Το πρόγραμμα έχει σχεδιαστεί έτσι ώστε να παράσχει στους σπουδαστές τις ουσιαστικές αρχές για την έναρξη σταδιοδρομίας στη Λογιστική και στα Χρηματοοικονομικά, είτε στη βιομηχανία είτε στο δημόσιο τομέα. Στο πρόγραμμα εξετάζονται οι θεωρητικές και πρακτικές πτυχές της Λογιστικής και των Χρηματοοικονομικών και παρέχεται η δυνατότητα στους σπουδαστές να αναπτύξουν δεξιότητες στην ετοιμασία, έλεγχο και ανάλυση λογιστικών εκθέσεων για επιχειρήσεις, την εφαρμογή σύγχρονων προτύπων Λογιστικής, καθώς επίσης την ανάλυση και χρηματοδότηση επενδύσεων και θεμάτων διαχείρισης χρηματοοικονομικών κινδύνων. Αναπτύσσεται επίσης η ικανότητα διεξαγωγής και παρουσίασης των αποτελεσμάτων ερευνών σε τομείς σχετικούς με τη Λογιστική και τα Χρηματοοικονομικά.

* Το Πρόγραμμα σπουδών προσφέρεται στην Αγγλική γλώσσα για να προετοιμάσει καλύτερα τους φοιτητές για περαιτέρω σπουδές και να τους προσφέρει επιπλέον εφόδια για την αγορά εργασίας. Για φοιτητές που δεν έχουν την Αγγλική ως μητρική γλώσσα ή αντιμετωπίζουν δυσκολίες ή ελλείψεις, το Πανεπιστήμιο Frederick παρέχει διάφορα μέτρα στήριξης ώστε να μπορέσουν να ανταπεξέλθουν στις απαιτήσεις του προγράμματος.

Εργαστήρια
Το πρόγραμμα υποστηρίζεται από τα γενικής χρήσης εργαστήρια πληροφορικής του Πανεπιστημίου. Αυτά τα εργαστήρια, με μεγάλο αριθμό σταθμών εργασίας, προσφέρουν μεγάλη ποικιλία από λογισμικά προγράμματα, συμπεριλαμβανομένων εφαρμογών γραφείου και εκπαιδευτικά λογισμικά πακέτα. Τα εργαστήρια παρέχουν διαδικτυακή πρόσβαση υψηλών ταχυτήτων και εγκαταστάσεις εκτύπωσης. Επίσης, το πρόγραμμα υποστηρίζεται από τις Βιβλιοθήκες του Πανεπιστημίου, οι οποίες εμπλουτίζονται συνεχώς με μεγάλο αριθμό βιβλίων και επιστημονικών περιοδικών και παρέχουν ηλεκτρονική πρόσβαση σε εξειδικευμένες βάσεις δεδομένων.

Πρακτική Άσκηση
Το πρόγραμμα είναι σχεδιασμένο έτσι ώστε οι φοιτητές να αποκτήσουν γνώσεις εφαρμοσμένης λογιστικής και χρηματοοικονομικής ανάλυσης μέσα από πρακτική εξάσκηση πάνω σε πραγματικές υποδειγματικές μελέτες με πραγματικά στοιχεία.

ΙΚΑΝΟΤΗΤΕΣ ΚΑΙ ΔΕΞΙΟΤΗΤΕΣ ΠΟΥ ΘΑ ΑΠΟΚΤΗΘΟΥΝ

  • Ικανότητα ετοιμασίας και ελέγχου λογιστικών εκθέσεων και ανάλυση και μελέτη σεναρίων.
  • Ικανότητα διεξαγωγής έρευνας σε τομείς σχετικούς με τη λογιστική, τα χρηματοοικονομικά και τις επιχειρήσεις.
  • Ικανότητα παρουσίασης των ευρημάτων της έρευνας ή των εργασιών σε τομείς σχετικούς με τη λογιστική, τα χρηματοοικονομικά και τις επιχειρήσεις.
  • Δεξιότητα ανάπτυξης χρηματοοικονομικών μοντέλων.
  • Δεξιότητα εφαρμογής προτύπων λογιστικής.
  • Δεξιότητα στατιστικής ανάλυσης οικονομικών, λογιστικών και χρηματοοικονομικών στοιχείων.

Τομείς εργοδότησης
Άμεση εργοδότηση στον ιδιωτικό ή το δημόσιο τομέα στα ακόλουθα επαγγέλματα:

  • Λογιστής (Accountant)
  • Αναλογιστής (Actuary)
  • Ορκωτός Ελεγκτής Λογιστής (Auditor)
  • Οικονομικός Αναλυτής (Financial Analyst)
  • Χρηματοοικονομικός Σύμβουλος (Financial & Investment Manager)
  • Χρηματιστής (Stock Broker)

Συνέχιση σπουδών
Το πρόγραμμα θέτει τα θεμέλια για μεταπτυχιακές σπουδές επιπέδου Master ή Διδακτορικού. Επίσης, οι φοιτητές μπορούν να παρακολουθήσουν συμπληρωματικές σπουδές για απόκτηση των επαγγελματικών προσόντων των σωμάτων:

  • ΑΙΑ (Association of International Accountants)
  • ACCA (Association of Chartered Certified Accountants)
  • ICAEW (Institute of Chartered Accountants of England and Wales)

Απαιτήσεις Προγράμματος

Το πρόγραμμα στηρίζεται στο σύστημα συσσώρευσης ευρωπαϊκών πιστωτικών μονάδων ECTS. Στους φοιτητές απονέμεται το Πτυχίο Λογιστικής & Χρηματοοικονομικών με τη συμπλήρωση 240 πιστωτικών μονάδων. Οι μονάδες αυτές κατανείμονται σε υποχρεωτικά και επιλεγόμενα μαθήματα. Στους πιο κάτω πίνακες φαίνονται οι διάφορες κατηγορίες μαθημάτων και οι λίστες με τα μαθήματα της κάθε κατηγορίας.

 

Κατηγορία Μαθημάτων ECTS
Υποχρεωτικά 165
Επιλεγόμενα Ειδικότητας 65
Ελεύθερης Επιλογής 10
Σύνολο 240

Υποχρεωτικά Μαθήματα

Ο φοιτητής πρέπει να συμπληρώσει επιτυχώς 165 ECTS, από την ακόλουθη λίστα μαθημάτων:

No. Κωδικός Όνομα ECTS Ώρες/Εβδ.
1 ABSA101 Εισαγωγή στη Λογιστική Ι 5 3
2 ABSA102 Εισαγωγή στη Λογιστική ΙI 5 3
3 ABSA203 Χρηματοοικονομική Λογιστική Μέσου Επιπέδου Ι 5 3
4 ABSA204 Χρηματοοικονομική Λογιστική Μέσου Επιπέδου ΙI 5 3
5 ABSA205 Κοστολόγηση και Διοικητική Λογιστική Ι 5 3
6 ABSA206 Κοστολόγηση και Διοικητική Λογιστική ΙΙ 5 3
7 ABSA307 Προχωρημένα Θέματα Λογιστικές Πρακτικής 5 3
8 ABSA308 Προχωρημένη Θεωρία Λογιστικής 5 3
9 ABSA408 Θεωρία Και Πρακτική Ελεγκτικής Ι 5 3
10 ABSA411 Θεωρία Και Πρακτική Ελεγκτικής ΙΙ 5 3
11 ABSA413 Φορολογία Ι 5 3
12 ABSA414 Φορολογία ΙΙ 5 3
13 ABSE101 Εισαγωγή στη Μικροοικονομική 5 3
14 ABSE102 Εισαγωγή στη Μακροοικονομική 5 3
15 ABSL210 Δίκαιο των Επιχειρήσεων Ι 5 3
16 AFCS101 Επιχειρηματική Επικοινωνία Ι 5 3
17 AFCS102 Επιχειρηματική Επικοινωνία ΙΙ 5 3
18 AFIM101 Διαχείριση της Πληροφορίας 5 3
19 AFIN101 Χρηματοοικονομική Ι 5 3
20 AFIN102 Χρηματοοικονομική ΙΙ 5 3
21 AFIN203 Χρηματοοικονομική των Επιχειρήσεων Ι 5 3
22 AFIN204 Χρηματοοικονομική των Επιχειρήσεων ΙΙ 5 3
23 AFIN305 Χρηματοοικονομικές Αγορές και Θεσμοί 5 3
24 AFMA101 Μαθηματικά I 5 3
25 AFMA102 Μαθηματικά II 5 3
26 AFOT101 Εισαγωγή στην Οργανωσιακή Θεωρία Ι 5 3
27 AFOT102 Εισαγωγή στην Οργανωσιακή Θεωρία ΙΙ 5 3
28 AFPR449 5 0
29 AFPR450 5 0
30 AFRM201 Μεθοδολογία της Έρευνας I 5 3
31 AFRM202 Μεθοδολογία της Έρευνας II 5 3
32 AMAT112 Στατιστική I 5 3
33 AMAT210 Στατιστική II 5 3

Επιλεγόμενα Μαθήματα Ειδικότητας

Ο φοιτητής πρέπει να συμπληρώσει επιτυχώς 65 ECTS, από την ακόλουθη λίστα μαθημάτων:

No. Κωδικός Όνομα ECTS Ώρες/Εβδ.
1 ABSA310 Διεθνής Λογιστική 5 3
2 ABSA405 Προχωρημένη Διοικητική Λογιστική Ι 5 3
3 ABSA406 Προχωρημένη Διοικητική Λογιστική ΙΙ 5 3
4 ABSA409 Προηγμένη Ελεγκτική Θεωρία και Πρακτική Ι 5 3
5 ABSA412 Προηγμένη Ελεγκτική Θεωρία και Πρακτική ΙΙ 5 3
6 ABSE203 Μικροοικονομική Ανάλυση 5 3
7 ABSE204 Μακροοικονομική Ανάλυση 5 3
8 ABSL310 Δίκαιο των Επιχειρήσεων ΙΙ 5 3
9 ABSO201 Διαχείριση Επιχειρήσεων Ι 5 3
10 ABSO202 Διαχείριση Επιχειρήσεων ΙΙ 5 3
11 ABSO204 Διαχείριση Ανθρώπινων Πόρων 5 3
12 ABSO307 Επιχειρηματική Πολιτική και Στρατηγική Διοίκηση 5 3
13 ABSO423 Διεθνείς Επιχειρήσεις 5 3
14 AFAI300 5 3
15 AFAT420 Προηγμένη Φορολογία Ι 5 3
16 AFAT421 Προηγμένη Φορολογία ΙΙ 5 3
17 AFBE320 Λογιστική & Επιχειρηματική Ηθική 5 3
18 AFCE330 Συγκριτική Ανάλυση Οικονομικών Συστημάτων 5 3
19 AFCE410 Τρέχοντα Οικονομικά Θέματα 5 3
20 AFCP210 Πακέτα Εφαρμογών Η/Υ 5 1 + 2
21 AFIE315 Βιομηχανική Οικονομική 5 3
22 AFIE320 Διεθνής Πολιτική Οικονομία 5 3
23 AFIN306 Ανάλυση Επενδύσεων, Θεωρία και Διαχείριση Χαρτοφυλακίου 5 3
24 AFIN411 Διεθνή Χρηματοοικονομικά 5 3
25 AFME325 Χρηματιστηριακά Οικονομικά 5 3
26 AFOR310 Επιχειρησιακή Επιστήμη Ι 5 3
27 AFOR320 Επιχειρησιακή Επιστήμη ΙΙ 5 3
28 AFPE310 Δημόσια Οικονομικά 5 3
29 AFRE410 Σύγχρονα Ζητήματα Χρηματοοικονομικής Πληροφόρησης 5 3

Μαθήματα Ελεύθερης Επιλογής

Ο φοιτητής πρέπει να συμπληρώσει επιτυχώς 10 ECTS

ABSA101: Εισαγωγή στη Λογιστική Ι

Course Contents

Accounting equation: Understanding and applying the basic accounting equation.

Double entry bookkeeping: as applied to: assets, liabilities, capital, revenue, purchases and Expenses. Be able to balance off accounts.

Returns and carriage: Understanding and applying the accounting treatment of returns and carriage.

The ledger and its possible sub-divisions: Understanding the distinction between personal, real and nominal accounts.

Discounts: Applying the accounting treatment of discounts.

Capital and revenue expenditure: Understanding the distinction between capital and revenue expenditure.

Trial balance: The extraction of the Trial Balance from the ledger accounts.

Final Accounts: Introduction to Final accounts.

Adjustments to the final accounts:  These include adjustments for accruals, depreciation, prepayments, bad debts and the provision for bad debts.

Preparing final accounts: Preparing the Trading and Profit and Loss Account and Balance Sheet after dealing with adjustments.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the basic principles underlying the recording of business transactions and have the ability to prepare accounts for sole traders.
  2. Apply the concept of double entry bookkeeping and also be in a position to prepare a Trading and a Profit and Loss Account for a sole trader-involving end of year adjustments.
  3. Understand the notion of profit and its significance in the successful continuation of a business and calculate its value
  4. Examine the concept of profit in accounting to that of profit and competitiveness in other business disciplines.
  5. Use the understanding of accounting to evaluate the performance of companies.

ABSA102: Εισαγωγή στη Λογιστική ΙI

Course Contents

Correction of errors and journals: Understanding and applying journal entries to correct errors in the accounting records.

Control accounts: Preparing the sales ledger and purchase ledger control accounts.

Incomplete records: Preparing final accounts from incomplete records.

Non-profit organisations: Preparing final accounts for non-profit organisations.

Manufacturing accounts: Understanding their purpose and constructing manufacturing accounts.

Introduction to ratio analysis: Examination of key indicators for the financial performance and financial position of a firm.

Introduction to stock valuation: Identify and examine methods for carrying out stock valuation.

Introduction to partnership accounts:  These include: the legal framework, appropriation accounts and partners’ personal accounts.

Introduction to limited company accounts: Compare the differences between sole trader and limited company accounts.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Prepare accounts for manufacturing businesses and partnerships. Furthermore to be able to apply the principles of double entry and prepare accounts from incomplete records
  2. Evaluate the basic financial accounting concepts and prepare final accounts for all types of business.
  3. Formulate an opinion at more advanced accounting subjects when analysis will become a key aspect.
  4. Compare the differences between how companies perform in terms of their accounting profits, with the differences between how companies perform in terms of other measures of performance
  5. Consider the accuracy of accounts as means of measuring how companies perform over the business cycle.

ABSA203: Χρηματοοικονομική Λογιστική Μέσου Επιπέδου Ι

Course Contents

Double entry bookkeeping for company reorganisations: Issues of shares and debentures. Bonus issues, share splits and rights issues

Investment accounts: Examine the theory and practice of double entry bookkeeping as applied to investments with their effect on the balance sheet.

