Financial Management

SEMESTER 1

1. GENERAL COURSES (6,5 ECTS): 

METHODOLOGY OF STUDYING (0,5 ECTS)

• FOREIGN LANGUAGE I - BUSINESS ENGLISH (3 ECTS): This course provides participants with the skills to effectively address financial challenges in a foreign language, striving for a B2+ proficiency level in economics and finance communication. Students will specifically develop expertise in recognizing business-related issues, creating professional documents, and constructing compelling arguments.
• FOREIGN LANGUAGE II - GERMAN/POLISH/SPANISH/CHINESE/FRENCH/PORTUGUESE (3 ECTS): This course equips participants with a foundational understanding of key business finance terminology. Students learn to compose coherent short texts in a foreign language, incorporating information from various sources while maintaining proper structure. Additionally, they develop the ability to deliver accurate short presentations on elementary finance topics in a foreign language.

2. CORE COURSES (24 ECTS):

• PRINCIPLES OF MANAGEMENT    (4,5 ECTS):  This course provides an understanding of organizational dynamics, focusing on the organization as a socio-technical system. It covers essential management and quality science theories, exploring key factors influencing business. Topics include roles of entrepreneurs, managers and leaders, with an emphasis on the entrepreneurial process and social entrepreneurship. Participants develop skills to analyse a company's environment, utilizing analytical tools for effective assessment of organizational processes.
• PREPARING FINANCIAL STATEMENTS (5 ECTS): This course provides a clear understanding of accounting in the social and economic system. Students learn the basics of financial reporting, gaining practical skills to choose information sources, use analytical tools, prepare financial reports, and present compelling arguments supported by relevant data.
• INTRODUCTION TO ORGANISATIONAL BEHAVIOUR (4 ECTS): This course provides an overview of key organizational behaviour theories, such as motivation, team building, organizational justice and learning. Students learn to prioritize and set objectives for improved organizational performance. Participants gain skills in initiating changes, decision-making for continuous learning, teamwork collaboration and conflict management. Additionally, students develop the ability to delegate tasks, identify areas for organizational learning enhancement, and manage teams effectively and ethically.
• MICROECONOMICS (5 ECTS): This course explores microeconomics with a focus on the financial sector's role in business financing. It covers the influence of entrepreneurs on a company's economic profile and market advantage. Participants learn to analyse diverse market structures and communicate effectively about company and market-related issues using evidence-based arguments.
• QUANTITATIVE METHODS  (5 ECTS): This course provides essential mathematical tools for financial and accounting modelling, emphasizing the connection between mathematically defined parameters in the business environment. Participants gain the skills to define and solve business problems using mathematical tools, select relevant information sources, and apply basic analytical tools to analyse uncertain business situations, including investment perspectives. The course also fosters the ability to independently recognize the limitations of quantitative methods and address knowledge gaps.

SEMESTER 2

1. GENERAL COURSES (6 ECTS):

FOREIGN LANGUAGE I - BUSINESS ENGLISH (3 ECTS): During the course, participants develop the skills to identify and address financial issues in a foreign language. They attain B2+ proficiency in economics and finance, mastering specialist terminology and the creation of professional documents. The program emphasizes the ability to lead, collaborate, and communicate effectively in international teams, defining and implementing tasks collaboratively.

FOREIGN LANGUAGE II - GERMAN/POLISH/SPANISH/CHINESE/FRENCH/PORTUGUESE (3 ECTS): Throughout the course, participants gain knowledge of essential business finance terminology. They cultivate the ability to craft clear and concise texts in a foreign language, utilizing diverse sources while maintaining proper form and structure. Additionally, they develop skills to deliver precise short presentations on elementary finance concepts in a foreign language.

