Majors and Minors Accounting and Finance (TEW/MBE/MAR) March 16, 2016

‘Future selves’ of AFI students

CFO/Controller Accounting and financial management Banker/Regulator Financial markets, institutions, risk and regulation Auditor/Controller Accountancy and auditing

AFI Master education Career outlook - In the short run: financial analist, controller, auditor, consultant, corporate finance expert - In the long-run: CFO of a medium sized enterprise Profile of CFO 1

AFI Master education Training in accountancy and finance Praktijkcollege in Accountancy en financiering Accountancy: Auditing, Strategisch management accounting Finance: Strategic Financial Management, Beleggingsleer en financiële producten Profile of CFO 1 TEW Major A&F

AFI Master education Further specialization in accountancy and/or finance - Accountancy: International accounting, Risk management and control, Deontologie van accountancy en revisoraat, International Accounting standards and Special topics in accounting, Vennootschapsbelasting, Belasting over toegevoegde waarde, Boekhoudrecht - Finance: International Business Finance, Financial Statement Analysis and Valuation, Trading and exchanges, Credit and banking, Business finance, Risk management in financial institutions Profile of CFO 1 TEW Minor A&F

AFI Master education Masterpaper setup (15 stp) - Research paper of 30 pages - In groups of two students - Defense during a poster session - Research seminar (o.a. databases, methodology, statistical software) Profile of CFO 1

AFI Master education Masterpaper topics - Audit committee replacement following opportunistic insider trading - Reputation in Managerial reporting: Honesty and Capability - Audit partner rotation: evidence for the Belgian audit market - Financial constraints and innovation - The effect of the Notional Interest Rate Deduction on the capital structure of Belgian firms - The determinants of the choice between a formal liquidation and a formal reorganization procedure Profile of CFO 1

AFI Master education Career outlook - In the short run: financial analist, consultant in financial services, corporate banker, asset manager, trader, asset and liability manager - In the long-run: executive in a financial services company/regulator, financial expert Profile of banker/regulator 2

AFI Master education Training in financial economics - Markets: Macro-finance, Security pricing and portfolio selection - Banking: Credit and banking - Corporate finance: Business finance Profile of banker/regulator 2 MBE Major FE

AFI Master education Further specialization in financial economics - Corporate finance: Financial statement analysis & valuation, International business finance - Financial institutions: Risk management in financial institutions, Economics of financial intermediation - Markets: Trading and exchanges Profile of banker/regulator 2 MBE Minor FE

AFI Master education Further specialization in Accountancy/Auditing - Accountancy: International Accounting, Reporting for Banks, Reporting for insurance companies, Risk management and control - Auditing: Introduction to Auditing and International Auditing Standards Profile of banker/regulator 2 MBE Minor Acc.& Aud.

AFI Master education Masterpaper setup (15 stp) - Research paper of 30 pages - In groups of two students - Defense during a poster session - Research seminar (o.a. databases, methodology, statistical software) Profile of banker/regulator 2

AFI Master education Masterpaper topics - Return predictability of Bitcoin/USD - Liquidity risk and multiple venues - Uncertainty and Systematic Risk in banking - Business models of banks in the new regulatory context: the ideal sweetspot for capital, liquidity and leverage? - Stress tests and banks’ incentives for private information disclosure Profile of banker/regulator 2

AFI Master education Career outlook financial manager Auditor controller Information manager (tax) consultant Profile of auditor/controller 3

AFI Master education Profile of auditor/controller 3 Training in Accountancy and Auditing: Auditing, International Accounting, Risk Management and Control, Management Accounting, Externe financiële verslaggeving, Consolidatie en financiële bedrijfsdoorlichting, Econometrische modellen Master A&R

Further specialization in − Accountancy: Deontologie van accountancy & revisoraat, Strategisch Management Accounting, International Auditing Standards, Boekhoudrecht, Reporting for Banks, Reporting for Insurance Companies − Law: Vennootschapsrecht, Sociale wetgeving, Belasting over de toegevoegde waarde, Personenbelasting, Vennootschapsbelasting, Fiscaal procesrecht, Fiscaal vermogensbeheer, International Taxation,… Profile of auditor/controller 3 AFI Master education

Further specialization in − Information management: Grondslagen van de beleidsinformatica (basis), Business Information Systems of Beleidsinformatiesystemen (basis), Principles of database management, Knowledge management and business intelligence Profile of auditor/controller 3 AFI Master education (cont’d)

Masterpaper setup (15stp) - Praktijkcollege Accountancy (3 stp) - Research paper of 30 pages (12 stp) - In groups of three students - Defense during a poster session - Research seminar (o.a. databases, methodology, statistical software) Profile of auditor/controller 3 AFI Master education

Masterpaper topics - Audit Committee Chair versus CEO Power and Earnings Quality - TARP banks and their auditors - Internal control deficiencies and Earnings Reliability: the role of the auditor - Audit partner rotation: Evidence for the Belgian bank audit market - Audit firm rotation and market entry Profile of auditor/controller 3 AFI Master education