International Accounting and Finance

2017 Entry

Overview
Course content
Teaching staff
Accreditations
Entry requirements
Tuition fees and term dates
Career opportunities

Overview

Intake: September only
Duration: 12 months full-time
Fees: £27,000
Financial support: Please see our Scholarships page
Application deadline: None - rolling admissions

The Cass in MSc International Accounting & Finance offers an expertly structured course, giving you the real world accounting and finance expertise that leads to a wide range of rewarding international roles. And because Cass is located close to the City of London, you will be perfectly placed to exploit the opportunities created by the degree.

This is a highly practical course. You will need a high level of quantitative skills in order to examine accounting and finance from the perspective of those who use financial reports to evaluate company and managerial performance. You will also gain an essential understanding of the principles underlying current thinking in accounting and finance.

The course is a Chartered Financial Analyst Institute (CFA) Partner Programme. There are exemptions from some exams of the Chartered Institute of Management Accountants (CIMA) and the Association of Chartered Certified Accountants (ACCA). Please see the Accreditations tab for more information on how you can benefit from these partnerships.

View our guide to finance MSc courses at Cass

Finance courses

'The MSc in International Accounting & Finance helped me to achieve my career objectives because I learnt to adapt myself to different situations quickly, and in my field it is important as you are moving from one client to another every two to three weeks. In addition, my Masters degree helped me to sharpen my critical and problem solving skills which are essential in the environment I am working in.'
David Khau, from France, MSc in International Accounting & Finance

Individual Appointments

If you would like to arrange an individual appointment to discuss this course please email Eva Matiaskova

Course content

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

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)

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.

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 1

Four core modules

Applied Empirical Accounting

15 credits
3 hours per week in lectures
12 hours per week self directed study

This course consists of two parts. The first is dedicated to essential concepts in statistics and econometrics. The second part presents students with seminal papers in accounting and finance that will be discussed in class. This will also provide a starting point for future dissertations. This course ensures that students:

understand basic concepts in statistics and econometrics
understand research papers in accounting and finance discussed in the course from a conceptual standpoint
understand statistical distributions and hypothesis testing

Finance 1: Corporate Finance and Valuation

15 credits
3 hours per week in lectures
12 hours per week self directed study

Provides a thorough understanding of the key factors affecting the valuation of a company; the financing of new ventures through initial and seasoned equity offerings; the choice between various forms of short- and long-term financing; and the interaction between corporates and capital markets. Makes extensive use of real case studies to illustrate theory and compare with relevant academic research.

Financial Reporting

15 credits
3 hours per week in lectures
12 hours per week self directed study

Provides an understanding of the nature of, and assumptions implicit in, the preparation of financial statements and their interpretation. More specifically, enables students to appreciate the methods, rules and assumptions underlying the preparation of published financial statements and to appraise the role of financial accounting data in the measurement of management performance through time and across companies. Based on International GAAP.

Strategic Cost Management

15 credits
3 hours per week in lectures
12 hours per week self directed study

Provides an understanding how accounting is used to support decision-making, planning, control and performance measurement within organisations. After covering key management accounting tools such as costing and budgeting, students will progress to study management control within divisionalised companies as well as developing practices such as activity-based costing and strategic management accounting.

Term 2

Four core modules

Accounting Information and Capital Markets

15 credits
3 hours per week in lectures
12 hours per week self directed study

The aim of this course is to develop an understanding of the use of financial statements in valuing securities in international markets. The course provides tools for financial analysts, corporate managers and investment bankers to assess the fundamental value of traded securities in different markets. The course puts significant emphasis on the interactions between global capital markets and the value of the underlying real assets.

International Financial Management

15 credits
3 hours per week in lectures
12 hours per week self directed study

This course provides the student with an integrated view of international financial markets and the management of multinational firms. Students will study the markets for foreign exchange, currency forwards, options, swaps and international equities, studying how they operate and how the instruments traded in these markets are valued.

Finance 2: Advanced Corporate Finance

15 credits
3 hours per week in lectures
12 hours per week self directed study

The market value of a firm depends on the effective utilisation of current and future assets, the funding of such assets and its interaction with capital markets. This module provides an in depth analysis of the theory and international practice of capital structure and dividend policies, mergers and acquisitions and short-term financing issues. The aim of this module is to develop an understanding of modern corporate finance so that the corporate manager, the treasurer, the investment banker, the financial analyst and the accountant will have the conceptual foundations for making intelligent assessments of key financial decisions. The course puts significant emphasis on the interactions between international capital markets and the value of the underlying real assets.

