After previous extensive preparations, since 2015, The Faculty of Economics, University of Zagreb is in the formal process of obtaining the prestigious AACSB International accreditation. AACSB International (The Association to Advance Collegiate Schools of Business) was founded in 1916, and with 1,500 members in nearly 90 countries, is the oldest and largest international institution whose mission is to improve the quality of education in the field of business and economics. In the world, only 5% of higher education institutions have the AACSB accreditation, and among the accredited are renowned universities around the world, such as Harvard, Yale, Stanford and many others. Receiving the AACSB accreditation represents the highest achievement for higher education institutions that offer programs in business economics and economics in the world. The accreditation process is lengthy and rigorous, and requires the fulfillment of a large number of standards relating to key areas of higher education institutions. In particular, there are about 15 standards covering four key areas - strategic management and innovation institutions, participants in the processes of the institution of the students to the teaching and non-teaching staff, provision of learning goals and academic and professional engagement. This accreditation requires continued commitment to achieving the highest standards of quality and continuous improvement programs. In order to ensure the sustainability of quality, one accredited institution must repeat the process every five years going through the process of re-accreditation. A great effort is invested by numerous employees at our faculty in order to fulfill the criteria of the AACSB accreditation, as well as other important international and national accreditations. The fact is that the formal and content elements of the accreditation process at our faculty, with a lot of enthusiasm, is dealt with by a large number of teachers, assistants and administrative staff. This is encouraging because the prestigious accreditation is not only a formal obligation, but also an opportunity to really improve the work of our faculty and all the key stakeholders in the teaching and research process. During the accreditation process all institutions are assigned a teacher-mentor. The Faculty of Economics is assigned to Professor Michael J. Ginzberg from the Worcester Polytechnic Institute, dean of the local business school - Foisie School of Business. The dean of our faculty, prof. Ph. D.. Lajos Zager met with him at a working meeting, at the annual conference of deans - AACSB Deans's Conference, which is from the 31st of January to the 2nd of February 2016, held in Miami (Florida, USA). This year's conference was about Innovations That Inspire, and gathered more than 600 deans and leading experts in the field of economics and business.