Diploma in Accounting and Financial Management

Duration | 2 Years

Diploma in Accounting
and Financial Management

Overview

Purpose

The Diploma in Accounting and Financial Management is Accredited by the Cyprus Agency of Quality Assurance and Accreditation in Higher Education (CYQAA – ΔΙΠΑΕ).

Upon successful completion of the program, you will be able to:

Think laterally, critically, innovatively, and creatively, and make connections among diverse fields of study in analysing real-world problems

Apply broad and coherent knowledge of the theoretical and professional disciplines of accountancy and financial management that you were learning during your studies

Choose information within a complex professional setting, integrating technical and conceptual knowledge, and interpersonal skills to work effectively within the financial services industry.

Interact productively with co-workers and work effectively in groups

Acquire a global perspective based on an understanding of both the domestic and global environments of the organisations

Gain a good understanding of the ethical and environmental ramifications of accounting and financial decisions

Use appropriate tools in a creative manner to enhance improved decision-making within business constraints

Acquire analytical and research skills to deal with accounting and finance problems

Evaluate the performance and financial situation of organisations

Build and demonstrate the ability to act as a self-directed learner who is able to learn from reflection on experiences of study and employment

Propose, develop, and enact work practices and conceptual frameworks and encourage performance feedback to ensure professional development

Duration: 2 Years

Qualification Awarded: Diploma in Accounting and Financial Management

Language: English

Mode of Study: Full-time or Part-time

Minimum entry requirement: completion of six (6) years of secondary education in countries where secondary education is considered equivalent to that of the Republic of Cyprus.

Fees: €5.500 / year

English language requirements: Proficiency in English (graduation from an English-speaking institution, TOEFL, IELTS or similar standardized test)

Location: Nicosia

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Details

General Information

Flexible Selection of Modules | You can take modules in any sequence throughout the programme to fit your own schedule as long as you have the necessary prerequisites that may be required by a module.

ECTS Composition | To graduate, you are required to earn 120 ECTS credits

Admissions | You can join the program at the beginning of either of the two semesters

The Institute admits students irrespective of nationality, race, religion, or gender, provided that they meet the predefined admission criteria of each program of study. The general admission criteria are based on the type and quality of previous studies, the grade obtained in previous studies, and the suitability of the candidate for the program of study that has been applied for.

 

  Completion of six (6) years of secondary education in countries where secondary education is considered equivalent to that of the Republic of Cyprus with a minimum average mark of 14/20.

Proficiency in English (graduation from an English-speaking institution, TOEFL, IELTS or similar standardized test)

Recommendation letters (2)

Our dedicated Admissions Team will guide you every step of the way by answering all of your questions and helping you choose your modules based on their prerequisites. Please contact us at [email protected] or +35722274470.

Program Structure

Semesters
Course Code
Course Title
Credits
ECTS
Semester 1 (30 ECTS)
BUS101
Business Awareness
3
6
Semester 1 (30 ECTS)
ENG101
Business English
3
6
Semester 1 (30 ECTS)
MAT101
Business Mathematics & Statistics
3
6
Semester 1 (30 ECTS)
ECO100
Principles of Economics
3
6
Semester 1 (30 ECTS)
ACC205
Accounting Information Systems
3
6
Semester 2 (30 ECTS)
ACC101
Introduction to Financial Accounting
3
6
Semester 2 (30 ECTS)
ACC102
Introduction to Management Accounting
3
6
Semester 2 (30 ECTS)
ENG100
Principles of Management
3
6
Semester 2 (30 ECTS)
FIN101
Principles of Finance
3
6
Semester 2 (30 ECTS)
LAW201
Principles of Business Law
3
6
Semester 3 (30 ECTS)
ACC105
Advanced Financial Accounting
3
6
Semester 3 (30 ECTS)
ACC211
Advanced Managerial Accounting
3
6
Semester 3 (30 ECTS)
LAW216
Corporate Law
3
6
Semester 3 (30 ECTS)
ACC213
Corporate Governance, Compliance, and Business Ethics
3
6
Semester 3 (30 ECTS)
ACC210
Business and Personal Taxation
3
6
Semester 4 (30 ECTS)
ACC215
Audit Principles
3
6
Semester 4 (30 ECTS)
ACC208
Advanced Financial Reporting
3
6
Semester 4 (30 ECTS)
FIN210
Financial Theory & Reporting
3
6
Semester 4 (30 ECTS)
FIN206
Investment Analysis
3
6
Semester 4 (30 ECTS)
FIN205
Financial Management
3
6

