Semester 1
INTRODUCTION TO FINANCIAL ACCOUNTING
The course provides an introduction to financial accounting concepts. It describes the accounting system and accounting cycle, as well as, the use of accounting entries in order to recognize an economic event. Moreover, the course describes the preparation of financial statements and the qualitative characteristics of accounting information. Case studies will be used to support learning.
PRINCIPLES OF FINANCE
The course aims for students to develop an understanding of the basic principles of finance and the basic concepts needed to understand the financial managerโs decision-making process. In particular, students will learn the goal of the financial manager as well as the fundamentals of financial ratio analysis. In addition, they will explore how to allocate capital across time in order to create value. Case studies will be used to support learning.
PRINCIPLES OF MATHEMATICS
This module provides an introduction to basic mathematics relevant to students in accounting and finance. On completion of the module students will have competence in linear equations, simultaneous equations, nonlinear equations, differentiation, optimization, vectors and matrices. Case studies will be used to support learning.
PRINCIPLES OF MICROECONOMICS
This module provides students with an understanding of the principles and analytical methods of microeconomics to examine the behaviour of households and firms. It aims to provide the microeconomic theory necessary for intermediate and other economics and finance modules, as well as enable students to understand and apply economic theory to policy issues. Case studies will be used to support learning.
MANAGEMENT INFORMATION SYSTEMS
Management Information Systems is a formal discipline within business education that bridges the gap between computer science and well-known business disciplines such as finance, marketing, and management. This course exposes the student to current theories and practices appropriate for understanding the role and application of information systems for individuals, organizations, and society within a globally competitive context. The course focuses on information technology and its uses in improving work practices, products, and tools for individuals and organizations. In this course, students will learn about the components of management information systems and how to leverage them in business. Case studies will be used to support learning.
Semester 2
FINANCIAL ACCOUNTING I
This course provides the accounting treatment procedures regarding items of the Statements of Financial Position as well as, Income Statement. In this respect, it describes the initial recognition and subsequent accounting treatment of assets, liabilities and equity components. Moreover, it describes the accounting rules regarding the recognition of revenues, gains, expenses and losses. Case studies will be used to support learning.
FINANCIAL MANAGEMENT
Good financial decision making is key to the success of any business. This course aims to cover the basic building blocks of financial management that are of primary concern to corporate managers, and all the considerations needed to make financial decisions both inside and outside firms. Students will also get the opportunity to apply these concepts to contemporary business situations. The course will discuss a range of topics relevant to valuation of investments, the relationship between risk and return, the role of debt and equity as well as capital budgeting and project evaluation techniques. We will conclude with a brief introduction to international financial management. By the end of the course students will have a good understanding of factors and frameworks to consider in making good investment and financing decisions. Case studies will be used to support learning.
PRINCIPLES OF MACROECONOMICS
This module is designed to provide an introductory overview to macroeconomics. Among the topics covered are unemployment, inflation, long- and short-run macroeconomic models, fiscal policy, monetary policy and the role of central banks, exchange rate policy and government debt. The module involves the analysis of theoretical macroeconomic models and the examination of economic events. Case studies will be used to support learning.
STATISTICS
The module provides an introduction to the interpretation and analysis of data through the application of appropriate statistical methodologies. On completion of the module students will have an understanding of descriptive statistics, probability, random variables, discrete and continuous distributions, sampling, estimation and hypothesis testing. Case studies will be used to support learning.
PRINCIPLES OF FINANCIAL AND TAX LAW
It deals with the principles governing taxation and the basic principles of exercising the tax authority. It examines the legal rules and principles governing the budget stages and the role of the EU institutions in the final shaping of the macro-economic figures of the Member Statesโ annual state budget. Case studies will be used to support learning.
Semester 3
MANAGERIAL ACCOUNTING
The course provides an introduction to managerial accounting and costing methods. It describes the basic categories of costs and develops methods for the quantification of their behavior. Moreover, it also develops cost accounting concepts and methodologies in order to aid decision making in a firm. Case studies will be used to support learning.
INTERNATIONAL FINANCIAL REPORTING STANDARDS I
The aim of this course is to analyze the International Financial Reporting Standards (IFRS) and describe the accounting procedures needed in order to implement the IFRS. The course is based on both theoretical analysis of the International Accounting Standards and the International Financial Reporting Standards as well as practical applications that help the student understand and implement the IFRS. Case studies will be used to support learning.
