Master's Degree Programme
| About the programme Language: English (See language requirements) | Place of study: Aarhus | Commencement: August / September (no winter intake) |
Management Accounting – also known as Management Control – is a fundamental aspect of business administration. Management Accounting is the primary language of business, and it creates the foundation for discussions of a company’s financial performance, as well as the non-financial dimensions of performance. Hence, Management Accounting is the sweet spot where numbers and data meet management and decisions.
Working with measurement and evaluation systems, the provision of incentives and adjustments of behaviour hold the potential for controlling cost and performance at all levels within an organisation, and thereby ensure value creation. You will be able to create transparency and financially sound solutions for a company by developing and analysing performance, cost and profitability. This skillset allows you to identify and solve potential strategic and operational problems in companies/organisations (private and publicly traded companies, governmental organisations, municipalities, hospitals, etc.) To deal with these problems, you will learn how to design and implement incentive, budgeting and performance management systems to coordinate and motivate departments, teams or individuals to change their behaviour and correct the situation.
To complement these analytical skills, you will also be introduced to ERP systems (SAP) and other IT software, e.g., business intelligence in Power BI.
In general, the MSc in Management Accounting and Control (MAC) (in Danish: Økonomistyring) will provide you with competencies within:
The MAC programme has a strong tradition of collaborating with companies, as companies have a very high demand for the skillset learned by students on the MAC programme. The MAC programme has more than 10 partner companies that include top consulting firms, manufacturers, retailers etc. These partnerships involve guest lectures, social events, awards and other interesting activities. We also collaborate closely with companies on internships, theses, project work, etc. Therefore, our programmes are based on theoretical foundation in combination with practical, real-world problems and solutions.
In this section you can learn more about the admission requirements relevant to the master's degree programme in Management Accounting and Control. Depending on your educational background and your qualifications, there are different ways to meet the admission requirements:
This section is relevant for you, if you have:
The two sections listed below are relevant only for students with a bachelor's degree from a Danish institution:
Below you will also be able to learn more about language requirements and find out whether or not this master's degree programme has a limited intake.
If you have an international educational background, you must meet both the general admission requirement and the specific admission requirements:
You must have a bachelor's degree or equivalent that is comparable to a Danish bachelor's degree in both level and duration (180 ECTS).
For more information about how your bachelor's degree is assessed, please see the national database.
If you meet the general admission requirement, the university will continue on to assess whether or not you meet the specific admission requirements.
You can be admitted to the master's programme if the university assesses that your education has a level, scope, and content that corresponds to the academic requirements specified below.
| Subject area | Number of ECTS |
Methods The following subject areas must be covered:
| 15 |
| Marketing | 7,5 |
| Finance | 7,5 |
| Accounting | 7,5 |
| Organisation and leadership theory | 7,5 |
| Microeconomics | 5 |
| Operations management | 5 |
| Additional ECTS points within the abovementioned areas | 25 |
| Bachelor’s project | 10 |
| Total | 90 |
| Applicants with a Bachelor’s degree in Business Administration and Commercial Law (HA (jur.)) with commencement of study September 2014 or later from Aarhus University must have passed a total of 10 ECTS within the business economics subjects below: |
|
Certain Professional Bachelor's degrees or similar covering specific subject areas from other Danish institutions have been determined to fullfill the admission requirements to this master's degree programme:
| Required subject areas – Professional Bachelor’s degree in Financial Management and Service from Business Academy Aarhus |
Industry specialisation in Accounting (“Programme specialisation subject A – external accounts” and “Study programme subject B – strategic accounting”) With the following electives:
|
Industry specialisation in Finansielle forretninger (this industry specialisation is only offered in Danish) With the following electives:
|
| Required subject areas - AP degree in Marketing Management in combination with a Professional Bachelor’s degree in International Sales and Marketing from Business Academy Aarhus | Number of ECTS |
| BSS module (including Methods 5 ECTS, Finance 5 ECTS, and Operations Management 5 ECTS) | 15 |
For applicants who hold one of the abovementioned professional bachelor's degrees from another business academy, it will be assessed whether the electives correspond to abovementioned electives.
