If you’re interested in pursuing your PhD then you’ll be happy to know that there is no better time than now to get started in the accounting field.

Why?  Well, the CPA Journal reports that there is a serious shortage of professionals with a phd in accounting.  When it comes to teaching, the problem is made worse by the fact that many older professionals are retiring and there are not enough trained professors to take their places.  As of right now, there are only enough new accounting phds to handle 49% of the demand.  That’s a pretty big shortage.

What does this mean for you?  It means that if you take the time now to get your phd in accounting, you’ll have excellent career prospects when you’ve attained that coveted degree.  Whether you want to teach or work in the upper echelon in a Fortune 500 company, you’ll be in high demand with an accounting phd under your belt.

What You’ll Be Learning

Getting an accounting phd online degree is one of the best ways to broaden your horizons in the field.  You’ll gain an in-depth understanding on topics such as:

• Auditing
• Budget Analysis
• Management Accounting
• Forensic Accounting
• Tax Consulting
• International Accounting
• Accounting Information System Consulting
• And much more!

What To Expect With Accounting Online Ph.D. Programs

Getting a phd in accounting takes time, hard work, and plenty of smarts.  While each school is going to be different when it comes to requirements, there are a few common denominators.

First of all, your school is going to look at your past transcripts, your past work history, and your professional certifications which could include:

• CPA – Certified Public Accountant
• CMA – Certified Management Accountant
• CFE – Certified Fraud Examiner
• CIA – Certified Internal Auditor
• CFM – Certified Financial Management
• CFP – Certified Financial Planner
• EA – Enrolled Agent
• CGFM – Certified Government Financial Manager

You’ll also be required to take the Graduate Management Admission Test, or GMAT, to gain entrance to accounting online phd programs.  Your GMAT score is going to be a major factor your school considers when they decide to admit you into their phd program, so it’s vital that you study diligently for this!

Each school has different requirements when it comes to the score they’ll accept for admission, but you should aim for at least 600-700.

How To Pay For Your Accounting Ph.D.

If you’re considering an accounting phd online degree, then chances are pretty high you’re already working in the field, and have been for some time.  This means you’re probably making a pretty good salary, and this can be a hard thing to give up.

This is one of the major reasons why so many students choose to get their phd in accounting online.  Because you can study at home and attend class when it’s convenient for you, it’s possible to still work and have a family life.  If you attend a traditional brick and mortar school, however, it’s very difficult to work and go to school for a doctoral degree at the same time.

The good news is that there are plenty of scholarships and fellowships available for doctoral students.

Two major fellowships are the AICPA Fellowship for Minority Doctoral Students and the KPMG Minority Accounting Doctoral Scholarship.  Each of these typically offer recipients $8,000-$12,000 in aid per year.

There are, however, many more sources of aid than just these two, so it’s vital that you do your research here!

You’ll also have to factor in the costs of attending industry conferences.  While these lie outside your traditional schoolwork, many universities will want you to attend for the educational opportunities that they offer.  But, it will probably have to come out of your own pocket.  While some universities will pay for a portion of the fees, most of it will be your responsibility.

The Good News…

Yes, getting a phd online accounting degree is hard.  Yes, it can be expensive.  But, should you stick with it and get your phd online accounting degree then you’ll have plenty of career options available to you when you’re done.   Because fewer people are getting their accounting phd, this means that professionals with that title are in much higher demand than they used to be.

And if you want to teach at the university level, you’ll probably have your pick of schools.   Universities will soon be frantic for accounting professors, and if you’ve done any research into gaining tenure at a university then you’ll know that it’s a pretty sweet job to have.  You get a great salary, low stress, summers off, and amazing benefits.  And what’s better than that?