests treated under the consolidation method? 4. What happens if the fair market value of the assets of an acquired company is less than the purchase price of the company? How is this excess amount recorded on the Balance Sheet of the parent company? 5. How much did Intel pay for these acquisitions? What was the total market value of the assets acquired? What was the total amount of goodwill associated with theses acquisitions that Intel recognized in 2002? |
| 18 | Current Issues in Financial Reporting Objectives: 1. Better understand issues associated with consolidated financial reporting. 2. Address recent accounting issues raised in the popular and financial press. 3. Give you time to learn deferred taxes, marketable security accounting, leases, etc. | |
| 19 | Introduction to FSA Objective: 1. Synthesize your knowledge of financial reporting through a comprehensive case analysis. | |
| 20 | Course Review and Wrap-up Objective: 1. To review the course framework and course material and preview related courses. | Class Preparation Questions: Up to you and as needed to feel comfortable with your mastery of the course material. |
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Fulfill requests from upper management and analyze financial data sets at Koch Industries.
Welcome to our program! We are so excited to have you here.
Food. Shelter. Clothing. Transportation. Koch Industries creates life’s basic necessities while innovating ways to make them even better. Yet, it’s our advocacy for a free and open society that truly sets us apart.
During this program, you will have the opportunity to step into the shoes of a Koch team member and complete tasks that replicate the work that our accounting team does every day. You’ll learn how to fulfill requests from upper management and analyze financial data sets.
We hope this program provides a great resource for you to upskill and strengthen your resume as you explore career options and a potential career at Koch Industries!
This program is self-paced. It takes approximately 2-3 hours to complete.
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Accounting & Management
A minimum of 13 semester courses at doctoral level are required. Each semester students will consult with the Accounting & Management faculty coordinators to receive approval of their course selections.
Microeconomics Theory : A comprehensive two semester sequence on economic theory:
- Microeconomic Theory I (HBS 4010/Economics 2020a)
- Microeconomic Theory II (HBS 4011/Economics 2020b)
All Accounting and Management students are required to have completed one undergraduate or graduate course in introduction to Econometrics. If this requirement has not been fulfilled prior to matriculation, then an equivalent course will be required in the first term of the student's doctoral program.
Courses meeting this requirement include:
- Introduction to Econometrics (Econ 1123)
Students must take four research methods courses, including one course in research design.
Courses that fulfill this requirement include, but are not limited to:
- Introduction to Applied Econometrics (Econ 2120); (Econ 2110. Introductory Probability and Statistics for Economists may be a required prerequisite)
- Econometric Methods (Econ 2140)
- Topics in Applied Econometrics (MIT 14.387)
- Advanced Applied Econometrics (Econ 2144)
- Computational Economics (Econ 2149)
- Time Series Analysis (Econ 2142)
- Seminar in Applied Statistical Methods (HBS 4809)
Research methods courses that meet the research design course requirement include, but are not limited to:
- Advanced Quantitative Research Methodology (Gov 2001)
- Empirical Methods in Corporate Finance (HBS 4220)
- Matched Sampling and Study Design (Stat 240); (Stat 140 or Econ 1127 are strongly recommended as prerequisites)
- Design of Field Research Methods (HBS 4070)
- Experimental Methods (HBS 4435)
Accounting and Management students are required to take seven additional doctoral courses.
- Management Control and Performance Measures (HBS 4403)
- Empirical Research in Financial Reporting and Analysis (HBS 4250)
- Doctoral Seminar in Accounting (MIT 15.539)
- Two breadth courses
- Two elective doctoral courses
All students without an MBA degree are required to complete two case-based HBS MBA courses.
Students are strongly encouraged to attend and participate in seminars throughout their program. In the third year, students are required to attend Accounting & Management Unit Seminars .
Good Academic Standing
Teaching requirement.
Students must teach or assist with teaching in a formally offered course for one full academic term. This engagement should include, at least, 8 hours of front-of-class teaching and 16 hours of teaching preparation time. The requirement may be fulfilled by completing a teaching fellow or instructor assignment at a Harvard University
Special Field Exam
Students are required to pass the Special Field Exam at the end of the second year or beginning of the third year. This exam has two parts: a written exam and an oral exam based on the course syllabi from any relevant doctoral research seminars in financial or managerial accounting undertaken by students in the course of their studies.
Dissertation Proposal
By the end of their third year, all students are required to obtain approval of their dissertation proposal by their Dissertation Chair.
