Master in Finance and Accounting 2-year program

About the program 

Join our webinar on this program on the 4th of September. More information under this link.

  • In 2017 Kozminski University was ranked 15th in the world in the Global Masters in Finance Ranking published by "Financial Times". It is the only university ranked from Central and Eastern Europe.
  • The Master’s Program in Finance and Accounting has been accepted into the CFA Institute University Recognition Program. This status is granted to institutions whose degree program(s) incorporate at least 70% of the CFA Program Candidate Body of Knowledge (CBOK), which provide students with a solid grounding in the CBOK and positions them well to sit for the CFA exams.

  • Students will get knowledge about advanced financial tools and techniques and develop skills of their application through workshops and real life case studies. Through the program students will be able to develop data gathering and analyses skills, communication skills and ability to use IT tools effectively.
  • The Master's Program in Finance and Accounting is designed in close cooperation with practitioners - representatives of companies and financial institutions. It delivers in-depth specialized knowledge and develops skills of analyzing complex business problems through combining financial and accounting information with knowledge from other areas.
  • The program of Master's studies is addressed to candidates who bind their professional future with accounting in the broad sense and selected discipline of finance, in which they want to specialize. Knowledge, skills and attitudes offered by the program enable effective functioning both in disciplines connected and not connected with business, during work for somebody and by oneself.
  • The Program is actively supported by industry strategic partners, who assure that the curriculum stands to the current requirements of the labor market. Today these are Citibank International PLC, Accenture Services Ltd and KPMG. Each of our partners is actively engaged in shaping and directing the study process by participating in the Program Council and thereby, bringing invaluable input to the contents of the course, organizing guest lectures facilitated by experienced senior management and providing internship and full-time job opportunities to our students. Assuring that the study process is closely intertwined with practical experience, gives our students a competitive edge and provides a dynamic start to their careers.

PROGRAM PARTNERS

 

Students' testimonials

One of the reason why I chose Kozminski is because I really enjoy the practical approach of the program they are offering as well as the reputation it obtained. I first heard of the University from the Financial Times ranking. In addition to that, the business school also offers wide range of the program and electives, which allows students to customize their program. The international accreditation also boosted my confidence about choosing this business school, as I know the quality of the education, teaching and research will be up to  the international standard. The school also partners with many companies in Poland, therefore, it also gives me an opportunity to gain work experience in Poland. What is more, the tuition fees are also quite reasonable. I researched many school in Europe and the world and  I wasn’t able to find a business school, which would meet my financial requirement as well as my career opportunities. I completed my bachelor degree at Aberystwyth University, Wales. With the current unstable situations in the United Kingdom, I think that Poland, especially Kozminski University, was be the best choice for me. I would give the future and prospective students advice, that will be ‘Come to join Kozminski family with an open-minded and curiosity attitude’. 

Kokfoo Chow (Malaysia), Master in Finance and Accounting Student


For me Kozminski University has been one of the best choices of my life. The high in the FT ranking, practical methodology, highly graded faculty members and the friendly staff members at the University make it a perfect choice to pursue your education. The way of teaching with case studies and group works brings out the individuals full potential on the particular topic. My fellow classmates are from diversified backgrounds but we are united. I strongly believe that this is the best possible way for me to start my career in the financial sector.

Ajesh James (India), Master in Finance and Accounting Student


The Master in Finance track at Kozminski University is characterized by dedicated students and top-level professors that fosters an environment for aspiring finance professionals. My reason for applying to Kozminski was due to their high international school rankings, and to study in Eastern Europe’s largest economy. Solving business cases with groups of students, gives us a great advantage tackling real life scenarios after graduation.  Our curriculum is heavy on quantitative subjects, but it also contains leadership development courses to help us succeed in management positions further down our career path. With Poland’s recent economic success, I believe that having experience and network in this region will give me a competitive advantage in my career.

