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Financial Accounting

The transparency of companies is essentially based on financial and non-financial accounting information, which is intended to make their net assets, financial position and results of operations comprehensible to outsiders. However, manipulations of the balance sheets of capital market companies - as in the case of Wirecard from 2020 - shake confidence in the German financial and capital markets. Sufficient balance sheet control and auditing of financial statements should therefore ensure the correctness of financial reporting. The modules of the Financial Accounting major address more advanced and interdisciplinary topics such as sustainability, digital transformation and the role of accounting for corporate governance (CG). Understanding and analyzing the effects of internal and external CG components, such as the interaction between the management board and supervisory board, shareholders, auditors, or regulations on corporate publicity, is a necessary prerequisite for making efficient and sustainable business decisions.

The Financial Accounting specialisation is aimed at students with an interest in advanced issues of international accounting (IFRS), auditing and corporate governance. Current developments in financial accounting, such as topics of sustainability (i.e., integrated reporting) and digital transformation, are addressed and analyzed through practice- and research-oriented modules. Students are thus enabled to understand, analyze and critically reflect on dynamic developments and complex interrelationships at the aforementioned but also future interface topics. The consequences resulting from corporate decisions for individual capital market players (e.g. investors), as well as for the capital market as a whole, regulators and standard setters, can also be assessed and evaluated. 

The Financial Accounting major provides students with advanced knowledge in the areas of international financial reporting (IFRS), auditing and corporate governance, which is necessary for a career up to CEO ("Chief Executive Officer") at listed companies. In this respect, by choosing this major, students can position themselves broadly and aim for a career path both with SMEs ("small and medium-sized enterprises") as well as with large internationally active corporations. The career prospects range from activities in the departments of accounting, (group) accounting, controlling or investor relations to activities in consulting, auditing and tax consulting companies to activities in financial services companies such as banks and insurance companies).

  • MW44 Bank Accounting
  • MW90 Digital Reporting & Data Science
  • MW106 Empirical Accounting and Auditing
  • MW107 Corporate Governance
  • MW112 Corporate Valuation and Audit
  • MW113 FACT Foundations

Requirements: This minor requires the successful completion of module MW106 Empirical Accounting and Auditing and MW107 Corporate Governance.

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