Dissertation
Students are required to write a dissertation, which typically takes the form of three publishable papers, to the satisfaction of their Dissertation Committee. The dissertation defense is oral and open to the public.
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The goal of the Accounting PhD program is to train students to do rigorous research in accounting, a specialized area of financial economics. An institutional understanding of how accounting information is used by capital market participants and/or within firms is useful and best obtained through relevant work experience, but is not required. The program is highly analytical and quantitative. Thus, a strong undergraduate preparation in microeconomics and mathematics is an advantage, as is some prior training at the undergraduate or graduate level in accounting, finance, or economics.
Except for the GMAT or GRE general test which is required of all applicants, there are no formal admission requirements. The TOEFL test must be taken by applicants whose native language is not English.
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Prepare to produce impactful research as an accounting scholar on your path to a tenure-track position at a leading university. Throughout the five-year program, you’ll explore emerging issues in accounting using insights from allied disciplines including, economics, statistics, finance, and political science. You’ll work closely with accounting faculty, globally recognized as some of the top minds in the field. They will serve as your mentors and colleagues while in the program and throughout your career.
The PhD program integrates emerging issues in accounting with insights from allied disciplines, such as economics, statistics, finance, organizational behavior, and political science. You will gain a comprehensive understanding of current accounting theory, practice, and research.
You are expected to have completed courses in introductory finance, advanced-level financial accounting, and intermediate managerial accounting in addition to the school’s required background and analytical tools courses. You are also required to complete the following minimum course requirements:
Econometrics/statistics (3 courses)
Economics (2 courses)
Finance (2 courses)
PhD seminars in accounting
Electives (normally fulfilled in economics, finance, statistics, or operations management)
The program requires two projects: a research proposal (at a minimum) completed in the first year, and a small-scale study completed in the second year.
After completing coursework and the first research project, you may take the preliminary written exam. Advance to candidacy after passing the exam and completing a second research project.
The remainder of the program is devoted to the dissertation.
Ross accounting faculty include some of the world's foremost business thinkers and innovative practitioners who focus on issues of importance to the accounting and business communities. Recent research topics include the impact of accounting information on capital markets, and the behavior of decision-makers within firms.
Learn more about the faculty and research contributions of the accounting area at Michigan Ross.
Wei Shao, 2023 China Europe International Business School
John Aland, 2021 Fairfield University
Jerry Mathis, 2021 Washington University
Madeline Thompson, 2021 University of Notre Dame
Andrea Down, 2020 University of Toronto
Ruby Lee, 2019 University of Florida
Reginald Edwards, 2018 Industry
Ryan McDonough, 2017 Rutgers University
Nayana Reiter, 2017 University of Toronto
Christina Synn, 2016 University of North Carolina
Jason Chen, 2015 University of Illinois, Chicago
Randy Hucks, 2015 Eastern Michigan University
Jed Neilson, 2015 Penn State
Jordan Schoenfeld, 2015 University of Utah
Current PhD students, the next generation of scholars preparing to solve the complex issues facing the accounting field.
Madeline Adler [email protected]
McKenna Bailey [email protected]
Heather Graham [email protected]
Vanessa Cardon [email protected]
Jonas Lee [email protected]
Kendall Lynch [email protected]
Angela Pae [email protected]
Sofia Martinez Dominguez [email protected]
Wren Redfield [email protected]
Douglas (DJ) Stockbridge [email protected]
Collin Whitmore [email protected]
Jon Woo [email protected]
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Making a measurable economic impact
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How do you measure the value of an economic policy? Of an aid organization’s programming? For Saeed Miganeh, who completed an MITx MicroMasters in Data, Economics, and Development Policy and is now enrolled in MIT’s master’s program in Data, Economics, and Design of Policy (DEDP), these are key questions he is determined to answer.
“Enrolling at MIT fed my interest in investigating the political economy questions surrounding the development of African countries,” he says. “It boils down to promoting pro-poor, evidence-based policymaking in the developing world.”
Miganeh earned a bachelor of business administration from the University of Hargeisa and completed coursework in Open University Malaysia’s master of business administration program. Before enrolling at MIT full time, he spent 14 years as an accountant with the United Nations’ International Organization for Migration . His work with the IOM fed his curiosity about intent and impact, particularly how political agendas can affect policy adoption, how safeguarding human rights strengthens peace and prevents conflict, how climate change adaptation policies affect the poor, and how promoting intra-African trade spurs economic growth in the continent.
