lunduniversity.lu.se

Master's programme in Accounting and Finance

MSc in Business and Economics | 1 year | 60 credits

Course content

The programme is organised into three different specialisations. When applying for the programme you also select your specialisation, depending on your ambitions and interests.

Common core courses (autumn semester, September–October)

"Corporate Finance" provides advanced knowledge of corporate finance, covering topics such as the interaction between internal and external financing and risk management, contracting between a firm and its management and stakeholders, dividends and stock repurchases, and ownership structures. It also deals with econometric techniques for analysing corporate finance data, with an emphasis on choosing and using appropriate modeling techniques for cross-sectional and panel data.

"Financial Communication" gives participants thorough understanding of principles for analysing advanced accounting problems and the language used when supplying financial information and explaining and legitimating corporate actions, outcomes, decisions etc. 

"Management Control" gives participants thorough understanding of advanced management accounting and control issues from both a theoretical and a practical perspective. Throughout the course participants are confronted with the latest developments in management accounting and control in research as well as practice.

Accounting and Management Control (autumn and spring semester, November–March)

The specialisation includes the following courses:

"Performance Measurement and Management" provides participants with advanced knowledge about the use of performance measurement to improve decision making and the motivation of individuals. The process of collecting, analyzing, and reporting financial and non-financial performance may relate to an individual, group, organization, or system. This process may be guided by a balanced scorecard approach or similar framework, linking performance measurement with objectives and strategies. Special emphasis is given to how biased decision-making related to assessment of performance can be avoided, and how different forms of financial and non-financial incentive schemes influence individual motivation.

Course code: BUSN76 | Download curriculum

"Accounting and Management Control in Different Contexts" provides participants with knowledge about how management control is influenced by different strategies, organizational characteristics and objectives, and market and societal factors. Special emphasis is given to complex situations that require balancing management control systems towards multiple and competing demands. Contexts covered include management control and management accounting techniques to support innovation strategies, management control in not-for-profit organizations, and management control in professional services firms with knowledge-intensive work. 

Elective course (autumn semester, November–January). Elective courses may be subject to variation and may be cancelled due to limited student demand, but examples are:

  • Strategic Cost Management, which provides participants with deepened and thorough knowledge of investment analysis, credit analysis, and costing within a strategic framework. It provides participants with tools to investigate business problems, specialized knowledge about investment planning and costing on an aggregate level, and detailed knowledge about model building. The course also familiarizes participants with major and recent literature in their field as well as introduces important research techniques.
  • Corporate Valuation, which focuses on analysing businesses, corporate performance, and financial reporting. Participants will gain in-depth knowledge of valuing companies, primarily using cash-flow-, income-, and comparables-based valuation methods. The course emphasizes analysing accounting data and appraising, interpreting, and restructuring financial statements for use in financial analysis and corporate valuation.
  • Advanced and International Accounting, which gives participants thorough understanding of principles for analysing advanced accounting problems. It also examines and analyzes accounting practices and norms in, and differences between countries, as well as analyzes and compares the work of leading accounting standard-setting bodies with an international influence, such as the EU, the IASB (the International Accounting Standards Board), and the FASB (the Financial Accounting Standards Board).

Elective course (spring semester, January–March). Elective courses may be subject to variation and may be cancelled due to limited student demand, but examples are:

  • Accounting Information Systems, which provides deep knowledge of the models for and structure of accounting information systems as well as risk assurance systems. The course provides understanding of data- and information flows in organizations, systems architecture, and validation and security in the accounting information system. It also focuses on the role of accounting information systems in decision making.
  • Corporate Risk Management, which deals with strategies and tactics of value-enhancing risk management, with particular emphasis on integrated and enterprise-wide risk-management solutions. The course also deals with risk-control mechanisms such as internal controls, insurance solutions, and risk management using derivatives, such as forwards, futures, swaps, and options.
  • Frontiers in Accounting, which provides advanced knowledge about the theoretical and historical basis of corporate financial communication and assurance. The course focuses on issues currently under debate in the area. It further provides skills in critically discussing and applying different methods in accounting research. 

Accounting, Assurance and Financial Communication (autumn and spring semester, November–March)

The specialisation includes the following courses:

"Auditing, Assurance, and Compliance" gives participants knowledge and understanding of assurance, regulation, compliance, and auditing and the role of assurance and auditing in organizations and society, as well as the international regulatory architecture in the area. The course also analyses motivations and rationalization of creative accounting and financial statement fraud and discusses mechanisms to detect and prevent fraud.

"Information Environment" provides understanding of the firm’s information environment and its relationship with the governance and control of organizations. The course discusses the provision and assurance of financial accounting and other information released by organizations or other parties to financial markets and other stakeholders, the role of information in corporate governance, macro-level ideologies that shape the institutional context of businesses, and the role of institutions in regulating, processing, and securing information from organizations.

