Capital Markets and Financial Institutions

This course consists of two major parts. The first part is devoted to the nature, role, and functioning of financial institutions in the developed capital market. The second part deals with the Russian capital markets and financial institutions. The principal goal here is to screen the local experience against worldwide theory and practices in order to identify both common and specific features of developed and emerging markets.

Konstantin Kontor,
AIBEc Professor
315-original

Art Franczek

Art Franczek is currently the president of The American Institute of Business and Economics in Moscow, he holds degrees in History and Political Science in addition to an MBA, CPA and a Masters of Taxation.

Accounting Analysis

Purpose of this Course

This course discusses Russia's transition to IFRS, IFRS issues such as Impaired loans, Credit Rating Agencies, Consolidations and others. Lack of accounting transparency is a principal cause of the current global crisis. This course covers such topics at Securitization, Credit Default Swaps, ABX indices and Fair Value. Cases on Citibank, AIG, Goldman Sachs, Lehman Brothers and others will be analyzed in this course. This course will be interesting not only for those in the financial sector but also for anyone who wants to understand how global issues impact the Russian Business environment.

Course Materials

Students are provided with a CD that includes the following materials:

  • Power point slides and required readings organized by topic.
  • Required Homework organized by topic.
  • Recent Harvard cases.
  • Supplemental material such as the most recent articles on Taxation and articles written by Art Franczek.

Grading

Grading of this course will be based on assignments, examinations and class participation.

During the course the students will have to prepare a case presentation, homeworks, and take the final take-home examination. Failure to attend 40% of classes leads to immediate failure in the course and loss of credit.

The course will be graded in accordance with the following schedule:

Class participation40%
Final60%
Total100%

Course Topics

  1. Analysis of credit rating agencies
  2. In-depth review of financial statements
  3. Manipulation of financial statements
  4. RAS/IFRS/Related parties equity accounting
  5. Business combinations/consolidations
  6. SPES/Securitizations/Leasing/IFRS/GAAP
  7. Foreign currency transactions/translations
  8. Fair value/Mark-to-market
  9. Non-performing loans/Central bank
  10. Causes of global crisis and future trends in accounting
  11. Sarbanes-Oxley

Cases for Presentation

  1. World Com
  2. Enron
  3. Parmalat
  4. Coca-Cola
  5. Bear Stearns
  6. Merrill Lynch
  7. Citigroup
  8. Goldman Sachs
  9. Lehman Brothers
  10. AIG

You can download description of the course here.

Principles of Marketing

Principles of Marketing Course is offered in First Summer Semester 2012.

Entrance Exam

You could take AIBEc Entrance Exam from March 26 till May 21, 2012. Students who achieve qualifying score on the exam pay reduced tuition.

May 14, 2012

First Summer Semester starts May 14, 2012. Registration is open. You can download registration form here.