“My journey to DEDP began when I earned a certificate in Monitoring and Evaluation offered by the International Training Center of the International Labour Organization ,” he recalls. “Our course coach recommended taking MITx courses, which led me to the MicroMasters program.”
Saeed grew up and completed his early education in the self-declared Republic of Somaliland during the reconstruction period after a decade-long civil war with Somalia. He was inspired by his country’s development of a functioning democracy and economy after conflict. Miganeh’s work is all the more impressive for someone who has lived almost exclusively there — with the exception of four years as a child spent in Ethiopia due to the civil war in Somalia — and whose studies have taken place entirely in the republic.
“Africa is the new battleground for fighting global poverty in the 21st century,” he says.
Practices and progress toward measurable improvement
Before pursuing graduate study at MIT, Miganeh worked in youth development programs with the Somaliland National Youth Organization . “I was the coordinator for one of their youth networks that worked on health,” he says. “After completing my undergraduate study, I assumed the position of finance officer for the organization.”
Later during his tenure with IOM, Miganeh learned that, while the organization has a central evaluation function that evaluates projects and programs, Somaliland’s governmental institutions lacked the capacity to effectively evaluate public policies and programs effectively. His work with the IOM helped him discover the practice areas where he might benefit from partnering with others possessing expertise he’d need to make a difference. “During my work with IOM, I was involved in development projects’ administrative and accounting functions,” he remembers. “I was interested in knowing how projects were impacting beneficiaries’ lives.
Miganeh wants to dig deeper into understanding and answering developing African countries’ political economy questions, noting that “development projects can consume lots of resources from design through implementation.” Ensuring these programs’ effectiveness is crucial to maximizing their impact and societal benefit. “Every country needs to have the necessary human capital to undertake evidence-based policy design to avoid wasting resources,” he says.
He returned to Somaliland to complete a capstone project that will allow him to put his newly acquired skills and knowledge to work. The project is an important part of his master’s program. “I’m [working] with the Somaliland Ministry of Education & Science , assisting in institutionalizing evidence-based policymaking in the education sector,” he says.
A unique vision to drive effective change
Miganeh is already planning to use the skills he’s acquiring at MIT to facilitate change at home. “I must discover and produce policy insights using my research and, with the guidance of the top academics and professionals at MIT and other institutions, translate them into effective policies that can make a demonstrable impact,” he says.
Miganeh reports that MITx’s MicroMasters and DEDP master’s programs help students develop the unique blend of skills — including the ability to leverage data-driven insights to design, implement, and evaluate public policies that improve societal outcomes — that can help them become effective agents of social change.
“My early enthusiasm for mathematics in high school and my later work in development organizations gave me the right combination to excel in the rigorous developmental economics coursework at MIT,” he says. “Once I’ve completed the program, I will establish a consultancy to advise government agencies, nonprofits, and the private sector’s corporate social responsibility departments on designing, implementing, and evaluating policies and programs.”
Miganeh lauded the faculty and students he encountered while continuing his studies. “I have developed professionally and personally,” he reports. He saved his highest praise for the Institute, however.
“Pursuing this master’s degree at MIT, where modern economics education has been reinvented and is home to faculty including Nobel laureates and other distinguished professors and scholars, was an enriching lifetime experience, personally and professionally,” he says.
“Looking back on discussions of how to tackle the world’s development challenges is a memory that will stay with me for the rest of my life.”
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COMMENTS
In addition to seminars in accounting and finance, students acquire the economics depth required of MIT Sloan's Finance PhD students. The accounting doctoral courses give students the opportunity to tap into recent faculty research and expertise on a wide range of topics that are of particular interest to accounting academics, practitioners, and standard-setters.
PhD Program curriculum at MIT Sloan is organized under the following three academic areas: Behavior & Policy Sciences; Economics, Finance & Accounting; and Management Science.
The mission of the MIT Sloan School of Management is to develop principled, innovative leaders who improve the world and to generate ideas that advance management practice. Find Us. MIT Sloan School of Management 100 Main Street Cambridge, MA 02142 617-253-1000. Links. Press.
Adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events generating them. Class sessions are a mixture of lecture and case discussion. Assignments include textbook problems, analysis of financial statements, and cases. Restricted to first-year Sloan master's students.
Students in the Institute for Work and Employment Research group study topics such as behavioral science, comparative employment relations, labor economics, labor standards in global value chains, political economy, subjective well-being, worker grievances and voice, and working time arrangements in organizations. IWER PhD Students.