ฮNTERNATIONAL FINANCIAL MARKETS, INSTITUTIONS AND MONEY
Due to the economic globalization and the modernization of financial assets, the in-depth understanding of financial markets’ functioning and interconnectedness has become increasingly complex. In this module the primary intent is to introduce students to the institutional environment in which financial transactions take place and discuss the underlying economic background. The module discusses the economic principles underpinning the international financial system covering topics related to the functioning of capital markets, financial intermediation, monetary economics, economics of regulation as well as economic crises. Case studies will be used to support learning.
QUANTITATIVE BUSINESS SKILLS
The purpose of the course is to provide students with the practical skills necessary to apply quantitative techniques to a given case. Emphasis will be placed on the implementation of quantitative skills, effective communication and presentation of results as well as the extraction of useful conclusions, while working in a team environment. Case studies will be used to support learning.
BUSINESS STRATEGY
This course aims to provide an understanding of the basic principles and practice of strategic management and marketing, both external to the organisation, and internal within the organisation. It is concerned with strategic decision-making in implementing strategy to secure the long-term success of the organisation. This course looks at the content and process of strategic decision making from the perspective of managers who are responsible for an entire business unit. Case studies will be used to support learning.
Semester 4
FINANCIAL ACCOUNTING II
The course provides an in-depth analysis of the accounting treatment of special items like impairment losses, provisions and deferred taxes. Moreover, it develops the key accounting practice for special forms of accounting relating to public sector accounting and shipping accounting as well as issues on disclosures including ESG disclosure. Case studies will be used to support learning.
FINANCIAL STATEMENT ANALYSIS
This module aims to develop a number of tools that can be used for the analysis of the financial statements and decision making. It describes the inner and outer economic environment of a firm and how it affects its main business decisions. Moreover, it provides a number of methodologies for the valuation of profit and non-for-profit entities. Case studies will be used to support learning.
CORPORATE FINANCE
The course develops the fundamental knowledge required for the evaluation of capital, the valuation of firms and their stocks, as well as issues related to the management of short-run financing. Fundamental concepts such as the weighted average cost of capital will be analysed in-depth to provide an accurate determination, while a range of capital investment types will be evaluated on the basis of their opportunity cost. The crucial issue of the ideal capital structure of the firm will be evaluated with a view to maximizing shareholdersโ wealth. Finally, the module considers fundamental principles of dividend policy. Case studies will be used to support learning.
PORTFOLIO MANAGEMENT
The course examines the theoretical basis and practical approach to the management of stocks and investment portfolios. The basic theoretical framework is standard portfolio theory and its extensions. The course objective is to equip students with practical skills for investment management. The course will rely heavily on Excel modeling using real world data. Students, apart from engaging with the theoretical foundations of portfolio theory, they will also develop a practical understanding of the investment process stages, involve the concept of market expectations, form a strategic asset allocation basis and select the optimal investment strategy. Case studies will be used to support learning.
INTRODUCTION TO ECONOMETRICS
The module provides an introduction to the interpretation and analysis of economic and financial data through the application of appropriate econometric methodologies. The content includes simple and multiple regression analysis, autocorrelation, multicollinearity, heteroscedasticity, model specification, and dummy variables. Appropriate methods will be discussed to test research hypotheses and evaluate the appropriateness of the models used. Case studies will be used to support learning.
Semester 5
INTERNATIONAL FINANCIAL REPORTING STANDARDS II
The course analyzes advanced topics of International Financial Reporting Standards (IFRS). In this respect, it describes the accounting procedures and develops the appropriate accounting treatment of special topics like deferred taxation. The course is based both on the analysis of the relevant International Accounting Standards and International Financial Reporting Standards as well as on case studies. Case studies will be used to support learning.
AUDITING AND INTERNAL CONTROL
This module aims to develop the basic principles of the auditing and assurance process in the context of professional regulatory and professional ethics frameworks. Moreover, the course analyzes, evaluates and concludes on the assurance engagement and other audit and assurance issues in the context of best practice, along with an introduction to internal audit procedures. Case studies will be used to support learning.
