Finance and Accounting – (B.Sc.)

The degree in Finance and Accounting aims to train professionals who will follow a career in the areas of investment analysis and management, banking, auditing, management and financial consulting and also provide a base for those wishing to do postgraduate studies in this field. It is a general qualification in the area of finance and accounting, with a clear professional focus, providing specific training in finance and accounting, together with a solid grounding in related areas, such as economics, business economics, quantitative methods, computing and law.

The labour market requires professionals with greater specialization in finance and accounting- a specialization which requires, or will require in the near future, professional certification. Hence, on the one hand, there is a trend towards the regulating of professional activity in the financial area. Directive 2004/39/CE, approved on April 21st 2004 by the European Parliament and Council and Financial Instruments Markets, stipulates certain requirements for those working in the area of financial consulting and regulates personal financial consulting as an investment service.

The directive gives special treatment to financial analysis, defined as an auxiliary activity not only in this directive but also in the Market Abuse Directive-MAD. Financial analysis is regulated, with special relevance to the supervision of analysts, their pay and participation in other investment activities. This change will lead to far-reaching reforms in the current legislation regarding financial consulting, strengthening the control of access to the activity of the financial agent and defining transparency obligations. Professionals who wish to acquire this certification must demonstrate their knowledge of economics, financial accounting, quantitative methods, corporate finance, financial assets and instruments and ethical and professional standards.

On the other hand, it is clear that in the area of accounting there is a trend towards more demanding requirements on the part of regulators. There is currently a demand for professionals with thorough knowledge of the implications of international financial reporting standards (IFRS), which have been compulsory for groups of listed companies since 2005, and of the recent approval of the new General Accounting Plan, which introduces, among other things, the adaptation of Spanish accounting standards to international standards and is obligatory for all trading companies. Recent developments in accounting regulations mean that professionals in this area must have a solid knowledge of finance. The main changes introduced in the rating standards oblige accountants to apply rating methods from finance to a considerable number of the company´s assets and liabilities.

Finally, this degree will train professionals who are able to design accounting systems and generate external and in-house accounting reports, and who can respond to the demands of companies requiring professionals in the area of budget control, financial management, cost management, and company accounts. We should also point out that there is an increasing demand for experts in accounting who are able to assess risk and profitability for the company. Reciprocally, the expertise of professionals working in financial management can hardly be understood if not accompanied by in-depth knowledge of company accounting. Equally, graduates who pursue a career in investment analysis and consulting will need knowledge of finance in a way that is closely linked to knowledge of accounting.