Cryptic crossword clue
Directed a chartered accountant to make cutback in universities 8

The most common and most likely answer to this crossword clue is the 8 letter word ACADEMIA

I've seen this crossword clue in The Daily Telegraph
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Buddy explains!

The straight part
We know that "in universities" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case in universities = academia.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does ACADEMIA mean?

ACADEMIA noun
  1. (collective) The scientific and cultural community engaged in higher education and research, taken as a whole.
  2. Continuous study at higher education institutions; scholarship.

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