Specialize in Accounting Management with this program that will allow you to carry out the most appropriate business strategies” 

Why Study at TECH?

TECH is the world's largest 100% online business school. It is an elite business school, with a model based on the highest academic standards. A world-class centre for intensive managerial skills training.   

TECH is a university at the forefront of technology, and puts all its resources at the student's disposal to help them achieve entrepreneurial success"

At TECH Global University

Innovation

The university offers an online learning model that combines the latest educational technology with the most rigorous teaching methods. A unique method with the highest international recognition that will provide students with the keys to develop in a rapidly-evolving world, where innovation must be every entrepreneur’s focus.

"Microsoft Europe Success Story", for integrating the innovative, interactive multi-video system.  

The Highest Standards

Admissions criteria at TECH are not economic. Students don't need to make a large investment to study at this university. However, in order to obtain a qualification from TECH, the student's intelligence and ability will be tested to their limits. The institution's academic standards are exceptionally high...  

95% of TECH students successfully complete their studies.

Networking

Professionals from countries all over the world attend TECH, allowing students to establish a large network of contacts that may prove useful to them in the future.  

100,000+ executives trained each year, 200+ different nationalities.

Empowerment

Students will grow hand in hand with the best companies and highly regarded and influential professionals. TECH has developed strategic partnerships and a valuable network of contacts with major economic players in 7 continents.  

500+ collaborative agreements with leading companies.

Talent

This program is a unique initiative to allow students to showcase their talent in the business world. An opportunity that will allow them to voice their concerns and share their business vision. 

After completing this program, TECH helps students show the world their talent. 

Multicultural Context

While studying at TECH, students will enjoy a unique experience. Study in a multicultural context. In a program with a global vision, through which students can learn about the operating methods in different parts of the world, and gather the latest information that best adapts to their business idea. 

TECH students represent more than 200 different nationalities.   

Learn with the best

In the classroom, TECH teaching staff discuss how they have achieved success in their companies, working in a real, lively, and dynamic context. Teachers who are fully committed to offering a quality specialization that will allow students to advance in their career and stand out in the business world. 

Teachers representing 20 different nationalities. 

TECH strives for excellence and, to this end, boasts a series of characteristics that make this university unique:   

Analysis

TECH explores the student’s critical side, their ability to question things, their problem-solving skills, as well as their interpersonal skills.  

Academic Excellence

TECH offers students the best online learning methodology. The university combines the Relearning method (a postgraduate learning methodology with the highest international rating) with the Case Study. A complex balance between tradition and state-of-the-art, within the context of the most demanding academic itinerary.  

TECH is the world’s largest online university. It currently boasts a portfolio of more than 10,000 university postgraduate programs. And in today's new economy, volume + technology = a ground-breaking price. This way, TECH ensures that studying is not as expensive for students as it would be at another university.  

At TECH, you will have access to the most rigorous and up-to-date case studies in the academic community”

The MBA in Accounting Management (CAO, Chief Accounting Officer) is a 100% online program designed to suit active professionals. Students will be able to choose the time and place that best suits their availability, schedule and interests, thus achieving a more effective learning process.

The program is offered over 12 months and it is intended to be a unique and stimulating experience that will lay the foundations for students to be successful as accountant managers.

Our study plan is designed for you to contextually learn about all the situations you may face in your daily practice”

Syllabus

The MBA in Accounting Management (CAO, Chief Accounting Officer) at TECH Global University is an intensive program that prepares professionals to face challenges and business decisions at both a national and international level. The content has been designed to promote the development of managerial skills that enable more thorough decision-making in uncertain environments. Thanks to this syllabus, graduates will be prepared to work successfully as Chief Accounting Officer.

Over the course of 2,700 hours, students will analyze a multitude of practical cases through individual work, achieving a deep learning that will be very useful in their daily work. It is, therefore, an authentic immersion in real business situations.

This program deals in depth with different areas of the company and it is designed to specialize managers who understand project management from a strategic, international and innovative perspective.

A plan designed for students, focused on their professional improvement and that prepares them to achieve excellence in the field of business management and administration. A program that understands your needs and those of your company through innovative content based on the latest trends, and supported by the best educational methodology and an exceptional faculty, which will provide you with the competencies to solve critical situations in a creative and efficient way.

This Professional master’s degree takes place over 12 months and is divided into 15 modules:

Module 1. Advanced Accounting I
Module 2. Management Accounting in Decision Making
Module 3. Advanced Accounting II
Module 4. Accounting and Taxation
Module 5. Analysis of Economic-Financial Statements
Module 6. International Regulations
Module 7. Financial Instrument Analysis and Management
Module 8. Business Combinations and Business Valuation
Module 9. Financial Statement Consolidation
Module 10. Financial-Accounting Planning for Business Decision
Module 11. Leadership, Ethics and Social Responsibility in Companies
Module 12. People and Talent Management
Module 13. Economic and Financial Management
Module 14. Commercial and Strategic Marketing Management
Module 15. Executive Management

Where, When and How is it Taught?

TECH offers the possibility of taking this program completely online. Throughout the 12 months of specialization, students can access all the program contents at any time, allowing them to self manage their study time.

