Diploma in Accounting and Financial Management

Duration: 2 Years

Diploma in Accounting
and Financial Management

Overview

Purpose

The Diploma is Accredited by CYQAA. Exemptions are awarded for ACCA, CIMA, AAT, and ICAEW modules.

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

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)
ACC101
Introduction to Financial Accounting
3
6
Semester 1 (30 ECTS)
ACC102
Introduction to Management Accounting
3
6
Semester 1 (30 ECTS)
FIN101
Principles of Business Finance
3
6
Semester 1 (30 ECTS)
MGM101
Principles of Management
3
6
Semester 1 (30 ECTS)
ECO100
Principles of Economics
3
6
Semester 2 (30 ECTS)
ACC105
Advanced Financial Accounting
3
6
Semester 2 (30 ECTS)
ACC211
Advanced Managerial Accounting
3
6
Semester 2 (30 ECTS)
BUS100
Business Environment
3
6
Semester 2 (30 ECTS)
FIN201
Corporate Financial Theory & Reporting
3
6
Semester 2 (30 ECTS)
LAW201
Principles of Business Law (Cyprus Variant)
3
6
Semester 3 (30 ECTS)
FIN205
Financial Management
3
6
Semester 3 (30 ECTS)
MAT101
Business Mathematics & Statistics
3
6
Semester 3 (30 ECTS)
ACC210
Business and Personal Taxation
3
6
Semester 3 (30 ECTS)
ACCN208
Advanced Financial Reporting
3
6
Semester 3 (30 ECTS)
LAW216
Corporate Law (Cyprus Variant)
3
6
Semester 4 (30 ECTS)
ACC215
Audit Principles & Procedures
3
6
Semester 4 (30 ECTS)
ACC205
Accounting Information Systems
3
6
Semester 4 (30 ECTS)
ENG 101
Academic and Business Writing Skills
3
6
Semester 4 (30 ECTS)
FIN206
Corporate Performance Management
3
6
Semester 4 (30 ECTS)
ACC213
Corporate Governance, Compliance and Business Ethics
3
6

Module Aims

Year 1

This module introduces the field of accounting and the use of accounting information as a basis for business decisions. It provides you with a better understanding of the environment in which accounting information is developed and used. More emphasis is placed on interpretation and use as opposed to the preparation of accounting information. Topics in analysing source documents, recording business transactions in a journal, and posting entries in a ledger. Furthermore, the module looks into how to prepare a trial balance, gather adjustment data, and complete a worksheet are covered, as well as how to prepare financial statements and post-closing entries.

This module is designed to assist you in obtaining an understanding of the nature of cost accounting, and the flow of costs in an accounting system. You will learn how managerial accounting is used as a basis of decision-making while the module will enable you to attain solid knowledge on how managerial accounting assists in controlling, planning, and performance evaluation.

The aim of this module is to provide you with a basic knowledge of the role of financial markets in a modern economy, the functions of financial intermediaries such as banks, brokers, and mutual funds, and the characteristics of the financial instruments traded in these markets. You will learn how financial markets operate and consider the economic principles that underlie the operations of these markets and the history, regulatory framework, and risks of the financial system.

Management refers to the organization and coordination of work to produce a desired result. A manager is a person who practices management by working with and through people in order to accomplish his or her organization’s goals. When you think of the term manager you may be imagining your supervisor as he or she hires and terminates employees and makes major decisions above your authority. However, although you may not view yourself in this way, you yourself may also be a manager. In fact, many of us practice management skills in the workplace every day. You may have a team of employees that you manage, or lead a project that requires management strategy or demonstrate leadership qualities among your peers. These are all scenarios that require you to apply the principles of management. In this course, you will learn to recognize the characteristics of proper management by identifying what successful managers do and how they do it. Understanding how managers work is just as beneficial for the subordinate employee as it is for the manager. This course is designed to teach you the fundamentals of management as they are practiced today.

The purpose of this module is to introduce you to the basic principles of macroeconomics and microeconomics so that you can understand economic events and the behaviour of the various economic agents involved, analyse their impact on markets, and propose appropriate courses of action at the company level. To do this, you should be able to utilise the tools of economic analysis to perform company and industry competitive analysis and should understand and be conversant with the various economic indicators used.

 

The module is split between the study of microeconomics, which focuses on the decision-making of individual consumers and firms, and macroeconomics with focuses on aggregate-level economic questions such as interest rates, and government spending, among others. In this module, we will develop economic tools to analyse and evaluate public policies, poverty and welfare questions, and other applied topics.

The aims of the module are to comprehend the objectives, functions, regulatory frameworks, and practices of financial reporting and to learn and apply the relevant techniques and methods in the preparation and presentation of financial accounting reports in accordance with prescribed regulations. Also, participants will attain knowledge of the theories, techniques, and methods of financial statement analysis in order to assess the financial performance and position of business entities.

