Basma Akbar came to Cass Business School from Kuwait to study on the MSc in Banking and International Finance. In this video she tells us why she loved studying in London and learning from renowned professors.
Overview
Who is it for?
If you are an ambitious, curious and hard-working graduate, driven to excel and succeed in the area of finance or accounting, this is the right course for you. This is a highly practical course so you’ll need to possess sound quantitative skills. This is a course for graduates that are keen to acquire both the leading techniques in finance and analytical understanding of accounting in measuring economic activities in a business.
You will be able to tailor your course with elective modules to pursue selected fields in depth and address your individual career choice. You can choose modules that will enable you to focus at greater depth on finance, or that will provide you with knowledge you will need to prepare for professional accounting qualifications.
"Along with the formal accounting and finance knowledge, the International Accounting and Finance course will give you insights into industry trends and current changes. As part of the curricula, you can study towards the IFRS Certificate which will enhance your career prospects and expertise. Cass offers many opportunities beyond the course from events and conferences to clubs and societies and careers advice."
Objectives
This is a one-year, full-time, expertly structured programme that will provide you with the real world finance and accounting expertise that leads to a wide range of rewarding international roles.
The emphasis of the course is to enable you to critically assess the implications of financial figures for a multitude of finance related topics. During the course you will develop a deep understanding of the use of finance and accounting tools in the context of global capital markets.
The course is designed to equip you with skills for using both finance theory and analysis together with accounting numbers in investment decisions and corporate assessment. For example, you will learn how to think in financial terms and develop the methods that will help you weigh financial risks when valuing underlying real assets, evaluating a strategy, and drawing conclusion about the business using financial figures, you will acquire analytical skills for making informed assessments on key financial decision, you will develop deep understanding of the fundamental issues behind international capital flows, their accounting treatment and bearings on business decisions.
This is a demanding and highly rewarding course and after leaving it you will be well-prepared for a broad range of financial careers. MSc IAF graduates find careers in investment and corporate banks, accountancy and audit firms, ratings firms, private equity, financial data providers, venture capital, and finance departments in major corporations.
Structure
What will I learn
- Acquire a comprehensive grasp of the principles and applications of finance and accounting
- Develop your range of technical and conceptual skills
- Gain broad experience of quantitative techniques
- Develop your understanding of a wide range of financial issues across all industry sectors
- Network with your peers and senior accounting and finance industry professionals in the City of London
- Gain a highly valuable international, multicultural perspective
- Acquire a flexible qualification suitable for a wide range of roles in accounting and global finance.
Term 1
Core modules:
Applied Empirical Accounting
Econometrics is essential for the empirical analysis of financial markets as well as the development of quantitative strategies for forecasting, pricing and risk management in financial markets. This course introduces you to the key tools and methods in econometrics and applies those tools.
Finance 1: Corporate Finance and Valuation
The aim of this course is to introduce you to the field of corporate finance. This is achieved by familiarising you with the core theoretical principles, and equipping you with the basic and most commonly used practical finance tools. The material covered in this course is crucial for professional work in the area of corporate finance as well as for further study of more advanced or specialised corporate finance-related courses. It is relevant for financial officers, economists, investment bankers, analysts and other decision makers.
Financial Reporting
The aim of the course is to provide you with an understanding of the principles and practices of accounting, the characteristics and limitations of accounting data. The course will make it possible for you to:
- Prepare and interpret financial statements
- Comment on accounting policies and to discuss its implication for the financial performance of the business
- Use accounting information to assess the financial situation of a company.
Research Methods for Finance Professionals
Strong research is a key element of development strategy for companies and institutions, large and small. This module aims to provide a grounding in financial research, particularly financial modelling and information gathering which you will be able to use to support your learning on the rest of your course.
Strategic Cost Management
The module examines strategic cost management in an international business environment. The module takes both a comparative and an MNC focus, as both are important in the current and future development of strategic cost management. However, the main emphasis is on key strategic cost management concepts relating to the management of international corporations.
Term 2
Core modules:
Accounting Information and Capital Markets
The module provides tools for accountants, financial analysts, corporate managers and investment bankers to assess the fundamental value of traded securities in global markets.
The aim of this course is to develop an understanding of the use of financial statements in valuing securities in international markets. The course puts significant emphasis on the interactions between capital markets and the value of the underlying real assets.
Finance 2: Advanced corporate Finance
Building on term one’s finance modules, this module provides an in-depth analysis of the theory and international practice of capital structure decisions, dividend and cash policy, valuation, and mergers and acquisitions.
Among the deviations from the classic Modigliani and Miller paradigm that make key financial decisions relevant, asymmetric information and agency problems between firms and investors are particularly emphasised. The focus on market imperfections allows you to examine the factors that may hinder or facilitate firms’ access to external finance. You will also be brought to appreciate how business valuation, capital structure decisions and corporate restructuring are affected by the role that shareholders, boards of directors and incumbent managers play in the governance of corporations.