Hakon  Ingebregtsen (Norway), Master in Finance and Accounting Alumni


The F&A program at Kozminski University enriches every aspect of my life. It is not only a place of academic excellence but also a place to turn into a real practitioner. Based on the case study approach, we learn to read critically and to question the issues, in order to unravel the essence of each story. Due to the highly international environment, the solutions are one of a kind as we incorporate ideas from around 15 different countries. The required techniques to live up to expectations are taught by lecturers who themselves have numerous years of practical experience and communicate their unwritten golden rules. At KU you are not just a number but rather a promising individual that gets all assistance needed. After your studies you not only end up with a degree but also with an excellent network. Without KU’s International Banking specialization, I probably would have not had the opportunity to find such a fantastic employment at an international bank.

Petra Pawlowski (Germany), Master in Finance and Accounting Alumni

CFA Research Challenge

Kozminski University actively participates in educational initiatives of CFA Society, Poland.

Student of Master in Finance and Accounting Program regularly participate in the CFA Research Challenge organized by the CFA Institute globally every year. It is a prestigious international contest based on a case study. University-sponsored teams prepare a valuation of a chosen publicly-traded company and present their investment recommendation to a panel of experts mostly comprised of CFA charter holders. More information

In 2015 the Team of KU students studying in Master in Finance Program won the CFA Research Challenge in Poland and took the second place in the EMEA Finals. In 2016 the KU Team took the second place out of 22 teams representing the best Polish universities.

Michał Szemraj, CFA:
"Being the member of the CFA Society, Poland, I was designated as an industry advisor for the KU Team during the preparation for the CFA Research Challenge, and genuinely enjoyed this experience. Students showed a deep knowledge of fundamental analysis and demonstrated practical skills of financial modelling, which allowed them to prepare a bullet-proof equity valuation model. Step by step, the KU staff is building a recognizable brand praised for distinguished academic achievement, high level of professionalism, and unrivalled learning environment".

What you gain from your studies? 

  • Economic mechanisms at the micro- and macro- economic level
  • Proper functioning of an enterprise and financial institutions in a free market economy
  • Assessment of the current and future financial conditions of an organization
  • Market position and business entities
  • Laws and their relation to business practice
  • Professional and ethical standards used in solving problems in finance and accounting
  • Principles and accounting standards, both in domestic and foreign and international accounting operations
  • Preparing and interpreting financial statements and formulating useful conclusions based on them
  • Design of efficient accoutning systems, assessing the effectiveness of the accounting systems used in a vairety of entities
  • Implement ways to improve the financial condition of each entitiey, its restructuring and rehabilitation
  • Making the right choice out of the most favourable sources of financing
  • Identify risks in business, its measurement and management

Career opportunities after your studies 

  • A specialist in finance, financial analyst, or manager in organizations dealing with financial services (banks, insurers, mutual funds, broker services), international corporations or the public sector.
  • A controller, an accountant, an auditor, or an accounting specialist in a related field (professions that have proven to be resistant to the financial crisis). The program prepares its participants for work in both the private and public sectors.
  • A specialist in any department of a company related to finance and accounting
  • A specialist in Anti-Money Laundering and compliance departments of international banks

STUDY RESOURCES 

Students have access to multiple study resources allowing them to collect all the necessary information for solving practical business problems as well as to dwell into academic science. The university provides access to a plethora of databases, including Reuters, BankScope, EMIS, Infinancials, etc. (a complete list can be found here), which represent an essential toolkit for business analysis. Academic databases such as ScienceDirect, ProQuest, JSTOR etc. allow to track the most recent research findings in the domains of economics and finance. Thanks to a special agreement, KU students have access to the published materials of Financial Times (including articles, webcasts, business data and interactive graphics), which provides an unparalleled international exposure and essential multidisciplinary knowledge of global politics and finance. 

Being a highly positioned academic institution, Kozminski University puts a strong emphasis on rigorous research aimed at gaining new insights into business and economics through the application of refined methodology. KU staff publish prolifically in prestigious peer-reviewed journals such as Journal of Corporate Finance, Journal of Banking and Finance, Journal of Financial Stability, Emerging Markets Review, etc.  

