ELECTIVES INFO
SESSION
MScBA in Accounting &
Financial Management
29 October 2015
BMME001
ACCOUNTING
ANALYTICS
ACCOUNTING ANALYTICS
• From information origin (core courses) to information use • The role of accountants and controllers is evolving:
– IT/ERP skills
– New business reporting technologies (e.g., XBRL) – Business analytics skills
• Approach: theory and practice (e.g., case studies, guest lectures, hands-on exercises)
ACCOUNTING ANALYTICS
Source:
PwC, 2015. Data Driven: What Students Need to Succeed in a Rapidly Changing Business World
MAIN TOPICS
• Main business processes: – Revenue cycle
– Expenditure cycle – Production cycle
• Decision making, data analysis, and visualization: – Big Data
– Predictive analytics and risk analysis
– Continuous auditing through process mining
TUTORIALS
• Case studies / problems / software demonstrations • Hands-on exercises with a real Enterprise Resource
Planning (ERP) system
SAP UNIVERSITY ALLIANCES
• Why SAP? Market leader and well-recognized brand • Network of 1.450 universities worldwide
– http://scn.sap.com/community/uac
• Same software platform adopted by SAP customers and partners, not a demo version
FURTHER QUERIES
Dr. Nicola Dalla Via: [email protected]
BMME002
ADVANCED BUSINESS
ANALYSIS &
ADVANCED BUSINESS ANALYSIS & VALUATION
10
• Practical sessions with topical examples from different sectors
• Group and individual assignments around cases • Use of guest speakers from banking and industry • Focus on three different topics:
– Accounting and valuation of banks – Evaluating M&A Activity
EVALUATING M&A ACTIVITY
UNDERSTANDING RISK MANAGEMENT
BMME003
NEUROACCOUNTING: LEARNING OBJECTIVES
• Explain how brain processes are related to financial decision making
• Explain the techniques used to study brain processes in neuroscience at a basic level
• Explain findings from extant neuroscience research papers • Apply knowledge of neuroaccounting to practical problems
in finance and control
• Formulate a research question that applies social cognitive neuroscience
NEUROACCOUNTING: TOPICS & FORMAT
• Introduction to neuroscience: brains, neurons & behavior • Decision making and the brain
• Neuroscientific methods • Neuroscience and:
– (Behavioral) economics
– Cognitive & social psychology • Accounting applications:
– Financial reporting
– Financial decision making – Controllership
• Working format – Lectures
– Working groups – Lab visit(s)
FURTHER QUERIES
Prof. Dr Frank Hartmann (course coordinator): [email protected]
Ph.D. Students:
• Anke Murillo Oosterwijk MSc • Aljaž Sluga MSc
BMME004
TAXATION
• Taxation affects many business decisions, such as: how to finance the business, where to invest, when and where to recognize elements of revenues and expense, and what transfer prices to charge.
• This course provides a conceptual overview of how taxes (should) affect financial managers’ decisions:
– Taxes are considered as a cost;
– And we will consider how these costs affect several decisions: • Managerial compensation (e.g., deferred compensation) • Financing decisions (e.g., payout decisions)
• Investment decisions (type and location)
• Please note: while during this course some legal and accounting aspects of taxation will be introduced, the aim of this course is NOT
FURTHER QUERIES
Pooyan Ghazizadeh MSc: [email protected]
BMME005
ASSURANCE
SERVICES
ASSURANCE SERVICES
24
Definition:
• “An independent professional service, typically provided by a
certified public accountant (Dutch: Register Accountant), with the goal of improving the (context of) information so that decision makers can make more informed, and presumably better, decisions.” (Wikipedia)
This course
• Demand for assurance services
• Quality (determinants) of assurance services and audits • The auditing process
• Internal control
• Recent developments in assurance services: e.g., IT, laws and regulations
Course Approach:
A mix of lectures • Theory based
• Hands-on exercises • Guest lectures
A mix of theoretical, practical and academic perspectives on assurance services and auditing
Good start as a basis if you are considering pursuing a CPA (RA), or a controlling or internal auditing position as future career
options
and work sessions • Cases
• Presentations
• Academic articles • Home assignments • Mostly group work
ASSURANCE SERVICES
FUTHER QUERIES
26
BMME006
CONTROLLERSHIP
(CMA TRACK)
WHAT IS THE CMA?
IMA’s certification for accountants and financial professionals in business.
The CMA validates mastery of financial planning, analysis, control, and decision support– the critical skills required of
valuable strategic advisors in your organization.
w
www.imanet.org
WHY THE CMA?
• CMA certification can expand your career opportunities
• Organizations of all types and sizes seek professionals with critical accounting and financial management skills
– Multinational Corporations
– Private Firms
– Not-for-Profit Organizations
– Government Organizations
• IMA has over 300 professional and student chapters worldwide.
• Today, there are more than 20,000 active CMAs (Certified Management Accountants).
• Globally, CMAs earn 59% more in median salary and 63% more in median total compensation than their non-CMA peers.
IMA IN EUROPE
• More than 75,000 Members, thereof 2,600 in Europe http://www.europe.imanet.org/IMA-in-Europe
– 62% U.S.
– 38% Non-U.S.