INTERNATIONAL FINANCE
This module provides an introduction both to the main forces shaping the international financial environment and to the techniques and strategies used by organisations to respond to this environment when making financial decisions. Among the issues covered are international trade, capital flows, exchange rate determination as well as international investment decisions. Case studies will be used to support learning.
INVESTMENTS
This course builds on investment theory with an emphasis on establishing appropriate investment objectives, measuring and managing investment risk and return. In this course, different strategies and decisions are discussed which maximize the return by alleviating the risks, if not eliminated. The course provides a practical, hands-on experience in investment management through a portfolio project. The course prepares future portfolio managers for selecting assets, managing risk and constructing optimal portfolios. Case studies will be used to support learning.
APPLIED ECONOMETRICS
This module builds on the material covered in Introduction to Econometrics and further broadens the knowledge of econometrics. The module provides students with the econometric skills needed to be able to successfully investigate economic and financial relationships by using appropriate econometric methodologies and software. The content covers special issues in linear and discrete choice models and introduces students to time series econometrics and econometrics of panel data. Financial applications will be used to apply knowledge such as the Capital Asset Pricing Model and its multi-factor extensions, herding, efficient market hypothesis, event studies, return spillovers, etc. Case studies will be used to support learning.
Semester 6
INTERNATIONAL STANDARDS ON AUDITING
This module describes the International Standards on Auditing (ISA) and their main provisions. The course also provides a number of practical application and examples to gain understanding on the implementation of the ISA, as well as, analysis on exercising professional judgement on the application of ISA. Case studies will be used to support learning.
TAXATION
This module aims to provide an analysis of tax accounting. It includes taxation of physical and legal entities along with special cases of taxation such as special contributions. Moreover, the course extends to social insurance contributions and topics relating to Value Added tax (VAT). Case studies will be used to support learning.
BUSINESS ETHICS AND ESG
This course introduces students to ethical reasoning as it applies to the complex world of businesses in a globalized world. Business ethics applies to both employee and employer conduct, conduct on behalf of a business and conduct within a business. We will use ethical framing and ethical theories to examine dilemmas that arise at different stages and phases of business conduct. Topics to be covered likely include: why be ethical?; standards of ethics; stockholder v. stakeholder theory; social responsibility and environmental responsibility. Students will evaluate case studies and practices in order to develop the skills for leading and developing sustainable business models that adhere to a code of behavior influenced by industrial, organizational, national, and international standards. Case studies will be used to support learning.
FINANCIAL DERIVATIVES
This module deals with the products and strategies of International Investment Banks. It includes the description and analysis of the characteristics of the most commonly used financial derivatives such as Futures, Forwards, Swaps and Options relating to commodity markets and stocks. Modern techniques are used to evaluate financial derivatives. Emphasis is placed on how International Investment Banks value and use financial derivatives and how they encourage their clients to use derivative products to implement risk management strategies within corporate applications. Specifically, students will first cover topics related to futures and forward contracts. Then we will study the options and various strategies. Black-Scholes valuation models and Binomial Trees are also an important part of the course. Students will learn the techniques used to value financial derivatives and hedge risk exposure. Case studies will be used to support learning.
BUSINESS ANALYTICS
This course provides an introduction to methods and tools of business analytics. It covers the data handling and visualization, along with the methods that can be used for data analysis. The epicenter of the course is the use of the results of the analysis in order to provide business reports that facilitate business decisions. Case studies will be used to support learning.
Semester 7
INTERNAL CONTROL AND RISK MANAGEMENT
The aim of this course is to provide an in-depth analysis of various risk management issues and examine certain internal auditing topics. In particular, the course offers a thorough evaluation of risk categories including, interest rate risk, credit risk, liquidity risk, capital risk, fraud risk and market risk. Moreover, the course provides an in-depth analysis of the internal control system and procedures, as well as the risk management procedures. Case studies will be used to support learning.
ADVANCED MANAGERIAL ACCOUNTING
The course provides an in-depth analysis of advanced methodologies used in managerial accounting for decision making and strategic decision making. The course is structured along budget procedures and analysis of various variances, as well as, business valuation and pricing methods. Moreover, the course provides a number of methods to analyze decisions relating to transfer pricing. Case studies will be used to support learning.
