Studies type:

Master's Degree Programs

Study mode:

online, full-time, part-time

Study duration:

2 years (4 semesters)



Language of studies:

Polish, English


AFiB Vistula

  • More information is available at the New Students section. Call us at: +48 510 858 087, or e-mail us at:

    Vistula University offers the best education available. Our expert faculty of experienced practitioners, internationalised courses, and openness for other cultures, will enable you to look at finance and accounting from a different perspective. In addition, you will expand your knowledge of financial institutions, and analyse economic and economic-financial phenomena – this is what you can expect, if you choose to study Finance and Accounting with ACCA at the Master’s level.

    The Master’s programme is ideal for all those who have already obtained a Bachelor’s degree in economics, and who would like to develop further, and become an expert on finance and accounting. This programme is also perfect for those with a Bachelor’s degree in Finance and Accounting, and, thanks to the support of the entire faculty and how the curriculum is structured, for graduates of other programmes as well.

    The Finance and Accounting with ACCA (Master’s level) programme ensures that you will not only solidify the knowledge base gained, during your Bachelor’s studies, but you will pick up new, expert knowledge, as well. You will delve into macro-economics and financial processes at the corporate, state, EU and international levels. You will learn how to correctly assess the phenomena and processes occurring in finance and accounting. You will learn how to create financial reports, develop business plans, conduct valuations and assess investment projects. You will acquire the skills necessary to prepare financial plans and budgets, in addition to managing assets and liabilities in financial institutions.


    The Finance and Accounting field of study has been awarded the prestigious ACCA qualification. Graduates who have successfully completed ACCA modules are eligible for exemption from all ACCA examinations within the Fundamentals level, which means that they can directly start the ACCA professional qualification process and thus sooner become members of this international organization certifying accounting and finance specialists. The ACCA qualification boosts our students’ employability both in Poland and abroad.

    The ACCA qualification is granted only to those universities whose programmes and exams meet the high requirements set by this organization.

    Degree holders of Finance and Accounting automatically complete four modules required by ACCA. Students can obtain the remaining 5 modules passing relevant exams prepared in accordance with the requirements of this organization.

    More information on ACCA:

    In the Perspektywy University Rankings 2021, the Finance and Accounting Faculty conducted by Vistula University, took 2nd place when compared to all non-public universities, responsible for such studies in Poland.

    The Finance and Accounting field of study at Vistula University is accredited by CEEMAN IQA (International Quality Accreditation). It is one of the most prestigious and respected international accreditations in the field of managerial education. Obtaining it confirms Vistula’s compliance with the highest international standards in the crucial areas of efficient operation, high-quality education and research, and a good level of teaching. Thanks to CEEMAN IQA’s accreditation, brand recognition and the value of the Vistula University diploma, in Poland and abroad, is growing. Students, therefore, have a better chance of satisfactory employment, and graduates can be sure that their knowledge and highly developed social and managerial competencies will be appreciated in the business environment.

    Finance and Accounting with ACCA – Bachelor’s Degree and Master’s Degree studies at Vistula University have once again been appreciated by the Polish Accreditation Committee. The programmes received positive assessments. This is proof of the universities’ desire for a high level of education.

    The Commission underlines that Finance and Accounting with ACCA programmes have been developed, taking into account both the needs of students and the socio-economic environment, in particular, the labour market. It also highly values the competencies, experience, and qualifications of the academic lecturers. It draws attention to the modern teaching and research infrastructure, constant and varied co-operation with the business environment, including employers, and comprehensive activities in supporting students.

    The curriculum of the Finance and Accounting with ACCA programme has been designed with market requirements in mind. The courses are taught by our expert faculty, which includes both reputable academics and veteran practitioners. This means that the sub-major you choose, will not only allow you to greatly expand your knowledge, but also you will acquire a set of practical skills, related to the two vast areas – finance and accounting.

    Eager, ambitious students can pursue 9 ACCA modules.

    Studying Finances (Master’s programme) will enable you to more fully comprehend the financial sector, with an emphasis on the international aspects of banking.

    Studying Accounting (Master’s programme) will let you dive deep into the field and will prepare you to work as an accountant. After obtaining the accounting certificate awarded by the Minister of Finance, you will also have the option of establishing your own accounting firm.

    You want to gain extensive knowledge of Finance and Accounting, therefore, you choose to enrol in the Master’s programme. Vistula University wants you to develop, and so the Master’s programme involves non-obligatory internships. These will teach you how to apply theory to real-world situations, as well as enabling you to acquire the skills necessary in your future career. With the help of our Careers Office and the Erasmus Plus programme, you will be able to do your internship in Poland or abroad.

