The accountancy program is one of five departments in the Nelson Rusche College of Business and was established in 1942. Since then over 3,000 degrees for accounting majors have been awarded. The program school offers both a bachelors and masters degree in accounting.
In 2006 alumni Gerald W. Schlief donated $2 million to create the Gerald W. Schlief Department of Accounting Endowment Fund. As a result of the gift the Board of Regents changed the Department of Accounting to the Gerald W. Schlief School of Accountancy.