Module Aims

Year 1

This course delves into what business means, acknowledging that its definition varies widely among individuals. It walks through the comprehensive structure of a business, starting from its inception. Along the way, it provides insights into various marketing strategies and understand the crucial role of finance in the business world. By the course’s conclusion, students will have a clear understanding of the pivotal functions that managers fulfil within a business framework and the strategies for thriving in a global marketplace. This journey will equip students with a deeper appreciation of the complexities behind running a successful business and the multifaceted nature of entrepreneurship.

The first section of this course focuses on the interplay between reading and writing, guiding students through the practices and conventions essential for academic and professional writing. It emphasizes the writing process, encouraging students to draw upon ideas they encounter to craft, refine, and articulate their arguments and viewpoints. Throughout the section, students will explore how effective thinking and writing are achieved by understanding the scope of writing, keeping an idea diary, drafting, engaging in iterative reading, and revising, as well as editing and proofreading, culminating in a polished final version. Designed to bolster basic writing skills, the section also aims to enhance students’ critical thinking capabilities. This prepares them to adeptly tackle a variety of writing tasks, including academic essays, research papers, business reports, proposals, memos, emails, letters, resumes, and cover letters. Additionally, students will learn strategies for writing compelling articles, blogs, and social media posts, aimed at achieving academic and business visibility. The second section of this course is designed to equip students with the essential communication skills required in a diverse and rapidly changing business environment. The section emphasizes the development of effective, ethical, and efficient communication strategies that can be applied across a wide range of professional settings. Through a blend of theoretical understanding and practical application, students will learn to craft persuasive messages, engage with various stakeholders, and leverage digital communication tools to achieve business objectives.

This course addresses fundamental questions across key mathematical topics, including determinants and matrices, systems of linear equations, functions, derivatives and their applications, optimization problems, and both indefinite and definite integrals. Additionally, it provides an introductory exploration of probability theory. The curriculum encompasses a comprehensive overview of the core principles of mathematical statistics, alongside widely employed statistical techniques for data processing and analysis. Through the course, practical examples are strategically integrated to demonstrate the relevance and application of the discussed concepts and methodologies in fields such as economics, finance, and business market data analysis.

The aim of this course is to acquaint students with the fundamental principles of macroeconomics and microeconomics, enabling them to comprehend economic occurrences and the behavior of different economic actors. Students will learn to assess the effects on markets and devise suitable strategies accordingly. They will be equipped with economic analytical tools for conducting competitive analyses of companies and industries and will gain familiarity with various economic indicators. The curriculum is divided into sections on microeconomics, which concentrates on the decision-making processes of individuals and firms, and macroeconomics, which addresses broader economic issues such as interest rates and government expenditure. Through this course, we will develop economic instruments to scrutinize and judge public policies, poverty, welfare, and other practical subjects.

This is an introductory course designed to provide a foundational understanding of computer technology and its application in today’s world. It covers the basic concepts of computer hardware, software, and the internet, providing students with the skills necessary to effectively use computers in their academic and professional lives. Through lectures, hands-on labs, and projects, students will explore the workings of personal computers, the fundamentals of operating systems, word processing, spreadsheets, presentation software, and the principles of the internet and web technology.