For applicants who hold another professional bachelor's degree, the degree will be assessed according to the requirements described in the section “International and other qualifications”.
We cannot assess in advance whether your specific degree will meet the above requirements. Therefore, we recommend that you apply for the programme if you believe that you meet the academic requirements. In this regard, it is a good idea to compare your degree with the programmes that provide direct admission.
The following Bachelor's degree programme(s) from Aarhus University entitles you to an offer of admission to the Master's degree programme in Management Accounting and Control:
Bachelor's degree programme in Economics and Business Administration (HA)
Please note that you must apply for admission to the Master's degree programme within three years of completing your Bachelor's degree programme.
Learn more about Legal right of admission.
Certain Bachelor's degree programmes from Aarhus University and various other Danish Universities have been determined to meet the admission requirements to this Master's degree programme in Management Accounting and Control:
* With a diploma older than 2010, your Bachelor’s degree will be assessed according to the specific admission requirements described under the section: “International and other qualifications”.
You must fill in this appendix and upload it to the application portal. The appendix helps the Admission Board to assess your application.
Download appendix
This master's degree programme has a limited intake.
Because of the limited intake all qualified applicants will be prioritised according to a set of selection critieria (see below).
Meeting the admission requirements does not automatically ensure your offer of admission. Only if you have a specific bachelor's degree from Aarhus University with a so-called 'legal right of admission' will you be guarenteed an offer of admission to this master's degree programme.
If there are more qualified applicants than available student places, the selection will be based on the following criteria (each criterion counts for 1/3):
Grades from the qualifying degree
Grades achieved in relevant subject fields:
Accounting
Methods
Please note that grades achieved after the application deadline are not included in the grade point average (GPA).
Relevant subject fields (measured in ECTS). In this assessment, ECTS credits that are a part of the admission requirements described under “International and other qualifications” are not included *.
Accounting
Methods
* The relevant subject fields are evaluated based on the following point system: 1 point per additional ECTS within the relevant field. You can earn a maximum of 15 points in this criterion. Example: If you have 10 ECTS in a relevant field where the requirement is 7.5 ECTS, you will receive 2.5 points.
In order to be admitted to this programme you must meet the university's english language requirements.
Students with bachelor's degree from Aarhus University with a so-called 'Legal right of admission' are exempt from the English language requirement.
Unfortunately, Aarhus University is not able to assess your qualifications beforehand. In order for your qualifications to be assessed you must apply for admission. To learn more, please go to Assessment of your qualifications.
ACADEMIC REGULATIONS
The study programme consists of two semesters in the first year which cover the compulsory courses in the programme specialisation and two semesters in the last year which are reserved for the student's own specialisation.
In the first semester you follow the prerequisite courses that form the methodological and academic basis for the further study programme.
In the second semester you follow the specialisation courses of the programme.
In the third semester you can choose elective courses within your areas of interest. The courses can either be taken at Aarhus BSS during the semester, at the Summer University or at one of our more than 300 partner universities abroad. You can also participate in project-based internship programmes either in Denmark or abroad.
The fourth semester is devoted to the final thesis. You may choose the topic of the thesis freely and so get a chance to concentrate on and specialise in a specific field of interest. The thesis may be written in collaboration with another student or it may be the result of your individual effort.
At Aarhus BSS, we conduct research at the highest academic level.
All researchers employed are engaged in research projects covering a wide range of different subjects and focusing on knowledge and skills considered essential for professional business activities in the global marketplace. All faculty have both research and teaching responsibilities which means that our teaching is continually based on the latest research results.
Aarhus BSS is very internationally oriented. The broad scope of our research activities and educational programmes enable us to attract researchers, teachers, and students from all over the world, and this creates an international environment for research and learning in which academic views are exchanged, experiences are gathered and friendships are formed.
Aarhus University is a leading university in Denmark in building student exchange opportunities. The university encourages all students to spend time studying abroad. Every year, more than 700 students from Aarhus BSS go abroad to participate in exchange programmes around the world at our more than 300 partner universities. About the same number of students from all over the world come to participate in the exchange programme in Aarhus, and this contributes to a truly international learning atmosphere.