    Studying at the Master’s level at Vistula University, will provide you with the knowledge necessary, to quickly become an expert on finance and accounting.

    • List of obligatory classes

      The curriculum of Master`s Degree Studies consists of general courses obligatory to all the students regardless of their major. Students study also major courses and elective courses. The general courses include:

      • Compendium of knowledge of economic sciences
      • Monetary policy
      • Managerial economics
      • Diploma seminar
      • Communication and argumentation techniques,
      • Advanced techniques for writing work
      • Foreign language

    • List of major classes
      • Monetary policy
      • Financial reporting standards
      • Credit institution management
      • Investment portfolio
      • Cost accounting
      • Managerial accounting
    • Check the ACCA modules
      1. Business and Technology
      2. Management Accounting
      3. Financial Accounting
      4. Corporate and Business Law
      5. Performance Management
      6. Taxation
      7. Financial Reporting
      8. Audit and Assurance
      9. Financial Management

      Modules included automatically based on diploma

      1. On the basis of Performance Management
      2. On the basis of VAT in Accounting & VAT Settlements PLUS Tax Accounting
      3. On the basis of Financial Reporting Standards
      4. On the basis of Audit and Assurance
      5. On the basis of Corporate Finance – Financial Management
  • The Vistula University offers the following specialisations in Master degree studies at F&A study field:

    • Tax consulting and tax control
    • Financial analyst
    • Banking and financial service II
    • Internal audit
    • Investment consulting


    Students get an understanding of a tax system and its functioning, define tax risk and find out tax merits and functions. They study features of specific taxes against the background of the regulations in the other EU countries. They master skills of description of economic entities tax burden, as well as discover financing strategies of the companies, i.a. tax strategies, minimalization of tax expenses or its optimisation. Tax optimisation is connected with the sources of funding of the companies, taxation system influences the company’s value and its leveraging. This specialization has a fundamental influence on developing rational behaviour of the businesses and comprehension of rules governing financing area.

    Participants can evaluate effectiveness of the funds allocation in the financial and non-financial entities.

    • List of classes in the tax consulting and tax control major

      Major courses

      • Tax Systems and Tax Law
      • Tax Accounting
      • Tax Settlements
      • Control of Tax

      The knowledge gained during studying this major and skills related to effective tax management provides an appropriate grounds for tax advisor’s job very needed in quickly changing tax law and economic environment. An alumnus may look for employment in accounting offices, real estate offices, consulting firms, a tax advisory, notary offices and bailiffs offices, law firms, companies as a manager, a tax advisor, a tax settlement specialist, an internal auditor, an accounting specialist, a controlling specialist, a business analyst.


    A graduate has theoretical knowledge about models, theories and principles formulated in the area of finance and accounting, as well as their relation with the real economy. He/she can use this knowledge in practice of corporate financial management, has advanced understanding of various types of institutions and research in finance and accounting, knows selected methods and  descriptive tools, including data sourcing, modelling techniques in finance and accounting, analytical methodology for business planning and risk measurement in economic and financial activity. He/she can assess performance effectiveness in the financial and non-financial entities, i.a. using management accounting, performance management, controlling, strategic analysis and economic and financial analysis. He/she can indicate weaknesses and threats for companies, as well as identify development opportunities.

    • List of classes in the financial analyst major

      Major courses

      • Advanced financial accounting
      • Tax accounting
      • Advanced economic and financial analysis
      • Strategic analysis

      Financial analysts find employment in consulting firms, accounting offices, law firms, companies and financial institutions as a development and market analysis specialist, a settlement specialist, a risk management specialist, a business analyst, a tax advisor, a real estate valuator, a marketing specialist.


    Banking and Private  Wealth is specialization focusing on knowledge of bank products and risk assessment. A student gains understanding in particular of risks in banking and their influence on economic results of a commercial bank, knows principles of commercial banking sector, in particular its retail business, have an idea of capital operations and understands private banking rules. A student has ability to present and explain private banking products; can calculate profitability of offered products and alternative investment forms, is able to explain functioning and offer structured products, as well as derivatives. Therefore it is a major focused on developing practical skills, selling techniques and negotiations within consulting activity. A graduate has capability of securing the bank against all kinds of risk related to private wealth activity. He/she possesses selling and negotiation skills of banking products for individual customers.

