The authors identified the type and magnitude of costs colleges and schools incur when seeking Association to Advance Collegiate Schools of Business (AACSB) International accreditation. This issue is important to the 156 schools and colleges currently seeking initial accreditation by AACSB and to the thousands of schools worldwide that could seek accreditation. Although the changes in the AACSB accreditation standards opened the door to many smaller teaching-oriented schools, the revised standards may induce schools with limited resources to seek accreditation. The authors identify significant costs in becoming accredited and a considerable increase in annual operating costs to maintain accreditation. The 10 schools in the present study experienced 1-time initial expenditures and increased annual expenses. Business school deans and university administrators need to be aware of the initial costs of accreditation along with the increased annual costs. (Contains 4 tables.)