The universities and colleges in Minnesota offer a broad array of accounting programs for those interested in a career in the field. This overview of accounting schools in Minnesota will provide you with the information you need to select a school that fits your needs. Programs range from undergraduate to graduate degrees, with various concentrations and formats offered. Read on below to learn more about school rankings, career outlooks, and professional opportunities in the accounting field in Minnesota.

Table of Contents

Comparison of Minnesota Accounting Schools and Programs

The table below provides detailed information on not-for-profit accounting programs in Minnesota to help you compare your options. Programs that appear in bold text offer hybrid or online options.

SchoolAccreditationAccounting Degree(s)Acceptance Rate10Grad Rate1Avg Net Price1Median Debt*10Median Earnings 10 Years After Entry**10
Augsburg UniversityACBSPBA-Accounting;
Adult Undergrad BA-Accounting;
Minor-Accounting		76.4%56%$25,409$25,347$56,814
Bemidji State UniversityIACBEBS-Accounting;
Minor-Accounting;
Minor-Fraud Examination;
4+1 Accelerated BSA/MBA		75.0%50%$15,561$19,750$50,297
Bethel UniversityACBSPBS-Accounting;
BS-Accounting and Finance;
Adult Undergrad BS-Accounting		88.7%75%$29,915$21,500$58,664
College of Saint Benedict—BA-Accounting;
BA-Accounting: Finance;
BA-Public Accounting;
Minor-Accounting		91.8%78%$28,746$26,944$61,071
College of Saint Scholastica—BA-Accounting;
Minor-Accounting		73.7%67%$24,578$20,000$61,672
Concordia College at Moorhead—BA-Accounting;
Minor-Accounting		72.0%69%$23,087$26,847$55,054
Concordia University-Saint Paul—BS-Accounting;
Minor-Accounting		67.9%51%$17,776$17,832$56,424
Crown College—BS-Financial & Accounting Management65.1%52%$25,504$22,500$45,299
Gustavus Adolphus College—BA-Accounting;
BA-Public Accounting;
Minor-Accounting		72.6%76%$30,297$26,774$63,218
Hamline University—BBA-Accounting76.4%69%$23,021$23,770$57,170
Metropolitan State UniversityACBSPBS-Accounting;
Minor-Accounting		66.6%33%$19,347$17,100$60,744
Minnesota State University-Moorhead—BS-Accounting;
Minor-Accounting;
MBA-Accounting & Finance		71.7%55%$17,939$20,000$49,476
Minnesota State University-Mankato—BS-Accounting;
Minor-Accounting;
MAcc;
Grad Cert-Taxation		69.5%53%$16,809$21,106$55,008
North Central University—BS-Accounting;
Minor-Accounting		94.0%59%$23,374$23,200$42,445
Oak Hills Christian College—BS-AccountingN.Av.53%$20,744$20,980$31,021
Saint Cloud State University—BS-Accounting;
MBA-Accounting;
Grad Cert-CPA Exam Education Eligibility;
Grad Cert-Data Analytics 		94.3%44%$14,065$21,058$53,448
Saint John’s University—BA-Accounting;
BA-Accounting: Finance;
BA-Public Accounting;
Minor-Accounting		88.7%76%$27,982$27,000$75,423
Saint Mary’s University of MinnesotaIACBEBS-Accounting;
MSA		97.8%65%$22,843$21,500$58,188
Southwest Minnesota State University—BS-Accounting;
Minor-Accounting		91.0%41%$15,004$20,500$46,644
St Catherine UniversityACBSPBSBA-Accounting;
Minor-Accounting		74.9%64%$19,976$24,181$54,838
University of Minnesota-CrookstonACBSPBS-Accounting;
Minor-Accounting		48.2%53%$12,894$20,500$49,197
University of Minnesota-Duluth—BAcc;
Minor-Accounting;
4+1 Accelerated BAcc/MBA		79.5%62%$18,031$22,024$59,144
University of Minnesota-Twin Cities—BSB-Accounting;
Minor-Accounting;
MAcc;
MBT;
PhD-Business Administration: Accounting		73.2%84%$16,018$19,500$65,087
University of Northwestern-St Paul—BS-Accounting;
Minor-Accounting;
Accelerated BS-Accounting/MBA		82.3%70%$25,704$21,325$47,202
University of St Thomas—BSBA-Accounting75.5%80%$30,137$23,250$72,582
Winona State University—BS-Accounting;
Minor-Accounting;
Dual BSA/MPAcc;
MPAcc		76.9%60%$18,187$21,500$55,391

Table Notes:
*Median Debt: The median debt is the cumulative federal loan debt, excluding PLUS loans, at the time of graduation for students who completed an undergraduate program (certificate, associate, or bachelor’s degree) as reported by College Scorecard for academic year 2020-2021 based on ​​National Student Loan Data System (NSLDS) data.
**Median Earnings 10 Years After Entry: Median earnings are the middle value of earnings, at which half earned more and half earned less, measured 10 years (2020-2021) after the first year of study (2010-2011) for all students, institution-wide, who received federal loans and who are employed but not enrolled in school. Note that this value includes those who completed their program of study as well as those who discontinued study without receiving an award.

