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Profile of Programme

The academic program follows the standards of leading universities in Europe and North America. The primary aim of the program is to equip students with the skills, knowledge and expertise in accounting, auditing, tax, finance and commercial law for rational decision making in the constantly changing international economic and business environment.

The Accounting and Finance department has close links with international professional bodies such as the Institute of Chartered Accountants in England and Wales (ICAEW), and the Association of Chartered Certified Accountants (ACCA). This cooperation provides graduates with up to twelve (12) exemptions from the professional examination of the ICAEW and nine (9) exemptions from the professional examination of the ACCA. From September 2020, students who are selected to enroll in a specific program will have the opportunity to obtain the ACCA qualification while studying at the University of Cyprus. To achieve this, students will need to pass four (4) external ACCA exams during the summer months.

Graduates of the Department have repeatedly excelled in these examinations. In the ICAEW examinations in particular, our graduates have won more than 10 global awards in the last five years, (for example, first Worldwide Award – Professional Stage overall, and other first Professional Stage global awards in auditing and tax courses as well as Advanced Stage global awards). We also note, that recent analysis carried out by the ACCA has shown that our graduates exhibit the highest passing rate among graduates of all other Universities.

The degree in Accounting provides excellent training for a successful career in Audit firms, in the fields of accounting, auditing and taxation as well as in banks, semi-government, public and other private organizations. Moreover, Audit firms provide our students with opportunities to apply and extend their knowledge through internship programs. Specifically, since the spring semester of 2018, the Accounting and Finance department launched a five-month internship program with the country’s largest audit firms which takes place in the Spring semester of the students’ third year of studies. During the internship period, students are employed on a full-time basis as accounting trainees, enabling students to combine their academic knowledge with practical application, gaining valuable experience that will enhance their academic knowledge and broaden their career prospects. Students also have the option of a shorter internship program during the summer holidays (summer internship), or even to extend their internship by one more semester typically in the spring semester of their fourth year.

Graduates of the accounting program also acquire the relevant qualifications and skills to continue their studies in graduate Master or Ph.D. programs. A number of our graduates elected to continue their studies at leading universities in the United Kingdom and North America.

Key Learning Outcomes

By obtaining their degree, Students should be able to:

  • Master a sound knowledge and understanding of the field of public and business administration in general, and of financial management and financial information in particular.
  • Develop their critical and analytical thinking so that they can judge complex situations and respond effectively to them.
  • Diagnose, analyse and solve financial issues faced by businesses in the modern and complex international economic environment.
  • Continuously readjust to current circumstances in line with technological, professional and legal developments.
  • Apply their knowledge and understanding of the material taught in practical real world problems.
  • Develop the skills necessary to address the ethical issues encountered by the sector.
  • Communicate effectively and clearly the results of their analyses, via presentations required throughout their studies.
  • Apply financial theory to evaluate financial data and take effective decisions.
  • Successfully deal with postgraduate programs both at home and abroad after completing the bachelor’s degree.
  • Successfully deal with professional examinations (including ACA, ACCA and CFA) after completing the bachelor’s degree.

Key Information

Department: Department of Accounting and Finance

Faculty: Faculty of Economics and Management

Programme Name: Business Administration direction in Accounting

Direction: Accounting

Level of Qualification: 1st Cycle (Bachelor's Degree) [8 Semesters]

Mode of Study: Full time

Language of Instruction: Greek

Coordinator: Professor Irene Karamanou 

Curriculum Structure

Course Type ECTS
Core Courses 111
Specialized Courses Depth 36
Specialized Courses Breadth 12
Specialized Courses 14
Restricted Elective Depth 18
Restricted Elective Breadth 30
Free Elective 20

Courses per Semester


The above timetable is indicative and may be modified, given that the requirements of the study program will be met.

Optional Thesis
Students with a GPA of 7 or higher may elect to undertake a thesis in lieu of a breadth course and a depth course from the requirements shown above.

