Master in Economic-Financial Management
Centro De Estudios Financieros CEF
Key Information
Select location
Campus location
Madrid, Spain
Languages
Spanish
Study format
Distance Learning, On-Campus
Duration
12 - 18 months
Pace
Full time, Part time
Tuition fees
EUR 7,990 / per course *
Application deadline
Request info
Earliest start date
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* face-to-face and telepresence modality; €5,460 - online modality
Introduction
The current economic and financial situation, increasingly complex and globalized, poses a problem whose resolution requires professionals with in-depth technical and practical knowledge. Given the importance that business management has been acquiring in contemporary social organization, this degree aims to contribute to the training of managers in the business world, providing a high level of theoretical and practical knowledge that allows professionals to manage financial-accounting activities. of the company and design the planning of financial strategies, the supervision of the areas of Accounting and Management Control and Treasury, as well as the repercussion of the tax system on the planning and strategy of the company, combining the areas of specialization necessary for a professional of finance with the development of essential skills in any manager.
official degree
Students who meet the UDIMA requirements will obtain the University Master's Degree in Economic-Financial Management given by UDIMA, in addition to the Professional Master's degree issued by the CEF.
Ideal Students
Addressed to
The Master's Degree in Economic-Financial Management is multidisciplinary in nature in the field of teaching in Law, Economics and Business, belonging to the branch of Social and Legal Sciences, and is preferably aimed at those students who have completed, within this branch, any of the following bachelor's, diploma or degree qualifications in:
- Economic Sciences
- business Studies
- Accounting and Finance
- Business Management
- Commercial Graduates
- And others of similar name.
Without prejudice to this, graduates from other courses that are linked to the Area of Economics and Business and come from the branches of Legal and Social Sciences and Engineering or Architecture may access the Master's Degree, after completing training complements that reinforce knowledge related to Financial Accounting, Financial Mathematics and Business Economics.
Admissions
Curriculum
Higher Accounting Module
Higher Accounting. Study of the Different Alternatives
- Accounting for financial instruments. Hybrid and derived elements.
- Accounting for tax figures that affect the company.
- Business combinations within the framework of business restructuring. The emergence of goodwill and the displacement of debts in business acquirers.
- Accounting in the processes of transformation and extinction of companies, alternatives to dissolution situations. Participatory loans.
- Accounting in bankruptcy situations.
- Study of sectoral adaptations.
Organization of Production and Costs for Decision Making
- Analysis of internal transfer prices between the different organizational units into which the company is divided.
- Study of the consequences of underactivity and its repercussions on the calculation of the cost of the product/service for the purposes of stock valuation and profitability analysis.
- The study of opportunity costs, the imputation of the costs of financial resources to production factors, as well as the study of order costs.
- Warehouse valuation. Analysis of the different imputation criteria.
- Costs in the decision-making process. Capacity and cost-volume-profit analysis.
- Analysis of exploitation decisions versus investment decisions.
- Production decisions at low and high capacity.
- Study of limiting factors of production.
- Study of cost by activities, study of the ABC model, with special reference to M. Porter's value chain.
Analysis and Control Module
Analysis of Economic-Financial States and their Impact on Business Decisions
- Advanced study of value creation as the axis on which business activity pivots. Role that financial markets play in the financing of companies. Detail of the modalities of direct or indirect financing in the financial system. Purpose of corporate finance.
- Specialized balance sheet analysis techniques. Business implications of the particular case of the financial or management balance sheet. Impact of excessive debt on economic-financial management.
- Specific study of the differences between the functional profit and loss account and the profit and loss account of the General Accounting Plan: specific problems of the treatment of extraordinary results and the disaggregation of financial results.
- Study of the main profit measures (EBITDA, cash flow as magnitude, results from and applied in operations, OIBDA, NOPLAT or BAIDI and EBITDAR) and their relationship with value creation indicators [economic added value (EVA), profit economic (BE), market value added (MVA), cash value added (CVA), cash flow return on investment (CFROI) and total shareholder return (TSR)].
- Differentiation between the concept of operational needs of accounting funds and operational needs of real or objective funds of the company.
- Financing strategies for operational fund needs.
- Profitability according to the different perspectives existing in the company: margin on sales, profitability of total assets, profitability of invested capital, profitability of capital employed, profitability of net assets, profitability of business assets, the profitability of the business assets and the financial or shareholder profitability.
- The components of invested capital (ROIC, RONA and ROCE).
- Development of economic and financial strategies in the company based on the integrated analysis of the financial statements.
- Analysis of consolidated economic-financial statements.
Strategic Planning and Management Control
- Study of the strategic planning and management control process.
- Develop a company management control system, study the different processes.
- Study of the budget process and budget preparation. Analysis and control of the budget process, analysis and control of budget deviations.
- Study of the control of operational and innovative activities and control of decentralized companies.
- Control of the company's financial management, as well as risk control and management.
- The control of human resources.
- Study of the procedure for preparing the balanced scorecard.
- Study of the role of the “controller” within the organization.
Preparation and Presentation of Economic-Financial Reports and “Reporting”
- Study of the different financial reporting models.
- How to write the report in the “reporting” of the economic-financial statements.
- How to communicate the balanced scorecard.
