AACSB International stands for the Association to Advance Collegiate Schools of Business. AACSB was founded in 1916 and began its accreditation function with the adoption of the first standards in 1919.
Accreditation in the US takes place at different levels. The US Department of Education, the Council for Higher Education Association (CHEA) and the Association of Specialized and Professional Accreditors (ASPA) approve and grant power to associations that oversee accreditation at the regional, institutional or specialized program level. Institutional accreditation reviews entire colleges and universities, while specialized agencies award accreditation for professional programs and academic units in particular fields of study.
As a specialized agency, AACSB International grants accreditation for undergraduate and graduate business administration and accounting programs. As of December 2008, 560 member institutions in various countries hold AACSB business accreditation, of which 168 have additional specialized accreditation for their accounting programs.
Click here for a list of AACSB accredited Business schools in the US.