School of Finance and Accounting - Study guide 2014-2015

School of Finance and Accounting - Study guide 2014-2015
                        Study guide

School of Finance
and Accounting
Bachelor Studies
International Finance and Accounting (IFA)
& Short Degree Programme (IFAS)

School of Finance and Accounting - Study guide 2014-2015


        1 About Saxion                       .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .   6
            n.    Exceptionally active
            n.    History of Saxion
            n.    Strategic vision
            n.    An authority in education
            n.   Attractive learning and living environment
            n.    Large in variety
            n.    Active in all areas
            n.    Knowledge Centres

        2 Student facilities . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 10
            n.    Catering facilities
            n.   Student Desks in Deventer
            . and Enschede
            n.    Student counsellor
            n.    Confidential counsellor
            n.    Student psychologist
            n.    Studying with a disability
            n.    Language support
            n.    Saxion Library
            n.    Training sessions and workshops
            n.    ICT facilities
            n.    Sports and Culture,
            . also for top sportsmen

        3 Regulations                  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .   16
                  Education and examination regulations
            n . 

            n.    (EER) and Student statute
            n.    Board of Appeal
            n.    Integrity and Complaints Office (MIK)
            n.    Participation

        4 Registration and students grants . .  .  .  . 18
            n.    Public transport pass
            n.    Facility fund
            n.    Study year and quarters
            n.    Introduction period
            n.    The Saxion year schedule
            n.    Division into quarters
School of Finance and Accounting - Study guide 2014-2015
5 School of Finance and Accounting                                                    .  .  .  .  .  .  .  .  .  .  .  .  .  .   20        n.   Curriculum courses and exams bachelor
  n.   Mission and vision                                                                                                                  . International
  n.   Degree programmes                                                                                                                   n.   Finance and Accounting
  n.   Small groups, practically orientated                                                                                                n.   Professional profile
  n.   Two locations; Deventer and Enschede                                                                                                n.   Education profile
  n.   Where is the F€M-school in Deventer?                                                                                                n.   Profession and professional field
  n.   Where is the F€M-school in Enschede?                                                                                                n.   Market developments
  n.   Practical orientation
  n.   Student Association: Balans                                                                                                    7 Bachelor studies International Finance
  n.   Alumni-association CA$H                                                                                                             and Accounting Short Degree
  n.   Study & Entrepreneurship                                                                                                            Programme (IFAS) . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 42
  n.   Internationalization                                                                                                                n.   Introduction
  n.   Study career supervision                                                                                                            n.   Starting point
  n.   Practical office internship and graduation                                                                                          n.   Admission requirements
  n.   Exam committee (examination board)                                                                                                  n.   Enrollment procedure
  n.   MySaxion:                                                                                                                           n.   Curriculum courses and
  . the source of information for F€M-students                                                                                             . exams bachelor International
  n.   News announcements                                                                                                                  n.   Finance and Accounting Short Degree
  n.   Schedules/Timetables                                                                                                                . Programme (IFAS)
  n.   Tests                                                                                                                               n.   Subject descriptions IFAS
  n.   Result overviews                                                                                                                    n.   Professional profile
  n.   Calculators                                                                                                                         n.   Education profile
  n.   Narrowcasting screens                                                                                                               n.   Profession and professional field
  n.   Digital study area - Blackboard                                                                                                     n.   Market developments
  n.   Preparation of the classes
  n.   Frequently asked questions                                                                                                     Important telephone numbers & (e-mail)
  n.   Where to go with your questions?                                                                                               addresses . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 51
  n.   Which books are required?
  n.   Where can I find the timetables?
  n.   In which classroom are the lectures?
  n.   How can I reach my teachers?
  n.  House rules for the School of Finance
  . and Accounting (F€M)?

6 Bachelor studies International Finance and
  Accounting (IFA).  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 28
  n.   Introduction
  n.   Starting point
  n.   Admission Requirements
  n.   Enrollment Procedure
  n.   Subject descriptions
School of Finance and Accounting - Study guide 2014-2015

4   Study guide 2014-2015
School of Finance and Accounting - Study guide 2014-2015
The school of Finance and Accounting (Academie Financien, €conomie & Management - F€M) realizes it’s
very important that students know what they can expect when they (start to) study at F€M. We would
also like to keep our connections within and outside Saxion informed about everything that we, as a
school, do and support. These objectives also manifest themselves in our mission:

            F€M offers students, clients and employees excellent value in economic and social
            knowledge and personal development. The school educates (self)critical professionals,
            who provide added value to the field of economics and the society.

From this mission, this study guide has come into being. The guide is arranged in such a way that every
reader can easily find the information that is relevant to him/her.
The study guide starts with a general explanation about Saxion: its history, core values in its policies,
student facilities within the university, various rules and regulations, registration and study financing.
That is immediately followed by more specific information about the school of Finance and Accounting,
followed by the programmes of each of our separate courses. The study guide ends with a detailed
explanation on our educational system and its features.

We hope that you have found the answers to your questions and/or have been informed about Saxion in
general and the school of Finance and Accounting in particular, after going through this study guide.
Then we will have succeeded in our intentions.
Nevertheless, if you have any questions or would like to know more about certain topics, please don’t
hesitate to contact us.

L.W. Velt
Dean, School of Finance and Accounting (F€M)

                                                                                               Study guide 2014-2015   5
School of Finance and Accounting - Study guide 2014-2015
About Saxion


6   Study guide 2014-2015
School of Finance and Accounting - Study guide 2014-2015
Exceptionally active                                  region are more and more developing into a
With locations in Deventer, Enschede and              self-conscious region with potential growth, with
Apeldoorn, and over 25.000 students, Saxion is        a knowledge-based economy. Moreover, located at
one of the largest Universities of Applied Science    the development boundary between the Randstad
in the Netherlands. Saxion offers a wide variety      and Berlin, Saxion has partners in Osnabrück,
of studies and a large number of special degree       Münster and Hannover, with whom Saxion works
programmes or specialisations, on a national as       together intensively. The attractive environment in
well as international level.                          this part of the European Union is expressed by
Saxion offers a wide range of programmes with         the green colour of the logo. The logo symbolizes
diverse variations. The education can be described    the connection and influence of the two founding
as highquality, innovative and enterprising.          Universities of Applied Sciences and their knowledge
Students study individually in a ‘personal learning   areas.
path’. Cooperative work terms (co-operations) with
companies, institutions and governmental organi-      An authority in education
zations result in an education that is well-attuned   Within the current knowledge-based society,
to the professional environment. In addition,         individualisation and internationalisation are
a wide-ranging programme for applied research         leading trends in education, which Saxion, as a
is being developed.                                   powerful educational institute, translates into the
                                                      study programme and organisation. These trends
History of Saxion                                     also show in the recruitment and selection of
The administrative merger between the University      students and the way the organisation works.
of Applied Sciences IJselland in Deventer and the
University of Applied Sciences of Enschede took
place on 1 January, 1998. Its new name, Saxion,
was announced in April 2000. A complete merger
took place on 1 September, 2011.

