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Accounting Schools in Indiana

This guide to accounting schools in Indiana provides you with comprehensive information on the schools and programs offering master’s in accounting programs in the state. You will find information on the process for Certified Public Accountant (CPA) licensure, data on employment levels and salaries for accountants and auditors, and a table providing information on all not-for-profit schools with graduate-level accounting programs in the state. We have also provided profiles of select traditional and online masters-level accounting programs. Several Indiana schools also offer hybrid or online master’s in accounting options, which offer more flexible educational opportunities to busy students.

Quick Facts

For not-for-profit colleges and universities with accounting degree programs.

Table of Contents
Steps to Become a CPA in Indiana
Indiana CPA Salary and Job Outlook
Top Master’s in Accounting Programs in Indiana
Indiana Master’s in Accounting Program Comparison
Select Schools in Indiana with Master’s in Accounting Programs
Additional Resources
Frequently Asked Questions
Student Reviews

Steps to Become a CPA in Indiana

The Indiana Board of Accountancy (the Board) oversees the process for becoming a CPA in the state. There are five main steps to complete in order to earn a CPA license in Indiana.

  1. Complete 150 semester hours of college-level education in accounting.
  2. Accumulate the required hours of experience.
  3. Pass the Uniform CPA Examination.
  4. Apply for a license.
  5. Receive a license.

1. Complete 150 semester hours of college-level education in accounting.

Candidates for CPA licensure in Indiana must first complete at least 150 semester hours of postsecondary education, including at least a bachelor’s degree and a concentration in accounting or equivalent to sit for the Uniform CPA Exam. A concentration in accounting must consist of at least 24 semester hours in accounting at the undergraduate level or 15 semester hours in accounting at the graduate level in subjects including:

  • Financial accounting
  • Auditing
  • Taxation
  • Managerial accounting

Prospective CPAs must also complete at least 24 semester hours in business administration and economics courses including the following subjects:

  • Business and tax law (up to six semester hours)
  • Computer science (up to six semester hours)

2. Accumulate the required hours of experience.

At least two years of experience in accounting are required to earn a CPA license in Indiana. Indiana defines accounting experience as providing services or advice that use accounting, attest, compilation, management advisory, financial advisory, tax, or consulting skills. The experience may take place in government, academia, industry, or public practice. Experience does not need to be performed under the supervision of a licensed CPA but must be certified by a licensed CPA. With Board approval, an advanced degree in accounting or business administration, coupled with the completion of the 150-semester hour requirement, may be substituted for work experience.

3. Pass the Uniform CPA Examination.

Candidates who have completed the education requirement may apply to take the American Institute of Certified Public Accountants (AICPA) Uniform CPA Exam. Indiana uses the National Association of State Boards of Accountancy (NASBA) to administer the exam, which is a requirement for CPA licensure in all 50 states. All four sections of the exam must be passed with a score of 75 or higher within a rolling 18 month period. Applications for the exam must be submitted through the NASBA website. Test scores and education experience will be forwarded to the Board by NASBA.

4. Apply for a license.

Once the educational and experience requirements have been met and the Uniform CPA Exam has been passed, prospective CPAs may submit the application for licensure along with the notarized Verification of Experience form to the Board for a license. The application forms are available on the Board’s website.

5. Receive a license.

Once the application is approved, the applicant will be notified by email that the license has been granted. At that point, applicants will pay a prorated license fee. New licensees will not be issued any physical credentials but may download a free license card and/or order a wall certificate.

CPA License Renewal and Continuing Education Information

Indiana CPA licenses are renewed on a three-year cycle. For each three-year renewal period, CPAs must complete 120 hours of continuing professional education (CPE), with at least 20 hours per calendar year. At least four hours must be in ethics and at least 12 hours must be in accounting or auditing subjects. No more than 60 hours of CPE may be in a self-study format. You can find additional information on the Board’s website.

