If [itex]M(x,y) dx + N(x,y) dy[/itex] is exact, that means it equals [itex]dF[/itex] for some function [itex]F(x,y)[/itex]. But the chain rule says that [itex]dF=\frac{\partial F}{\partial x}dx+ \frac{\partial F}{\partial y}dy[/itex], which implies that [itex]M(x,y) = \frac{\partial F}{\partial x}[/itex] and [itex]N(x,y) = \frac{\partial F}{\partial y}[/itex]. Now Clairaut's theorem states that (for well-behaved functions) the mixed 2nd partial derivatives are equal, i.e. [itex]\frac{\partial^{2}F}{\partial x \partial y}=\frac{\partial^{2}F}{\partial y \partial x}[/itex], which in terms of M and N becomes [itex]\frac{\partial N}{\partial x}=\frac{\partial M}{\partial y}[/itex]. That's the condition for exact differentials.
I hope that helps.