Master in Finance and Accounting 2-year program

Watch the film about the program 

About the program 

Students who choose the full-time mode (full-time studies) have the possibility to take up studies either in the traditional form on the spot at the university, or in an online venue for the duration of the first semester (this is especially beneficial for international candidates).

All students who choose the Master in Finance & Accounting program (full-time or part-time mode) can be sure that the first semester of the program is ONLINE ready, if the university will not be able to conduct the classes onsite, then they will be transferred to a virtual environment.

Feel invited to join the newly formed Facebook group for candidates of the program.

  • In 2020 Kozminski University was ranked 20th 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.
  • Graduates of the program benefit from exemptions from most of the papers on the Applied Knowledge and Applied Skills level ACCA Qualification (AB, MA, FA, LW, PM, FR, FM; additionally students from the majors in Corporate Reporting and Accounting are exempted from TX and AA) and can expect to have a wide range of career opportunities in all areas of business.
  • Kozminski University is an academic partner of the CAIA Association.Becoming a partner of the CAIA Association, a global network of more than 9,000 alternative investment professionals located in more than 90 countries, gives our students access to CAIA's vast databases and the possibility to get a special scholarship.
  • Kozminski University is an academic partner of GARP (Global Association of Risk Professionals), which is currently the leading professional association for risk managers, dedicated to the advancement of the risk profession through education, research and the promotion of best practices globally. By virtue of covering at least 70% of the body of knowledge of the Financial Risk Manager (FRM®) examination. More information here.
  • 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.
  • Starting from October 2019, students will benefit from a financial laboratory based on Bloomberg’s technology. They will have access to the full service and additional educational functions of the largest news agency in the world, specializing in providing financial information.Thanks to this solution, the learning process will be based on real analyses, indicators and information from all financial markets in the world.
    During the COVID-19 pandemic, students of our University can use the content of Bloomberg free of charge. The free subscription is available for three months from April 22nd to July 31st. Interested students will be able to use it on their computers and on their mobile phones.
    More information
  • Graduates receive a Master in Finance and Accounting diploma. Additionally they get a diploma's supplement stating which major the student finished.
  • 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 Europe PLC, Accenture Services Ltd, KPMG and Santander Investment Bank. 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

       

Double Degree Programs 

During the course of study, students of the Master in Finance and Accounting Program have the opportunity to go on their second year to one of our partner universities for a so-called double degree program, thanks to which they will receive not only the diploma of Kozminski University, but also from our partner university!

Click on the logo of a partner institution to get more information on your university of interest.

Available Double Degree Programs on the Master in Finance and Accounting studies:





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 major in International Banking, 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.
In 2017 once more the KU Team won the CFA Resarch Challenge in Poland, this time they bested 25 Polish universities and went on representing us in the EMEA Finals in Dublin.


The 2017 KU Team consisted of: Tim-Christian Knapp, Uma Shah, Judith Achterfeld & Taras Datsenkohas.

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
  • 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.  

Majors* 

 

       

 

 

  • Corporate Finance

The major 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 major in Corporate Finance 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.

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.


Mateusz Kacprzak - Managing Director, Head of Investment Banking, Santander Bank Polska SA:

In Santander, we strongly believe that the capital markets are created by people so the future of the Polish capital market depends on young generation entering the labour market. Being one of the most active investment banking advisor in Poland, we would like to share our practical expertise and experience in M&A and ECM fields with students. I have no doubts that Kozminski University is a great place to gain necessary background which will prepare future investment bankers to their professional careers. Myself included, as I am proud to be an MBA graduate at KU.

  • Corporate Reporting and Accounting - ACCA track

    Watch a video about the major here!

The major 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 majors in ‘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 - track with Citibank

Qualified professionals are in high demand as banking institutions increase their focus on risk prevention and stable yields. Regulatory requirements are constantly evolving, forcing the financial sector to continuously improve its response systems. Recognizing the growing development opportunities offered by the financial industry, Kozminski University and Citi Service Center Poland established strategic partnership aimed at training learning skills and competencies necessary to successfully work in the field of finance.
Students are familiarized with the general framework of bank operations, compliance and crime prevention, bank management issues, as well as with financial innovation and Fintech trends. Classes are conducted by senior managers and subject matter experts from Citibank. The best students of the major will be invited to summer internship program at Citi Service Center Poland.



Karol Wojtczak, Global FIU Procedures & Trainings, Regional EMEA Head, Citibank:

    International banking business has been rapidly growing for over a decade and made Citi Service Center in Warsaw, Poland one of the fast growing hubs and one of the best employers. Such a healthy growth demands for academia-business partnership to address viable theoretical fundamentals & practical solutions.  Kozminski University is an important element contributing to our competitive advantage. The major in International Banking co-delivered with Citibank experts enables students to start an attractive and rewarding career path.

     

     

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

    Timeline of the studies 

    • Advanced Corporate Finance
    • Corporate Financial Reporting
    • Quantitative and Qualitative Research Methods
    • Communication and Negotiation Skills
    • Advanced Macroeconomics
    • Big Data Analysis
    • Modern Banking Systems
    • Career Track Seminar

     

     

     


    • Application of Statistics and Econometrics in Finance and Accounting
    • Corporate Valuation and Fundamental Analysis
    • Advanced Financial Reporting
    • Advanced Management Accounting
    • Financial Instruments and Financial Risk Management
    • Advanced SQL
    • Ethical Issues in Finance and Accounting
    • Psychology of Financial Markets
    • Dissertation Seminar
     
    • Mergers and Acquisitions
    • Corporate Governance and Control
    • Programming in Finance
    • Dissertation Seminar

     

     

     


    Choose one of the three available majors:

    • Corporate Finance (CFA Track)
    • Corporate Reporting (ACCA Track)
    • International Banking

    • Dissertation Seminar
    • Three Financial Electives

     

     

     

    Choose either:

    1. Electives for 8 ECTS at KU or
    2. An 8 week long internship
    International Mobility Window: students are encouraged to participate in an international exchange (without any course differences)

     


    Exchange Program
    Spend one semester in one of our 200 partner universities.

