Within management and accounting education both conceptual and experiential learning have been important learning approaches. However, while experiential learning has been extensively studied in accounting education the critical role of conceptual learning has received considerably less attention. In this article we review theory and research to develop a framework that relates to both conceptual and experiential learning. We use a Throughput Model to suggest and demonstrate that both learning cycles can live alongside each other to support accounting education from both student and educator perspectives. Based on our review and combination we suggest implications for the design and implementation of management and accounting education. Copyright © 2016, Academy of Management