Indiana CPA Salary and Job Outlook

According to the Bureau of Labor Statistics (BLS), about 20,910 CPAs and auditors work in Indiana, with an average annual salary of $71,690.10 The Indianapolis metropolitan area has the highest employment in the state with about 9,140 accountants and auditors.10 The Chicago-Naperville-Elgin metropolitan area, which includes much of Northwest Indiana, has the third-highest employment for accountants in the nation with about 43,820 accountants and auditors.11 Employment in the field in Indiana is expected to grow by 7.3% through 2028, slightly faster than the national average of 6.4%, to a projected total of 23,670 accountants and auditors in the state.12

Indiana CPA Salary by Metro Area

Metro AreaNumber Employed10Average Annual Salary10
Columbus460$76,100
Elkhart-Goshen840$64,540
Evansville840$62,650
Fort Wayne1,700$66,670
Indianapolis-Carmel-Anderson9,410$76,930
Lafayette-West Lafayette610$60,170
South Bend-Mishawaka990$81,010

Top-Ranked Schools with Master’s in Accounting Programs in Indiana

Forbes’ Best Business Schools* 2019

  • Indiana University (#19)
  • University of Notre Dame (#25)
  • Purdue University (#40)

*With master’s in accounting programs.

Princeton Review’s Great Schools for Accounting Majors* 2020

  • Indiana University

*With master’s in accounting programs.

Public Accounting Report’s Top 50 Master’s Accounting Programs 2019

  • University of Notre Dame (#4)
  • Indiana University (#8)

US News & World Report’s Best MBA Accounting Programs 2021

  • Indiana University (#12)
  • University of Notre Dame (#14 tie)

Indiana Master’s in Accounting Program Comparison

Below we have compiled a table including information about all not-for-profit Indiana colleges and universities offering a master’s degree in accounting. The graduation rate is for first-time undergraduates seeking a bachelor’s degree, but since it is widely considered to be an indicator of a school’s overall success, we have included it for comparison. Also please note that tuition per credit is based on in-state, on-campus tuition; per-credit rates may vary for out-of-state and online students.

School NameAccreditationCPA Exam Pass Rate6Master’s in Accounting Degree(s)Acceptance Rate13Grad Rate1Online Options?Tuition per Credit
Anderson UniversityACBSPN.Av.MBA-AccountingN.Av.60%$600
Ball State UniversityAACSB58.8%MS-AccountingN.Av.67%$424
Butler UniversityAACSBN.Av.Master of Professional Accounting (MPAcc);
BS-Business/Master of Professional Accounting (MPAcc)*
N.Av.82%$895
Indiana Institute of TechnologyIACBEN.Av.MBA-AccountingN.Av.37%Yes$515
Indiana University-BloomingtonAACSB81.7%MS-Accounting (MSA)49.9%79%$346
Indiana University-KokomoAACSBN.Av.MBA-Accounting60%38%$371
Indiana University-Purdue University-Indianapolis55.4%MS-Accounting (MSA);
MS-Taxation (MST);
MBA-Accounting
N.Av.50%$630
Indiana Wesleyan University-National & GlobalACBSP51.0%MS-Accounting (MSA)N.Av.38%Yes$559
Purdue University GlobalACBSPN.Av.MS-Accounting (MSA)N.Av.27%Yes$485
Purdue University-Main CampusAACSB64.5%MS-Accounting (MSA);
MBA-Accounting
59.4%82%$500
Purdue University NorthwestAACSBN.Av.Master of Accountancy (MAcc);
MBA-Accounting
N.Av.38%$302
University of Notre DameAACSB73.7%MS-Accounting53.1%96%$1,497
Univeristy of Saint FrancisN.Av.MBA-AccountingN.Av.55%Yes$798
University of Southern IndianaAACSBN.Av.MBA-AccountingN.Av.50%Yes$401

  • * indicates combined program.
  • — indicates none.
  • N.Av. indicates no data available.

Select Schools in Indiana with Master’s in Accounting Programs

Traditional Programs

Ball State University

Ball State University (BSU) offers a Master of Science (MS) in Accounting through its Miller College of Business to supplement the skills and theory learned in an undergraduate business degree. Graduates of the program should meet the educational requirement for a CPA license. The 30-credit hour program offers the choice of concentration in either Public Accounting or Research and Analytics. The core curriculum includes coursework in Tax Planning and Research; Attestation Principles and Practices; and International Accounting Issues. Students can take up to six credit hours outside of the accounting department under the guidance of a graduate advisor. Applicants for the program must demonstrate competency in basic accounting principles by completing six credit hours of foundational courses or their equivalents. An undergraduate degree in accounting or business will usually include the necessary coursework. Retention in the program requires a 3.0 GPA and no grade lower than a “C” in any class. Graduate assistantships are available to assist with the cost of tuition.

