Accounting and Auditing

First year

Semester I

Research Methodology 8 ECTS

Research Methodology course aims to prepare students to write their master’s thesis and further to encourage the formation of a more advanced level of scientific research, to promote individual reasoning and to create skills in the implementation of research theory and methods. Moreover, the overall purpose of this course is to provide students with theoretical and applied knowledge on the qualitative process of a scientific research.

The objectives of the course include:

To enable students to understand what is research and the importance of scientific research specifically to know the concept of theory, empiricism, deductive and inductive theory.
To enable students to select the thesis topic based on limiting factors such as available time and resources
To orient students in defining the basic pillars of research concretely: purpose, research objectives, research questions and hypotheses;
To provide students with knowledge on the stages of review of theoretical and empirical literature as well as the importance of information sources laid out by the prism of quality and relevance;
To provide students with theoretical knowledge and practical demonstration on different styles of reference and their insertion through the word program;
To deliver to students’ general knowledge on different types of research methods and to orient students practically how to make their selection of the research method depending on the scope of the selected topic and the basic pillars of the research (goals, objectives, research questions and hypotheses) specifically emphasis is placed on qualitative, quantitative and combined research methods;
To provide students with theoretical knowledge and practical demonstration on primary data collection methods including questionnaire and different types of questionnaires, interviews, focus groups and observation;
To orient students to data, their types, and work with data primarily to distinguish between primary data and secondary data from primary and secondary sources;
To enable students to design online questionnaires, codify questionnaires, prepare databases and work with IBM SPSS software including general knowledge of the program, data analysis with IBM SPSS software including descriptive statistical analysis, frequencies, correlation analysis, one-factorial and multifactorial regression as well as hypothesis testing.
To provide students with knowledge on the general conceptualization of a scientific paper.

Theory of accounting and auditing 8 ECTS

This course provides an overview of accounting and auditing concepts according to local standards, which are significantly harmonized with international standards. The main objective of this course is to provide students with advanced knowledge about audit functions, financial statements examinations as an audit tool, ethical and professional standards applicable to auditors, risk-based auditing and statistical sampling, risk analysis, as well as the legal and regulatory aspect in the premises where the audit function is performed.

The specific course objectives are:

To enhance the understanding of the generally accepted accounting and auditing standards;
To provide students with knowledge regarding functions and responsibilities for a proper risk-based auditing and reporting;
To inform students regarding legal, regulatory and standards with implications in audit findings;
To prepare students in applying audit principles and techniques in finding material errors and fraud, in the financial statements and in compiling the auditor’s opinion.

International Accounting Standards IAS 8 ECTS

The aim of International Accounting Standards IAS course is for students to gain advanced knowledge regarding the application of standards while performing the accounting process in Corporate. The specific objectives of the course are related to the standards from IAS-1 to IAS 41.

Governance, Risk and Ethics 6 ECTS

The key aim of this course is to expand students’ skills in applying professional judgement and ethical values of governance, internal control and risk management, when carrying out the role of accountant.

The purpose of this course is:

To enable students to describe and explain the meaning of governance, risk and ethics.
To qualify students with skills when applying the key underpinning concepts of governance in using different approaches to corporate governance.
To expand students’ analytical skills on evaluating issues related to corporate social responsibility.
To enable students with analytical skills in identifying risk and evaluate management responses to different sources of risk.
To clarify the importance of ethics to students, in the accounting and auditing professions and the consequences of unethical behavior.

Advanced Accounting 6 ECTS

The aim of the course is to provide students with knowledge and skills regarding the role and importance of advanced accounting, which strictly adheres to International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) and to understand how important are decisions in the circumstances of globalization, when the forms of business combination in different countries are increasing, rational decisions are unfeasible without the study of advanced accounting.

To enable students to master the concepts of advanced accounting in general as well as theoretical and practical cognitive processes.
To offer students training in the relevance of knowledge and concepts of the course and to link this basic knowledge with other courses.
To encourage students to understand the importance of comprehending the basic concepts of advanced accounting, its impact on daily life, as well as to develop and implement professionally in daily activities that meet and stimulate a positive attitude towards this science.
To enable students to explain and understand advanced accounting concepts and segments in contemporary business within IAS and IFRS.
To teach students how to prepare financial statements, to know how to read them, understand and use information from financial statements for decision making.

Semester II

Financial Reporting 8 ECTS

The key aim of this course is to enhance students’ skills in order to understand and apply accounting standards and the theoretical framework in preparing entities’ financial statements, including groups, and how to analyze and interpret financial statements.

The purpose of this course is:

To acquaint students with the conceptual framework and regulations of financial reporting
To train students in preparing individual financial statements using International Accounting and Financial Reporting Standards
To train students in preparing consolidated financial statements using International Accounting
and Financial Reporting Standards
To enable students to work independently in analyzing and interpreting financial information.