The name Saxion was chosen, first of all, because
Saxion expresses the fact that the University is
active in an historical area of Europe, of which
the eastern region of the Netherlands is a part.
The Eastern Netherlands and the German border

                                                                                            Study guide 2014-2015   7
School of Finance and Accounting - Study guide 2014-2015
Attractive learning and living                           Knowledge Centres
         environment                                              The Saxion Knowledge Centres, in which specialized
         Saxion’s students and employees are lucky.               knowledge from within and from outside the
         In Deventer, as well as in Enschede, they study          university comes together, are at the service of
         and work in an inspiring learning and living             all organisations and companies in the region.
         environment. Both universities are located in new        Lecturers, connected to the Knowledge Centres,
         buildings, close to the train station and the city       provide the research development and the use of
         centre. Studying or working at Saxion in the             the obtained knowledge from that within the study
         medium-sized student cities of Deventer and              programmes.
         Enschede guarantee - besides sports - extensive          The six Saxion Knowledge Centres are constituted
         opportunities for housing, culture and entertain-        around the following themes:
         ment. The school for Hotel Management is situated
         at an attractive location in the city centre of
                                                                        • Health, Welfare and Technology
                                                                        • Environment
         Large in variety                                               • Design and Technology
         Saxion wants to combine the positive effects of the
                                                                        • Innovation and Entrepreneurship
         large scale organisation with the advantages of a
                                                                        • Hospitality
         smallscale educational organisation. That is why
                                                                        • Innovation in Education
         Saxion continues to develop its recognizable
         identity and innovative strength of the program-
         mes. An organisation with a flat structure and
         short lines of communication in which studies or
         clusters of comparable studies can operate freely        Lecturers act as driving forces and pivots for the
         in a larger context. Our supporting services make        Knowledge Centres. Every lecturer has his/her own
         sure to offer professional, efficient and high-quality   speciality or field of study: the lectureship. Around
         service.                                                 certain themes and projects, they work together
                                                                  with teachers and students: the so-called ‘know-
         Active in all areas                                      ledge circles’.
         Saxion works together with other universities of
         applied science on a collective, regional assortative
         policy. Focus lies on realizing a most-desired and
         optimallylocated palette of degree programmes in
         the Eastern part of the Netherlands. The ‘Saxion
         Knowledge Transfer’ is available for governmental
         organizations, companies and health care institutions.
         This applies to applied research, refresher courses,
         post-graduate courses and recommendations on a
         commercial basis.

8   Study guide 2014-2015
School of Finance and Accounting - Study guide 2014-2015
Study guide 2014-2015   9
School of Finance and Accounting - Study guide 2014-2015
Student facilities


10       Study guide 2014-2015
Catering facilities                                      ­
There are good facilities in Deventer and Enschede           Inquiries in the area of:
to buy food and drinks. The Cormet restaurant                • Choosing a course at Saxion, questions
offers an extensive assortment of menu items.                  on transferring and more generally
Every day from 5 pm, hot meals are served. Both                about the various study options
locations have a Grand Café, where you can get               • Registration and de-registration for
alcoholic beverages after 4 pm. There is a recharge            Saxion courses
location in the school, and almost all (Dutch) bank          • Certificates and statements (proof of
cards will work.                                               payment etc.)
                                                             • Student grants, loans and correspon-
Student Desks (Studentenbalies) in                             ding forms
Deventer and Enschede                                        •F
                                                               acilities and services in case of special
The Student Desk is meant for (applicant) students             personal circumstances (e.g. students
and course participants who have questions about               with a disability)
studying at Saxion, and studying in general.                 • Student rights and obligations, as
The Student Desk employees answer questions,                   recorded in the teaching and examina­
take care of certificates, refer students to the right         tion regulations and the student statue
person in other services or schools and/or- if               • (Changes in) schedules and time tables,
necessary - make appointments with student                     through My Saxion
counsellors, the student psychologist, or school             • Signing up for exams and minors
contact persons. Furthermore, the Student Desk               • Study progress, test results, overview
offers study information materials and has                     of credits
several forms available. The International Office            •G
                                                               eneral questions about Saxion
is also represented at the Student Desk. The                   information on My Saxion
Student Desks work together with the Student                 • Registration for courses and work-
Housing Office, the International Office and the               shops in the areas of study skills and
IB-groep (a governmental organisation, responsible             personal skills
for the execution of several acts and regulations,           • Problems with the issued login account
such as student grants and information manage-               • Information and registration Studium
ment). Below you can find a list of topics for which           Generale (series of lectures on topics of
(applicant) students and course participants can               general interest)
contact the Student Office.

                                                                                                Study guide 2014-2015 11
• Do not agree with a programme decision
                                                                    • Have a disability and would like to be eligible
          At the Student Desk, it is also possible to make            for certain possible services (amongst which
          appointments with:                                          dyslexia or chronic depression are included)
          • Student counsellors with regard to study               • Would like a second opinion
            motivation and/or progress, complaints,                 • Do not speak Dutch as their native language and
            legislation and rules, appeal to facility fund,           therefore would like to apply for special facilities
            study financing, etc.                                   • Have questions about the rules with regard to
          • Student psychologists with regard to personal            study advice
          • Confidential counsellors                                Confidential counsellor
          • Study and vocational guidance officers with
            regard to study choice
          • Intake interviewers for the Saxion orientation
                                                                         The confidential counsellor is available for students
                                                                         who have (had) to deal with:
                                                                         • Unwanted sexual attention
                                                                         • Intimidation or discriminatory behaviour
                                                                         • Any behaviour that is experienced as being
          Student Desk Deventer
                                                                           unpleasant, bothersome or intimidating by
          Main Hall
                                                                           an employee or fellow student.
          The student desk is open on school days:
          Monday-Friday from 9 am - 5 pm
          Phone number: +31 (0) 570-603773
                                                                    Student psychologist
          Student Desk Enschede                                     The student psychologist can help by solving
          First Floor, immediately after the escalator              personal problems, such as:
          The student desk is open on school days:                  • Problems with motivation and focussing
          Monday-Friday from 8.30 am - 5 pm                         • Homesickness
          Phone number: +31 (0) 53-4871808                          • Difficulty with making contacts
          E-mail:                       • Bereavement
                                                                    • Fear of exams
          Student counsellor                                        • Psychosomatic complaints
          The student counsellor is available for students          • Depression
          • Fall behind, through no fault of their own, e.g.       Studying with a disability
            through illness, family circumstances or when           It is possible that a student has a (physical) condition,
            students are in financial need due to personal          which influences his/her study progress. Saxion
            problems                                                intends on making sure that not the disabilities, but
          • Have questions about registration, de-registra­tion,   the possibilities of studying with a disability are the
            programme fees or study financing                       most important.