    Double Degree Program
    Spend one or two semesters in one of our partner institution and obtain a second degree.

    Take the next step!

    Joining the Master in Finance and Accounting program you can be sure we took care of your successful career path in the future.

    You can continue your learning journey on higher levels, thus upgrading cutting-edge knowledge and competitive skills highly valued in financial industry and corporate world.

    More information

    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 full-time and part-time Master programs at Kozminski University is based on 2 criteria: GPA on your previous studies and results of an online entry test. Maximum score is 100 points - 50 points for the test and 50 for GPA. Candidates who scored at least 60 points from both criteria will be qualified to the program.

    Entry Test

    The entry test is scheduled for 40 minutes and is meant to check the background of the candidate, analytical and logical thinking skills, as well as, possession of basic knowledge in the field, corresponding to the knowledge a Business-related Bachelor alumni should possess. Test is composed of 25 close-ended questions - 10 quantitative questions, 10 on general knowledge and current world situation and 5 on specialized knowledge in Business.

    Scholarship

    Candidates for full-time program, who have achieved at least 80% of the points from the entry test will have the possibility to apply for the "Scholarship for the Best Candidates".
    The awarded candidates are chosen based on a ranking system.
    Only application submitted until August 20th will be considered for the scholarship. The candidates, who were granted a scholarship will be informed about it at the latest on August 31st.

    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
    • proof of payment of the admission fee (non-refundable)
    • certificate confirming proficiency in English (you can be exempted from submitting an English proficiency certificate only if your High School Diploma confirms that English was your only language of instruction or English is your mother tongue) - 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 can be excluded from submitting an English proficiency certificate. 
      List of documents confirming the knowledge of English language (pdf)

    Double Degree Master in Finance and Accounting with University of Porto: The same language requirements apply for Double Degree Program with Porto University

    Double Degree Master in Finance and Accounting with ESSCA - School of Management: Language requirements for Double Degree Program with ESSCA: TOEFL (550), TOEIC (800), IELTS (6.5)

    Double Degree Master in Finance and Accounting with SKEMA Business School: Language requirements for Double Degree Program with SKEMA: TOEFL (570 ITP, 88 iBT), TOEIC (870), IELTS 7

    All documents issued in foreign languages should be translated into Polish or English by a sworn translator. We process applications from 4th of February until August (applications from non EU-citizens) and from 4th of February until the end of September (applications from EU-citizens). Applications received afterwards will be kept on file and processed within the next application period.

    ATTENTION! In accordance with the recommendations of Ministry of Health of Republic of Poland, concerning the prevention of Coronavirus spread, the Admission Office will work in online mode from 16.03.2020 until further notice. The employees of Admission Office are available during the office hours (8:30 - 16:30) via e-mail (admission@kozminski.edu.pl) or by calling +48 22 519 22 69. In case of emergencies there is the possibility to schedule an individual meeting with the employees.

    The admission fee for all Master programs delivered in English is 100 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

    Entry test

    Participation in online entry test is required for all candidates. Candidates are enrolled to the test after the application is reviewed and accepted by the Admission Committee.

    5

    Admission decision

    The decision is issued in few working days after the test is cleared. Candidates who obtained at least 60 points from both admission criteria are qualified for program.



    6

    Signing of the contract

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




     

     

    Tuition and fees 

    First year students of the programs conducted in English will be able to obtain a scholarship for one year of 7 500 PLN. The scholarship is provided monthly, as 10 deductions of 750 PLN from the tuition fee amount. More information on how to obtain the scholarship you can find by clicking the above banner.

    First year students of the Master in Finance & Accounting program will be able to obtain a scholarship for one year of 6 000 PLN. The scholarship is provided monthly, as 10 deductions of 600 PLN from the tuition fee amount. More information on how to obtain the scholarship you can find by clicking the above banner.

    Polish National Agency for Academic Exchange announced second edition of Scholarship Programme addressed to foreign Master programs applicants. More information and contact details here.

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

    I year - tuition per semester II year - tuition per semester
    Tuition per semester paid in full (PLN)
    11 900 PLN 12 500 PLN
    Tuition per semester in 5 installments (PLN)
    5 x 2 400 PLN 5 x 2 520 PLN

    Tuition per semester paid in full (EUR)
    2770 EUR* 2910 EUR*
    Tuition per semester in 5 installments (EUR*)
    5 x 560 EUR* 5 x 590 EUR*

    Admission fee: 100 PLN / 24 EUR*

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

    I year - tuition per semester II year - tuition per semester
    Tuition per semester paid in full (PLN)
    9 400 PLN 9 900 PLN
    Tuition per semester in 5 installments (PLN)
    5 x 1 900 PLN 5 x 2 000 PLN

    Tuition per semester paid in full (EUR)
    2 190 EUR* 2 310 EUR*
    Tuition per semester in 5 installments (EUR*)
    5 x 450 EUR* 5 x 470 EUR*

    Admission fee: 100 PLN / 24 EUR*


    * Exchange rates according to NBP table of 2020-02-03: 1 EUR = 4,301 PLN
    PRICES IN PLN ARE APPLIED. If you pay in EURO please note that payments in EUR 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.