Performance management 8 ECTS

The aim of this course is to develop and deepen further students’ knowledge and skills in the application of managerial accounting techniques to provide quantitative and qualitative information in the process of planning, decision-making, performance evaluation and control.

Finally, the overall aim of the course is to enable students to manage and evaluate performance in a business entity or other public and private sector organization.

The specific objectives of the course are:

To train students in the use of special cost accounting and management techniques;
To prepare students in the use of managerial decision-making techniques;
To provide students with broadened knowledge on the processes of budgeting, execution and budget control;
To train students in measuring and analyzing performance through the use of financial and non-financial indicators;

Financial Management 8 ECTS

The aim of ‘Financial Management’ course is to develop anticipated knowledge and skills of a financial manager, related to issues affecting investment, financing, and dividend policy decisions.

The specific aims of the course are:

To discuss the role and purpose of the financial management function,
To access and discuss the impact of the economic environment on financial management,
To discuss working capital management techniques
To conduct effective investment assessment
To identify and evaluate alternative sources of business finance
To explain and calculate cost capital and the factors which affect it
To discuss and apply principles of business and asset valuations
To describe and implement risk management techniques in business

Laws and Advanced Taxes 6 ECTS

The key goal of ‘Laws and Advanced Taxes’ course is to train students to understand advanced legislation in the field of taxation, legal requirements for tax reporting and financial reporting at local levels and their adaptation to international directives.

The specific objectives of the course are:

To provide students with knowledge on the basic legal requirements of doing business, conditions for registration and operation of the business
To know the rules and legal requirements for accounting and financial reporting
To align local laws with EU directives on taxes and customs
To encourage students to choose as a direction for further studies or even the profession in the field of taxation, accounting and auditing
To develop the student’s ability to analyze and more confident and proficient in the economic explanation and interpretation of tax laws and economic problems tax accounting.
To enable students to formulate sound opinions from the field of taxation and related fields for solving the problems of entrepreneurs
To prepare students for all tax concepts, types, calculation, declaration and financial reporting

Corporate Reporting 6 ECTS

Lectures on Corporate Reporting aim to deepen the knowledge of master students at the level of reporting performance as a conceptual standardized whole through reports and financial statements. Such approach is considered standardized if it is in accordance with accounting standards, financial reporting standards, and as required by local and international authorities on annual and periodic reporting.

Second year

Semester III

Audit And Assurance 8 ECTS

The course ‘Audit and Assurance’ aims to share knowledge and understanding of the process of carrying out the assurance engagement and its implementation in the context of professional regulatory framework.

The specific aims of the course are:

To discuss the role of audit framework and regulation,
To access and discuss the impact of planning and risk assessment
To discuss the impact of internal controls
To develop the audit evidence
To apply audit review and report

International Standards on Auditing ISA 8 ECTS

The aim of the course, International Standards on Auditing, is for students to gain advanced knowledge regarding the application of standards while performing the audit process. The specific objectives of the course are related to the standards from ISA-200 to ISA 810.

Ethics in Accounting and Auditing 8 ECTS

This course provides the ethical grounding that accountants need both to identify ethical issues they might encounter and to respond effectively to them. The course will present a range of ethics‐related issues, including the causes of ethical violations and frauds, whistleblowing, the design, operation of company compliance and ethics programs. reporting, management. Offering opportunities to recognize the importance of ethics at work of providing accounting and auditing services. Creating staff with professional responsibilities and moral, further increasing individual sense of professional implementation and ethical knowledge gained from accounting and auditing.

Advanced Performance Management 6 ECTS

The aim of course is to apply relevant knowledge, skills and exercise professional judgement in selecting and applying strategic management accounting techniques in different business contexts and to contribute to the evaluation of the performance of an organization and its strategic development.

The specific objectives of the course are:

To prepare students for strategic performance planning and control;
To raise student’s awareness about assess the impact of risk and uncertainty on organizational performance;
To provide students with more advanced knowledge of strategic performance measurement in private sector companies and not-for-profit organizations;
To train students on interpreting of financial statements for different stakeholders;

IFRS International Financial Reporting Standards 6 ECTS

The main purpose of this course is to acquaint students with International Financial Reporting Standards and financial reporting issues arising from business combinations and the difference between consolidated and individual financial statements in application of IFRS 3, IFRS 10, IFRS 11, IFRS 12 and IAS 21.

The specific objectives of this course are:

to provide knowledge on the most recent literature from International Financial Reporting Standards (IFRS);
to encourage students to use international financial reporting tools and practices advised by International Financial Reporting Standards (IFRS);
to instigate students in building financial statements for planning, reporting and transaction purposes, using IFRSs;
to prepare students to use appropriate quantitative techniques to analyze financial statements based on international financial reporting standards;
to explain the work of the IFRSF / IASB and the changes that follow;
to examine the basic requirements of IFRSs for the benefit of preparers, auditors and users of financial statements;
to provide guidance on how to practically use IFRSs with the help of questions, exercises, assignments, case studies.

Semestri IV

Master Thesis MSC 30 ECTS