Module 1. Advanced Accounting I

1.1. Company Formation

1.1.1. Introduction to Corporate Accounting
1.1.2. Capital Stock

1.1.2.1. Monetary Contributions
1.1.2.2. Non-Monetary Contributions

1.1.3. Limited Company Formation

1.1.3.1. Formation by Simultaneous Foundation or by Agreement
1.1.3.2. Formation by Successive Formation or by Public Subscription

1.2. Treasury Stock

1.2.1. Concept of Treasury Stock
1.2.2. Treasury Stock Acquisition
1.2.3. Treasury Stock Disposal
1.2.4. Treasury Stock Depreciation

1.3. Property, Plant and Equipment

1.3.1. Introduction to Property, Plant and Equipment
1.3.2. Initial Valuation of Property, Plant and Equipment

1.3.2.1. Acquisition Price
1.3.2.2. Production Costs
1.3.2.3. Swaps
1.3.2.4. Non-Monetary Contributions

1.3.3. Posterior Valuation of Property, Plant and Equipment

1.3.3.1. Depreciation
1.3.3.2. Deterioration

1.3.4. Disposal of Property, Plant and Equipment

1.4. Value Added Tax-VAT (I)

1.4.1. Value Added Tax and Accounts
1.4.2. Input VAT
1.4.3. Output VAT
1.4.4. Value Added Tax Accounting on Purchases and Expenses
1.4.5. Value Added Tax Accounting on Sales and Services Rendered

1.5. Value Added Tax-VAT (II)

1.5.1. Pro Rata Rule

1.5.1.1. General Proration
1.5.1.2. Special Apportionment
1.5.1.3. Pro Rata Rule for Investment Goods

1.5.2. Special Tax Regimes
1.5.3. Intra-Community Goods Acquisitions, Imports and Exports

1.6. Corporate Income Tax - IS (I)

1.6.1. Corporate Income Tax and Accounts
1.6.2. Current Tax on Assets and Liabilities
1.6.3. Deferred Tax on Assets and Liabilities
1.6.4. Valuation of Current and Deferred Tax on Assets and Liabilities

1.7. Corporate Income Tax - IS (II)

1.7.1. Tax Loss Carryforwards
1.7.2. Corporate Tax Adjustments

1.7.2.1. Permanent Differences
1.7.2.2. Temporary Differences

1.8. Financing I

1.8.1. Introduction to Corporate Financing
1.8.2. Reserves

1.8.2.1. Account 110: Share Premium
1.8.2.2. Account 111: Legal Reserve
1.8.2.3. Account 113: Voluntary Reserve
1.8.2.4. Account 114: Special Reserves
1.8.2.5. Account 118: Contributions from Shareholders, Partners or Owners

1.8.3. Unappropriated Retained Earnings

1.8.3.1. Account 120: Retained Earnings
1.8.3.2. Account 121: Losses from Previous Years
1.8.3.3. Account 129: Fiscal Year Results

1.8.4. Capital Subsidies for SMEs

1.9. Financing II

1.9.1. Provisions
1.9.2. Long-Term Debt

1.9.2.1. Long-Term Debt with Special Characteristics
1.9.2.2. Long-Term Debt with Related Parties
1.9.2.3. Long-Term Debt due to Received Loans, Borrowings and Other Items

1.9.3. Guarantees

1.9.3.1. Account 180: Long Term Guarantees Received
1.9.3.2. Account 181: Advances Received for Long Term Sales and Services
1.9.3.3. Account 189: Long Term Financial Guarantees

1.9.4. Transitory Financing Situations

1.10. Financial Accounts I

1.10.1. Borrowings, Debt with Special Features and Other Similar Short-Term Issuances
1.10.2. Short-Term Debt with Related Parties
1.10.3. Short-Term Debt for Received Loans and Other Concepts
1.10.4. Short-Term Financial Investments with Related Parties

Module 2. Management Accounting in Decision Making

2.1. Conceptual Foundations

2.1.1. Analytical Accounting: Concept, Evolution and Field of Study
2.1.2. Analytical Accounting: Objectives and Users
2.1.3. Relations and Differences between Cost Accounting and Financial Accounting

2.2. Cost: Basic Concepts

2.2.1. The Concept of Cost and Its Constituent Elements
2.2.2. Relativity of Cost Figures
2.2.3. Accounting Itinerary of Costs: The Cost-Assets-Profitability Connection
2.2.4. The Concept of Expense and its Relation to the Cost

2.3. Basic Cost Accumulation Models and Results

2.3.1. Cost Accounting Flow: Component Identification, Accrual, Classification and Location
2.3.2. Activity Analysis as the Basis for Generating Costs
2.3.3. Cost-Activity-Production Connection The Problem of Indirect Costs
2.3.4. Structure of the Basic Accrual Model: Analysis by Functions
2.3.5. Concept and Objectives of the Classification of Costs by Functions

2.3.5.1. Main Functions that Comprise the Company's Operations and Criteria to Define and Allocate Costs
2.3.5.2. Cost Allocation at Full Industrial Cost

2.3.6. Functional Income Statement: Concept and Structure

2.4. Warehouse Valuation

2.4.1. Inventories
2.4.2. Valuation Methods

2.5. Ongoing and Lost Production

2.5.1. Valuation of Work-in-Process Stocks
2.5.2. Valuation of Opening Stocks of Work in Progress
2.5.3. Valuation of Lost Production

2.6. Multiphase Production System

2.6.1. Introduction
2.6.2. Semi-Finished Products
2.6.3. Multiphase Production Models
2.6.4. Multiphase Serial Production
2.6.5. Parallel Multiphase Production

2.7. Variable Cost Model

2.7.1. Conceptual Foundations
2.7.2. Cost Accruals and Income Statement Structure
2.7.3. Contribution Margin as Profitability Analysis and Decision-Making Tool
2.7.4. Cost Localization and Analysis by Plant within the Variable Cost Model Framework
2.7.5. Direct Costing and Cost-Volume-Profit Analysis: Basic Model for Cost-Volume-Profit Analysis
2.7.6. Determining the Breakeven Point
2.7.7. Variable Cost Model Limitations

2.8. Decision Making under Variable Costs

2.8.1. Activity and Capacity, Basic Concepts in Management Analyze and Control
2.8.2. Cost Behavior and Variations in Activity Levels: Fixed and Variable Costs
2.8.3. Applying Direct Costing to Pricing and Product Decisions
2.8.4. Installed Capacity Utilization as a Conditioning Framework for Business Decisions: Decision Criteria in Low Occupancy and Full Occupancy Situations
2.8.5. Decisions on Manufacturing, Outsourcing or Purchasing
2.8.6. Decisions on Whether to Continue Processing the Product or Sell it at a Lower Level of Processing
2.8.7. Decisions on Acceptance or Rejection of Special Orders

