Masters in International Accounting and Finance
Designed for students wishing to gain and further develop an in-depth understanding of the role of finance and accounting in the contemporary and globalised commercial environment.
At a glance
- Hands-on teaching and learning will equip you with leadership skills and set the foundations for working in capital markets and international finance
- Designed to create forward-thinking, proactive leaders, who understand the bigger picture of accounting, to make informed decisions and utilise new opportunities
- Specifically aimed for students with either an academic or a professional background in accounting
- Benefit from professional exam exemptions from the Chartered Institute of Management Accounting (CIMA) and ACCA Accreditation
- With a blend of theoretical and practice-led content, you will learn to develop conceptual and theoretical perspectives of accounting and financial practices in an international context
- Our masters graduates secure positions at prestigious employers worldwide, earning competitive salaries. Explore our graduate outcomes.
- Locations
- Henley Whiteknights
- Subject area(s)
- Accounting
- Start Date
- September 2025
- Duration
- 12 months
- Attendance
- Full-time
- Programme Directors
-
Dr Ekililu Salifu
Dr Renata Stenka
Overview
This Masters programme has been developed as a collaboration between our Business Informatics Systems and Accounting (BISA) department and the International Capital Market Association (ICMA) Centre. The course is suitable for accounting graduates.
What it gives you
This Masters degree helps you to deepen your knowledge of accounting and finance. It is designed to help you enter the financial markets or advisory/financial services industry, as an analyst or professional accountant. This MSc degree can also serve as a preparation for further research at PhD level.
With a blend of theoretical, and practice-led content, you will learn to develop conceptual and theoretical perspectives of accounting and financial practices. It will also enable you to understand the role of information systems within those processes. Our modules are developed from an internationalised perspective, ensuring that you not only gain insight into topical discussions within the UK but also from all around the world.
The Henley pre-study course suite
Exclusively available to Henley Business School offer holders, the Pre-study course suite comprises of innovative short courses designed and developed by Henley faculty on the Futurelearn platform, one of the leading online learning platforms.
Building blocks of finance (-)An innovative short course designed and developed by Henley faculty on the Futurelearn platform, one of the leading online learning platforms. Read moreThis pre-study interactive course is designed by ICMA Centre faculty to prepare you for your learning journey at Henley if you are undertaking postgraduate study in any finance-oriented subject. Through the course, you will appreciate the purpose of finance and investment, the main types of investment and financial markets, as well as the process of valuing investments and the role of risk and return in investment performance. These are all important fundamentals in understanding the workings of financial markets and being able to apply them to real and practical problems as part of your course. We encourage you to take the course even if you have studied finance before. The course is delivered online, requires around 15 hours of study and can be completed at your own pace. |
N/A |
Building blocks of maths and stats for finance (-)This pre-study interactive course is designed by ICMA Centre faculty to prepare you for your learning journey at Henley if you are undertaking postgraduate study in any finance-oriented subject. Read moreQuantitative techniques and statistics are among the main tools finance and investment professionals utilise in analysing data linked to financial markets and securities. This interactive pre-study course is designed to deliver these essential building blocks in maths and quants and prepare you for a Finance Master’s if you don’t have a finance, maths, or quants background. For those with a relevant background, it can serve as a refresher of this essential knowledge. |
N/A |
Study skills for success (-)This course will provide building blocks of knowledge to help you prepare for your learning journey in the area of your choice as well as equip you with key employability and study skills for successfully navigating your studies and professional career. Read moreThis pre-study interactive course is designed by Henley Business School faculty, the University of Reading Study Advice Team and the International Study and Language Institute. The course aims to prepare you for your learning journey at Henley and focuses on helping you build important study skills to succeed in your Masters and beyond. Skills such as curiosity and independent thinking, effective communication and collaboration, digital capabilities, storytelling, empathy and professional integrity are not only important in your course itself but are also sought after by employers in all areas of business. Therefore, they are instrumental in succeeding in your professional career. The learning journey of our Masters programmes is designed in a way that allows you to build such skills and this course intends to demonstrate exactly how, and therefore help you to make the most of your Masters. |
