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Three-year Study Program

Practical knowledge that guarantees a great job

The three-year study program Accounting and Auditing will allow you to acquire the most in-demand skills in the field of economics.

This study program is designed for training future accountants and auditors for middle-level and senior-level financial corporate positions. By graduating from this study program, you will be prepared to perform the most responsible and highest paid tasks. In addition, studying at ITEP will provide you with a recognized and valuable applied degree in economics, specializing in accounting and auditing, worth 180 ECTS credits.

Check out the curriculum by the year of study:

 

FIRST YEAR

FIRST SEMESTER

Business Mathematics

  • Course status: compulsory, first semester
  • ECTS: 7
  • Course objectives: Students will acquire all the knowledge necessary for further education for keeping up with applied professional courses.
  • Course content: 1. Functions of a real variable; 2. Functions of two or more real variables; 3. Applications of functions in economics and business; 4. Differential calculus; 5. Applications of differential calculus in economics and business; 6. Integration (integral) calculus; 7. Applications of integration calculus in economics and business; 8. Linear algebra; 9. Applications of linear algebra in economics and business (Leontief model, optimization of the linear objective function from two or more variables); 10. Arrays and rows in mathematics.
  • Required literature:

Petrović Ž.: Poslovna matematika, Beograd: FPA, 2009.

Management

  • Course status: compulsory, first semester
  • ECTS: 7
  • Course objectives: Introducing students to the basic elements of management and system management; training students for planning, organization both in manufacturing companies and service providers, motivation, communication and leadership of employees, as well as for control of the work process and results.
  • Course content: 1. Introduction to management. Concept and development of management. Managers. Functions, roles and principles of management. 2. Historical development of management. Beginnings of organized labor. Scientific management. 3. Administrative approach. Behavioral approach. Quantitative management. Systematic approach. Situational approach. 4. Planning: Decision-making. Setting goals and defining their realization. 5. Planning methods and techniques. 6. Organization. Organizational structure. Organizational design. Organizational structure models. Systematization of job positions. Recruitment and selection of employees. 7. Management. Organizational behavior. Groups and teams. Motivating employees. Leadership. 8. Control. Organizational performance. Measurement and comparison. Control techniques. 9. Theory: Lectures are carried using the combined “ex cathedra vs. case” method. Theoretical instruction makes up 50% of class load and is carried out using the “ex cathedra” method, whereas the rest of the content is carried out using the “case” method, i.e. by presenting cases that illustrate the theoretical part. 10. Practicals: Seminar papers comprise the preparation and development of a seminar paper, and its defense.
  • Required literature:

Stavrić B., Đokić A., Osnovi menadžmenta, Banjaluka: M Power, 2009.

Business Informatics

  • Course status: Compulsory, first semester
  • ECTS: 7
  • Course objectives: Familiarizing students with the basic concepts in informatics, technological components of a computer, computer networks and related software. Mastering the use of a personal computer, its operating system, basic software components of MS Office, and the use of Internet services.
  • Course content: 1. Systems, cybernetics and information systems: Concept, properties and classification of systems; 2. Concept and application of cybernetics in system management. Concept, classification and components of information systems; 3. Computer hardware: Concept of a digital computer system. Central processing unit. Input devices, output devices, input/output devices, and external memories; 4. Arithmetic-logic foundations of a computer system: Number systems and codes. Arithmetic in a binary numeral system. Basic logic operations. Instructions and commands; 5. Computer software: Concept and classification of computer networks, transmission media, network devices, remote data processing, architecture; 6. Control: Organizational performance. Measurement and comparison. Control techniques. Theory: Lectures are carried using the combined “ex cathedra vs. case” method. Theoretical instruction makes up 50% of class load and is carried out using the “ex cathedra” method, whereas the rest of the content is carried out using the “case” method, i.e. by presenting cases that illustrate the theoretical part. 7. Practicals: Seminar papers comprise the preparation and development of a seminar paper, and its defense.
  • Required literature:
  1. Bračika N., Informacione tehnologije, Beograd: Fakultet za menadžment malih i srednjih preduzeća, 2008.
  2. Todorović M., Ćosić D., Informacione tehnologije, Beograd: Beogradska poslovna škola, 2006.