2. CORE COURSES (24 ECTS): 

• Quantitative Methods II (5 ECTS): During the course, participants acquire essential knowledge of mathematical tools for finance and accounting, emphasizing the connection between mathematically described parameters in the business environment. They gain insights into multivariable calculus, enabling them to model uncertainty in intertemporal decisions. Participants develop skills in selecting information sources and using analytical tools for efficient decision-making through mathematical analysis of business data. The course also enhances their ability to interpret economic models of intertemporal decision-making for diverse agents under uncertainty.
• Macroeconomics (5 ECTS): Throughout the course, participants gain current insights into national economic operations and understand how macroeconomic variables impact business situations. They develop the skills to efficiently use professional materials and data sources to gather macroeconomic information and integrate it into the company's financial management. Furthermore, participants improve their ability to engage in professional discussions on macroeconomic issues.
• Corporate and Business Law (4 ECTS): Throughout the course, participants gain a thorough understanding of fundamental legal concepts, including contractual obligations and representation. They develop practical knowledge in applying these concepts to managerial scenarios, addressing issues like NDAs, LOIs, and preliminary agreements. The program equips them with the ability to make informed managerial decisions, integrating economic and legal analyses while emphasizing professional ethics in solving legal problems in international business transactions.
• Financial Accounting (5 ECTS): Throughout the course, students will acquire in-depth knowledge in the application of accounting standards and the theoretical framework for preparing and evaluating financial statements of entities, including groups. They will develop skills in applying regulatory and technical aspects of financial accounting and external reporting for entities. The subject aims to enhance social competences, enabling students to effectively communicate reliable and meaningful financial information to stakeholders.
• Principles of Finance (5 ECTS): Throughout the course, participants gain comprehensive knowledge in finance, with a focus on understanding the role of financial markets and instruments in the market economy, as well as their impact on company development. They develop the ability to select information sources judiciously and employ basic analytical tools and models to analyse financial instruments, their application in capital raising, and their investment risk. The subject emphasizes the consideration of ethical and regulatory norms associated with operating and investing in financial markets, preparing participants for responsible decision-making.

SEMESTER 3

1. GENERAL COURSES (5 ECTS):   

• FOREIGN LANGUAGE II - GERMAN/POLISH/SPANISH/CHINESE/FRENCH/PORTUGUESE (3 ECTS): Throughout the course, participants acquire knowledge of fundamental business finance terminology. They develop the skills to prepare concise texts in a foreign language, utilizing various sources while maintaining proper form and structure. The subject improve their ability to prepare and deliver accurate short presentations on elementary aspects of finance in a foreign language. Participants also cultivate effective collaboration and communication skills within international teams, using a foreign language.
• SPORTS - more information HERE.
• PRINCIPLES OF PHILOSOPHY AND ETHICS IN BUSINESS  (2 ECTS): This course covers ethical, social and environmental factors influencing business, emphasizing financial institutions' relationships with stakeholders. Participants learn to communicate in finance terminology, articulate ethical arguments, and consider ESG norms in analysis and reporting. The course prepares participants for finance and accounting roles with a focus on professionalism, ethics, responsibility and sustainability.

2. CORE COURSES (4 ECTS):

• STATISTICS (4 ECTS): In this course, participants gain knowledge of organizing and summarizing economic and financial quantitative data, along with the ability to choose appropriate analysis methods. They develop skills to accurately present numerical data, distinguish relevant charts and tables, and define research problems suitable for quantitative analysis. The course also equips participants to interpret information in statistical reports, use computer software for data analysis and effectively communicate results for business purposes.

3. MAJOR COURSES COMMON TO ALL MODULES (30 ECTS):

Financial and Tax Reporting (5 ECTS): This subject provides specialized knowledge in accounting and finance, particularly focusing on the reporting of financial information for individual companies and groups, in accordance with generally accepted accounting principles and relevant standards such as IFRS (International Financial Reporting Standards). Participants gain a deep understanding of the regulatory system, including the conceptual framework for financial reporting. This encompasses qualitative characteristics and fundamental accounting bases, ensuring clarity and compliance in financial reporting practices.

Managerial Accounting (5 ECTS): This subject equips participants with expertise in management accounting and finance, with a specific focus on acquiring knowledge and understanding of management accounting techniques. These techniques are essential for supporting management in planning, controlling, and monitoring performance across diverse business contexts. Additionally, participants gain insights into the conditions, including behavioural aspects, and limitations associated with cost accounting and costing techniques. This comprehensive understanding is crucial for individuals aspiring to excel in the role of a management accountant.

Corporate Finance I (5 ECTS): This course imparts essential knowledge in working capital management techniques, investment project appraisal methods, key factors influencing short-term corporate financing decisions, determinants of the cost of capital and methods for assessing the financial condition of companies. Participants also acquire the ability to identify and define financial processes within companies, enabling them to optimize the financial structure of businesses. Through this course, individuals gain a well-rounded understanding of crucial financial aspects, empowering them to make informed decisions and contribute to the financial optimization of companies.