Financial Statement Analysis

15 credits
3 hours per week in lectures
12 hours per week self directed study

Accounting is the lingua franca of the financial world and impacts all aspects of the financial services industry, including corporate finance, asset management and investment banking. The Financial Statement Analysis module will provide a secure grounding in the potential value-relevance of accounting, and in the role of accounting for financial analysis and valuation. The aim of this module is to provide students with an understanding of the characteristics and limitations of accounting data and the role of accounting in the broader financial environment.

Research Methods Module

10 credits
3 x 3 hour lectures over the ten week term
52 hours self directed study over the ten week term

This compulsory module, run over terms 1 and 2, trains students to undertake independent research either in the context of a single organisation or by using third-party sources. It provides the necessary tools and skills to initiate, research and write up a business project and includes training in research methodology, availability of data sources, project writing, time-management and presentation skills. These skills will be invaluable to students in their future career whether or not they choose to complete a project.

Term 3

A Business Research Project (40 credits) and one elective (10 credits)

An Applied Research Project (20 credits) and three electives (10 credits each)

Five electives (10 credits each)

Electives

You may choose from a wide variety of electives, each worth ten credits.

Electives that were offered in 2016 were:

Banking Strategy
Investment Banking in Corporate Finance
Energy Project Investment & Finance
Corporate Restructuring
Introduction to Banking
Ethics, Society and the Finance Sector
Mergers and Acquisitions
Corporate Governance

International Electives

There are no additional tuition fees for international electives, with the exception of the Buenos Aires elective for which students are required to contribute £320 towards translators and in country transportation. Students are responsible for their own travel and accommodation costs for all international electives.

More details of programme specification are available here.

The Institute of Chartered Accountants 'International Financial Reporting Standards (IFRS) Certificate'

Students have the option of studying this specialist module (worth the equivalent of three electives) which provides a unique addition to the MSc in International Accounting and Finance. During the half day sessions students will be given the opportunity to learn about international trade standards and financial regulation. They will also develop a sound understanding of financial information produced under the IFRS. On successful completion of this programme, students will be awarded the ICAEW certificate in IFRS.

Business Research Project

The optional Business Research Project will be of approximately 8,000 words. This offers an opportunity to specialise in a contemporary finance topic related to students' future careers. The Project should be based on independent research either in the context of a single organisation or using third-party sources.

Students are encouraged from the start of the course to think about a topic for their Project. A member of academic staff supervises the project, and the student may choose whom they would like to work with. The Project must be submitted by the end of August. Company sponsored projects are encouraged and a number of such projects may be available.

Many students use this opportunity to complete a project in conjunction with an organisation they might want to work for. This gets their foot in the door and can lead to permanent employment post programme, whilst earning course credit. Cass Careers Service works to coordinate projects with organisations and students.

Some recent projects:

Deciphering the behaviour of private equity funds
Cost of equity capital and accounting based earnings attributes - observations of UK evidence
A Review of Underpricing and Short-Run IPO Performance in 2005: Evidence from the London Stock Exchange and Hong Kong Stock Exchange
M&A and Post-M&A Performance in UK Food Industry: Three Case Studies
Enron: A lesson in Corporate Governance
Announcement Effects of Corporate Debt Offerings, the Impact of Credit Rating and Issuer Fundamentals
The developments in corporate governance & its relation to the independence of the external audit profession
An Analysis of the Dynamics in the return and volatility of the European Equity & bond market
European Spin-Offs: The Evidence
Capital Structure Theory and Practice in China
The effect of R & D expense on capital markets in the pharmaceutical industry - A comprehensive study of India and The UK
Evidence of the UK stock market's reaction to dividend announcements
How do financial regulations affect financial crime in different countries

If you are a Tier 4 student visa holder and wish to follow an electives route in the third term your formal course end-date will be moved forward to 31 July 2017. City, University of London has a legal obligation to report the change in your circumstances to UKVI (the UK Visas and Immigration section of the Home Office). Consequently, your Tier 4 student visa is liable to be curtailed (shortened) by the Home Office to 60 days after the date the Home Office takes action against the report the University has made. This means that your Tier 4 visa will expire earlier than the end of January 2018. The University cannot continue to sponsor your Tier 4 visa after the completion of the electives as continued engagement with the course is no longer required. If you choose the elective route we would strongly advise against travelling out of the UK once your course end-date has passed because if curtailment action is taken whilst you are out of the UK, your visa will ‘lapse’ immediately and you will not be able to re-enter the UK on that permission.

If you choose to undertake the dissertation or applied research project modules as part of your Masters course then there will be no change to your Tier 4 visa.

