ABERDEEN, S.D. – A proposed new master’s program in the Northern State University School of Business would fill a need in the regional workforce while setting NSU graduates apart from others in the accounting field.
Northern’s Master of Accounting Analytics would differ from the traditional master’s degree in accounting because it would incorporate additional skills relating to audit and forensics, said NSU School of Business Dean Dr. Tim Mantz. That includes fraud, valuation, risk analysis and performance measurements.
“There’s no program like this around,” Mantz said. “There’s nothing else in the state and I believe regionally there’s nothing quite similar.”
The program would give Northern students the advantage of a four-year degree with the additional year to obtain a master’s degree, which provides the potential for better compensation, Mantz said. It would also fill a need in the area. Members of Northern’s Business Advisory Board were very excited about the prospect of analytics when the topic was discussed.
“They said analytics are a skillset that everyone needs and can be used across every industry that was represented in the room,” Mantz said.
The board includes representatives from a broad range of industries, including Dacotah Bank, 3M, Midstates Printing, MyPlace Hotels and Molded Fiber Glass, among others.
Industry Perspective
“This is a very exciting program not only for NSU, but also for local businesses,” said Aberdeen 3M Plant Manager Allen Chasteen, a member of the NSU Business Advisory Board. “It gives all of us the opportunity to build operations, supply chain and analytics skill sets in recent graduates that will help us all perform at a higher level within months of graduation.”
Ross Manson, chief innovation officer for the nationwide CPA firm Eide Bailly, said looking at skills needed in their profession over the next five years, data analytics is what the company is seeking.
“We see it firmly as a need for us,” Manson said.
But it’s not just a way to make audits better, Manson said, it’s a way to make businesses better. Businesses in the future will need to enhance their analytics capabilities. With many different data points continuing to add volume and intelligence for an organization, if they don’t understand how that information was gathered and analyzed, it’s hard to inject it into the decision-making process.
Skills Also Needed at Undergraduate Level
Manson said courses should be injected into undergraduate programs as well as graduate. Data analytics is a skillset needed all around – Eide Bailly is looking to raise digital literacy of new hires, but also the capability of its current workforce.
NSU’s Mantz said the Business Advisory Board also discussed the need for analytics skills for undergrads, and Northern will be creating an analytics emphasis for undergraduate marketing and management programs as well.
‘Accountants of the Future’
Along with benefiting the region, the new master’s program would give students a competitive edge.
“Most of the students in the country are coming out with master’s in accountancy, or master’s in accounting,” Mantz said. “This analytics is a twist on it, so they will be able to sit for the CPA exam, but they also will be able to have this unique, additional skillset that will make them sort of like the accountants of the future.”
Manson agrees.
“We’ve identified this as a skillset that will be needed in the future, and I think the kids that begin down this path will have a jump on the rest of the profession.”
Learn More
The NSU Master of Accounting Analytics program is expected to go before the South Dakota Board of Regents at its upcoming meeting. For more information about business education at Northern, visit the NSU School of Business webpage.
About Northern State University
Northern State University is a regional university that offers outstanding academics and exceptional extracurricular activities at an affordable price on a safe, welcoming campus. Northern State recently announced its Educational Impact Campaign, with a goal of raising $55 million for a new South Dakota School for the Blind and Visually Impaired, new athletic and recreation fields, and an on-campus regional sports complex. Once the campaign is complete, NSU will be the recipient of more than $100 million in privately funded building projects and scholarships within a decade. To learn more, visit NSU Admissions.