Introduction to Financial Accounting offers an immersive exploration of the core principles and evolving dynamics of financial accounting. It is an introductory course designed to equip students with a comprehensive understanding of the principles and practices underpinning financial accounting. It also lays the groundwork for understanding the construction and interpretation of financial statements, which include the balance sheet, income statement, and cash flow statement. Through a combination of theoretical concepts and practical applications, students will learn how to record, analyze, and report financial information, adhering to the International Financial Reporting Standards (IFRS).

Managerial accounting is the field of accounting aimed at providing managers with financial information to help them make decisions and maintain effective control of their organizations. It is an essential tool that enhances a manager’s ability to make effective economic decisions. This course delves into the internal accounting practices crucial for business managers. The module offers an in-depth exploration of the central concepts, techniques, and contemporary applications associated with management accounting. With a focus on internal decision-making processes, it aims to equip students with the analytical skills and tools crucial for presenting relevant financial and non-financial information to internal stakeholders.

Principles of Management is an introductory course designed to explore the fundamental aspects of effective management in business. Students will delve into the core concepts and functions of management, including planning, organizing, leading, and controlling within various organizational contexts.

This course introduces students to the fundamental principles of finance, emphasizing the decision-making processes that affect the management of personal and corporate finances. Topics include financial analysis, time value of money, risk and return, capital budgeting, financial markets and institutions, and international finance. Through lectures, case studies, and financial modelling, students will develop a solid foundation in financial theory and practice.

This course provides an in-depth exploration of the fundamental aspects of business law in Cyprus. It is designed to equip students with a thorough understanding of the legal framework governing businesses in Cyprus, including corporate law, commercial transactions, employment law, and intellectual property. The course will also cover recent developments in EU law and their impact on Cypriot business practices.

Year 2

This course is designed to equip you with a comprehensive understanding of the pivotal role that management accounting plays in the strategic planning and control of an organization. It emphasizes the significance of performance management and measurement, exploring this through various theoretical frameworks and practical applications. A key focus of the course is to offer you insights into the dynamic nature of management accounting, underscoring the necessity for its continuous evolution to meet the ever-changing demands of the business world. You will be engaged with current issues and trends in management accounting, providing them with a contemporary perspective that highlights the field’s adaptability and relevance in today’s fast-paced business environment. Through this curriculum, you will not only gain theoretical knowledge but also practical skills, enabling them to apply management accounting principles effectively in real-world scenarios. This approach ensures that you are well-prepared to contribute to and lead the financial management and strategic decision-making processes within diverse organizations.

This course offers an in-depth exploration of the realm of accounting, focusing primarily on the utilization of accounting information to make informed business decisions. Through this curriculum, students will delve into the context and environment where accounting data is both generated and applied. Instead of concentrating solely on the creation of accounting data, the course emphasizes its interpretation and application. Key areas of study include the analysis of source documents, the process of recording business transactions in journals and transferring these records to ledgers. Furthermore, learners will become adept at preparing trial balances, assimilating adjustment data, and finalizing worksheets. Another central objective of this course is to tackle challenges in financial accounting. This includes the intricacies of measuring and reporting on assets and liabilities. By the conclusion of the course, students should be proficient in leveraging accounting data to address managerial challenges, assess financial health, and decode an organization’s financial framework.

Cyprus Corporate Law is an advanced course designed to provide students with an in-depth understanding of the legal framework governing corporations in Cyprus. This course will cover the formation, operation, and dissolution of corporations, along with the roles and responsibilities of directors, shareholders, and other stakeholders. Key topics include corporate governance, financial regulations, mergers and acquisitions, and insolvency procedures.

The module aims to help you develop a critical understanding of the nature, behaviour, and outcomes associated with the social, economic, political, and legal systems that govern the modern corporation. It enhances the understanding of the key roles and relationships through which corporate governance is realised and examines similarities and differences across national corporate governance systems. Also, you will learn to recognise the key pressures for reform in national corporate governance systems. Additionally, through this module, you will have the opportunity to appreciate some of the ethical issues which arise about corporate activity.