Startups and Business Plan (3 ECTS): This course provides insight into the role of entrepreneurs and the development process of a comprehensive start-up concept. Participants gain knowledge of approaches and limitations in preparing financial forecasts tailored to start-up conditions, encompassing social entrepreneurship ventures. Through this course, individuals acquire a nuanced understanding of entrepreneurial dynamics, enabling them to navigate the challenges and opportunities associated with start-ups, including those in the realm of social entrepreneurship.

Professional trends and qualification in finance (3 ECTS): This course provides an overview of current professional trends in corporate finance, reporting and accounting, sustainable finance, fintech and digital transformation. Participants gain valuable insights into the interrelationships between these disciplines, fostering a holistic understanding of the dynamic financial landscape. This knowledge equips individuals to stay informed about industry trends and navigate the interconnected nature of various professional qualifications in the field.

SEMESTER 4

1. MAJOR COURSES COMMON TO ALL MODULES (30 ECTS):

• Business Simulation Games (3 ECTS): In this course, participants engage in a simulation game to grasp diverse management aspects, including marketing, distribution, human resources and finance. Key tasks involve written assignments and final presentations, demanding precise analysis and effective communication. The game is team-based, requiring each member to play a specific role in planning, communicating, and executing strategic decisions with the board. Success in each round and assignment relies on applying knowledge accumulated in previous semesters.
• Corporate Finance II (4 ECTS): In this course, participants delve into key elements of corporate finance, covering IPOs, SPOs, private placements, investments and M&A transactions. The curriculum ensures a thorough grasp of market dynamics, legal regulations and stakeholder influences. Special attention is given to mastering financial analysis techniques for making informed decisions in uncertain scenarios. Participants also gain skills to address challenges in company financials, such as credit risk appraisal and corporate distress.
• Econometrics and Research Methods (4 ECTS): This course provides a comprehensive understanding of econometric modeling principles from both theoretical and practical perspectives. Students learn to identify, select and evaluate appropriate econometric methodologies for solving diverse business problems. Practical skills include building, estimating, and evaluating econometric models for selected business issues. Additionally, students develop the skills to formulate business problems quantitatively and effectively use computer software for econometric modeling.
• VBA in Finance and Accounting (3 ECTS): In this course, participants will become proficient in advanced financial data collection and analysis through VBA programming. The curriculum emphasizes understanding financial statements, project evaluation models and VBA macros. Participants will learn to select information sources judiciously, choose suitable analytical tools and use the VBA editor to write macros for solving predefined problems.
• Auditing and Management Control (5 ECTS): In this course, participants will explore the audit profession, regulatory frameworks and ethical considerations. Topics include corporate governance regulations, board responsibilities, client engagement, internal audit processes and risk assessment. The curriculum covers audit techniques, evidence gathering and the completion of audits, with a focus on preparing comprehensive reports. Special emphasis is placed on preventing fraud, criminal behavior, corruption and money laundering in the audit profession.
• Performance Management (4 ECTS): This course equips students with the knowledge and skills needed to apply management accounting techniques for both quantitative and qualitative assessments. It emphasizes creating a solid foundation for planning, decision-making and evaluating organizational performance. Students will master performance measurement systems to control costs and enhance business performance.
• Financial Markets (5 ECTS): In this course, participants will explore the concept of financial markets, examining sources of information and the organizational dynamics at play. The curriculum covers financial market instruments and equips participants with skills for analyzing and predicting the behavior of these instruments. Special emphasis is placed on understanding the intersection of financial markets with the principles of sustainable development, as well as the intricate interactions between global and local financial markets. Additionally, the course addresses critical aspects such as investor relations, information asymmetry challenges and the potential threats of dehumanization in investment processes due to technological progress.
• Investments and Funds Operations (2 ECTS): This course provides a thorough understanding of custodian bank operations, covering roles in front office, middle office, custody and various investments. It explores fund types, legal forms, and directives, including UCITS (Undertakings for the Collective Investment in Transferable Securities), AIFMD (Alternative Investment Fund Managers Directive), mutual funds, hedge funds, private equity funds, real estate funds and ETFs (Exchange-Traded Funds). Key topics include fund accounting, equities, bonds, and derivatives, with a focus on valuation methods. The curriculum also addresses events on equities and bonds, fund valuation and compliance with regulatory frameworks such as EMIR (European Market Infrastructure Regulation), AIFMD, UCITS, PRIIPS (Packaged Retail and Insurance-based Investment Products) and MiFID (Markets in Financial Instruments Directive).

SEMESTER 5

INTERNSHIP (6 ECTS): 

• Career support - more information HERE.

