BSc in Finance and Accounting

DSE134 — Quantitative Methods I

DSE135 — Quantitative Methods II

DSC211 — Introduction to Econometrics

This is an introductory course in Econometrics. The course is designed to provide the students with sufficient knowledge of statistics and econometrics necessary to understand and be able to evaluate and interpret econometrics researches that use basic linear regression methods. The course begins with a link between statistics and linear regression model and its assumptions. Violations of assumptions and their consequences in estimation process are further examined.

DSE230 — International Economics

The course is an introduction to the workings of the international economic system and the economic forces that govern contemporary economic and financial relations between nations. The course consists of two major components. The first component examines international trade, that is the exchange of goods and services between nations. This part of the course does not examine financial exchanges between nations, a topic that is covered in the second part of the course. The first part of the course presents a general overview of international commercial exchanges and an introduction to economic theories that purport to explain these. This part emphasizes the costs and benefits to a nation from participating in international markets. Moreover, it presents a general introduction to protectionism and examines the different types of barriers to trade that nations impose on the flow of international trade and the reasons for the imposition of these barriers. The second part of the course is an introduction to international finance and the role of money and different currencies in financial exchanges between nations. It presents an overview of international financial transactions and introduces a nation’s balance of payments. This is followed by an examination of the foreign exchange market and international parity conditions in the foreign exchange market. Subsequently the course examines the basic theories of the balance of payments and the determination of exchange rates.Throughout the course emphasis is given to the applied dimensions of international trade and finance and the course uses examples from different economies with special mention of the external trade to the European Union and the role of the euro in international financial transactions.

DSE232 — Macroeconomics

The course’s purpose is to teach students to be able to answer macroeconomic questions using simple theoretical models. It presents how theoretical models are constructed and the way they are validated using empirical evidence. Initially the course investigates the long run period and specifically how economic growth and inflation are generated in the long run. Then it moves to the short run and explains why the economy may deviate from its long run trend creating unemployment and/or inflation. Last, the course refers to Central banks and how monetary policy affects the short-term equilibrium using its tools of monetary policy.

FAMS111 — Principles of Microeconomics

Microeconomics is a fundamental pillar of Economics and, as such, of the scientific training of every economist. In particular, this course presents and analyses the elementary tools of economics in order to better understand and apply economic reasoning. Students will develop economic thinking and will be able to use basic economic principles and tools to analyse markets and evaluate economic policies.

FAMS113 — Principles of Financial Accounting

The course provides students with an introduction to accounting, the need for financial information and, in particular, its reliability under the regulatory framework. The aims of the course are to introduce the conceptual framework of accounting (assets, liabilities, income, expenses), the double-entry method, the accounting cycle and the preparation of Financial Statements.

LCE136 — English for Finance, Accounting and Management Science I

The aim of this compulsory course is to enable students to communicate at level B1–B2 of the Common European Framework of Reference (CEFR) for Languages. The course is specifically designed around the needs of students in the field of finance, accounting and management science. It also aims to equip students with the language skills and specialised vocabulary required to communicate and work effectively in the field of finance, accounting and management science. The course focuses on developing English-language proficiency and academic and technical writing skills specifically tailored to professionals in this field of study. Through a combination of interactive lectures, practical exercises and projects, students will strengthen their ability to understand, interpret and communicate complex concepts related to their field of study in English — such as economics, finance, financial institutions, bookkeeping, auditing, management, leadership, etc. The course covers various aspects of economics, finance, accounting and management science, as well as academic and technical writing.

FAMS114 — Personal Money and Capital Management

The course aims to provide the necessary tools for students to acquire economic and financial literacy. Through this course, students will gain the understanding of concepts related to economic and financial management that is necessary to help them better assess the effects of various economic events on their financial decision-making. In addition, students will develop a rational attitude and culture so as to make informed and sound financial decisions throughout their life cycle. The course aims not only to protect students from financial challenges, risks, identity theft and fraud, but also to educate them about the available options for recovering from any losses. Throughout the course, students will gain an understanding of the complexity involved in financial decision-making through multiple practical applications. Overall, the course integrates principles ranging from finance and economics to accounting, psychology, sociology, statistics and data science.