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Decisions and leadership based on management accounting, including both financial and non-financial information, is critical to value creation within all organisations. Hence, there is a wide variety of job opportunities for graduates from the MAC programme.
You will have a multitude of career opportunities once you graduate, for example:
The Department of Management has a strong management accounting research group attached to the MAC programme.
The research-based MSc study programme in Economics and Business Administration builds on the competencies and insights acquired in the BSc study programme in Economics and Business Administration.
The study programme provides the graduate with specialist knowledge within the disciplines of the study programme, which gives the graduate high academic qualifications to develop solutions to issues pertaining to business administration in companies and organisations in the public and private sectors.
The study programme also qualifies the graduate for further studies, including PhD studies.
Through the study programme, the graduate has acquired knowledge that enables the graduate to
We want to help our students find successful careers. Students can always contact our Career Services for advice and assistance with getting onto the Danish labour market. Check out our careers page to see the range of services we offer.
1. What makes the Master’s degree programme in Management Accounting and Control unique from your perspective?
The MAC programme provides a unique combination of an understanding of numbers and how those numbers relate to an organisation. This combination is something that an increasing number of companies are looking for as we move into a world where finance becomes centred on value creation. Many standard financial programmes do not provide students with the toolbox they need to create value through different business models, strategies, performance management competences, managerial accounting skills, etc.
2. What competencies demanded by your company does the degree programme provide?
Our company needs finance people with a good toolbox in relation to finance processes, IT tools, performance management, budget/forecast, etc. However, we also have an increasing need for finance controllers who understand value creation, strategy, business, communication, etc. The latter competencies have been required at all levels within finance the last few years and not all programmes equip students to go beyond figures. MAC provides students with a solid understanding of the financial toolbox, but more importantly, that toolbox contains competencies within strategy, business, business models, etc.
3. What type of job function will a graduate from the Management Accounting and Control programme be able to fill at your company (or for your customers)?
People with an MSc in Management Accounting and Control will be able take up many positions either within or outside finance in our organisation. The roles within finance could be business analyst and then later on finance business partner or head of finance – both position with a direct link to the business. There is also the option of more technical roles working with digital transformation or business warehouse reports and processes. An example of a role outside finance could be strategy consultant for strategy and management processes.
1. What makes the Master’s degree programme in Management Accounting and Control unique from your perspective?
Management accounting is at the core of finance, and the Management Accounting and Control degree programme teaches you how to create business insights and drive company performance.
2. What competencies demanded by your company does the degree programme provide?
By combining concepts and theories within planning and budgeting and combining performance management and cost management with competencies in project management, graduates from the programme are trained to solve the challenges we see in the market.
3. What type of job function will a graduate from the Management Accounting and Control programme be able to fill at your company (or for your customers)?
We work within the entire CFO area and engage with clients to operate, optimise, and strategically transform their finance functions. Graduates take part in transformation projects where they support the client in all project phases from analysis to design and implementation. Our aspiration is to train the finance professionals and CFOs of tomorrow through a tailored and continuous development programme.
1) What makes the Master’s degree programme in Management Accounting and Control unique from your perspective?
The Master’s degree programme in Management Accounting and Control is unique because it provides students with a strong foundation in financial management and accounting, as well as data analysis and decision-making skills.
2) What competencies demanded by your company does the degree programme provide?
The competencies sought after by Danfoss that a graduate from the programme can provide are financial analysis and reporting, budgeting and forecasting, and the ability to interpret financial data and communicate insights effectively.
3) What type of job function will a graduate from the Master’s degree programme in Management Accounting and Control be able to fill at your company (or for our customers)?
A graduate from the Master’s degree programme in Management Accounting and Control will be able to take on roles such as financial analyst, management accountant, financial controller and much more at Danfoss. The programme also provides valuable leadership and project management skills that would be beneficial in various roles within our organisation. Our CFO is a graduate from the programme.