Redemption of securities: Legislation concerning redemption of securities. Ledger and journal entries.

Limited company accounts for internal use: Preparing final accounts for limited company accounts for internal use.

Limited company accounts for publication: Examine formats in line with the relevant legislation and accounting standards. Preparing final accounts for limited company accounts for publication.

Accounting standards: Examination of main principles and accounting standards concerning tangible assets, intangible assets and depreciation.

Introduction to group accounts:  Analyse the significance of subsidiaries and minority interests to group accounts. Be able to prepare consolidated adjustments for goodwill, minority interests and the retained profit. The preparation of group accounts concerning a two-company group.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Prepare investment accounts for limited companies and apply the principles of double entry to company reorganisations including the issue of shares and debentures.
  2. Construct limited company accounts either for publication or for internal use
  3. Examine and apply the accounting standards in the areas of: tangible assets, intangible assets and depreciation
  4. Appraise the financial performance and financial position of limited companies
  5. Apply the basic principles of group accounts.

ABSA204: Χρηματοοικονομική Λογιστική Μέσου Επιπέδου ΙI

Course Contents

Advanced aspects of group accounts: Prepare group statements of financial position (balance sheets). Examine consolidated adjustments such as inter group profits, fair value adjustments and inter company balances amongst others. Solving exercises on consolidated adjustments.

Theory of business combinations: Examine the theory and practice of business combinations.

Ratio analysis: Examine the rationale behind ratio analysis. Identify the formulas concerning the main profitability ratios, liquidity ratios, efficiency ratios and investment ratios and their interpretation. Interpret the financial performance and position of the firm from financial statements.

Statements of cash flow: Examine formats in line with international accounting practice. Preparing statements of cash flows for limited company for publication. Interpretation of the results.

Acquisitions of unincorporated businesses: Examine the double entry bookkeeping when an unincorporated business (such as a partnership) is acquired by a limited company. Analyse the double entry bookkeeping from the company viewpoint concerning the acquisition. Interpretation of the results.

Disposals of partnership businesses:  Analyse the reasons behind partnership dissolutions. Examine the double entry bookkeeping when a partnership is disposed of to a limited company. Analyse the double entry bookkeeping from the company viewpoint concerning its acquisition.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Apply financial accounting principles in a corporate setting. Emphasis will be on developing the student’s analytical and critical abilities
  2. Prepare group accounts involving consolidation adjustments and interpret the financial position of the group.
  3. Prepare statements of cash flows in accordance with international accounting standards and be in a position to interpret the results.
  4. Interpret the financial performance and financial position of limited companies using ratio analysis.
  5. Examine advanced aspects of partnership accounting

ABSA205: Κοστολόγηση και Διοικητική Λογιστική Ι

Course Contents

Introduction to cost and financial accounting: Contrast cost with financial accounting. Identify and define costs by classification and behaviour.

Accounting for materials: applying the FIFO, LIFO and Weighted average methods of stock valuation. Understanding how each method may affect the firm’s profitability.

Costing for labour: Understanding different methods of remuneration such as the time basis and piecework basis and applying these methods. Payroll accounting.

Costing for overheads: Explain the terms “allocation”, “apportionment” and “absorption” in the context of overhead accounting. The overhead analysis sheet and its application to determining an overhead absorption rate. Understanding the process of determining the overhead absorption rate.

Specific order costing techniques: Examining and applying job costing, batch process costing and contract costing.

Process costing: Applying the double entry bookkeeping principles for process costing. Understanding and applying the treatment of losses (normal and abnormal) and equivalent units.

Joint costs:  Examine the accounting treatment of joint costs and by products.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Compare and contrast cost accounting to financial accounting.
  2. Identify and define costs by classification and behaviour.
  3. Evaluate the concept of cost behaviour and explain its relevance to costing.
  4. Examine the principles of costing concerning materials, labour and overheads and apply these to mini-case studies.
  5. Develop the techniques involved in specific order and continuous costing to solve mini-case studies.

ABSA206: Κοστολόγηση και Διοικητική Λογιστική ΙΙ

Course Contents

Stock control: Evaluate the concept of the economic order quantity and its relevance to stock control. Applying costing techniques to assist in making decisions on stock management.

Marginal and Absorption costing: Preparing profit statements using the marginal costing and absorption costing systems. Be in a position to interpret the results and to understand the differences between the two costing systems.

Break even analysis: An introduction to break-even analysis (cost volume profit analysis).  Calculating the break-even point either graphically or by formula. Be able to construct a profit-volume chart and understanding the differences with that of the break-even chart. Be able to solve problems when variables concerning costs or revenues change.

Standard costing and variance analysis: An introduction to standard costing and its relevance to controlling performance. Applying variance analysis to mini case studies and is in a position to interpret the results.

Budgeting and Budgetary Control: Understand the theoretical concepts concerning budgets including the relationship of behaviour to budgets. Be able to prepare cash budgets and master budgets and understanding the results. The preparation of other budgets such as sales and production.

Costs for Decision-Making: Applying Marginal Costing techniques used in short –term decision making such as make or buy, accept or reject and limiting factor decisions.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Evaluate the concept of the economic order quantity and its relevance to stock control.
  2. Explain the theoretical background to break even analysis and apply it to decision-making.
  3. Construct profit statements using different cost accounting systems and be in a position to interpret the results.
  4. Prepare budgets (such as cash budgets) and be in a position to interpret the results.
  5. Apply the techniques used in variance analysis to solve mini-case studies.

ABSA307: Προχωρημένα Θέματα Λογιστικές Πρακτικής

Course Contents

Advanced aspects of consolidated accounts: Prepare group statements of financial position (balance sheets) and financial performance (statements of comprehensive income). Examine consolidated adjustments such as inter group profits, fair value adjustments and inter company balances amongst others. Solving exercises on consolidated adjustments. Examine the accounting treatment of associates and joint ventures.

Accounting standards: Examination of main principles and accounting standards concerning non-current assets, inventories, provisions, contingencies, post balance sheet events, prior year adjustments, investments, construction contracts and goodwill.

Interpretation of performance: Examine the rationale behind ratio analysis. Examine performance indicators used in investment decisions. Interpret the financial performance and position of the firm (including public companies) from financial statements.

Statements of cash flow: Examine formats in line with international accounting practice. Preparing statements of cash flows for limited company for publication. Interpretation of the results. Introduction to the principles of consolidated statements of cash flow.

Limited company accounts for publication: Examine formats in line with the relevant legislation and accounting standards. Preparing final accounts for limited company accounts for publication that includes applications of accounting standards.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Examine the principles concerning group accounting and use this knowledge to prepare consolidated accounts for groups.
  2. Identify the principles of the cash flow statement and prepare cash flow statements in accordance with international accounting standards.
  3. Prepare limited companies accounts to comply with International Accounting Standards, International Financial Reporting Standards and other related pronouncements.
  4. Interpret the information provided by limited companies accounts, group accounts notes to the financial statements and cash flow statements.
  5. Appraise the accounting standards applicable at the time to: non-current assets, inventories, provisions, contingencies, post balance sheet events, prior year adjustments, construction contracts and goodwill.

ABSA308: Προχωρημένη Θεωρία Λογιστικής

Course Contents

Complex aspects of consolidated accounts: Examine and prepare complex group accounts that include amongst others: disposals of group companies, piecemeal acquisitions and foreign subsidiaries.

Fair value accounting: Identify the accounting framework in international accounting and based on this critically evaluate the practice on fair value accounting.

Impairment of assets and goodwill: Critically appraise the accounting practice of impairment of assets to accounting theory. Critically appraise the different ways goodwill could be accounted for.

Provisions and contingencies: Examine the accounting practice and disclosures in line with international accounting practice.

Substance over form: Critically evaluate the debate between economic substance over legal form in accounting and examine the various areas where there is a conflict between the two. Review the developments concerning off balance sheet finance. Critically appraise the effects on performance and on the financial position of off balance sheet options.

Current developments: Examine recent proposals by international accounting standard setters concerning changes in accounting practice (including discussion papers). Critically appraise the current developments in international accounting practice concerning proposed changes. Examine changes in practice in financial instruments. Examine the issue of hamonisation of accounting practice. Examine the IASB Framework and its influence on accounting practice.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Examine and prepare complex group accounts that include amongst others: disposals of group companies, piecemeal acquisitions and foreign subsidiaries.
  2. Appraise the legitimacy and acceptability of an accounting practice proposed by a company.
  3. Examine the accounting standards applicable at the time to: provisions, contingencies, financial instruments, fair value accounting and impairment of assets.
  4. Develop the ability to solve complex practical accounting problems.
  5. Evaluate current developments in corporate reporting in the context of their practical application, implications for corporate reporting and the underlying conceptual issues.

ABSA408: Θεωρία Και Πρακτική Ελεγκτικής Ι

Course Contents

The nature and purpose of an audit: Audit objectives. The role of auditors. The expectation gap. The changing role of an audit. Internal versus external audits.

Professional and legal regulation: The auditor’s duties and responsibilities concerning the statutory audit. The law concerning the removal, appointment and resignation of auditors. Rules of professional ethics. Auditor independence.

Fundamental principles and the framework of an audit: True and fair concept. Materiality. Evaluating compliance of financial statements with accounting requirements.

An overview of the auditing process: Audit planning. Audit evidence – collection and analysis. Evaluation of internal controls and procedures. The balance sheet audit and the audit report.

Review of financial statements and audit reports: Explain and understand the role of the review of the financial statements to the audit process.  Tasks to be carried out in the review. Different types of audit reports that may be issued. Analyse the contents of an audit report. Small and medium sized companies and the audit.

Introduction to the internal audit: Internal audit versus external audit.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify and discuss the nature, purpose and scope of an audit.
  2. Compare and contrast the characteristics of an internal and external audit
  3. Appraise the statutory and professional duties of an audit.
  4. Examine the true and fair view and its significance to the audit.
  5. Design an audit plan when given a mini-case scenario.

ABSA411: Θεωρία Και Πρακτική Ελεγκτικής ΙΙ

Course Contents

Audit evaluation and planning: Engagement letters. Developing an audit plan. Sources of audit evidence. Establishing materiality levels, statistical sampling and size. Audit and business risk. Substantive analysis at the planning stage. Designing, documenting and re-evaluating the audit plan.

Internal Controls and Audit Testing: Internal controls, objectives, procedures and tests of control. Computer systems and internal controls.

The Income Statement Audit: Auditing the sales and purchases system. Auditing wages, cash and various other systems.

The Balance Sheet Audit-Assets: Audit procedures, controls and tests for: Inventories, Non-current assets; Receivables, Cash and other current assets.

The Balance Sheet Audit-Liabilities and Equity: Audit procedures and tests for: Current and non-current Liabilities, Share capital and reserves.

Finalising the Audit: The final review stage. Reviewing the truth and fairness of financial statements. The audit report and the potential effects of qualifications.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify and explain the different components of audit risks and understand their significance to planning the audit.
  2. Describe and evaluate accounting and internal control systems and identify and communicate control risks, potential consequences and recommendations.
  3. Explain the importance of audit evidence and apply this knowledge to material aspects of the financial statements.
  4. Examine the procedures undertaken at the review stage of the audit.
  5. Construct suitable audit reports based on mini-case study scenarios

ABSA413: Φορολογία Ι

Course Contents

Capital Gains Tax: Examine the scope of this tax. Prepare computations for the tax and recognise the administration of the tax.

Corporation tax: Construct computations involving basic aspects (such as taxable income, losses). Rental income assessments. Capital allowances.

Overview of tax system: Identify the structure of the tax system in Cyprus and compare it to the UK . Examine the roles of tax inspectors and tax collectors. Examine the issue of tax residency in Cyprus .

VAT: Evaluate the basic principles of VAT for individuals and companies. Registration and deregistration. Tax point theory. Computations of VAT.

Income tax and business tax: Assess the basic principles of income tax. Prepare income tax computations for individuals involving both basic principles and advanced aspects. Rental income assessments.

Tax planning: Applying tax planning solutions for individuals and companies concerning: corporation tax, income tax, husband   and wife cases, capital gains tax and VAT.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Interpret the results of tax computations for individuals and companies.
  2. Identify the tax system in Cyprus and compare it to the UK.
  3. Construct tax computations for individuals and companies.
  4. Examine computational and theoretical aspects of VAT.
  5. Evaluate case study scenarios on business tax and propose tax saving schemes

ABSA414: Φορολογία ΙΙ

Course Contents

Corporation tax: Construct computations involving advanced aspects. Group tax theory. Foreign tax aspects. Balancing allowances and charges.

Income tax and business tax: Assess the basic principles of income tax. Prepare income tax computations for individuals involving both basic principles and advanced aspects. Rental income assessments. Foreign tax aspects. Benefits in kind.

Capital Gains Tax: Examine the scope of this tax. Prepare computations for the tax and recognise the administration of the tax. Examine aspects of capital gains tax in the areas such as gifts, inheriting property, exchanging property etc. Produce solutions to minimising tax using available tax reliefs.

VAT: Evaluate the basic principles of VAT for individuals and companies. Registration and deregistration. Tax point theory. Computations of VAT. The calculation of the VAT Return bearing in mind various reliefs that may be claimed. VAT for groups.

Administration of tax: Apply the procedures concerning the administration of tax giving advice to clients in the form of letters, memos or reports. Provide tax advice concerning late payment of tax and potential interest and penalty payments for individuals and companies.

Social insurance: An introduction to Social Insurance and its computations concerning employees and employers.

Tax planning: Applying tax planning solutions for individuals and companies concerning: corporation tax, income tax, husband and wife cases, capital gains tax and VAT.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Interpret the results of advanced tax computations for individuals and companies.
  2. Identify the system of group relief in Cyprus and compare it to the UK.
  3. Construct advanced tax computations for individuals and companies.
  4. Examine computational and theoretical aspects of VAT and propose tax saving schemes..
  5. Evaluate case study scenarios on a multiple of taxes and propose tax saving schemes.

AFCS101: Επιχειρηματική Επικοινωνία Ι

Course Contents

In particular, the course covers the following:
·  development of student’s writing skills with emphasis given on writing
essays (argumentative essays -for and against, opinion)
formal letters (advice, complaint, application)
curriculum vitae
project writing,
·  development of students’ speaking and listening skills through class discussions, oral presentation of students’ work in class and other communicative drills,
·  extensive business writing including memoranda and agendas,
·  business terminology ,
·  vocabulary enrichment achieved with students’ active participation in discussions on topics of common interest and the comprehension of passages from various sources.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Understand the basic concepts of communication and the elements in the communication process.
  2. Improve personal capabilities in oral & written communication using a variety of communication means.
  3. Develop their writing and oral skills at a mature level, emphasizing the literary effects of language.
  4. Compose various forms of business writing and well-developed essays
  5. Apply acquired knowledge to write effectively for a variety of forms.
  6. Communicate confidently and effectively in spoken language in a wide range of situations.
  7. Use the vocabulary needed for advanced level communication.
  8. Develop the ability to read and view for information and respond critically to social, cultural and emotional values in texts.
  9. Analyse and evaluate advanced and authentic texts such as extracts, articles, and justify their opinion with accuracy and precision.
  10. Develop and establish opinions, synthesise texts and ideas, and express authentic thought with clarity.
  11. Identify and apply basic business terms essential in their academic and professional environment.