1. ELECTIVE COURSES (24 ECTS):

• Professional trends and qualification in finance (3 ECTS)
• Option I: Elective Courses (21 ECTS)
• Option 2: Extended Internship - minimum 12 weeks long* (27 ECTS)

SEMESTER 6

1. MAJOR COURSES COMMON TO ALL MODULES (17 ECTS):

• VALUATION & VALUE BASED MANAGEMENT (6 ECTS):  This course explores value and enterprise valuation standards, covering business valuation, shareholder protection, and cash flow forecast preparation. Participants learn income-based valuation methods, estimating cost of capital and addressing issues like pro forma financial statements. The course also covers corporate valuation for IPOs (Initial Public Offerings), SPOs (Secondary Public Offerings), and private placements, as well as topics like illiquid investments, distressed securities, synergies in mergers and acquisitions, and value-based management strategies. It concludes with insights into stock performance, investor relations, external communication, corporate branding and corporate social responsibility (CSR).
• BUSINESS STRATEGY PLANNING (3 ECTS): During the course, participants get an introduction to business strategy, covering strategic choice, corporate, and business-level strategies. The curriculum includes operations strategy formulation with a focus on planning, implementation, and feedback loops. Strategic analysis involves considering the organization and its environment, exploring objectives with tools like the balanced scorecard and triple bottom line. Topics include the efficient frontier, comparing best practices, and a continuous improvement framework. The course also addresses key factors and challenges in strategy implementation, along with approaches, techniques and feedback mechanisms for improvement.
• DIPLOMA WORKSHOP (8 ECTS): During the workshop, students will develop a comprehensive understanding of the interrelations between Economics & Finance, Law and Management disciplines. The curriculum covers key notions and concepts underpinning these areas, fostering familiarity with analytical techniques to evaluate the effectiveness of managerial decisions impacting financial conditions and market positions of economic entities. Additionally, the course equips participants with the ability to analyse interrelations between internal finance and accounting processes within economic entities and their external environment. They will also learn to apply analytical techniques to evaluate the impact of external events on an entity's financial situation.

2. MAJOR COURSES FOR THE MODULE IN FINANCIAL MANAGEMENT (13 ECTS):

• FINANCIAL DATA ANALYTICS (3 ECTS): In this course, participants will learn diverse methods of collecting data from online sources, including manual download, automated approaches like building APIs, web scraping and Excel queries. The curriculum covers downloading financial data from publicly-available sources, presenting data through charts and tables, and processing it manually in Excel or using automated scripts. Participants will also explore financial data clean-up, handling missing observations, outliers and inconsistencies. The course addresses using moving averages, understanding data frequency, standardization, normalization, and analysing time series, outliers and correlations between datasets. The curriculum concludes with discussions on managing multicollinearity through factor analysis and treating seasonality in the data.
• BANKING (4 ECTS): In this course, participants will explore key aspects of banking, beginning with an introduction to money as the foundational instrument in the banking system. The curriculum covers the history and determinants of the money supply, model banking systems in market economies, and an overview of investment banking and universal banking in the EU. Participants will also gain insights into the Islamic banking system, the structure of banking systems, and the roles of central banks, supervisory authorities, and guarantee systems. The course addresses various types of banking institutions, rules for their creation, and their activities, corporate governance, and main services provided. Additional topics include assets and liabilities management, risk management, product and service governance, measures of business effectiveness, and the role of banks in the global financial system. The course concludes with discussions on banking crises, bank runs, and the dynamics of global banking.
• FINANCIAL STATEMENT ANALYSIS (4 ECTS): In this course, participants will gain a profound understanding of business models through strategy analysis, utilizing financial statements as a data source with accounting analysis. The curriculum covers standardized financial statements and the implementation of accounting adjustments for further analysis. Participants will engage in financial analysis through ratios and peer group comparisons, explore cash flow analysis for assessing earnings quality, and apply analysis techniques to support decision-making, including argument development, scenario analysis, and conflict of interest considerations. The course also encompasses forecasting performance and financial standing, investment appraisal, equity valuation and financial analysis for credit decisions, emphasizing conflict of interest scenarios throughout.
• EXPERT LAB FOR PE, INVESTMENT BANKING AND STRATEGIC CONSULTING (2 ECTS): In this course, participants will explore contemporary practices in Private Equity (PE) and Investment Banking, delving into the strategic consulting field. The curriculum is enriched with real-life case studies covering various domains such as Private Equity, Venture Capital, Restructuring, IPOs and M&A. Through these case studies, participants will gain practical insights and hands-on experience in navigating the intricacies of these critical areas in the financial landscape.