FAMS121 — Principles of Macroeconomics

The aim of the 'Principles of Macroeconomics' course is to provide an extensive introduction to macroeconomic theory as well as answers to questions concerning the economy as a whole. More specifically, the initial aim of the course is to understand basic macroeconomic concepts such as national income, inflation and unemployment, as well as to understand the determinants of economic growth and productivity. An additional and equally important aim of the course is to help students understand the operation of the financial system and the role of the central bank in conducting monetary policy. Finally, the course aims to introduce students to basic concepts of the open economy, including the exchange rate, as well as to the investigation of short-run economic fluctuations. On completion of the course, students are expected to interpret and recognise the macroeconomic problems facing an economy, as well as to understand how the economy operates at the macro level, in the short and medium run.

FAMS123 — Principles of Finance

The aim of the course is to help students understand the basic principles of corporate financial management by combining theory with practice. The course explains how financial theory can be used both to solve practical business problems and to make investment decisions by investors. It focuses on the valuation of financial securities within the risk–return trade-off. Specific topics examined include the concept of the Opportunity Cost of Capital, Net Present Value (NPV) or the time value of money and its application to capital budgeting, portfolio theory and the Capital Asset Pricing Model (CAPM), and the valuation of financial securities such as common stock and debt (bonds). In addition to focusing on the content and analysis of the various concepts, students are encouraged to apply electronic and software tools (e.g. solving problems using programs such as Excel). Through these, students are expected to develop abilities and methodological skills that will be useful in dealing with a variety of complex, realistic financial problems in their future professional and personal life (e.g. a bank loan, insurance, buying furniture on payment terms, investments, etc.). As you may discover, the world of finance can prove fascinating and rewarding.

LCE137 — English for Finance, Accounting and Management Science II

The aim of this compulsory course is to enable students to communicate at level B2 of the Common European Framework of Reference (CEFR) for Languages. The course is designed for students who have a solid foundation in English-language skills at level B1 and wish to further improve their communication abilities in the specialised field of finance, accounting and management science. Building on the concepts covered in the introductory course, this course delves into advanced language-use, technical-writing and oral-presentation skills, focusing specifically on more complex aspects of finance, accounting and management science. Through a combination of lectures, practical projects, case studies and interactive discussions, students will engage with topics such as international financial markets, financial analysis, financial accounting, econometrics, business ethics and decision-making. The course aims to equip students with the language-proficiency and communication strategies necessary to navigate the complexity of advanced concepts in finance, accounting and management science and to communicate them effectively in different communicative situations.

FAMS124 — Principles of Management

The aim of the course is to introduce students to the general principles of management, beginning with a review of its evolutionary and historical development as well as the various approaches and trends that govern it. The functions of planning, organising, directing and controlling are introduced in this course. The role of the manager is examined in promoting change and providing effective leadership, motivation, team-building, communication and decision-making.

FAMS211 — Financial Accounting I

The course examines in depth the accounting treatment of events relating to asset and liability items and their valuation. Emphasis is placed on the valuation rules prescribed by the applicable International Accounting Standards. In addition, the course aims to develop the ability to use published accounting information to make the necessary comparisons and take financial decisions. It covers financial-statement analysis, profitability analysis, credit-risk analysis, preparation of the Statement of Cash Flows and liquidity analysis, and capital-structure analysis.

FAMS212 — Business Skills

This course is designed to provide students with the basic skills required to succeed in the business world. Through a combined approach of theory lectures, case studies and guest talks from the business world, students will first learn how to communicate effectively, think critically, work collaboratively and adapt to changes in the business environment. Subsequently, the course covers key topics relating to information technology, its applications in the business environment and modern methods of developing and managing information systems. Students will learn to use MS-Excel, with which they will be able to manage and analyse various data.

FAMS213 — Commercial and Corporate Law

The aim of the course is to present and explain the legal system of Cyprus and, more specifically, commercial law and its provisions that affect companies and traders and their activities; the understanding of the concept and importance of commercial acts and their consequences, of merchant status, and of the conditions and consequences of acquiring and losing it. Corporate law is also presented, explaining the procedures for the formation and dissolution of a company, the obligations of the company as well as the obligations of its directors and auditors.

