MASTER PROGRAM

“CORPORATE FINANCIAL MANAGEMENT”

This 18-months program enables you to master key techniques and to formulate strategies to respond to complex financial challenges you and your organization face on a daily basis. You will learn to apply corporate financial management tools used in analyzing and developing strategies for effective business decisions. The aim of the program is to provide an understanding and awareness of both the underlying concepts and practical applications of the advanced level financial disciplines. You will learn the fundamental techniques of accounting, financial analysis, valuation, risk management and restructuring that will enable you to successfully operate in any industry or sector.

Learning Objectives

After successfully completing this program, a student will be able to:

1.    Synthesize financial theory and practice to assess the role of corporate finance

2.    Interpret financial statements as a key part of a company’s annual report

3.    Analyse corporate investment decisions and make recommendations regarding project options

4.    Explain how the financial services industries (insurance, banking, real estate, etc) interact

5.    Describe the impact that financial, technological and regulatory changes have on the structure of the financial industry

6.    Apply financial instruments in managing the risks of investment and hedging activities at both individual and corporate levels

7.    Design hedging strategies to manage market risks (e.g., currency, economic, political, etc)

8.    Master the intercultural communication and management presentation skills

The Corporate Financial Management program includes the following disciplines. 

Core:

1. Financial Controlling

2. Financial Management

3. Financial Risk Management

4. Innovations in Financial Management

5. Value Based Management

6. Investment Banking and Private Equity

7. Quantitative and Qualitative Methods Of Scientific Research

Minor:

8. Accounting under International Financial Reporting Standards

9. ERP Systems

10. Internal Financial Control

Practical Training:

Practice (second semester)

Preparation of Master Thesis (second semester)

Interdisciplinary Training

Practice (third semester)

Preliminary Presentation of Master Thesis (third semester)

Preparation and Defense of Master Thesis (third semester)

Courses descriptions:

1.      Financial Controlling

This course will enable students to develop critical thinking and problem solving competencies in the field of Financial Controlling. At the end of this course students will be able to obtain the knowledge about system of informational support and coordination of management decision making process, which involves the use of budgeting, strategic planning, management accounting, financial diagnostic, risk management, financial communication, internal consulting and aimed at maximizing value of the company. But more importantly participants can apply financial theory and financial techniques necessary for effective management practice in real life situations in an uncertain environment and learn how analyzed information is used on a daily basis in financial world.

2.      Financial Management

This course has a focus on a solid understanding of financial management, including the key concepts supporting modern financial decision-making and valuation. The number of financial decisions such as optimal capital structure, financial strategy, liquidity issues,raising equity and debt capital are analyzed. Students willacquire a comprehensive kit of financial analysis and valuation techniques and understand how to apply them.

3.      Financial Risk Management

The course will cover measurement techniques for different types of financial risks (equity, fixed income, currency, commodity) and instruments. It will cover tools such as duration, portfolio beta, factor sensitivities, portfolio distribution analysis, and value at risk (VAR). It will also discuss how risk measurement tools can be used for active management of the risk/return profile of financial institutions. Participants will obtain the depth knowledge of the most recent risk identification, measurement and management techniques.

4. Innovation Management

The course is based oninnovation management concepts, theories of idea generation, selection, strategy formulation and implementation. Students will learn the tools for implementing innovation projects and also how innovation projects should be selected and managed. Participants will develop an innovative financial mindset and expertise how firms successfully create new ideas for efficient management. The course also includes sessions about innovation strategy and financial tools in management.

5. Value Based Management

This course covers theoretical foundations and practical solutions in the field of value-based management to improve corporate decision-making process and manage shareholder value. The course aims to answer key question: How to create, manage and measure value? It focuses on residual income concept and its integration into value-based management system. Thus, students will improve their knowledge of corporate planning and control, performance measurement, motivation system and reporting by focusing on value creation and investors' expectations.

6. Investment Banking and Private Equity

The course is aimed at students who would like to gain a profound knowledge in investment banking, private equity and hedge fund.  Students will learn about how the investment banking and private equity industries are interlinked, who the main market players are and how they are organized. The market players' different professional perspectives, decision processes and incentives in merger and acquisition processes will be analyzed. Various forms of investment banks and private equity firms will be discussed. In addition to the theoretical industry background, students will learn advanced financial concepts and models frequently used in these industries. Most notably, the fundamental valuation methodologies will be reviewed, and discounted cash flow and leveraged buyout analyses will be performed based on real life business examples.

7. Quantitative and Qualitative Methods Of Scientific Research

The course reviews the qualitative and quantitative methods fundamental for the scientific research in finance.  Students successfully completing this course will achieve necessary skills to solve financial problems while making their data driven scientific research. Students are expected to learn how to collect, analyze and interpret data. The course covers such inherent quantitative tools as regressions, clustering and network analysis. R language, the most widespread software among data scientists, is going to be used during lectures and practice classes.

8. ERP Systems

The subject of discipline is managerial accounting, controlling and analytical processes, the work of people engaged in financial activities, control and analysis in the conditions of using automated data processing and accounting information systems for management purposes. Financial Controlling application in terms of ERP-systems aimed at solving enterprise management issues in information management, coordination, planning and implementation of financial transactions, as well as in monitoring their implementation.

9. Internal Financial Control

The objective of this course is to develop a framework for understanding the concept of internal control over financial reporting and to cover the basics of internal and external audit. Several important concepts will be studied in detail, including: The Sarbanes–Oxley Act of 2002 and the Public Company Accounting Oversight Board, The COSO internal control framework, roles and responsibilities in internal control, International Standards on Auditing, United States Generally Accepted Auditing Standards, professional ethics and quality control standards, compliance audit, internal control and fraud. Students will learn how to apply the relevant knowledge, skills, and exercise professional judgment in analyzing, evaluating and concluding on the effectiveness of internal controls and compliance issues in the context of case studies, best practice and current developments.