Finance and Accounting
Study programme title in Est.
Ärirahandus ja majandusarvestus
Study programme title in Engl.
Finance and Accounting
TalTech study programme code
TARM02
MER study programme code
1996
Study programme version code
TARM02/25
Faculty / college
M - School of Business and Governance
Head of study programme/study programme manager
Kaidi Kallaste
Language of instruction
Estonian
Study level
Master study
ECTS credits
120
Self-paid study programme
no
Nominal study period
4 semesters
Study programme group
Business and Administration
Broad area of study
Business, Administration and Law
Study field
Business and administration
Curriculum group
Finance, banking, insurance
Granting the right to conduct studies in the study programme group
õppe läbiviimise õigus
Validity date of the right to conduct studies in the study programme group
tähtajatu
No. of the decision granting the right to teach in the study programme group
112
Access conditions
Bachelor degree or education of corresponding qualification in accordance with admission requirements of TalTech.
Study programme aims and objectives
The aim of this programme is to:
- expand and deepen the knowledge about corporate finance, accounting and auditing that students have acquired during their bachelor’s studies;
- provide students with theoretical knowledge and methodological skills which correspond to the master’s level and enable working as a highly qualified specialist in financial enterprises or in the field of financial management, accounting or auditing;
- develop the ability of systematic thinking and analytical and discussion skills required for successful employment in the contemporary multi-cultural business environment and create preconditions for continuing education at doctoral level.
The School of Business and Governance is entitled to teach specialised courses in the English language in the scope of 18 ECTS credits within the programme, in addition to teaching a course of a foreign language. Show more...
- expand and deepen the knowledge about corporate finance, accounting and auditing that students have acquired during their bachelor’s studies;
- provide students with theoretical knowledge and methodological skills which correspond to the master’s level and enable working as a highly qualified specialist in financial enterprises or in the field of financial management, accounting or auditing;
- develop the ability of systematic thinking and analytical and discussion skills required for successful employment in the contemporary multi-cultural business environment and create preconditions for continuing education at doctoral level.
The School of Business and Governance is entitled to teach specialised courses in the English language in the scope of 18 ECTS credits within the programme, in addition to teaching a course of a foreign language. Show more...
Learning outcomes of the study programme
Upon successful completion of the curriculum, the graduate:
- has acquired systematic knowledge and skills in financial management, accounting and auditing required for working in domestic and international businesses;
- understands and is able to systematically explain relevant terminology, concepts, basic theories and methods, environments, development trends, topical problems and best practices of financial management, accounting and auditing;
- know international harmonisation and standardisation of financial accounting and reporting; and regulation of financial accounting and taxation in the European Union;
- formulates and analyses problems of accounting and business finance, taking into consideration inter-functional relationships;
- synthesizes acquired knowledge and skills while solving business and work-related problems, and defines and critically compares alternative activities for making optimal solutions;
- is able to initiate, carry out and take responsibility for activities targeted at solving problems that require professional qualification either working independently or in a team;
- evaluates critically her/his own knowledge and skills; knows and uses the methods of independent learning. Show more...
- has acquired systematic knowledge and skills in financial management, accounting and auditing required for working in domestic and international businesses;
- understands and is able to systematically explain relevant terminology, concepts, basic theories and methods, environments, development trends, topical problems and best practices of financial management, accounting and auditing;
- know international harmonisation and standardisation of financial accounting and reporting; and regulation of financial accounting and taxation in the European Union;
- formulates and analyses problems of accounting and business finance, taking into consideration inter-functional relationships;
- synthesizes acquired knowledge and skills while solving business and work-related problems, and defines and critically compares alternative activities for making optimal solutions;
- is able to initiate, carry out and take responsibility for activities targeted at solving problems that require professional qualification either working independently or in a team;
- evaluates critically her/his own knowledge and skills; knows and uses the methods of independent learning. Show more...
Graduation requirements
Completion of the curriculum in the required amount, and the successful defence of the graduation paper in conformity with the requirements set by the TalTech Senate.
In order to obtain Cum Laude diploma the graduation paper must be defended for the grade "5" and the weighted average grade must be at least 4,60, where all grades from diploma supplement are taken into account. Show more...
In order to obtain Cum Laude diploma the graduation paper must be defended for the grade "5" and the weighted average grade must be at least 4,60, where all grades from diploma supplement are taken into account. Show more...
