Master of Science (MS) in Finance

Program Overview

Master of Science (MS) in Finance

Master of Science in Finance includes core modules on accounting, finance and economics. Accounting courses will be of interest to anyone studying accounting, people working within financial operations or anyone who wishes to learn more about finance and accounting in general. They cover financial statements, including profit and loss accounts and balance sheets, and also examine ratio analysis. The Financial & Economic Literacy category also includes finance courses covering the fundamentals of finance, managing personal finances, investments, interest and taxation. It also includes courses on venture capital and fundraising. Economics courses include the fundamentals of economics, government economic policy, modern economics and courses covering supply and demand.

MS in Finance help's manage the cash assets within a company, the different controls and best practices are outlined with examples of documents and processes given for both checking accounts and petty cash. Samples of adjusting journals are given and the importance and use of the quick ratio are explained. This is followed with details on how to manage the accounts receivables, from calculating the provision for noncollectable accounts to the use of aged analysis. Similarly in accounts payable you will see how to make provision for both the known and unknown liabilities as well as how to use payable notes as for of short term finance.

The MS in Finance also examines ratio analysis, working capital, cash and finance, business analysis, and business risk and is also tool for those studying accounting, people working within financial operations of companies, and anyone who wishes to learn more about finance and accounting in general.

With our E-Course you will be able learn how to handle returns, discount and freight charges as well as working out the cost of goods sold. In inventory, you will see the two different methods of counting inventory, periodic and perpetual, as well as the different methods of calculating value of the inventory and the associated journal transactions to record the necessary adjustments.

MBA Degree Requirement

Applicants must have a recognized Bachelor degree in any discipline from an accredited college or university; Postgraduate Diploma or a recognized Graduate Certificate; or a recognized Diploma and 2 years work experience.

Delivery Mode

E-Learning - Self Paced

Program Learning Outcome

What is the Learning Outcome of the MS in Finance E-Course?