AFCS102: Επιχειρηματική Επικοινωνία ΙΙ

Course Contents

In particular the course covers the following:
–   Advanced argumentative essays with emphasis given on:
Outlining problems and offering solutions
Giving an opinion
Presenting both sides of an argument
–  Report writing (assessment, proposal & informative)
–  Note-taking
–  Summary writing
–  News articles and press releases
–  Effective oral presentation techniques
–  News letters
–  Business terminology essential for effective business communication
–  Vocabulary enrichment achieved with students’ active participation in class debates on topics of common interest and the comprehension of passages from various sources

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Show proficiency and fluency in the oral and written word
  2. Practise writing as a process of motivated inquiry, engaging other writers’ ideas through the use of quotations, paraphrase, allusions and summary
  3. Recognise how form and structure shape a text’s meaning and appreciate how genre generates expectations
  4. Deliver an effective oral presentation in an academic environment
  5. Interpret and summarise advanced reading texts
  6. Synthesize advanced written word and present it either orally or in writing in a logical and fluent manner
  7. Identify and apply the terminology used in the professional business world

AFIM101: Διαχείριση της Πληροφορίας

Course Contents

Introduction to information & knowledge management

Investigate what is information and knowledge.

Identify different types of knowledge-intensive organizations

Define some key characteristics of knowledge work and knowledge workers

Knowledge management & team-working

Discuss the importance of teams in knowledge creation and sharing

Explain related problems with knowledge boundaries

 

The role of social networks in knowledge creation and sharing

Discuss the importance of social networks (e.g. Facebook) in knowledge creation and sharing

 

Managing Knowledge for Innovation

Analyze the importance of ‘purposeful information’.

Examine the relationship between information and knowledge management to innovation

Information Depositories

Define and analyze the importance of databases as information depositories

  Knowledge Management IT Systems

Describe the types of systems used for enterprise-wide knowledge management and demonstrate how they provide value for organizations.

  Decision-making

Explain the decisions that managers have to make in relation to knowledge management and the IT systems that are supposed to support those.

  Information Security

Identify and analyze key risks and security issues in information management.

  The Limits of Knowledge Management

Explore the limitations of information management in relation to human expertise and artificial intelligence

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explain key concepts in information & knowledge management and its importance for different types of organizations
  2. Define and analyze knowledge management and sharing
  3. Identify different IT applications used as knowledge depositories and their importance in decision making processes
  4. Analyze and explore different risks and security issues related to knowledge management
  5. Assess the limitations of knowledge management

AFIN101: Χρηματοοικονομική Ι

Course Contents

Finance and the Financial Manager: Issues analyzed in the finance field, the different forms of business organizations and their advantages-disadvantages, main functions of financial manager, agency problems between the claimholders of the firm and proposed solutions.

The opportunity cost of capital and time value of money: Definition of the concept of the opportunity cost of capital and time value of money, compounding of interest and calculation of future values, discounting and the Net Present Value (NPV), the relation of opportunity cost with project risk, the rate of return rule and investment decisions in two-periods, the role of financial markets in allocating current and future consumption

Present value, simple and compound interest and applications: Future values for multi-period problems, the Net Present Value approach with multi-period problems, simple and compound interest calculations, present value short-cuts for special cases of present value calculations, present value analysis in the presence of inflation, real and nominal rates of interest, application of the present value approach for calculating the present value of a bank loan based on instalments paid, bank effective interest rate and its connection with the compounding of interest, introduction to bond valuation and bond terminology, the present value analysis applied to valuation of bonds.

Alternative methods for investment appraisal: The payback method for investment appraisal, the book rate of return and the internal rate of return method for investment appraisal, the properties of a proper investment appraisal method, identification of the situations where the payback, the book rate of return and the internal rate of return method may be invalidated, the problem of investment under budget constraints and solutions using profitability index and linear programming.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Describe the issues involved in the finance field, the types of organization of firms and the role of the financial manager
  2. Describe the issues involved in the finance field, the types of organization of firms and the role of the financial manager
  3. Solve problems involving mutually exclusive alternatives.
  4. Apply the present value approach to alternative business finance problems including bank loans and bond valuation.
  5. Discuss the differences between alternative methods for project appraisal (Internal Rate of Return and Payback) and describe their disadvantages compared to the Net Present Value approach
  6. Solve problems with current period budget constraints
  7. Formulate and solve problems with multi-period budget constraints with linear programming

AFIN102: Χρηματοοικονομική ΙΙ

Course Contents

Calculation of cash flows: Income and taxes calculation, cash flow statement, depreciation and working capital adjustments, book value of assets and taxes on sale of asset, and opportunity cost adjustments in cash flow statement

Applications of present value: Choice of assets with different economic lives using the equivalent annual cost approach, choice of optimal timing of investment in the present value context

Financial Analysis and Planning: Categories of financial performance ratios (leverage, liquidity, efficiency, profitability, market based),calculation of different ratios, DuPont analysis of profitability, financial planning using ratio analysis, sustainable growth and dividend discount model with growth

Risk and return: Expected return and risk of a portfolio and diversification benefits, the Capital Asset Pricing Model (CAPM) and beta risk, applications of CAPM for project evaluation using discounted present value

Financing and the cost of capital: Miller-Modigliani theory and the value of the levered firm with debt tax shields, the weighted average cost of capital, the value of equity and debt, the impact of debt increase/decrease on the required returns of equity holders, and the adjusted present value approach

Other issues in financing: International patterns in corporate financing, types of equity and debt, convertible and callable debt and their use as opposed to traditional debentures, rights issues versus new share issues

Working capital management: Issues involved in working capital management, inventory management using the Economic Order Quantity model, credit quality and terms of sale (duration, discount), the decision to prepay or delay credit payment, factoring approach for collecting receivables

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Calculate detailed cash flow statements for net present value analysis and apply present value analysis in various contexts
  2. Calculate financial ratios of firms and critically analyze a company’s leverage, liquidity, efficiency, profitability and market value of the firm
  3. Apply DuPont analysis for understanding the sources of differences between firms’ profitability
  4. Explain the use of Capital Asset Pricing Model for capital budgeting problems and the calculation of required investment returns
  5. Explain how the tax benefits of debt exist and describe theories of capital structure
  6. Calculate the present value of a firm using the weighted average cost of capital
  7. Relate firm valuation using weighted average cost of capital with valuation of the firm using the adjusted present value approach
  8. Enumerate the issues involved in working capital management and apply simple-practical models for inventory and credit management

AFIN203: Χρηματοοικονομική των Επιχειρήσεων Ι

Course Contents

Dividend policy: The dividend process, factors affecting dividend levels and changes, information in dividends and stock repurchases, and the dividend  controversy

Portfolio theory: Means, variances and correlations of assets based on historical returns or scenarios, portfolio expected returns and volatility, the concept of diversification, feasible investment set, minimum variance set and efficient set, investor preferences in mean-variance space, the capital allocation between risk-free rate and risky portfolios

Financing and the cost of capital Miller-Modigliani theory of the capital structure and the tax advantage of debt, the weighted average cost of capital (WACC) approach for firm valuation using CAPM, unlevered and levered betas, capital structure theories

Understanding and valuing options: Definitions of common options contracts and their use, payoff diagrams for common option contracts and combinations of options, put-call parity, call and put option contracts using Black-Scholes and binomial trees, sensitivity analysis to option values, application of option theory to corporate investment decisions (real options)

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Describe the alternative theories of dividend policy and show the dividend irrelevancy argument with numerical examples
  2. Calculate mean, variances and correlations between assets, portfolio expected returns and explain the concept of diversification
  3. Explain and show graphically the feasible set, minimum variance set, and efficient set and explain capital allocation between risk-free and risky assets
  4. Calculate the value of the firm with debt financing using the weighted average cost of capital and the CAPM model
  5. Describe the characteristics of options and derive payoff diagrams of options
  6. Calculate financial options value using Black and Scholes formula and using binomial trees
  7. Apply option theory to value corporate investment decisions under uncertainty

AFIN204: Χρηματοοικονομική των Επιχειρήσεων ΙΙ

Course Contents

Mergers and Acquisitions: economies of scale, economies of vertical integration and other efficiency gains arising from mergers and acquisitions, type of growth opportunities achieved through mergers and acquisitions, dubious reasons for mergers and acquisitions, valuation of merged businesses having different capital structures

Forwards and Futures: definitions, examples of using forwards and futures for hedging risk, valuation of forwards and futures on stocks or stock indices with/without dividends, forwards and futures on foreign currency, valuation of commodity futures, the cost-of-carry and convenience yield, differences between forward and future contracts

Option pricing theory: basic no arbitrage restrictions for options and put-call parity, dividends and optimal early exercise of American options, risk-neutral pricing and the derivation of binomial tree parameters for option pricing, binomial trees for pricing of options of various types

Risk management: risk management using options and futures, delta hedging and other Greeks, swaps and interest rate risk

Application of option pricing theory in the valuation of corporate assets and liabilities: Merton’s model for the valuation of equity and risky debt and credit spreads, sensitivity analysis on Merton’s model, extensions of Merton’s model with endogenous default

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explain sensible and dubious motives for mergers and acquisitions and apply valuation methods for mergers with different capital structures
  2. List the characteristics of forwards and futures, explain their use
  3. Explain the no arbitrage argument and the valuation of forwards and futures
  4. Explain risk-neutral valuation method for the pricing of options.
  5. Appraise different types of options using binomial trees and analytic methods
  6. Explain the importance of risk management and apply risk management tools based on option theory in practice
  7. Apply option pricing theory for the valuation of firms corporate assets and liabilities

AFIN305: Χρηματοοικονομικές Αγορές και Θεσμοί

Course Contents

Introduction to financial markets and institutions and the economic environment:

Identify the role of financial intermediaries. Examine the role of commercial banks as providers of funds. Examine international money and capital markets and outline their operations.

Outline basic characteristics of depository Institutions, securities firms and investment banks

Provide and overview of the risks of financial institutions

Explain the main macro-economic policy targets. Evaluate the role of fiscal and exchange rate policy.

Identify the main tools of monetary policy. Analyse the factors that influence inflation including interest rates. Evaluate the role of monetary policy

 

Introduction to interest rate uncertainty impact on financial institutions performance:

Understand the interest rate sensitive assets and liabilities of financial institutions and the risks involved

Use the reprising and maturity model in order to understand the impact of interest rates on the asset and liabilities of the financial institution

 

Duration and immunization strategies for financial institutions:

Explain the concept of duration

Calculate duration for different types of fixed income securities

Explain the features of duration as connected with maturity, yield and coupon interest

Use duration measures in order to apply immunization strategies that reduce the impact of interest rate uncertainty

 

The regulatory environment based on Basel , market and credit risk:

Outline the basic characteristics and requirements of Basel for the management of risk of financial institutions

Explain measurement methods for market risk

Explain Risk Metrics and the simulation approach

Explain Basel standardised approach for managing market risk

Explain the concept of credit risk based on the type of loans (commercial, industrial, real estate and other)

Explain some basic models for the calculation of default risk

 

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Provide an overview of the financial services industry and different type of financial institutions.
  2. Outline the economic environment and fiscal and monetary policy impact on the performance of financial institutions
  3. Describe the impact of interest rate uncertainty on the asset and liability management of financial institutions
  4. Calculate duration and convexity for option free bonds.
  5. Calculate the duration gap of a Bank and show the impact of a given interest change on the net worth of a Bank.
  6. Demonstrate interest rate hedging techniques via use of swaps, forwards and options.
  7. Describe the regulatory environment of Basel for risk management of financial institutions-explain market risk and credit risk management approaches and capital adequacy requirements

AFMA101: Μαθηματικά I

Course Contents

Different kinds of functions, their nature and related notation

Types of functions, (linear, quadratic, cubic, polynomial, rational, exponential, logarithmic). Inequalities in a plane Graphical representation.

  Concept of a matrix and identify various types of matrices.

The concept of a matrix, types and properties of various matrices. Transpose, inverse, symmetric, and identity matrix.  Square matrices, operations on matrices (addition, subtraction, multiplication, division).

 

Matrices for solving systems of linear equations

Determinant of a square matrix. Inverse of a square matrix. Matrix Representation of systems of linear equations with two and three unknowns. Finding solutions of systems of linear equations using the inverse matrix method and Cramer’s method.

 

Applications to  realistic situations

Ability to formulate an optimization problem for a particular production model. Solve the problem using the appropriate mathematical technique, evaluate the numerical findings and make suggestions for optimal operation.

 

Linear Programming problems using the graphical method

The concept of the straight line. Drawing of the line of a linear equation. x- Intercept, y-Intercept. Solve Linear programming problems using the Simplex method (minimization and maximization).

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Recall and recognise different kinds of functions, their nature and related notation.
  2. Describe the concept of a matrix and identify various types of matrices.
  3. Use matrices to solve systems of linear equations.
  4. Formulate models of realistic situations leading to systems of linear equations
  5. Solve Linear Programming problems using the graphical method.

AFMA102: Μαθηματικά II

Course Contents

Derivatives

Functions, limits, continuity. The concept of the derivative of a function. Derivatives of polynomial, logarithmic and rational functions.

Derivatives of the product and quotient. The chain rule.

Higher order derivatives (second, third etc)

Analysis of a function

Minimize and maximise a function using the second order derivative criterion.

Applications of derivatives in optimization problems with emphasis in business problems.

Functions of two or more variables.

Maxima-minima. Application in business problems (marginal cost, marginal revenue, marginal profit, exact cost, maximum profit and minimum cost).

The Lagrange multipliers method.

Exponential growth and decay problems

Exponential growth and decay problems with emphasis to business applications.

Anti-derivatives and the concept of the indefinite integral. Integration of simple functions.

Integrals

The concept of the definite integral. The fundamental theorem of calculus. Applications in business problems.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Understand the concept of the derivative of a function and calculate the derivatives of polynomial, logarithmic and rational functions.
  2. Apply differentiation for: sums, products, quotients, and the chain rule.
  3. Calculate and apply in real business problems the second and order derivatives (for minimization and maximisation).
  4. Apply derivatives in optimization problems with emphasis in business problems (marginal cost, marginal revenue, and marginal profit). Profit maximization and cost minimization.
  5. Calculate the partial derivatives of functions of two or more variables and to apply them for the calculation of the maxima and minima of optimization problems.
  6. Understand, apply and interpret the Lagrange multipliers method for constrained optimization.
  7. Understand the models of exponential growth and decay problems with emphasis to business applications
  8. Understand the concept of the indefinite and definite integral
  9. Formulate an optimization problem for a particular production model.