Business English 1

  • Course status: Compulsory, first semester
  • ECTS: 6
  • Course objectives: Acquiring the minimum grammatical, lexical, and orthographic knowledge and automated skills, using English as a means of communication, improving comprehension, speaking, writing and reading skills at an intermediate level.
  • Course content: 1. Present Simple Tense; 2. Present Continuous Tense; 3. Present Perfect Tense; 4. Past Simple Tense; 5. Past Continuous Tense; 6. Past Perfect Tense; 7. The Future; 8. Verb Patterns; 9. Plurals, Articles; 10. Pronouns, Adverbs, Prepositions of Place and Time; 11. Quantifiers, Comparisons of Adjectives; 12. Modal Verbs, Defining Relative Clauses; 13. Non-defining Relative Clauses Passive Voice; 14. Reported Speech; 15. Conditional Sentences (Type 1, Type 2, Type 3).
  • Required literature:

1. Jones-Macziola S., FURTHER AHEAD, A COMMUNICATION SKILLS COURSE FOR BUSINESS ENGLISH, Cambridge University Press, 2011.
2. Mascull B., BUSINESS VOCABULARY IN USE, Cambridge: Cambridge University Press, 2011.
3. Aspinall T., Bethel G., TEST YOUR BUSINESS VOCABULARY IN USE, Cambridge: Cambridge University Press, 2011.

Seminar paper

  • Status: Compulsory, first semester
  • ECTS: 3
  • Description: Seminar paper is a student’s individual professional paper that aims at expanding and deepening the knowledge of a particular area. It addresses a narrow, specific topic, with the idea of bringing a current issue in focus and providing certain innovations in traditional approaches. The purpose of the seminar paper is to develop the skills of writing a comprehensive presentation and overview of a particular issue, to develop the ability of data usage, and create a basis for writing more complex individual papers. The first step in writing a seminar paper is choosing a topic. Suggestions regarding the topic may be provided by teachers, or students depending on their knowledge of a particular area. The topic may be related to both theoretical and practical aspects of a certain area. In both cases, it must meet the criteria of curentness, relevance, concreteness, accuracy, content specificity, etc. After choosing a topic, the next step is to consult the mentor regarding the selection of the material.
    The structure of the seminar paper comprises the title page, contents, introduction, main part, conclusion and bibliography. When writing a seminar paper, it would be desirable to use relevant quotations so as to expand and extend the topic, as well as footnotes to explain specific problems, concepts or personalities mentioned in the text in more detail. Students should also think about the style. The style and language of the seminar paper should correspond to the scientific discourse, without expressive or colloquial elements. Sentences should be grammatically correct, clear and concise. Each sentence should serve the purpose of expanding and illustrating the chosen topic. It would also be advisable to use tables, charts, images and illustrations, especially where necessary.

SECOND SEMESTER

Business Economics

  • Course status: Compulsory, second semester
  • ECTS: 7
  • Course objectives: Familiarizing students with laws of economics and all other factors that impact the efficiency and development of a company. Introducing companies as subjects of market economy, growth and development of companies. Current issues in the operation of modern companies and adaptation to domestic and global environment. Students should acquire knowledge that allows them to master the material in applied undergraduate studies.
  • Course content: 1. Origins and development of economics as a science; 2. Fundamentals of entrepreneurship; 3. Characteristics of a company; 4. Types of companies by size, organization, activity and ownership; 5. Company as a subject of market economy; 6. Managing company assets; 7. Cost management; 8. Business result management, and profit distribution management; 8. Business efficacy of a company; 10. Growth and development; 11. The fundamentals of operations and strategic management.
  • Required literature:

Vujović S., Poslovna ekonomija, Beograd: FPE, 2009.

Business Statistics

  • Course status: Compulsory, second semester
  • ECTS: 7
  • Course objectives: Understanding the logic behind statistical (inductive-probabilistic) reasoning. Learning to calculate and correctly interpret the basic statistic indicators, mastering the most important (basic) statistical methods, assumptions and restrictions in their application, and learning to comment on their results. Learning to correctly read and interpret the results of the appropriate software packages.
  • Course content: 1. Why should we study statistics; 2. Importance of collecting, organizing and grouping statistical data in business practice; 3. Definition and classification of random variable; 4. Mathematical expectation; 5. Elements of probability calculus; 6. Concepts of probability calculus and their application in economics and business; 7. Discrete random variable function and its applications in economics and business; 8. Continuous random variable function and its applications in economics and business; 9. Population and sample statistics, and its applications in economics and business; 10. Probability function distribution and its applications in economics and business; 11. Central tendency measurement and its applications in practice; 12. Random variable measurements and dispersions with applications in business practice; 13. Statistical reasoning, confidence intervals, hypothesis testing with applications in economics and business; 14. Regression analysis, trend analysis, indices with applications in economics and business.
  • Required literature:

1. Poslovna statistika, Beograd: FPE, 2009.
2. Žižić M., Lovrić M., Pavličić D., Metodi statističke analize, Beograd: EF, 2005.
3. Bošković O., Dragutinović R., Pavličić D., Lovrić M., Metodi statističke analize – zbirka rešenih zadataka, Beograd: Ekonomski
fakultet, 2005.

