The course

Delivery
Full-time, Part-time, Per course
Course type
Taught
Location
Edinburgh
Entry date
September, January

This masters degree is designed to enhance your employment potential across international banking, accounting and finance functions of multinational organisations.

Contact

Entry dates

January entrants

Students starting the programme in January should note that it runs full-time for 16 months, comprising: a semester of teaching (January to April 2021), a summer break, a semester of teaching (September to December 2021), a dissertation (January to April 2022). See our academic calendar for more information on semester dates.

For January entry please apply before 1 December 2020. We guarantee to consider any completed applications received by this date. For, any applications submitted between 2 and 18 December, we will make an offer where possible in advance of the start of semester, but we may need to make an alternative offer for September entry (if accepted).

September entrants

Those starting the programme on a full-time basis in September 2021 will complete their programme in 12 months.

Overview

With a focus on the ever-changing global financial markets, this MSc in Accounting and Finance aims to equip graduates with highly employable expertise and a thorough understanding of current issues in global financial markets – both academically and professionally.

On this MSc you will take six main courses on the subject of international accounting and be offered a choice of one specialist per semester. These courses will give you an international perspective on accounting and help you understand things like national differences, harmonisation and the challenges and problems facing multinational companies.

You will have the opportunity to apply your newly acquired knowledge and expertise gained from courses in international banking, financial markets and accountancy to a subject of interest to you in your dissertation research project which is undertaken during the summer months. 

Our partnership with Bloomberg 

Heriot-Watt University is a named Bloomberg Experiential Learning Partner (ELP), a programme designed by Bloomberg to recognise universities that are leaders in experiential learning. 

Our partnership with Bloomberg, and the achievement of ELP status, is a mark of our innovative approach to connecting our teaching experience with real-life practical applications. Being a Bloomberg experiential learning partner allows Heriot-Watt and Edinburgh Business School to better integrate industry-leading data, research, news and analytics into our curricula.

The Bloomberg facility at Heriot Watt University is unique in Scotland and enables students from different disciplines of business to better understand different aspects of markets, business behaviours and economic trends. It enables:

  • Performance comparison between different companies or industries using: financial reports, company valuations, company news, company portfolios, key changes/trends. 
  • Supply chain analysis through company’s supply chain relationships that includes suppliers, customers and competitors. This enables managers to refine their supply chain configuration and strategy.
  • Market share analysis by providing key industry data, interactive charting and commentary by Bloomberg industry experts.  It also provides industry fundamental statistics, market share and other key industry specific metrics (i.e. retailers, airlines, global auto manufacturing, etc.)
  • Strategic portfolio analysis through creating portfolios against markets and market positions, allocation of asset and performance attribution analysis.
  • Accounting and Financial analysis by providing financial history of companies and indices including current and historical income statements, balance sheets, cash flow statements, ratio analysis and more.  

Programme duration

The full-time course starts in mid-September and lasts one year. The course can also be taken part-time over two years, or as a nine month Postgraduate Diploma.

  • MSc - 12 months full-time; 24 months part-time
  • PGDip - 9 months full-time; 21 months part-time

Accreditation

Successful completion of our MSc International Accounting and Finance programme grants the following ACCA Exemptions: F1 Accountant in Business; F2 Management Accounting; F3 Financial Accounting and F4 Corporate and Business Law. These exemptions mean you will be able to qualify more quickly than other graduates.

Course content

Semester 1 (Sept - Dec)

  • Corporate Finance
  • Financial Analysis
  • International Accounting Standards

One from:

  • Capital Markets
  • Corporate Governance

Semester 2 (Jan - April)

  • International Accounting Theory
  • International Managerial Accounting
  • Research Methods

One from:

  • Accounting, Profession, Society
  • Comparative Financial Reporting
  • Emerging Financial Markets
  • Research in Finance

Between May and August students undertake their MSc dissertation.

Semester 1

Corporate Finance

Semester 1 (mandatory)

The aim of this course is to introduce you to contemporary topics in corporate finance and look at the major decisions facing a firm in this area.

Financial Analysis

Semester 1 (mandatory)

Looks at how to analyse the financial performance of an organisation through the use of published financial information.

International Accounting Standards

Semester 1 (mandatory)

Evaluate theories and empirical studies in the areas covered by international standards of accounting, analyse the outcome of the standard setting process from different theoretical perspectives, and assess observed practices in terms of regulatory and cultural frameworks.

Captial Markets

Semester 1 (optional)

Examines the way capital markets and institutions function in practice, with particular emphasis on equities and bonds.