2.9. Standard Cost Model

2.9.1. Deviations

2.9.1.1. Direct Cost Variances
2.9.1.2. Indirect Cost Variances

2.10. Cost Model based on Rational Allocation

2.10.1. Installed Capacity Utilization as an Efficiency Factor: Capacity Utilization and Idle Capacity: Impact on Costs
2.10.2. Under-Activity Costs
2.10.3. Rational Allocation Method for Cost Allocation

2.10.3.1. Conceptual Foundations
2.10.3.2. Cost Allocation
2.10.3.3. Income Statement Structure

2.10.4. Analysis and Management Control Method Contributions

Module 3. Advanced Accounting II

3.1. Financial Accounts II

3.1.1. Other Temporary Financial Investments
3.1.2. Other Non-Bank Accounts
3.1.3. Short Term Received Deposits and Guarantees and Periodization Adjustments
3.1.4. Treasury
3.1.5. Non-Current Assets Held for Sale and Associated Assets and Liabilities
3.1.6. Impairment of Short-Term Financial Investments

3.2. Business Combination (I)

3.2.1. Introduction to Business Combination
3.2.2. Business Combinations Classification
3.2.3. Acquisition Method

3.2.3.1. Acquiring Company Determination
3.2.3.2. Identifying Acquisition Dates
3.2.3.3. Business Combination Cost
3.2.3.4. Goodwill or Negative Goodwill Recognition

3.2.4. Provisional Accounting
3.2.5. Business Combinations in Stages

3.3. Business Combination (II)

3.3.1. Concept of Company Mergers and Types
3.3.2. Merger Projects
3.3.3. Merger Balance Sheets
3.3.4. Merger Approval
3.3.5. Formalizing and Registering Merger Agreements
3.3.6. Merger Effects
3.3.7. Merger Types

3.3.7.1. Direct Mergers
3.3.7.2. Indirect Mergers
3.3.7.3. Merger Stages
3.3.7.4. Twin Mergers
3.3.7.5. Reverse Mergers

3.4. Business Combination (III)

3.4.1. Concept of Company Divisions
3.4.2. Legal Regime Governing Divisions
3.4.3. Division Effects
3.4.4. Division Types

3.4.4.1. Total Divisions
3.4.4.2. Partial Divisions

3.5. Business Combination (IV)

3.5.1. Concept of Corporate Segregation
3.5.2. Partial Segregation

3.6. Insolvency Proceedings

3.6.1. Concept of Insolvency Proceedings
3.6.2. Types of Insolvency Proceedings
3.6.3. Insolvency Administration
3.6.4. Consequences of Declaring Bankruptcy
3.6.5. Accounting Scheme

3.7. Introduction to Reviewing Annual Accounts

3.7.1. Annual Accounts
3.7.2. Concept of Auditing
3.7.3. Objectives of Reviewing Annual Accounts
3.7.4. Fundamental Accounting and Ethical Principles
3.7.5. Regulatory Framework

3.7.5.1. Financial Reporting Framework for a Faithful Image
3.7.5.2. Compliance Financial Reporting Framework
3.7.5.3. Adequate Financial Reporting Framework
3.7.5.4. Inadequate Financial Reporting Framework
3.7.5.5. Financial Reporting Framework Applicable to Companies in Liquidation

3.7.6. National and international regulatory framework

3.7.6.1. International Standards on Auditing Adopted by the European Union (ISA)
3.7.6.2. Technical Auditing Standards (TAS)
3.7.6.3. Usages and Customs

3.8. Parties Involved in Reviewing Annual Accounts

3.8.1. Entities Obliged to Submit to Annual Account Audits
3.8.2. Auditors

3.8.2.1. Auditing Requirements for the exercise of the audit
3.8.2.2. Auditor Liability
3.8.2.3. Auditor Obligations

3.8.2.3.1. Obligation of Independence
3.8.2.3.2. Obligation of Preservation and Custody
3.8.2.3.3. Obligation of Secrecy
3.8.2.3.4. Obligation of Skepticism and Professional Judgment

3.9. Annual Accounts Audit Report

3.9.1. Audit Report Structure

3.9.1.1. Basic Elements in the Annual Accounts Audit Report

3.9.2. Other Aspects
3.9.3. Audit Report Model

Module 4. Accounting and Taxation

4.1. General Accounting Plan (GAP)

4.1.1. Structure of PGC
4.1.2. Conceptual Framework of Accounting

4.1.2.1. Annual Accounts and Faithful Image
4.1.2.2. Information Requirements for Annual Accounts
4.1.2.3. Accounting Principles
4.1.2.4. Annual Accounts Components
4.1.2.5. Criteria for Recording or Accounting Recognition of Elements in Annual Accounts
4.1.2.6. Assessment Criteria
4.1.2.7. Generally Accepted Accounting Principles and Standards

4.1.3. Recording and Valuation Standards
4.1.4. Annual Accounts

4.2. Accounting Treatment of Stock Purchases and Sales

4.2.1. Rules for Inventory Recording and Valuation
4.2.2. Methods of Assigning Inventory Value
4.2.3. Inventory Expenses and Income Accounts
4.2.4. Inventory Valuation and Valuation Adjustments
4.2.5. VAT on Purchases and Sales

4.3. Accounting Treatment of Trade Payables and Receivables

4.3.1. Rules for Recording and Valuating Financial Instruments
4.3.2. Current Operations
4.3.3. Commercial Transactions with Deferral Interest: Factoring
4.3.4. Foreign Currency Operations
4.3.5. Personnel and General Government Accounts
4.3.6. Accruals and Deferrals
4.3.7. Valuation Adjustments

4.4. Accounting Treatment of Non-Financial Fixed Assets

4.4.1. Non-Financial Fixed Assets Recording and Valuation Rules
4.4.2. Fixed Assets under Construction
4.4.3. Real Estate Investments
4.4.4. Intangible Fixed Assets
4.4.5. Valuation Adjustments
4.4.6. Assets Held for Sale
4.4.7. Financial Leasing