Sociology of Management

  • Course status: Compulsory, second semester
  • ECTS: 7
  • Course objectives: Expanding general knowledge of the world and age we live in; acquiring concrete knowledge of the key processes in both global and individual societies, including societies undergoing democratic transition such as ours; broader understanding of the phenomenon of labor and ongoing processes of its transformation; raising student awareness regarding certain particularly important issues of modern life, such as human rights and freedoms, gender and gender relations, respect for others and tolerance of diversity, etc; strengthening one’s self-esteem and facilitating appropriate student orientation in the world and age we live in.
  • Course content:

1. Management as a social phenomenon, importance of management as a human governance activity – then and now, sociological concept of man; 2. Managers as a separate social group, managerial education – future challenges; 3. Environmental protection as the only guarantee of survival, environmental crisis and management; 4. Sociological aspects of environmental protection, sociological approach to globalization, new technologies, virtual business and information security, impact of globalization on management; 5. Impact of society on business ethics, business ethics and morality; 6. Corporate social responsibility and managerial responsibility; 7. Corporate culture as a business factor, culture and multiculturalism, cultural diversity management; 8. Economic activities and economic processes in a workgroup, forms and organization of workgroups, employee morale and workgroup; 9. Sociological aspect of communication, communication types in an organization, Internet as a means of communication; 10. Social aspects of leadership, leadership and management, authority and power in leadership; 11. Sociological aspects of conflict, nature of competing interests, types of conflict.

  • Required literature:

Rakas S., Đokić A., Sociologija menadžmenta, Banjaluka: M Power, 2009.

Business English 2

  • Course status: Compulsory, second semester
  • ECTS: 6
  • Course objectives: Adopting the basic grammatical norms and business vocabulary at high intermediate level.
  • Course content: 1. Verb tenses (active and passive); 2. Meeting people; 3. Talking about companies; 4. Company structure; 5. Market research; 6. Transportation; 7. Imports and exports; 8. Arrangements; 9. Products and services; 10. Marketing; 11. Statistics; 12. Money; 13. Socializing; 14. Business culture and ethics; 15. Meetings.
  • Required literature:

1. Jones L., Alexander R., NEW INTERNATIONAL BUSINESS ENGLISH (student’s book), Cambridge: Cambridge University Press.
2. Mascull B., BUSINESS VOCABULARY IN USE, Cambridge: Cambridge University Press.
3. Aspinall T., Bethel G., TEST YOUR BUSINESS VOCABULARY IN USE, Cambridge: Cambridge University Press.

Seminar Paper

  • Course status: Compulsory, second semester
  • ECTS: 3
  • Description: Seminar paper is a student’s individual professional paper that aims at expanding and deepening the knowledge of a particular area. It addresses a narrow, specific topic, with the idea of bringing a current issue in focus and providing certain innovations in traditional approaches. The purpose of the seminar paper is to develop the skills of writing a comprehensive presentation and overview of a particular issue, to develop the ability of data usage, and create a basis for writing more complex individual papers. The first step in writing a seminar paper is choosing a topic. Suggestions regarding the topic may be provided by teachers, or students depending on their knowledge of a particular area. The topic may be related to both theoretical and practical aspects of a certain area. In both cases, it must meet the criteria of curentness, relevance, concreteness, accuracy, content specificity, etc. After choosing a topic, the next step is to consult the mentor regarding the selection of the material.
    The structure of the seminar paper comprises the title page, contents, introduction, main part, conclusion and bibliography. When writing a seminar paper, it would be desirable to use relevant quotations so as to expand and extend the topic, as well as footnotes to explain specific problems, concepts or personalities mentioned in the text in more detail. Students should also think about the style. The style and language of the seminar paper should correspond to the scientific discourse, without expressive or colloquial elements. Sentences should be grammatically correct, clear and concise. Each sentence should serve the purpose of expanding and illustrating the chosen topic. It would also be advisable to use tables, charts, images and illustrations, especially where necessary.

SECOND YEAR

THIRD SEMESTER

EU Law

  • Course status: Elective, third semester
  • ECTS: 6
  • Course objectives: Mastering the subject matter referring to the origins of EU, EU law and its application.
  • Course content: 1. Treaties on the creation and development of the European Union – EU; 2. Foundation and legal nature of EU law; 3. Application of law in member states and the process of harmonization of national law and EU law. Practicals: Familiarizing students with the major aspects of EU law.
  • Required literature:

1. Predmetni nastavnik, Pravo Evropske unije, Beograd: FPU, 2009.
2. Srdić M., Evropska unija i pravo Evropske unije, Čačak: VPŠ ,2006.