FAMS215 — Introduction to Programming

This course offers a fundamental introduction to programming concepts and computational thinking, focusing on the R programming language. It is aimed at students with little or no prior programming experience and seeks to equip them with basic programming skills. The course covers important topics such as data types, control structures, functions and basic techniques for data manipulation and visualisation. Students will learn how to write simple R scripts, manage data and perform basic analyses in R. Emphasis will be placed on developing problem-solving skills and applying programming principles to real-world situations, particularly in data-driven environments. By the end of the course, students will have gained a strong understanding of the basic concepts of programming and will be able to use R confidently for basic computational tasks.

FAMS221 — International Financial Markets

The course examines issues faced by multinational companies and international investors in the international money markets. The various problems and challenges faced by participants in the international markets are analysed, as well as the theories governing participants' transactions. The emphasis of the course is on the practical application of the theories, with particular emphasis on examples from the European Union and the role of the euro in international financial transactions. The course begins with a brief review of the basic concepts of the balance of payments and the foreign-exchange market. It then examines the international parity conditions in the money markets. This is followed by a brief review of exchange-rate hedging instruments. The next topic is the theories of exchange-rate determination. The second part analyses the exposure of companies' activities in the international markets. The cost and availability of capital in the global markets is the next topic. The course examines the ways in which companies finance their activities, e.g. equity or debt. In conclusion, we analyse international portfolio management by investors.

FAMS222 — Financial Management

The main aim of the course is to introduce students to the fundamentals of financial management. The course aims to provide students with a full knowledge of the basic approaches used by companies and financial institutions to manage working capital, inventory and accounts, to evaluate investments and to manage risk.

DSC220 — Management Science

The purpose of the course is to study operational research techniques and methodologies aimed at their application for making optimal managerial decisions. Emphasis is placed on problem-solving and the study of models in the fields of finance, management science, economics, and shipping. Assignments and exercises with software will be carried out during lecture and tutorial periods. Some of these topics will be studied and presented during the course. Upon completion of the course, students will be able to identify, use, and analyze the appropriate techniques needed to answer various questions in their areas of specialization. The course is specifically tailored for students who are interested in enriching and deepening their knowledge in decision-making within an operational environment.

FAMS225 — Management Accounting and Costing I

The aim of this course is to develop the basic concepts of costing. The course aims to teach the use of accounting tools (e.g. budgets) to solve internal business information issues, as well as the preparation of reports for management decision-making.

FAMS310 — Financial Econometrics

An advanced course in Econometrics that aims to give students sufficient knowledge of issues relating to financial econometrics. It covers topics relating to economic and financial relationships, analyses important results of empirical studies in finance, and provides the means for applying econometric models to financial theory.

FAMS311 — Corporate Finance

The aim of the course is to form a comprehensive picture of Corporate Finance, not only at a theoretical but mainly at a practical level. This course deals with case studies to introduce corporate financial management, providing an overview of the basic analytical tools and explaining their applications to companies' financial problems.

FAMS312 — Investment Management

The aims of the course are as follows: to develop students' knowledge and understanding of the basic issues of asset allocation and portfolio construction and management; and to give students the opportunity to develop the ability to critically interpret current theoretical and empirical research in the field of portfolio theories and their implications for alternative portfolio composition and management strategies.

FAMS313 — Financial Accounting II

The aim of the course is to enhance students' knowledge and understanding of the International Accounting Standards and their application, as well as of issues relating to the preparation and presentation of financial statements.

FAMS314 — Management Accounting and Costing II

The aim of the course is to develop knowledge and skills in applying management-accounting techniques such as decision-making, budgeting and standard costing, and how the performance of the business should be managed and controlled.

FAMS315 — Auditing I

The aim of the course is to explain the principles of auditing and corporate governance and to distinguish external from internal audit, to show the audit-acceptance process and the process of planning, scheduling, organising, carrying out, monitoring and completing the audit.

DSE334 — Banking Economics

The course aims to help the student to understand the theory and practice of modern banking financial institutions. The student will be able to understand the special nature of banking operations, the structure of the banking industry, diversification of banking, insurance and banking, international banking and multinational banks. Specific topics covered include the regulation of the banking sector, the banking sector in emerging markets, banking reforms, the banking sector in Cyprus. Moreover, the course refers to central banking monetary policy and how it affects banks, interest rates and the economy.

