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4/7/2016
1
INFORMATION EVENING
MScACCOUNTANCY
Ann
ual re
port
of
IKEA
WHO’S WHO?
Dr. S. (Stephan) Hollander
Program Director MSc Accountancy
L. (Linda) van der Tuijn MA
Program Coordinator MSc Accountancy
4/7/2016
2
ROAD-MAP
Why MSc Accountancy?
Why Tilburg University?
Career perspectives?
Which tracks?Which courses?
Which teaching methods?
Internships?Guest lectures?Contact w/ companies?Etc.
Which lecturers?
WHY ACCOUNTING?
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3
Nr. 1 in the Netherlands
Nr. 7 in Europe in Business and Economics
WHY TILBURG?
WHY TILBURG?
LAW, MILLS 2015 Journal of Accounting Research“Taxes and financial constraints: Evidence from linguistic cues”
YOUNG, ZENG 2015 The Accounting Review"Accounting comparability and the accuracy of peer-based valuation models”
DE WAEGENAERE, SANSING, WIELHOUWER 2015 Contemporary Accounting Research"Financial accounting effects of tax aggressiveness: Contracting and measurement”
JIANG, KUMAR, LAW 2015 Review of Accounting Studies“Political contributions and analyst behavior”
HOLLANDER, VERRIEST 2015 Journal of Financial Economics“Bridging the gap: The design of bank loan contracts and distance”
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Doing Understanding
PRACTICE MEETS ACADEMIA
OUR LECTURERSMix of professionals/academics
OUR OBJECTIVEKnowledge, skills, and attitude
OUR ASSIGNMENTSReal-life cases/academic writing
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5
FACULTY
LEARNING OBJECTIVES
External reporting and analysis
• Demonstrate appropriate accounting methods to complete general accounting tasks
• Locate in the appropriate accounting literature relevant guidance on accounting
policies and measurement methods
• Prepare financial statements and other external reports, including note disclosures,
which are useful to external users for decision making
• Interpret financial and nonfinancial information (e.g., ratio analysis, trend analysis,
risk analysis, and forecasting) in external reports for decision making (e.g.,
investment, extension of credit, and audit risk)
• Explain how two alternative frameworks/standards/principles/methods applied to
a business transaction change financial and nonfinancial reporting (e.g., cash basis
vs. accrual basis; US GAAP vs. IFRS; disclosures in financial and nonfinancial
reporting)
• Give examples of how external reporting can be used to help an organization
(e.g., value-added activities), hurt an organization (e.g., intentional
misrepresentation), and keep an organization in compliance (e.g., regulation)
Planning, analysis, and control
• Analyze and explain the internal reporting needs of an organization
• Describe planning processes (e.g., strategic and operating plans, budgets,
forecasts, and risk management) to support the organization’s strategic planning
process
• Identify relevant quantitative and qualitative information required to make
organizational decisions (e.g., cash management, capital investment analysis,
product emphasis, and customer profitability) to support the organization’s strategic
and operating goals
• Interpret financial and nonfinancial performance data to assess operating
efficiency and effectiveness and identify areas for improvement
• Give examples of how planning, analysis, and control can help an organization
(e.g., variances identify quality problems), hurt an organization (e.g., budgetary
slack), and keep an organization in compliance (e.g., transfer pricing)
Information systems
• Explain how transactions are captured in an enterprise-wide information system
• Prepare a set of modules for an enterprise-wide information system (e.g., sales, accounts
receivable, procurement, etc.)