12   Study guide 2014-2015
A disability is defined as any physical, sensory         access to the library’s catalogue, as well as to
and/or mental disability, chronic disease or other       dozens of databases.
disorder, which hinders studying (and possibly           The catalogue contains all the Saxion library
working later on). Students with a disability usually    books, magazines and theses. In the databases
need more time and/or get tired faster. By searching     a wealth of reliable professional information
for an alternative learning path, which is arranged      can be found, which can be used during studies.
with the student concerned, it is possible to create     The database can also be reached from the
conditions that make studying possible.                  outside, by logging in with the Saxion account.
If we want to make sure that we handle this seriously
and to prevent any study delay or drop outs, a           Training sessions and workshops
learning path should be agreed upon at the               Doubts about the programme? Difficulties with
beginning of the course. This calls for sincerity        other students? The Saxion Orientation Project is
of everyone involved.                                    a 4 month course with an extensive orientation
Therefore, if a disability is in question, the student   on the field of work and study programme. There
should talk this over with the study career super­       are several brochures about the training sessions
visor.                                                   and the Saxion Orienation Project available: you
Depending on the issue, other Saxion employees           can get them at the Student Desk.
and/or the student counsellor can be involved as
well. In mutual consultation, a good solution is
agreed upon, by which studies can continue as
easily as possible. Of course, we will keep all the             In addition there are training sessions and
information strictly confidential.                              workshops in the fields of:
                                                                • Dealing with procrastination
Language support                                                • Dealing with fears and stress
In case you want to learn Dutch language, please                • Communication / presentation skills
contact International Office.                                   • Once bullied, now insecure
                                                                • Dealing with bereavement
Saxion Library                                                  • Successful studying / successful job
Any information you may need for studying,                        applications
doing projects, writing your thesis, and so on…
the Saxion library, City archive and Athenaeum
library (SAB) employees enjoy helping you out!
Saxion Library is located in Deventer (C.199) and
Enschede (Forum, 2nd floor). The City archive and
the Athenaeum library (the main location of the
Saxion library) can be found at Klooster 12 in the
city centre of Deventer. Students can take out
books, study and use the PC’s at all locations.
Saxion students are automatically members of
the library. The student card is the library card.
On, students have

                                                                                               Study guide 2014-2015 13
ICT facilities                                           computer is restarted. You can reach your h-drive
          Computers & books                                        from outside Saxion through the website
          There are many facilities available for working
          with computers in Enschede and Deventer. In the
          study areas, as well as in the media centres, work       Cheap software and notebooks
          spaces are created for individual work as well as        Students can order cheap legal software through
          group work. The library also offers good work   It is possible to order student
          and study space with modern computer and print           laptops through Saxion. Go to
          facilities. These have to be reserved beforehand.        and choose ‘notebooks’.

          Wireless internet                                        Printing, copying and binding
          Our Deventer and Enschede locations offer                Students have to hand in reports on a regular
          access to wireless internet facilities. Check for        basis. It is therefore possible within Saxion
          more information and help at the Student Desk.           Enschede and Deventer to print, copy and bind
                                                                   reports. The repro-shop is available for binding.
          E-mail service (                       The so-called ‘multifunctionals’ can be used for
          Every Saxion student gets a Saxion e-mail address.       printing, scanning and copying, everywhere at
          The login data will be sent to the student’s home        Saxion. You can pay with your ‘chipknip’ (chip
          address in a letter. In most cases the login name is     card). There is a manual on My Saxion under
          identical to the student number and the password         the A-Z-list.
          is the student’s birth date (dd-mm-yy). Students are
          urgently encouraged to change this password as           Sport & Culture, also for top sportsmen
          soon as possible. This e-mail address is used by         Saxion students can participate in all kinds of sport
          the teachers to communicate with the students.           and cultural activities at low costs. Enschede and
          The students can also use it for communication           Deventer have their own fitness room.
          between themselves and as a digital agenda.              Look for more information at
          The e-mail address is:

          Check this e-mail address every day. It is optional to
          send all Saxion e-mail automatically to your private           Saxion students can:
          e-mail address. You can get more information in the            • Buy a sports card, to use sport and fitness
          user manual at                                facilities at low costs
                                                                         • Make use of the cultural activities (theater
          Space on the hard disk                                           or movies) with attractive discounts
          Every student has his/her own separate hard disk
          within the Saxion network, the so-called ‘h-drive’.
          Make sure you never save any documents on the
          c-drive, since this will be deleted as soon as the

14   Study guide 2014-2015
A student who is a top level athlete, and would
like to qualify for special facilities, e.g. in the area
of scheduling classes and tests, has to register
with the Saxion Desk for Sport and Culture,
located in Enschede, or with the coordinator of
top-sport facilities or Studium Generale coordinator
of Saxion, located in Deventer. It will be the student’s
responsibility to do so. In consultation with the
study coordinator, the student’s study plan can be
drawn up.

For information about our campuses, how to get
around, our international traineeships programme
and more, check out:

                                                           Study guide 2014-2015 15


16      Study guide 2014-2015
Education and examination regulations                  To comply with the Saxion Code of Conduct and
(EER) and Student statute                              with regard to a better complaint management,
Students have certain rights and duties. In the        Saxion chose to establish one office for filing
education and examination regulations (EER)            complaints: the MIK. This Office is staffed by
you can find important regulations with regard         Saxion’s integrity official, with whom students,
to participation in tests, the first year success-­    employees and external relations can file a
standards (study advice) etc. The study career         complaint. Of course it is still possible for every­one
supervisor will discuss the most important             to discuss the matter directly with the (specific)
regulations with the student in the first study        organisation or person who can judge the complaint.
week. The EER of this study year can be found          Every complaint is declared admissible by principle
on My Saxion under My study at Rules and               and will be dealt with by the integrity official, or
Regulations.                                           sent on to the authorized organisation, employee
In the student statute, also available through         and/or his manager. The complainant will receive
My Saxion, you can find all information about          feedback on the settlement of the complaint.
student rights.
Board of Appeal                                        Saxion has a central representative advisory body
We refer to My Saxion for the most recent              (GMR) and every academy has its own academy
regulations.                                           board, in which employees as well as students are
                                                       represented. For regulations and more informa­
Integrity and Complaints Office (MIK)                  tion, please check My Saxion.
The Integrity and Complaints Office (Meldpunt
Integriteit en Klachten - MIK) offers every Saxion
student and employee and external relations the
opportunity to file a complaint. Every complaint
can be seen as a positive involvement of the
complainer to the organisation and as a tool for
Until recently there were several complaint regula­
tions and institutions with specific tasks. This led
to a large amount of different desks and offices
where students and employees had to go with
certain specific complaints. Every office had its
own operating procedures, its own communication
and its own reporting.

