A1256655053LUTJh

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Faculty of Economics and Business Administration
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MSc International Business -Accounting

• Dr. Erik Peek (e.peek_at_aim.unimaas.nl)
• 21 May, 2008

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About the Department of AIM...

• Professors with international teaching and
  research experience (e.g., Wharton, MSU, U of
  Auckland)
• Authors of established international textbooks
  (e.g., AIS, financial statement analysis)
• Leading in accounting research on the European
  continent
• Strong ties with the profession
• Leading among European peers in commissioned
  research for e.g. the European Commission
• Partner in the worlds primary audit research
  network
• leading in international accounting research
  and education.

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What our program offers

• Developing general skills
• Solving practical problems (PBL, real-life cases)
• Being an active participant in high-level debates
  on contemporary accounting issues
• Understanding the findings and practical
  implications of the latest academic research in
  accounting
• Developing specific skills
• Measurement and disclosure of
• Provision of assurance about
• Interpretation of financial information

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Specific skills

• Assuring the accuracy of financial information
• - Assurance Services
• - Internal Control

• Understanding the importance and knowing the
  essential elements of a well-functioning internal
  control system
• Understanding the essential stages and procedures
  of financial statement audits
• Being able to effectively perform entry-level
  assurance work in professional accounting firms

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Specific skills

• Preparing and disclosing financial statements
• - Financial Accounting
• - Fin. Statement Analysis
• Interpreting and using financial information
• - Fin. Statement Analysis
• - Management Control
• - Strategic Performance Analysis

• Having a thorough understanding of IFRS reporting
  standards and the institutions that guide the
  preparation and publication of European financial
  statements
• Being able to interpret, and use financial
  information for making various resource
  allocation decisions (e.g., budgeting and
  control investment decisions loan granting
  decisions)

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These skills help you to become

• (External) Auditor
• Manager Internal Audit ...

• Controller/Manager Planning and Control
• Financial/Business Analyst

• Reporting Analyst/ Manager Reporting and
  Consolidation
• IFRS Consultant
• Transaction Services Consultant

and more
Accountancy focus Controlling focus
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40 of CFOs of Hong-Kong-listed firms has an
accounting background
Accountancy (UK) 20 of CEOs of FTSE100 has an
accounting background
Dutch CFOs with accounting background KPN,
Heineken, Vedior, Randstad, Essent, Nielsen,
LogicaCMG, Getronics (Source Dutch NIVRA)
CFO magazine (US) Were seeing a real shift to
CFOs with a technical accounting background
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Outline of the MSc IB Accounting Program
(Accountancy focus)
Balanced mix of research-, problem-, and
case-based learning
T1, B1 Assurance Services Financial Statement Analysis
T1, B2 Internal Control Elective Corporate / Tax Law
T1, S2A Skills related to the Masters Thesis Skills related to the Masters Thesis
T2, B3 Financial Accounting Masters Thesis Project 1
T2, B4 Management Control Masters Thesis Project 2
T2, S4a Finalizing the Masters Thesis Finalizing the Masters Thesis
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Outline of the MSc IB Accounting Program
(Controlling focus)
Balanced mix of research-, problem-, and
case-based learning
T1, B1 Strategic Performance Analysis Finance/Accounting elective e.g., FSA
T1, B2 Internal Control Elective (Law)
T1, S2A Skills related to the Masters Thesis Skills related to the Masters Thesis
T2, B3 Financial Accounting Masters Thesis Project 1
T2, B4 Management Control Masters Thesis Project 2
T2, S4a Finalizing the Masters Thesis Finalizing the Masters Thesis
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Post-graduate programs

• The MSc IB Accounting program is an excellent
  preparation for AIMs post-graduate programs in
  auditing (RA) or control (RC) (in Dutch)
• Other prerequisite BSc Accounting major
  Finance or IM minor
• Remaining deficiencies for p-grad RA (if
  applicable)
• Consolidation and fiscal accounts (summer course)
• Tax Corporate Law (can be done after entering
  the program)
• For further info Leon Timmermans

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In short

• Strong department first class teachers
  small-scale approach
• Practical training development of directly
  applicable skills
• Getting a good understanding of why and how
  businesses operate
• Excellent job perspectives
• Excellent preparation for postgraduate programs
  in auditing and control

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Questions

• Questions about the accounting track
• E.Peek_at_aim.unimaas.nl
• For specific questions regarding the postgraduate
  programsLe.Timmermans_at_aim.unimaas.nl

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Assurance Services

• Become familiar with the stages, procedures and
  environment of an audit prepare for entry-level
  assurance work in professional accounting firms
• Assignments discussion of academic research two
  real-life cases aimed at training practical
  skills
• Example case
• Based on company description and financials,
  conduct business risk analysis, identify risks
  for the inventory account, and outline the audit
  steps that you need to take to obtain assurance
  with respect to the inventory

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Financial Statement Analysis

• Business analysis and valuation using financial
  statements
• Assignments discussion of real-life cases
  discussion of academic research
• Example case
• Between 2000 and 2005, Carrefours share price
  decreased by 50 percent, despite the companys
  ROE of close to 18 percent. Rumors are that
  Carrefour is a takeover candidate.
• Task analyze Carrefours financial statements to
  identify the causes of the companys poor market
  performance. Is Carrefour a good takeover
  candidate?

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Internal Control

• Design of an effective internal control system to
  assure the quality of information
• Problem-based learning discussion of internal
  control cases discussion of academic research
• Example case
• A typology approach, e.g. description of a
  manufacturing company
• Task Identify the risks and describe a set of
  internal and IT controls that can effectively
  assure the quality of information

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Financial Accounting

• Preparation of multinational companies financial
  statements in accordance with IFRS
• Focus on application and rationale of accounting
  methods
• Assignments, with focus on
• Business combinations and consolidation
• Foreign subsidiaries
• Segment reporting
• Financial instruments

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Management Accounting Control

• Become familiar with contemporary management
  accounting control topics
• financial and non-financial performance
  measurement and management
• performance based rewards
• human behavior in response to economic incentives
• Real-life cases
• Strong focus on recent academic research and its
  implications for practice

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Strategic Performance Analysis

• Using management accounting to analyze complex
  business situations for strategic decision making
• Value chain analysis, internal capital markets,
  turnaround management, and analysis of strategic
  changes
• Academic research and real-life cases
• Company workshop and SAP training