Master in Financial and Management Accounting

University of Oulu

Program Description
EFMD Equis Accredited
AACSB Accredited

Master in Financial and Management Accounting

University of Oulu

Master in Financial and Management Accounting

In the world of international business, there is a growing need in financial and management accounting for professionals, who meet the requirements set by the firms operating in a global business environment. Department of Accounting and Finance at the Oulu Business School organizes a full two-year Master's programme in Financial and Management Accounting (FMA) that will give students the required skills and knowledge to work in firms having business relationships and operations in different countries.

Financial and Management Accounting

Financial accounting investigates the information and reporting systems of firms that are used by various interest parties outside of the firm. Management accounting develops and investigates information and reporting systems needed in the decision-making inside the firm. Scientific research in financial and management accounting focuses on the usefulness of the information provided by these reporting systems in different decision making contexts including the firm valuation, performance evaluation, pricing of the products of the firm, among others. A recent trend in financial and management accounting is the integration of local reporting systems towards the common international financial reporting system.

Master's Programme

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.


Why Choose Oulu?

Oulu Business School - International Students from Oulu Business School on Vimeo.

University of Oulu International Master’s Scholarship Scheme 2017-2018

Connected with the renewal of university strategy, the increased importance of internationalization and the introduction of tuition fees for non-EU/EEA citizens, the University of Oulu has assigned a significant amount of money for tuition scholarships for 2017 entry. The scholarships will be granted in the form of a tuition fee waiver. The tuition fee waiver awarded covers 100 % of the full tuition fee. Applicants can apply for the tuition scholarship as part of the admissions process.

University of Oulu Scholarship Scheme in more detail

The University of Oulu International Master’s Scholarship Scheme (IM Scholarship) provides scholarships to academically talented international students. The scholarship is aimed at students studying for a Master’s degree in the University of Oulu two-year International Master’s programmes. The scholarship covers the full international tuition fee. University of Oulu IM Scholarships do not cover living costs.

In order to retain the scholarship in the following year of study, a student must have completed 55 ECTS by the end of the previous academic year. If a student does not achieve this requirement during the first year of studies, they will be liable to pay the full international tuition fee for the second year if they wish to complete their Master’s degree programme. An exception to this rule can be made if a student has been granted approved leave from studies (e.g. due to serious illness).

Eligibility Requirements to Apply for International Master’s Scholarship

Applicants are eligible to apply for a University of Oulu IM Scholarship 2017-18, if they are:

  • Non-EU/EEA* citizens who do not have a permanent residence permit in Finland.

(Applicants not eligible for the International Master’s Scholarship are: 1) non-EU/EEA citizens who have a permanent residence permit in Finland, 2) EU/EEA citizens or comparable persons, 3) University of Oulu students who have been accepted to study BEFORE the academic year 2017-18.)

  • Eligible to apply for a Master’s degree programme at the University of Oulu for academic year 2017 – 18.
    • The applicant has obtained their first academic degree (Bachelor’s or equivalent) from a recognised institution of higher education.
    • The applicant proves a high level of proficiency in English language. Approved methods of demonstrating language proficiency.

Applicants who are in their last term/semester of studies for their first academic degree during the application period, can apply for the scholarship. Applicants who receive a conditional offer of study placement for a Master’s programme will receive a conditional scholarship offer.

The scholarship application will be processed in the selection procedure only if the applicant meets the admissions criteria.

*European Union / European Economic Area member states are: Austria, Belgium, Bulgaria, Cyprus, Czech, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein Republic, Denmark, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and United Kingdom. With the EU legislation, Switzerland is also comparable for EU member states.

The nature of residence permit is indicated in the residence permit with a letter. A permanent residence permit bears the letter P or A and an EC residence permit for third-country nationals with long-term EC resident status bears the letters P-EY.

Application for International Master’s Scholarship 2017-18

There is no separate application system for the International Master’s Scholarship. All applicants for University of Oulu Master’s degree programmes need to complete the Student Application Form. Those applicants who are applying for the University of Oulu International Master’s Scholarship have to additionally complete the “Application for Scholarship,” section which can be found at the end of the Student Application Form. The International Master’s Scholarship application section cannot be completed and/or submitted without the Student Application Form.

The application period for the University of Oulu Master’s degree programmes and International Master’s Scholarships is 15.12.2016-25.1.2017

Selection criteria for University of Oulu IM Scholarship 2017-2018

Admissions and scholarships decisions will be taken at the same time. Those students successful in obtaining an International Master’s Scholarship will be notified at the same time as their offer of admission to their International Master’s programme is confirmed. The selection criteria for the University of Oulu IM Scholarship are based on previous academic performance and academic potential.

For questions concerning the University of Oulu IM Scholarship, please contact admissions.officer(a)

This school offers programs in:
  • English

Last updated October 21, 2016
Duration & Price
This course is Campus based
Start Date
Start date
Sept. 2017
2 years
Full time
12,000 EUR
Contact school
Start date Sept. 2017
Finland Oulu
Application deadline Contact school
End date Contact school
Duration 2 years
Price 12,000 EUR
(for non-EU/EEA students, see Scholarships and Fees)