Labor Law

  • Course status: Elective, third semester
  • ECTS: 6
  • Course objectives: Introducing students to the basic goals and tasks of labor law.
  • Course content: 1. Concept, subject and sources of labor law; 2. Individual employment relations specified in the Labor Law, establishing employment relations, forms of employment; 3. Education, professional development and training, working hours, vacations and absences; 4. Safety and protection at work, salaries and wages, payment of salaries and wages, compensation expenses and other remunerations specified in the employment contract, bankruptcy claims; 5. Employee rights in case of resignation, redundancies, non-compete agreement, damages, dismissal; 6. Changes in employment contracts, termination of employment, protection and realization of employee’s rights, collective labor rights and collective employment agreements; 7. Basic provisions of the Law on Health and Safety at Work; 8. Employment in government bodies, basic provisions of the Law on Civil Servants, social insurance, health insurance, retirement and disability insurance; 9. Employment and unemployment insurance.
  • Required literature:

Vulin A. Radno pravo, Banjaluka: M Power, 2009.

Management Accounting

  • Course status: Compulsory, third semester
  • ECTS: 7
  • Course objectives: Introducing students to the activities of the accounting department in the preparation of financial and non-financial information needed by the management in the process of making business decisions and management control (in the stages of planning, organization, control, communication and motivation).
  • Course content: 1. Role and tasks of the accountant in an organization; 2. Different cost classifications for different management purposes; 3. Introduction to cost calculation; 4. Cost calculation in individual production (calculation by work order (for a job, order)); 5. Cost calculation by activity; 6. Cost calculation by mass production (calculation by process); 7. Cost calculation in linked production; 8. Overhead costs and allocation of secondary cost elements; 9. Account planning (budgeting) and calculation of standard costs; capital budget and accounting responsibilities; flexible budget and management control of costs and revenues; 10. Accounting reports with different types of variance analysis; 11. Decision-making process; 12. Relevant values in decision-making and different types of decisions; 13. Cost-volume-profit (CVP) analysis; 14. Decisions on selling prices and cost management.
  • Required literature:

1. Horngren T.; Charles F. G., Strikant D. M., Cost Accounting a Managerial Emphasis, Prentice Hall International, INC, 2000. (u prevodu: Osnove troškovnog računovodstva – upravljački aspekt, Udruženje/udruga računovođa i revizora FBiH i
Udruga računovođa i financijskih djelatnika Herceg-Bosne);
2. Rodić, J., Rakovački–Tubić S., Računovodstvo troškova i učinaka i računovodstvo segmenata poslovanja, Banja Luka: Finrar,
Banja Luka: Ekonomski fakultet Univerziteta u Banjoj Luci, 2010.
3. Stevanović N., Malinić D., Milićević V., Upravljačko računovodstvo, Beograd: Ekonomski fakultet, 2012.

Auditing

  • Course status: Compulsory, third semester
  • ECTS: 7
  • Course objectives: The main objective is to help students to expand their knowledge of auditing and apply it in practice. In addition to the basic concepts in auditing and all its forms, the course provides insight into laws and regulations pertaining to auditing, with special emphasis on the International Standards on Auditing. A significant portion of the course deals with a practical study of auditing which presents the complete auditing process on a practical example and allows students to implement their knowledge in practice.
  • Course content: 1. Purpose and general principles of auditing; 2. Terms of audit engagement and client selection; 3. Audit quality control; 4. Auditing documentation; 5. Detecting fraud and illegal acts; 6. Control of law application and other regulations; 7. Planning and risks in financial auditing; Audit evidence; 9. Audit documentation; 10. Audit planning file; 11. Audit test file; 12. Creating reminders for audit planning; 13. Auditor’s report file.
  • Required literature:

1. Hayes R., Schilder A., Dassen R., Wallage P., Principi revizije – međunarodna perspektiva, Banja Luka: Savez
računovođa i revizora Republike Srpske, 2002.
2. Božić R., Kondić N., Revizija finansijskih izvještaja – vodič kroz praktičnu reviziju, drugo izmijenjeno i dopunjeno izdanje, Banja
Luka: EFBL i SRR RS, 2007.
3. Međunarodni standardi i saopštenja revizije, uvjeravanja i etike, Beograd: SRR Srbije i SRR Republike Srpske, 2004.
4. Kodeks etike za profesionalne eksperte, Banja Luka: SRR Republike Srpske, 2007.

Monetary Economics and Public Finances

  • Course status: Compulsory, third semester
  • ECTS: 7
  • Course objectives: Introducing students to the theoretical and practical knowledge and skills in the field of monetary economics, with an input from professional practice. Practical mastery of the study program’s curriculum is the objective, together with the implementation of knowledge of application software integral to monetary economics.
  • Course content: 1. Money and money supply, issue of money; 2. Primary money, monetary aggregates; 3. Money supply and demand, monetary equilibrium; 4. Business and central banking; 5. Liquidity and solvency, credit arrangements, deposits, interest rate, exchange rate; 6. International financial institutions, IMF and World Bank, European monetary system, Euro and dollar; 7. Credit and debt financing, price of money and capital; 8. Taxes, social contributions, parafiscal taxes and fees, public revenues, fiscal revenues, business taxation, value added tax, excise taxes and fees, budget and public funds; 9. Public expenditures, EU tax and customs policies, EU budget policy, comparative tax systems, comparative budgetary systems; 10. International public finances, fiscal management, tax consulting, budgetary engineering; 11. Macroeconomic and structural fiscal policy, quantitative fiscal models, budget deficit and public debt, fiscal strategies; 12. Tax effects on accumulation, investments, stabilization and growth. Practicals: Theoretical instruction is aimed at the implementation of professional knowledge, training and professional practice in the field of monetary economics and public finances so as to acquire practical knowledge and skills defined in the study program.
  • Required literature:

Ristić Ž., Komazec S., Monetarne i javne finansije, Čačak: VPŠ, 2007.