4.5. Accounting Treatment of Financial Instruments

4.5.1. Rules for Recording and Valuating Financial Instruments
4.5.2. Financial Instruments Classification

4.5.2.1. Held-to-Maturity Investments
4.5.2.2. Financial Assets Held for Trading
4.5.2.3. Available-for-Sale Financial Assets
4.5.2.4. Investments in the Equity of Group, Multi-Group and Associated Companies
4.5.2.5. Non-Trade Receivables
4.5.2.6. Credits, Loans and Other Payables
4.5.2.7. Borrowings and Other Similar Issuances
4.5.2.8. Financial Liabilities Held for Trading

4.5.3. Bonds, Deposits and Other Non-Bank Accounts
4.5.4. Accruals and Deferrals

4.6. Accounting Treatment of Shareholder Equity, Subsidies and Provisions

4.6.1. Own Financing Sources
4.6.2. Equity Instruments
4.6.3. Grants, Donations and Legacies
4.6.4. Provisions and Payments Based on Equity Instruments

4.7. Accounting Treatment of Expenses and Income and Year-End Transactions

4.7.1. Accounting Treatment of Expenses

4.7.1.1. Inventory Purchases
4.7.1.2. Outside Services
4.7.1.3. Taxes
4.7.1.4. Personnel Expenses
4.7.1.5. Other Management Expenses
4.7.1.6. Financial Expenses
4.7.1.7. Losses from Non-Current Assets and Exceptional Expenses

4.7.2. Accounting Treatment of Income

4.7.2.1. Inventory Sales
4.7.2.2. Work Performed on Behalf of the Company
4.7.2.3. Grants, Donations and Legacies
4.7.2.4. Other Management Income
4.7.2.5. Financial Income
4.7.2.6. Benefits from Non-Current Assets and Income

4.7.3. Transactions Arising from the End of the Fiscal Year

4.7.3.1. Inventory Changes
4.7.3.2. Amortization
4.7.3.3. Impairment Losses and Other Provisions
4.7.3.4. Reversing Impairment and Excess Provisions

4.9. Corporate Income Tax

4.9.1. Differences Between Accounting and Tax Results

4.9.1.1. Amortization
4.9.1.2. Financial Leasing
4.9.1.3. Value Adjustments for Impairment and Provisions
4.9.1.4. Non-Deductible Expenses

4.9.2. Tax Debt Deductions and Allowances
4.9.3. Account Withholdings and Payments
4.9.4. Small Tax Incentives

4.10. Personal Income Tax

4.10.1. General Concepts

4.10.1.1. Income Types
4.10.1.2. Non-Subject and Exempt Income

4.10.2. Income Types

4.10.2.1. Income from Work
4.10.2.2. Income from Real Estate Capital
4.10.2.3. Income from Movable Capital
4.10.2.4. Income from Economic Activities
4.10.2.5. Capital Gains and Losses
4.10.2.6. Income Imputation
4.10.2.7. Tax Assessment

4.10.2.7.1. Taxable Income
4.10.2.7.2. Personal and Family Minimum
4.10.2.7.3. Total Tax Quota
4.10.2.7.4. Net Tax Quota
4.10.2.7.5. Differential Tax Quota

Module 5. Analysis of Economic-Financial Statements

5.1. Accounting Information Contained in Financial Statements

5.1.1. General Objectives of Accounting Information
5.1.2. Balance Sheets: Nature, Meaning and Components
5.1.3. Income Statements: Nature, Meaning and Components
5.1.4. Changes in Equity Statement: Meaning and Components
5.1.5. Cash Flow Statement: Meaning and Components

5.2. Economic and Financial Analysis Techniques

5.2.1. Economic-Financial Analysis Objectives
5.2.2. Methods of Analysis
5.2.3. Economic and Financial Analysis
5.2.4. Financial Classification of Balance Sheets
5.2.5. Economic Structure of Income Statements

5.3. Short-Term Financial Situation Analysis (I)

5.3.1. Short Term Equilibrium
5.3.2. Working Capital
5.3.3. Average Maturity Period or Operating Cycle
5.3.4. Necessary Working Capital

5.4. Short Term Financial Situation Analysis (II)

5.4.1. Ratios: Concept and Meaning
5.4.2. Main Ratios Used in Financial Statements Analysis: Solvency and Liquidity
5.4.3. Turnover Ratios of Working Capital Components

5.5. Long-Term Financial Situation Analysis (I)

5.5.1. Economic-Financial Structure: Assets, Liabilities and Net Worth
5.5.2. Relation between Liabilities and Net Worth
5.5.3. Collateral and Debt
5.5.4. Leverage Effect

5.6. Long-Term Financial Situation Analysis (II)

5.6.1. Benefit Generation Analysis
5.6.2. Funds Generation Analysis

5.7. Economic Situation Analysis: Profitability

5.7.1. Return on Investment (ROI) and Components
5.7.2. Financial Profitability or Return on Equity (ROE)
5.7.3. Shareholder Return

5.8. Applying ROA and ROE Concepts: The Weighted Average Cost of Capital (WACC)

5.8.1. The Weighted Average Cost of Capital
5.8.2. Factors that Determine the Cost of Capital
5.8.3. Cost of Capital Calculation
5.8.4. Determining the Cost of Each Financial Source

5.9. Quantifying Financial and Economic Effects of Investment and Financing Decisions

5.9.1. Approaching the Question by Way of Example
5.9.2. Financial Leverage
5.9.3. Financial Structure

5.10. Overall Financial Statement Analysis: Case Study

Module 6. International Regulations

6.1. International Accounting Architecture. Conceptual Framework

6.1.1. General Characteristics
6.1.2. General Purpose Financial Information Objective
6.1.3. Qualitative Features of Useful Financial Information
6.1.4. Financial Statements Components

