Bruce Busta (Harv)


IE Business School

Visiting Professor of Accounting 

Maria de Molina, 13
28006 Madrid, Spain

St. Cloud State University

Emeritus Professor of Accounting 

Accounting Department 

G.R. Herberger College of Business

St. Cloud State University

720 4th Avenue South

St. Cloud, Minnesota 56304 USA 

*Inactive License

** Retired Licence



  • The Management and Investment Principles of Warren Buffett and Berkshire Hathaway

  • Global Executive MBA - Financial Accounting

  • International MBA - Financial Accounting

  • Global MBA - Financial Accounting

  • Executive International MBA - Financial Accounting

  • Executive MBA - Financial Accounting

  • MBA - Managerial Accounting

  • Accounting Information Systems I

  • Accounting Information Systems II - IS Audit and Control

  • Principles of Financial Accounting

  • Principles of Managerial Accounting

Visiting Professor of Accounting, IE Business School- 2003  -Present

Finance Forum Discussion Leader, Anderson Center - 2008 - 2014

Professor of Accounting,  St. Cloud State University  - 1988 - 2014

Visiting Professor of Business, St. Louis University-Madrid, 2002-2003

Visiting Lecturer, Huron University, (now Hult International Business School) London, England 1996 - 1997

Visiting Lecturer, Richmond College, London, England 1985 - 1986

Graduate Assistant, University of Nebraska - Lincoln, 1986 - 1988

Image by M. Monk
Touchscreen Computer

Research Areas

Sustainability Accounting, Non-Financial Reporting, CSR Reporting
GRI - Global Reporting Initiative
Integrated Reporting - IIRC
Case Development and Educational Instructional Research


Publications and Working Papers

  • Scott Eriksen and Bruce Busta, "Wrigley's Dual-Class Equity Strategy" Global Perspectives in Accounting Education. Vol. 8, pages 1-6, 2011.

  • Dave Ripka and Bruce Busta, "Jones Company: A Case on Corporate Governance, SOX and Audit Committee Protocol" Global Perspectives in Accounting Education. Vol. 6, pages 77-81, 2009.

  • Bruce Busta, D'Arcy Becker, Jane Saly, Richard Sathe, Kate Mooney, "Effective Campus Recruiting: The Faculty Perspective" The CPA Journal. Volume 77, Number 7, pages 62-65, July 2007.

  • Bruce Busta, Kris Portz, Joel Strong , and Roger Lewis, "Expert Consensus on the Top IT Controls for a Small Business" Information Systems and Control Journal. Volume 6, December 2006.

  • Joel Strong, Kris Portz and Bruce Busta, "First Look At The Accounting Information Systems Emphasis At One University:  An Exploratory Analysis" Review of Business Information Systems. Volume 10, Number 2, pages 29-40, Spring of 2006.

  • Bruce Busta. "Encryption: The Theory and Mechanics of How is it Used on the Internet. The CPA Journal, November 2002, pp. 42-48.

  • Kris Portz, Joel Strong, Bruce Busta and Ken Schneider. "Do Consumers Understand What WebTrust Means?." The CPA Journal, October 2000, pp. 2 - 6.

       For more information on Benford's Law see the Working Papers section

  • Alf Eastergard and Bruce Busta. "Pet Salvage Shop." Journal of Accounting Case Research, Summer 1994, Vol. 2, No. 2, pp. 61 - 64.

  • Bruce Busta and Paul Kimmel. "Exploring the Impact of Information on the Stock Market." Issues in Accounting Education Vol. 8, No. 2, Fall 1993: pp. 378 - 390.

  • Bruce Busta. "An Empirical Study to Investigate the Inequities Resulting from the Repeal of Income Averaging Under the Tax Reform Act of 1986." Advances in TaxationVol. 5, 1993: pp. 21-56.

  • Bruce Busta and Rodger L. Brannan. "Application of the Zero Defect Concept to the Auditing Process." The Woman CPA, Fall 1991, pp. 33 - 37.

Working Papers


Service To:


Presentation "Warren Buffett the Sage of Omaha"  Granite Equity Partners, St. Cloud, Minnesota.  April 2017

Presentation "Warren Buffett - Greatest Investor or Greatest Business Teacher?" São Paulo CFA Society, São Paulo, Brazil.  January 2015

Interviewed by Dinherio.  "10 Questions about the Warren Buffett as an Investor."  In Brazilian, 18 March 2015, page 46, São Paulo, Brazil.


Chairperson Herberger Business School MBA Curriculum Revision Task Force (2010-2012, 2013-2014)

Member of Herberger Business School MBA Advisory Board (2006 - 2012)

Member of G. R. Herberger Executive Advisory Board (2003 - 2009)

Accounting Department Chairperson (2003-2009)

Member of Departmental Promotion Tenure Committee (2009 - 2012)

Faculty Consultant - SCSU Center for Teaching Excellence (2003 - 2008)

Advisory Board - Honors Program (2003 - 2006)

Chapter Secretary Beta Gamma Sigma (2005 - 2006)


Treasurer, St. Cloud Nordic Ski Club (2016 - Present)

Board of Directors St. Cloud Nordic Ski Club (2011 - Present)

Treasurer/Secretary, Greystone Biathlon Team (2003 - 2009)


Honors and Awards

  • Finalist for Best Professor of Experienced Programs:  Global Executive MBA -   2018 IE Business School, Madrid, Spain

  • Finalist for Best Professor of Experienced Programs:  Global Executive MBA -   2015 IE Business School, Madrid, Spain

  • Finalist for Best Professor of Experienced Programs:  Global Executive MBA -   2013 IE Business School, Madrid, Spain

  • Best Professor of Blended Programs:  Global Executive MBA -   2012 IE Business School, Madrid, Spain

  • Best Instructor of Int'l Executive MBA - 2011 IE Business School, Madrid, Spain

  • Nominated for HCOB "Faculty of the Year," College of Business Executive Council (Student Organization),  April 2008.

  • Best Instructor of MBA Program - Int'l Executive MBA - 2007 Instituto de Empresa, Madrid, Spain

  • Best Instructor of MBA Program - Int'l Executive MBA - 2005 Instituto de Empresa, Madrid, Spain

  • Best Instructor of MBA Program - Int'l Executive MBA - 2004 Instituto de Empresa, Madrid, Spain

  • Nominated for "G.R. Herberger College of Business Distinguished Professor Award," St Cloud State University, December 2002.

  • "Outstanding Instructor" - Phi Kappa Phi - 1996, St. Cloud State University

  • "Educator of the Year" - INROADS - 1994, Minneapolis/St.Paul

  • "Best Accounting Teacher of the Year" - Accounting Club - 1991, St. Cloud State University



Awarded Certified Information SystemsAuditor (CISA) , 2000.  (Inactive licence).

Awarded Certified Public Accountant Certificate (CPA) , 1980.  (Inactive licence).

Ph.D. in Accountancy from the University of Nebraska - Lincoln, 1990.

Master of Business Administration (MBA) from St. Cloud State University, 1983.

Bachelor of Science in Accounting, Cum Laude, Honors in Liberal Studies, St. Cloud State University, 1979. (pictured below)


Business Experience

  • Staff accountant with the public accounting firm Larson, Allen, Weishair & Co. (now CliftonLarsonAllen), Minneapolis, Minnesota. Primary duties were in the areas of auditing and tax accounting. (1979-1981)

  • Assistant controller  - ADS, Cambridge, Minnesota (1983)

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