Seminar Paper

  • Course status: Compulsory, third semester
  • ECTS: 3
  • Description: Seminar paper is a student’s individual professional paper that aims at expanding and deepening the knowledge of a particular area. It addresses a narrow, specific topic, with the idea of bringing a current issue in focus and providing certain innovations in traditional approaches. The purpose of the seminar paper is to develop the skills of writing a comprehensive presentation and overview of a particular issue, to develop the ability of data usage, and create a basis for writing more complex individual papers. The first step in writing a seminar paper is choosing a topic. Suggestions regarding the topic may be provided by teachers, or students depending on their knowledge of a particular area. The topic may be related to both theoretical and practical aspects of a certain area. In both cases, it must meet the criteria of curentness, relevance, concreteness, accuracy, content specificity, etc. After choosing a topic, the next step is to consult the mentor regarding the selection of the material.
    The structure of the seminar paper comprises the title page, contents, introduction, main part, conclusion and bibliography. When writing a seminar paper, it would be desirable to use relevant quotations so as to expand and extend the topic, as well as footnotes to explain specific problems, concepts or personalities mentioned in the text in more detail. Students should also think about the style. The style and language of the seminar paper should correspond to the scientific discourse, without expressive or colloquial elements. Sentences should be grammatically correct, clear and concise. Each sentence should serve the purpose of expanding and illustrating the chosen topic. It would also be advisable to use tables, charts, images and illustrations, especially where necessary.

FOURTH SEMESTER

Microeconomics

  • Course status: Compulsory, fourth semester
  • ECTS: 7
  • Course objectives: Microeconomic analysis studies economic activities of individual economic units. The object of analysis is the behavior of a representative enterprise, consumers and their interaction. This problem is approached at an intermediate level, i.e. corresponding to the globally used term Intermediate Microeconomics. The course links economic theory and applied analysis in the form of econometric research. This is why this course is particularly important for students who (1) want to expand their knowledge of economic theory; (2) expect they will get an opportunity to apply theoretical knowledge on practical, business or economic-political problems; (3) seek to mathematically model economic and social processes.
  • Course content: Subject matter is grouped into six large topic areas, each requiring approximately 10 classes, i.e. two and a half weeks. These topic areas include: 1. Consumer choice and demand functions; 2. Production, costs and profit maximization; 3. Market supply and demand, equilibrium, comparative statistics; 4. Monopoly and imperfect competition; 5. Intermediate exchange and capital markets; 6. Uncertainty, externalities and public decisions.
  • Required literature:

Varijan Hal R., Mikroekonomija: moderan pristup, Beograd: Ekonomski fakultet

Business Law

  • Course status: Compulsory, fourth semester
  • ECTS: 6
  • Course objectives: Mastering the subject matter related to companies: legal aspect of establishment, business operations within the organization, corporate bodies and integration.
  • Course content:

1. Learning about establishment and business operations of companies, their integration and reorganization, ways to terminate companies through liquidation and bankruptcy;
2. Studying a number of commodity contracts for buying and selling commodities and services, technology, industrial and intellectual property, foreign investments, etc.

Practicals: Familiarizing students with the major aspects of the subject matter defined in the course content.

  • Required literature:

1. Vlatković M., Poslovno pravo, Beograd: FPE, 2009.
2. Srdić M., Poslovno i finansijsko pravo, Čačak: VPŠ, 2006.

Financial Accounting

  • Course status: Compulsory, fourth semester
  • ECTS: 7
  • Course objectives: Acquiring knowledge of accounting, particularly in financial institutions, but at all other organizational levels as well. Studying the theory, organization, and methodology of accounting in a way that will enable students to tackle inevitable changes in accounting theory and practice.
  • Course content:

1. Learning about establishment and business operations of companies, their integration and reorganization, ways to terminate companies through liquidation and bankruptcy;
2. Studying a number of commodity contracts for buying and selling commodities and services, technology, industrial and intellectual property, foreign investments, etc. Practicals: Familiarizing students with the major aspects of the subject matter defined in the course content.

Praktična nastava: Upoznavanje sa bitnim elementima materije navedene u sadržaju predmeta.