This comprehensive course on taxation provides students with a foundational understanding of the principles and applications of tax law for both personal and business contexts. Students will explore the structure of the tax system, learn about different types of taxes, and study the implications of tax decisions for individuals, small businesses, and large corporations. This course also delves into strategic tax planning, compliance, and the ethical considerations in tax practice.

Audit Principles is an essential course for students interested in a career in accounting, focusing on the theory and practice of auditing. This course covers the fundamental principles and techniques used in auditing financial statements and other accounting records. It introduces students to audit planning, execution, reporting, and follow-up procedures, as well as the legal and ethical responsibilities of auditors.

Advanced Financial Reporting is designed for students seeking a deep dive into the complexities of financial reporting standards and practices. This course provides a thorough examination of the issues and challenges in preparing, presenting, and analyzing financial statements. It covers advanced topics in financial accounting, including consolidation, foreign currency transactions, derivatives, and segment reporting. The course also explores emerging trends and recent developments in the field, such as fair value accounting and reporting in a digital environment.

Financial Theory & Reporting is an advanced course designed to deepen students’ understanding of financial principles and the frameworks used in financial reporting and analysis. This course integrates financial theory with practical application, covering topics such as financial statement analysis, valuation techniques, and the theoretical foundations of financial decision-making. Students will also explore the impact of regulatory environments on financial reporting and the role of international standards.

This course provides an in-depth exploration of investment analysis and portfolio management, blending foundational theories with practical applications. Students will engage with the latest techniques and strategies used in the investment industry and examine the major issues that investors face in today’s global market environment.

Financial Management is an advanced course that focuses on the critical aspects of managing an organization’s finances. It offers students a robust framework for understanding and applying financial principles to make informed and strategic financial decisions. This course covers financial analysis, capital budgeting, capital structure, dividend policies, and working capital management, with a strong emphasis on risk assessment and value creation.

Assessment

Assessment

Module assessment usually comprises a comprehensive final exam and continuous assessment. Continuous assessment can include amongst others, mid-terms, projects, and class participation. Letter grades are calculated based on the weight of the final exam and the continuous assessment and the actual numerical marks obtained in these two assessment components. Based on the module grades the student’s semester grade point average (GPA) and cumulative point average (CPA) are calculated.

 

Examinations | 90%
Assignments/Tests/Class Participation | 10%

Faculty

Permanent Faculty

Diploma in Accounting & Financial Management

Dr. Stelios Platis

Member of Academic Committee

Diploma in Accounting & Financial Management

Dr. Panikkos Poutziouris

Professor in Entrepreneurial Management

Diploma in Accounting & Financial Management

Marios Mortis

Lecturer & Diploma Programme Coordinator

Adjunct Faculty

Fees & Funding

Programme Fees

Programme Fees

Total of €11,250 for the Two Years

 

Application fee: €50

Registration: €200

Tuition fees: €11,000

Cypriot students are eligible to apply for a government subsidy. Learn more here

Financial Aid

Need more information on Awards, Scholarships and Financial Aid?

At EIMF, we are committed to making education accessible and affordable for all. To this end, we offer a comprehensive array of scholarships and financial aid options, designed to support students from diverse backgrounds and financial circumstances.

 

Scholarships

Our scholarships are awarded in recognition of academic excellence, leadership qualities, and exceptional talents. Our offerings include:

Merit-based Scholarships: Rewarding academic achievements.
Need-based Scholarships: Assisting individuals facing financial difficulties.
Specialised Scholarships: Catering to a variety of other needs and criteria.

 

Financial Aid

Acknowledging that each student’s financial situation is unique, we provide bespoke financial aid packages. These can encompass:

Grants: Non-repayable financial assistance.
Work-Study Programmes: Opportunities for earning while learning.
Flexible Payment Plans: Customised to alleviate financial stress.

 

Apply for the scholarship here!

 – The €50 application fee should accompany your application form

 – The €200 registration fee should be paid before the program starts. This is not refundable

 – The balance is payable in eight equal installments

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