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 two different specialisations. Applicants must specify which specialisation they are applying for in their Statement of Purpose (motivation letter) that has to accompany the application.

Common core courses (autumn semester, September–October)

This course 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.

Course code: BUSO94

The course focuses on the textual communication of the accounting numbers presented in financial reports. In order to understand such communication it is necessary to also understand principles for solving advanced accounting problems, i.e. to have an understanding of the origin of the performance measurements that is reported in annual and interim reports, annual meetings, press releases etc.

The course is organized in a course introduction and different communication themes. The introduction covers financial discourse and communication in general. The following themes cover specific theoretical approaches to financial communication, such as accounts, intertextuality, linguistic hedging, metaphors and narrative or storytelling. 

Course code: BUSO73 | Download curriculum

The objective of the course is that students should get a thorough understanding of complex management accounting and control issues from both a theoretical and a practical perspective. The course covers advanced issues in accounting and management control. Throughout the course students are confronted with the latest developments in accounting and management control in research as well as practice.

Main content:

  • The historical development of accounting and management control research and practice.
  • Theoretical perspectives on accounting and management control.
  • Overview of research methods in accounting and management control.
  • Contemporary methods and techniques for accounting and management control.
  • Accounting and management control in different types of organizations. 

Course code: BUSO71 | Download curriculum

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

This course 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. 

Course code: BUSN77 | Download curriculum

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 (BUSN64), 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 (BUSO95), 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.
  • International Accounting (BUSN61), 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 (BUSN76), 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. 

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. 

Course code: BUSO95

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.

Course code: BUSO96

Subject to variation.

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 (BUSN67), 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.