International Accounting and Finance

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.

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
  • Swap-driven financing.

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

  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

  (30 credits) and two specialist electives (2 x 10 credits)
• Option 5: Students can opt to take

  International Financial Reporting Standards

  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

  (30 credits) and write 3,000-5,000 word Applied Research Project (20 credits).

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 2019

• Advanced Company Valuation
• Fintech – Financial Services in Digital Age
• Introduction to Python
• Investment Banking in Corporate Finance
• Private Equity Investment.

Interntional 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.