– 9 European chapters: Germany, Netherlands (Amsterdam), Benelux, Switzerland, Austria, Turkey, Russia, France and Kazakhstan Chapter.
– IMA Europe Office located in Zürich. IMA’s international community is growing rapidly.
– More than 2,000 CMAs granted in Europe, thereof 679 in the Netherlands
– More than 700 exams taken in Europe in 2015, thereof 250 in the Netherlands
– More than 600 active members in the Netherlands – Membership in the Netherlands has grown for each of
the last 10 years.
CMA CERTIFICATION PROGRAM • Education Qualification
Bachelors Degree (in any area, from an accredited college or university). This may be completed prior to application or within 7 years of passing the
examination.
• Experience Qualification
Candidates for certification must complete two continuous years of professional experience in management accounting or financial management. This may be completed prior to application or within 7 years of passing the examination. • Exam
– Part 1: Financial Planning, Performance and Control – Part 2: Financial Decision Making
Each part takes 4 hours: 100 multiple-choice questions (3h) & two 30-minute essay-questions (1h)
3 years to complete the exams from date of program enrollment. Must take at least 1 exam part within 1 year from enrollment
Testing window periods: January & February / May & June / September & October
ELECTIVE “CONTROLLERSHIP” CONTENTS • Lecture 1 – 6:
– CMA Part 1: Financial Planning, Performance and Control
• Planning, budgeting and forecasting (30%) • Performance measurement (25%)
• Cost management (25%) • Internal Controls (15%) • Professional Ethics (5%)
• Lecture 7 – 12:
– CMA Part 2: Financial Decision Making
• Financial statement analysis (25%) • Corporate finance (25%)
• Risk management and decision analysis (25%) • Investment decisions (20%)
• Professional Ethics (5%)
COSTS AND FEES (SEP 2015)
33
All costs in USD per person Regular
Prices RSM fee
Annual Membership Fee $220 $25
One-time application fee $15 0
CMA Program Entrance Fee $180 $75
Fees for 2 exams $760 $450
TOTAL $1,175 $550
Dutch RC program fees & materials
€23.380
• CMA Learning Material (2015): €470 included shipping and any applicable sales tax. Includes a self-study book,
PASS RATES FOR FIRST-TIME TEST TAKERS SOURCE: STRATEGIC FINANCE, AUGUST 2014
34
Pass rate for RSM in 2015 is
FURTHER QUERIES
• Dr. Stephan Kramer: [email protected]
BMME007
MERGERS &
ACQUISITIONS AND
CORPORATE
MERGERS & ACQUISITIONS AND CORPORATE GOVERNANCE
This course provides students with a guide to understand merges and acquisitions in today’s competitive markets. It combines:
• lectures providing a comprehensive overview of accounting, economic, and financial issues related to mergers and
acquisitions. Specifically, we review the market for corporate control and discuss strategic and corporate governance issues related to firms' decision to acquire or be acquired
• guest lectures that give students insights from professionals • hands-on experience – Case study
• discussions of empirical research about M&As and/or corporate governance, e.g. “Flights of Fancy: Corporate Jets, CEO
Perquisites, and Inferior Shareholder Returns”, David Yermack (2006), Journal of Financial Economics
MERGERS & ACQUISITIONS AND CORPORATE GOVERNANCE
38
During the course we try to answer the following questions…
• Why do firms merge, or acquire others?
• What role does the management and board of directors play?
• What role do hedge funds play?
• What are the costs and benefits of M&A?
… and if the WSJ is right in saying that “investors fall out of love with deals”
FURTHER QUERIES
• Dr. Caspar David Peter: [email protected]
CAREER IN AUDITING/ASSURANCE SERVICES
• Students who already know they wish to become an auditor(Certified Public Accountant /Register Accountant), for instance working at one of the Big-4 firms, must have
successfully completed the following electives before enrolling in the Dutch (RA) post-graduate program:
Accounting Analytics (MEL1)
Taxation (MEL2)
Assurance Services (MEL3)
• For international students pursuing a career in auditing, these electives are equally advisable given their content and
alignment with the job profile.
CAREER IN CONTROL/FINANCIAL MANAGEMENT
• If you wish to become a controller (Certified Management Accountant/Register Controller), we advise you to choose
Controllership (MEL3), which helps you to prepare for the
CMA exam.
• Also, following Accounting Analytics (MEL1) is a strongly
recommended choice for most controllers, but you may have reasons to deviate.
• Whereas we advise you to choose a third elective based on your needs or interests, we emphasize that Taxation (MEL2) is potentially relevant for a career in financial management.
CAREER IN FINANCIAL ADVISORY
• If you wish to pursue a career in financial advisory, with a focus on financial analysis and valuation, we suggest you to consider Advanced Financial Statement Analysis (MEL1) and
Mergers & Acquisitions and Corporate Governance (MEL3)
based on your personal needs or interests.
• Following Accounting Analytics (MEL1) or Neuroaccounting
(MEL2) will leave many options open, but you can also tailor the program completely to your needs/interests.
QUESTIONS?
Should you have any further query, feel free to contact:
Dr. Paolo Perego
Thesis coordinator and Academic Director MScBA Accounting & Financial Management Room T10-47
e-mail [email protected]