Indiana University

The Kelley School of Business at Indiana University (IU) offers a Master of Science in Accounting (MSA) through its Bloomington campus that can be completed in one year. The MSA requires at least 30 credit hours to complete and should meet the 150-hour requirement to sit for the CPA exam. The program requires 21 credit hours of required courses, including Strategic Cost Management, Corporate Taxation, and a Field Consulting Project in which students apply their coursework to a semester-long consulting project for a local business. The remaining nine courses are electives. The elective coursework offers two further opportunities for field studies: The Deloitte Assurance Learning Lab offers a two-day field trip to New York City in March and the Washington Campus Accounting and Public Policy course culminates with a field trip to Washington DC to meet with policymakers and other industry leaders. Applicants to the MSA program must have completed an undergraduate degree or higher with at least a 3.2 GPA and must submit GMAT or GRE scores. Incoming students complete all prerequisite courses before beginning the program.

Purdue University

Purdue University Northwest (PNW) offers a Master of Accountancy (MAcc) program that prepares students to pursue accounting careers in public practice, industry, or non-profits. Students with an undergraduate degree in accounting typically meet the requirements to sit for the Uniform CPA exam. The 30-credit hour program can be completed in one to two years. The program offers two concentrations, Forensic Accounting Data Analysis or Taxation. All MAcc students will take 21 credits of Accounting Core Courses and nine credits of electives. Core MAcc courses at PNW include Management Accounting II, Advanced Taxation, Advanced Accounting, and Fraud Investigation. Program applications are considered on a rolling basis during the fall, spring, and summer semesters. Students who do not hold an undergraduate degree in accounting are required to complete leveling courses in accounting and related subject areas, which will not be counted towards the MAcc program requirements. Graduates of the MAcc program have gone on to work for firms such as Ernst & Young, Caesars Entertainment, and NiSource.

Online and Hybrid Programs

Indiana Wesleyan University

The DeVoe School of Business at Indiana Wesleyan University (IWU) offers a Master of Science in Accounting (MSA) available entirely online. The MSA program is structured to allow students to work towards their personal career goals while preparing for the CPA exam. The program requires 36 credit hours to complete and takes around 18 months with classes taken sequentially, one at a time. Coursework for the MSA can take a variety of forms, including virtual reality, video discussion, concept maps, and pre-recorded videos. Students will take 24 credits of core courses such as Ethics and Business Law for Accountants; Advanced Managerial accounting; and Accounting Information Systems and Control. The program features a Financial Accounting specialization that fulfills the remaining 12 credits. Admission into the MSA program requires a bachelor’s degree or higher and an undergraduate GPA of at least 2.5. Students must have a minimum 3.0 GPA to graduate and at least a “C” grade in each course.

University of Saint Francis

The University of Saint Francis (USF) offers a Master of Business Administration (MBA) with an Accounting concentration that can be completed in person or online. USF’s 36-credit hour program takes between 12 and 18 months to complete. The MBA coursework is divided into three areas, Core Courses, Competency Areas, and Concentration Areas. Core MBA classes include Marketing Management, Macroeconomics in a Global Economy, and Operations Management. Students in the Accounting concentration will take courses such as International Accounting & Reporting; Fraud Examination; and Financial Statement Analysis. The program is designed for students with a bachelor’s degree in a business field, and two years of management experience or appropriate business exam scores. USF will accept students without a bachelor’s degree in business provided they have completed the necessary prerequisite coursework. Students in the MBA program may complete a dual degree with a Master of Science (MS) in Health Administration, Management, or Training and Development.

University of Southern Indiana

The University of Southern Indiana’s (USI) Romain College of Business offers an online Master of Business Administration (MBA) degree with a concentration in Accounting that can be completed either online or in a hybrid format. This 30-credit hour program can be completed in as little as one year, though part-time hybrid students have the option to complete the degree at a slower pace. The program is divided between 21 credit hours of core coursework in business administration subjects and nine credit hours of accounting concentration courses. Accounting-specific courses include Financial Statement Analysis; Seminar in Auditing; and Accounting Regulation and Compliance. All students must pass an end-of-program assessment to graduate. Admission into the program requires a bachelor’s degree or higher and an acceptable score on either the GMAT, GRE, or GMAC ESA test. The testing requirement may be waived for students who have a graduate degree, a suitable combination of work experience and undergraduate performance, or who are members of the Beta Gamma Sigma professional fraternity. Students must maintain a 3.0 GPA to remain in good standing in the program.