6.2. Presenting Financial Statements (IAS 1, IFRS 1)

6.2.1. Introduction: Objective and Scope
6.2.2. Definitions
6.2.3. Financial Statements
6.2.4. Structure and Content

6.3. Cash Flow Statement (IAS7)

6.3.1. Introduction: Objective and Scope
6.3.2. Presenting Cash Flow Statements
6.3.3. Information on Cash Flows from Operating Activities
6.3.4. Reporting Cash Flows from Investing and Financing Activities

6.4. Inventories (IAS 2)

6.4.1. Introduction: Objective and Scope
6.4.2. Definitions
6.4.3. Inventory Measurement
6.4.4. Recognition as an Expense

6.5. Property, Plant and Equipment (IAS 16)

6.5.1. Objective
6.5.2. Scope
6.5.3. Definitions
6.5.4. Assessment
6.5.5. Measurement at Recognition
6.5.6. Measurement Subsequent to Recognition
6.5.7. Derecognition

6.6. Investment Properties (IAS 40)

6.6.1. Classification of Properties as Investment Properties
6.6.2. Measurement at Recognition
6.6.3. Measurement Subsequent to Recognition
6.6.4. Derecognition

6.7. Intangible Assets (IAS 38)

6.7.1. Recognition as Expense
6.7.2. Measurement Subsequent to Recognition
6.7.3. Service Life
6.7.4. Intangible Assets with Finite Lifespans
6.7.5. Intangible Assets with Indefinite Lifespans

6.8. Borrowing Costs (INTEREST) (IAS 23)

6.8.1. Borrowing Costs Subject to Capitalization
6.8.2. Commencement of Capitalization
6.8.3. Suspension of Capitalization

6.9. Assets Impairment (IAS 36)

6.9.1. Identifying Potentially Impaired Assets
6.9.2. Recoverable Amount Measurement
6.9.3. Recognition and Measurement of Impairment Loss
6.9.4. Cash-Generating Units
6.9.5. Reversing Impairment Loss

6.10. Operating Segments (IFRS 8)

6.10.1. Basic Principle
6.10.2. Scope
6.10.3. Operating Segments
6.10.4. Reportable Segments

Module 7. Financial Instrument Analysis and Management

7.1. Introduction to the Financial System and Institutions

7.1.1. General Matters
7.1.2. Financial System Organization
7.1.3. Financial Institutions
7.1.4. Financial Markets
7.1.5. Financial Assets
7.1.6. The Spanish Financial System

7.2. Short-Term Public Debt

7.2.1. Introduction
7.2.2. Treasury Bills: Definition and Features
7.2.3. Treasury Bills: Issuance Form
7.2.4. Secondary Market for Treasury Bills

7.3. Long-Term Public Debt

7.3.1. Introduction
7.3.2. Government Bonds and Debentures: Definition and Features
7.3.3. Bonds and Debentures: Issuance Form
7.3.4. Secondary Markets for Government Bonds and Debentures

7.4. Short-Term Corporate Debt

7.4.1. Introduction
7.4.2. Promissory Notes and Other Short Term Corporate Assets: Definition and Features
7.4.3. Commercial Paper: Issuance Form
7.4.4. Secondary Markets for Commercial Paper

7.5. Long-Term Corporate Debt

7.5.1. Introduction
7.5.2. Corporate Bonds and Debentures: Definition and Features
7.5.3. Corporate Bonds and Debentures: Issuance Form
7.5.4. Secondary Corporate Debt Markets

7.6. Variable Income: Stock

7.6.1. Introduction
7.6.2. What Is Stock?
7.6.3. Options Valuation
7.6.4. Official Market Surveillance and Supervision
7.6.5. Investment Services Firms
7.6.6. Public Share Offerings: Takeover Bid, Public Employment Offer (OEP), Public Subscription Offer (OPS), Initial Public Offering (IPO)
7.6.7. Market Credit Operations

7.7. Foreign Exchange Markets

7.7.1. Introduction
7.7.2. Type of Change
7.7.3. Factors Affecting the Types of Change
7.7.4. Foreign Exchange Transactions
7.7.5. Features of Foreign Exchange Markets

7.8. Derivative Instruments: Forwards and Futures

7.8.1. Introduction to Derivatives
7.8.2. Spanish Financial Futures Market (MEFF)
7.8.3. Forwards: Definition and Strategies
7.8.4. Futures. Definition and Strategies
7.8.5. Examples of Forwards and Futures Transactions

7.9. Derivative Instruments: Options

7.9.1. Introduction to Options
7.9.2. Basic Positions with Options
7.9.3. Intrinsic Value and Time Value in Options
7.9.4. Examples of Options Transactions

7.10. Derivative Instruments: SWAPS

7.10.1. Introduction to SWAPS
7.10.2. Features of SWAP Transactions
7.10.3. Types of SWAPS
7.10.4. Examples of SWAPS Transactions

Module 8. Business Combinations and Business Valuation

8.1. Strategic Rationale for the Acquisition and Valuation of a Company

8.1.1. Reasons for Valuing a Company: The Buy-Sell Process as a Growth Tool
8.1.2. Leveraged Financing: Capital Risk (Venture Capital, Private Equity, Family Offices)
8.1.3. Transaction Types, Buy Out: LBO, MBO, MBI and BIMBO
8.1.4. Key Aspects in Mergers and Acquisitions Processes
8.1.5. New Forms of Private Equity Investment, Crowdfunding

8.2. Market Assessment Methodology

8.2.1. Valuation Multiples of Listed Companies
8.2.2. Valuation Multiples of Private Transactions vs. Listed Markets: The Illiquidity Premium
8.2.3. Analytical Formulas for Multiples
8.2.4. Case Studies

8.3. Discounted Cash Flow (DCF) Methodology

8.3.1. Discounted Free Cash Flow Methodology
8.3.2. Free Cash Flow
8.3.3. Net Investment Rate (NIR)
8.3.4. Residual Value
8.3.5. Discount Rate, Weighted Average Cost of Capital (WACC)
8.3.6. Company Value
8.3.7. Calculating Net Financial Debt, Contingent Liabilities and Share Value
8.3.8. Case Studies