3. MAJOR COURSES FOR THE MODULE IN GREEN FINANCE (13 ECTS):

• FUNDAMENTALS OF SUSTAINABLE FINANCE (3 ECTS): During this course, participants will receive an introduction to sustainable finance, exploring the intersections of sustainability, ESG (Environmental, Social and Governance), CRS (Corporate Social Responsibility) and finance. The curriculum delves into the pivotal role of finance in addressing climate change and covers principles guiding investments and financing in sustainable finance. Participants will examine various sustainable finance products and engage in best practices for adopting solutions that align with sustainable finance principles.
• ESG MANAGEMENT AND REPORTING (4 ECTS): In this course, participants will be introduced to Environmental, Social and Governance (ESG) Risk Management, exploring key challenges in sustainable finance. The curriculum covers the sustainability reporting landscape, guiding participants in developing organizational reporting strategies and reflecting sustainability impacts in financial statements. Participants will learn narrative reporting techniques for enhanced transparency to investors, including determining materiality. The course also delves into external review and assurance processes for sustainability disclosures, providing a comprehensive understanding of ESG considerations in financial management.
• SUSTAINABLE FINANCIAL MANAGEMENT (4 ECTS): During this course, participants will explore the intersection of sustainable finance and the challenges of transition. The curriculum delves into the concepts of externalities and internalization, examining ESG considerations through the lens of the CFA (Chartered Financial Analyst) framework. Participants will analyse changing business models and engage with integrated reporting, metrics and data in the context of sustainable finance. The course also covers various aspects, including financing sustainability, sustainable investing, evolving forms of banking and lending, long-term risk management and the intricacies of transition management in the financial landscape.
• EXPERT LAB FOR GREEN FINANCE (2 ECTS): In this course, participants will gain knowledge of the conditions, behavioural aspects, and limitations in utilizing national and international regulations for financial data analysis in the context of sustainable finance. The curriculum emphasizes real-life cases to enhance practical understanding. Participants will learn to select appropriate information sources and use analytical tools, including financial/accounting IT systems, to recognize, analyse and forecast the financial effects of economic phenomena. The course promotes collaborative skills within a team, emphasizing task definition and execution in group settings. Additionally, participants will be prepared to undertake professional roles in finance and accounting, with a focus on social economy entities and a strong emphasis on professional ethics.

4. MAJOR COURSES FOR THE MODULE IN FINTECH AND DIGITAL TRANSFORMATION IN FINANCE (13 ECTS):

• FUNDAMENTALS OF FINTECH (3 ECTS): This subject provides comprehensive knowledge of the regulatory, ethical, social, environmental, economic, technological and financial factors essential for understanding fintech business. It covers rules related to the protection of industrial and intellectual property rights. Students develop the ability to communicate effectively using specialized terminology in economics and fintech, creating professional business documents and formulating arguments in discussions. The course prepares individuals to critically assess their knowledge and incorporate expert insights when analysing fintech aspects of business operations.
• FINTECH BUSINESS MODELS (4 ECTS): This subject covers essential aspects of fintech, including a brief history of financial innovation, digitalization of financial services, fintech's role in funds, ICOs (Initial Coin Offerings), P2P (Peer-to-Peer) lending, contextual banking, and the latest industry trends. Participants explore the fintech regulatory ecosystem, sustainability implications, and competitive strategies for the future. The course culminates in industry showcases, offering practical insights into real-world applications. Prepare to navigate and excel in the dynamic fintech landscape with this comprehensive module.
• DIGITAL TRANSFORMATION MANAGEMENT IN FINANCE (4 ECTS): This subject explores fintech's transformative impact, covering disruptions in banking, major risks in digital transformation, the role of AI and machine learning, the potential of blockchain and cryptocurrency, best practices for fintech adoption and the journey from idea to implementation. Participants gain insights from industry showcases, preparing them to navigate and apply fintech innovations effectively in real-world scenarios.
• EXPERT LAB FOR FINTECH AND DIGITAL TRANSFORMATION (2 ECTS): The lab provides a thorough examination of the current trends and opportunities in the industry. Participants actively analyse real-world case studies, delving into FinTech mega trends and emerging opportunities. The module also offers insights into the changing landscape of FinTech within the European Union and presents diverse career paths within the field. This interactive lab ensures participants acquire practical knowledge and a forward-looking perspective, positioning them for success in the dynamic realms of FinTech and digital transformation.