Kyiv National Economic University named after Vadym Hetman

Financial Controlling


Master Program „Financial Controlling“
The Head of Master Program: Prof. Dr. Oleg Tereshchenko (The Head of Corporate Finance & Controlling Department and Financial Controlling Institute)
The Program represents the philosophy of financial controlling according to which controlling department can be interpreted as a company’s “brain center” that provides analytical and  informational support for managerial decisions and  coordination  of separate management subsystems.

The following courses are studied:

I Semester

  • “Financial Management” – 4c (Eng)*
  • “Tax Management” – 4c (Eng)
  • “Internal Financial Control”- 3c  (Eng)
  • “ERP Systems and Controlling” – 3c (Eng)
  • “Financial Controlling” – 4c (Ukr/Eng/Ger)

II Semester

  • “Management  Accounting & Controlling” – 3c (Ukr/Eng)
  • “Risk Controlling – 3c (Eng)”
  • “Insurance Management” – 4c (Ukr)
  • “HR Management” – 4c (Ukr)
  • “Financial Market Services” – 4c (Ukr)

Programme Supervisor – Head of the Department of Corporate Finance and Controlling, Director of the Institute of Financial Controlling of Kyiv National Economic University, Doctor of Economics, Professor O.O. Tereshchenko. Profile disciplines are taught by practitioners, who were trained and had practical training in European universities.

While training for Master's Program the "philosophy" of financial controlling is realized according to which it is  interpreted as a "thinking centre" of the company, that provides information and methodological support of financial and economic decisions. The aim of controlling is that all the company should be "under control".

The versatility and originality of the Master's Program is that it is on the verge of specialties "Finance", "Accounting and Auditing" and "Management". Experts in the field of financial controlling master a considerable range of competencies specific to these professions. The program aims at training specialists who could provide:

• development and implementation of corporate and financial strategy of the company;

• organization and implementation of budgeting and budgetary control;

• providing management accounting and reporting;

• transformation of financial reporting and its analysis in accordance with IFRS;

• implementation of tools of costs controlling in the enterprise;

• risk and value management of the company;

• financial communication of the company;

• providing financial analysis, diagnostic and monitoring;

• assessment of efficiency and behavour management;

• internal and external financial consulting, analytical and methodological support of financial decisions;

• internal financial control and internal audit in the company.

The internationalization of the educational process. The Master's Program is implemented with the scientific and technical support of the Institute of Financial Controlling (Vadym Hetman Kyiv National Economic University), and partner universities from Germany: Philipps-University in Marburg and the University in Götingen. The best students of the Program have the opportunity to undergo training in exchange programs with these universities and undergo training in German companies. Teaching of separate blocks of lectures on key subjects of the Master's Program are presented by German partners. Methodolodical support of the profile subjects iscarried out according to the model of German universities.

Base for practical training. Business partners of the Program that provide internships for students are mostly foreign companies, including: Coca-Cola BeweragesUkraineLimited (Ukraine), JSC "Raiffeisen Bank Aval" Audit company «BakerTillyUkraine», LLC "Pizza Celentano - Kyiv" Company "Conwy Pack ", the company« L'OrealUkraine », OstendorfKunststoffeGmbH, RothWerkeGmbH, LantmannenaxaUkraine, the "Big Four" companies(consulting, audit) and others.

Integrating best practices into the educational process. Implementing best practices in the educational process for Master’s Program is ensured through the involvement for giving poblem lectures by outside experts and practitioners - experts from controlling, consulting, auditing and financial management. Professional discussions with practitioners, solving practical cases and presentation of training consulting projects are an integral part of training.


In the Ist semester:

• Financial Controlling;

• Financial management;

• The global economy;

• Social responsibility;

• Methodology of scientific research;

• Innovative development of the company;

• International payments and foreign currency transactions.

In the IInd semester:

• Managerial accounting in the controlling system;

• Taxation of business entities;

• Accounting and reporting by international standards.

in the III rd semester:

• ERP in the financial controlling;

• Internal financial control;

• Controlling risks.

Some lectures and courses are taught in English. According to the schedule of the educational process in the first semester students are mostly trained in the classrooms, in the second and third semesters training is integrated into practice: students take practical training and may be partially employed.

Employment. Graduates of the Program can work as financial controllers, financial directors, financial analysts and consultants, internal and external auditors, risk managers, business development manager. In addition, graduates of the Master's Program can work in different institutions and organizations in positions that require skills in finance: auditing companies, tax authorities, banks, insurance companies, consulting firms, subjects of evaluating activity.

The survey of graduates shows that by the end of the training Program all the masters are employed in successful international and domestic companies, for most of them new job vacancies are no longer interesting. Some companies employ graduates of the Master's Program “Financial Controlling” only. Today our graduates work in leading companies in Ukraine, Germany, Sweden, Poland, France and the USA.

Download the teaching complex in the Master Program "Financial Controlling"

Last redaction: 10.06.16