8.4. A Closer Look: Modeling of the Company to Be Appraised

8.4.1. Accounting Information Analysis, Trend Calculation: Tac's and Averages: Identifying Value Drivers
8.4.2. Revenue Projections by Business Line, Direct and Indirect costs
8.4.3. Projections of Ebitda, Based on Historical Data, Market Trends and the Company's Strategic Plan
8.4.4. Depreciation Scenarios and Investment Needs
8.4.5. Calculating the Historical Average Maturity Period
8.4.6. Calculating Necessary Working Capital
8.4.7. Free Cash Flow, Debt Cash Flow and Shareholder Cash Flow
8.4.8. Balance Sheet Projections

8.5. Analysis and Inclusion of Risk in Sale and Purchase Transactions

8.5.1. A More Comprehensive View of the Weighted Average Cost of Capital
8.5.2. The Cost of Borrowed Capital
8.5.3. The Cost of In-House Resources, Dividend Methodology
8.5.4. CAPM to Calculate Cost of Capital for Listed Companies
8.5.5. Calculating Beta for Unlisted Companies from Listed Company Data
8.5.6. CAPM for Unlisted Companies: Size Premiums and Illiquidity Premiums
8.5.7. Case Studies

8.6. Uncertainty and Risk, the Inclusion of Randomness

8.6.1. Scenario Creation, Calculation and Using Volatility to Create Value Intervals
8.6.2. Montecarlo Simulations
8.6.3. Sensitivity Analysis
8.6.4. Price vs. Value: The Value of Synergies: Risk Reduction through Payment Method
8.6.5. Case Studies

8.7. Two Solved Integrated Case Studies

8.7.1. Valuation of a Company in the Service Sector
8.7.2. Valuation of a Production Company

8.8. Other Assessment Methodology

8.8.1. Equity Methodology
8.8.2. EVA Methodology

8.9. Business Combinations in Financial Statements

8.9.1. IFRS 3, IFRS 13, NIC 38
8.9.2. The Goodwill
8.9.3. Recognition of Other Intangible Assets

8.10. Valuation of Intangible Assets

8.10.1. The Brand as a Leading Intangible Asset, Other Intangible Assets that Constitute the Value of a Company: The Multi-Period Excess Profit Method
8.10.2. Methods to Calculate Brand Value

8.10.2.1. The Royalty Method
8.10.2.2. The Interbrand Method

Module 9. Financial Statement Consolidation

9.1. Accounting Consolidation: Introduction

9.1.1. Introduction

9.1.1.1. Concept of Consolidation
9.1.1.2. Regulations to Prepare Consolidated Financial Statements

9.1.2. Subject to Consolidation
9.1.3. Obligation to Consolidate
9.1.4. Consolidation Methods

9.2. Global Integration Method. Part I

9.2.1. Introduction
9.2.2. Homogenizations
9.2.3. Aggregations and Acquisition Method
9.2.4. Eliminations

9.3. Global Integration Method. Part II

9.3.1. Introduction
9.3.2. Scenario 1: Change in Investment without Change in Percentage of Ownership, Change in Ownership
9.3.3. Scenario 2: Variation in the Percentage of Ownership without Loss of Control

9.3.3.1. Increase in the Percentage of Ownership without Loss of Control
9.3.3.2. Decrease in the Percentage of Ownership without Loss of Control

9.3.4. Scenario 3: Decrease in the Percentage of Ownership Resulting in Loss of Control
9.3.5. Special Cases and Exceptions to the Acquisition Method

9.4. Global Integration Method. Part III

9.4.1. Introduction
9.4.2. Individual Cases

9.4.2.1. Indirect Participation
9.4.2.2. Reverse Acquisitions
9.4.2.3. Other Acquisitions

9.5. Global Integration Method. Part IV

9.5.1. Introduction
9.5.2. Eliminating Intragroup Items and Income
9.5.3. Non-Financial Intragroup Transactions

9.6. Global Integration Method. Part V

9.6.1. Introduction
9.6.2. Non-Asset Eliminations
9.6.3. Financial Intragroup Transactions

9.7. Equity Method

9.7.1. Introduction. Description of the Procedure
9.7.2. Valuation by the Equity Method in Subsequent Years
9.7.3. Intragroup Transactions between Companies Accounted by the Equity Method and Group Companies
9.7.4. Modification of the Participation
9.7.5. Impairment Losses and Loss of Associated Multigroup Status

9.8. Proportional Integration Method

9.8.1. Definition and Applicable Criteria
9.8.2. Non-Monetary Contributions
9.8.3. Joint Ventures Held for Sale
9.8.4. Others
9.8.5. Investments and Divestment in Jointly Controlled Entities
9.8.6. Holdings Prior to being Considered a Multigroup Entity
9.8.7. Loss of Multigroup Status
9.8.8. Termination of the Joint Control Relationship

9.9. Other Rules Applicable to Consolidation

9.9.1. Introduction
9.9.2. Translation of Annual Accounts in Foreign Currency (arts. 59 A 67)
9.9.3. Other Rules Applicable to Consolidation

9.10. Consolidated Annual Accounts

9.10.1. Introduction
9.10.2. General Rules for Consolidated Financial Statements
9.10.3. The Consolidated Balance Sheet
9.10.4. Consolidated P&L Accounts
9.10.5. Consolidated Statement of Changes in Shareholders' Equity
9.10.6. Consolidated Statement of Cash Flows
9.10.7. The Consolidated Report

Module 10. Financial-Accounting Planning for Business Decisions

10.1. Economic-Financial Planning in the Company

10.1.1. The Importance of Economic-Financial Planning
10.1.2. General Considerations on Business Strategy
10.1.3. The Role of Budgets in Planning
10.1.4. Company Control Centers and Areas of Responsibility

