Data, Analytics and Technology in the Tax Function

    CHICAGO, IL, September 29, 2021 /24-7PressRelease/ -- The Featured Cover Story in New Accountant showcases a brand new Master program out of Villanova University: The Master of Business Taxation with Data Analytics Program (MBT). "Data, Analytics and Technology in the Tax Function" is written by Michael F. Peters, PhD, Chair, Accounting & Information Systems and the Alvin A. Clay Professor of Accounting, Villanova School of Business.

"First, the integration of data and analytics into accounting is one of the main reasons we created the MAC Program (Master of Accounting with Data Analytics) at Villanova School of Business," said Peters. "Building on the success of our MAC program, we created a new Master of Business Taxation with Data Analytics Program (MBT) to prepare students for the expanding and higher-level expectations of today's tax professionals."

There have been many changes and advancements in data, analytics and technology that have spurred the need for this type of program. The skill sets that are included and learned in the MBT program are:

• Quantitative Approach – the large increase in the volume of available data and the technology utilized to gather and interpret it has changed for tax accountants. "The MBT program integrates quantitative applications of data, analytics and technology with advanced levels of taxation," says Peters.

• Tax Modeling – learning to use technology to evaluate the tax effects of multiple scenarios such as changes to a global legal entity structure or the impact of potential tax legislation. "In learning how to use modeling tools to enhance and streamline operations and decision-making for an organization," says Peters, "our MBT students bring a unique expertise and add immediate value for their clients and employees."

• Use of Robotics and A.I. – machine learning, robotic process automation (RPA) and artificial intelligence (AI) are revolutionizing tax function. "Through our MBT program," Peters says, "students learn how to use data, analytics and technology to increase the efficiency of the tax compliance and reporting process and to provide opportunities for value-added tax savings strategies."

• Digital Solutions – technology solutions such as collecting, cleansing and analyzing data are becoming more integrated into the tax function, there is an increased demand for employees who know ERP systems (enterprise resource planning). "Our students learn how to apply multiple software tools to manage data, perform test analyses on the tax consequences of various tax planning options and report the findings in a coherent and understandable manner using graphs, dashboards and other advanced data visualization applications," says Peters. "We provide opportunities to learn quantitative skills that are foundational to becoming successful tax professionals."

Summing up the advantages of this unique Master program offered by Villanova Business School, Michael F. Peters says it best. "Our MBT curriculum integrates data, analytics, technology and modeling with in-depth graduate level tax topics such as strategic taxation; business operations and tax planning; corporate and partnership taxation; international, state and local taxation; and tax research policy and ethics."

Furthermore, students of the program can apply their knowledge through experiential learning opportunities and tax season internships. As technology continues to evolve, students like the ones in this advantageous MBT Program who become versatile and multiskilled are best positioned for success in an ever-changing world.

About Villanova School of Business:
The VSB undergraduate program is top ranked among business schools in the nation. Its online business graduate programs are ranked #5 and its online MB program is ranked #17 by U.S. News and World Report. It was founded in 1922 and serves over 2,700 undergraduate and graduate students

About New Accountant Magazine:
Published since 1985, New Accountant is a professional print and digital publication edited for college accounting students and accounting professionals to prepare for a career in accounting, auditing and industry. For more information, please visit NewAccountantUSA.com; email [email protected]

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