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Accounting and Finance

Language of instruction

english, lithuanian

Qualification degree and (or) qualification to be awarded

Master of Business Management

Place of delivery

Kaunas, K. Donelaičio g. 58, LT-44248

Institution that has carried out assessment

No data

Institution that has performed accreditation, accreditation term

Studijų kokybės vertinimo centras, 5/30/2030

Data provided or updated (date)

2/6/2023

Order on accreditation

SV6-28
More about programme

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Summary of the Profile

General Description:
Objective(s) of a study programme:
The aim of the study programme is to prepare a finance and accounting professional who is able to demonstrate holistic thinking, is well acquainted with the development strategy of small and medium-sized business organizations, is capable to make value-adding financial decisions by using the latest financial and accounting models, methods and technologies, and is able to develop and implement innovations in financial management and accounting.
Learning outcomes:
1. To know classical and modern theories and financial models, models of accounting and management, to assess the reasons behind their emergence, development trends, and the possibilities, assumptions and limitations of their application in practice.
2. To understand the macroeconomic environment and its factors, the relationship between finance and sustainable development goals, anticipate the
business development trajectories, and identify changes in financial markets that affect financial management decisions in business organizations.
3. To demonstrate the ability to apply theories, models, and valuation tools to manage the finances and business and financial risks of small and medium-sized business organizations, to form and manage their investment portfolios, and to manage their accounting, and understands the peculiarities of their application in agribusiness organizations; to demonstrate a holistic ability to assess the opportunities offered by the digitization tools and the risks of applying innovative financial technologies in business organizations.
4. To identify a scientific/practical problem, to select models and methods to solve it and conduct the empirical research needed to support the financial management decisions in the context of value creation and risk management or to develop and implement financial management and accounting innovations in business organizations.
5. To formulate and propose reasoned financial management solutions in the context of value creation and risk management of business and agribusiness organizations, identify complex financial management problems and solve them independently and innovatively; critically evaluate alternatives for long- and short-term solutions; make financial management decisions in the context of the risks of agribusiness; independently analyse and critically evaluate the impact of financial technologies on the development of new business models and the transformation of the existing ones.
6. To independently analyse and critically evaluates the macroeconomic environment, investor behaviour in financial markets, changes in financial markets in the context of integration and globalization and models the links between financial management and sustainable development of business organizations.
7. To creatively select and apply accounting models and methods to improve the efficiency of small- and medium-sized business organizations and to
address the issues of reporting, transparency of information, and reduction of asymmetries.
8. To effectively communicate and work in teams with the stakeholders in a variety of organizations on relevant financial and accounting issues in a multidisciplinary environment; take initiative and leadership in the implementation of strategic financial management and accounting solutions in business organizations and in the development of the financial and accounting services business.
9. To analyse, systematize, critically evaluate and interpret information relevant to the changes of financial system, ensure its transparency and symmetry; make decisions in a dynamic and highly uncertain environment, constantly improve own professional skills, and respond flexibly to changes and the challenges of the time.
Activities of teaching and learning:
Studies include face-to-face studies (lectures and seminars) and individual students work. The studies of each course are concluded with an assessment of the student’s knowledge and skills – an exam or other final assessment, the study programme ends with a final thesis and its defense. In the study process, in order to promote student activity and creativity, active learning study methods such as discussion, debate, case studies, problem solving based learning, brainstorming, independent activity, preparation and presentation of course works, independent and group works.
Methods of assessment of learning achievements:
The cumulative score evaluation system is used for the assessment of achievements in all courses. Applied assessment methods: midterm; tests; individual tasks; presentation and defense of course, individual and group works; exam. Exams are conducted in written form. Intermediate assessments and the exam are assessed using the following assessment methods: written survey (during the midterm, exam, tests); assessment of case studies; assessment of course, independent and group works and their presentations. The final grade integrates the grades of the midterms and the exam. The weights of the individual components of the midterms and the exam for the final grade are determined by the teacher.
Framework:
Study subjects (modules), practical
training:
All the study courses can be divided into three main groups: the field of finance (a total of 90 ECTS), the field of accounting (a total of 18-24 ECTS) and the field of management (a total of 6-12 ECTS). This programme emphasizes the competencies of finance and accounting study fields, and 15% of its scope are therefore allocated to the compulsory study courses of the accounting field. Studies in Finance field within the scope of this study programme begin with the course of “Finance” Theories which is important in order to master other study courses of the field, such as “Financial Markets”, “Strategic Management of Company Finance”, “Investment Portfolio Management”, and “Sustainable Financing”. The study course “Finance Theories” develop students' ability to understand the essence of financial theories and scientific approaches, development trends, develops a holistic approach to the financial system and its processes. “Financial Markets” provide an opportunity to identify and critically assess changes in the financial markets in the context of integration and globalization, as well as investor behaviour in the financial markets. The study course “Investment Portfolio Management” develops the students' ability to make decisions on formation of the investment portfolio and management of a business organization in a constantly changing environment in the case of shortage of information and by exploring new, unconventional decision-making methods and financial management tools. The study course “Sustainable Financing” focused on the provision of financial services, where environmental, social and governance criteria are integrated into business or investment decisions for the long-term benefit of all stakeholders. “Scientific Research Methodology” is the study course that cultivates the research skills and is studied during the first semester, as it forms the basis for performance of a lot of independent (individual and group) assignments. This study course and “Financial Econometrics” are combined with the “Scientific Research Work” and “Applied Research”, because teaching/learning of these courses is based on the research methods and econometric calculations and modelling. “Business Finance Analysis and Planning” forms the necessary transferable skills for the purpose of the study course “Strategic Management of Company Finance”, which develops the students' ability to make strategic financial management decisions based on the financial theories, models and instruments that increase the value of the company. During the penultimate semester, the study course “Digitization and Financial Technologies” is studied. This study course is horizontal. During the study course, the students become acquainted with the main information technologies and technologies of the communication infrastructure enabling the transformation of financial management processes at the company. The courses in the field of accounting expand the specific theoretical knowledge related to finance and develop special skills. During the study course “Management Accounting”, modern management accounting systems are mastered and help find solutions to financial management issues. The study course “Accounting Theories” reveals the development trends and limitations of financial accounting and is fundamental (forms the basis) for the study course International Accounting, during which specialized skills of analysis and evaluation of accounting issues are developed under the conditions of globalization. The students who have opted for the course Audit and Assurance can enhance their knowledge in audit, which is relevant to internal and external stakeholders due to the increased need for financial and non-financial reporting. The management field study courses “Business Strategic Management”, “Innovation and Change Management”, and “Theories and Methods of Consulting” are electives and intended to provide the graduates with good understanding of the development strategy of small and medium-sized business organizations and the ability to make value-adding financial decisions. The study course “Business Strategic Management” is compulsory. Study material of this course is combined with the study course “Strategic Management of Company Finance”, as it develops the competences necessary for formulation of the goals of a business organization and setting of the target indicators. This knowledge and skills are important for preparation of a financial plan, evaluation of investments, and making decisions that add value to a business organization.
Specialisations:
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Optional courses:
Students may choose two study courses (6 ECTS in Finance field, 6 ECTS in another field). In the fourth semester, they can choose a study course in Finance field – “Scientific Research Work” or “Applied Research” – depending on their decision to develop either a scientific or a practical problem. In the fourth semester, they choose either “Scientific Research Work” or “Applied Research”, depending on the decision to develop either a scientific or a practical problem. These study courses are the start to the preparation of the “Final Master Thesis”. Upon successful completion of the above-mentioned courses, the students can later resume their research by preparing the “Final Master Thesis” or choose a new course matter and topic. It depends on many factors, such as the relevance of the topic, availability and adequacy of the required data, the student's ability to develop the scientific/applied research chosen previously, career modelling opportunities, etc. In the fifth semester, the students can choose one of the three courses that belong to the other field of study: “Audit and Assurance”, “Innovation and Change Management” and “Theories and Methods of Consulting”. The students’ choice depends on how they model their career opportunities. If they are or intend to be employed at business consulting and audit companies, they benefit from the study course “Audit and Assurance”. If they intend to start a business and provide accounting or financial management services, they are likely to choose the course “Theories and Methods of Consulting”; those intending to work at business organizations and seeking leadership, will opt for the course “Innovation and Change Management”.
Distinctive features of a study programme:
Integration of the competencies of finance and accounting study areas, orientation towards small and medium-sized business organizations, the possibility of choosing a scientific and practical research direction, and the organization of studies in a mixed (contact and remote) way. The integration of the competencies of finance and accounting study areas is manifested through the inclusion of mandatory accounting study areas in the program (they make up 15 percent of the program volume) and the formulation of study results.
Access to professional activity or further study:
Access to professional activity:
Graduates will be able to work as financial managers, analysts and consultants in business and public organizations, financial institutions, international organizations, business consulting and auditing companies, research and pedagogical work in universities, universities of applied sciences and vocational schools, to start and develop business in the field of accounting and financial management services.
Access to further study:
Graduates have the opportunity to pursue doctoral studies and obtain a PhD degree in social sciences after 4 years of full-time or 6 years of part-time study.