                                                                                               Study guide 2014-2015 17
Registration and student grants


18   Study guide 2014-2015
For a detailed description and procedures, see:

Public transport pass (OV-kaart)
Unfortunately a public transport pass (OV-kaart)
is only available for Dutch students.

Facility fund
Saxion has a facility fund, to which students
can make an appeal in special circumstances.
The regulations for this fund will be posted on
My Saxion at the start of the new study year.

Study year and quarters
Every study year consists of 4 quarters of
10 weeks each. These quarters are divided into
7 teaching weeks, 2 exam weeks and 1 week
for projects and other activities (so-called
‘week-10-activities’).                                Period        Start           Finish
                                                      Introduction 25 aug.	2014     30 aug.	2014
Introduction period                                   Quarter 1     1 sept 2014     14 nov.	2014
The introduction period starts on Monday              Quarter 2     17 nov.	2015    6 febr.	 2015
25 August, 2014. The first quarter, week 1.1.,        Quarter 3     9 febr.	 2015   24 april 2015
starts on Monday 1 September, 2014.                   Quarter 4     27 april 2015   17 july 2015

• a substantial overlap with the summer holiday
  period and the other holidays of primary and
  secondary education in the region
During non-teaching days there will be no planned
teaching activities, but (additional) teaching
services (such as admission tests, choice of study/
career interviews) may be offered on these days.

Division into quarters                                Holiday/day off       Start              Finish
Teaching weeks have been divided over four            Autumn holiday        13 Oct. 2014       17 Oct. 2014
quarters of approximately 50 teaching days            Christmas holiday     22 Dec. 2014       2 Jan. 2015
each, excluding autumn, Christmas, spring and         Spring holiday        23 Feb. 2015       28 Feb. 2015
May holidays. Official holidays (Easter, Ascension    Easter                3 April 2015        6 April 2015
holiday and Whitmonday) fall on teaching days         Koningsdag            27 April 2015
and are not compensated for.                          May holiday           4 May 2015          8 May 2015
                                                      Ascension holiday     14 May 2015         15 May 2015
                                                      Whitmonday            25 May 2015
                                                      Summer holiday        20 July 2015

                                                                                        Study guide 2014-2015 19
School of Finance and Accounting
                              (Academie Financiën, €conomie & Management - F€M)


20        Study guide 2014-2015
Mission and vision                                          Degree programmes
F€M is an active and up-to-date academy which is
always engaged in the future, to which the notion
of ‘development’ always comes first. In the years to
                                                                F€M offers the following bachelor degree programmes:
come our goal is to develop into one of the best
schools in our field of study. This is not an objective
                                                                • Accountancy (Dutch only)
in itself; it evolves out of the desire to offer students
                                                                • Business economics (Dutch only)
the very best and give them a solid stepping stone
                                                                • Tax Law and Economics (Dutch only)
on their way to a successful career, and optimal
                                                                • International Finance and Accounting (IFA)
personal development.
                                                                   (English only)
We want to make sure that what we do has a
                                                                • International Finance and Accounting Short Degree
greater added value than the study programme
                                                                  Programme (IFAS) (English only)
of any other financial-economic faculty in the
Netherlands. This has to do with our ambition
which we clearly stated in our mission.
                                                                • Compact Business Economics (Dutch only)
                                                                • Tax Advisor (Dutch only)
                                                                • Project management in practice (Dutch only)
This mission is expressed as follows:
F€M offers students, clients and employees
a top surplus value in economic and social
knowledge and personal development.
                                                            Even in times of an economic crisis, these
It educates (self-)critical professionals who
                                                            programmes offer excellent opportunities in
can offer surplus value to the field of work
                                                            the labour market. Students who would like to
and the society.
                                                            continue studying after their bachelor degree
                                                            can receive their Master relatively quickly, due
                                                            to good connections with research universities.
The school of Finance and Accounting offers
university studies in the financial-economical              The Dutch full-time studies follow the same
area in Enschede, Deventer. The programmes                  programme in the first 1.5 years. This allows
offered by the academy are recognized by the                students who are unsure of their study path to
Dutch Flemish Accreditation Organisation. This              switch between times, without falling behind.
means that the educational programme has been               After the second year in-depth study takes place
assessed positively.                                        and the practical part of the programme commen-
                                                            ces. In the third year, students create their own
                                                            learning path by following a minor. The programme
                                                            ends with a graduation assignment that takes
                                                            place at a business location. This assignment leads
                                                            to a thesis, which will be defended at the final
                                                            interview. As soon as all courses have been
                                                            successfully completed, the student receives his
                                                            or her diploma and he or she will bear the title of
                                                            Bachelor of Business Administration.

                                                                                                 Study guide 2014-2015 21
Small groups, practically orientated                   part of the Haanstra-wing, and you can also find
          The training at the School of Finance and Accounting   the study area for F€M students here.
          can be characterized by personal attention, small
          groups and practical assignments. Renowned             Practical orientation
          organisations, such as KPMG and the Rabobank           The academy pays a lot of attention to practical
          participate in assignments to be carried out by the    orientation. Guest lecturers come by on a regular
          students in their work groups. In the meantime,        basis and there are ‘in-house-days’ organized with
          Master classes take place at these organisations       several companies. Every year we organize a
          and their employees are involved in the oral           business market where students can speak to
          assessments in the exam period.                        potential companies and organisations about their
                                                                 internship or career.
          There are 20 contact hours per week (class hours
          as well as coaching), in addition to self-study        Student Association: BALANS
          hours that are scheduled. The school has its own       The student association of the School of Finance
          study area where students can work. The teachers’      and Accounting is BALANS. They organize various
          offices are located nearby the study area, so that     activities which are directly related to the programme
          the teachers are close by and therefore easy to        and the field of work. The student association is
          contact in case of any problems or questions.          very active and organizes excursions, in-house
          The study programmes can be found in a digital         days, guest lectures and symposia. Student
          learning environment, which can be reached             association members can get a discount on their
          from anywhere through the internet. Therefore,         study books at
          students do not have to be at school to work on        For more information, or if you want to become
          an assignment.                                         a member, e-mail