Elective course (autumn semester, November–January). Elective courses may be subject to variation and may be cancelled due to limited student demand, but examples are:

  • Advanced and International Accounting, which gives participants thorough understanding of principles for analysing advanced accounting problems. It also examines and analyzes accounting practices and norms in, and differences between countries, as well as analyzes and compares the work of leading accounting standard-setting bodies with an international influence, such as the EU, the IASB (the International Accounting Standards Board), and the FASB (the Financial Accounting Standards Board).
  • Designing Finance. The aim of the course is the optimization of corporate capital and risk structures through active capital management. The course provides applied knowledge of how to assess and design corporate financing transactions, including venture capital, equity, straight, hybrid, and structured fixed-income securities and insurance products. It also trains participants in assessing credit risk and doing corporate credit ratings.

Elective course, period 3. Elective courses may be subject to variation and may be cancelled due to limited student demand, but examples are:

  • Frontiers in Accounting, which provides advanced knowledge about the theoretical and historical basis of corporate financial communication and assurance. The course focuses on issues currently under debate in the area. It further provides skills in critically discussing and applying different methods in accounting research.
  • Corporate Risk Management, which deals with strategies and tactics of value-enhancing risk management, with particular emphasis on integrated and enterprise-wide risk-management solutions. The course also deals with risk-control mechanisms such as internal controls, insurance solutions, and risk management using derivatives, such as forwards, futures, swaps, and options.
  • Accounting Information Systems, which provides deep knowledge of the models for and structure of accounting information systems as well as risk assurance systems. The course provides understanding of data- and information flows in organizations, systems architecture, and validation and security in the accounting information system. It also focuses on the role of accounting information systems in decision making.

Corporate Financial Management (autumn and spring semester, November–March)

The specialisation includes the following courses:

"Corporate Valuation" focuses on analysing businesses, corporate performance, and financial reporting. Participants will gain in-depth knowledge of valuing companies, primarily using cash-flow-, income-, and comparables-based valuation methods. The course emphasizes analysing accounting data and appraising, interpreting, and restructuring financial statements for use in financial analysis and corporate valuation. 

The aim of the course is the optimization of corporate capital and risk structures through active capital management. The course provides applied knowledge of how to assess and design corporate financing transactions, including venture capital, equity, straight, hybrid, and structured fixed-income securities and insurance products. It also trains participants in assessing credit risk and doing corporate credit ratings.

"Financial Analysis and Corporate Restructurings" provides participants with thorough and practical understanding of how to analyze, compare, value, structure, and finance corporate restructurings, such as mergers and acquisitions, alliances, joint ventures, buyouts, spinoffs, carveouts, etc. It also deals with econometric techniques for analysing corporate finance data, with particular emphasis on techniques for dealing with endogeneity. 

Elective course (spring semester, January–March). Elective courses may be subject to variation and may be cancelled due to limited student demand, but examples are:

  • Corporate Risk Management, which deals with strategies and tactics of value-enhancing risk management, with particular emphasis on integrated and enterprise-wide risk-management solutions. The course also deals with risk-control mechanisms such as internal controls, insurance solutions, and risk management using derivatives, such as forwards, futures, swaps, and options.
  • Accounting Information Systems, which provides deep knowledge of the models for and structure of accounting information systems as well as risk assurance systems. The course provides understanding of data- and information flows in organizations, systems architecture, and validation and security in the accounting information system. It also focuses on the role of accounting information systems in decision making.
  • Frontiers in Accounting, which provides advanced knowledge about the theoretical and historical basis of corporate financial communication and assurance. The course focuses on issues currently under debate in the area. It further provides skills in critically discussing and applying different methods in accounting research. 

Degree Project in Accounting and Finance (spring semester, April–June)

 

The main objective is to develop students’ ability to conduct an independent scientific study in the broad area of accounting and corporate finance, a study which includes developing relevant research questions and designing and conducting a study that addresses the research questions based upon appropriate methodological considerations and relevant theories within the areas covered by the master program. The students should also be able to present their study in a written academic report as well as orally. ‘Accounting’ and ‘corporate finance’, the subject matters of this course, are understood here in a broad sense.

The specific course content will vary depending on the subject chosen, no specification is made here. In general the content of the reading matter will include academic articles and similar material at a suitably advanced level. The course will involve carrying out a project which results in a master thesis and being opponent on another thesis in the context of a series of such presentations by other students. 

Course code: BUSN79 | Download curriculum

This is a preliminary course list, and is intended as guidance only. The course list may be subject to change.

Case studies and guest speakers
The teaching methods used focus on the critical analysis of the course content with the use of real case studies wherever possible.  International guest lecturers and speakers from business, government, NGOs and research regularly feature as part of the curriculum to further connect studies to the professional world.