Degrees conferred
Master of Arts in Social Sciences (accounting), Master of Arts in Social Sciences (finance)
Study programme version structure :
Module type
total ECTS credits
General studies
6.0
Core studies
18.0
Special studies
66.0
Free choice courses
6.0
Graduation thesis
24.0
Total
120.0
- +MAIN SPECIALITY 1: finance
- +MODULE: General Studies 6.0 ECTS credits (General studies)AimsThe aim of this module is to develop an understanding of the
fundamentals of conducting scientific research (including at the master’s thesis level) and to enhance skills for reviewing and interpreting professional scientific publications in English. This module serves as an essential prerequisite for students to conduct independent research, both within their studies and in their future professional activities. Show more...Learning outcomesThe student:
- searches, analyses, evaluates and connects relevant information from academic articles;
- follows the main requirements set for the thesis plan and thesis, including ethical requirements;
- formulates research problem and objective of the work;
- selects methods suitable for achieving the objective of the work;
- presents written material in summarised form in front of the class. Show more...Compulsory courses:Course titleCourse codeECTS creditsHours per weekLecturesPracticesExercisesE/P-F.Ass./ Gr.Ass.Teaching semesterTotal: 6.0 ECTS credits - +MODULE: Core Studies 18.0 ECTS credits (Core studies)AimsThe aim of this module is to provide knowledge requisite and practical skills for a financial specialist and (chief) accountant.Learning outcomesThe student:
- know the main concepts of business finance.
- determines the fair value of different asset classes (shares, real estate and bonds) and interpret the results;
- know the contemporary methods of financial management, cost accounting and management;
- can interpret information presented in financial statements and evaluate an entity’s financial position and possible developments, find cause-effect relationships between indicators and is able to make an initial assessment of an entity’s value. Show more...Compulsory courses:Course titleCourse codeECTS creditsHours per weekLecturesPracticesExercisesE/P-F.Ass./ Gr.Ass.Teaching semesterTotal: 18.0 ECTS credits - +MODULE: E1 Special studies Business Finance 36.0 ECTS credits (Special studies)AimsThe aim of this module is to:
- provide systematic knowledge of the operation of financial markets and of the financial instruments traded there;
- provide in-depth knowledge of the main types of securities, portfolio theory and risk management;
- provide knowledge and skills for the assessment of assets and enterprises;
- provide skills for using knowledge obtained in specialty subjects for analysis of financial markets and evaluating financial management of an enterprise, discovering and removing shortcomings;
- introduce different financial technology and sustainable finance solutions/applications. Show more...Learning outcomesThe student:
- knows how financial markets work and about the financial instruments traded there;
- creates an investment portfolio based on the chosen investment strategy;
- evaluates the risk and performance of an investment portfolio using quantitative tools;
- uses the methods and (theoretical) knowledge learned in specialty subjects for analysis of financial markets and evaluating the financial management of an enterprise and making amendment proposals.
- choose a suitable method for investment project appraisal or for valuing a company and for calculating a suitable cost of capital;
- determine the optimal capital structure for maximizing enterprise value, optimal financing mix for the investment project and optimal dividend policy;
- evaluates critically different financial technology and sustainable finance solutions/applications. Show more...Compulsory courses:Course titleCourse codeECTS creditsHours per weekLecturesPracticesExercisesE/P-F.Ass./ Gr.Ass.Teaching semesterTotal: 36.0 ECTS credits - +MODULE: E2 Optional Courses of Special Studies Business Finance 30.0 ECTS credits (Special studies)AimsThe aim of this module is to provide in-depth knowledge and develop necessary skills in subject fields chosen by student.Learning outcomesThe student:
- know rules in chosen subject field;
- is able to use knowledge for analysis,
planning and implementation. Show more...Elective courses:Course titleCourse codeECTS creditsHours per weekLecturesPracticesExercisesE/P-F.Ass./ Gr.Ass.Teaching semesterMMA52603.03.01.51.50.0EK1Total: at least 30.0 ECTS credits - +MODULE: Free choice courses 6.0 ECTS credits (Free choice courses)AimsThe module provides students with a possibility to choose subjects according to her/his special interests and future specialisation preferences.Learning outcomesKnowledge and abilities connected to student`s special interests according to the future specialisation preferences.