N/A |
Semester 1
| Compulsory modules | Credits |
|---|---|
International Financial Reporting and Regulation (ACM006)The main aim of the module is to enable students to understand and critically evaluate the mapping between underlying economic events and the information in financial statements, and how this mapping affects inferences about the economic activities and position of the firm. The curriculum puts a strong emphasis on the wider social and political implications of financial reporting practice. Students are encouraged to relate economic events to diverse practices in financial statements, and to think critically about ongoing controversies and debates. International Financial Reporting and Regulation Academic authors
Dr Ekililu Salifu
|
20 [10 ECTS credits] |
Investments (ICM401)The module aims to equip students with the main principles of Investment Theory. It begins with an overview of the interaction between users and suppliers of capital and the theory behind investor behaviour towards financial risk and reward. |
20 [10 ECTS credits] |
Financial Securities and Markets (ICM402)This module focuses on fixed income and equity securities evaluation and provides an introduction to international financial markets and an overview of financial institutions. |
20 [10 ECTS credits] |
Semester 2
| Compulsory modules | Credits |
|---|---|
Management Accounting: Theory and Practice (ACM003)Management accounting is a collection of diverse techniques used to measure and analyse the resources, processes and outputs of organisations. While it is important to understand the techniques, it is equally important to study how those techniques are used. A good understanding of costing techniques is assumed as the module explores beyond these to their application in practice and questions their use(s) and role(s) in organisations from a theoretically informed perspective. Much of the research in management accounting and sustainability explores the role of the management accountant and the application of management accounting techniques in practice, through a variety of theoretical lenses. The module will draw on published case studies to analyse contemporary management accounting in practice. Academic authors
Sue Blackett
|
20 [10 ECTS credits] |
Accounting for Sustainability (ACM008)
Academic authors
Dr Maggie Cooper
|
20 |
Financial Management: Cases and Excel Modelling Applications (ACM016)This module aims to develop knowledge, understanding and skills in financial reporting, management accounting, business finance and finance technology (Excel modelling) through their application to real-world business problems and case study scenarios. Academic authors
Dr Dan Zhou
|
20 |
Semester 2 - Options
Students must choose 20 credits
| Optional modules | Credits |
|---|---|
Accounting Information Systems (ACM005)The aim of this module is for students to understand the key concepts in data and information management and to be able to critically assess the role of information systems in accounting and finance, including governance, risk and compliance activities within firms. |
20 [10 ECTS credits] |
Derivative Securities: Pricing, Hedging and Trading (ICM211)This is a very practical course focusing mainly on option/volatility trading and risk management. The seminars all take place in the dealing room, and students will manage the risk of equity options portfolios on ICTrader. There are also 4 practical Excel based case studies (Option Strategist) which focus on option value and risk analysis. Academic authors
Dr Michael Smith
|
20 [10 ECTS credits] |
Behavioural Finance (ICM302)This module is positioned in the cross-section of Finance and Psychology. It provides an alternative framework to that of traditional neo-classical finance principles in explaining market behaviour and interpreting stylised characteristics. A variety of psychological principles and well-established cognitive biases are examined and connections are made with the influence they have on the investment (and corporate) decision making process. Market anomalies and puzzles are interpreted based on these connections. |
20 [10 ECTS credits] |
Investment Portfolio Management (ICM340)This investment portfolio management module covers key topics, techniques and discussions, including investment styles, in relation to constructing and maintaining an optimal investment portfolio. The teaching approaches all topics from academic and market, practical perspectives. More detailed aims and learning outcomes are included below. |
20 [10 ECTS credits] |