AFOT101: Εισαγωγή στην Οργανωσιακή Θεωρία Ι

Course Contents

The Nature of Management and Organizations

  • •  Types and main forms of business organizations and the reasons for their existence.
  • •  The various resources organizations have available for the delivery of goods and services
  • •  The roles, functions and skills of management.
  • •  Application of the management functions on different organizational settings

The Evolution of Management Theory

  • •  The schools of management though, since its early evolution.
  • •  The relevance of Classical, Behavioural, and Management Science theories to management practice
  • •  The Contingency and Systems approaches to managerial practice.
  • •  The factors necessitating organizations to become learning organizations.

Organizational Environment and Effectiveness

  • •  The major micro environmental and macro environmental factors impacting business operations
  • •  The impact of the environment on organizational and managerial decisions.
  • •  Techniques employed by organizations to respond to environmental impacts

Organisational Ownership and Types of Structures

  • •  Forms of business ownership
  • •  The structure of a proprietorship, partnership and Limited liability companies
  • •  Managing franchising and licensing
  • •  The characteristics of mergers, acquisitions and alliances
  • •  Special issues in Corporate ownership

The Ethical and Social Environment of Organisations

  • •  Ethics in an Organisational context
  • •  Managerial ethics and managing ethical behaviour
  • •  Emerging ethical organisational issues
  • •  Social responsibility and corporate social governance
  • •  The role of Government in social responsibility and the influence to organisations

Information Technology effects on Management

  • •  Managing Information and Information Technology
  • •  Information and the manager
  • •  Role of information in the manager’s job
  • •  Characteristics of useful information
  • •  Types of information systems
  • •  The internet

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Analyse the nature of organizations in general and the role of management in particular
  2. Investigate the evolution of management schools and the main approaches to managerial process.
  3. Identify the internal and external environmental factors which affect general business practices and managerial decisions
  4. Identify and discuss the forms of business ownership, their characteristics and advantages and disadvantages
  5. Discuss what it means to practice good business ethics and highlight the factors that influence ethical behaviour.
  6. Investigate the impact of technology in managerial functions and the emergent issues pertaining with the evolution of the Internet.

AFOT102: Εισαγωγή στην Οργανωσιακή Θεωρία ΙΙ

Course Contents

Stress and Individual Behaviour

Causes and consequences of stress

Managing stress

  Managing Organizational Change

Forces for change – Planned vs Reactive Change

Managing change in organizations

  Business Decision Making

Major issues and concepts in Business Decision Making

Types of decisions – Decision making conditions

  Perspectives in Decision Making

Rational Perspectives on Decision making

Behavioural Aspects of Decision Making

Models and Forces in Decision Making

The administrative model

Political forces in decision making – Intuition and escalation of commitment

  Risk Ethics Group Decision Making

Risk propensity and decision making – Ethics and decision making

Group and Team Decision Making in Organizations

  Managing Leadership and Influence Processes

The nature of leadership

Leadership and management – Leadership and power

Generic approaches to leadership

Situational approaches to leadership

Emerging approaches to leadership

  Organizational Strategies

The nature of strategic management

Strategy formulation and implementation

Porter’s generic strategies

Strategies based on the product life cycle

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explain stress and individual behaviour and its effects in the management process.
  2. Illustrate the way organizational change can be managed.
  3. Critically evaluate the process of decision-making as a function of management within organisations.
  4. Identify the various functional fields of management integrated within a strategic framework.
  5. Demonstrate the process of decision making, as well as the strategic management nature and process.
  6. Apply the different methods available for effectively driving decision making for achieving organisational effectiveness.
  7. Demonstrate the importance of leadership and influence processes.
  8. Evaluate the need for social responsibility and bring ethics into the business realm.

AFPR449: SENIOR PROJECT I

Course Contents

The students will perform the following tasks:

– identify research questions

– propose research methodology

-analyse literature

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify research topics of theoretical and conceptual relevance to his or her field of study
  2. Formulate specific research questions and /or hypotheses within the above context
  3. Identify scientific methods relevant to the chosen research field
  4. Propose a specific methodology relevant to the selected research questions
  5. Identify academic sources pertaining to the selected research area
  6. Review relevant literature
  7. Draft a literature survey
  8. Complete a 5000 word draft document containing the above material

AFPR450: SENIOR PROJECT II

Course Contents

The students will perform the following tasks:

  • –  collect data relevant to the research questions
  • –  process and analyse the data
  • –  identify results
  • –  discuss these results
  • –  interpret these results within the context of existing literature
  • –  draw conclusions

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Demonstrate the ability to collect data relevant to a specific research question
  2. Analyse the data while following a specific methodology
  3. Identify and explain results that can be derived from the above process
  4. Discuss the research results in the light of the existing relevant literature
  5. Prepare a relevant introduction and conclusion to the research project
  6. Complete the existing 5000 word draft document to reach a final document of 12,000 words
  7. Acquire skills in various domains including: writing, editing, conceptualizing, methodology, work organisation, time management, scientific rigor, academic honesty, ethics, critical thinking and creativity.

AFRM201: Μεθοδολογία της Έρευνας I

Course Contents

Nature of Business Research

Clarify the research topic
Attributes of a good research topic

Rational and creating thinking

Refining and turning research ideas into research projects

  Critically Reviewing the Literature

Purpose content and structure of critical review

Literature sources available

Planning obtaining evaluating and recording the literature

  Research Strategy – Negotiating Access – Ethics

Different research strategies

Ethics of research design

Problems and strategies to gain access

Allow sufficient time, use contacts, provide the type of access required

Overcome concerns, benefits to the organization

  Data Collection using Interviews and Questionnaires

Types of interviews

Situations favouring qualitative research interviews

Way to conduct interviews

When to use questionnaires, different types and choices

Deciding what data to be collected

Designing the questionnaire

Pilot testing and assessing validity

  Analysing Qualitative Data

Categorization and Unitization

Recognizing relationships and developing categories

Developing and testing hypotheses to reach conclusions

  Ethical Issues

Ethics in data collection

Ethics related to the analysis and reporting stages

  Writing the Project

Getting started with writing

Structuring your project

Developing an appropriate writing style

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify and understand the need for and methods to search for, extract, and synthesize information in a particular subject and topic area.
  2. Evaluate and obtain information from a variety of sources.
  3. Appraise information sources on the basis of quality and reliability.
  4. Collect and analyze data using qualitative methods.
  5. Demonstrate how different research strategies can help structure the research project.
  6. Orally present the research project.

AFRM202: Μεθοδολογία της Έρευνας II

Course Contents

1.      Introduction: Research process: Steps we follow to do research.

2.   Structure of a research report. Writing using appropriate layout, style,organization, structure and referencing a research project to academicstandards. Synthesize information in a focused way in order to develop andsupport arguments through a project in which students will apply themethodological concepts obtained in lectures

3. Understanding different methodological approaches. Main researchstrategies and elements of a research design. An introduction to various methodused for research. Structure of a questionnaire.

4.  Quantitative research: Analysis and organization of data. Analysis oftwo variables and the relationship between them. Examples using real data inlab, along with using appropriate software packages such as SPSS, Excel, Stataand other.

5.    Statistical methods: Regression analysis (least squares method) forquantitative data. Introduction to Simple Regression (between two variables).Analysis and explanation of the results.

6.      Multiple regressions: analysis between more than two variables,interpretation of the results.

7.     Extensions of multiple regressions using dummy variables, logarithms andquadratics. Hypothesis testing using basic statistical tools on thesignificance of the results.

8.   Application of all the above regression analysis tools using actual dataand the appropriate software in a project.

9.      Orally present part of the research project

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Comprehend the nature and usefulness of research
  2. Write the research report: Structure of the research report
  3. Understand different methodologies for quantitative data
  4. Collect and analyze quantitative data (actual data obtained online from various organizations and use of questionnaires)
  5. Use of software packages for data processing
  6. Describe data using basic statistics and graphs (mean-variance-quartiles etc)
  7. Analyze and explain data results using basic estimation techniques (Regression analysis-Least squares method)
  8. Apply all the above during both the mid-term and final presentation and subsequent preparation of the research project submitted

AMAT112: Στατιστική I

Course Contents

Tabular and graphical methods

Statistics in practice. Kinds of data (discrete and continuous, ordinal and nominal). Different kinds of variables. Frequency tables, cumulative distribution tables and graphs (histograms, bar charts, pie charts). Shape of various data distributions (skewed, and symmetric).

Descriptive statistics: Numerical methods

Summarizing quantitative data. Measures of location (mean, mode, and median) and measures of dispersion (variance, standard deviation, range) for group data and raw data. Difference between measures of location and measures of dispersion and their significance. Extreme values, outliers and their importance.

Introduction to Probability

The idea of probability. Experiments, events, outcomes and sample space. Relative frequencies. Calculation of probabilities and basic relationships of probability (union of events, complement of event, intersection of events). Mutually excusive, mutually exhaustive and independent events. Conditional probability and multiplication law.

Discrete Probability Distributions

Probability distribution tables. Theory and their applications in Business problems concerning the discrete probability distributions: Binomial, Poisson. Expected values and variance.

Continuous Probability Distributions

Theory and their applications in Business problems concerning the continuous probability distributions: Normal distribution. Standard normal distribution and table of the standard normal distribution. Applications in Business problems. Discrete versus Continuous distributions.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Recognise and identify the kinds of data (discrete and continuous, ordinal and nominal). Construct, present and interpret frequency tables, cumulative distributions and graphs (histograms, bar charts, pie charts). Understand and explain the shape of various distributions (skewed, and symmetric).
  2. Summarizing, calculate and interpret the measures of location (mean, mode, and median) and measures of dispersion (variance, standard deviation, range). Identify extreme values and outliers and explain their significance in business applications.
  3. Describe and explain the idea of probability, experiments, events, outcomes and sample space and construct the sample space given an experiment.
  4. Calculate probabilities and basic relationships of probability (union of events, complement of event, intersection of events, conditional probability).
  5. Distinct the difference between mutually exclusive, mutually exhaustive and independent events. Apply these in business problems.
  6. Recognize and construct and explain probability distribution tables.
  7. Recognize, use, apply and explain the theory and their applications in Business problems concerning the probability distributions (Binomial, Poisson, Normal distribution). Use the tables of the standard normal distribution for solving problems and interpret correctly the answers.

AMAT210: Στατιστική II

Course Contents

Sampling and sampling distributions

The various kinds of sampling techniques (simple, stratified, clustering). Sampling from finite and infinite population. Sampling distribution of the mean.

Interval estimation

Recall of the normal distribution. Point estimation of the population mean. Interval estimation of the population mean for large sample with s known and s unknown. The t-distribution and the table of t-distribution. Interval estimations of the population mean for small sample with s known or s unknown. Interval estimation of the population proportion. Determining the sample size for estimating mean or proportion.

Hypothesis testing

Hypothesis testing. Null and alternative hypothesis. Significant level. Types or errors (type I and II).

Tests of goodness of fit and independence

Chi-square distribution and its table. Chi square goodness of fit test. Contingency tables and the chi square test of association. “Statistical significance”.

Correlation

Independent and dependent variables. Pearson’s coefficient and the values of it

Simple linear regression

Independent and dependent variable. Scatter diagram. Coefficients (b0 and b1) of the simple linear regression model. Regression, using data from the business environment. Forecasting.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Understand and implement the sampling distribution of the mean.
  2. Use the t-distribution and read the table of t-distribution.
  3. Understand, calculate and interpret interval estimation of the population mean for either small or large sample with σ known or unknown
  4. Determine interval estimation of the population proportion and ddetermining the sample size
  5. Understand the concept of hypothesis testing and be in a position to state the null and alternative hypothesis. Also understand the meaning of the significant level and recognise the two types or errors (type I and II).
  6. Distinguish the difference between independent and dependent variable and construct the scatter diagram. Calculate and interpret the Pearson’s coefficient, and, estimate and interpret the coefficients (b0 and b1) of the simple linear regression model.
  7. Apply regression, using data from the business environment and do forecasting.
  8. Recognize the chi-square distribution and make use of its table.
  9. Implement the two chi square tests, goodness of fit test and test of independence, with real data and interpret the results. Explain the meaning of the “statistical significance”.

ABSA310: Διεθνής Λογιστική

Course Contents

Multinational dimensions of accounting: Analyse the factor concerning the development of national accounting systems. Examine the characteristics of multinational accounting against national frameworks. Evaluate the influence of culture in accounting. Analyse important recent trends in the development of international accounting. 

Conceptual development: Identify the international accounting framework and critically evaluate the philosophy to countries that have their own framework such as the USA and UK . 

Variation trends in International Accounting: Critically evaluate the USA accounting system and compare to the UK system, Continental Europe and the Far East . Examine and analyse the Cyprus accounting system and compare against other systems. Critically evaluate current developments in accounting practice in Cyprus .

Harmonisation of accounting practice: Identify the term accounting harmonisation. Examine the pressures for accounting harmonisation. Analyse the benefits and drawbacks of accounting harmonisation. Critically examine the current situation concerning harmonisation and analyse the efforts for harmonisation. Contrast the differences between international accounting standards and US GAAP.

Specific reporting issues: Critically evaluate the accounting practice between significant countries and international standards concerning: Inflation accounting, asset revaluations, foreign currency translations. Critically evaluate the accounting practice between significant countries and international standards concerning: goodwill, intangibles, financial instruments, consolidations and segmental reporting.

Transnational Financial Reporting & Disclosure: Examine recent proposals by international accounting standard setters concerning changes in financial reporting and disclosures. Applying the knowledge learnt to solve case study scenarios requiring a restatement of financial statements using two different accounting regimes.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Examine and critically appraise the treatments of key technical accounting issues used by various accounting standards bodies including the IASB and FASB.
  2. Appraise the major issues connected with the harmonisation of accounting practice internationally.
  3. Interpret the information contained in consolidated financial statements from various countries by demonstrating a thorough understanding of the principles, formats and methods used to prepare the published information, and implications of the choices made.
  4. Discuss the multinational dimensions of accounting and conceptual development.
  5. Evaluate current developments in international accounting in the context of their practical application, implications for corporate reporting and the underlying conceptual issues. Appraise the influences that affect the accounting practice in various countries.

ABSA405: Προχωρημένη Διοικητική Λογιστική Ι

Course Contents

Costing techniques: The theory and practice behind specific order costing techniques including job costing. Evaluate the theory and practice of continuous costing. Application of the equivalent units approach to process costing.