- +MODULE: Graduation Thesis 24.0 ECTS credits (Graduation thesis)AimsThe aim of the graduation thesis is to provide students experiences
of preparing an independent research paper dealing with and solving an integrated topical theoretical or practical business problem, and skills for applying theoretical knowledge to solving practical problems on the level of academic master`s degree. The topic for research shall be selected according to the future specialisation. Show more...Learning outcomesThe student:
- formulates a research problem corresponding to the main speciality, sets the aim of the thesis and defines research questions/tasks/hypotheses;
- chooses appropriate scientific and field-specific literature, analyses and synthesizes their content;
- chooses appropriate methodology to fulfill the aim of the thesis;
- collects, processes and analyses relevant information;
- uses professional knowledge to solve the research problem, interpret the results and provide conclusions;
- formats the thesis according to pre-set requirements using scientific language and professional terminology and following proper citing principles;
- presents and justifies one`s viewpoints in both written and oral form. Show more... - +STANDARD STUDY PLAN: Autumn daytime study
- +MAIN SPECIALITY 3: accounting
- +MODULE: General Studies 6.0 ECTS credits (General studies)AimsThe aim of this module is to develop an understanding of the
fundamentals of conducting scientific research (including at the master’s thesis level) and to enhance skills for reviewing and interpreting professional scientific publications in English. This module serves as an essential prerequisite for students to conduct independent research, both within their studies and in their future professional activities. Show more...Learning outcomesThe student:
- searches, analyses, evaluates and connects relevant information from academic articles;
- follows the main requirements set for the thesis plan and thesis, including ethical requirements;
- formulates research problem and objective of the work;
- selects methods suitable for achieving the objective of the work. Show more...Compulsory courses:Course titleCourse codeECTS creditsHours per weekLecturesPracticesExercisesE/P-F.Ass./ Gr.Ass.Teaching semesterTotal: 6.0 ECTS credits - +MODULE: Core Studies 18.0 ECTS credits (Core studies)AimsThe aim of this module is to provide knowledge requisite and practical skills for a financial specialist and (chief) accountant.Learning outcomesThe student:
- know the main concepts of business finance.
- determines the fair value of different asset classes (shares, real estate and bonds) and interpret the results;
- know the contemporary methods of financial management, cost accounting and management;
- can interpret information presented in financial statements and evaluate an entity’s financial position and possible developments, find cause-effect relationships between indicators and is able to make an initial assessment of an entity’s value. Show more...Compulsory courses:Course titleCourse codeECTS creditsHours per weekLecturesPracticesExercisesE/P-F.Ass./ Gr.Ass.Teaching semesterTotal: 18.0 ECTS credits - +MODULE: E3 Special Studies Accounting 48.0 ECTS credits (Special studies)AimsThe aim of this module is to:
- provide systematic knowledge of the history of business accounting, contemporary concepts and the prospective trends;
- provide in-depth knowledge of the characteristics and reasons of business accounting and taxation across countries;
- provide knowledge and skills for drawing up and auditing consolidated accounts;
- provide skills for using knowledge obtained in specialty subjects for evaluating the accounting system of a specific enterprise, discovering and removing shortcomings;
- provide an overview of business information systems and the business development process within a company;
- introduce information technology opportunities for data visualization to improve internal reporting. Show more...Learning outcomesThe student:
- knows the history of business accounting and its prospective trends;
- knows international harmonisation and standardisation of financial accounting and reporting; and regulation of financial accounting and taxation in the European Union;
- draws up consolidated accounts;
- knows the content, objectives and methods of auditing.
- uses the methods and (theoretical) knowledge learned in specialty subjects for evaluating the accounting system of a specific enterprise and making amendment proposals;
- as a business representative has the knowledge required for the project management of information systems;
- creates simpler internal visualized reports in MS Power BI. Show more...Compulsory courses:Course titleCourse codeECTS creditsHours per weekLecturesPracticesExercisesE/P-F.Ass./ Gr.Ass.Teaching semesterMMA52603.03.01.51.50.0EK1Total: 48.0 ECTS credits - +MODULE: E4 Optional Courses of Special Studies Accounting 18.0 ECTS credits (Special studies)AimsThe aim of this module is to provide in-depth knowledge and develop necessary skills in subject fields chosen by student.Learning outcomesThe student:
- knows rules in chosen subject field;
- is able to use knowledge for analysis,
planning and implementation. Show more...Elective courses:Course titleCourse codeECTS creditsHours per weekLecturesPracticesExercisesE/P-F.Ass./ Gr.Ass.Teaching semesterTotal: at least 18.0 ECTS credits - +MODULE: Free choice courses 6.0 ECTS credits (Free choice courses)AimsThe module provides students with a possibility to choose subjects according to her/his special interests and future specialisation preferences.Learning outcomesKnowledge and abilities connected to student`s special interests according to the future specialisation preferences.
- +MODULE: Graduation Thesis 24.0 ECTS credits (Graduation thesis)AimsThe aim of the graduation thesis is to provide students experiences
of preparing an independent research paper dealing with and solving an integrated topical theoretical or practical business problem, and skills for applying theoretical knowledge to solving practical problems on the level of academic master`s degree. The topic for research shall be selected according to the future specialisation. Show more...Learning outcomesThe student:
- formulates a research problem corresponding to the main speciality, sets the aim of the thesis and defines research questions/tasks/hypotheses;
- chooses appropriate scientific and field-specific literature, analyses and synthesizes their content;
- chooses appropriate methodology to fulfill the aim of the thesis;
- collects, processes and analyses relevant information;
- uses professional knowledge to solve the research problem, interpret the results and provide conclusions;
- formats the thesis according to pre-set requirements using scientific language and professional terminology and following proper citing principles;
- presents and justifies one`s viewpoints in both written and oral form. Show more... - +STANDARD STUDY PLAN: Autumn daytime study