Massachusetts Institute of Technology jumped to first place in a new ranking of the world's best universities by U.S. News & World Report. Top schools for accounting and finance were also ranked.

The World's Best Universities rankings include the following lists: Top 400 Universities Worldwide, Top 100 Asian Universities and Top 100 Latin American Universities. In addition to the regional rankings, there are also global rankings in 25 different subject disciplines, such as electrical engineering, accounting and finance, biological sciences, and the newly added communication and media studies.

The top 10 schools in the magazine's fifth annual ranking are:
Massachusetts Institute of Technology (United States)
University of Cambridge (United Kingdom)
Harvard University (United States)
UCL (University College London) (United Kingdom)
University of Oxford (United Kingdom)
Imperial College London (United Kingdom)
Yale University (United States)
University of Chicago (United States)
Princeton University (United States)
California Institute of Technology (United States)

Schools topping the list for accounting and finance are:
Harvard University (United States)
Massachusetts Institute of Technology (United States)
London Business School (United Kingdom)
Stanford University (United States)
London School of Economics and Political Science (United Kingdom)
University of Pennsylvania (United States)
University of Oxford (United Kingdom)
National University of Singapore (Singapore)
University of Chicago (United States)
University of Cambridge (United Kingdom)

The World's Best Universities rankings, updated annually by U.S. News, are based on the 2012 QS World University Rankings, developed by QS Quacquarelli Symonds, a leading global career and education network. Using a different methodology and ranking data than the well-known U.S. News Best Colleges rankings, the World's Best Universities rates schools on factors such as academic reputation, the proportion of international faculty, and the proportion of international students.

To explore all the lists, click here.