Cost behaviour and learning curve theory: The theory and practice of cost behaviour. Examine the learning curve theory and evaluate its effect on profitability.

Performance measurement: Examine the performance hierarchy. Analyse the scope of performance measurement. Evaluate performance measurement indicators both financial and non-financial. Evaluate the effect of external considerations on performance. Non-financial measures. Analyse the management impact on performance measurement. Design and interpret performance evaluation systems.

Standard Costing and Variance Analysis: Critically analyse the theory and practice of standard costing and its relevance to controlling performance. Traditional, mix variance and planning variances. Operating statements reconciling budgeted profit to actual profit.

Budgetary control: Examining and appraising alternative systems of budgeting systems such as zero rated budgeting. Examining research on the behavioural aspects of budgeting. Current developments in budgeting.

Budgets: The master budget and its preparation. Advanced budgeting and advanced variance analysis techniques.

Transfer pricing: Concept of transfer pricing. The economic approach to transfer pricing. Transfer pricing and its link to performance.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Employ the specific order and continuous costing techniques to decision-making and stock valuation.
  2. Identify and employ appropriate budgeting and variance analysis techniques to enable management to control the business.
  3. Evaluate the strategic performance of a business and select appropriate financial and non-financial performance measures.
  4. Explain the different approaches to transfer pricing and apply them to mini-case scenarios.
  5. Design performance evaluation systems from mini-case study scenarios and, interpret the results.

ABSA406: Προχωρημένη Διοικητική Λογιστική ΙΙ

Course Contents

Strategic Management Accounting: Corporate strategy as opposed to operational strategy. Life cycle issues in management accounting. The benchmarking technique. Risk and uncertainty techniques in management accounting. Strategic management accounting techniques.

Developments in management accounting: Current issues in management accounting such as material requirement planning, balance scorecards and balanced scorecards and their relevance and application.

Short-term decisions: Relevant and irrelevant costs. Cost volume profit analysis and decision-making. Opportunity costs in decision-making. Make or buy decisions. Marginal costing techniques including changes in product mix, discontinuance of products and further processing decisions.

Management Information: Sources of information within and outside the firm. Information technology and management information. Accounting information for strategic planning, management control, operational control and decision-making. Relationship between information requirements and management structure.

Activity based budgeting: Purpose and approaches of activity based budgeting. Activity based budgeting techniques. Quantitative aids in budgeting. Current developments in budgeting.

Pricing decisions: The economic model in pricing decisions. Costing techniques for pricing decisions. Advanced costing techniques for pricing such as target pricing and price based approaches.

Limiting factors: Limiting factors in decision making. Techniques used in solving one limiting factor in decisions and multi-limiting factors in decisions such as linear programming techniques.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Assess the objectives of preparing management information and the need to adapt techniques in a changing commercial environment.
  2. Use costing techniques to evaluate management decisions in relation to costing, pricing, limiting factors, product range and marketing strategy.
  3. Examine the features of activity-based approaches and be able to apply them to mini-case studies.
  4. Identify and discuss recently adopted management accounting techniques and explain how these techniques may be evaluated.
  5. Appraise the strategic aspects of management accounting.

ABSA409: Προηγμένη Ελεγκτική Θεωρία και Πρακτική Ι

Course Contents

The context of auditing: Audit and assurance assignments. The concept of ‘true and fair’ and its effect on the audit. The theory of the “expectation gap” and how it may be narrowed. Materiality and the audit. Internal audit and the external audit.

Professional responsibility and liability: The auditor’s duties and responsibilities concerning the statutory audit. The law concerning the removal, appointment and resignation of auditors. Rules of professional ethics. Relationship of corporate governance to the audit.

Practice management: Procedures to be followed concerning the acceptance of a new client. Contents of an engagement letter and examine its importance. Quality control and the audit. Reviews of the audit.

The audit process and business risk: Audit risk and business risk in the audit process. Top down and bottom up testing. Analytical review and its application to the audit.

Review of financial statements and audit reports: Explain and understand the role of the review of the financial statements to the audit process.  Tasks to be carried out in the review. Different types of audit reports that may be issued. Analyse the contents of an audit report. Small and medium sized companies and the audit.

Application of accounting standards to auditing practice – an introduction: Analyse and apply the accounting standards in the areas of: provisions, contingencies, and impairment of assets, non-current assets, investments and stocks amongst others.

Group audits: Characteristics of a group audit. Relationship between the primary and secondary auditor.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Demonstrate the ability to understand the professional and ethical framework in which auditors work in.
  2. Appraise the role of the internal audit in providing assurance on risk management and on the control framework of an organisation.
  3. Evaluate and recommend quality control policies and procedures.
  4. Identify and describe the work required to meet the objectives of a group audit.
  5. Apply the requirements of international accounting standards and international financial reporting standards to auditing practice

ABSA412: Προηγμένη Ελεγκτική Θεωρία και Πρακτική ΙΙ

Course Contents

The application of advanced aspects of audit and business risk: Review the audit strategy and evaluating different approaches such as audit risk and business risk approaches. Evaluate systems audits and balance sheet audits. The audit process and business risk.

Audit evidence and its application to the audit: Applying the financial accounting assertions when trying to obtain audit evidence for: documentation, related parties, management representations and using the work of other parties.

Audit related and assurance services: Analyse the difference between audit and assurance assignments. Analyse the characteristics of assurance assignments such as reviews, agreed upon procedures, compilations. The role of the reporting accountant in evaluating prospective financial information. E-commerce and the audit. Examine the procedures carried out in systems reliability reports.

Application of accounting standards to auditing practice: Analyse and apply the accounting standards in the areas of: financial instruments, segmental information, provisions, contingencies, impairment of assets, pension provisions and related parties amongst others.

Outsourcing the internal audit. Evaluate the benefits and drawbacks of outsourcing the internal audit.

Social and environmental audits: Examine the auditor’s role in social and environment audits. Evaluate the accounting practice in environmental issues to the audit opinion.

Advanced aspects concerning the audit report: Evaluating the formats of different types of reports that may be issued for assurance engagements. Critically appraise their effectiveness.

Current issues and developments in auditing: Critically evaluate current developments in auditing and their likely effect on the audit if implemented.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Interpret the financial statements of a firm (given in a mini-case study scenario) and how this is related to the audit and business risk.
  2. Identify and describe the work required to meet the objectives of non-audit assignments.2. Identify and describe the work required to meet the objectives of non-audit assignments.
  3. Construct suitable audit reports that involve advanced aspects of accounting based on mini-case study scenarios
  4. Examine the advanced aspects of international accounting standards & international financial reporting standards and apply them to mini-case study scenarios.
  5. Appraise current issues and developments in the auditing profession

ABSE203: Μικροοικονομική Ανάλυση

Course Contents

Producer Decision Making

Economic analysis of costs and profit

Long run vs. short run decisions

Quantifying costs and revenues

Profit maximization/loss minimization decision. Graphical and functional analysis

 

Analysis of perfectly competitive markets

Assessment of the determinants of industry’s structure

Graphical and functional analysis of price-taking behaviour

Critical analysis of performance of the perfectly competitive markets

 

Decision making of the pure monopoly

Identification and analysis of sources of market imperfection; natural vs. institutional monopoly

Structural conditions for the pure monopoly

Profit maximization under the pure monopoly and performance of the pure monopoly

Comparative analysis of perfect competition and pure monopoly

Key concepts of price discrimination

 

Market power and market rivalry

Examination of monopolistic competition: structure, conduct, performance

Appraisal of basic types of oligopoly and pricing

Critical assessment of oligopoly; the Austrian approach to the analysis of the big firm

 

Factor markets

Determinants of profit maximization in the production factor markets

The labor market and wage differentials; key concepts of discrimination

Capital and interest

The land market variables

 

General market equilibrium and microeconomic policy

Partial vs. general market equilibrium

Definition and classification of microeconomic policies

Empirical evidence on the effectiveness of microeconomic policies

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the goals of the firm and basic determinants of producer decision-making.
  2. Examine the dynamics and structure of short run and long run costs
  3. Analyze the determinants of industrial organization
  4. Compare and contrast firm’s conduct and performance under different market structures.
  5. Evaluate the determinants of factor income.
  6. Interpret empirical evidence and critically assess the effectiveness of microeconomic policies.

ABSE204: Μακροοικονομική Ανάλυση

Course Contents

Money and the functions of money:

The nature of money; the evolution of money; the forms of money; the functions of money. Liquidity and money aggregates; a basic understanding of money supply

The demand for money:

Definition. Motives for money demand: transactionary motive, precautionary motive, speculative motive (liquidity preference). The real vs. the nominal interest rate. The money demand curve. Factors, affecting money demand.

Banking and the supply of money:

Modern frictional-reserve banking. The process of deposit creation and the deposit multiplier. The balance sheet of the commercial bank.

Central Banking and monetary policy:

The role of the central bank. The balance sheet of the central bank. Monetary policy: goals and instruments. Open market operations; discount rate policy; the minimum reserves requirement. Effectiveness of the instruments. Monetary policy in the AD-AS framework. Monetary effects in the long run. From aggregate demand to aggregate supply.

The foundations of aggregate supply:

Short run vs. long run in macroeconomics. Deriving the short run aggregate supply curve. The segments of the SRAS curve. Determinants of aggregate supply in the short run. The long run aggregate supply curve – slope and determinants.

Inflation and unemployment:

Unemployment: nature, forms and measurement. Inflation – sources, forms and measurement. The trade-off of inflation and unemployment – the Phillips’ curve. The short run Phillips’ curve and the SRAS curve. The long run Phillips’ curve and the LRAS curve. The natural rate of unemployment and the potential GDP again.

Economic growth:

Definition. Conditions, factors and measurement of economic growth. Theories of growth. Models of growth and approaches to economic development. Alternative models of growth in developing countries.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Understand the nature of money and its functions
  2. Distinguish money aggregates and understand factors, determining money supply. Analyze factors, affecting money demand and the equilibrium in the money market
  3. Indicate the tools used by the Central Bank to influence the money supply and interest rates
  4. Construct the aggregate supply curve and compare and contrast short run and long run macroeconomic equilibrium
  5. Distinguish sources and factors of economic growth and analyze indicators of economic growth.

ABSL310: Δίκαιο των Επιχειρήσεων ΙΙ

Course Contents

The Law of Contracts: Review of the elements that are required for a legally binding contract. Meaning and effect of breach of contract (measure of damages, remoteness of damage & equitable remedies). Effect and application of exclusion clauses. Analysis of Sale of Goods Act.

The Law of Negligence: Analysis of the notion of duty of care and breach of that duty, as well as remoteness of damage caused due to negligence. Defenses to an action of Negligence.

The Law of Agency: Distinctive features of commercial agency (actual and apparent authority), creation of agency relationship (express, implication, ratification, estoppel etc). Agent’s duties and Liability.

Company law and Partnership Law: Structure, formation and management. Incorporation of a company, analysis of the constitutional documents of a company (Memorandum and Articles of Association). Analysis of issues such as Ultra Vires and pre-incorporation contracts. Directors’ role and duties (namely fiduciary duties). Meetings and resolutions of the company. Different types of partners and partnerships.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Acquire knowledge of the foundations of business law and how these operate within context of business.
  2. Define and analyze of contractual liability of parties, factors/clauses that affect the validity of contract (rules in relation to exclusion clauses) and advise in terms of damages (remoteness of damage, measure of damages, equitable remedies).
  3. Analyze the main elements of negligence, notions such as duty of care, breach and damage and advise in terms of defences to an action of negligence.
  4. Identify the distinctive features of commercial agency (concepts such as ratification, agency by holding out/estoppel). Understand the structure and differences between various entities (companies and partnerships) and compare in terms of liability, management and formation.
  5. Assess business issues that may arise such as ultra vires transactions and pre-incorporation contracts and advise whether they invalidate business transactions. Analyse the role of directors and their duties towards the company. Distinguish the types of company meetings and resolutions.
  6. Analyze the legal liability of parties in business transactions and to demonstrate the capacity for legal analysis, research and problem solving skills within the context of Business Law.
  7. Develop a critical understanding of the law so as to be able to apply the legal principles (and case law) to various practical situations and to produce written advice.

ABSO201: Διαχείριση Επιχειρήσεων Ι

Course Contents

I. The fundamentals of Business and Economics

Definitions of business and important micro- and macro-economic concepts such as demand versus supply, competition, monetary and fiscal policies, inflation, and economic indicators.

II. Ethics and Corporate Social Responsibility

Business ethics and corporate social responsibility and the multitude of factors that influence both.

Businesses’ efforts to increase social responsibility, including their responsibility toward society, the environment, consumers, investors and employees.

Address issues related to business ethics and responsibility around the world.

III. Competing in the Global Economy

Theories and practices of international businesses and how they are affected by economic, social, cultural, political and legal differences among nations.

Introduce major regional trading blocs and worldwide trading organizations and discuss the five main forms of international business.

IV. Business Structures

Examine the three most common forms of business ownership, namely sole proprietorship, partnership and corporation, as well as newer hybrid forms of business ownership such as Limited Liability Companies (LLCs).

Discuss the increasingly business phenomena of mergers, acquisitions and alliances

V. Small Business and Entrepreneurship

Define a small business (other than size alone) and identify the key factors that contribute to its increase in number.

Discuss common characteristics of successful entrepreneurs and provide various resources for would-be entrepreneurs, including how to write a business plan and where to obtain financing.

VI. Marketing Concepts and Strategies

Define marketing, and discuss how firms use market research to learn more about their customers’ needs and wants.

Outline the major steps in the strategic marketing planning process and highlight the various market segmentation techniques.