          Two locations: Deventer and Enschede                   Alumni-association CA$H
                                                                 The school of Finance and Accounting has had
          Where is the F€M-school in Deventer?                   an active alumni association since 2005: CA$H.
          On the first floor in the B-wing (B3.04 - B3.12) are   The alumni association’s objective is to bring
          the front office, the teachers’ offices, the mail      F€M-alumni and the business world together, to
          boxes and the study area.                              create a unique network from which all parties
                                                                 can benefit. This is mostly expressed in know-
          Where is the F€M-school in Enschede?                   ledge-broadening and branch-specific activities.
          On the main floor, in the Haanstra-wing. Right         CA$H organizes various training sessions, courses
          behind the swing doors are several classrooms          and lectures. This way, alumni get the opportunity
          and the consultation rooms which are, amongst          to broaden their knowledge.
          other things, used for the tutor group meetings.       For more information, or to become a (free) member,
          In the hallway, where you can also find the emer-      e-mail
          gency exit, are information boards for general
          announcements. Here you can find the front office.     Study & Entrepreneurship
          Then the heart of the school: the student’s associa­   F€M actively stimulates entrepreneurship, and
          tion, BALANS has its own office here. Here is also     there are several students within our school who
          another screen with the daily announcements.           run their own company while they are studying.
          All employees have their own work space in this        Saxion has various arrangements for these

22   Study guide 2014-2015
student-entrepreneurs which support the combi­         Coaching in the first year is aimed at supporting
nation of studying and doing business. For more        students in realising the introductory (propaedeutic)
information, contact Mr. H. Postma                     phase objectives and the process of self-control.
(                                   In addition to study career supervision, coaching in
                                                       the career development is key. Personal develop-
Internationalization                                   ment, social development and professional develop-
Internationalization is one of the spearheads of the   ment hold a prominent place. In shaping the future
F€M-school policy. Students are encouraged to do       accountant, business economist or tax economist,
their internship or graduation assignment abroad.      it is not only about having enough expert know-
In previous years, students have done their            ledge, but also about having a large amount of
internship in, amongst other places, Curaçao,          general professional competencies. Students need
South Africa and Bhutan. It gives the internship or    to have social and communicative skills and manage-
graduation period a large added value and such an      ment qualities.
experience is of great value to your CV!
                                                       Practical office internship
F€M is a member of Businet, an umbrella organi­        and graduation
sation of universities of applied science in Europe,   Students of the IFA-programme carry out their
and one of the teachers, Mr. Schenke, is in the        internship abroad in the third or fourth study year
organisation’s board of directors. Businet organises   for a period of 20 weeks. Students that meet the
‘international business weeks’ for the participating   internship maturity requirements (See EER), can
schools. Here, F€M students can get to know            apply for their internship period at the school
students and universities in other countries, such     office (e-mail:
as Belgium, France, Great Britain, Poland, Czech       The internship coordinator will assess the in-
Republic and Finland.                                  ternship assignment.
                                                       If he/she meets all the requirements, the student
Study career supervision                               can start the assignment supervised by the
Within the study programmes of the School of           company supervisor. The student is also supported
Finance and Accounting, study career development       by the school coach. The student writes a report
(study coaching) receives a lot of attention. The      about his/ her experiences and the job activities
study career development programme in the first        he/she performed.
year is intended to coach students in the process      If the internship takes place in the field of fiscal
of competency development.                             economics, it will be finished with an oral assess-
                                                       ment about the professional products produced.

The main objectives of the introductory                At the end of the programme, the research and
(1st year, propaedeutic) phase are:                    advisory report needs to be completed. Students
1	Orientation on the various F€M programmes           acquire their own assignment, which should meet
  and professional practice                            the set requirements.
2	Making a responsible study choice                   After approval by the graduation co-ordinator,
  the selection process)                               the student starts working on the assignment,
3 Preparation for the main phase                       supervised by the company coach and school
                                                       coach. The student writes his/her thesis about the
                                                       graduation assignment, which will be defended in

                                                                                               Study guide 2014-2015 23
the final interview. As soon as all units have been   Requests need to be handed in on the Tuesday
          assessed with a sufficient mark, the student has      before the exam committee’s meeting, at the
          graduated with the certificate of accountancy,        latest. The meeting schedule can be found on
          business economics or fiscal economics and he/        MySaxion under year schedule.
          she can take on the title of Bachelor of Business
          Administration/Bachelor of Science.                   Questions and requests can only be submitted
                                                                with the above-mentioned forms, any other e-mails
          Exam committee (examination board)                    or letters can not be dealt with. Students should
          For requesting things that deviate from the EER       not approach the exam committee members in
          (e.g. exemption requests, extra exam time), you       person.
          have to file a request with the academy’s exam
          committee.                                            Take a look at the FAQ list of the exam committee
                                                                on MySaxion and dicuss your request first with
          The exam committee consists of the                    your mentor.
          following employees:
          Mrs. M.A.H. Roex-Lemmens (president)                  The exam committee’s e-mail address is:
          Mr. P.J.M. Sabandar (vice-president)        
          Mr. J.S. van Hettema (secretary)
          Mr. L. Beumer (repl. secretary)                       MySaxion: the source of information
          Mr. E.A.M. Mentink RA (member)                        for F€M-students!
          Exemptions can be requested using the forms           Make sure My Saxion is set up with the right study
          below. These forms, which can be found on             programme and location. These data can be found
          My Saxion, have to be printed out and handed in,      in the upper left-hand corner of the screen. With
          in the mailbox of the exam committee’s secretary      the button right below that, you can change the
          (to be found at the F€M school)                       set-up.
          • Request for exemption in doing exams
          • Request for test facilities                         News announcements
          • Request to change the study contract                Immediately after logging in, you will see an
          • Other requests                                      overview of news announcements. Make sure you
                                                                check every day if there is anything relevant for
                                                                you. Underneath you can find the announcements
          Exemption requests can only be answered
                                                                that have to do with Saxion in general.
          when the following checklist has been
          • The form with your request
                                                                If you click the link ‘schedule’, you can find the
          • Description of the module
                                                                timetable. It is shown by the week. Timetables can
          • Description of the consulted literature
                                                                be found with the class code. The timetables will
          • Verified copy of the list(s) of marks
                                                                be refreshed every day (at night). We try to avoid
          • Verified copy of the certificate
                                                                any changes, but make sure you check the newest
                                                                version of the timetable every day!

