MACC and MBT: Business Community Ties Provide Expert Accounting Sources

By Kevin Moe

Navigating the waters of an ever-changing business environment with expanding regulations and tax law complexity takes a steady hand at the wheel. The Master of Accountancy (MAcc) and Master of Business Taxation (MBT) programs at the Carlson School provide the means necessary for graduates to handle even the choppiest waters.

“MAcc graduates face the challenge – and opportunity – of an accounting profession that is going through unprecedented change,” says Program Director Larry Kallio. Some of these changes include the continuing efforts to converge accounting principles (the United States’ Generally Accepted Accounting Principles and the International Financial Reporting Standards), the potential development of a separate set of accounting principles for privately held companies, and the ongoing development and support of two sets of auditing standards in the U.S. Through MAcc, students stay on top of these shifting subjects.

 “The MAcc curriculum combines graduate-level accounting courses with a unique blend of courses in tax, finance, management, and technology from our MBA and MBT programs,” Kallio says.

To help prepare its students, MAcc has extensive relationships with a number of firms and companies and incorporates technical accounting, auditing, financial reporting, and regulatory material from them directly into the classroom. “MAcc classes frequently include partners and executives from the business community as guest speakers,” Kallio says. “The guest speakers and course materials provided by the firms and companies have allowed the MAcc program to include unique courses, such as our Securities and Exchange Commission and Internal Control courses.”

The MBT program also has an extensive network of outside experts to draw upon. “MBT has been a partner with the Minnesota accounting community for over 30 years,” says Program Director Mark Sellner. “MBT students and alumni are represented at 24 of the largest 25 Twin Cities CPA firms and at 22 of Minnesota’s largest 25 public companies.”

MBT students develop a strong foundation in taxation with required courses in Tax Research and Tax Accounting Methods. “This base allows them to respond and adapt to the changing tax environment,” Sellner says. “MBT has tackled the issue of complexity by teaming with subject matter experts in the business community to offer cutting-edge courses.

“MBT’s connections and relationships are valuable to students in the stature the degree brings to their current positions and in their job searches. The most prevalent job requirement in the tax community is ‘CPA required, MBT preferred.’”