BANKING
ฮคhis module examines the key risks of financial institutions (market, credit, liquidity, pre-payment risks) and the importance of Asset-Liability management. Students will be exposed to key trends and changes that take place in the banking sector, the current problems confronting managers in banking, and become familiar with the various career opportunities in the industry. Case studies will be used to support learning.
FINANCIAL DERIVATIVES
This module deals with the products and strategies of International Investment Banks. It includes the description and analysis of the characteristics of the most commonly used financial derivatives such as Futures, Forwards, Swaps and Options relating to commodity markets and stocks. Modern techniques are used to evaluate financial derivatives. Emphasis is placed on how International Investment Banks value and use financial derivatives and how they encourage their clients to use derivative products to implement risk management strategies within corporate applications. Specifically, students will first cover topics related to futures and forward contracts. Then we will study the options and various strategies. Black-Scholes valuation models and Binomial Trees are also an important part of the course. Students will learn the techniques used to value financial derivatives and hedge risk exposure. Case studies will be used to support learning.
FINANCIAL RISK MANAGEMENT
This module attempts to provide a complete framework for corporate risk management. In particular it focuses in financial risk management and on the quantification of financial risk through VaR. First, the relevant mathematical and statistical background is presented. Next, subjects such as the definition of VaR, parametric estimation of VaR, estimation of VaR with Monte-Carlo simulation and historical simulation, VaR of portfolio and specific positions in shares, etc., model adequacy check and stress testing are discussed. In addition, it examines the management of cyber risks to which businesses are increasingly exposed. In the context of managing these risks, the relevant definitions, their classification, the relevant institutional framework, their evaluation and valuation methods are provided. Case studies will be used to support learning.
RESEARCH PROJECT – PROPOSAL
This is a two-semester course where students are required to undertake a research project on a topic of their choice. A supervisor will guide students throughout their project while generic guidance will be provided at the beginning of the module to help students identify a suitable topic, prepare a literature review, choose an appropriate methodological approach and structuring their dissertation. Case studies will be used to support learning.
Semester 8
CONSOLIDATED FINANCIAL STATEMENTS
The aim of this course is to enable students to understand the concept and purpose of consolidated financial statements and reporting within the context of contemporary accounting theory and practice. This module explains all the major conceptual issues pertaining to consolidations, discusses the preparation of consolidated financial statements, presents the basic reporting standards for consolidation and analyses the nature and reporting of intercompany transactions. Case studies will be used to support learning.
CONTEMPORARY ISSUES IN FINANCIAL ACCOUNTING
The objective of this course is to provide students with an advanced analysis of topics of financial accounting. The course analyses the context and purpose of financial accounting in banks, as well as, the accounting treatment of leasing, sales and leaseback, factoring, joint ventures, securitization, financial instruments, hedging accounting and offshore companies. Case studies will be used to support learning.
SPECIAL ISSUES IN FINANCE
The objective of this module to enrich the financial knowledge of students through a series of lectures using case studies on specific contemporary financial topics. The topics covered are: MBS and ABS markets, Alternative investments, Real estate, Environmental risk and ESG, social and economic networks, weather derivatives and others. Case studies will be used to support learning.
FIXED-INCOME SECURITIES
The world of fixed-income markets is becoming increasingly more complex with debt instruments that have varied payoffs structures and fixed-income derivatives that are growing in size and complexity. As a result of the 2007-2008 global financial crisis many key players in the fixed-income markets either collapsed (Bears Stearns and Lehman Brothers), or were bailed out by governments (Freddie Mac, Fannie Mae, the Royal Bank of Scotland, Lloyds TSB, and HBOS, etc.). Hence, the aim of this module is to provide an introduction of the complex nature of fixed-income markets and securities and a discussion on the forces affecting prices and risks of such instruments. The module will also include a discussion on the appropriate management techniques to hedge the risks associated with fixed-income instruments. Case studies will be used to support learning.
RESEARCH PROJECT – DISSERTATION
This is a two-semester course where students are required to either undertake a research project on a topic of their choice or deliver an industrial dissertation provided that certain conditions are met with regards to the host organization. A supervisor will guide students throughout their dissertation while generic guidance will be provided to help students identify a suitable topic, prepare a literature review, choose an appropriate methodological approach and structuring their dissertation. Case studies will be used to support learning.