Top-Ranked Accounting Schools in Minnesota

College rankings can be a useful tool to measure the overall reputation of a school or program. Weighing multiple rankings when evaluating your college choices can be helpful because different publishers may use different ranking factors in their methodologies. While the best program for your goals may rely on a combination of factors not typically considered in overall rankings, such as location or funding, seeing a program ranked on multiple lists can be a strong indication of reputation and academic quality.

College Factual’s Best Accounting Schools 2023

  • University of Minnesota-Twin Cities (#24)
  • University of St. Thomas Minnesota (#65)
  • Saint Mary’s University of Minnesota (#207)
  • Minnesota State University-Mankato (#252)2

US News & World Report’s Best Online Bachelor’s in Business Programs 2023

  • Concordia University-St. Paul (#91 tie)5

US News & World Report’s Best Undergrad Accounting Programs 2022-2023

  • University of Minnesota-Twin Cities (#60 tie)6

Highest First-Time CPA Exam Pass Rate with a Bachelor’s Degree

The National Association of State Boards of Accountancy (NASBA) releases a report including data on candidate performance on the Uniform CPA Exam.11 The following schools had the highest first-time CPA exam pass rates in Minnesota in 2019 (the most recent report available*) for candidates with a bachelor’s degree, with the overall pass rate for first-time test-takers in Minnesota being 60.9%.

  1. University of Minnesota-Crookston 75.0%
  2. University of Northwestern-St. Paul 71.4%
  3. University of Minnesota-Twin Cities 68.7%
  4. Concordia College 63.6%
  5. Southwest Minnesota State University 60.9%

*As NASBA makes significant changes to the CPA Exam as part of the CPA Evolution initiative, new candidate score reports by state are not anticipated until at least mid-2024.

Schools in Minnesota with Accounting Degrees

To give you an idea of the breadth and depth of accounting degrees offered in Minnesota, we have profiled select programs below. Be sure to visit the websites of programs of interest for more detailed information on courses, admissions requirements and deadlines, and faculty.

Undergraduate Accounting Programs

Gustavus Adolphus College

Students at Gustavus Adolphus College can earn a Bachelor of Science (BS) in Accounting. This undergraduate track prepares students to pursue further graduate study and provides the basic accounting and business knowledge for those seeking entry-level employment after graduation. The curriculum emphasizes industry fundamentals through required courses like Managerial Accounting, Cost Accounting, Federal Taxation, and Auditing, and students are also encouraged to search out real-world learning opportunities. Graduates will meet the educational requirements to sit for the CPA exam but will need to take additional coursework to qualify for licensure. A Finance concentration is available, which includes electives such as Business Finance; Investments; and International Trade and Finance. For those interested in completing the 150 credits required for CPA licensure during their undergraduate degree, the Gustavus Department of Business and Economics also offers a Public Accounting major. Students in this program can take advantage of the January term and for-credit internships in order to fulfill the 150-credit requirement within eight semesters of study.

University of Northwestern St. Paul

The University of Northwestern St. Paul (UNWSP) offers a 131-credit Bachelor of Science (BS) in Accounting. This undergraduate degree lays the foundation for students to work in many different industries, including small businesses, non-profits, and accounting firms. The curriculum focuses on accounting fundamentals and their application to the business world. The core accounting classes include Individual Income Taxation, Business Law, Auditing, and Cost Accounting. Students may select from the 10-credit Business Accounting or the 35-credit Analytics and Reporting Concentration to further specialize their degree. The Analytics and Reporting Concentration is designed for students to meet the educational requirements to sit for the CPA exam. Students in the BS in Accounting program can opt for the Bachelor to Accelerated Master’s, which allows students with a 3.0 GPA and at least 45 undergraduate credits to begin online courses for their Master of Business Administration (MBA) while working on their BS.

Graduate Accounting Programs

University of Minnesota Twin Cities

The University of Minnesota Twin Cities (UMTC) Carlson School of Management location offers a Master of Accountancy (MAcc) degree. This program can be completed on a full- or part-time basis and admission is open to those without an undergraduate accounting degree. The curriculum is designed around the technical and interpersonal skills needed to become a leader in the accounting industry. Students with an undergraduate accounting degree will complete 30 credits to graduate, which generally takes two full-time semesters. Those with an unrelated undergraduate degree will need to complete 44 credits, which takes between three and four semesters for full-time students. Core classes for both tracks include Auditing; Internal Control; Corporate Finance Analysis and Decisions; and International Financial Management. Students can choose from electives in accounting, finance, taxation, supply chain and operations management, and information systems. The Carlson School also offers a Master of Business Taxation (MBT) degree and a Doctor of Philosophy (PhD) in Business Administration with a Concentration in Accounting.