10.2. Budget Structure and Process

10.2.1. Company Master Budgets

10.2.1.1. Operating Budgets
10.2.1.2. Investment/Disinvestment Budgets

10.2.2. Treasury Budget
10.2.3. Classification and Budgeting Techniques

10.2.3.1. Zero-Based Budgets
10.2.3.2. Activity-Based Budgets
10.2.3.3. Flexible Budgets

10.2.4. Mistakes to Avoid in Budgeting Processes

10.3. Steps to Prepare Operating Budgets I

10.3.1. Income Budgets
10.3.2. Production Budgets

10.3.2.1. Stock Determination
10.3.2.2. Purchasing Budgets
10.3.2.3. Mod

10.4. Steps to Prepare Operating Budgets II

10.4.1. Distribution Budgets
10.4.2. Commercial Budgets
10.4.3. Overhead Budgets

10.5. Capital Budget

10.5.1. Capital Budgeting from an Accounting Perspective
10.5.2. Jobs
10.5.3. Investment Expenses
10.5.4. Net Current Capital Requirements
10.5.5. Financial Depreciation
10.5.6. Financial Resources
10.5.7. Self-Financing
10.5.8. External Financing
10.5.9. Extraordinary Resources

10.6. The Treasury’s Budget

10.6.1. Operating Cash Flow Statements
10.6.2. Investment/Divestment Cash Flow Statements
10.6.3. Cash Flows from Financing Activities Statements

10.7. Preparing Interim Financial Statements

10.7.1. Interim Profit and Loss Accounts
10.7.2. Interim Balance Sheets
10.7.3. Cash Flow Statements

10.8. Instruments and Tools for Operational Budgetary Control Analysis

10.8.1. Using Flexible Budgeting for Variance Calculation
10.8.2. Calculating Variances for Volume, Price and Line-Item Efficiency
10.8.3. Calculating Standard Costs and Budgeted Rates

10.9. Operating Budgetary Control Using Case Studies

10.9.1. Sales Budget Variances
10.9.2. Variances in Direct Costs
10.9.3. Indirect Costs Budget Variances
10.9.4. Fixed Indirect Cost Budget Variances
10.9.5. Interpreting Variances

10.10. The Company's Budget and Balanced Scorecards

10.10.1. General Considerations on Business Strategy
10.10.2. What Are Balanced Scorecards?
10.10.3. Preparing Balanced Scoreboards and Main Indicators

Module 11. Leadership, Ethics and Social Responsibility in Companies

11.1. Globalization and Governance

11.1.1. Governance and Corporate Governance
11.1.2. The Fundamentals of Corporate Governance in Companies
11.1.3. The Role of the Board of Directors in  the Corporate Governance Framework

11.2. Leadership

11.2.1. Leadership A Conceptual Approach
11.2.2. Leadership in Companies
11.2.3. The Importance of Leaders in Business Management

11.3. Cross Cultural Management

11.3.1. Cross Cultural Management Concept
11.3.2. Contributions to Knowledge of National Cultures
11.3.3. Diversity Management

11.4. Management and Leadership Development

11.4.1. Concept of Management Development
11.4.2. Concept of Leadership
11.4.3. Leadership Theories
11.4.4. Leadership Styles
11.4.5. Intelligence in Leadership
11.4.6. The Challenges of Today's Leader

11.5. Business Ethics

11.5.1. Ethics and Morality
11.5.2. Business Ethics
11.5.3. Leadership and Ethics in Companies

11.6. Sustainability

11.6.1. Sustainability and Sustainable Development
11.6.2. The 2030 Agenda
11.6.3. Sustainable Companies

11.7. Corporate Social Responsibility

11.7.1. International Dimensions of Corporate Social Responsibility
11.7.2. Implementing Corporate Social Responsibility
11.7.3. The Impact and Measurement of Corporate Social Responsibility

11.8. Responsible Management Systems and Tools

11.8.1. CSR: Corporate Social Responsibility
11.8.2. Essential Aspects for Implementing a Responsible Management Strategy
11.8.3. Steps for the Implementation of a Corporate Social Responsibility Management System
11.8.4. CSR Tools and Standards

11.9. Multinationals and Human Rights

11.9.1. Globalization, Multinational Companies and Human Rights
11.9.2. Multinational Corporations and International Law
11.9.3. Legal Instruments for Multinationals in the Area of Human Rights

11.10. Legal Environment and Corporate Governance

11.10.1. International Rules on Importation and Exportation
11.10.2. Intellectual and Industrial Property
11.10.3. International Labor Law

Module 12. People and Talent Management

12.1. Strategic People Management

12.1.1. Strategic Human Resources Management
12.1.2. Strategic People Management

12.2. Human Resources Management by Competencies

12.2.1. Analysis of the Potential
12.2.2. Remuneration Policy
12.2.3. Career/Succession Planning

12.3. Performance Evaluation and Performance Management

12.3.1. Performance Management
12.3.2. Performance Management: Objectives and Process

12.4. Innovation in Talent and People Management

12.4.1. Strategic Talent Management Models
12.4.2. Talent Identification, Training and Development
12.4.3. Loyalty and Retention
12.4.4. Proactivity and Innovation

12.5. Motivation

12.5.1. The Nature of Motivation
12.5.2. Expectations Theory
12.5.3. Needs Theory
12.5.4. Motivation and Financial Compensation

12.6. Developing High Performance Teams

12.6.1. High-Performance Teams: Self-Managed Teams
12.6.2. Methodologies for the Management of High Performance Self-Managed Teams

12.7. Change Management

12.7.1. Change Management
12.7.2. Type of Change Management Processes
12.7.3. Stages or Phases in the Change Management Process

12.8. Negotiation and Conflict Management

12.8.1 Negotiation
12.8.2 Conflicts Management
12.8.3 Crisis Management

12.9. Executive Communication

12.9.1. Internal and External Communication in the Corporate Environment
12.9.2. Communication Departments
12.9.3. The Person in Charge of Communication of the Company The Profile of the Dircom