AI and Data Analytics in Business (INMR81)The aim of this module is for students to be able to evaluate the business value in utilising AI and data analytics and develop business technology solutions with an appreciation of AI and data analytics methods and technologies. Read moreThis module focusses on the methods and techniques of using AI and data analytics in business. Given the availability of large amounts of data in business and organisation, there is an increasing need for organisations to assess how effectively AI and data analytics can be utilised for business. In this module, students consider how organisations can benefit from AI and data analytics, and analyse business and technological requirements to create value though AI and data analytics. Students will also explore recent developments in technologies surrounding AI and data analytics such as machine learning, text analytics, cognitive analytics and visualisation, and assess types of tools that can be utilised, including the use of state-of-the-art analytics tools. Academic authors
Professor Keiichi Nakata
|
20 [10 ECTS credits] |
Summer
Students must choose 20 credits
| Optional modules | Credits |
|---|---|
Advanced Finance Theory with Empirical Applications (ICM289)This module is designed for advanced Master’s students and doctoral students. It has a very high technical content. It aims to equip the students with the foundations of theoretical asset pricing and with the relevant skills for performing empirical tests. The objective of the module is to prepare students to become independent and quality researchers. Academic authors
Professor Marcel Prokopczuk
|
20 [10 ECTS credits] |
Stock Index Futures (ICM308)The aim of this module is to give students an understanding of the very large and important global financial markets in futures on national stock market indices. Academic authors
Professor Charles Sutcliffe
|
20 [10 ECTS credits] |
Work Placement and Project (ICM309)This module gives students the opportunity to pursue a work placement with an external organisation broadly related to the general sphere of their degree studies. The aim of the module is to allow participants to gain work experience in a career path of interest, develop a wide range of employability skills, build their network and enhance market awareness. |
20 [10 ECTS credits] |
Alternative Investments and Structured Products (ICM613)This module aims to provide students with an understanding of financial decision making in the context of alternative investments and to introduce the key principles and techniques of financial engineering used in structured product design. |
20 [10 ECTS credits] |
Basket A
Students must choose 20 credits from Basket A
Corporate Governance & Ethics (ACM001)This module provides students with a critical understanding of contemporary issues in corporate governance and accountability, with a focus on the need for ethical corporate conduct. The module begins with a review of corporate governance theories and development of codes and regulations, in the wake of ongoing corporate scandals. The key roles of institutional investors, board effectiveness, non-executive directors, executive remuneration, risk management, internal control and transparency in achieving good corporate governance are evaluated. An international comparative perspective enables students to evaluate a range of different corporate governance systems around the world. The evolving concept of holistic governance and the broader context of corporate governance, including the increasing need for stakeholder accountability, are examined. Illustrations from real-world practice and reference to a wide range of academic research are core elements of this module. Students are encouraged to explore how corporate governance and accountability may be enhanced and a more ethical business environment nurtured. Academic authors
Rhianydd Dow
|
20 [10 ECTS credits] |
Accounting and Finance Project (ACM013)This module aims to provide an opportunity for students in PG programmes to develop relevant skills to manage an independent research project, in terms of critical evaluation of existing literature, and appropriate collection and analysis of accounting and finance information. The completion of the project will be guided and supported by supervisors with relevant expertise in accounting, financial management and business analytics. |
20 [10 ECTS credits] |
Accounting Dissertation (ACM012)To give students an awareness of the appropriate use of methodology, theory, data, literature review, and original research in a Masters dissertation. To enable students to produce a piece of original research that would contribute to the relevant body of knowledge within accounting, financial management and/or business analytics. |
20 [10 ECTS credits] |
Modules or course content marked as optional are indicative and may be subject to change. Please note, constraints in timetable scheduling may mean you are unable to take some optional modules at the same time as others.
A holistic approach
Effective leadership requires more than first-class business acumen, it also requires a degree of self-awareness and sensitivity. Our Masters programmes offer you a unique practice-centred approach to teaching equipping you with the tools to become a compelling leader. This approach creates emotionally intelligent graduates who can be fully effective in their chosen careers.