Additional Resources

Top Accounting Firms for Graduates in Indiana

  • Alerding CPA Group (Alerding & Co.): Offers a full spectrum of CPA and advisory services to clients across a broad range of industries.
  • Kemper CPA Group: With 11 offices throughout Indiana, Kemper offers a full suite of accounting, audit, and tax services to its clients.
  • Swartz Retson: The largest accounting firm in northwest Indiana and offers services to businesses and individuals throughout the Chicago/northwest Indiana area.

Indiana Accounting Associations

  • Indiana CPA Society (INCPAS): With nearly 7,500 members statewide, the INCPAS advocates for the accounting profession through education, public awareness, government relations, and the promotion of high ethical standards.
  • Indiana Society of Accountants (ISA): The Indiana chapter of the National Society of Accountants, the ISA provides members with CPE to help them understand and abide by the latest changes in tax laws.

Frequently Asked Questions

How much does a CPA make in Indiana?

The BLS reports that the average salary for accountants and auditors in Indiana is $71,690 annually.10 The highest average salary for accountants is in the South Bend-Mishawaka metropolitan area at $81,010.10 Accountants and auditors in the Indianapolis area, the area with the highest employment in the field, make an average yearly salary of $76,930.10

How do you become a CPA in Indiana?

To become a CPA in Indiana, you must first complete 150 credit hours of acceptable college-level coursework including at least a bachelor’s degree and a concentration in accounting. You must also complete two years of CPA-certified work experience in accounting. Once the education is complete, you must pass the Uniform CPA Exam through NASBA with a score of 75 or better. Then, you must submit certification of your work experience and the license application to the Board. Finally, upon receiving notification of licensure from the Board, you must pay the licensing fee and you will be able to practice as a CPA.

What happens if I let my CPA license expire?

Licenses that are not renewed by the due date or for which the renewal fees are not paid will expire. Once your license expires, you will not be able to practice as a CPA until it is renewed. You can renew an expired license by filling out the Certified Public Accountant Expired Renewal form, available on the Board’s website. If you wish to maintain your license, but cease practice as a CPA, you may put your license on inactive status. Inactive licenses are still assessed all fees and renewal deadlines but have no CPE requirements.

Student Reviews

Note: Student Reviews are based on the experiences of a few individuals and it is unlikely that you will have similar results. Please review the “Data, Student Reviews and Other Information” section in our Terms of Use and Disclaimers.

Indiana University
107 S Indiana Ave
Bloomington, IN 47405
(812) 855-4848

https://www.indiana.edu/

Student Review: “The Kelley School of Business at Indiana University has helped me for my future. The best part about my education was I-Core, a semester-long program that every student is required to complete. The course consisted of 14 weeks of lecture in Finance, Marketing, Strategy, and Operations. After the lecture section, we had 2 weeks of a 2 credit case competition. This case brought all of the material together and forced teams to their limit academically and mentally. I personally feel that I am a better business person because of I-Core. Also, the professors were always great and professional.” – Student at Indiana University
stars-4

References:
1. National Center for Education Statistics College Navigator: https://nces.ed.gov/collegenavigator/
2. Forbes Best Business Schools 2019: https://www.forbes.com/business-schools/list/2/
3. The Princeton Review. The Best 385 Colleges, 2020 Edition. The Princeton Review, 2019.
4. Public Accounting Report 2019 Top 50 Master’s Accounting Programs: https://wpcarey.asu.edu/sites/default/files/par-grad-2019.pdf
5. US News & World Report Best MBA Accounting Programs 2021: https://www.usnews.com/best-graduate-schools/top-business-schools/accounting-rankings
6. National Association of State Boards of Accountancy. The NASBA Report on the CPA Exam: Candidate Performance on the Uniform CPA Examination, 2018 Edition. National Association of State Boards of Accountancy, Inc., 2019.
7. Association to Advance Collegiate Schools of Business (AACSB) International: https://www.aacsb.edu/
8. Accreditation Council for Business Schools and Programs (ACBSP): https://acbsp.org/
9. International Accreditation Council for Business Education (IACBE): https://iacbe.org/
10. Bureau of Labor Statistics, Occupational Employment Statistics, May 2019 State Occupational Employment and Wage Estimates, Indiana: https://www.bls.gov/oes/current/oes_in.htm
11. Bureau of Labor Statistics, Occupational Employment Statistics, May 2019 Occupational Employment and Wages, Accountants and Auditors: https://www.bls.gov/oes/current/oes132011.htm
12. Projections Central, Long Term Occupational Projections: https://projectionscentral.com/projections/longterm
13. US News & World Report Best Business Schools 2021: https://www.usnews.com/best-graduate-schools/top-business-schools