• Describe a conceptual framework for an information system that supports robust, real-time
management (e.g., activity-based costing, balanced scorecard) and financial reporting
• Describe and identify control weaknesses/risks in an information system control
environment
Assurance and internal control
• Explain professional standards for audits of the financial statements of public companies,
nonpublic companies, governmental entities, and not-for-profit entities
• Explain professional standards for other types of assurance engagements (e.g., reviews,
compilations, and special reports)
• Describe the different types of assurance engagements conducted by internal and
external auditors
• Prepare a set of internal control policies and procedures for a company using concepts of
COSO’s internal control framework
• Design an audit plan tailored to a client and the risks of that client
• Prepare assurance reports that document the work performed and how conclusions were
reached using relevant professional standards
• Give examples of organizations and stakeholders who were negatively impacted by
failures in operating, reporting, and compliance objectives (e.g., inefficient operations,
fraud, biased financial statements, and violations of laws and regulations)
Professional values, ethics, and attitudes
• Recognize ethical issues
• Use an ethical reasoning process to solve an ethical dilemma
• Identify the professional values and the attitudes and behavior consistent with those values
(e.g., integrity, objectivity, independence when applicable, professional skepticism, due
care, and global mind-set) that are appropriate for different ethical situations
• Demonstrate an open-minded attitude, including appreciation of cultural diversity and
empathy for other viewpoints
• Practice self-management, including a commitment to learning, an awareness of the
limitations of individual capabilities, objective consideration of others’ professional
criticism, and a desire for continuous improvement
• Recognize the profession’s broader economic and societal responsibility to the
public interest
Communication
• Write a professional report
• Make an oral presentation in a professional manner
• Apply appropriate content, form, and media to enhance understandability and
usefulness of communication for diverse situations and various internal and
external audiences
• Monitor the impact of communication to evaluate how well the desired meaning is
conveyed
Quantitative methods
• Use linear algebraic equations to determine revenue and profit targets (e.g., cost-
volume-profit models)
• Use statistical techniques (e.g., sampling and regression) to analyze data
• Draw appropriate conclusions based on statistical relationships
• Solve basic financial and operational problems and processes using appropriate
quantitative methods
• Use simulation and risk analysis techniques to evaluate alternative courses of
actions in financial and operating decisions
• Conduct sensitivity analyses to evaluate the reliability of results
• Describe limitations of various quantitative methods
Analytical thinking and problem solving
• Apply a systematic process of using professional judgment to solve a problem
• Explain the decision-making process in a professional accounting context
• Distinguish the level of quality and sufficiency of information in making a decision
(e.g., exercise due care; maintain skepticism; think independently; counteract bias,
deception, and distortion) and reconcile conflicting information
• Describe the process of gathering information about a situation before making a
decision (e.g., integrating information from diverse sources; recognizing and
questioning assumptions; and exploring interrelationships, and consequences)
• Explain how uncertainties and contingencies influence decision making
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6
Professional (RA/RC) trackCFA track
• Excellent preparation for a range ofcareers including auditing, consulting,corporate controller
• Stepping stone to PMA, ExecutiveMaster of Finance and Control
Offers a mix ofcore accounting andfinance courses, with
an emphasis oncorporatevaluation
CURRICULUM
Program MSc Accountancy 2016-17
RA/RC (Professional) track CFA track
Core courses Management Control Systems1
Master Thesis Proposal2
Corporate Financial Reporting3
Advanced Financial Accounting4
Master Thesis3-4
Compulsory courses Advanced Accounting Information Systems1
Advanced Auditing2
Financial Accounting Theory3
Financial Statement Analysis2
Empirical Methods in Finance1-2,*
Investment Analysis1
Financial Analysis and Investor Behavior4
Electives* Incentives and Contracts2
Financial Statement Analysis2
1) Block 1; 2) Block 2; 3) Block 3; 4) Block 4; *) Semester course
4/7/2016
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ELECTIVES
Registeraccountant (RA, CPA)
Register controller (RC)
Career?
Elective: Financial Statement Analysis
Elective: Incentives and Contracts
FINANCIAL STATEMENT ANALYSIS
Why pay $104 billion* for Facebook?
*) IPO offering price on May 18, 2012
4/7/2016
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INCENTIVES AND CONTRACTS
Latest scientific insights on:
- Executive compensation (options, bonus)
- Subjective performance evaluation
- Designing business units
- Promoting cooperation between units
- $1 CEO salaries
- Recruitment practices in family firms
- Et cetera
ADVANCED ACCOUNTING INFORMATION SYSTEMS
Employees are self-interested; how doget them act in the interest of the firm?Completeness
revenues?
4/7/2016
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MANAGEMENT CONTROL SYSTEMS
Employees are self-interested; how do youget them to act in the interest of the firm?