  • Required literature:

1. Vlatković M., Poslovno pravo, Beograd: FPE, 2009.
2. Srdić M., Poslovno i finansijsko pravo, Čačak: VPŠ, 2006.

Student Traineeship 1

  • Status: Compulsory, sixth semester
  • ECTS: 7

Seminar Paper

  • Status: Compulsory, fourth semester
  • ECTS: 3
  • Description: Seminar paper is a student’s individual professional paper that aims at expanding and deepening the knowledge of a particular area. It addresses a narrow, specific topic, with the idea of bringing a current issue in focus and providing certain innovations in traditional approaches. The purpose of the seminar paper is to develop the skills of writing a comprehensive presentation and overview of a particular issue, to develop the ability of data usage, and create a basis for writing more complex individual papers. The first step in writing a seminar paper is choosing a topic. Suggestions regarding the topic may be provided by teachers, or students depending on their knowledge of a particular area. The topic may be related to both theoretical and practical aspects of a certain area. In both cases, it must meet the criteria of curentness, relevance, concreteness, accuracy, content specificity, etc. After choosing a topic, the next step is to consult the mentor regarding the selection of the material.
    The structure of the seminar paper comprises the title page, contents, introduction, main part, conclusion and bibliography. When writing a seminar paper, it would be desirable to use relevant quotations so as to expand and extend the topic, as well as footnotes to explain specific problems, concepts or personalities mentioned in the text in more detail. Students should also think about the style. The style and language of the seminar paper should correspond to the scientific discourse, without expressive or colloquial elements. Sentences should be grammatically correct, clear and concise. Each sentence should serve the purpose of expanding and illustrating the chosen topic. It would also be advisable to use tables, charts, images and illustrations, especially where necessary.

THIRD YEAR

FIFTH SEMESTER

Financial Markets and Stock Market Management

  • Course status: Compulsory, fifth semester
  • ECTS: 7
  • Course objectives: Introducing students to the theoretical and practical knowledge in the field of financial markets and stock market management, with an input from professional practice. Practical mastery of the study program’s curriculum is the objective, together with the implementation of knowledge of application software, integral to national and international financial markets and stock market management viewed from the aspect of objectives and tasks of business entities and financial institutions, as well as to successful planning and control of financial trends in money and capital markets.
  • Course content: 1. Foundations of financial systems; 2. Position and role of financial systems in an economy; 3. Basic elements of a financial system; 4. Concept and role of financial markets; 5. Functioning of financial markets; 6. Participants in a financial market; 7. Regulatory and supervisory bodies in financial markets; 8. Financial instruments; Money market instruments; Capital market instruments; 9. Financial derivatives.
  • Practicals: The purpose of theoretical instruction is the implementation of professional knowledge, training and practice of the study program in the field of financial markets and stock market management aimed at acquiring theoretical and practical knowledge and skills defined in the study program.
  • Required literature:

1. Vukosavljević D., Finansijska tržišta i berzanski menadžment, Beograd: FPE, 2009.
2. Ristić Ž. i dr., Finansijska tržišta i berzanski menadžment, Čačak: VPŠ, 2006.
3. Ristić Ž. i dr., Berze i berzansko poslovanje, Čačak: VPŠ, 2006.

Shareholding and Securities

  • Course status: Compulsory, fifth semester
  • ECTS: 6
  • Course objectives: Introducing students to the basic knowledge of shareholding and securities. Special emphasis on the system and rules of trade, bond prices, stock price determinants and the value of their trading.
  • Course content:

1. Secondary securities market; 2. Role of specialists in a secondary market; 3. Bond price; 4. Stock price determinants; 5. Trading mechanisms of securities; 6. Securities trading system; 7. Securities trading rules; 8. Securities pricing models; 9. Clearing system; 10. Securities balance sheet; 11. Stock market indices; 12. OTC market indices.

  • Required literature:

Predmetni nastavnik, Akcionarstvo i hartije od vrijednosti, Čačak: VPŠ,  2005.

Specialized Accounting

  • Course status: Compulsory, fifth semester
  • ECTS: 7
  • Course objectives: Enabling students to understand the paradigm of the science of project management, and master the basic techniques of project preparation, analysis, evaluation and execution. The main aim of project management is to minimize risk and uncertainty, and maximize the probability of achieving results within the defined deadline and defined budget. Another aim of this course is to teach students to understand and make investment decisions and realize projects.
  • Course content: 1. Theoretical development of project management science; 2. Concept, types and main features of projects; 3. Methodological concept of project preparation, analysis and evaluation; 4. Project life cycle – first phase of project life cycle; 5. Market and technical-technological analysis of a project; 6. Financial analysis of a project; 7. Investment methods for project profitability assessment; 8. Project financing; 9. Project management in the second phase of project execution; 10. Third phase of project life cycle; 11. Project risk management; 12. Project management software.
  • Required literature:

1. Đuričin D., Lončar D., Menadžment pomoću projekata: treće izdanje, Beograd: Ekonomski fakultet Beograd, 2010.
2. Bendeković J., Priprema i ocjena investicijskih projekata, Zagreb: FOIP biblioteka, 2007.
3. Omazić A. M., Baljkas S., Projektni menadžment, Zagreb: Sinergija nakladništvo d. o. o. Zagreb, 2005.