12.10. Productivity, Attraction, Retention and Activation of Talent

12.10.1. Productivity
12.10.2. Talent Attraction and Retention Levers

Module 13. Economic and Financial Management

13.1. Economic Environment

13.1.1. Macroeconomic Environment and the National Financial System
13.1.2. Financial Institutions
13.1.3. Financial Markets
13.1.4. Financial Assets
13.1.5. Other Financial Sector Entities

13.2. Executive Accounting

13.2.1. Basic Concepts
13.2.2. The Company's Assets
13.2.3. The Company's Liabilities
13.2.4. The Company's Net Worth
13.2.5. The Income Statement

13.3. Information Systems and Business Intelligence

13.3.1. Fundamentals and Classification
13.3.2. Cost Allocation Phases and Methods
13.3.3. Choice of Cost Center and Impact

13.4. Budget and Management Control

13.4.1. The Budget Model
13.4.2. The Capital Budget
13.4.3. The Operating Budget
13.4.5. Treasury Budget
13.4.6. Budget Monitoring

13.5. Financial Management

13.5.1. The Company's Financial Decisions
13.5.2. Financial Department
13.5.3. Cash Surpluses
13.5.4. Risks Associated with Financial Management
13.5.5. Financial Administration Risk Management

13.6. Financial Planning

13.6.1. Definition of Financial Planning
13.6.2. Actions to be Taken in Financial Planning
13.6.3. Creation and Establishment of the Business Strategy
13.6.4. The Cash Flow Table
13.6.5. The Working Capital Table

13.7. Corporate Financial Strategy

13.7.1. Corporate Strategy and Sources of Financing
13.7.2. Financial Products for Corporate Financing

13.8. Strategic Financing

13.8.1. Self-Financing
13.8.2. Increase in Equity
13.8.3. Hybrid Resources
13.8.4. Financing Through Intermediaries

13.9. Financial Analysis and Planning

13.9.1. Analysis of the Balance Sheet
13.9.2. Analysis of the Income Statement
13.9.3. Profitability Analysis

13.10. Analyzing and Solving Cases/Problems

13.10.1. Financial Information on Industria de Diseño y Textil, S.A. (INDITEX)

Module 14. Commercial and  Strategic Marketing Management

14.1. Commercial Management

14.1.1. Conceptual Framework of Commercial Management
14.1.2. Business Strategy and Planning
14.1.3. The Role of Sales Managers

14.2. Marketing

14.2.1. The Concept of Marketing
14.2.2. Basic Elements of Marketing
14.2.3. Marketing Activities of the Company

14.3. Strategic Marketing Management

14.3.1. The Concept of Strategic Marketing
14.3.2. Concept of Strategic Marketing Planning
14.3.3. Stages in the Process of Strategic Marketing Planning

14.4. Digital Marketing and e-Commerce

14.4.1. Digital Marketing and E-commerce Objectives
14.4.2. Digital Marketing and Media Used
14.4.3. E-Commerce General Context
14.4.4. Categories of E-commerce
14.4.5. Advantages and Disadvantages of E-commerce Versus Traditional Commerce

14.5. Digital Marketing to Reinforce a Brand

14.5.1. Online Strategies to Improve Your Brand's Reputation
14.5.2. Branded Content and Storytelling

14.6. Digital Marketing to Attract and Retain Customers

14.6.1. Loyalty and Engagement Strategies through the Internet
14.6.2. Visitor Relationship Management
14.6.3. Hypersegmentation

14.7. Managing Digital Campaigns

14.7.1. What is a Digital Advertising Campaign?
14.7.2. Steps to Launch an Online Marketing Campaign
14.7.3. Mistakes in Digital Advertising Campaigns

14.8. Sales Strategy

14.8.1. Sales Strategy
14.8.2. Sales Methods

14.9. Corporate Communication

14.9.1. Concept
14.9.2. The Importance of Communication in the Organization
14.9.3. Type of Communication in the Organization
14.9.4. Functions of Communication in the Organization
14.9.5. Elements of Communication
14.9.6. Communication Problems
14.9.7. Communication Scenarios

14.10. Digital Communication and Reputation

14.10.1. Online Reputation
14.10.2. How to Measure Digital Reputation?
14.10.3. Online Reputation Tools
14.10.4. Online Reputation Report
14.10.5. Online Branding

Module 15. Executive Management

15.1. General Management

15.1.1. The Concept of General Management
15.1.2. The Role of the CEO
15.1.3. The CEO and their Responsibilities
15.1.4. Transforming the Work of Management

15.2. Manager Functions: Organizational Culture and Approaches

15.2.1. Manager Functions: Organizational Culture and Approaches

15.3. Operations Management

15.3.1. The Importance of Management
15.3.2. Value Chain
15.3.3. Quality Management

15.4. Public Speaking and Spokesperson Education

15.4.1. Interpersonal Communication
15.4.2. Communication Skills and Influence
15.4.3. Communication Barriers

15.5. Personal and Organizational  Communications Tools

15.5.1. Interpersonal Communication
15.5.2. Interpersonal Communication Tools
15.5.3.  Communication in the Organization
15.5.4. Tools in the Organization

15.6. Communication in Crisis Situations

15.6.1. Crisis
15.6.2. Phases of the Crisis
15.6.3. Messages: Contents and Moments

15.7. Preparation of a Crisis Plan

15.7.1. Analysis of Possible Problems
15.7.2. Planning
15.7.3. Adequacy of Personnel

15.8. Emotional Intelligence

15.8.1. Emotional Intelligence and Communication
15.8.2. Assertiveness, Empathy, and Active Listening
15.8.3. Self-Esteem and Emotional Communication

15.9. Personal Branding

15.9.1. Strategies for Personal Brand Development
15.9.2. Personal Branding Laws
15.9.3. Tools for Creating Personal Brands

15.10. Leadership and Team Management

15.10.1. Leadership and Leadership Styles
15.10.2. Leader Capabilities and Challenges
15.10.3. Managing Change Processes
15.10.4. Managing Multicultural Teams

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