Financial Statement Analysis
The ability to understand and analyse financial statement information is a key skill in a wide range of business activities, from managing a corporation to investing in securities. The overall aim of this module is to help students learn and practise a variety of financial statement analysis techniques which can support business decision-making processes.
International Financial Management
Business executives cannot ignore the international dimension in finance. A proper understanding of the fundamental issues behind international trade, international capital flows, the rise to prominence of the multinational corporation, and international debt (including balance of payments debt) has important bearings on business decisions.
To allow you to get a solid grasp of the following topics: international trade and the multinational corporation, the global FX and derivatives markets, FX exposure and its accounting treatment, use of derivatives and cash market hedges to mitigate FX exposure, international loans and bond issues, and swap-driven financing.
Term 3
You may choose from the five options in your final term.
- Option 1: Students can take five specialist elective modules (5 x 10 credits)
- Option 2: Students can opt to write a 10,000-word Business Research Project (40 credits) and take one specialist elective module (1 x 10 credits)
- Option 3: Students can opt to write a 3,000-5,000 word Applied Research Project (20 credits) and take three specialist elective modules (3 x 10 credits)
- Option 4: Students can opt to take
International Financial Reporting Standards
(30 credits) and two specialist electives (2 x 10 credits)Provides an applied professional qualification that complements the academic program in International Accounting and Finance.
To provide you with the knowledge and skills to apply complex international financial reporting standards in companies
- Option 5: Students can opt to take
International Financial Reporting Standards
(30 credits) and write 3,000-5,000 word Applied Research Project (20 credits).Provides an applied professional qualification that complements the academic program in International Accounting and Finance.
To provide you with the knowledge and skills to apply complex international financial reporting standards in companies
Projects
Business Research Project
It is important for aspiring professionals to demonstrate, on an individual basis, their ability to apply concepts and techniques they have learned in an in-depth study of a topic of their choice and to organise their findings in a report, all conducted within a given time limit.
To train you to undertake individual research and provide you with an opportunity to specialise in a contemporary business or finance topic related to your future career aspirations.
You are required to submit a project of approximately 10,000 words on any subject area covered in the rest of the programme. Typical projects can involve any of the following: extracting data from electronic databases or by hand; statistical analysis of large or small populations; interviews; case studies of an industry or a sector or of a business / finance issue in a particular country setting.
Applied Research Project
The aim of this module is to enable you to demonstrate how to integrate your learning in core and elective modules and then apply this to the formulation and completion of an applied research project. You will be required to demonstrate the skills and knowledge that you have acquired throughout your MSc study.
You will undertake a short piece of applied research on a question of academic and/or practical relevance. Guidelines will be provided in order to help you identify the research question. Based on your chosen topic, you must write a report of around 3,000–5,000 words that summarises and critically evaluates your method and your findings.
Electives offered in 2018
- Banking Strategy
- Corporate Restructuring
- Financial Statement Analysis & Valuation in Banks
- Foreign Exchange
- Hedge Funds
- Mergers & Acquisitions
- Visual Basic in Finance
- Ethics, Society and the Finance Sector
- International Financial Reporting Standards – Super elective, earns students certification from ICAEW
International electives
- Global Real Estate Markets Dubai (taught in Dubai, UAE)
- Investment Strategy (taught in New York, USA)
- Project Finance and Infrastructure Investment (taught in Madrid, Spain)
See the MSc in International Accounting and Finance programme specification.
Assessment methods
Assessment
We review all our courses regularly to keep them up-to-date on issues of both theory and practice.
To satisfy the requirements of the degree course students must complete:
- eight core courses (15 credits each)
and either
- five electives (10 credits each)
- three electives (10 credits each) and an Applied Research Project (20 credits)
- one elective (10 credits) and a Business Research Project (40 credits)
- one super elective on IFRS (30 credits) and two electives (10 credits each)
- one super elective on IFRS (30 credits) and an Applied Research Project (20 credits)
Assessment of modules on the MSc in International Accounting & Finance, in most cases, is by means of coursework and unseen examination. Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work may include an element of peer assessment.
Induction Weeks
The MSc in International Accounting & Finance course starts with two compulsory induction weeks, focused on:
- an introduction to careers in finance and the opportunity to speak to representatives from over 75 companies during a number of different industry specific fairs.
- a refresher course of basic financial mathematics, statistics, computing and electronic databases.