Financial Statements Audit

  • Course status: Compulsory, fifth semester
  • ECTS: 7
  • Course objectives: The main aim of this course is familiarizing students with the basic characteristics of financial statements audit, as well as understanding the International Standards on Auditing, especially those referring to auditor’s responsibility, audit process planning, internal control in companies, and other related services.
  • Course content: 1. Introduction to auditing; 2. Audit market; 3. Code of ethics for professional accountants; 4. Standards of auditing; 5. Introduction to the audit process; 6. Accepting clients; 7. Audit planning; 8. Internal control and its components; 9. Reliance on internal control in the audit process; 10. Evidence tests (Part 1); 11. Evidence tests (Part 2); 12. Final phase of the audit process; Independent auditor’s reports.
  • Required literature:

1. Hayes R., Schilder A., Dassen R., Wallage P., Principi revizije – međunarodna perspektiva, Banja Luka: Savez računovođa i revizora Republike Srpske, 2002.
2. Međunarodni standardi i saopštenja revizije, kontrole kvaliteta, pregleda, ostalih uvjeravanja i srodnih usluga, Savez računovođa i revizora Srbije, Savez računovođa i revizora Republike Srpske i Institut sertifikovanih računovođa Crne Gore, 2016–2017.
3. Etički kodeks za profesionalne računovođe, Savez računovođa i revizora Srbije, Savez računovođa i revizora Republike Srpske i Institut sertifikovanih računovođa Crne Gore, 2016.

Seminar Paper

  • Status: Compulsory, fifth semester
  • ECTS: 3
  • Description: Seminar paper is a student’s individual professional paper that aims at expanding and deepening the knowledge of a particular area. It addresses a narrow, specific topic, with the idea of bringing a current issue in focus and providing certain innovations in traditional approaches. The purpose of the seminar paper is to develop the skills of writing a comprehensive presentation and overview of a particular issue, to develop the ability of data usage, and create a basis for writing more complex individual papers. The first step in writing a seminar paper is choosing a topic. Suggestions regarding the topic may be provided by teachers, or students depending on their knowledge of a particular area. The topic may be related to both theoretical and practical aspects of a certain area. In both cases, it must meet the criteria of curentness, relevance, concreteness, accuracy, content specificity, etc. After choosing a topic, the next step is to consult the mentor regarding the selection of the material.
    The structure of the seminar paper comprises the title page, contents, introduction, main part, conclusion and bibliography. When writing a seminar paper, it would be desirable to use relevant quotations so as to expand and extend the topic, as well as footnotes to explain specific problems, concepts or personalities mentioned in the text in more detail. Students should also think about the style. The style and language of the seminar paper should correspond to the scientific discourse, without expressive or colloquial elements. Sentences should be grammatically correct, clear and concise. Each sentence should serve the purpose of expanding and illustrating the chosen topic. It would also be advisable to use tables, charts, images and illustrations, especially where necessary.

SIXTH SEMESTER

International Economics and Finance

  • Course status: Compulsory, sixth semester
  • ECTS: 7
  • Course objectives: Mastering the knowledge of international economic phenomena and relations and related terminology; introducing students to the basic relations in modern international economy, participants and nature of the global market; international trade theories; regional integrations, and forms of international financial institutions, as well as quality of particular sources.
  • Course content: 1. Fundamentals of globalization and the subject of international economics; 2. Main theories of international trade, characteristics and particularities of modern global market, changes in the balance of global economy; 3. Foreign exchange market; 4. Balance of payments; 5. Online Analytical Processing (OLAP); 6. Theories and types of exchange rate; 7. Concept and importance of international economic integrations and international cash flows; 8. International monetary system and international financial development institutions.
  • Practicals: Active student participation in exercises, especially in the field of international economic operations, comparative analysis of individual countries’ level of development, regional communities, markets and finance.
  • Required literature:

Beslać M., Petković T., Međunarodna ekonomija i finansije, Beograd: FPE, 2009.

