Controlling and Financial Management, Master of Arts

Who is the Master’s in Controlling and Financial Management (M.A.) suitable for?

The master’s degree programme Controlling and Financial Management at CBS University of Applied Sciences is aimed at graduates of a first degree in economics who wish to specifically expand their expertise in the areas of controlling, financial management and corporate governance. It is especially targeted at individuals who are aiming for a career in controlling, finance and accounting, strategic corporate management, or consulting. The programme is suitable for career starters who want to prepare specifically for responsible positions in industry, trade, the service sector, or financial service providers. It also offers a solid, practice-oriented qualification path for those with initial professional experience who wish to take on leadership responsibilities in finance.

Admission requirements for the Master’s in Controlling and Financial Management

• Degree: Generally, admission requires a first university degree (bachelor’s or equivalent) in economics, such as business administration, economics, business law or business informatics.
• Grade: A specific numerus clausus (NC) is not provided. Applications are accepted without a fixed minimum grade.
• Personal selection procedure: Instead of a rigid NC, a personal selection interview or assessment interview takes place, in which motivation, expertise and potential are evaluated.
• Language skills: Since the language of instruction is German, sufficient knowledge of German is required (foreign applicants may need to provide proof).
• Application process: Applications are submitted via an online procedure. Admission is generally possible all year round (rolling admission), with the actual start of studies usually in the winter semester.
• Degree certificates: If the final certificate is not yet available at the time of application, a provisional, current certificate can be submitted.

Personal requirements and recommended competencies

• Solid basic understanding of economic contexts as well as analytical thinking
• Interest in numbers, data and their analysis in the context of business decisions
• Willingness to engage with complex financial topics, risk management and corporate accounting
• Strong communication skills and ability to work in a team – especially in practice-oriented projects and in exchange with fellow students and corporate partners
• Independent working style and high motivation to take on responsibility in business processes
• Openness to digital tools and innovation in finance
• Optional: First practical experience in business, controlling, accounting or consulting supports a rapid start, but is not mandatory

Master’s in Controlling and Financial Management – Detailed Curriculum

In the Master’s programme in Controlling and Financial Management at CBS University of Applied Sciences, you will acquire solid business administration knowledge with a specialisation in modern financial planning, company valuation, and strategic controlling. The content combines theoretical foundations with practical applications. Current analysis and strategy tools as well as digital management methods are employed.

• Value-oriented Corporate Management: Key figure-based control and sustainable company valuation.
• Controlling & Performance Management: Management of business processes and performance measurement.
• Company Valuation: Analysis of company values, application of valuation methods.
• Financing & Cost of Capital: Planning of capital structure and evaluation of investment projects.
• Risk Management: Identification, analysis and control of financial risks.
• Function-oriented Controlling: Specific controlling approaches for different business areas.
• Case Lab & Business Project: Real case studies and project work with companies from practice.
• Analysis & Strategy Tools: Quantitative methods to support decision-making processes.
• Digital Management & Change Management: Integration of digital strategies and change processes in companies.
• Investment and Financing Calculations: Evaluation of investment projects and financing.
• Annual Financial Statements Analysis & Corporate Accounting: Analysis of balance sheets and profit and loss accounts.
• Cross-disciplinary Competences: Foreign language training, creativity, innovation, team and self-management, leadership behaviour.
• Elective Areas: Deepening individual interests through elective courses.
• Connectors to Related Fields: Corporate Social Responsibility, Business Law, International Marketing, Human Resource Management, Economics, Global Supply Chain Management.
• Master’s Thesis: Independent academic in-depth study of a key topic from the field of controlling and financial management.

The curriculum is structured over four semesters with 120 ECTS credits and promotes the direct application of knowledge through business projects and a management simulation game.

How is the course structured?

The Master’s programme lasts four semesters and takes place as on-campus study at the Cologne location. You begin each winter semester. The course comprises subject modules from the areas of controlling, financial management as well as relevant interdisciplinary topics. Practical elements such as project work and real case studies are a central part of the course progression.

• Focus on practical application with business projects and simulations.
• Integration of current topics such as digitalisation and corporate responsibility.
• Multiple choices for individual specialisation.
• You complete the degree with a Master’s thesis (24 ECTS) in the fourth semester.
• Foreign languages and soft skills complement the specialised modules.

Which professional fields are open to you?

After completing the Master’s in Controlling and Financial Management, you will have qualifications that prepare you for numerous challenging positions in finance departments, management consultancies and auditing firms. Typical fields of employment include:

• Controller: Analysis of financial data, budgeting, cost management, controlling of business units.
• Financial Analyst: Evaluation of investments, risk analysis, preparation of financial reports.
• Head of Finance / Finance Department Manager: Development and management of financial strategies, leadership of finance teams.
• Risk Manager: Identification and management of financial risks, development of hedging strategies.
• Corporate Treasury, Accounting and Internal Audit: Management of liquidity and cash flows, auditing and optimisation of business processes.
• Consulting and Auditing: Audit tasks, tax consulting, strategic advising, restructuring.
• Financial Services Industry: Activities in investment banking, fund management, asset management.
• Public Administration and NGOs: Tasks in controlling, accounting and risk management.

The Master’s degree opens career opportunities domestically and internationally and provides a solid foundation for further qualifications in finance and controlling.

Study location: Cologne

The programme takes place at the CBS University of Applied Sciences campus in Cologne. The location offers a modern learning environment and good connections to businesses and companies in the region. As a student, you also benefit from the CBS network with corporate partners and an active campus life.

Cost overview and financing options

• Total costs: 34,380 Euro (for 4 semesters standard period of study)
• Semester fees: 5,730 Euro per semester
• Monthly payment: 955 Euro monthly payment possible
• Financing: Options via BAföG, education loans, scholarships or low-interest loans

Various funding opportunities are available for full-time study. Advice on individual financing solutions is offered directly by CBS.