  • 1) Describe the art of finance and key financial terms
  • 2) Determine your role in company finances
  • 3) Find the rules and regulations for your area and industry
  • 4) Discuss various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
  • 5) Explain how a chart of accounts is created
  • 6) Tell the difference between cash and accrual accounting
  • 7) Explain single-entry and double-entry bookkeeping
  • 8) Differentiate between debits and credits
  • 9) Identify and analyze important financial data and make financial decisions
  • 10) Read annual reports
  • 11) Determine whether a company is financially high or low risk
  • 12) Recognize different types of organizational financial plans
  • 13) Explain what budgets are and how to prepare them
  • 14) Recognize what computer skills you need to make you a financial whiz
  • 15) Deal with financial situations that impact the people that work for you
  • 16) Define basic financial terminology
  • 17) Prepare a budget of any type or size
  • 18) Get your budget approved
  • 19) Perform basic ratio analysis
  • 20) Make better financial decisions
  • 21) Identify and describe the three basic forms of business organizations
  • 22) Determine the effects of individual transactions on the financial statements
  • 23) List and describe the four main financial statements
  • 24) Classify and record financial transactions
  • 25) List and execute the steps in the accounting cycle
  • 26) Work with t-accounts and journals
  • 27) Describe how to use adjusting entries
  • 28) Describe how to close out a set of accounts using a worksheet
  • 29) Describe how to prepare a classified balance sheet
  • 30) Identify and discuss the underlying assumptions, major principles and modifying conventions of accounting
  • 31) Process all the transactions necessary for a merchandising business
  • 32) Calculate the net realizable value and use is as a key performance indicator (KPI)
  • 33) Count and manage all the transactions relating to inventory
  • 34) Put in place the controls to help prevent errors in the handling of cash
  • 35) Manage the checking account and petty cash transactions and the associated document flow
  • 36) Calculate, analyze and use the financial results-quick ratio
  • 37) Manage the accounts receivables and payables using the allowance method
  • 38) Calculate provisions to payables, uncollectable etc.
  • 39) Calculate interest on notes receivable or notes payable;
  • 40) Analyze and use the financial results—accounts receivable turnover and the number of days' sales in accounts receivable.
  • 41) Describe the necessity for and features of internal control
  • 42) Define cash and list the objectives sought by management in handling a company's cash
  • 43) Identify procedures for controlling cash receipts and disbursements
  • 44) Prepare bank reconciliation statements and make necessary journal entries based on that schedule
  • 45) Explain why a company uses a petty cash fund, describe its operations, and make the necessary journal entries
  • 46) Calculate, analyze and use the financial results-quick ratio.
  • 47) Identify and discuss the underlying assumptions or concepts of accounting
  • 48) Identify and discuss the major principles of accounting
  • 49) Identify and discuss the modifying conventions (or constraints) of accounting
  • 50) Describe the conceptual framework project of the Financial Accounting Standards Board
  • 51) Discuss the nature and content of a company's summary of significant accounting policies in its annual report
  • 52) Identify the reasons why adjusting entries must be made; Identify the classes and types of adjusting entries
  • 53) Prepare adjusting entries
  • 54) Understand how depreciation is calculated and posted
  • 55) Understand the effect on financial reports when adjustment entries are not processed
  • 56) Understand how and why trend percentages are used when analysing financial reports
  • 57) Prepare a work sheet for a service company
  • 58) Summarize the steps in the accounting cycle
  • 59) Prepare an income statement, statement of retained earnings, and balance sheet using information contained in the work sheet
  • 60) Prepare adjusting and closing entries using information contained in the work sheet
  • 61) Analyze and use the financial results—the current ratio
  • 62) Prepare a post-closing trial balance
  • 63) Describe the evolution of accounting systems
  • 64) Prepare a classified balance sheet
  • 65) Record journal entries for sales transactions involving merchandise
  • 66) Describe briefly cost of goods sold and the distinction between perpetual and periodic inventory procedures
  • 67) Record journal entries for purchase transactions involving merchandise
  • 68) Describe the freight terms and record transportation costs. Determine cost of goods sold
  • 69) Prepare a classified income statement
  • 70) Analyze and use the financial results—gross margin percentage
  • 80) Prepare a work sheet and closing entries for a merchandising company
  • 81) Explain and calculate the effects of inventory errors on certain financial statement items.
  • 82) Indicate which costs are properly included in inventory.
  • 83) Calculate cost of ending inventory and cost of goods sold under the four major inventory costing methods using periodic and perpetual inventory procedures.
  • 84) Explain the advantages and disadvantages of the four major inventory costing methods.
  • 85) Record merchandise transactions under perpetual inventory procedure.
  • 86) Apply net realizable value and the lower-of-cost-or-market method of inventory.
  • 87) Estimate cost of ending inventory using the gross margin and retail inventory methods.
  • 88) Analyze and use the financial results- inventory turnover ratio.
  • 89) Use the account as the basic classifying and storage unit for accounting information
  • 90) Express the effects of business transactions in terms of debits and credits to different types of accounts
  • 91) List the steps in the accounting cycle
  • 92) Record the effects of business transactions in a journal
  • 93) Post journal entries to the accounts in the ledger
  • 94) Prepare a trial balance to test the equality of debits and credits in the journalizing and posting process
  • 95) Analyze and use the financial results—horizontal and vertical analyses
  • 96) Account for uncollectable accounts receivable under the allowance method
  • 97) Record credit card sales and collections
  • 98) Define liabilities, current liabilities, and long-term liabilities
  • 99) Define and account for clearly determinable, estimated, and contingent liabilities
  • 100) Account for notes receivable and payable, including calculation of interest
  • 101) Account for borrowing money using an interest-bearing note versus a non interest-bearing note
  • 102) Analyze and use the financial results—accounts receivable turnover and the number of days' sales in accounts receivable.

Credit Hours

Credit Requirements

Module 1 – Accounting (Total Learning Hours: 20)

  • Introduction
  • The Accounting Cycle
  • The Key Reports
  • A Review of Financial Terms
  • Understanding Debits and Credits
  • Your Financial Analysis Toolbox
  • Identifying High and Low Risk Companies
  • The Basics of Budgeting
  • Working Smarter
  • People and Numbers

Module 2 - Budgets and Managing Money (Total Learning Hours: 20)

  • Introduction
  • Finance Jeopardy
  • The Fundamentals of Finance
  • The Basics of Budgeting
  • Parts of a Budget
  • The Budgeting Process
  • Budgeting Tips and Tricks
  • Monitoring and Managing Budgets
  • Crunching the Numbers
  • Getting Your Budget Approved
  • Comparing Investment Opportunities
  • ISO 9001:2008
  • Directing the Peerless Data Corporation

Module 3 - Accounting - Merchandising Transactions (Total Learning Hours: 10)