Online Accounting Programs

Saint Mary’s University of Minnesota

At Saint Mary’s University of Minnesota (SMUMN), students can earn an IACBE-accredited Master of Science in Accounting (MSA) entirely online. Students learn advanced financial knowledge and leadership skills, as well as management strategies. The 30-credit program can be completed in 20 months and consists of instructor-led courses that can be taken at any time as long as assignments are completed on schedule. The core curriculum, which includes classes such as Forensic Accounting and Fraud Analysis; Strategic Management Accounting; Taxation and Business Decisions; and Corporate Finance, can be completed in one year. SMUMN’s MSA prepares students to pursue CPA or Certified Management Accountant (CMA) licensure as well as management positions in public or private accounting firms, corporate or nonprofit organizations, or governmental departments.

St. Cloud State University

Students at St. Cloud State University (SCSU) can earn a Bachelor of Science (BS) in Accounting either on-campus or online. By taking courses such as Internal Audit; Financial Accounting and Analysis; Cost Accounting; and Fraud and Forensic Accounting, students learn how to make financial decisions through the framework of accounting. Classwork focuses on practical skills such as analyzing financial statements, managing assets and liabilities, and short and long-term strategic planning. This undergraduate degree prepares graduates to work in private industry, government, education, and not-for-profit organizations. Students also receive preparation to sit for a number of exams, including the CPA exam, Certified Management Accountant (CMA) exam, Certified Internal Auditor (CIA) exam, and Certified Information Systems Auditor (CISA) exam. SCSU students can take advantage of real-world learning opportunities through student accounting clubs and internships.

University of Minnesota Crookston

The University of Minnesota Crookston (UMC) campus offers an ACBSP-accredited Bachelor of Science (BS) in Accounting that can be completed entirely online or on-campus. The curriculum provides students with the theoretical and analytical knowledge necessary to work in public, private, or governmental accounting. Through classes such as Accounting Systems, Income Tax, and Managerial Finance, students learn the foundational and technical skills needed in the accounting industry. Graduates from this online or on-campus program have the foundation to pursue professional designations such as CPA, Certified Management Accountant (CMA), or Certified Internal Auditor (CIA), and work in such fields as financial analysis, public accounting, management accounting, banking, or taxation. UMC has also created four three-credit CPA review courses with Gleim CPA Review. These for-credit courses are available for students who have already completed their undergraduate degree in Accounting and can be taken entirely online, providing 12 additional credits toward CPA licensure.

Minnesota CPA Requirements and Steps

The Minnesota Board of Accountancy (the Board) requires that CPA candidates hold at least a bachelor’s degree in accounting and 150 semester hours of collegiate education. There are six main steps to complete in order to earn a CPA license in Minnesota.

  1. Complete 150 semester hours of college-level coursework in accounting.
  2. Accumulate the required hours of experience.
  3. Complete the AICPA ethics course and exam.
  4. Pass the Uniform CPA Examination.
  5. Apply for a license.
  6. Receive a license.

1. Complete 150 semester hours of college-level coursework in accounting.

The Board follows the 150-hour rule, meaning that candidates for CPA licensure in the state must complete 150 semester hours (225 quarter hours) of college education. The 150 hours must include a concentration in accounting and the award of a bachelor’s degree or higher. To qualify as a concentration in accounting, the hours must include 24 semester hours of upper-division courses in accounting topics including financial accounting, auditing, taxation, and management accounting. Candidates must also complete 24 semester hours of upper-level business coursework unless they have a graduate degree in business from an accredited program, in which case 15 semester hours of graduate-level accounting coursework will satisfy the requirement.

2. Accumulate the required hours of experience.

Minnesota CPA candidates must earn at least one year or 2,000 hours of professional experience in accounting utilizing skills in accounting, attest, compilation, management advisory, financial advisory, tax, or consulting. Qualifying experience may take place through employment in industry, government, public practice, or academia. The experience may be full-time or part-time and must be accumulated over at least one year and not more than three years. The qualifying hours and skills used must be verified by a currently licensed CPA.

3. Complete the AICPA ethics course and exam.

The American Institute of Certified Public Accountants (AICPA) Professional Ethics Comprehensive Course for Licensure self-study ethics course and exam must be passed with a score of 90% or higher for a candidate to be eligible for a Minnesota CPA license. The course materials can be ordered directly through the AICPA website.