24   Study guide 2014-2015
Tests                                                  be found. During the first day of classes, the login
If you click ‘links’, you can find the link to the     link for this study area will be handed out. All
BISON system for your exam schedule. This              study materials (such as assignments, manuals,
schedule will be available around week 6 of the        lecture sheets etc.) can be found in the digital
educational unit.                                      study area. Blackboard can be reached through the
By the way, the schedules for the oral exams are       My Saxion menu.
separately mentioned under the header ‘assess-
ment roosters’.                                        Preparation for class
Through the link ‘results’ you can find the test
results and students can sign up here for the
exams. Test results will be ready within ten school        • On Blackboard, students can find what they
days after the test.                                         have to prepare for each class. Moreover,
For every test students need to sign up (Enschede            the necessary literature is mentioned there.
+ Deventer). At the time of the test, students have          This should be taken with you to the class.
to show a valid ID.                                        • For the for class, the student can find which
                                                             assignments to prepare under the link to the
Result overviews                                             courseconcerned on Blackboard. For lectures,
Every student can check his or her study results             the student sometimes doesn’t have to
in BISON. The link to BISON can be found in the              prepare anything. In any other case, certain
My Saxion menu.                                              chapters from the book should be read
                                                             beforehand. Have a look under the header
Calculators                                                  of the course concerned.
Students are not allowed to use any ‘graphical             • During the first day of classes, more specific
calculators/calculators with a large display with            instructions will be given with respect to the
more than one line of input’. This applies to all            preparation of each class.
exams, all programmes and all study years. Check
for more information My Saxion and Blackboard.

Narrowcasting screens
Both locations have so-called narrowcasting screens;
large tv-screens on which the school news can be
found: any absence of teachers will be mentioned
on the screens as well as often the short versions
of larger MySaxion announcements. Therefore,
make sure to always have a look at the screens
as well!

Digital study area - Blackboard
The School of Finance and Accounting has a digital
study area available where all study material can

                                                                                             Study guide 2014-2015 25
Frequently asked questions                         The books can be ordered directly online. Of course
                                                             you are free to choose whom to order from: for
          Where to go with your questions?                   example, books can also be ordered at www.bol.
          The school has a front office for students in      com. Keep in mind though, that the delivery time
          Deventer (tel. +31 (0)570-603624) as well as       can differ, so make sure to order on time!
          in Enschede (tel. +31 (0)53-4871478). Students
          can call the office with all their questions and   Where can I find the timetables?
          to make appointments with teachers, to hand        The timetables can be found at MySaxion. You can
          in assignments if agreed so, etc.                  view the timetables through

          Which books are required?                          In which classrooms are the lectures?
          Students can find the booklist at                  In Enschede, the main Saxion building consists of
                       various ‘wings’ and floors. Most classes will take
                                                             place in the HB-classrooms, near the study area
                                                             of the School of Finance and Accounting (F€M).
                                                             The group work spaces and the teachers can
                                                             lso be found in this area.
                                                             However, classes are sometimes scheduled in
                                                             other parts of Saxion. A classroom number is
                                                             always composed of the following elements: HB01.
                                                             The first letter stands for the wing (a W means
                                                             Wolvecamp, an S means Schierbeek, an E Elderink,
                                                             an F Forum and an H Haanstra), the second letter
                                                             stands for the Floor (B is the ground floor, 1 is 1st
                                                             floor etc.). The last two numbers represent the
                                                             classroom number.

                                                             Due to increasing student numbers there are
                                                             several buildings. New is the Epi Drost building,
                                                             the classrooms in this building are represented
                                                             by the letter G (Van Galenstraat).

                                                             In Deventer, the main Saxion building consists
                                                             of various floors. A classroom number is always
                                                             composed of the following elements: B318. The
                                                             first letter stands for the section of the building.
                                                             Near the elevators, the classrooms are indicated
                                                             with signposts. The first number stands for the
                                                             floor. The last two numbers represent the class-
                                                             room number.

26   Study guide 2014-2015
How can I reach my teachers?
In Enschede as well as in Deventer there is a study
area (in Deventer: first floor, building section B,
in Enschede: ground floor, Haanstra) with several
teacher work spaces. Due to the large amount of
lectures, internship visits, marking etc. a teacher
will not always be at his or her desk. Therefore,
it is best to e-mail beforehand to make an appoint-
ment with the teacher. If you have a question, it is
preferable to ask this through e-mail.
Teachers will always try to answer e-mails within
24 hours. Keep in mind though, that many teachers
work part-time for F€M.

House rules for the School of Finance
and Accounting (F€M)

These are:
• Clear up your work space
• Don’t leave anything behind when you leave
• Handle furniture and equipment with care
• Food and drinks are only allowed in the
  restaurant, not in the study area and class
• Smoking is NOT permitted within Saxion
• Your mobile phone must be SWITCHED OFF
  during class hours and exams
• There are plenty of waste bins in the school:
  use them!
• Computers and the internet are meant for
  studying: use them for doing that!
• Misuse of computers and computer systems
  will be punished by blocking the account.
  That will make studying very difficult….

                                                       Study guide 2014-2015 27
Bachelor studies International
                Finance and Accounting


28     Study guide 2014-2015
Introduction                                           pretation to their course of study. Of course,
International Finance and Accounting (official         students can specialise themselves even further,
name: Finance and Control) is a 4-year Bachelor        as soon as they develop a particular professional
programme. It trains students for management           image they would like to follow.
and financial positions in profit or non-profit
organisations.                                         Starting point
                                                       The curriculum is based on the Netherlands’
The programme is internationally oriented for the      national education profile. This guideline provides
following reasons:                                     a description of the competencies and levels to
1	Its international composition of student groups     which they have to be achieved for all bachelor
  (several nationalities);                             programmes in business economics. These national
2 Internationally-oriented modules;                    competencies are in accordance with the “Dublin
3	International practical assignments in the          Descriptors.”
4 International literature;                            Admission Requirements
5 	An obligation to do a part of the programme
  abroad (through an internship or study with a
  partner university);
6 	Contacts with international partner universities      Students in our international studies must:
  for student and staff exchanges.                        • Demonstrate that they have the ability,
                                                            motivation and determination to succesfully
The programme distinguishes itself through its              complete the programme (letter of
attention to each individual student. He or she will        motivation);
study in a class with a maximum size of 25-30             • Be admissible to Higher Education through a
students and will also work in smaller groups               diploma of secondary education/high school
on assignments. Explicit attention is paid to               diploma with good results such as, for Dutch
the individual student through coaching.                    students, VWO, HAVO or MBO and for foreign
                                                            students a diploma which is equivalent to
The programme distinguishes itself further                  e.g. the German Abitur, the British GCE
through its specific attention to communication             A-levels or (l) GCSE grades A, B or C, the
and management skills. Everything the students              French Baccalaureat or the American High
learn in specific courses in these subject areas            School (top stream or plus 1 year’s college);
will be applied to other courses and in project           •H
                                                            ave sufficient English language skills for
activities, such as “management games”.                     the specific course. We follow the IELTS 6.0
The school actively seeks to integrate features
of the current labour market within its curriculum.
As such, the subjects of general economics,
sociology and cultural anthropology, ethics and        Enrollment Procedure
human resource management will contribute to           To enroll for this programme, please visit the
increasing the students’ ‘global economic aware-       webpage
ness’. Students can make their own choices in          or for more information on our
persuing a minor within the programme, providing       programmes.
them the ability to give their own unique inter­

