There are two types of educational accreditation: institutional and specialized. In most countries, some form of institutional accreditation is mandatory for schools to obtain the authority to grant degrees. Institutional accreditation generally applies to the entire organization and ensures that it meets and maintains a set of minimum criteria for faculty, administration, instructional and financial resources, physical facilities, students, and curricula. In the United States, institutional accreditation is only mandatory for an institution to receive federal funds and is conducted by six regional accreditation associations.
Once institutional accreditation is achieved, schools can apply for additional accreditations or specialized, professional accreditation for their professional schools or colleges. Specialized accreditation demonstrates true quality and a strong commitment to excellence within professional programs. Nursing, medicine, engineering, business, law, and a variety of other disciplines have specialized accreditation that is provided by various accrediting ensuring graduates are well-prepared for their chosen professions. Specialized, professional accreditation is an external validation of quality and should be a factor in choosing a school to attend.
In the field of business, AACSB International - the Association to Advance Collegiate Schools of Business - is the largest and the longest standing specialized accrediting agency for business and accounting programs in the world.
–Manage resources to achieve a vibrant and relevant mission
–Provide high-caliber teaching of current curricula by highly qualified faculty
–Cultivate meaningful interaction between students and faculty
–Produce graduates who have achieved specified learning goals
–Advance business and management knowledge through faculty scholarship
Schools achieving AACSB Accreditation meet the highest standards worldwide demonstrating their on-going commitment to quality through continuous improvement. Accredited schools can attract more funding, higher caliber faculty, and better students.
AACSB Accreditation recognizes each school's distinct mission. The nearly 600 AACSB-accredited schools around the world pursue a variety of strategic goals in teaching and research while sharing one powerful value: educational excellence based on continuous improvement and high-quality. Graduates of these schools are prepared to compete in a global economy based on a set of required learning outcomes.
AACSB Accreditation Standards for Business
AACSB Accreditation Standards for Accounting
"The Fundamentals of Accreditation, What Do You Need to Know?" a very useful question and answer document by the Council for Higher Education Accreditation.