E-business

  1. Course status: Elective, sixth semester
  2. ECTS: 7
  3. Course objectives: Introducing students to the basic strategic models of the e-business system, methods, tools and procedures for the development of e-business, models for securing confidence on the Internet, security demands and ways to meet them, ways to link web presentations with organizational information systems.
  4. Course content: 1. Introduction to banking: Automation of banking operations. Banking operations and Internet. Online banking; 2. Wholesale payment systems: bank relations, international exchange, messaging systems – wholesale payments; 3. E-money: problems relating to traditional currency. E-payments. Factors affecting the growing popularity of e-money. Requirements e-money has to meet. Requirements of e-payment systems. Issues of anonymity and privacy; 4. Cards and card operations: historical development. Current situation in Serbia. Classification and card types. Internet cards. Background business. Issues of privacy and security. International aspects of card operations; 5. M-banking: m-commerce. Principles of mobile financial services (banking services, brokers, investment banking, other services). Mobile payments – cardholdership, card-less solutions, security of mobile business; 6. Effects of globalization on banking operations; 7. Particularities of trade company accounting.
  5. Practicals:
    1. Electronic checks: checks and types of checks; check processing devices; e-check business models; electronic check formation; certification of check books;
    2. Internet payments: phone-card combination; payment upon delivery; payment through bank transfer; card payments; electronic checks; electronic payment order.
    3. Mobile payments – cardholdership, Bluetooth payments, mobile cash; WAP banking operations;
    Practicals: Finding and researching popular e-trade, e-banking, e-commerce and e-marketing websites.
  6. Required literature:

1. Bračika N., Elektronsko poslovanje, Čačak: VPŠ, 2008.
2. Kalakota R., Robinson M., E-poslovanje, Zagreb: MATE, 2002.
3. Končar J., Elektronska trgovina, Subotica: Ekonomski fakultet, 2000.
4. Laudon K., Traver C., E-commerce, Boston: Pearson, 2003.
5. Šapić D., E-commerce: Poslovanje preko interneta, Novi Sad: Prometej, 2005.

Information System Management

  • Course status: Elective, sixth semester
  • ECTS: 7
  • Course objectives: Introducing students to the place and role of information systems in a business system and business system management. Mastering the concepts related to information system development, database management systems, particular types of information system management, and expanding the knowledge and skills in the use of application software and Internet services.
  • Course content: 1. General concepts related to information systems; 2. Role of information systems in management and decision making; 3. Programming and programming languages; 4. Databases: classic organization of data, concept of a database, database management system, database models – hierarchical, relational, network, object-oriented; 5. Online analytical processing (OLAP); 6. Development of information systems; 7. Business information systems: personnel, production, financial, marketing; 8. Management information systems: transactional information systems, office automation information systems, decision support systems, top management support systems; 9. Expert systems; 10. Internet, intranet, extranet and management information systems.
  • Practicals: Database management system MS Access: creating tables, linking tables, creating queries and query language SQL, Generating forms and reports and their customization. Data processing in a client-server system. Examples of a production, personnel, financial and marketing information system. Using MS Excel for multidimensional data analysis and decision support. Working online and using Internet services.
  • Required literature:

1. Bračika N., Menadžment informacioni sistemi, Čačak: VPŠ, 2008.
2. Bračika N., Živadinović J., Poslovni i finansijski informacioni sistemi, Čačak: VPŠ, 2006.

Student Traineeship 2

  • Status: Compulsory, eighth semester
  • ECTS: 7

Final Paper of the Three-Year Study Program

  • Status: Compulsory
  • ECTS: 9
  • Description: The aim of the final paper is to show a student’s ability to effectively and maturely solve the given complex problem which refers to their chosen area of study. It is a professional paper on a given topic from a particular scientific field, longer and more complex in relation to a seminar paper. The final paper is written after a student has successfully passed all exams, submitted all seminar papers and successfully realized the required traineeship The purpose of the final paper is to train students in scientific research, but it also serves as the final test of the knowledge and skills for individual work and to expand the knowledge of the chosen area. The choice of the topic is influenced by numerous factors. Senior students usually possess enough knowledge to be able to choose and define the topic on their own, but they can consult their mentor as well. The choice of the topic should be in line with student’s interests, as well as previous activities and acquired knowledge. The topic of the final paper may refer to a theoretical problem or it can be an overview of a practical study of a specific phenomenon or case. If he/she chooses a theoretical topic, the student should collect relevant literature, select and organize the content, create and finally present his/her final paper. When choosing a practical topic, a student’s task is to illustrate how the acquired knowledge has been applied on a specific example, case study or solution of a specific practical task. The next step is bibliographic preparation. Selecting sources of information is a specific creative act based on the knowledge acquired during studies and developed insight into the methods of obtaining information and processing the selected topic. The structure of the final paper includes the title page, contents, introduction, main part, conclusion and bibliography. When writing the final paper, it is advisable to use relevant citations which contribute to the explanation and elaboration of the topic, as well as footnotes to explain specific problems, concepts, or persons mentioned in the text in more detail. In terms of style, students are expected to express themselves accurately, using the style of scientific research at a level higher than the one used for writing seminar papers. Sentences should be grammatically correct, logically sound and concise. Each sentence should serve its purpose, build upon and expand the chosen topic. The final paper should also contain tables, images, graphs and illustrations where necessary.