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Master's Programme in Accounting
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Curriculum 2026–2028
About the programme
Degree level learning goals
MSc degree studies consist of programme studies and elective studies. In some programmes, there is also a compulsory minor. The scope of the modules varies between programmes.
In addition to the goals stated in Government Decree on University Degrees (794/2004) 7 § the aim of the Master of Science degree in Economics and Business Administration is to provide students with
- a comprehensive understanding of the area of specialisation, including its potential to address environmental, economic, and social sustainability challenges;
- the ability to identify and analyse sustainability challenges and business opportunities, and creatively develop solutions;
- the ability to independently retrieve, assess, apply, and create knowledge in the field of business and economics;
- the ability to reflect on the ethical foundations and implications of business decision-making for different stakeholders and to act accordingly; and
- the ability to communicate effectively and to foster diversity, equity, and inclusiveness in organisations.
Programme level learning objectives
Upon graduation from the Accounting programme, graduates
are able to:
- produce, communicate, analyse, and interpret financial, non-financial, and sustainability-related information for both managerial purposes and the needs of external stakeholders
- impact and contribute to the strategic, tactical, and operational decision-making and control processes
- interpret and analyse business and societal problems and opportunities, utilizing data and technology in the digitalised accounting domain
have developed their:
- analytical skills, holistic and critical thinking, problem identification and problem-solving capabilities, as well as writing and presentation skills
- work-life skills related to project management, negotiation, group work, and communication
Master’s Programme in Accounting prepares students for producing, analysing, interpreting, and communicating financial, non-financial, and sustainability-related information to control and manage organisations operating in the modern, highly digitalised environment. Accounting is at the heart of every business and a critical part of planning and decision-making for sustainable business. Our accounting graduates possess invaluable and highly universal know-how for succeeding in different roles, such as business controller, financial controller, financial analyst, auditor, management consultant, or Chief Financial Officer.
Topics in financial accounting focus on the preparation and use of financial statement –related information serving the needs of firms’ external stakeholders, including debt and equity holders. The core topics covered in this area include financial statement analysis, theories of financial statements, international and national accounting standards, issues in group accounting and consolidated financial statements, as well as auditing theory and practice.
Topics in management accounting focus on the preparation and use of financial and non-financial information serving the needs of managerial control and decision-making. The core topics covered in this area include performance management, strategic management accounting, capital investment decisions, and financial planning.
Accounting for sustainability serves the information needs of both internal and external stakeholders regarding environmental, social, and governance (ESG) issues. Reporting, measuring, controlling, and assuring ESG impacts is essential for ensuring sustainable decision-making. In addition, our Master’s Programme in Accounting offers students relevant knowledge of and expertise in data analytics, risk management, and corporate governance, as well as different research methodologies.
Degree structure
Total
120
ECTS
ECTS
ECTS
*including master's thesis 30 ECTS
Programme studies 88 ECTS
Code: BIZ506
Scope: 88 ECTS
Programme director: Prof. Vikash Sinha
| Course code | Course name | ECTS | Teaching |
|---|---|---|---|
| 22E00100 | Financial Statement Analysis | 6 | I, IV English |
| 22E24000 | Performance Management | 6 | I, III English |
| ABL-E1499 | Research Methods in Accounting 1 | 6 | I, III English |
| ABL-E1366 | Capstone: Accounting | 8 | I-II, IV-V English |
| ACC.thes | Master's Thesis | 30 | |
| ABL-E1999 | Master's Thesis Seminar 2 | 2 | I-II, III-V English |
| BIZ.matr | Maturity Test | 0 | |
Choose 18-30 ECTS of the following coursesCourses are grouped under different accounting topics, but you may mix them freely. |
|||
| Financial accounting | |||
| 22E00210 | Financial Accounting Theories | 6 | III English |
| 22E00300 | Konsernilaskenta | 6 | V Finnish |
| 22E00400 | International Accounting | 6 | III English |
| 22E21000 | Auditing – Theory and Practice | 6 | II English |
| Management accounting | |||
| 22E10000 | Strategic Management Accounting | 6 | II English |
| 22E12000 | Capital Budgeting | 6 | IV English |
| ABL-E1200 | Managing Uncertainty Through Cost Accounting and Financial Planning | 6 | II English |