    • List of classes in the banking and financial services 2 major

      Major courses:

      • Risk management bank
      • Alternative investments
      • Structured products and derivatives
      • Sales and negotiation skills in banking

      The knowledge, skills and competences entitle an alumnus to apply for employment in big commercial banks, in cooperative banks, in financial intermediaries.

      Graduates may apply for positions of: a account manager, a credit analyst, a corporate account manager, a risk assessment specialist, an assets and liabilities management specialist, a bank products analyst.


    A graduate will gain knowledge and will be qualified for a position of an internal auditor, as well as for a job in a public and private sector control. The major includes issues such as: professional standards, long-term planning and risk assessment in audit, audit activity and legal aspects.  

    In order to become an internal auditor and be able to perform work consisting of management system control and its ability to achieve certain goals, the general knowledge should be improved. After graduation a student will be able to enhance possessed information and participate in the audit workshop at post-graduate studies finalized with certificate, as well as Internal Auditor certificate II degree of Polish Internal Audit Institute (confirming qualifications to perform internal auditor’s job) and will be included in the list of professional internal auditors.

    • List of classes in the internal audit major

      Major courses

      • Professional standards
      • Long-term planning and risk assessment in internal audit
      • Internal audit methodology
      • Detection of frauds
      • IT audit  

      An alumnus from this major will find employment in:

      Internal audit departments in financial institutions, companies and local and central administration, specilized units creating and implementing internal financial control systems, central administration units, such as ministries, central administration, regional, custom, treasury, as well as local administration units, all kinds of entities using structural funds as person dealing with control of appropriate EU funds raising and its use.

  • Mirosław Bojańczyk

    Mirosław Bojańczyk, PhD

    A long-time lecturer at the Warsaw School of Economics (SGH) and other schools. He currently works as Professor at the Vistula University and Head of the Educational Programme in charge of the ACCA accreditation. For more than 30 years, he has collaborated with practitioners in the fields of Science and Business. His research areas include finance and accounting, capital markets, investment funds, business valuation and controlling. He authored more than 70 publications in Polish and English. He boasts extensive practical experience. Among others, he worked as Chief Financial Officer for several companies, Director of Citibank Polska, President of one of the National Investment Funds, Vice President of PTE (pension fund management company), Deputy Director of the Banking System Department at the Ministry of Finance, and member of the Securities and Exchange Commission. He also served as Supervisory Board member of several companies, including Polski Bank Rozwoju and Izolacja Zduńska Wola (both listed on the Warsaw Stock Exchange).
    USOSweb lecturer’s profile

    Andrzej Janowicz, PhD

    Lecturer in different areas of economics, primarily interested in problems related to investments in the money and capital market, scientific supervisor of numerous bachelor’s and master’s degree theses.

    Barbara Karlikowska

    Prof. Barbara Karlikowska, BEng, PhD

    Dean of the Faculty of Business and International Relations. Doctor of economic sciences (Institute of Finances of the Vistula University); a graduate of Warsaw University of Life Sciences; she has also completed the Polish-British Insurance Studies and Postgraduate Studies in Accounting, earning license of an Insurance Broker and Independent Accountant; since 1998, she has been an academic teacher; an author and a co-author of many scientific works in the field of risk management; she is a participant of the grant of the Ministry of Science and Higher Education – Innovative Poland in Europe of 2020.

    Tomasz Kociołek, MA

    Chartered accountant having over 18 years of practical experience in accounting and auditing of financial statements according to Polish and international accounting principles. He has also provided transaction and assurance services for clients, including listed companies.

    Member of ACCA, Certified Internal Auditor (CIA), certified accountant of the Accountants Association in Poland, currently a PhD student at Vistula University.

    Author of numerous articles and expert opinions in the field of accounting published in, among others, “Rzeczpospolita” and “Dziennik Gazeta Prawna”. Expert in the Jacek Kuroń Competition for the Best Social Enterprise and the program “Drogowskaz dla NGO. Profesjonalizacja trzeciego sektora poprzez wypracowanie i upowszechnianie zasad zarządzania finansowego” (Signpost for NGOs. Professionalization of the third sector through the development and dissemination of financial management principles).

    His scientific activity covers research in the field of financial accounting and auditing, with particular emphasis on non-profit entities.

    Conducted courses: Fundamentals of Finance and Accounting, Ethics and Professional Standards (in Polish and English), Internal Audit Methodology, Audit and Other Assurance Services (full-time, part-time and post-graduate studies with ACCA accreditation), Audit and Assurance (in Polish and English).