FAMS322 — Research Methods

The course aims to provide the necessary training in research methods, so that students can subsequently undertake research in the fields of Finance and Accounting. This course is an opportunity for students to acquire training in the theoretical, applied and critical skills necessary for conducting effective research. The various research methods that this course covers will help students gain a comprehensive understanding of the nature and scope of high-level research within the social sciences. More specifically, research methods draw on various tools from statistics, mathematics, econometrics, operational research and computer science.

FAMS323 — Derivatives

The course describes the nature, characteristics and markets for options and forward/futures contracts. It analyses the factors that determine their value and the basic valuation techniques, as well as their applications in the financial activities of the firm and in investment decisions. It also examines specifically their role in hedging or reducing financial risk.

FAMS411 — Financial Statement Analysis

The main objectives of this course are to develop students' ability to use financial-statement information for investment, financing and managerial decision-making. In particular, emphasis will be placed on evaluating a firm's financial data — such as industry characteristics, competitive strategy, past performance, risk and the quality of financial information, and forecasts of future performance — which helps in estimating the fundamental value of an equity stake in a firm using various valuation frameworks.

FAMS412 — Asset Valuation

The aim of the course is that, through the teaching and study of the main concepts of asset valuation, students will be able to use the knowledge and tools of the course in case studies. Thus, the course focuses more on the practical application of the financial tools of the course so as to prepare students appropriately for dealing with real scenarios. Also, through case studies, students are expected to assimilate the financial concepts and valuation tools better.

FAMS324 — Financial Accounting III

The aim of the course is to develop students' knowledge and understanding of the application of International Accounting Standards to the preparation of consolidated (group) financial statements.

FAMS325 — Tax Accounting I

The aim of the course is to explain the tax system of Cyprus, its principles and provisions, with examples of the various taxes imposed on companies, partnerships, the self-employed and employees.

FAMS413 — Corporate Strategy and Technology

The aim of the course is to help students understand how companies design, develop and implement strategies using information technology and data.

FAMS421 — Code of Ethics and Governance

FAMS500 — Practical Training (Internship)

The main aim of the Practical Training (Internship) is to give students the opportunity to understand the problems and trends in the fields of Finance and Accounting by placing them in a work environment with real working conditions. Students can assess the extent to which this environment relates to their academic studies and prepare appropriately for their successful entry into the labour market after completing their studies. By extension, the Department benefits from the resulting strengthened relationships with domestic industry and with other organisations/bodies.

FAMS501 — Dissertation

In this course the student is required to carry out a dissertation study under the supervision of a member of the Department's faculty. The student is expected to be able to complete an independent piece of research on a business topic using the knowledge and skills developed up to this point (for which the academic supervisor's approval is required). The aims of the course are: to provide students with the training required to conduct advanced research in their field; to provide students with an advanced understanding of the relevance and importance of alternative epistemological positions in the social sciences and the nature of both qualitative and quantitative approaches to research; to develop students' understanding at an advanced level of research, considering the study skills required to manage and undertake a research project; to give students opportunities to become familiar with cutting-edge empirical and theoretical research; and to enable students to conduct in-depth research at an advanced level on an issue applicable to the world of business and the labour market.

FAMS316 — Sustainable Finance

The aim of the course is to introduce students to the emerging field of Green Finance and to understand its contribution to approaching a sustainable global economy. The course covers the basic tools relating to sustainable finance, focusing on the incorporation of environmental parameters into financial decision-making. The course aims for students to understand current trends and to examine the strategic business implications of social and environmental challenges.

FAMS326 — Fixed Income Portfolio Management

The course aims to introduce the unique characteristics that define fixed-income securities and to provide an overview of the global debt markets. The main issuers, sectors and types of bonds are explained. Basic concepts for calculating and interpreting bond prices, yields and spreads, interest-rate risk and its measurement are presented. Securitisation is analysed, including the various types, characteristics and risks of these investments.