                                                                                             Study guide 2014-2015 29
Subject descriptions
          In this chapter, we describe the IFA curriculum.
          At the beginning of each section, we will describe
          the course and the amount of credits that are
          connected to this course.

          1.	Micro/Macroeconomics
              (8 credits in year 1)
          In addition to more general micro- and macro-
          economic themes (such as elasticities, market
          forms, Porter’s theory on competition, gross
          national product, economic trends and innovation),
          in this course unit, we will address international
          economic relationships and the various economic
          systems (the market mechanism, central planning
          and various intermediate forms). We will also
          address environmentalism. This course unit has
          common ground with the International Financial
          Management and Sociology and Cultural
          Antro­pology courses.

          General learning goals:
          Make connections between events in the envi­ron­
          ment of a company and within the company
          itself (as far as these are a result of international
          economic developments), the actions of govern-
          mental organisations, competition, as well as the
          entire business sector in which the company is
          Literature: Hubbard: Macroeconomics
          Publisher: Pearson

30   Study guide 2014-2015
Quarter 1                                        Quarter 2                                Quarter 3                                     Quarter 4
Year 1

                                                                                                                                                                                  Curriculum courses and exams bachelor International Finance and Accounting 2014-2015
                                             Semester 1                                                                              Semester 2
                           Business Communication 1.1 & 1.2 4 ec’s                                                Business Communication 1.3 & 1.4 3 ec’s
         n Mid-Semester Exam:                n End-Semester Exam:                           n Mid-Semester   Exam:                n End-Semester Exam:
           Business English 1.1                  Business Communication 1.2                        Business English 1.3                  Business Communication 1.4

         Micro-/Macroeconomics 1.1 4 ec’s            Micro-/Macroeconomics 1.2 4 ec’s          Sociology & Cultural Antropology 1.3         Management Accounting 1.4 3 ec’s
         n Exam: Micro-/Macroeconomics 1.1          n Micro-/Macroeconomics 1.2              3 ec’s                                       n Exam: Management Accounting 1.4
                                                                                               n Partial exam: Sociology & Cultural
                                                                                                  Antropology report 1.3
                                                                                               n Partial exam: Sociology & Cultural
                                                                                                  Antropology exam 1.3

         Financial Accounting 1.1 3 ec’s             Financial Accounting 1.2 3 ec’s           Financial Accounting 1.3 3 ec’s              Financial Management 1.4 3 ec’s
         n Exam: Financial Accounting 1.1           n Exam: Financial Accounting 1.2         n Exam: Financial Accounting 1.3            n Exam: Financial Management 1.4

         Financial Management 1.1 3 ec’s             Financial Management 1.2 3 ec’s           International Law 1.3 3 ec’s                 International Taxation 1.4 5 ec’s
         n Exam:  Financial Management 1.1          n Exam: Financial Management 1.2         n Exam: International Law 1.3               n Exam: International Taxation 1.4

         Computer Skills 1.1 3 ec’s                  Marketing & Management 1.2 3 ec’s         MIS/ICT 1.3 4 ec’s
         n Exam: Computer Skills 1.1                n Exam: Marketing & Management 1.2       n Partial exam: MIS/ICT report 1.3
                                                                                               n Partial exam: MIS/ICT report 1.3

                                                                                  Mentoring year 1 3 ec’s                                   n Exam:   Mentoring year 1
Year 2

                                             Semester 3                                                                              Semester 4
         Management Accounting 2.1 4 ec’s            Management Accounting 2.2 4 ec’s          International Financial                      International Financial
                                                                                               Management 2.3 4 ec’s                        Management 2.4 4 ec’s
         n Exam:   Management Accounting 2.1        n Exam:   Management Accounting 2.2     n Exam: International Financial             n Exam: International Financial
                                                                                                  Management 2.3                               Management 2.4

         Research Skills 2.1 3 ec’s                  Business English 2.2 3 ec’s               Supply Chain Management 2.3 3 ec’s          Supply Chain Management 2.4 3 ec’s
         n Exam: Research Skills 2.1                n Exam: Business English 2.2             n Exam: Supply Chain                       n Exam: Supply Chain
                                                                                                  Management 2.3                              Management 2.4
         Ethics 2.1 3 ec’s                           Human Resource                            Accounting Information                       Accounting Information
                                                     Management 2.2 3 ec’s                     Systems 2.3 3 ec’s                           Systems 2.4 3 ec’s
         n Exam:   Ethics 2.1                       n Exam: Human Resource                   n Exam: Accounting Information              n Exam: Accounting Information
                                                        Management 2.2                            Systems 2.3                                  Systems 2.4

         Corporate Governance 2.1 3 ec’s             Financial Management 2.2 4 ec’s           Business Communication 2.3 3 ec’s            Financial Accounting 2.4 4 ec’s
         n Exam: Corporate Governance 2.1           n Exam: Financial Management 2.2         n Exam: Business Communication 2.3          n Exam: Financial Accounting 2.4

         Marketing & Management 2.1 3 ec’s                                 International project 2.2 & 2.3 3 ec’s
         n Partial exam: Marketing &                                                           n Exam: International project 2.2
            Management report 2.1                                                                  & 2.3
         n Partial exam: Marketing &                                                           n Exam: International week 2.3
            Management exam 2.1
Year 3

                                             Semester 5                                                                              Semester 6
         Auditing 3.1 4 ec’s                                     Auditing 3.2 4 ec’s
         n Exam: Auditing 3.1                       n   Exam: Auditing 3.2