Professor, Accounting, Emeritus Learn More Research Centers Research centers at MIT and MIT Sloan pursue solutions to the world's most significant challenges. Through collaboration with other top researchers and business leaders, MIT Sloan faculty and students have a powerful impact on leading organizations and on everyday life.
Admissions Requirements. The following are general requirements you should meet to apply to the MIT Sloan PhD Program. Complete instructions concerning application requirements are available in the online application. General Requirements. Bachelor's degree or equivalent. A strong quantitative background (the Accounting group requires calculus)
The Accounting Group at MIT's Sloan School offers undergraduate and masters courses, as well as a Ph.D. course of study.
A PhD in accounting will qualify you to work in academia or in leadership roles in finance. Learn the best PhD programs with this guide!
MIT Sloan PhD Program 77 Massachusetts Avenue Building E52 Cambridge MA, 02139 617-253-7188 [email protected] Website: MIT Sloan PhD Program Apply here Application Opens: September Deadline: December 1 at 11:59 PM Eastern Time Fee: $95.00
Given the supply shortage, every PhD student is guaranteed to have a job. - Each PhD program is typically 4 to 5 years in length, in which PhD students take advance, PhD-level Econ, Statistics, Finance, and Accounting classes, and write research papers. Accounting PhD programs (similar to any other PhD programs) are typically free of charge, as ...
Rodrigo Verdi is the Deputy Dean for Degree Programs, Teaching and Learning and the Nanyang Technological University Professor of Accounting at the MIT Sloan School of Management. He joined MIT Sloan in 2006 after receiving a PhD from the University of Pennsylvania and received tenure at MIT in 2013. He has taught financial accounting to ...
Accounting & Management The doctoral program in Accounting and Management, which falls under the PhD in Business Administration, focuses on understanding the role of information and measurement systems for: allocating resources among firms in the economy and between departments or divisions of individual firms; rewarding and monitoring the performance of managers; formulating, executing and ...
1. Reinforce and extend your understanding of accounting for property, plant, and equipment. 2. Better appreciate how the usage and judgment challenges are contextual, depending especially on the business, the individuals making decisions, and the regulatory environment.
Applicants interested in graduate education should apply to the department or graduate program conducting research in the area of interest. Some departments require a doctoral candidate to take a "minor" program outside of the student's principal field of study; if you wish to apply to one of these departments, please consider additional fields you may like to pursue.
PhD Program Wharton's Ph.D. program in Accounting trains students to be successful academic researchers. To this end, the program is designed to provide students with opportunities to learn to develop their own research ideas and to learn to implement appropriate research methods.
Year after year, our top-ranked PhD program sets the standard for graduate economics training across the country. Graduate students work closely with our world-class faculty to develop their own research and prepare to make impactful contributions to the field. Our doctoral program enrolls 20-24 full-time students each year and students ...
Certificate Opportunities for MIT Graduate Degree Students In addition to the standalone certificate program offerings, MIT offers a variety of certificate programs for MIT graduate students to accompany their graduate degree. Below is a list of certificate programs available to MIT degree students only. Business Analytics Certificate Program
Yet, it's our advocacy for a free and open society that truly sets us apart. During this program, you will have the opportunity to step into the shoes of a Koch team member and complete tasks that replicate the work that our accounting team does every day. You'll learn how to fulfill requests from upper management and analyze financial data ...
All Accounting and Management students are required to have completed one undergraduate or graduate course in introduction to Econometrics. If this requirement has not been fulfilled prior to matriculation, then an equivalent course will be required in the first term of the student's doctoral program.
PhD Admission Requirements The goal of the Accounting PhD program is to train students to do rigorous research in accounting, a specialized area of financial economics. An institutional understanding of how accounting information is used by capital market participants and/or within firms is useful and best obtained through relevant work experience, but is not required. The program is highly ...
Accounting PhD Faculty. Ross accounting faculty include some of the world's foremost business thinkers and innovative practitioners who focus on issues of importance to the accounting and business communities. Recent research topics include the impact of accounting information on capital markets, and the behavior of decision-makers within firms.
Before pursuing graduate study at MIT, Miganeh worked in youth development programs with the Somaliland National Youth Organization. "I was the coordinator for one of their youth networks that worked on health," he says. ... "During my work with IOM, I was involved in development projects' administrative and accounting functions," he ...