FAMS414 — Risk Management and Analysis

The course aims to provide students with a comprehensive understanding of financial risk, as well as the skills and knowledge to measure and manage risk. Students will acquire theoretical knowledge and practical skills for analysing, evaluating and managing financial risks. The course covers various risk assessments and mitigation strategies.

FAMS415 — Financial Technology

In recent years, companies and financial institutions have placed particular emphasis on financial technology (FinTech) and invested considerable capital as a result of the enormous advances in information technology and available information ('big data'). Moreover, finance professionals should have the knowledge to benefit from the synergies that exist between technology and finance. The main aim of this course is to familiarise students with the rapidly developing technology in financial matters. In this course, students will have the opportunity to acquire knowledge and critical understanding of key topics in FinTech, such as Blockchain technology, cryptocurrencies, advanced payment systems, the challenges of 'big data', algorithmic and automated trading, etc.

FAMS422 — Alternative Investments

The aim of this course is to provide students with fundamental knowledge of Alternative Investments and, in particular, investments in real estate, commodities, private equity and hedge funds. Students will explore the use of Alternative Investments for the purpose of risk diversification and achieving higher returns.

FAMS423 — Behavioural Finance

The aim of the course is to form a comprehensive picture of the important points of Behavioural Finance, which highlight the role of psychology in financial decision-making. The course aims to explain phenomena that cannot be fully interpreted by classical finance. In addition, this course aims for students to critically examine research studies in the field of Behavioural Finance, to examine phenomena that affect investment decisions and capital markets, and also to understand the impact of behavioural finance on modern financial theory and practice.

FAMS318 — Contemporary Issues in Accounting

The aims of the course are as follows: to gain a deeper understanding of accounting in today's complex business world; to understand the role of accounting in the relationship between business, the environment and society; and to emphasise controversial issues relating to measurement, reporting and corporate governance, including issues facing the profession such as sustainability and the effective functioning of capital markets.

FAMS319 — Shipping Accounting

The aim of the course is to specialise in Financial Accounting matters in the field of shipping companies. Through the course, students can understand the accounting particularities of shipping companies and deepen their knowledge of the relevant accounting concepts.

FAMS328 — Oil and Gas Company Accounting

The aim of the course is to provide students with the skills and knowledge to understand the nature and operation of oil and gas companies and their reporting practices. In addition, it aims for students to learn to analyse, interpret and evaluate company performance.

FAMS424 — Auditing II

The aim of the course is to prepare students to be able to interpret the significant issues in the audit of companies, such as acceptance, planning, management, completion, drawing conclusions and reporting.

FAMS425 — Tax Accounting II

The aim of the course is to prepare students to be able to calculate the various taxes for natural and legal persons. On completion of the course, students are expected to be able to prepare computations for the Income Tax of pensioners and employees, income from trade, the self-employed, income from immovable property, partnerships, companies, capital gains and inheritance, and VAT, and to apply ethical practices in tax matters.

FAMS426 — Advanced Financial Accounting

The aim of the course is to prepare students to be able to prepare financial statements of companies and groups of companies in accordance with the International Accounting Standards and International Financial Reporting Standards.

FAMS427 — Financial Accounting in the Banking Sector

The aim of the course is to prepare students to be able to apply expertise and skills to address compliance and ethics issues that arise in the preparation and evaluation of financial reporting and in the audit of banking institutions.

FAMS428 — Accounting Information Systems

The aim of the course is for students to learn to use computerised accounting programs, to keep accounting books and records electronically, to produce statements such as the balance sheet, and to complete forms such as VAT returns electronically.

FAMS317 — Data Analysis for Finance and Accounting

This course is designed to equip students with the technological skills and knowledge necessary for using big data in decision-making in the current and future business environment. Students will learn how to prepare and visualise data, create business reports and analytics using Power BI, and use Machine Learning (ML) and Natural Language Processing (NLP) techniques to extract knowledge from data. Students are expected to learn to explore data in order to make data-driven business decisions, including budgeting, pricing, investment and business planning.

FAMS327 — Machine Learning for Finance and Accounting

This course is designed to teach students how to analyse different types of data for knowledge extraction. Students are expected to learn how to recognise patterns, and to select, use and evaluate methodologies and algorithms for various applications in the fields of Finance and Accounting.