| Other advanced accounting courses | |||
| 22E00500 | Corporate Governance | 6 | V English |
| 22E29100 | Accounting for Sustainability | 6 | II English |
| ABL-E1400 | Risk Management: Organization and Control | 6 | III English |
| ABL-E1300 | Big Data Analysis in Accounting | 6 | IV English |
| BIZ-E0100 | Customized Student Business Project 3 | 6 | |
| Choose 0-12 ECTS of the following courses | |||
| 32E29000 | European and International Tax Law | 6 | I English |
| 32E2220 | Elinkeinoverotus | 6 | III Finnish |
| 28E35300 | Mergers and Acquisitions | 6 | II English |
| FIN-A0103 | Fundamentals of Corporate Finance | 6 | I English |
| 30E03000 | Data Science for Business 1 | 6 | I English |
| ISM-C1004 | Business Analytics 1 | 6 | II English |
1 ABL-E1499 Research Methods in Accounting replaces ABL-E1399 Research Methods in Accounting course
2 When you want to start your thesis, please enrol to the master's thesis seminar in Sisu.
3 BIZ-E0100 Customized Student Business Project must be agreed in advance with Tommi Vihervaara. You cannot include both the BIZ-E0100 Customized Student Business Project and the MNGT-E5004 CEMS Business Project in your degree.
Elective studies 32 ECTS
Elective studies must meet the following requirements: they must be completed at a university or university of applied sciences; they must, as a rule, be a part of the degree studies of the university or university of applied sciences organizing the studies and they must meet the objectives of the degree completed at the Aalto University School of Business. Elective studies cannot overlap with other studies included in the degree in terms of content and intended learning outcomes.
Higher education institutions also offer studies outside degree education aimed at a wide audience, the suitability of which for the degree is assessed in relation to the intended learning outcomes of the degree. For example, courses that can be completed freely online and have a scope of 1-3 ECTS are generally not accepted as part of the degree.
Elective studies are selected so that the scope of the degree of 120 ECTS is met.
Elective studies can, for example, be used for:
- completing a minor
- broadening your skills and knowledge via multidisciplinary studies by
- completing another minor or individual courses in the fields of technology, art and design
- completing University Wide Studies
- completing studies at European Unite! universities
- completing network studies, for example from the Hilma network of gender studies or other networks
- acquiring entrepreneurial skills
- deepening language and communication skills by
- completing studies at the Aalto University Language Centre either as individual courses or as an entire minor
- completing studies in language and multicultural studies offered by European Unite! universities
- broadening or deepening expertise in your own field by
- completing additional studies in your programme or major
- completing studies in other programmes or majors
- completing additional studies in a minor
- completing the Customized Student Business project BIZ-E0100 (read more here) or Non-governmental organization project BIZ-E0110 (read more here)
- acquiring working life skills by completing an intership (read more at During your studies > Other studies)
- learning self-leadership skills, finding meaningfulness and developing study-wellbeing by completing Personal Impact courses.
A minor can be
- a minor organized by Aalto University (find the list of offered minors here)
- international minor that is completed through the Aalto University exchange programme at a university abroad or in a programme fulfilling the requirements of the exchange programme as a free mover student (instructions here)
- a study module completed at another university in Finland or abroad. As a rule, the minor must be a confirmed minor or similar study module in the curriculum of the higher education institute offering the study module.
The scope of the minor is determined according to the requirements of the minor.
If you have mandatory language studies in your master's degree, they are included in the elective studies module. You have received information about these in the beginning of your studies, if this applies to you. If you are uncertain of whether you need to demonstrate language proficiency in the master's degree, please contact your programme's planning officer to get further information about the matter.
- If you have completed your bachelor's degree in Finland (in Aalto or in another higher education institute), you have fulfilled the compulsory language requirements in the respective degree or received the exemption. You do not need to complete language studies in the master's degree.
- If your language of education is Finnish or Swedish and you have completed your bachelor’s degree outside of Finland, you must demonstrate proficiency in national languages by writing the maturity test in your language of education (Finnish or Swedish) and complete the language proficiency tests in the other national language. Read more about the language of education here. You may also apply for an exemption of demonstrating proficiency in national languages. See also the following bullet.
- If you have completed your bachelor’s degree outside of Finland, you must complete minimum of 3 ECTS in English including both oral and written proficiency. You can choose any course on level B2 or higher. Courses at a sufficient level and including both oral and written proficiency are marked with ‘o’ and ‘w’ in the course name. Students, whose language of education is not Finnish or Swedish, may alternatively complete an elementary course in Finnish or in Swedish. The courses in national languages can be at any level on CEFR scale.