BA in Accounting and Finance

The Program aspires to contribute to strengthening Cyprus’ competitive advantages in financial services in the European and global context. As a direct response to the needs of the society and of the industry, the program aims to provide students with the knowledge and skills needed for a career and further academic progression of studies in accounting and finance. The design of the program syllabi provides both the academic and practical knowledge needed for laying the foundation for postgraduate studies in accounting and finance and obtaining professional qualifications in accounting.

The main objectives of the program can be summarized as follows:

1. To equip students with knowledge, competencies, and professional integrity to effectively function as specialists in the field of accounting and finance.
2. To endow students with independent critical thinking, encourage creativity and academic rigor to pursue career goals and further graduate studies.
3. To provide students with the opportunity to pursue a professional accounting qualification (such as ACCA, ACA etc.) with the advantage of obtaining significant exemptions from the exams from certain accounting bodies (e.g., Association of Chartered and Certified Accountants (ACCA), the Institute of Chartered Accountants of England and Wales (ICAEW) and the Association of International Accountants (AIA).
4. To prepare students for a career in the investment industry by following closely the chartered financial analyst (CFA) curriculum preparing students wishing to pursue the CFA qualification.

The language of instruction is English.

Key Learning Outcomes

Consistently with the mission of the university for fostering academic excellence, the program sets the following learning outcomes:

1. Record, analyze, report, and interpret financial accounting information for external reporting purposes.
2. Interpret financial information for management (internal reporting) purposes and perform cost and management accounting.
3. Use techniques and methods for preparation and audit of financial statements.
4. Outline and apply auditing theories and auditing standards.
5. Prepare tax computations in various areas of taxation for both individuals and companies and make suggestions for tax planning.
6. Apply finance techniques for capital budgeting and financing of investments.
7. Analyze financial issues relating to financial markets and the risk management of financial institutions.
8. Analyze and understand the use modern financial techniques for portfolio investments, evaluating risk and the valuation of securities.
9. Synthesize the functions of the international financial markets and the operation of the EU executive institutions.
10. Develop computer and statistical skills for analyzing data, reading, and understanding academic literature and performing research.
11. Develop specific communication skills for presentation and written reports, learn how to work in groups and participate in joint projects.
12. Develop the skills necessary to perform teamwork and leadership, creativity and information retrieval and research.
13. Enable students to cope with assessing economic information and evaluating different beliefs and opinions, develop their own set of arguments and values and apply theories to problem and economic policy issues.
14. Develop important management skills for understanding the structure of organizations and managing human resources.
15. Apply knowledge and understanding for navigating their businesses within the legal framework as applicable to individuals and corporations.

Exemptions from Professional Examinations

The program provides the following exemptions from professional accounting bodies:

• Up to 9 out of 13 examinations of the Association of Chartered and Certified Accountants (ACCA)
• Up to 8 out of 15 examinations of the Institute of Chartered Accountants of England and Wales (ICAEW)
• Up to 9 out of 14 examinations of the Association of International Accountants (AIA)
• Eligible to have full exemptions from the ACCA’s Foundations in Accounting (FIA) qualification. These include the following:
  • ACCA Diploma in Financial and Management Accounting (RQF Level 2).
  • ACCA Diploma in Financial and Management Accounting (RQF Level 3)
  • ACCA Diploma in Accounting and Business (RQF Level 4).
• Due to the exemptions from FIA students who complete the degree program are offered a technician-level qualification – the Certified Accounting Technician (CAT) Qualification. To achieve this award, they also need one year's relevant practical experience in an accounting role and completing an online course in ethics.
• Students who complete the degree program may be eligible to up to 5 out of 6 exams from the ICAEW Business and Finance Professional (BFP). To achieve this qualification, they also need one year's relevant practical experience in an accounting role, an online course in ethics and passing the exams for which exemptions are not awarded.

The above exemptions pave the way for graduates to obtain professional qualifications that are invaluable for a career in accounting and finance.

Occupational Profiles of the Graduates

The graduates of the accounting and finance program obtain the knowledge and skills required for a career in the accounting and more broadly in the financial sector. The graduates of the program are employed as accountants or financial analysts in accounting and audit firms, banks, financial consulting firms and investment companies. They also fulfil the requirements for employment in the public and private sectors in management related positions utilizing their skills and knowledge in accounting and financial analysis.