4. Pass the Uniform CPA Examination.

The Board uses NASBA to administer the AICPA Uniform CPA Exam, which is a licensure requirement in all 50 states. Candidates may sit for the exam once they have completed a bachelor’s degree with 24 semester hours of accounting coursework. Applicants may begin the process through the NASBA website. Applicants may take the exam up to 90 days before the expected completion of the educational requirement. Candidates who have not completed the education requirement must submit a Certificate of Enrollment (COE) with their exam application to verify the scheduled completion of the necessary degree and coursework. All four sections of the exam must be passed with a score of 75 or higher within a rolling 18-month period. Credit for the exam will only be granted if the education is finished within 120 days of beginning the exam and the Board receives documentation verifying completion.

5. Apply for a license.

Candidates who have completed the above requirements may submit an application to the Board, along with all necessary documentation and fees. The CPA Certificate Application for initial licensure is available online through the Board’s website. Candidates must receive notification of a successful passing score on all sections of the Uniform CPA Exam from the Board before submitting the application.

6. Receive a license.

Once the Board has reviewed and approved the application, a license will be issued. Applicants may track their progress on the Board’s website.

CPA License Renewal and Continuing Education Information

Minnesota CPA licenses must be renewed every three years. During that time, CPAs must complete 120 hours of continuing professional education (CPE), including at least 60 hours of technical education and eight hours of ethics education. CPAs must accumulate at least 20 hours of CPE for every fiscal year starting July 1 through June 30 of the following year. CPAs are required to maintain CPE records for five years. You can find additional information on the Board’s website.

Career Opportunities for Accounting Graduates in Minnesota

Those with accounting degrees in Minnesota may find many opportunities to work in the state after graduation. Large accounting firms headquartered in Minnesota include CLA (CliftonLarsonAllen), Olsen Thielen & Co, and SDK (Schechter Dokken Kanter). For those interested in smaller firm environments, Minnesota is home to smaller local firms such as Smith Schafer. The state of Minnesota hosts the headquarters of several large national corporations such as the Target Corporation, Best Buy, General Mills, and 3M, all of which employ large numbers of financial and accounting staff. Graduates may also find positions with numerous existing small firms or start their own within the Twin Cities area or other areas of the state.

Minnesota Accounting Salary and Jobs by Metro Area

Metro AreaAccountants & Auditors Employed12Average Annual Salary12
Duluth MN-WI930$75,680
Grand Forks ND-MN390$70,220
Minneapolis-St. Paul-Bloomington MN-WI21,520$86,550
St. Cloud910$78,830
Rochester590$81,120

Additional Resources

Top Accounting Firms for Graduates in Minnesota

  • Cummings, Keegan & Co., PLLP: With a full range of accounting, tax, and business management services and offices in St. Louis Park and Apple Valley, this smaller firm serves clients across a variety of industries.
  • Walker, Giroux & Hahne, LLC: A locally-owned accounting firm in northeastern Minnesota that participates in AICPA’s Peer Review Program, offering accounting, payroll, consulting, and tax services.
  • Boyum & Barenscheer PLLP: A local accounting firm with offices in the Twin Cities and White Bear Lake, Boyum and Barenscheer offer a full range of accounting and financial services.

Minnesota Accounting Associations

References:
1. National Center for Education Statistics: https://nces.ed.gov/collegenavigator/
2. College Factual Best Accounting Schools 2023: https://www.collegefactual.com/majors/business-management-marketing-sales/accounting/rankings/top-ranked/
3. The Princeton Review. The Best 382 Colleges 2023 Edition. Penguin Random House, 2022.
4. US News & World Report’s Best MBA Accounting Programs: https://www.usnews.com/best-graduate-schools/top-business-schools/accounting-rankings
5. US News & World Report’s Best Online Bachelor’s in Business Programs 2023: https://www.usnews.com/education/online-education/bachelors/online-bachelors-business-rankings
6. US News & World Report’s Best Undergraduate Accounting Programs: https://www.usnews.com/best-colleges/rankings/business-accounting
7. Association to Advance College Schools of Business, Accredited Universities and Schools, Business & Accounting: https://www.aacsb.edu/accredited
8. Accreditation Council for Business Schools and Programs, Accredited Schools, Separate Accounting: https://acbspsearch.org/
9. International Accreditation Council for Business Education, Members: https://iacbe.org/accreditation/member-status-information/
10. Department of Education College Scorecard: https://collegescorecard.ed.gov/data/
11. The NASBA Candidate Performance Report, 2019 University Edition: https://nasbareport.com/
12. Bureau of Labor Statistics, Occupational Employment Statistics, May 2022 State Occupational Employment and Wage Estimates, Minnesota: https://www.bls.gov/oes/current/oes_mn.htm
13. Minnesota Board of Accountancy: https://boa.state.mn.us/