Identify the four elements of a firm’s marketing mix.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Acquire theoretical knowledge and practical skills of the business organization realm
  2. Analyze the nature of organizations in general and business in particular
  3. Identify and discuss the forms of business ownership, their advantages and disadvantages
  4. Discuss what it means to practice good business ethics and highlight three factors that influence ethical behaviour. Ability to make an ethical decision
  5. Identify the internal and external environmental factors which affect general business practices and managerial decisions

ABSO202: Διαχείριση Επιχειρήσεων ΙΙ

Course Contents

I. A strategic approach to organizational behaviour

Basic elements of strategic OB
The role of human capital in creating competitive advantage
Positive OB
High-Involvement management

II. Organizational Diversity

Diversity defined – Forces of change
Diversity management and high-involvement organisations
Roadblocks to diversity -Creating and managing diversity

III. Organizational Behaviour in a Global Context

Forces of globalisation
The globalisation experience for associates and managers
Opportunities for international participation
High-involvement management in the international context
Ethics in the international context

IV. Work Motivation

The strategic importance of work motivation
Content theories of motivation
Process theories of motivation
Motivating associates: an integration of motivation theories

V. Conflict, Negotiation, Power and Politics

The nature of conflict
Causes of conflict – Conflict escalation and outcome
Negotiation – Power
Organisational politics

VI. Organizational Change and Development

Pressures for organisational change – Planned Change

Organizational Development

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the links between behavioural management and organisational performance
  2. Explain the relevance of managing people and integrate these concepts with knowledge gained in other core business course
  3. Appreciate why human capital is one of the most important asset to an organisation
  4. Analyse how organisations can build culture, communication and leadership to improve performance
  5. Explain using empirical example how to effectively manage behaviour in organisations

ABSO204: Διαχείριση Ανθρώπινων Πόρων

Course Contents

Human Resource Management

Human Resource Management

Why HRM is important to all managers

Managers involved with HRM

Changing environment and Duties of HRM

HR Strategic Challenges

HR and Competitive Advantage

Strategic HRM

  Staffing

Personnel Planning and Recruitment

Job Analysis

Writing job descriptions

Writing job specifications

  Recruitment and Selection

Recruitment and Selection Process

Workforce (Personnel) Planning and Forecasting

Developing and using application forms

The Basics of testing and selecting employees

Using Tests at Work

Testing on the web

Interviewing Perspective Employees

Types of selection interviews

How useful interviews are

Using other selection techniques

  Training

Training and Developing Employees

Training Process

Training Techniques

Evaluating the Training and Development Effort

  Appraisal

Performance Management and Appraisal

Basic Appraisal Methods

The Appraisal Feedback Interview

  Compensation

Monetary Compensation

How employers establish pay rates

Current Trends in Compensation

Incentive plans

Employee Incentive

  Labour Unions – Employee Safety and Health

Labor Unions and Collective Bargaining

Impasses, mediation and strikes

Protecting Safety and Health

What causes accidents at work?

How to prevent accidents

Employee health: problems and remedies

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Demonstrate the necessary knowledge and understanding on the modern activities concerning the management of people.
  2. Identify and describe the Human Resource functions such as recruitment, selection, compensation, development, performance and appraisal.
  3. Apply the different methods available for effectively recruiting, selecting, compensating, developing, as well as appraising employees.
  4. Evaluate the impact of emerging trends in the practice of major Human Resource Management functions and activities.
  5. Demonstrate the basic elements of unionisation and the process of collective bargaining.

ABSO307: Επιχειρηματική Πολιτική και Στρατηγική Διοίκηση

Course Contents

Chapter One – Basic Concepts: Phases of strategic management. Benefits of strategic management. Globalization and environmental sustainability as challenges to strategic management. Theories of organizational adaptation. The learning organization. Basic model of strategic management. Triggering events initiating strategy. Mintzberg’s modes of strategic decision making. Strategic decision making process. The strategic audit.

Chapter Two – Corporate Governance: Responsibilities of the board of directors and its role in strategic management. Composition of the board of directors. Agency theory versus stewardship theory. Codetermination and interlocking directorates. Executive leadership and the importance of strategic vision.

Chapter Three – Ethics and Social Responsibility: Positions for and against social responsibility. Importance of corporate stakeholders and stakeholder analysis

Chapter Four – Environmental Scanning and Industry Analysis:  Environmental scanning. Identifying external strategic factors.Industry analysis, including industry evolution, strategic groups, and hypercompetition. Forecasting techniques, including industry scenarios.

Chapter Five – Internal Scanning: Organizational Analysis: Core and distinctive competencies and VRIO framework. Business models. Industry and corporate value-chain analysis. Basic concepts in organizational structure and culture.

Chapter Six – Strategy Formulation: Situation Analysis and Business Strategy: Identifying a corporation’s strategic factors using the SFAS Matrix.Using the TOWS Matrix to generate potential strategic alternatives. Using the competitive strategies of lower cost and differentiation. Competitive strategy, industry structure, and hypercompetition. The use of offensive and defensive competitive tactics. Using the cooperative strategies of collusion and strategic alliances.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Understand the benefits of strategic management.
  2. Use the strategic audit as a method of analysing corporate functions and activities.
  3. Describe the role and responsibilities of the board of directors in corporate governance.
  4. Understand how the composition of the board can affect its operation.
  5. Conduct a stakeholder analysis.
  6. Use tools for analysing a company environment (SWOT analysis).
  7. Conduct an industry analysis to understand competitive forces that influence the intensity of rivalry within an industry.
  8. Generate strategic options by using TOWS matrix.
  9. Understand the competitive and collaborative strategies available to corporations.

ABSO423: Διεθνείς Επιχειρήσεις

Course Contents

Chapter 1 – Globalization and international business:

The forces driving globalization.

Why companies engage in international business.

Modes of operations in international business.

 

Chapter 2 – The cultural environments facing business:

Behavioural practices affecting business.

Dealing with cultural differences.

 

Chapter 3 – The political and legal environments facing business:    

Should political risk management be an active strategy?

 

Chapter 4 – The economic environments facing business:

Elements of the economic environment. Features of an economy.

Integrating economic analysis.

 

Chapter 6 – International trade and factor mobility theory:

Free trade theories. The statics dynamics of trade.

Factor mobility theory.

 

Chapter 7 – Governmental influence on trade:                       

Conflicting results of trade policies.

Economic and non-economic rationales of trade intervention.

 

Chapter 8 – Cross-national cooperation and agreements:

WTO, EU. Cyprus entry to the EU.

 

Chapter 9 – Global foreign exchange markets:

How companies use foreign exchange. Major foreign exchange markets.

 

Chapter 10 – The determination of exchange rates:                         

IMF, Exchange rates arrangements. Determining and forecasting exchange rates. Business implications of exchange rate changes.

 

Chapter 11 – The strategy of international business:                                                                     

Industry, strategy and firm performance. Global integration versus local responsiveness. Types of strategy.

 

Chapter 12 – Country evaluation and selection:      

How does scanning work? What information is important in scanning?

Collecting and analysing data. Country comparison tools. Allocating among locations.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Define globalization and international business and show how they affect each other.
  2. Explain why companies engage in international business and identify various entry modes to foreign markets.
  3. Analyse major causes of cultural difference and change.
  4. Discuss cultural guidelines for companies that operate internationally.
  5. Understand how political and legal systems affect the conduct of business.
  6. Explain the idea of political risk and describe approaches to managing it.
  7. Compare and contrast economic indicators.
  8. Discuss theories of international trade and rationales of governmental policies.
  9. Compare and contrast different regional trading groups including but not exclusively EU.
  10. Explain the fundamentals of foreign exchange.

ABSE101: Εισαγωγή στη Μικροοικονομική

Course Contents

Introduction to Economics

Economic agents and economic problems. Inputs and outputs. The production possibility frontier.

The law of increasing marginal opportunity cost.

Economic Systems

The role of the market in the solution of the three economic problems. Resource allocation and the rational for government intervention. Market Outcomes and Market Failures vs. Government Failures

Market Fundamentals

The demand for goods. The demand schedule and the demand curve. Factors, determining demand. Shifts in demand.

The supply of goods. The supply schedule and the supply curve. Factors, determining supply. Shifts in supply.

The market equilibrium. Effects of a shift in supply or demand.

Quantifying Market Responses: Elasticity.

Price elasticity of demand. Elasticity and revenue.  Income elasticity of demand. Cross-price elasticity of demand. Price elasticity of supply.

Applications of Supply and Demand and Price Elasticity

The economics of agriculture. The impact of a tax on price and quantity. Price controls. Price floors and price ceilings.

Demand and Consumer Behaviour

Choice and utility. Consumer equilibrium. The dynamics of consumer equilibrium: income effect and substitution effect. Deriving   the demand curve. Consumer surplus.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify economic problems and economic decision makers.
  2. Apply graphical analysis to problem solving
  3. Examine the role of the market in the solution of the three economic problems
  4. Define and analyze market equilibrium and it dynamics.
  5. Quantify market responses of buyers and sellers.
  6. Identify and describe the applications of supply and demand
  7. Analyze consumer decision making and assess the importance of consumer surplus

ABSE102: Εισαγωγή στη Μακροοικονομική

Course Contents

Introduction to macroeconomics:

Objectives of macroeconomic analysis. Main macroeconomic variables: output, employment, price level. Employment vs. unemployment. Aggregate supply and aggregate demand

Measuring macroeconomic activity:

Identifying GDP: final goods vs. intermediate goods; value added. Three approaches to measuring GDP. The expenditure approach. Economic decision makers and their spending. The Income approach. Primary income vs. final income. Factor payments vs. transfer payments. Income approach vs. expenditure approach. NDP and domestic income. Private income and disposable income. GDP deflator: real vs. nominal GDP. GDP shortcomings

Aggregate expenditures:

Consumption spending: consumption function and consumption curve. Factors, determining the slope of the consumption curve and factors, determining its position. The savings function. Gross private investment demand – definition, components and determinants. Government spending. The import’s function.

The dynamics of macroeconomic equilibrium:

Macroeconomic equilibrium: AE = Y.  Planned vs. actual spending and disequilibrium. The role of inventories. Injections and leakages. The equilibrium condition: Injections = Leakages.  The simple multiplier. The complete multiplier and its constraints. Macroeconomic fluctuations and the business cycle.

Fiscal policy:

Definition and typology.  Goals and instruments of fiscal policy. The government budget. Deficits and surpluses. The demand side fiscal policy: determinants and effectiveness. The budget multiplier. Empirical evidence on the effectiveness of fiscal policy.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the key concepts of macroeconomics, the objectives and instruments of macroeconomic analysis.
  2. Analyze outcomes of economic activity: Gross Domestic Product, real and nominal GDP, price indexes and employment and unemployment.
  3. Compare and contrast different approaches to measuring GDP
  4. Identify and quantify aggregate expenditures; analyze their determinants and apply them in problem solving
  5. Integrate concepts of macroeconomic equilibrium and appraise its dynamics.
  6. Derive the simple and the complete multiplier and interpret its constraints.
  7. Evaluate business fluctuations and apply the theory of business cycle to the analysis of the current economic slowdown.
  8. Define and categorize the types of fiscal policy and debate their controversies

ABSL210: Δίκαιο των Επιχειρήσεων Ι

Course Contents

The Legal System of Cyprus ; Definition of Law. Distinguishing between types of law. Considering the sources of law in Cyprus , namely the European Law, the Constitution, Case Law, Common Law & Equity. Meaning and application of the doctrine of precedent and the doctrine of necessity. Court structure, hierarchy and jurisdiction. EU institutions. Examination of sources of EU law (regulations, directives etc). Considering the notions of direct effect and direct applicability. Meaning of human rights and their protection in Cyprus .

Analysis/Introduction to Contract Law – Formation of Contracts I: Contract law definitions and Principles. Examination of the elements that are required for a legally binding contract to exist and analysis of the main elements: offer, acceptance, consideration, intention. Types of Contracts. Distinguishing offers from invitations to treat. Explanation of the doctrine of Promissory Estoppel and Privity of Contract.

Vitiating Factors of Contract and Terms – Formation of Contract II: Distinguishing between terms and representations. Classification of contractual terms (conditions, warranties etc). Meaning and effect of breach of contract. Remedies and rules for awarding damages.

The Law of Torts: The effect of tort law as part of the law of obligation. Distinction between liabilities and nature of tort and contract. Types of torts, namely the tort of negligence.

Introduction to Company Law: The effect of separate legal personality, distinguishing between different types of companies (private/public company and between companies limited by shares/by guarantee) and from other forms of businesses, such as partnerships.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Acquire knowledge of the foundations of business law and how these operate within context of business.
  2. Explain the main sources of law of Cyprus including the application of EU Law and UK Law, the structure and jurisdiction of the Courts and the application of legal doctrines.
  3. Analyse the main elements of a legally binding contract, appreciate the key role of contract terms in commercial transactions, understand the effects of breaching a contract, the rules in relation to recovering damages and the remedies available to the innocent party.
  4. Understand the difference between law of torts and law of contracts, the different types of torts including the tort of negligence.
  5. Understand the structure and differences between various entities (companies and partnerships), advise and compare in terms of liability.
  6. Analyse the legal liability of parties in business transactions and to demonstrate the capacity for legal analysis, research and problem solving skills within the context of Business Law.
  7. Develop a critical understanding of the law so as to be able to apply the legal principles (and case law) to various practical situations and to produce written advice.

ABSE403: Οικονομικά της Ευρωπαϊκής Ένωσης

Course Contents

Introduction to history and institutions

History of European Integration

Basic facts, law, institutions and the budget

Decision making

 

The economics of integration: tools and concepts

Introduction to essential microeconomic tools and preferential liberalisation

Market size and scale effects

Growth effects and factor market integration

Economic integration, labour markets and migration

Introduction to essential macroeconomic tools

 

EU Micro policies

The Common Agricultural Policy

Location effects, economic geography and regional policy

EU competition policy and state aid policy

EU trade policy

 

EU monetary and fiscal policies

The European Monetary System

The European monetary union

Fiscal policy and the Stability Pact

The financial markets and the euro

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explain how European integration came about and analyse the economic and political logic that led to the creation of the Union.
  2. Identify how micro and macro economic tools can help understanding the logic of integration.
  3. Review the main EU policies and their effects on the economy and society.
  4. Analyse the monetary and fiscal aspects of the European integration process.

AFAI300: INTERNSHIP

Course Contents

1.  Registrations for internships are handled at the departmental level with the cooperation of the Careers office and the Industry liaison office at Frederick University. . A departmental internship coordinator assists the student in designing the internship experience in various business disciplines such as; Marketing, Human Resources, Accounting & Finance, Operations etc..

2.  Close liaison should be attained between the university and the firm, institution, or agency in order to ensure that the aims and objectives of the program are fulfilled and a high-quality of internship is attained. For this purpose on-site visits may be carried out by the Internship coordinator to ensure that all conditions are fulfilled.

3.  A number of interim reports will be submitted to enable assess and evaluate the progress of the student. The reports which should also be signed by the work / department supervisor must show the basic skills the student is expected to develop (communication, working in groups and under time constraints) as well as the duties performed and their relevance to the theory gained in class.

4.  Students will be required to submit a final report for assessment before a grade is given to them. The final report which should also be signed by the work / department supervisor should include an overview of the company, the structure of the company, a detailed reference to the  duties performed and their relevance to the theory gained in class, main problems faced as well as benefits gained at work.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Integrate classroom knowledge and experience in an industrial, / practical setting in various businesses, government, or community-service work situations
  2. Translate academic principles to action, to test career interests, and to develop skills and abilities through carefully planned and supervised programs related to the Business degree they are seeking.
  3. Comprehend the contemporary turbulent and changing business environment.
  4. Develop the appropriate communication skills necessary to communicate effectively with superiors, inferiors, colleagues and customers.
  5. Work under pressure and within time constraints.
  6. Learn to work in groups.
  7. Expand and utilize the experience gained during their employment into a thesis project.