Students who elect to intern during an academic semester based on the department’s approved internship programs, will have to register for the course AFN 313, (6 ECTS), during the internship semester. Students who continue their internship for a second semester should register for AFN 413, (6 ECTS). Each of these internship courses replaces either a depth or a breadth course. During the semester of the internship students are NOT allowed to enroll in other courses. Exception to enroll in ONE course only may be granted under very strict conditions and only with the consent of the student’s academic advisor. Students who are interested in the internship programs for two semesters are advised to consult with their academic advisor as early as possible so that they can appropriately plan their schedule.

ACA and ACCA exemptions
Exemptions for the ΑCA (12 out of 15 exams)
Exemptions for the ACCA (9 out of 13 exams)

Conditions of Study

The vast majority of newly admitted undergraduate students enter the University of Cyprus following Pancyprian Examinations organised by the Ministry of Education and Culture for admission into establishments of higher education.
Admission based on Special Criteria: Candidates who have taken the Pancyprian Examinations and who meet certain special criteria, as these are set out in the Rules and Regulations of Academic and Student Affairs, may seek a limited number of places (14% of Cypriot admissions).
· Top athletes and persons distinguished in International Olympiads: Athletes with top distinctions in sports, as defined by the Council of the University of Cyprus or who have won 1st 2nd or 3rd place medals in International Olympiads (e.g. Mathematics, ICT, Biology, etc.), may be admitted into Departments of Cyprus University without examinations simply on the basis of their Lyceum Leaving Certificate.
· Entry on the basis of Panhellenic Examinations: 10% of the total number of places offered through the Pancyprian Examinations may be taken up by candidates passing the Panhellenic Examinations.
Entry on the basis of International Examinations
An additional number of places (3%) of admissions from Cyprus may be sought on the basis of the results of international examinations such as GCE, Baccalaureate or other equivalent examinations, by Cypriots belonging to the Republic’s official religious groups, repatriated Cypriots, Cypriots who reside permanently abroad, Greeks of the diaspora, children of officials of the Cypriot Foreign Service and foreign citizens from EU states or countries outside the European Union.
Turkish-Cypriots Turkish Cypriot graduates of six-grade secondary schools are admitted on the basis of their school-leaving certificate or after passing special written or oral examinations organised by the competent Department. Transfers/Second Degree Every year Cyprus University offers a limited number of places for internal/external transfers and for obtaining a second degree.

Students must always advise the University's' Undergraduate Study Rules  

The Program is based on the European System of Credit Transfer and Accumulation (ECTS). The degree is awarded after the successful completion 240 ECTS.  For the course requirements to meet this condition please refer to the Curriculum Structure section of the specific degree.

The final grade of an undergraduate student, and consequently the grade of his Degree (Excellent with Distinction (9.5-10), Excellent (8.5-9.49), Very Good (6.5-8.49), Good (5.5-6.49) and Satisfactory (5-5.49) is calculated as the weighted average of all the courses that the student has successfully completed.The weighting is based on the hours of each course. 

Further Information

Occupational Profiles of Graduates with Examples

The Department is extremely satisfied with the high employment rate and the increased employment prospects of its graduates. Τhis is a result of: a) the excellent academic training of its students; b) the great demand for specialized personnel in the fields of financial management and information; c) the very good relationships that the Department has with a large number of organizations active in its field; d) the success of the internship program.

Indicatively, in most cases, trainees who participate in internships receive employment contracts at the end of their first internship semester. Also, the audit firm PwC offers employment contracts to the students the firm selects for internship before the students even begin the internships with the organization.

Other holders of the Bachelor degree of Business and Public Administration with specialisation in Accounting or Finance who are not placed in an organization during their studies are soon employed after graduating at responsible positions in a wide range of businesses and organizations, both in the private and public sectors.

Equally important is the fact that the graduates of the Department are remunerated with competitive salaries and are highly likely to be promoted to management positions in the future.

Access to Further Studies

Graduates of the accounting program also acquire the relevant qualifications and skills to continue their studies in graduate Master or Ph.D. programs. A number of our graduates elected to continue their studies at leading universities in the United Kingdom and North America, which further strengthens their prospects for employment.