  • Merchandising Transactions
  • Gross Selling Price
  • Returns and Allowances
  • Cost of Goods Sold
  • Classified Income Statement

Module 4 - Measuring and Reporting Inventory (Total Learning Hours: 10)

  • Merchandise Inventory
  • Determining Inventory Costs
  • Four Inventory Costing Methods
  • Pro’s and Con’s of the Four Costing Methods
  • Journal Entries for the Peretual Inventory Procedure
  • Departures from Cost Basis for Inventory Measurement

Module 5 - Accounting - Control and Monitoring of Cash Assessment (Total Learning Hours: 10)

  • Control of Cash
  • Internal Contols
  • Controling Cash
  • The Bank Checking Account
  • Bank Reconcilliation
  • Petty Cash Fund

Module 6 - Accounting - Receivables and Payables (Total Learning Hours: 10)

  • Accounts Receivable
  • Uncollectable Accounts
  • Write-offs and Recoveries
  • Current Liabilities
  • Notes Receivable and Note Payable
  • Short Term Financing through Notes Payable

Module 7 - Adjustments for Financial Reporting (Total Learning Hours: 10)

  • Cash versus Accrual Basis Accounting
  • Classes and Types of Adjusting Entries
  • Adjustments for Deferred Items - Expenses
  • Adjustments for Deferred Items - Depreciation
  • Adjustments for Accrued Items

Module 8 - Accounting and Its Use in Business Decisions (Total Learning Hours: 10)

  • The Accounting Environment
  • Accounting Defined
  • Overview of Accounting
  • Financial Statements of Business Organizations
  • The Financial Accounting Process
  • How Transactions Affect Income Statements and Balance Sheets
  • Dividends and Equity Ratios
  • Corporate versus Sole Proprietorship or Partnership Accounting

Module 9 - Recording Business Transactions in Accounting (Total Learning Hours: 8)

  • The Account and Rules of Debit and Credit
  • Recording the Transactions
  • The Accounting Cycle
  • The Accounting Process in Operation
  • Analyzing and Using the Financial Results
  • The Use of Ledger Accounts

Module 10 - Completing the Accounting Cycle (Total Learning Hours: 8)

  • The Work Sheet
  • Preparation of Financial Statements from the Work Sheet
  • Accounting Systems: From Manual to Computerized
  • The Closing Process
  • A Classified Balance Sheet
  • Analysis-Current Ratio

Module 11 - Accounting Theory (Total Learning Hours: 10)

  • Traditional Accounting Theory
  • Major Principles
  • Modifying Conventions
  • Objectives of Financial Reporting
  • Basic Elements of Financial Reporting

Module 12 - Financial Topics (Total Learning Hours: 10)

  • Foundation 1
  • Foundation 2
  • Checking Accounts
  • Short Term Savings
  • Credit
  • Summary
  • Foundation 3
  • Money Management
  • Matching Product
  • Comparison with Cash Management

Total Learning Hours: 136

Total Credits: 65

Potential Career Options

  • Bank treasurers, financial engineers, investment bankers, commercial or retail bankers, investment fund managers, venture capital managers, employees in insurance companies, private equity specialists Financial managers in non-financial companies (e.g. cor- porate treasurers, corporate finance managers, investor relations officers, traders, risk managers) Analysts, financial advisors, consulters
  • Members of governments, employees in public services, in legal firms and in regulatory bodies, managers in inter- national financial institutions and in central banks and participants seeking senior positions in these fields.

Exam Information

Exams are online and proctored based, using a webcam and a reliable internet connection exams can be taken anywhere and anytime.

1) CFM-001 exam comprises of 100 questions out of which the candidate needs to score 70% (70 out of 100 correct) to pass.

1) The total duration of CFM-001 exam is 1 hour 30 minutes (180 Minutes)

No external sources of information may be accessed during the exam at ProctorU.

1) If a Candidate does not pass the exam in the second (2nd) attempt, the candidate must wait for a period of at least fourteen (14) calendar days from the date of their attempt to retake the exam for third (3rd) time or any subsequent time.

2) The exam can be taken any number of times.

1) You will get credits only if you pass in the exam.

2) Exams can be taken separately (one at a time, if there are more than one exam) and in any sequence to earn a MBA.

3) You may retake any examination as often as necessary

Registration Link Details Course Access Price($) Access Link
1 Master of Science in Finance (E-Course + Exam Voucher(s)) One (1) Year 3500 USD