This degree provides a research-oriented terminal qualification for those seeking entry-level faculty positions in accounting. Students take approximately three years of course work beyond the bachelor's degree, including a doctoral sequence designed to expose students to various areas of accounting research. Courses in accounting and other areas are selected to supplement the student's individual background and to prepare the student in an area of accounting specialization (financial, managerial, auditing, tax or systems). The final year is normally spent completing the doctoral dissertation.

The PhD normally requires four years of intensive study and research beyond the master's degree. Typically, the first two years of a student's program consist of course work, writing, and research. The third and fourth years require completion of courses, the comprehensive exam, and completion of the dissertation. It is emphasized that the PhD program is structured for full-time students only. Upon acceptance of a student by a particular departmental faculty, the student is expected to remain in residence until the dissertation has been completed and all requirements are met for completion of the PhD.