Specializations* 

 

 

  • Corporate Finance

The specialization offers an immersive and accelerated learning environment – one that inspires students to reflect and reemerge as professional financial analysts. Facilitated and moderated by experienced market practitioners, the specialization classes challenge the conventional knowledge and offer fresh insights into complicated business issues. As part of the specialization, students will be trained in cutting-edge techniques of portfolio and wealth management (including alternative investments), financial modeling, capital budgeting, and risk management. Kozminski University seeks to make the contents of the Corporate Finance specialization consistent with the CFA Candidate’s Body of Knowledge (CBOK). The ultimate goal is to enable KU students to start passing CFA exams while studying at the University.

 

 Mateusz Kacprzak - Managing Director, Head of Equity Capital Markets, Bank Zachodni WBK S.A.:

Financial analysis and valuation is not something one can learn by exclusively grinding books. It requires a great deal of practical experience to build upon, and often, some pure intuition. KU teachers are mostly experienced market practitioners, who share their knowledge through case studies and practically-oriented workshops. The Program equips students with a state-of-art toolkit, allowing them to start a successful career in finance. One thing to learn at the beginning is that complexity of business issues hides the underlying opportunities.

 

 

 

Tomasz Wiśniewski – Partner, Head of Valuation Services, Deal Advisory, KPMG:

KPMG decided to establish a partnership with Kozminski University. Our goal is to share our expertise and practical knowledge in the area of deal advisory with students of the Corporate Finance track of one of the best accounting and finance programs in Poland. Our experts with many years of practical experience provide insights on capital market transactions, global and local trends as well as the ways to ensure the deals are done properly to create value to the shareholders. We demonstrate ways how to measure value and account for uncertainty in the ever changing market and regulatory environment. We also present how through sound valuation corporate governance can be improved and the overall trust in transactions increase. We strongly believe that only the combination of academic theory and practical experience can shape finance managers of the future who are able and willing to take the next steps in their professional careers.

  • Corporate Reporting and Accounting - ACCA track

The specialization offers a professional in-depth training in the techniques of financial reporting, audit, and assurance. The classes aim to provide students with relevant theoretical basis and practical skills necessary to meet the expectations of the highly competitive business environment. Students gain advanced skills of consolidated financial reporting analysis, financial performance appraisal, quality control, and transnational audits.

Recognizing the transformative role of experiential learning, Kozminski University constantly strives to achieve a perfect balance of theoretical knowledge and practice-oriented study solutions. This is where the feedback from the practitioners and wide business community becomes an invaluable source of new ideas and relevant evidence validated by everyday decision making. The specializations ‘Corporate Finance’ and 'Corporate Finance and Accounting' are partnered with Accenture, which is a renowned and internationally acclaimed leader in the domain of strategy, consulting, technological and operational solutions for business. Accenture’s managers participate in the Program council and provide trainings to our Master students in order to deliver an out-of-the-box perspective on complicated business issues. The best students will be invited for an internship at Accenture.   


Edyta Gałaszewska-Bogusz - Service Delivery Operations Lead for Poland, Accenture:

In Accenture we constantly strive to bring ground-breaking solutions to our clients, help them unleash their growth potential and hone their strategic position. Our success is built by a dedicated team of professionals, whose business values and proactive approach shape the future vision of the most innovative ventures. The partnership with Kozminski University is an inalienable part of our development vector, which we perceive as an excellent opportunity to attract the most agile and practice-oriented minds to our team, and at the same time provide a feedback to the academic community, which powers our company. We are in a constant pursuit of talents and Accenture may become a great place for you to find inspiration, test your capabilities, and attain your ambitions.