Term dates
Term dates 2018/19
In-Person ID Checks (all students must attend): Commences 17 September 2018
Compulsory Induction: 17 - 28 September 2018
Term I
1 October 2018 - 14 December 2018
Term I exams
7 January 2019 - 18 January 2019
Term II
21 January 2019 - 5 April 2019
Term II exams
22 April 2019 - 3 May 2019
Term III
5 May 2019 - 2 July 2019
Term III exams
1 July 2019 - 12 July 2019
Resit period
Students who are required to resit an examination or invigilated test will do so in the period:
12 - 30 August 2019
Submission deadline for Business Research Project or Applied Research Project
2 September 2019
Official Course End Date
30 September 2019
Teaching staff
Course Director
The teaching staff on the MSc in International Accounting & Finance have many years of practical experience working in the financial services sector and are also active researchers in their fields
This knowledge and experience inform the highly interactive lectures that make up the MSc in International Accounting & Finance.
Module Leaders include:
Application
How to apply
Documents required for decision-making
- Transcript/interim transcript
- Current module list if still studying
- CV
- Personal statement (500-600 words)
Documents which may follow at a later date
- IELTS/GMAT result
- Confirmation of professional qualification examinations/exemptions/passes, if applicable
- Two references
- Work experience is not a requirement of this course
- For a successful application to receive an unconditional status all documents must be verified, so an original or certified copy of the degree transcript must be sent by post to Specialist Masters Programme Office, 106 Bunhill Row, London, EC1Y 8TZ, UK
We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.
Individual Appointments
If you would like to visit us to discuss your application please do arrange an individual appointment.
Entry requirements
A UK upper second class degree or above, or the equivalent from an overseas institution.
Some level of previous study or evidence of skills in finance or quantitative methods is essential.
GMAT
Highly recommended
A well-balanced score in the range of 600-800 will significantly strengthen your application
English language requirements
If you have been studying in the UK for the last three years it is unlikely that you will have to take the test.
If you have studied a 2+2 degree with just two years in the UK you will be required to provide IELTS results and possibly to resit the tests to meet our requirements.
Please note that due to changes in the UKVI's list of SELTs we are no longer able to accept TOEFL as evidence of English language for students who require a CAS as of April 2014.
Fees
Fees in each subsequent year of study (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee to you in writing prior to you commencing each subsequent year of study (where applicable).
Deposit: £2,000 (paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)
First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the in-person ID–checks)
Second installment: Half fees (paid in January following start of course)
Career pathways
As Cass is located close to the City of London, you will be perfectly placed to exploit the opportunities created by the degree. Our dedicated careers team will work with you to identify and achieve your career goals by providing you one-to-one support, as well as regular skills workshops and employer and alumni networking opportunities.
Our graduates embark on fulfilling careers in finance and accounting across the finance, professional services, and corporate world at companies including Ernst & Young, Pricewaterhouse Coopers, and KPMG.
You can also view data from our Graduate Destination Survey (pdf) from 2015.
"Although my studies were focused on Accounting & Finance related modules, in the third semester I had the opportunity to take different modules that enabled me to confidently choose my career path."
Course information and statistics
Accreditation
Successfully obtaining the MSc in International Accounting and Finance allows exemption from the exams of several following professional bodies.
See accreditation details
CIMA
Students successfully completing the MSc in International Accounting and Finance will be awarded exemptions from the following modules:
- C02: Fundamentals of Financial Accounting
- C03: Fundamentals of Business Mathematics
- F2: Advanced Financial Reporting
- F3: Financial Strategy
MSc in International Accounting and Finance graduates are also eligible for the CIMA Master's Gateway Route
ACCA
Students successfully completing the MSc in International Accounting and Finance will be awarded exemptions from the following modules:
- F1: Accountant in Business
- F2: Management Accounting
- F3: Financial Accounting
- F4: Corporate & Business Law
CFA programme partner
The CFA Institute, the global association of investment professionals, recognises the rigour and the relevance of the MSc International Accounting and Finance and has awarded this course partner status. CFA Programme Partner status is awarded to a select number of universities around the world whose degree courses incorporate at least 70% of the CFA Program Candidate Body of Knowledge. The CFA Program is the essential qualification for those wishing to pursue a career in the finance sector and the CFA Institute recognises the MSc in International Accounting and Finance as strong preparation for their professional exams.
Cass students on CFA partner courses have the option of taking some additional preparatory classes for the CFA exams. They also have access to CFA study materials (including an online Level 1 sample exam) and complimentary access to Financial Newsbrief, a daily investment brief by the CFA. In addition, there is the opportunity to take part in the CFA Global Investment Research Challenge.
Each year 5 CFA scholarships are available to Cass students, offering financial assistance with the CFA exam registration fees.
ICAEW
MSc International Accounting and Finance is a programme partner with the Institute of Chartered Accountants of England and Wales (ICAEW). Students successfully completing the MSc in International Accounting and Finance will be awarded credits for prior learning (exemptions) in the following subjects for the ICAEW chartered accountancy qualification, the ACA :
- Accounting
- Financial Management