How you will learn
Henley has a strong reputation for the practical application of business ideas and concepts. We are underpinned by academic excellence and the strength of our research. We offer high-quality technical skills training as well as a deep understanding of the importance of personal development for leaders. This is a thread that is woven through all of our Masters programmes.
Our Masters programmes feature a mix of core and optional modules, tailoring your degree towards your needs and career ambitions. You will complete up to 10 taught modules during your programme, totalling 180 credits. One module usually equates to 20 credits or 10 hours of work per week. Your week will include lectures, tutorials, workshops and personal study, with each accounting for 25% of your time on average. This provides you with the opportunity to discuss and explore the material in depth with your lecturers and fellow students.
You will be introduced to the latest thinking and research findings then have the opportunity to challenge those that have created it. You will also explore real-world issues, tackle current business challenges, and interact with guest lectures and speakers from industry. This gives you the opportunity to test, extend and refine your knowledge and skills with confidence.
How we assess you
You will learn and be assessed through a wide variety of teaching methods which vary depending on your chosen Masters programme. These include online materials and multimedia content, guest lectures, individual and group assignments, case studies, field visits, dealing room simulations, presentations, applied projects, consultancy work and examinations.
On average examinations form between 50 - 70% of the assessed work. The remaining comes from coursework, in class tests, written dissertation or project depending on your chosen programme.
Ongoing support
While Masters students are self-motivated and determined individuals, study at this level can present additional pressures which we take seriously. Lecturers are available to discuss the content of each module and your academic tutor can meet with you regularly. Support staff are here to help with anything that may arise during your time at Henley.
UK/Home
| Year of Entry | Cost |
|---|---|
| 2025 | £15,500 |
International (incl. EU)
| Year of Entry | Cost |
|---|---|
| 2025 | 28,500 |
Scholarships
Scholarships are now available for 2025 entry Masters programmes. Henley is proud to have supported over 170 postgraduate students with scholarships for 2024 entry. For more information on our 2025 Scholarships programme visit our scholarships webpage.
| Entry requirement | Criteria |
|---|---|
| Undergraduate degree | A good second class honours degree or the equivalent from an Internationally recognised University |
English Language Requirements
Studying in a second language can be challenging. If your English language ability is below the minimum requirement, we may ask for evidence of proficiency. Alternatively, we may ask you to attend an English language course before you begin your studies with us.
| Requirement | Criteria |
|---|---|
| IELTS | 6.5 with no component below 5.5 in any sub-skills |
Pre-sessional English Programme
The Pre-sessional English Programme is for international students who need to meet their degree programme English language requirements. Our courses equip you with the skills and language needed for academic success, including critical thinking, self-reflection, learner autonomy, research skills and integrating sources. The Pre-sessional English Programme is accredited by the global association of Lecturers in English for Academic Purposes, which guarantees you will receive a high-quality student experience.
Find out about our comprehensive range of Pre-Sessional English courses
Acceptance of LanguageCert Online and DuoLingo English qualifications
We accept the non-SELT version of LanguageCert (which includes the online version) and DuoLingo as suitable English language qualifications. These can be accepted for direct entry onto Undergraduate (except Speech and Language Therapy), Postgraduate Taught (except Speech and Language Therapy) and Postgraduate Research programmes.
For information on individual programme requirements and other English language qualifications, please visit our English requirement equivalent page.
If you require specific advice on your qualification please contact admissions directly by e-mail or telephone at +44 (0) 118 378 5289.
UK visa requirements
If you are not a national of the European Union (EU), you may need to obtain a UK visa. This visa will allow to live and study in the UK. See the UK Border Agency website. Contact the University's International Office with any questions: intoff@reading.ac.uk.