CAREER PERSPECTIVES
Policy
ma
kers
, g
ove
rnm
ent
Tax a
utho
rity
Cre
dit a
naly
st
Mut
ual fu
nd m
ana
ger
Chi
ef
Execu
tive
Off
icer
Chi
ef
Fina
ncia
l O
ffic
er
Loa
n off
icer
Secu
rity
ana
lyst
Aud
itor
(Exte
rnal, Int
ern
al)
Aud
it c
om
mitte
e
Bus
iness
rep
ort
er
Bus
iness
cons
ulta
nt
Corp
ora
te c
ont
roller
M&
A s
peci
alist
Inve
stor
Sup
erv
isory
boa
rd (A
FM, SEC
)
Fina
ncia
l m
ana
ger
Bus
iness
va
luato
r
Inte
rnal a
uditor
Mem
ber
of
Boa
rd o
f D
irect
ors
Inve
stor
rela
tions
off
icer
Treasu
rer
4/7/2016
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CFA TRACK
Financial professional
E.g., equity analyst, bond analyst, M&A specialist, investment banking
What do we offer?
- Excellent preparation for CFA-Level 1 exam (cover 70% of CBOK)- Possibility to participate in Global Challenge- Chance to win one of five scholarships- Admission to TiU’s CFA events
How to become a Certified Financial Analyst (CFA)?
- A self-study curriculum with three levels of examinations- Relevant education based on practitioner-driven global body of
investment knowledge- Emphasis on ethical and professional standards- Worldwide examination locations (including Amsterdam)
SUMMARY
Education tailored to your needs
- Two tracks, Professional (RA/RC) and CFA track
Teaching methods
- Teaching-award winning instructors
- Elective courses
- Company in-house days
- Ideal mix of research-active academics and leading professionals
- Interactive classes
Meet practice
- Real-life cases, writing consulting proposals, analyst report, etc.
Develop your skill set
- Critical mind, problem solving ability (how?), academic reflection (why?)
- Soft skills: writing, presenting, discussing
4/7/2016
11
POST-MASTER
Post-Master Accountancy (PMA)
- Three years, part-time on Fridays- No classes in January-April (“busy season”)
- Language? Dutch
- Where? Tilburg
European PMA
- Two-year program, blocks of 2 weeks- RA title + (e.g., Spain, USA)
- Where? May (Netherlands), July (Spain), November(Romania)
- Language? English
- www.tilburguniversity.edu/pma
- www.tilburguniversity.edu/epma
RESEARCH MASTER
Top students
- Develop analytical skills, econometric/statistical skills
- Economics of business and accounting- Academic reflection on corporate valuation, management accounting
and the role of accounting
Career opportunities
- Prepare for Ph.D, Professor of Accounting- Top position at (international) company
- Big data analyzing skills (much wanted!)
- Personal approach: one-on-one supervision
Placements
- In business: Duff & Phelps, Philips, De Nederlandsche Bank- In academics: University of Chicago, Nanyang Technological University
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CAREER SUPPORT
Student Career Center and Alumni Services
Guiding you in your career planning process:
- Career workshops
- Individual career advice
- www.tilburguniversity.edu/careercenter
- TiSEM Career Mentor Program
Contact
- Build your CV: internships, board positions
- www.tilburguniversity.edu/alumni-tisem
Meet us
At the Master Fair, from 7:00-9:00 PM, in Academia building(get in contact with companies, students, study advisors, and program coordinators)
VISIT US
MA S T E R ’ S S T U D E N T F O R A DAY MA I L A S T U D E N T
ME E T S T U D E N T S, A LU MN I A N D L E C T U R E R S
O N L I N E C A MP U S TO U RWWW.TILBURGUNIVERSITY.EDU/
EDUCATION/MASTERS-PROGRAMMES/
ACCOUNTANCY/VISITUS
4/7/2016
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ADMISSION
All students
www.tilburguniversity.edu/education/masters-
programmes/admissionprocedure/feb/
You can enroll using Studielink
Non-TiSEM students
Non-TiSEM students, who want to enroll in a(pre-) Master program also need to submit anapplication for admission
More information?
QUESTIONS?
Dr. S. (Stephan) Hollander
Program Director MSc Accountancy
L. (Linda) van der Tuijn MA
Program Coordinator MSc Accountancy
For questions regarding:
- Admission to the program
- Program set-up
- Other (practical) matters
Or, FAQs at