- Study of financial reporting according to the different recipients: internal and external financial reporting.
Finance Module
Analysis and Management of Financial Resources
- Analysis of the functioning of the different markets and financial intermediaries.
- Comparative study of the different products offered by national and international financial markets, identifying the best conditions and profitability.
- In-depth study of the national and international financial derivatives market.
- Comparative analysis of the different options in the collective investment market.
- Study of the strategic planning of the management of different short-term financing.
- Comparative financial-fiscal study of financing for the acquisition of investment elements.
- Estimation of future rates based on different information from financial markets.
- Determination and measurement of financial risks both in the short and long term.
- Comparative study of interest rate hedging. Analysis of the convenience of debt coverage based on future rate estimates and based on the different characteristics of the different coverage products.
Treasury Management
- Analysis of possible alternatives for the placement of treasury surpluses.
- Learn to minimize financing needs and their associated costs.
- Preparation of strategic treasury management plans.
- Analyze the problem of obtaining profitability from treasury peaks in volatile financial markets.
- Determination and monitoring of interest rate and market risk.
- Treasury management in large groups of companies: cash pooling.
Structured Finance: Viability of Investment Projects and Corporate Finance
- Determination of the key elements when carrying out the valuation process, placing special emphasis on the concept of cash flow and its different modalities and its use in each case.
- Management of the most common technique in business valuation processes: the discounted cash flow (DFC) method.
- Study of the valuation methods used in “corporate finance” (DCF, Multiples).
- Venture capital operations: buy-outs (MBO, IBO, LBO, BIMB); venture capital.
- Knowledge of economic techniques that measure value creation: delving into the calculation methodology, interpretation, advantages and disadvantages.
- Quantification of the financial cost of debts, equity and the correct determination of the company's WACC.
- Analyze the appropriate choice of capital structure (external funds / own funds) for the sake of value creation.
- Construction of a financial model for business valuation.
- Project risk study: sensitivity analysis and simulation techniques (Monte Carlo methodology).
Foreign Trade Finance
- Knowledge and operation of payment and collection methods in international markets.
- Financing operations in international markets.
- Study of the impact of Incoterms on the selection of financing for international operations.
- Study of the “conforming” clause, documentary credits and confirmation clauses.
Legal-Fiscal Module
Business Law and its Impact on Economic-Financial Management
- Study of the specific and differential characteristics of the different corporate figures and their impact on economic and financial decisions.
- Critical analysis of capital increase and reduction operations, mergers and spin-offs from a commercial perspective and their implications on the structure and financial profitability of the company.
- Study of the obligations and rights that arise from the tax legal relationship.
- Study of tax application procedures, with special emphasis on tax management, inspector, collection and sanctioning procedures.
- Reaction of the tax law to non-compliance with the obligations of the tax administrator.
Advanced Analysis of the Company's Tax Management
- Detailed analysis of VAT and IS taxable events carried out in internal and intra-community operations, thus endorsing knowledge of taxes and their impact on business policies.
- Detailed study of the process of determining the amount of the main taxes that affect business activity and their deductions to advise on the possibility of temporary deferral of payment.
- Advanced analysis in corporate tax of the peculiarities of the compensation regime for negative tax bases in order to carry out temporary planning thereof.
- Planning and management in the payment of taxes with an in-depth analysis of the temporary allocation of income and expenses.
- Planning compliance with VAT and corporate tax obligations, integrating them into business growth policies.
Management Skills and Competencies Module
Management Development in the Economic-Financial Department
- Presentations: Public Speaking, development of linguistic skills, verbal and written communication, to transmit ideas and decisions with the professionalism and rigor that should characterize a finance professional.
- Negotiation techniques: Essential values and attitudes that a 21st century finance professional must possess, to try to resolve conflicts, inevitable in any social scenario, in a cooperative, negotiating and non-violent way.
- Manager's deontology: Deontological and corporate social responsibility behaviors typical of a manager in an environment with so much social impact, such as the financial one.
- Management of equipment, methods and techniques.
Subjects
- Higher Accounting. Study of the Different Alternatives
- Organization of Production and Costs for Decision Making
- Analysis and Management of Financial Resources
- Foreign Trade Finance
- Business Law and its Impact on Economic-Financial Management
- Advanced Analysis of the Company's Tax Management
- Management Development in the Economic-Financial Department
- Analysis of Economic-Financial States and their Impact on Business Decisions
- Strategic Planning and Management Control
- Preparation and Presentation of Economic-Financial Reports and "Reporting"
- Treasury Management
- Structured Finance: Viability of Investment and Corporate Finance projects
- External Practices
- Master Thesis project
Career Opportunities
Job Board
The Job and Entrepreneur Exchange is a free service offered to both students and alumni of CEF.- UDIMA as well as companies that wish to fill positions in different functional areas, with the aim of creating a mutual interrelation. It has offices in Barcelona, Madrid and Valencia from which national and international offers are managed.
The Job and Entrepreneurs Exchange offers professional guidance and information for employment and is a magnificent source of recruiting professional profiles at any level of the company, from interns in training practices to senior profiles, including managers and technicians. To facilitate searches, it has its own employment and internship portal.
As an example of its projection, CEF.- UDIMA has signed more than 4,000 agreements with national and international collaborating companies from all business sectors.