  • International Banking - Anti-Money Laundering - track with Citibank

Qualified anti-money laundering (AML) professionals are in high demand as banking institutions increase their focus on risk prevention. Regulatory requirements are constantly evolving, forcing the financial sector to constantly improve AML response systems. As a result, AML has become a new hot career choice for ambitious people willing to work internationally. The shortage of qualified candidates in the field remains an issue. Recognizing the growing development opportunities offered by the AML industry, Kozminski University and Citi Service Center Poland established strategic partnership aimed at training skills and competences necessary to successfully work in the field of AML and Compliance. Students are familiarized with the general framework of risk management in financial institutions, AML operations standards and procedures, receive relevant knowledge of international legal AML regulations, and learn about the responsibilities of Compliance officers. Classes are conducted by senior management Citi’s AML Operations Hub. Best students of the specialization will be invited to summer internship program at Citi Service Center Poland.


Ewa Piasecka-Szalai, Senior Vice-President, AML Operations Head:

    Citi Service Center in Poland recently celebrated its 10th anniversary, and we are still growing at a rapid pace. We are proud of being officially recognized as one of the best employers in Poland. Partnership with Kozminski University is an important element contributing to our competitive advantage. AML is a dynamically growing industry, which offers attractive and rewarding career track. Warsaw has become one of the biggest AML Hubs in Europe. Maybe, your opportunity is here!

     

     

    * Specializations will launch provided that the required amount of students sign up.

    Selected courses 

    Core Courses
      • Business Analysis
      • Application of Statistics and Econometrics in Finance and Accounting
      • Quantitative and Qualitative Research Methods
      • Advanced Macroeconomics
      • Communication and Negotiation Skills
    Major Courses
      • Financial Law
      • Ethical Issues in Finance and Accounting
      • Advanced Corporate Finance
      • Corporate Financial Reporting
      • Advanced Financial Reporting
      • Introduction to AML and Compliance in Banking
      • Financial Instruments and Financial Risk Management
      • Big Data Analysis
      • Corporate Valuation
      • Psychology of Financial Markets
      • Advanced SQL
      • Fundamental Analysis
      • Advanced Management Accouting
      • Modern Banking Systems
      • Corporate Governance and Control
      • Advanced Methods for Performance Management
      • Mergers and Acquisitions
      • Finance Simulation Games
      • Elective Courses
    SPECIALIZATION COURSES: CORPORATE FINANCE - CFA TRACK
    • Portfolio Analysis
    • Innovations in Investment Project Appraisal
    • Derivatives Valuation and Advanced Risk Management
    • Alternative Investments
    SPECIALIZATION COURSES: CORPORATE REPORTING AND ACCOUNTING - ACCA TRACK
    • Taxes and Corporate Strategy
    • Advanced Audit and Asurance
    • Taxation
    • Audit and Assurance
    SPECIALIZATION COURSES: INTERNATIONAL BANKING - ANTI-MONEY LAUNDERING TRACK
    • Compliance in Banking
    • Financial Crime Prevention
    • Anti Money Laundering
    • Bank Asset and Liability Management

    If you have any questions regarding the contents of the Program 

    Please do not hesitate to send your queries and we will gladly provide you with necessary information: masterinfinance@kozminski.edu.pl

    Class schedule 

    • Full-time programs

    Classes take place from Monday to Friday in the morning and in the afternoon.

    • Part time programs

    Part time program classes take place on Friday (in the afternoon), Saturday and Sunday (in the morning and in the afternoon).

    Admission requirements 

    Admission for Master programs at Kozminski University is based on personal interviews. Candidates who apply for a Master program in the same field in which they have previously obtained a Bachelor diploma are not required to participate in the interviews. 

    Foreign Candidates are admitted with omission of the above mentioned regulations in accordance with the ordinance of the Minister of Science and Higher Education of the Republic of Poland of September 9, 2009.

