Accounting and Finance
MSc Accounting, Auditing and Control

Study programme

The combination of financial accounting, management control and finance offers an all-round perspective on financial issues. You will study a wide range of topics in courses and seminars and examine issues from a both practical and analytical point of view.

The core courses help you to get acquainted with a wide range of topics that are essential for accounting and finance and provide a solid background for attending the seminars.

The seminars are important components of the MSc programme. For these intensive courses, active participation and commitment are mandatory. You will be expected to write and present several papers, present aspects of the literature or case applications, ask questions, mention doubts and express ideas in class discussions. There will also be group assignments. The seminars provide an excellent foundation for your master’s thesis.

The fifth and final block of the programme is devoted to the master’s thesis. You will work on your thesis individually, under close supervision by a member of our academic staff.

Disclaimer
The overview below shows the preliminary programme curriculum for the new academic year. Current students can find their schedules in MyEUR

  • Block 1

    • The Take-Off is the introduction event for all new students of Erasmus School of Economics. During this interesting introduction event, you will be provided with useful practical information and receive an introduction to your studies, meet your fellow students and our School.

      • Introduction to empirical research
      • From research idea to research question
      • Theory and hypotheses
      • Framing your research: Predictive validity framework
      • The importance of research design
      • Econometrics in accounting research
      • Experiments versus observational studies
      • Causality
      • Data collection
    • The course focuses on understanding complex financial reporting issues such as business combinations, consolidation, foreign currencies, hedge accounting and financial instruments.

    • The electives represent a choice of supplementary but fascinating academic views from the specialisation that you have chosen.

      Students choose one course (4 cr) from the courses listed below.

    Block 2

    • The main objectives of this course are that students should understand the differences between a spreadsheet application, specific statistical software, and general purpose languages, and how to use them. Focus will be on programming in R, and to a lesser extent, Python, Stata and Excel. This course is taught on the basis of learning by doing: students learn about the specifics of the programming language (interfaces, data types, basic syntax etc.) `on the run’.

    • Corporate governance analyzes two conflicts of interest that arise in the financing of the firm.

      • The first is the conflict between shareholders and the firm's management.
      • The second conflict of interest emerges between controlling shareholder and minority shareholders.

      Against this background, we will discuss corporate governance laws and codes, the role and composition of the board of directors, executive compensation, the design of financial securities, mergers and acquisitions, and shareholder activism.

    Block 3

    • This course is about doing the right thing while practicing professional accounting.

    • This course introduces students to data science. The course familiarizes students with the data science methodology and understanding the difference between inference, prediction and description and where these are useful/applicable. It further discusses and practices data handling skills (acquisition, storage, processing and analysis), interpretation and presentation of results and the basic concepts of machine learning.

    Block 4

      • Earnings quality and cash flows versus accruals
      • Creating condensed financial statements
      • Forecasting of future firm performance
      • Equity Valuation (Residual Income Valuation)
      • Financial analysis
    • This course introduces students to empirical financial accounting research topics, such as the capital market implications of accounting information, earnings properties and voluntary disclosures. The course will familiarize students with topics that are commonly studied in accounting research, teach them how to develop a research question based on sound argumentation and how to investigate this question.

    Block 5

    • The thesis is the crown on your Master’s degree programme.

      The final block of the programme is especially devoted to the Master’s thesis. The thesis is written individually under close supervision by one of our academic staff members. The seminar courses prepare you for writing the Master’s thesis and help you in selecting a topic for your thesis.

  • Block 1

    • This course follows a problem-solving approach that synthesizes ideas from game theory, real options, and strategy for corporate decision-making.

    • The main topics of this course are:

      • The industrial organization view versus the asymmetric information paradigm
      • Moral hazard and adverse selection
      • Wholesale banking, relationship banking, asset based lending and adverse selection
      • Risk analysis, Value-at-Risk and heavy tails
      • Bank fragility: Bank runs, systemic risk & diversification, regulation and supervision
      • Systemic risk and the credit crises
      • Monetary policy, interest rate risk and credit risk
    • Accounting Process Management deals with the acquisition, storage, and processing of data about an organization's various business activities (e.g., sales, purchasing, production, and payroll).

    • A major part of this course will touch upon the field of Asset Pricing, especially in the lectures regarding the modeling of risk. A proper understanding of risk is fundamental to many financial management applications such as capital budgeting, risk management, portfolio selection and performance evaluation. 

    • The first part of the course provides students with advanced knowledge in capital structure theories that build on taxes, financial distress, and agency costs (static tradeoff theory), information asymmetry (the pecking order theory), and market timing. The second part of the course describes the developments in mergers and in corporate governance. Several practice problems will be discussed.