Master of Science in Finance and Accounting

Program Overview

The MS in Finance and Accounting is a forward-looking graduate program that combines finance, accounting, and research to prepare future business leaders. Designed for ambitious professionals and recent graduates, the program develops expertise in corporate finance, financial reporting, valuation, investment analysis, management and cost accounting, risk management, and data-driven decision-making.

Students benefit from a flexible curriculum, hands-on learning experiences, and close mentorship from accomplished faculty members. Whether pursuing careers in finance, accounting, consulting, banking, or advanced academic studies, graduates leave the program equipped with the knowledge, skills, and professional competencies required to excel in today’s global business environment.

Admission

A bachelor’s degree in business, economics, or a quantitative field such as mathematics, physics, engineering, or computer sciences from a university recognized by LAU.

• A minimum cumulative GPA of 3.0 on a scale of 4.0 or an equivalent score.
• English proficiency demonstrated by one of the following:
• A minimum score of 90 on the internet-based TOEFL (IBT).
• A minimum score of 7 on the International English Language Testing System (IELTS); or
• A minimum score of 123 on the English Entrance Exam (EEE) administered at LAU.
• Two letters of reference, at least one academic.
• Previous work experience (or internship) in the finance or accounting field is desirable but not required.

In addition to the above minimum criteria to apply, a high GMAT score is desirable but not required.

Admission to the graduate programs offered at the Adnan Kassar School of Business follows the LAU general graduate requirements.

Program Requirements

The MS in Finance and Accounting consists of 30 credits combining core coursework, electives, and a research component designed to provide both academic rigor and practical relevance.

To obtain the MS degree, students must complete a total of 30 credits composed of:

• Core Requirements (12 credits) 
• Elective Requirements (12 credits) 
• Research Thesis (6 credits) or
• Research Project (3 credits) and one additional elective course (3 credits) 

Core courses provide advanced knowledge in business finance, financial reporting and analysis, econometrics, and valuation analysis. Elective courses allow students to gain knowledge in areas such as investments, corporate finance, risk management, auditing, taxation, financial modeling, derivatives, and International Financial Reporting Standards.

Core Requirements (12 credits)

Elective Requirements (12 credits)

Finance Electives

Accounting Electives

Supporting Electives

Research Component

Thesis Option (6 credits)

Project Option (3 credits)

Program Goals and Outcomes

Courses 

FIN 813 Econometrics [3-0, 3 cr.]
This course takes an empirical approach in covering statistical techniques that are commonly used to analyze financial data. The objectives of the course are to highlight the steps that must be taken when building a statistical model, and to develop the skills that are needed in conducting empirical research in finance and accounting. The topics of the course are: (1) classical linear regression models; (2) univariate and multivariate time series; (3) modelling prices, returns, and/or volatility.

FIN 810 Business Finance [3-0, 3 cr.]
This course introduces students to corporate finance principles and applications. It covers the following topics: (1) Financial Statements; (2) Cash Flow Estimation; (3) Time Value of Money; (4) Capital Budgeting Methods; (5) Valuation of Bonds and Stocks; (6) Risk and Return; and (7) Cost of Capital.

FIN 822 Advanced Corporate Finance [3-0, 3 cr.]
This course helps students develop a solid and systematic understanding of corporations’ financing and investment decisions. It covers the following topics: (1) Capital Budgeting and Investment Decisions; (2) Risk and the Cost of Capital; (3) Project Analysis and Real Options; (4) Corporate Governance; (5) Dividend Payout Policy; (6) Capital Structure; and (7) Mergers.

FIN 824 Derivatives [3-0, 3 cr.]
This course discusses the framework for understanding and pricing plain vanilla derivatives and their application to financial risk management. It covers the following topics: (1) Basic Properties of derivative securities; (2) Mechanics of Futures and Options Markets; (3) Speculating and Hedging strategies using derivative securities; (4) Pricing Forwards and Futures; (5) Stock Option properties; (6) Binomial Trees; (7) Black and Scholes Option Pricing Model; and (8) Greeks and Hedging.

FIN 826 Investments [3-0, 3 cr.]
This course covers the fundamentals of investments. Topics include: (1) Security Markets; (2) Financial Instruments; (3) Efficient Diversification; (4) Asset Pricing Models; (5) Market Efficiency; (6) Behavioral Finance; and (7) Introduction to Financial Derivatives.