    Required documents 

    Application for full time and part time Master's programs at Kozminski University must include:

    • application form - complete the form online, print and sign
    • original Bachelor/Master degree diploma or notarized copy and transcript of records
    • 1 signed passport photograph
    • copy of the national ID or a passport 
    • CV in English
    • at least one reference letter
    • proof of payment of the admission fee (non-refundable)
    • certificate confirming proficiency in English (unless the high school/university courses were taught in English) - e.g. FCE, CAE, CPE, BEC, CEIBT issued by the University of Cambridge; IELTS (>=6.0 points); TOEFL IBT (>=87 points); TOEIC (at least 700 points from the test); LCCI (English for Business level 2, 3, 4); London Test of English certificates (PEARSON) - level 3, 4, 5 (certificates Edexcel). 
    • Polish citizens citizens who did their previous studies in English or who scored at least 95% on the basic level or 80% in the extended level from English Language at the Polish Matura or successfully went through the interview, can be excluded from submitting an English proficiency certificate. 
      List of documents confirming the knowledge of English language (pdf)

    Foreigners are additionally required to submit:

    • copy of a valid visa or the residence permit
    • medical certificate
    • health and accident insurance

    All documents issued in foreign languages should be translated into Polish or English by a sworn translator.

    The admission fee for all programs delivered in English is 750 PLN.
    Payment of the admission fee should be made to  the following bank account:

    Name of the bank: Pekao S.A. II o/Warszawa
    Address: Grzybowska 53/57,  Warszawa
    Bank account number: 20 1240 1024 1111 0010 1646 0637
    SWIFT code: PKOPPLPW
    IBAN: PL

    Candidates from foreign countries 

    Foreigners who need a visa to study in Poland are additionally required to make payment of tuition for one full year of studies before we can issue documents necessary in the visa application process i.e. invitation to come to Poland and the admission decision. Admission commission issues a conditional acceptance letter including individual account number to which the payment should be transferred in Polish Złoty (PLN) calculated according to the exchange rates of the National Bank of Poland (www.nbp.pl). In case the candidate is denied a visa tuition is returned. Admission fee is non-refundable.

    In case of visa, accommodations and other daily issues please contact our Students Support and Service Center: studentsupport@kozminski.edu.pl

    Step-by-step admission procedures 

    1

    Register on-line

    The admission form is available online or at the Admissions Office. 

    Admission online 

    Transfer from another university 


     

    2

    Make payment of the admission fee

    The admission fee should be transferred to the Kozminski University bank account or made through the platnosci.pl system available after completing the online application form.

    3

    Submit your application

    All of the required documents should be submitted in the Admissions Office (in person or via regular post).

     

     

    4

    Qualification interview

    Participation in the qualification interview is required in case of Polish candidates who choose a Master program in different field from the one which they studies in the Bachelor program.

    5

    Admission decision

    The decision is issued on the day of submission of the application (if documents submitted in person) or within ten working days (if documents submitted via regular post).



    6

    Signing of the contract

    The final step of the admission process is signing the agreement.




     

     

    Tuition and fees 

    Master's Program in Finance and Accounting (full-time)

    Tuition per semester when paid in full 8900 PLN 2106 EUR* 2402 USD*
    Tuition per semester in 5 installments 5 x 1800 PLN 5 x 426 EUR* 5 x 486 USD*
    Admission fee 750 PLN 178 EUR* 203 USD*

    Master's Program in Finance and Accounting (part-time)

    Tuition per semester when paid in full 7100 PLN 1680 EUR* 1916 USD*
    Tuition per semester in 5 installments 5 x 1440 PLN 5 x 341 EUR* 5 x 389 USD*
    Admission fee 750 PLN 178 EUR* 203 USD*


    * Exchange rates according to NBP table of 2017-07-03: 1 EUR = 4,2265 PLN, 1 USD = 3,7062 PLN
    PRICES IN PLN ARE APPLIED. If you pay in EURO or USD please note that payments in EUR and USD are recalculated into PLN according to the exchange rate of Millennium Bank based on the day of receipt of payment to the Kozminski University bank account. Check current exchange rate.

    Contact 


    Dana Duda
    +48 22 519 22 69
    danaduda@kozminski.edu.pl