The aim of this module is to enhance your understanding of cost accounting in relation to its systems and analysis of its data to assist you in your future careers to meet your duties and responsibilities. It would cover cost management topics to ensure full comprehension of basic concepts such as cost accounting systems, cost management systems, profit management systems, and investment management systems. These concepts will provide an in-depth understanding of the array of timely and relevant information provided by management accounting necessary for the survival and success of organizations in today’s dynamic environment.

The module aims at giving you an overall understanding of the business environment. It covers areas such as business trends, global environments, business’ diversity, small businesses, business management, and marketing and managing financial resources for businesses. Also, the module will examine the purpose and types of businesses that exist and the rights and responsibilities of the key stakeholders, as well as provide an understanding of the importance of professional ethics and ethical management within the finance function.

The aim of this module is to provide you with a good understanding of the theory of asset pricing in capital markets. This module forms the basis on which more specialised financial courses are based and is therefore rather quantitative as many of the important problems of the module must be backed by theoretical and mathematical methods.  The module is divided into three major parts dealing with the valuation of fixed-income securities in part one, the valuation of equities in part two and the valuation of derivatives in part three.

This module is meant to provide a general introduction to the legal environment that affects individuals, businesses, and business transactions. It also provides a general introduction to the Cyprus legal system.

 

The aim of the module is to provide you with an understanding of legal history, legal institutions, and the most important principles and rules of the court procedure and evidence as well as the general principles of the law of contract which are relevant to business and professional modules.

Year 2

This module aims at giving you the knowledge and skills in relation to investment, financing, and dividend policy decisions. The module offers knowledge and understanding of financial management techniques suitable for all organisations. Also, it provides an understanding of how financial resources are acquired from external capital markets and generated from internal operations.

Moreover, during the module, you will have the opportunity to examine the effective utilisation and control of those funds within the organisation by applying various forecasting techniques to evaluate its short and long-term needs. Furthermore, you will acquire the skills to assess the capital structure of an organisation and relate it to its most desirable capital budgeting based on the cost of capital incurred.

This module is divided into two parts Business Mathematics (Part A) and Statistics (Part B). Part A enables you to know the financial formulas, fractions; measurements involved in interest calculation, hire rates, salary calculation, tax calculation etc. which help complete business tasks efficiently. Whereas Part B enables you to make various kinds of analysis on the basis of accurate estimates that help a business deal with uncertainties by forecasting seasonal, cyclic, and general economic fluctuations.

The aim of this module is to provide an overview of the Cyprus taxation system. More specifically, the module will discuss the main tax law provisions and show their practical application. During this module, you will learn how to compute the tax liabilities for individuals and companies. Policy implications of taxation are also reviewed. Additionally, the module provides an overview of the ethical issues arising while performing tax work. Generally, the module provides a foundation in the core areas of tax, to provide a reliable basis to enhance advanced study in taxation.

The aim of this module is to discuss, apply and evaluate the concepts, principles, and practices that underpin the preparation and interpretation of corporate reports in various contexts, including the ethical assessment of management’s stewardship and the information needs of a diverse group of stakeholders.

The aims of the module are to familiarise yourself with the principles of corporate law, enable you to understand the practical application of these principles and develop your critical and legal thinking skills.

The aim of this module is to introduce you to the theory and practices of auditing, including professional standards, and to describe the modern auditing process (internal control, evidence gathering, fraud, statistical sampling). The module will examine the nature of audit risk and its component parts and evaluate a company’s internal control systems and environment.

The aim of the module is to expose students to the area of accounting information systems focusing on E-Business, databases, data modelling, and design, systems development, information systems controls and security, computer fraud, general ledger, and reporting systems. The module also covers the accounting cycles in an information systems environment. You will have the opportunity to use accounting software packages to apply your accounting knowledge to real-life situations.

The skills taught in this course will empower students to succeed in any college-level degree or professional field. Students will learn to conduct rigorous academic research and express their ideas clearly in an academic format, whilst owning the content of their writing without plagiarism. In addition, students will learn tips and techniques for developing successful academic and business documents such as essays, research papers, journals, reports, proposals, e-mail, memos, letters, resumes and cover letters. Lastly, students will learn the latest trends in social media writing which will help them to achieve exposure and excellence in their academic and career development objectives.

The module introduces the fundamental principles of investment analysis and the theory and techniques of portfolio management and covers the major issues currently of interest to investors.

The syllabus includes the following: Global investment environment, portfolio theory, and practice fixed income securities, security analysis, derivative securities analysis, derivative securities market, evaluation of asset management, and applied portfolio management.

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 in relation to corporate activity.

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 and Financial Management

Dr. Stelios Platis

Member of Academic Committee

Dr. Panikkos Poutziouris

Dr. Panikkos Poutziouris

Professor in Entrepreneurial Management

Diploma in Accounting and 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?

Our Scholarship and Financial Aid program aims to provide prospective and enrolled students with information and resources to financially support their educational goals. This takes the form of academic scholarships, athletics scholarships, and family/need-based financial aid. 

 – 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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