    USOSweb lecturer’s profile

    Nicolas Levi, PhD

    MBA ESSEC-SGGW. PhD in Social Sciences. Investment analyst with many years of experience. Since 2008, economic advisor to French entities investing in Poland. Since 2016, an external consultant for the Korea Institute for International Economic Policy. Author of expert opinions on the Polish economy. His scientific research comprises issues related to the economy of Poland, the Korean Peninsula and France. Author of about 40 scientific publications in the field of economics, finance, and international relations. Supervisor of bachelor’s and master’s theses. Assistant supervisor for PhD theses.

    USOSweb lecturer’s profile

    Prof. Ryszard Michalski, PhD

    Director of the Research Institute in the discipline of economics and finance. Graduate of the Faculty of Foreign Trade of the Central School of Planning and Statistics (today SGH); in years 1988-1995 at the Ministry of Finance, also as a vice-minister; in years 1995-1999 in the private sector and various academic institutions; from July 2002 until May 2004, again a vice-minister of finance, responsible for financial negotiations with the European Union, management of the public debt and cooperation with the National Bank of Poland; in years 2007-2016, director of the Institute of Market Research, Consumption and Business Cycles in Warsaw; since 2012, professor of the Vistula University.

    Grzegorz Michalski, MA

    Graduated in the field of economics from Maria Skłodowska-Curie Warsaw School. Postgraduate studies with doctoral seminar in the field of risk management in the Economics Faculty of the Finance Academy in Warsaw. The main subject of studies is the statistical analysis of financial markets with the use of the portfolio theory. He has long been conducting classes in subjects such as mathematics, statistics, econometry and investment portfolio. He is also interested in digital electronics (programming of microprocessors) and information technology.

    Monika Różycka, PhD

    PhD from the Academy of Finance and Business Vistula in 2019, master’s degree in economics, specialty: corporate finance and accountancy, in 2010. Postgraduate Studies in Accountancy completed at the Warsaw Academy of Finance in 2011. Postgraduate Studies with doctoral seminars at the Academy of Finance and Business Vistula in Warsaw in the methodology of research in economic sciences completed in 2014. In the academic year 2012/2013 she completed a scientific internship at the School conducting classes in a variety of subjects from the area of accountancy and taxes. In March 2013, thanks to the work done while giving classes, she found herself,  by the decision of students, among the best teachers of the School, taking the 1st place in the category of the largest didactic units. She is an academic lecturer in the Academy of Finance and Business Vistula. In June 2013, she opened a doctoral procedure in economic consequences of changes to the tax on goods and services as well as its influence on the functioning of SMEs in Poland. In February 2019, her doctoral dissertation was accepted by Faculty Board. For over twenty years she has been professionally involved in accountancy. She has been chief accountant in limited liability companies. She conducts trainings in taxation a few times a year.

    Małgorzata Smoleń-Bojańczyk, PhD

    Extensive, long-time practice in corporate finance and accountancy. She worked as auditor, financial controller, finance manager and chief accountant in Polish and international enterprises. She completed studies in economics and tax law as well as courses in the field of International Financial Reporting Standards. Holder of the Ministry of Finance accounting certificate (no. 48687/2011). Language certificates: English – EMI Cambridge Certificate, LCCI 3, good knowledge of German and Russian). Doctoral procedure opened in the Academy of Finance and Business Vistula on ‘Teoria agencji a znaczenie ujawnień informacyjnych w świetle nowych wymogów  stawianych korporacjom  w USA i UE po roku 2000’ (Agency theory and the significance of information disclosures in light of new requirements to be satisfied by corporations in the USA and EU after 2000) planned to be completed in 2019. She conducts classes mainly in English in different areas of accountancy, corporate finance and financial reporting.

    Renata Sokołowska, PhD

    PhD in research sciences, working in the Ministry of Finance. Research interests: taxation systems in Poland and in the world, PIT, CIT, VAT, fiscal offenses, fiscal accounting and budget accounting. Classes held in the Polish and English language – ACCA subjects: fiscal accountancy, VAT and VAT settlements, taxation system in Poland and management accountancy, tax settlements, fiscal control. Scientific supervisor of diploma theses in the field of tax studies, selection of the best form of small business taxation, development of accountancy, harmonization of Polish tax legislation with EU regulations.