If you want further advice about the implications of taking the elective modules on your Tier 4 visa, please contact the University’s International Student Advice team at visaadvice@city.ac.uk

Teaching staff

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.

Course Director

Dr Arthur Kraft

Other Module Leaders include:

Accreditations

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.

CIMA

Students successfully completing the MSc in International Accounting & 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 Accountign & Finance graduates are also eligible for the CIMA Master's Gateway Route

ACCA

Students successfully completing the MSc in International Accounting & Finance will be awarded exemptions from the following modules:

F1: Accountant in Business
F2: Management Accounting
F3: Financial Accounting
F4: Corporate & Business Law

Entry requirements

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, if reports available
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.

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The entry requirements for the MSc International Accounting & Finance are as follows:

Degree Level

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.

References

Applicants will need to submit two references, one of which MUST be an academic reference.

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.

IELTS

The required IELTS level is an average of 7.0 with a minimum of 6.5 in the writing section and no less than 6.0 in any other section.

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.

CFA Investment Foundations Program

Covers the essentials of finance, ethics, and investment roles, providing a clear understanding of the global investment industry.
Highly recommended, particularly for students from a non finance background.

Highly recommended
A well-balanced score in the range of 600-800 will significantly strengthen your application

Work Experience

Work experience is not a requirement, but please provide details of relevant experience that might enhance your profile. This information will be included in your CV which is required with all applications.

Tuition fees and term dates

Tuition fees 2017/18

Application fee: Nil

Tuition fees: £27,000 Currency Converter

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 (to be paid at registration)
Second installment: Half fees (paid in January following start of course)

Term dates 2017/18

In-Person Registration (all students must attend): Commences 18 September 2017

Compulsory Induction: 18 - 29 September 2017

Term I
2 October 2017 - 8 December 2017
Term I exams
8 January 2018 - 19 January 2018

Term II
22 January 2018 - 30 March 2018
Term II exams
23 April 2018 - 4 May 2018

Term III
7 May 2018 - 29 June 2018
Term III exams
2 July 2018 - 13 July 2018

Resit period
Students who are required to resit an examination or invigilated test will do so in the period:
13 - 31 August 2018

Submission deadline for Business Research Project or Applied Research Project
1 September 2018

Official Course End Date
30 September 2018

Career opportunities

Graduates from the MSc in International Accounting & Finance move into a diverse range of careers in the financial sector, particularly roles as analysts in accounting firms, corporate finance, auditing, regulatory bodies and consultancies.

MSc in International Accounting & Finance employability

Our Graduate Destination Survey of the MSc in International Accounting & Finance class of 2014 shows that 63.5% of graduates are now either in work (55.8%) or not job seeking as they are in further study, military service etc. (7.7%)

Some examples of where graduates from the MSc in International Accounting & Finance class of 2014 are working are:

Pernod Ricard - Business Analyst
Deloitte - Junior Consultant
Gold Coin Capital Corporate - Accounting Associate

You can also view data from our Graduate Destination Survey (pdf) from 2015.

'After completing my Masters I will be joining the Investment Banking Division of a US Bank in London, as a first year analyst. What attracted me to this career path is how it encompasses a number of interesting aspects within finance, such as quantitative and financial research and modelling, the strategic understanding of large entities and developing an expertise in capital markets

My career ambitions are to work with large corporate clients in advising them on their most important strategic decisions. In 5 years, I hope to have worked on a number of large corporate finance transactions involving M&A, Restructuring, IPOs, Equity and Debt Recapitalisations.'
Nicolas Greilsamer from France/USA, MSc in International Accounting & Finance

Cass Careers Service

Overview

View our guide to finance MSc courses at Cass

Individual Appointments

Course content

Term 1

Applied Empirical Accounting

Finance 1: Corporate Finance and Valuation

Financial Reporting

Strategic Cost Management

Term 2

Accounting Information and Capital Markets

International Financial Management

Finance 2: Advanced Corporate Finance

Financial Statement Analysis

Research Methods Module

Term 3

Electives

International Electives

The Institute of Chartered Accountants 'International Financial Reporting Standards (IFRS) Certificate'

Business Research Project

Teaching staff

Course Director

Other Module Leaders include:

Accreditations

CFA programme partner

CIMA

ACCA

Entry requirements

Documents required for decision-making

Documents which may follow at a later date

Degree Level

References

English Requirements

IELTS

CFA Investment Foundations Program

GMAT

Work Experience

Tuition fees and term dates

Tuition fees 2017/18

Term dates 2017/18

Career opportunities

MSc in International Accounting & Finance employability

Related information

Questions?