AFAT420: Προηγμένη Φορολογία Ι

Course Contents

Corporation tax: Construct computations involving basic and advanced aspects (such as groups and overseas tax).

Overseas tax: Distinguish between unilateral and double tax relief. Prepare tax computations involving individuals and companies involving overseas aspects and consider tax planning aspects.

Immoveable Property tax: Examine the scope of this tax. Prepare computations for immoveable property tax and recognise the administration of the tax.

Special Defence Contributions: Examine the scope of this tax. Prepare computations for these contributions and recognise the administration of the tax. Examine its role in tax planning especially in the case of deemed distributions.

Personal Financial Management: Identify and apply personal financial management principles.

Capital Gains Tax: Examine the scope of this tax. Prepare computations for the tax and recognise the administration of the tax. Examine aspects of capital gains tax in the areas such as gifts, inheriting property, exchanging property etc. Produce solutions to minimising tax using available tax reliefs.

VAT: Evaluate the basic principles of VAT for groups and divisions. Identify the rules on advanced aspects of VAT such as: the supply of land and buildings; supplies within the EU; imports and exports etc.

Income tax: Assess the basic principles of income tax. Prepare income tax computations for individuals involving both basic principles and advanced aspects.

Tax planning: Applying tax planning solutions for individuals and companies concerning: corporation tax, income tax, special defence contributions, social contributions and VAT.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Interpret the results of advanced tax computations for individuals and companies and express in report or letter format.
  2. Identify the principles underlying personal financial management.
  3. Construct advanced personal and corporate tax computations in the areas of corporation tax, capital gains tax, income tax, social contributions and VAT.
  4. Examine computational and theoretical aspects of immoveable property tax and special defence contribution liabilities.
  5. Evaluate overseas and group aspects involving the interaction of taxes and propose tax saving schemes.

AFAT421: Προηγμένη Φορολογία ΙΙ

Course Contents

Introduction to computer organization and architecture: Instruction cycle and flow of information at the register level. Instruction Set Architectures, instruction formats and instruction decoding. Relation between machine language, assembly language and high level languages.

Corporation tax: Computations involving basic and advanced aspects (such as groups and overseas tax). Computations for special purpose enterprises (e.g. investment companies, insurance, shipping etc). Examine the tax effects on distributions to shareholders after a winding up has concerned.

Connected persons – Understand the arms length principle and its tax implications. Prepare tax computations involving companies controlled by five or fewer persons. Examine the tax implications of director loans.

Stamp duty: Scope, exemptions, computations and administration of the tax. Examine its role in tax planning.

Transfer tax: Scope, exemptions, computations and administration of the tax. Examine its role in tax planning.

Corporate Financial Management: Understanding and application of corporate financial management principles.

Capital Gains Tax: Scope, computations and administration of the tax. Examine the capital gains tax with areas such as connected persons. Provide solutions to minimising tax using available tax reliefs.

VAT: Basic principles, groups and divisions. Identify the rules on advanced aspects of VAT such as: the supply of land and buildings; supplies within the EU; imports and exports etc.

Income tax: Understand the basic principles of income tax. Prepare income tax computations for individuals involving both basic principles and advanced aspects.

Tax planning: Tax planning for individuals concerning corporation tax, income tax, special defence contributions, social contributions and VAT.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explaining how to minimise or defer tax liabilities through the use of standard tax planning measures
  2. Identify the principles underlying personal financial management for companies.
  3. Propose solutions to clients on tax issues that are based supporting computations and their interpretation.
  4. Examine computational and theoretical aspects of stamp duty and transfer fees
  5. Evaluate the impact of relevant taxes on various situations and the proposal of alternative ways to minimise tax liabilities.

AFBE320: Λογιστική & Επιχειρηματική Ηθική

Course Contents

Ethical theories: Distinguish between various ethical theories such as: relativism and absolutism. Distinguish between the deontological and teleological approach to ethics. Ethical decision-making models in accounting and professional contexts.

Social responsibility: Describe and evaluate the different approaches to ethics and social responsibility. Appraise corporate and personal ethical stances. Analyse the variables determining the cultural context of ethics and corporate social responsibility.

Code of ethics and ethical conflicts: Corporate codes of ethics. Professional codes of ethics. Critically evaluate the code of ethics relevant to accounting professionals. Evaluate issues associated with conflicts of interest and ethical conflicts. Appraise the nature and impacts of ethical threats and safeguards. Analyse the relationship between independence and ethical behaviour.

Corporate governance and agency theories: Definition, purposes and objectives of corporate governance. Evaluate the roles of external parties involved in corporate governance. Define and explore agency theory and its key concepts. Explain the relationship between corporate governance with the principal agency relationship.

Boards and corporate governance: Roles and responsibilities of boards of directors. Analysis of board structures. Characteristics of board composition. Purposes, roles and responsibilities of non-executive directors. Distinguish between the roles of the chairman and the chief executive officer (CEO). Assess the importance of board expertise. Analyse the frameworks for assessing board performance.

Committees and director remuneration: Explain and assess the importance, roles and accountability of board committees. Analyse the roles in effective corporate governance of various committees. Describe and assess the general principles of remuneration. Assess the effect of remuneration packages on directors’ behaviour.

Social and environmental issues in business and ethical behaviour: Describe and assess the social and environmental   effects economic activity can have. Explain and assess the concept of sustainability and evaluate the issues concerning accounting for sustainability. Describe the main features of internal management systems for environmental accounting. Explain the nature of social and environmental audits and evaluate its contribution to environmental accounting.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Evaluate different theories of ethics.
  2. Explain the relationship between corporate governance and responsibility
  3. Apply different ethical theories to accounting and business ethical cases.
  4. Appraise the accounting professions code of professional conduct.
  5. Explain situations where corporate governance structures have broken down.

AFCE330: Συγκριτική Ανάλυση Οικονομικών Συστημάτων

Course Contents

Introduction to Comparative Economics: Comparative economics in economic theory. The economic system. Classification of economic systems. Economic systems, models and cases. Traditional Comparative Economics and New Comparative Economics.

Evaluating and Comparing Economies: Criteria for comparisons. Allocative efficiency. Static and dynamic efficiency. Efficiency in distribution. Measuring economic performance. Economic growth and quality of life. The social welfare functions and the models of the market economy. Classification of the models of the market economy.

The Guided Market Economy: The social welfare function of the guided market economy. Main institutions of the model: nature and features of industrial policies; the business system of the guided market economy; the banking system and capital allocation; main features of the labor market. Globalization and the crisis of the guided market economy in the last decades. Case studies: the Japanese economy, the French economy, the Greek economy. Foundations of the Greek crisis. Alternatives and imperatives for the guided market economy from the perspective of Europe 2020.

The Modified Market Economy:  Main features of the modified market economy. Structure and effectiveness of institutions: the stock exchange and capital allocation; the business system. Microeconomic policies. Technological and structural changes in the last decades. Advantages and drawbacks of the modified market economy. Case studies: the economic system of the United States , the British economy.

The Social Market Economy: The social welfare function of the social market economy. Priorities and challenges of the model. Capital allocation and the business system. The importance of associations. Specific features of the labor market. Economic and social outcomes of the model. Case studies: the German economy, the Swedish model.

Main Features of Developing Countries: Defining the developing world. The structural diversity of developing economies. Common characteristics of developing nations. How developing countries today differ from developed countries in their early stages. Incorporation of developing countries in the world economy. Salient features of contemporary trade and investment flows. The role of the MNCs. Export promotion versus import substitution. The industrialisation strategy approach to export policy.  South-South trade and economic integration. The controversies of sustainable development. Financing and reducing payment deficits. IMF stabilisation policies. The Washington consensus. Empirical evidence. Discussion of different approaches to the establishment of new rules of the world economic order. Case studies.

The Command Economy:  Main features of the command economy. Institutions of the command economy and their constraints. Economic and social potential of the command economy. Endogenous reasons for the collapse of the command economy.

Economics of Reform and Transition: The transition to the market economy. Institutional revolution and economic growth. Models of transition. Microeconomic problems of macroeconomic policies. Case studies: the transition in an Eastern European country, the transition in Russia , the Chinese economy.

Globalization and reforms of the models of the market economy: The nature of globalization: technological, institutional and structural changes in the world economy. Confrontation of opposing views on globalization. The role of institutions in the world economy.  Economic reforms – a choice or an imperative. Europe 2020. The single European market and the multiple European problems and challenges.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify institutions of the economic system and measure its performance
  2. Distinguish models of the market economy and critically assess their merits and drawbacks
  3. Construct and analyze the social welfare function
  4. Compare and analyze alternatives and imperatives for economic development of different countries
  5. Synthesize the knowledge gained in this course with that of other related economics courses, so as to appraise, argue, defend and support personal views, concerning appropriate economic policies for different countries.

AFCE410: Τρέχοντα Οικονομικά Θέματα

Course Contents

Globalization and the world economic order: The nature of globalization: technological, institutional and structural changes in the world economy. Confrontation of opposing views on globalization: Why globalization works (M. Wolf) vs. Globalization and its discontents (J.Stiglitz). The role of institutions in the world economy. The rules of the world economic order, established in the second half of the 20th century. The IMF, the World bank, G-7, G-8, G-20. Critical assessment of “the rules of the game”. The controversies of sustainable development. Discussion of different approaches to the establishment of new rules of the world economic order.

The World’s financial crisis and the recession in the real sector: An overview of the financial crisis. Drying up investment. Critical assessment of financial and institutional solutions, offered in the EU and in the U.S. Discussion of imperatives and alternatives of the world economic recovery and growth.

The EU: Multiple European Problems and Challenges: The single European market and the multiple European problems and challenges. Short run vs. long run economic problems in the EU. Critical assessment of the Lisbon Agenda: goals, tools, and achievements. Europe 2020. Analysis of the merits and drawbacks of the European Monetary Union. The current sovereign debt crisis and the controversies of approaches to handle it. Case studies.

The world’s markets for commodities: Characteristics of the world’s markets for commodities (crude oil, natural gas, grains and vegetable oils, etc). Discussion of technological and structural changes and their impact on the world’s markets for commodities. Assessment of pros and cons of prospective future developments.

Current Economic Issues of the Republic of Cyprus: Analysis of the crisis in the real estate market. Discussion of alternative solutions for negative externalities – the water problem, the issue of energy saving, etc. Other issues of the day

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Categorize the most acute contemporary economic problems and discuss their sources.
  2. Examine the nature of globalization and confront the opposing views on its impact on welfare
  3. Critically assess the role of institutions in the world economy and their constraints.
  4. Compare and contrast different theoretical approaches to the contemporary financial crisis and the recession in the real sector.
  5. Debate the merits and drawbacks of the European Monetary Union from the current sovereign debt crisis.
  6. Evaluate the effectiveness of different approaches to current economic problems in Cyprus and globally, and arrive at a consistent personal point of view, assembling information and data to support it.

AFCP210: Πακέτα Εφαρμογών Η/Υ

Course Contents

Introduction to Microsoft Excel and the concept of spreadsheets

Explain basic functionality of Microsoft Excel

Basic Functions in Microsoft Excel

Use basic functions in Microsoft Excel

SUM, AVERAGE, MIN, MAX

 

Formatting cells & creating charts in Microsoft Excel

Use cell formatting

Create charts

 

Advanced Functions in Microsoft Excel

Use advanced functions in Microsoft Excel

IF, LOOKUP

 

Working with Multiple Excel Worksheets

Consolidation of data

Pivot Tables

Cash Budgets

Conduct Excel exercises for calculating cash budgets

 

Forecast Trading

Conduct Excel exercises for forecast trading

PV, FV, NPV

 

Final Accounts

Conduct Excel exercises for profit and loss statement and balance sheet and other financial reports

              PMT, IPMT, PPMT

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify and examine the basic functionality of Microsoft Excel.
  2. Use and apply functions from Microsoft Excel to solve accounting-related problems.
  3. Use and apply functions from Microsoft Excel to predict financial scenarios.
  4. Construct data tables and analyze data.
  5. Construct pivot tables and consolidate data.
  6. Design and develop charts and graphs for data presentation.

AFIE315: Βιομηχανική Οικονομική

Course Contents

Introduction to Industrial Economics:

Relating microeconomic analysis to the theory of industrial economics. Alternative approaches to the analysis of competition. Definition of industry and its main determinants. Structure-conduct – performance approach to the analysis of competition. The constraints of the SCP paradigm.

The theory of the firm. Firm’s motivation and rationality. Transaction costs and their dimensions.

Market Structure and Concentration: 

Determinants of market structure. M. Porter’s five forces model of competitive structure. Main determinants of concentration. Alternative measures of market concentration. Concentration and profitability. Long run trends in concentration. Different techniques to measuring long run costs. Scale economies and economies of scope. Analysis of merger behaviour.

 

Market Structure and Product Differentiation:

Definition. Sources of differentiation. Horizontal vs. vertical differentiation. Market segments, strategic groups and product proliferation. The need for consumer protection.

 

Market Structure and Barriers to Entry:

Definition of barriers to entry. Structural (innocent) vs. strategic barriers to entry. The impact of barriers to entry on market structure.

Pricing practices of big firms:

Models of noncooperative pricing and assessment of its stability.  Conditions for cooperation. Tacit and intacit behavior. Cartel pricing and its constraints. Conduct of the dominant firm and price leadership. Cost plus pricing model and its implications.

Price discrimination: conditions and stimuli; types of price discrimination. Simulation of methods of price discrimination. The impact of price discrimination on firm’s profitability and on welfare.

Performance of the big business:

Profitability, allocative efficiency, and efficiency in distribution. Market power and X-inefficiency.  Critical evaluation of  the views on social responsibility of business. The need for antimonopoly legislation. Main principles and dimensions of antitrust. Basics of the antimonopoly legislation of the EU.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify alternative approaches to the analysis of competition.
  2. Define industry and discuss its main determinants
  3. Critically assess firm’s motivation and rationality
  4. Analyze determinants of market structure
  5. Examine models of oligopoly pricing and assess their efficiency.
  6. Discuss basic principles of antimonopoly legislation.

AFIE320: Διεθνής Πολιτική Οικονομία

Course Contents

Introduction to international trade

The main economic questions from the perspective of international trade. The basis of international trade and the evolution of trade theory: absolute vs. comparative advantages. The terms of trade. The gains from trade.

International trade policies

Trade restrictions: tariffs and non-tariff barriers to trade. Free trade vs. protectionism. Strategic trade policies. The New protectionism: theories and evidence. International trade and economic development.