FIN 828 Risk Management [3-0, 3 cr.]
The course aims at developing the students’ ability to identify, assess, measure, monitor and control the risks associated with financial products and services. Designed as an intensive introduction for the understanding and implementation of procedures for credit, market, and operational risks, this course provides students with a deeper understanding of risk management.

FIN 830 Financial Modelling [3-0, 3 cr.]
This course provides sound knowledge of financial theory and models through quantitative techniques and simulations. The course concentrates on real-life applications of financial management and investments concepts. Topics covered include spreadsheet applications for (1) Financial Statement Analysis; (2) Time Value of Money; (3) Bonds and Equity Valuation; (4) Capital Budgeting; (5) Capital Asset Pricing; (6) Market Efficiency Tests; (7) Portfolio Evaluation; (8) Option Pricing Models; and (9) Factor Models.

FIN 815 Valuation Analysis [3-0, 3 cr.]
This course takes a practical approach in using methodologies to value and assess firms by means of financial statements and macroeconomic reports. The course covers aspects of strategic, accounting, financial, and prospective analysis. The course will include interactive lectures and short cases to illustrate the concepts and principles involved.

FIN 880 Special Topics in Finance [3-0, 3 cr.]
The course addresses special topics in Finance that are not covered in the proposed MS Finance and Accounting Curriculum. The course topic will vary. Topics may include Private Equity; Entrepreneurial Finance; Real Estate Finance and Valuation; and Energy Finance.

ACC 810 Financial Reporting and Analysis [3-0, 3 cr.]
The course focuses on developing solid understanding of key principles in accounting standards. The course provides understanding to the elements and presentation of financial statements. It is intended to provide understanding to the components of the financial statements and the use of financial information in decision-making. This course helps in analyzing and interpreting financial statement information and building better judgment about the performance of management. The aim is therefore to employ the main models and techniques used by analysts to extract and critically evaluate financial statements information in order to understand the financial health of the company, including corporate performance, risk, and the forecasting of earnings.

ACC 812 Auditing of Financial Statements [3-0, 3 cr.]
The course covers the entire auditing process, including auditing procedures, generally accepted auditing standards, standards related to attest engagements and the AICPA Code of Professional Conduct. In addition, it covers sections related to ethics, risk assessment, procedures for obtaining audit evidence and forming conclusions and issuing audit opinion(s).

ACC 814 Taxation and Law [3-0, 3 cr.]
The course provides graduate students with knowledge and skill level on US federal taxation, business law, business ethics and professional and legal responsibilities. It includes sections in relation to the formation of corporations, partnerships and their different tax schemes, allowances and exemptions.

ACC 816 Management and Cost Accounting [3-0, 3 cr.]
The course is designed to prepare graduate students to take quality business decisions. It provides key managerial accounting concepts and streamlines the development of the managerial decision-making skills. The course equips students with a solid understanding of the strengths and limitations of an organization’s accounting system, making them more intelligent users of these systems.

ACC 818 Advanced Accounting and Reporting [3-0, 3 cr.]
The course requires that graduate candidates have a strong knowledge of US GAAP, including concepts and standards for financial statements, typical items in financial statements, specific types of transactions and events, accounting and reporting for governmental and non-governmental entities, as well as not-for-profit organizations.

ACC 820 International Financial Reporting Standards [3-0, 3 cr.]
The course prepares students to understand and analyze a variety of financial and non-financial information issued by companies according to the international accounting standards rather than the US GAAP. It is important to emphasize that financial statements are not just numbers. A substantial amount of information is textual. The income statement, balance sheet and other “numbers” statements mean little without the many pages of notes that support them. The financial pages are also only a minor part of company annual report. In this course, we explain the reasons for and the content of non-disclosures. Financial information remains a highly significant part of the communication given by large companies.

ACC 823 Business Environment and Concepts [3-0, 3 cr.]
The course helps in understanding the business concepts and the significance of an accountant’s professional duties and responsibilities within the larger context of the business environment. Areas covered are corporate governance, economic concepts and analysis, financial management, information systems and communications, strategic planning and operations management. This course helps students to prepare and submit written communication responses.