Corporate Governance

Semester 1 (optional)

Develops understanding of issues relating to corporate governance and the financial research methods used to approach them including principal-agent theory, ownership structure and control, board of directors, CEO turnover, mergers and acquisitions and state versus private ownership.

Semester 2

International Accounting Theory

Semester 2 (mandatory)

Develops understanding of the theoretical framework within which accounting currently operates internationally, and nature and development of accounting theory in different countries. This includes the process of construction and verification of accounting theory within an international context and critical awareness of the attitudes and underlying beliefs that have made the historical development of the subject controversial.

International Managerial Accounting

Semester 2 (mandatory)

Develops understanding and analytical skills of management accounting in an international and comparative context. Includes the changing roles of accountants in a global environment, culture and complexity in management accounting, and managerial accounting in the strategic environment.

Research Methods

Semester 2 (mandatory)

Looking at both qualitative and quantitative techniques this course will equip students with the means to develop and carry out their own research projects and to evaluate the contributions of others.

Accounting, Profession, Society

Semester 2 (optional)

This course builds understanding around the role of professional accounting in contemporary society. It addresses issues related to equality and professional exclusion and explores issues related to sustainability of the accounting profession globally.

Comparative Financial Reporting

Semester 2 (optional)

Provides an international perspective to the study of accounting by looking at the reasons for national differences, the tendencies towards harmonisation, the problems of multinational companies, as well as analysis and evaluation of financial reports prepared in other countries.

Emerging Financial Markets

Semester 2 (optional)

Supplements understanding of mainstream finance during the year, and applies it to the specific circumstances of emerging financial markets. This exposure is also designed to assist you with identifying possible dissertation topics and data sources.

Research in Finance

Semester 2 (optional)

Covers quantitative methods used in research in the area of finance and financial markets. It will extend knowledge from the main Research Methods course by equipping students with modern methodology applied for the time series analysis. The first part of the course is focused on the theory and the second one on practical applications in the computer lab.

Students will build models of stock and currency prices, evaluate them using different criteria and use them for the forecasts and formulation of trading strategies. They should perform their own work using real data from financial markets. By applying modern econometric methods, students will prepare themselves for their dissertation as well as for further research, either in academia or in the non-academic world.

Programme leader

The Programme Director is Dr Eleni Chatzivgeri

The MSc International Accounting & Finance is delivered by a dedicated team of lecturers from the Accountancy, Economics and Finance subject disciplines within the School of Social Sciences, all of whom have specialist knowledge in their respective subject areas.

Additional information

There is series of guest lectures given by accounting and finance professionals.

Accountancy, Economics and Finance also run a seminar programme each year, which includes guest speakers from other institutions and companies.

Entry requirements

A good Honours degree (first or second class), or its non-UK equivalent, in a relevant subject from a recognised British or overseas university.

Work or project experience in the area of finance will be of further advantage.

English language requirements

If your first language is not English, or your first degree was not taught in English, we’ll need to see evidence of your English language ability.

The minimum English language requirement for entry to this programme is IELTS 6.5 (or equivalent) with no component lower than 6.0.

If you do not have IELTS 6.5, we offer a range of English language courses to help you meet the English language requirement for this programme prior to commencing your studies:

  • 14 weeks English (for IELTS of 5.5 with minimum of 5.0 in all skills)
  • 10 weeks English (for IELTS of 5.5 with minimum of 5.5 in reading & writing and minimum of 5.0 in speaking & listening)
  • 6 weeks English (for IELTS of 5.5 with minimum 5.5 in all skills)

Fees

Tuition fees for entry
Status Full-time Part-time Per course
UK / EU £7400 £3700 £925
Overseas £16400 £8200 £2050
Tuition fees for entry
Status Full-time Part-time Per course
UK £7552 £3776 £944
Overseas £16728 £8364 £2091

Footnotes

  1. If you are unsure which residency status category you fall in to, you should complete a fee status enquiry form, which allows us to assess your fees.
  2. Fee per course (module). Refer to the Course Content to see how many courses comprise the full programme.
  3. Overseas includes applications from European Union countries who do not hold Pre-Settled or Settled status in the UK. Read more about the application process for EU nationals.

Scholarships and bursaries

We aim to encourage well-qualified, ambitious students to study with us and we offer a wide variety of scholarships and bursaries to achieve this. Over £6 million worth of opportunities are available in fee and stipend scholarships, and more than 400 students benefit from this support.

View our full range of postgraduate scholarships.