International factor movements

Theories of international factor movements: motives and welfare effects. The impact of institutional differences on international trade and investment. Types of international investments and their determinants. M. Porter’s theory of competitive advantages of nations. J. Dunning’s contribution to the theory of international investment and multinational corporations.

The Balance of Payments

The Foreign exchange market and the Balance of Payments. Factors determining fluctuations in the foreign exchange market. The balance of payments. Accounting balances and disequilibrium in international transactions. Fixed vs. floating exchange rate systems. The international monetary system.

Theory and practice of international economic integration

The theory of economic integration. Stages of economic integration. Origins, evolution, and treaties of the European communities and the establishment of the European Union. The Lisbon treaty and the future of the EU.

Institutions of the European Union

Competencies of the EU and its institutions. The European Parliament. The Council of the EU. The Presidency of the EU. The European Commission. The Court of auditors and the Court of Justice.

Policies of the European Union

Goals, instruments and subjects of the policies of the EU. The common agricultural policy – achievements and controversies. The competition policy and its potential. Advantages and shortcomings of the industrial policy. Research and technological development policy. Effectiveness of policies of the EU: theory vs. reality.

The European monetary integration

Theory of monetary integration. The economic and monetary union.  The convergence criteria and the Eurozone. Competencies of the European Central bank. Analysis of the merits and drawbacks of the European Monetary Union. The problem with budget deficits and stability in the Eurozone.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Critically evaluate conventional theories of international trade and foreign investment and debate free trade vs. protectionist policies.
  2. Evaluate the centrifugal and centripetal forces in the world economy and assess the impact of institutional differences on international trade and international business
  3. Examine how exchange rates are affected by fluctuations in economic growth, inflation, interest rates, and expectations.
  4. Explain the meaning of the Balance of payments and compare and contrast the effects of fixed versus flexible exchange rates on a nation’s macroeconomic performance.
  5. Understand and assess the theory of economic integration and explain origins, evolution, and treaties of the European Union.
  6. Analyze institutions of the European Union and assess the competences of the European Union.
  7. Debate goals, instruments and effectiveness of policies of the European Union: agricultural policy, competition policy, industrial policy, and research and technological development policy.
  8. Critically evaluate advantages and disadvantages of the European monetary integration and debate the current economic problems of the eurozone.

AFIN306: Ανάλυση Επενδύσεων, Θεωρία και Διαχείριση Χαρτοφυλακίου

Course Contents

An overview of financial markets: The investment environment and distinction between real and financial assets, the players of the financial system (households, business and government sector) and their role, the money market, the bond and derivative market structure and their role, the security trading process, mutual funds and other investment companies

Portfolio theory: Means, variances and correlations of assets, feasible investment set, minimum variance set and efficient set, investor preferences in mean-variance space and the concept of diversification, portfolio optimization and optimal capital allocation

Stock Valuation and market efficiency: dividend discount model, Discounted free cash flow approach and CAPM, implications of market efficiency under its different forms

Derivatives and their use: the characteristics of derivative securities, different types of derivative securities and their use,risk management use of derivative securities

Fixed income securities: List of bond characteristics, different types of government and corporate bonds
, option provisions embedded in bond contracts
, present value formulas for bond pricing, the term-structure of interest rates and interest uncertainty, managing bond portfolios based on duration and immunization

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Describe of the investment environment, markets and institutions
  2. Apply portfolio theory analysis using expected returns, risk and explain the concept of diversification
  3. Calculate the value of stocks using alternative models based on dividend and future free cash flows and use traditional models of optimal capital structure.
  4. Explain and apply the theory of market efficiency in different settings
  5. Describe other types of financial instruments like forwards, futures and swaps and their role in hedging risk
  6. Explain the characteristics of fixed-income securities and the impact of different forms of uncertainty affecting fixed-income securities

AFIN411: Διεθνή Χρηματοοικονομικά

Course Contents

Introduction to International finance: multinational firm, exchange rate risk, political risk, interest rate risk, goals of international financial management and risk management, national income accounting and the balance of payments, effect of national debt and its effect on import/export industries, the link between balance of payments imbalances and exchange rates under fixed and floating exchange rate regimes, main historical developments of the international monetary environment, current monetary environment and the reasons for major international financial crises

Valuation of forwards, futures and options: No arbitrage conditions and rational prices for forward and future contracts, currency forwards contract pricing, forward, spot and expected currency prices and home and foreign interest rates, no-arbitrage theory and the valuation of simple currency options and Quantos

Exchange rate determination and the link with interest rates, prices and economic policy: The Law of One price and absolute and relative purchasing parity, international version of Fisher Effect connecting inflation, real and nominal interest rates of different countries, empirical evidence for purchasing power parity theory and explanations, interest rate parity, expected inflation differences and expected changes in the exchange rates, covered interest arbitrage, short run equilibrium in the product and asset markets and the effects of temporary and permanent shifts in monetary and fiscal policy

Managing foreign exchange rate and interest rate exposure: Risks involved in international operations in different industries, forward, futures and option contracts to hedge currency risk with examples in different industries, swaps and interest rate risk

Foreign investment decisions and the cost of capital of international operations: types of entity for foreign operations and possible barriers to entry to foreign direct investment, implications of political risk on the overseas investment decision, international cost of capital using international version of the CAPM, adjusted present value for international investment decisions, taxation in the international enviroment

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Describe the risks and goals of the multinational firm and the fundamentals of the international financial system and national accounts
  2. Explain the valuation of currency forwards, futures and options and the connection between home and foreign interest rates and futures prices
  3. Explain the economic relationship between interest rates, inflation and exchange rate and the effect of fiscal and monetary policy in short run economic variables
  4. Explain the effect of currency risk in different industries and the use of forwards and futures to hedge this risk
  5. Use capital structure theory adjusted for the international firm for the calculation of the cost of capital of international projects, explain the issues involved in international investment and capital structure decisions

AFME325: Χρηματιστηριακά Οικονομικά

Course Contents

Financial instruments, markets and institutions

Financial institutions. Financial instruments and markets (bonds, stocks, mortgages, derivatives).

Financial intermediaries: purpose and profile. Banking vs. non – banking financial institutions.

Interest rate measurement and behaviour

Calculating interest rates (simple, compound, coupon, current yield, yield to maturity, zero coupon). The bond market. Inverse relationship between yields and bond prices, long term versus short term, nominal versus real, annual versus yield to maturity. Factors, determining the level of interest rates (supply and demand, inflationary expectations, cyclical and long term trends).

Understanding foreign exchange

The foreign exchange market. Factors, determining foreign exchange rates fluctuations. Fixed versus floating exchange rates systems. The impact of foreign exchange fluctuations on economic activity.

Monetary theory

Classical economics. The quantity theory of money. The Cambridge school. The Keynesian framework vs. monetarism and new classicists. Instruments and effectiveness of monetary policy. Money multiplier vs. deposit multiplier.

Central banking

The nature and the functions of the Central Bank. The Central European Bank vs. National Central Banks. The Central Bank of Cyprus . The issue of central bank independence.

The IS-LM model

Assumptions of the IS-LM model. Equilibrium in the real sector and the IS curve.

Equilibrium in the money market and the LM curve. IS-LM analysis in an open economy under fixed and under floating exchange rate, under perfect capital mobility and perfect capital immobility. Effectiveness of monetary and fiscal policies from the perspective of the IS-LM model. Empirical evidence on the effectiveness of monetary policy in an open economy.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Examine the nature and structure of the financial system
  2. Estimate various interest rates such as current yield, yield to maturity, coupon, and rates of return using actual country data
  3. Analyze money markets and their relation to the interest rates, GDP, investment and inflation
  4. Explain the various transmission channels of monetary policy, and assess its impact on economic activity in an open economy.
  5. Compare and contrast different theoretical approaches to monetary policy
  6. Critically examine the effectiveness of monetary policy in the open economy

AFOR310: Επιχειρησιακή Επιστήμη Ι

Course Contents

Operations and Productivity

Define operations management

Explain distinction between goods and services

Explain difference between production and productivity

Calculate single & multifactor productivity

  Operations Strategy

Identify and define key decisions in operations management

Identify and define global operations strategy options

Design of Goods & Services

Define product life cycle

Build a house of quality

Apply decision-trees to product issues

  Managing Quality

Define Quality & TQM

Explain Six Sigma

Use tools of TQM

Process Strategy

Describe production processes

Compute cross-over points for different processes

Use tools for process analysis

  Supply chain management

Identify supply chain strategies

Evaluate supply chain performance

Compute inventory turnover

  Outsourcing

Explain how core competencies relate to outsourcing

Use break-even analysis to determine cost-effectiveness of outsourcing

  JIT & Lean Production

Define JIT and lean operations

Determine optimal setup costs and times

Explain principles of the Toyota Production System

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Define operations management
  2. Calculate single & multifactor productivity
  3. Identify and define key decisions in operations management
  4. Define product life cycle
  5. Apply decision-trees to product issues
  6. Explain the key principles of Total Quality Management
  7. Describe production processes
  8. Compute cross-over points for different processes
  9. Evaluate supply chain performance
  10. Compute inventory turnover
  11. Use break-even analysis to determine cost-effectiveness of outsourcing
  12. Define JIT and lean operations
  13. Determine optimal setup costs and times

AFOR320: Επιχειρησιακή Επιστήμη ΙΙ

Course Contents

Project Management

Define project management

Develop time estimates for project tasks using PERT

Use Microsoft Project software

  Forecasting

Utilize forecasting techniques for short, medium, and long-range horizons

  Statistical Process Control

Create statistical control charts

Identify processes and measures where variable charting techniques would be appropriate and where attribute charting techniques would be the proper choice

  Capacity Planning

Demonstrate design and effective capacity planning

Use break-even analysis for product planning

Location Strategies

Apply location decision methodology

  Layout Strategies

Describe local organizations that exhibit each of the seven basic layout types and explain why their choice is appropriate

  Work Measurement

Perform a work sampling study of different activities

  Material Requirements Planning (MRP) and ERP

Describe the distinguishing features of MRP & ERP

Examine ERP and related issues of process reengineering, standardization, and change management

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Define project management
  2. Develop time estimates for project tasks using PERT
  3. Use Microsoft Project software
  4. Utilize forecasting techniques for short, medium, and long-range horizons
  5. Create statistical control charts
  6. Identify processes and measures where variable charting techniques would be appropriate
  7. Demonstrate design and effective capacity planning
  8. Apply location decision methodology
  9. Perform a work sampling study of different activities
  10. Examine ERP and related issues of process reengineering, standardization, and change management

AFPE310: Δημόσια Οικονομικά

Course Contents

Introduction to Public Economics: Subject matter of public economics. Market functions and outcomes. Market failures. Merit and demerit goods. The rational of government intervention. Different perspectives of the role of government. Normative and positive economics.

Functional vs. Social Market Failures: Functional market failures. Public goods vs. private goods. Attributes of public goods. The ‘tragedy of the commons’. Private vs. social benefits and costs and externalities. Asymmetric information. Moral hazard and adverse selection. Social market failures. Different approaches to the assessment of social market failures.

Objectives and Decision Modes. Types of Government Activity: Economic objectives of the society. Efficiency, growth, liberty and equality. Types of efficiency. Measurement of efficiency and its constraints. Pareto efficiency and welfare economics. The trade-off of efficiency and equity. Sustainable development. Development as freedom. Decision modes and types of government activity. Free markets, price controls, subsidies, taxation, non-price regulations, public enterprise.

Public goods and Publicly Provided Private Goods: The rational of the production of public goods. The demand for public goods – the demand schedule and the demand curve. Methods of the provision of public goods. Efficiency conditions for public goods. Efficient government and a public good. The rational of the public provision of private goods. Subsidies.

Natural Monopoly and Antitrust: Natural vs. institutional monopoly. Natural monopoly vs. the market structure of pure monopoly. The welfare loss of the monopoly. Methods of regulation of natural monopoly. Price controls. Goals and principles of antimonopoly legislation. Sources of inefficiency of regulations. Competitive policies of the government

Externalities and the Environment: Positive and negative externalities. Private and social costs and benefits – formal and graphical analysis. Private solutions to externalities. Public sector solutions to the externalities. Protection of the environment. The water problem in Cyprus

Taxation and Government Redistribution of Income: The rational for taxation. Principles of taxation. Types of taxes. Costs of taxation in terms of consumer and producer surplus. Tax incidence. Price controls vs. taxation. Thee benefits of taxation. Inequality in income distribution. Lorenz curve and Gini coefficient. Government policies of redistribution of income.

The Role of Government and Models of the Market Economy: The three economic problems and the rational of classification of three models of the market economy. The social welfare function. The guided market economy and its current crisis. The modified market economy and its achievements in the 21st century. The social market economy and its potential in the context of the Lisbon Agenda and Europe 2020

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Categorize and examine market failures.
  2. Estimate the demand for public goods and asses various ways of their provision.
  3. Analyze social choices and discuss the effectiveness of social preferences.
  4. Examine advantages and shortcomings of the natural monopoly and discuss various methods of its regulation.
  5. Identify private and social costs and benefits and apply formal and graphical analysis in their estimation.
  6. Identify private and social costs and benefits and apply formal and graphical analysis in their estimation.

AFRE410: Σύγχρονα Ζητήματα Χρηματοοικονομικής Πληροφόρησης

Course Contents

Environmental and social reporting: Examine its effects on performance. Identify and appraise current reporting requirements. Apply the disclosures for environmental and social reporting to case study scenarios.

The role of stakeholder groups on financial reporting: Examine the role and influence of different stakeholder groups in the financial regulatory area.

Variation in Financial Reporting Regimes: Contrast the financial reporting regimes for the: USA , UK and Cyprus (International Financial Reporting Standards).

Convergence of accounting practice: Identify the term accounting harmonisation. Appraise the pressures for accounting harmonisation. Analyse the benefits and drawbacks of accounting harmonisation. Critically appraise the reasons for, and critiques of, the pursuit of the global convergence of accounting practice. Recognise implementation issues that may arise from the convergence process.

Specific reporting issues: Critically evaluate the accounting practice for Cyprus concerning: Consolidation accounting, Non-current assets, leases, share based payments, first time adoption of standards, goodwill, intangibles, financial instruments, provisions and segmental reporting.

Current developments: Examine recent proposals by international accounting standard setters concerning changes in accounting practice (including discussion papers). Critically appraise the current developments in international accounting practice concerning proposed changes.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Evaluate current developments in corporate reporting and its effects on accounting practice.
  2. Examine the reasons for, and critiques of, the pursuit of the global convergence of accounting practice.
  3. Appraise the relevance of ethical, economic and social factors to contemporary debates on international financial reporting practice and regulation.
  4. Examine the role and influence of different stakeholder groups in the financial regulatory area.
  5. Analyse the effect of significance of major accounting differences across countries and their impact upon financial statement analysis.

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