Master in Financial Managment

ENAE Business School

Characteristics of the training programme

Collaborating entity: ENAE Business School

Number of credits: 60 ECTs

Mode: Online

Language(s) Taught in: English

Aimed at: University students and working professionals with a university degree that qualifies them to study a Master’s Degree in Financial Management.

Aims: To train professionals in the different key areas in the financial management sector.



Module 1: Advanced Financial Management (6 ECTs)

  • Importance, characteristics and structure of basic financial statements.

  • Financial analysis and its methods.

  • Vertical methods

  • Horizontal methods

  • Economic value added

  • Interpretation of financial analysis 

  • Financial diagnosis of the company

  • Concept of leverage

  • Operational leverage. 

  • Financial leverage.

  • Total leverage

Module 2: Advanced Management Accounting (6 ECTs)

  • Cost classification

  • Integration of industrial cost elements

  • Full cost models

  • Variable cost models

  • Relevant costs in decision making

  • Special order decisions

  • Relevant costs in an international environment

  • Characteristics of balance scorecards

  • Examples of balance scorecards in international companies

Module 3: Strategic Financial Management (6 ECTs)

  • Venture Capital and Private Equity

  • Corporate finance

  • Financial Planning

  • Sustainable Business Planning

Module 4: International Economics (6 ECTs)

  • International trade under perfect competition

  • Economies of scale, production, trade and FDI

  • Balance of payments (autonomous learning competence)

  • Exchange rates and foreign exchange markets

  • International institutions in the global economy

Module 5: Financial Ethics (6 ECTs)

  • Ethics as a professional function

  • Ethics as corporate social responsibility.

  • Ethical banking

  • Microfinance activity and its ethical dimension:

  • An effective corporate culture as a mechanism of integrity in the behaviour of employees.

Module 6: Advanced financing models in entrepreneurial ecosystems (6 ECTs)

  • Importance of financial management in Startups

  • Financial notions for entrepreneurs

  • Introduction to Financial Statements

  • Classical sources of financing 

  • Alternative sources of financing

  • Barriers to financing a startup: Stages

  • Tips and alternatives for financing and bank negotiation

  • Practical Case: Financing model “Entrepreneur Startup IA

Module 7: Final Master’s Thesis (TFM) (24 ECTs)