2013 Accounting Standards

AACSB International—The Association to Advance Collegiate Schools of Business, advances quality management and accounting education worldwide through accreditation, thought leadership, and value-added services. Through its business and accounting accreditation standards and processes, AACSB recognizes institutions, business schools, and accounting academic units that uphold its mission and core values, advance the interests of management and accounting education, and participate in AACSB’s global community of leading business schools and accounting programs. In this context, AACSB focuses on continuous quality improvement in management and accounting education through innovation, engagement, and impact.

The association was founded in 1916 and established its first standards for degree programs in business administration in 1919. AACSB adopted additional standards for undergraduate and graduate degree programs in accountancy in 1980 to address the special needs of the accounting profession. The association regularly reviews its accreditation standards and processes for opportunities to improve relevance, maintain currency, and increase value. The association most recently adopted major revisions to the business accreditation standards in 1991 and2003. The accounting accreditation standards were most recently revised in 2004. The current business and accounting standards were adopted by the AACSB Accreditation Council in April 2013.

A collegiate business school offering degrees in business administration may volunteer for an AACSB accreditation review. An accounting academic unit may seek an additional programmatic accreditation in accounting from AACSB as an extension of the business accreditation process. The two sets of standards are closely aligned. As a first step, the business school and the accounting academic unit must establish their eligibility for accreditation. During the initial accreditation process, the business school and accounting academic unit are evaluated on how well they align with AACSB’s accreditation standards, through a process of self-evaluation and peer review. After earning AACSB accreditation, the business school and accounting academic unit undergo periodic peer reviews of their strategic improvement to continue their accreditation.

AACSB is a non-profit corporation of business schools, accounting programs, corporations, and other organizations devoted to the promotion and improvement of higher education in business administration and accounting.

AACSB supports and upholds the Code of Good Practice for Accrediting Bodies of the Association of Specialized and Professional Accreditors (ASPA). www.aspa-usa.org

AACSB is recognized by the Council for Higher Education Accreditation (CHEA). www.chea.org