    Prof. Jolanta Zombirt, PhD

    A graduate of Higher School of Economics in Krakow (currently the University of Economics in Krakow) and the Jagiellonian University (Oriental studies). She is a specialist in new financial techniques, management of bank risk in the context of evolution of bank regulations and bank strategies in the era of globalisation of financial markets; in years 1976-1991, she worked for the Foreign Trade Building Enterprise BUDIMEX; in 1993, she was an advisor to the minister (Jan Krzysztof Bielecki) at the Office for European Integration and Foreign Assistance; in 1994, she was an advisor to the president of Powszechny Bank Kredytowy, and in 1996 – to the president of Bank Handlowy in Warsaw; in years 2002-2007, she worked as the chief specialist for Development of Financial Markets at the Department of the Financial System of the National Bank of Poland; she was also a manager of the Unit of the Financial System of the EU at the Institute of European Studies of the Jagiellonian University.

    USOSweb lecturer’s profile

    The curriculum of the Finance and Accounting with ACCA programme has been designed so that you can become an expert in your chosen field. Practical courses, a curriculum tailored to global needs, and an expert faculty, ensure that you receive comprehensive knowledge of your chosen aspects of the financial sector. This knowledge will, in turn, enable you to obtain the certificates necessary in your dream career.

    See for yourself that Vistula is the best University in practice. Find out the benefits of studying Finance and Accounting with ACCA.


    Expert knowledge
    The Master’s programme in Finance and Accounting with ACCA is centred around expanding your knowledge of your chosen sub-field. This knowledge is shared by our highly qualified faculty. As a graduate of this programme, you will not only gain extensive and specialised knowledge of your chosen area, but you will also discover how to use this knowledge in real-world scenarios.

    Global possibilities
    The possibility to collaborate and share experiences with foreign students, will open you up to different cultures. The curriculum emphasises the international financial markets, for which, we will also prepare you to work abroad.

    A business approach
    Your expanded knowledge of financial markets, shared by experienced practitioners, will not only help you find your dream job, but also support you in establishing your own company, as well.

    Graduates of Finance and Accounting with ACCA can expect to work in many interesting and lucrative positions in various institutions. Your future position depends on the sub-major you choose.

    • Tax consulting and tax control
      • tax advisor
      • financial control specialist
      • expert in the enterprise
      • employee of the tax and fiscal control authorities
      • enforcer or control inspector
      • Chief Financial Officer.
    • Financial analyst
      • internal auditor in units of the public finance sector and the private sector
      • stockbroker
      • broker
      • risk management specialist
      • financial analyst.
    • Banking and financial service
      • director of the bank department
      • bank branch manager
      • Sales Director
      • director of product development
      • corporate client advisor
      • credit analyst
    • Internal audit
      • internal auditor in units of the public finance sector and the private sector
      • internal control specialist
      • risk management specialist.
    • Investment consulting
      • insurance agent
      • real estate appraiser
      • investment advisor.
  • Tuition fee for full-time and part-time studies in Polish – students from outside the EU

    Registration fee Tuition fee (per year) Tuition fee (per semester)
    Full-time and part-time studies 120 € 1 450 € 775 €

    Tuition fee for full-time studies in English – EU and other countries citizens*

    Registration fee Tuition fee (per year) Tuition fee (per semester)
    Full-time studies 120 € 2 500 € 1 350 €

    *The group of citizens of other countries paying the same fees as EU citizens includes: Citizens of North America, Central America, Caribbean, South America, Northern Europe, Western Europe, Eastern Europe, Central Asia (including Armenia, Azerbaijan, Georgia, Turkmenistan, Tajikistan, Uzbekistan, Kyrgyzstan, Kazakhstan, and Mongolia).

    Tuition fee for full-time studies in English – citizens from the remaining countries*

    Registration fee Tuition fee (per year) Tuition fee (per semester)**
    Full-time studies 200 € 3 000 € 1 600 €

    *This does not apply to students from the countries of North America, Central America, Caribbean, South America, Northern Europe, Western Europe, Eastern Europe, Central Asia (including Armenia, Azerbaijan, Georgia, Turkmenistan, Tajikistan, Uzbekistan, Kyrgyzstan, Kazakhstan and Mongolia).

    **The semester fee payment is available only for students with a valid visa or a residence permit in Poland.

    Order of the Rector about fees


TestimonialsShow all


International Office

If you are a candidate, please contact our admission team:


Anna Voronko

International Admission Officer

WhatsApp or Viber: +48 798 066 870


(Russian and Polish)


Tosin Oladosu

International Admission Officer

WhatsApp: +48 510 858 087




Accommodation Officer


If you are a recruitment agency’s representative, please contact our cooperation team:


Leonid Markusyk

Director of International Marketing and Recruitment

tel. +48 501 294 962


(cooperation with recruitment agencies and institutions)


Halina Bozko

International Admission Coordinator

tel.: +48 502 603 174


(cooperation with recruitment agencies) 

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