Graduate Route
The UK's Graduate Route post-study work visa allows you to apply to stay in the UK for up to two years after you graduate, with the opportunity to undertake skilled work. Visit the University website for the latest information.
How can Henley Careers work with you?
We have an award-winning careers team that will support you through your postgraduate studies and four years after graduation.
Here is how Henley Careers can help you:
- Careers Consultant appointments: Our Careers Consultant are here to help and support you with any careers related concern that you might have. Whether it’s CV advice, practicing for an interview, providing feedback if applications aren't successful or support planning your career goals. We are here to help empower you to progress in your career.
- Events: Henley Careers organise numerous events aimed to help you build your confidence, develop the skills employers are looking for. Additionally, network with employers and expand your industry knowledge.
- Alumni support: You can continue to book one-to-one appointments with your Careers Consultant and use our online resources. For up to four years after graduating we’re here to help and support in your career.
- Career Smart: Get a head start in securing a graduate job by taking part in our online course, Career Smart. You can expect to learn about the graduate recruitment cycle in the UK. As well as where to look and how to start applying to jobs, and the different roles available to you.
For more information please see our Careers page.
Continuing your career
This degree will help you enhance your employability for careers related to your first-degree discipline or in more specialised accounting and finance fields. The global perspective of this course can help enhance your career prospects in international roles and overseas markets. In addition, the programme will serve as a good basis if you wish to further your academic development in accounting and finance-related disciplines.
Accreditation Information
On successfully completing our MSc International Accounting and Finance programme, students will receive significant exemptions from CIMA professional examinations, resulting in a fast-tracked route to the Strategic Level of the CIMA qualification Framework. With an MSc in International Accounting and Finance, you will receive 11 exemptions (from the 15 CIMA qualification exams). You would then take the Management Level Case Study Exams which will lead to the award of CIMA’s Advanced Diploma in Management Accounting (CIMA Adv Dip MA).
Students will also be exempt from four ACCA applied knowledge and applied skills exams: Business Technology (BT), Management Accounting (MA), Financial Accounting (FA) and Corporate and Business Law (LW).
Apply for 2025 entry now
Apply online now through the University of Reading’s online application service.
The online application service allows you to complete your application information, attach electronic copies of your academic transcripts, certificates and other supporting information. It also provides a facility for an email request to be sent to your referees. This enables the referees to send your supporting references directly to us.
When to apply
We operate a rolling admissions system and it is recommended that you apply early to secure your place. There is no specific deadline and applications will be considered until the programme is full. However, to allow us time to process your application we recommend that you apply by the following dates:
| UK/Home applicants | International applicants |
|---|---|
| 1 August | 1 July |
After you apply
You will receive a confirmation email when we receive your application form. Your application is then reviewed by a member of staff. If successful, you will receive a formal offer letter outlining any necessary entry criteria you will need to meet. You'll then be asked to confirm your acceptance of this offer.
If you require a Certificate of Acceptance for Studies (CAS) for your visa, details will be sent by email once all conditions of the offer have been met.
Throughout the admissions process we will keep you updated with key information via email. We also provide opportunities to interact with faculty and staff online.
Find us on Facebook and keep up-to-date with news and events at Henley or ask us a question. In addition, you can speak to a current student, our students are always happy to share their Henley experience.
Our students and alumni are always keen to share their Henley experience. Whether you are a prospective applicant or already applied to a Masters programme at Henley Business School. You can ask questions to a current student by clicking the “Chat to our students” button below.
When contacting one of our students, please introduce yourself and the Masters programme you have applied for.
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Contact us
If you have any questions, please contact us by email at postgraduate@henley.ac.uk or by phone on +44 (0)118 378 7593.
“I found that the international business class was extremely useful as I learned how to interpret different pieces of data from around the world and use them in one general accounting language.”
“I really enjoyed the marketing module, especially the scenario game. It has given me a better understanding of how a product is marketed, positioned and priced and made me feel like I was in the marketing department discussing product solutions…”