         Financial Accounting 3.1 4 ec’s             Financial Accounting 3.2 4 ec’s
         n Exam: Financial Accounting 3.1           n Exam: Financial Accounting 3.2
                                                                                                                               Internship 30 ec’s
         Business Communication 3.1 3 ec’s   Management Accounting 3.2 4 ec’s
         n Exam: Business Communication 3.1 n Exam: Management Accounting 3.2

         Financial Management 3.1 4 ec’s             Research Skills 3.2 3 ec’s
         n Exam: Financial Management 3.1           n Exam: Research Skills 3.2
Year 4

                                             Semester 7                                                                              Semester 8

                                                                                                                    Research & Advisory report IFA 30 ec’s
                                                                                                                                       n Exam: Research & Advisory
                                                                                                                                          report IFA
                                        Minor 30 ec’s                                                                                  n Exam: Obligatory activities
                                                                                                                                          abroad IFA
                                                                                                                                       n Exam: Oral defence research &
                                                                                                                                          advisory report IFA

    n    written exam/digital exam               n   assessment            n   oral presentation         n   assessment           n   report/portfolio

                                                                                                                                                          Study guide 2014-2015 31
2.	Sociology and Cultural Anthropology                    4. Financial Management
              (3 credits in year 1)                                      (17 credits in year 1, 2 and 3)
          This course is focused on social behaviour and             Emphasis in this course is on issues of Investment
          the economic structure of various peoples and              and Financing. We will discuss: investment selection
          cultures. We will not only look at the differences         methods, the functioning of the stock exchange,
          between cultures, but also the interaction (commu-         valuation of shares and bonds, risk measures, the
          nication) between cultures and the social and              financing theory of MM, mergers/take-overs and
          economic problems that may result. What are the            the functioning of derivatives (options, futures).
          consequences for doing business abroad? By doing           What risks are associated with investing abroad
          assignments, we will be able to take a close look          and mergers with (take-overs by) foreign companies?
          at arious cultures. This course has common ground          In addition, there is room in this course for a training
          with the General Economics and Communication               in financial math. This course has ground in common
          courses.                                                   with International Financial Management.

          Learning goal:                                             General learning goals:
          Recognizing influences from society, religion,             1. Formulating a financial plan
          culture, ethnicity and gender on globalisation             2. Determining and describing the economic
          and doing business.                                          feasa­bility (rate of return) of projects and invest-
          Literature: Monaghan: Social and Cultural                    ments
          Anthropology A very short introduction                     3. Collecting, systematizing and analysing financial
          Publisher: Oxford University Press                           and non-financial index numbers
                                                                     4. Analysing the choice of capital sources
          3. International Financial Management                      Literature: Ross: Essentials of corporate finance
              (8 credits in year 2)                                  Publisher: McGraw-Hill
          Knowledge of the international financial markets is
          very important for many businesses that operate            Learning goals Financial Management 1.1 (3 credits):
          internationally. We will discuss, among other things,      1. Carry out a ratio analysis
          the functioning of exchange markets (exchange              2. Determine an optimal capital structure
          rate risk), international banking, the role of inflation
          and interest, purchasing power parity, international       Learning goals Financial Management 1.2 (3 credits):
          investments and ways to limit international risks.         1. Assess an investment project
          This course builds on the course General Economics         2. Calculate the present and future values of cash
          and has things in common with Financial Manage-              flows over the course of time
                                                                     Learning goals Financial Management 1.4
          General learning goals:                                    (3 credits):
          Recognizing, describing, analysing and covering            1.	Calculate the value of various types of deben­
          financial, exchange rate and interest risks.                 tures
          Literature International Financial Management              2.	Calculate the value of various types of shares
          2.3 and 2.4:                                               3. Understand stock market information in the
          Eun: International Finance 6th Edition                       financial newspapers
          Publisher: McGrawHill

32   Study guide 2014-2015
Learning goals Financial Management 2.2                      Literature Financial Accounting 1.1, 1.2, 1.3 and 2.4
(4 credits):                                                 Reimers: Financial Accounting, a business process
1. Discuss operating and cash cycles and why they           approach
  are important. Furthermore, students will be               Publisher: Pearson
  asked to differentiate between the types of short          Literature Financial Accounting 3.1 and 3.2
  term financial policy.                                     Hoyle: Fundamentals of Advanced Accounting
2. Analyze how firms manage their receivables and           Publisher: McGraw-Hill
  the basic components of a firm’s credit policies.
                                                             Learning goals Financial Accounting 1.1 (3 credits)
Learning goals Financial Management 3.1                      1. Identify the elements of the four basic financial
(4 credits):                                                   statements (the Income Statement, the Balance
1. Discuss the effects of international diver­si­fication     Sheet, the Statement of changes in Shareholders’
  on the performance and risk of the portfolio                 Equity, and the Statement of Cash Flows), explain
2. Determine the cost of capital for an interna­tional        the purpose of each, and be able to use basic
   organisation                                                transaction analysis to prepare each statement.
3. Discuss the difference between domestic and              2. Explain and apply the accounting principles for
  international capital budgetting.                            financial reporting.
                                                             3. Construct the financial statements from trans­
5. Financial Accounting                                        actions that include accruals and deferrals and
    (21 credits in year 1, 2 and 3)                            recognize the effect of these transactions on
The Financial Accounting course is divisible into              actual financial statements.
three areas: Annual Accounting/Reporting,
International Financial Accounting (about IFRS,              Learning goals Financial Accounting 1.2 (3 credits)
US-GAAP and the different accounting traditions)             1. Operate the financial administration of a small
and Business administration. We will also look at              business enterprise on a basic level (book-
the consequences for relevance, reliability and                keeping, the accounting circle).
comparability of information in the Annual Report.           2. Apply credit management and financial analysis.
                                                             3. Account for Inventory and apply the major
General learning goals:                                        inventory cost flow assumptions.
1. Designing, set-up and maintaining (automated)
   financial and non-financial data systems.                 Learning goals Financial Accounting 1.3 (3 credits)
2. Supply financial and non-financial information           1. Recognize and explain how long-term assets are
  to the benefit of stakeholders outside the                   reported on the financial statements, and prepare
  organization.                                                financial statements that include long-term
3. Apply the accounting principles and accounting           assets.
  standards in making the annual report of an                2. Account for liabilities, prepare financial state-
  enterprise.                                                  ments that include long-term debt and explain
4. Determining and managing financial-economic                capital structure.
  and fiscal risks.                                          3. A
                                                                 ccount for Equity and prepare financial
5. Use financial statement analysis to the deci­sion-         statements that contain equity transactions.
  making process and to evaluate firm performance.

                                                                                                     Study guide 2014-2015 33
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