ACC 880 Special Topics in Accounting [3-0, 3 cr.]
The course addresses special topics in accounting that are not covered in the proposed MS Finance and Accounting Curriculum. The course topic will vary. Topics may include recent mergers and acquisitions, fraud cases, practices of common corporate governance codes, and updates and amendments of accounting standards.

ECO 832 Applied Econometrics II: Time Series Data [3-0, 3 cr.]
The aim of this course is to introduce students to a comprehensive theoretical framework of time series econometrics and its applications. Topics covered include: (1) stationary univariate time series processes; (2) non-stationary processes; (3) multivariate processes; (4) systems of simultaneous equations; (5) cointegration and error-correction models.

ECO 840 Mathematical and Computational Models in Applied Economics [3-0, 3 cr.]
The course will introduce mathematical and computational modeling problems of applied economics. The course will cover optimization and dynamic models. The course will include implementing the models in the computer algebra systems GAMS and MATHEMATICA.

FIN 899 Research Thesis in Finance [6-0, 6 cr.]
This course entails applying research methods to a current finance-related topic. The thesis must incorporate the student’s hypothesis, test methods, test results, and conclusions in a report available to later researchers. In some cases, the faculty may authorize expanded research procedures resulting in a high-quality publication.

ACC 899 Research Thesis in Accounting [6-0, 6 cr.]
This course entails applying research methods to a current accounting topic. The thesis must incorporate the student’s hypothesis, test methods, test results, and conclusions in a report available to later researchers. In some cases, the faculty may authorize expanded research procedures resulting in a high-quality publication.

ACC 898 Research Project in Accounting [3-0, 3 cr.]
This course entails applying research methods to a current accounting topic. The project must incorporate the student’s hypothesis, test methods, test results, and conclusions.

FIN 898 Research Project in Finance [3-0, 3 cr.]
This course entails applying research methods to a current finance-related topic. The project must incorporate the student’s hypothesis, test methods, test results, and conclusions.

Typical Study Plan

Fall I (9 credits)

6 credits required courses
FIN 810 Business Finance (3 cr.)
ACC 810 Financial Reporting and Analysis (3 cr.)

3 credits from the following elective courses
ACC 823 Business Environment and Concepts (3 cr.)
ACC 816 Management and Cost Accounting (3 cr.)
FIN 826 Investments (3 cr.)
FIN 828 Risk Management (3 cr.)

Spring I (9 credits)

6 credits required courses
FIN 813 Econometrics (3 cr.)
FIN 815 Valuation Analysis (3 cr.)

3 credits from the following elective courses
ACC 812 Auditing of Financial Statements (3 cr.)
ACC 820 International Financial Reporting Standards (3 cr.)
FIN 822 Advanced Corporate Finance (3 cr.)
FIN 826 Investments (3 cr.)

Fall II (9 credits)

6 credits (Research Thesis) or 3 credits (Research Project)
FIN 898 / ACC 898 Research Project in Finance/Accounting (3 cr.)
FIN 899 / ACC 899 Research Thesis in Finance/Accounting (6 cr.)

3 credits (with Thesis) or 6 credits (with Project) from the following elective courses
FIN 824 Derivatives (3 cr.)
FIN 830 Financial Modeling (3 cr.)
ACC 818 Advanced Accounting and Reporting (3 cr.)
ACC 814 Taxation and Law (3 cr.)

Spring II (3 credits)

Research continuation
FIN 898 / ACC 898 Research Project in Finance/Accounting (3 cr.)
FIN 899 / ACC 899 Research Thesis in Finance/Accounting (6 cr.)

3 credits from the following elective courses
FIN 880 Special Topics in Finance (3 cr.)
ACC 880 Special Topics in Accounting (3 cr.)
ECO 840 Mathematical and Computational Methods in Applied Economics (3 cr.)
ECO 832 Applied Econometrics II: Time Series Data (3 cr.)

In the fall of the second year, students may choose to register for either the research thesis (6 credits) or the research project (3 credits). Both are normally completed within the two-year timeframe required for graduation. However, the research thesis may be extended for up to four semesters, and the research project for up to three semesters (excluding summer sessions), if needed.