Studies at University of Oulu 2016-2017

The University of Oulu offers study opportunities with a solid academic foundation ranging from 5-6 year degree programmes and master’s programmes to doctoral training. There are also several possibilities such as open university studies, executive training and continuing education for developing and maintaining skills and competencies.

In addition to a variety of student exchange programmes, international master’s degree programmes in English are offered in six fields of study, making the university an international study environment.

International Master's Programmes

Financial and Management Accounting, Master of Science (Economics and Business Administration), 120 ECTS

Profile of the Degree: 

The Master's Programme in Financial and Management Accounting (FMA) provides a master's degree of a high international standard and is ideal for applicants with a background in business studies, social sciences, education, natural sciences, mathematics or engineering. During the programme, the students develop proficiency in the analysis of accounting information, for the needs both of a company's internal decision-making and of the investors. Course modules reflect a recent trend in accounting towards the adoption of international financial reporting system and the growing need for management control and accounting of internationalised firms. Graduates have acquired the skills and knowledge needed in working for leading multinational corporations, audit firms or financial services industry. The programme also provides students with a solid foundation for further scientific research.

Courses Required for the Degree: 

Studies consist of four modules, each of which corresponds to 30 ECTS credits. The modules are scheduled for four semesters / two years (total of 120 ECTS credits).

See more: Course Structure Diagram for academic years 2015-2017.


Learning Outcomes: 

General Learning Outcomes

  • Analytical thinking and problem solving – our graduates are able to solve business and/or economic problems and make business decisions.
  • Disciplinary knowledge – our graduates demonstrate deep and coherent understanding of an academic field of study.
  • Business knowledge - our graduates demonstrate deep understanding of their own profession, and are able to use, process and analyze economic and/or business information.
  • Globally responsible leadership – our graduates are able to act as future generators of sustainable value for business and society.
  • Communication skills - our graduates demonstrate professional oral and written communication knowledge and skills appropriate for business situations.

After taking the master’s level studies in accounting the student will:

  • be able to apply the central research areas and theories of accounting in challenging assignments
  • be able to develop the analysis process of the financial information on the grounds of research results and theories  to assist in decision-making processes
  • be able to apply the theoretical foundations of firm valuation and financial statement analysis in diverse and dynamic decision-making circumstances
  • be able to apply the focal theoretical and empirical research results of auditing into the auditing process
  • be able to apply different theories of firm valuation to process of planning IFRS financial statements
  • have the capabilities to act independently and as a member of work community in challenging international financial assignments
  • be able to use the methods of cost accounting and select those methods based on  theoretical reasoning
  • be able to assess effects of management control systems on the organisation and on employee behavior
  • be able to use the focal research traditions of management accounting in thesis composition
  • have the basic knowledge that is necessary for scientific research and reporting.
Arrangements for Recognition of Prior Learning: 

The recognition of prior learning follows the main principles as defined by the University of Oulu.

More information: Recognition of prior learning (RPL)

Modes of Study and Teaching: 

The student studies full-time, corresponding to 60 credits per year. This equals to 1600 hours of student workload per year. The full degree (120 credits) can be completed in two years, studying full-time. The studies are carried out as contact teaching and learning tasks.

Language of Instruction: 


Examination Regulations, Assessment and Grading: 

Assessment methods and criteria for the studies: The degree-related studies can be completed based on the curriculum. This means that the student studies the basic studies, intermediate studies, advanced studies the curriculum contains, in accordance with the curriculum. The study units are primarily completed by attending examinations and with written assignments and they are assessed by the person responsible for the study unit. The assessment is often based on the grades of final exams and/or term papers. Also other assessment criteria are used. Study unit descriptions give more exact information on the assessment of study units. Master’s thesis shall be written as the final work in the degree. A Personal Study Plan (PSP) is compiled for each student, considering student’s prior learning.

Grading: (The University of Oulu Education Regulations 17§): a numerical scale 0-5 in whole numbers or verbal grading Pass or Fail is used in assessing a completed course. When assessing doctoral dissertations and licentiate’s theses, verbal grading kiittäen hyväksytty (Approved with Distinction), hyväksytty (Approved) tai hylätty (Rejected) can be used. In numerical scale zero stands for fail.

In determining the final grade for a study module, a credit-weighted average is utilized. The grades of Pro Gradu Theses and Diploma Theses shall not be considered when determining the average of advanced studies.

Occupational Profiles of Graduates: 

Graduates can work for example as chief financial officers (CFOs), controllers, auditors, financial analysts and consultants.

Access to Further Studies: 

After completing Master of Science degree in Economics and Business Administration the student is eligible to apply for Doctoral level studies.

More information: University of Oulu Graduate School (UniOGS)

Graduation Requirements and Final Project: 

In order to graduate, the student is required to have passed all the courses included in the degree, to have completed the master’s thesis and the maturity test in acceptable manner and to have handed out the degree certificate request according to the Oulu Business School graduation timetable.

More information: Graduation schedule for degree students

Qualification Requirements and Regulations: 

All education in the University of Oulu is based on the principles of the joint European credit transfer system (ECTS) which facilitates the transparency of education and the recognition of degrees at an international level. All degrees awarded from the University of Oulu are recognised by the Finnish Ministry of Education and Culture.

The Master of Science (Economics and Business Administration) degree provides qualification to use the honorary Finnish title of “ekonomi”.

Basic information

Level of the Degree: 
Master's Degree
Duration of Studies: 
2 years
ECTS Credits: 
Language of Instruction: 
Graduate Profiles: 
Financial Officer (CFO)
Financial Analyst
Location of Instruction: 
+358 (0)294 487784
sinikka.moilanen (at)


Applying Information: 
The master's programme is applied for through
Application Period: 
December 15, 2015 – January 29, 2016 (15.00 GMT +2)