Study aspects of accounting, taxation, finance, and economics to become a successful professional. Study aspects of accounting, taxation, finance, and economics to become a successful professional. Study aspects of accounting, taxation, finance, and economics to become a successful professional. Study aspects of accounting, taxation, finance, and economics to become a successful professional. Study aspects of accounting, taxation, finance, and economics to become a successful professional.

School of Business & Entrepreneurship

Department of Accounting and Finance

Master of Financial Management


Graduate Admission


Why Pursue a Master of Financial Management Degree at North Central College?

The one-year Master of Financial Management (MFM) degree represents a hybrid between accounting and finance, providing you the skills necessary to launch your financial career. The curriculum integrates aspects of accounting, taxation, finance, and economics to emphasize the skills and mindset necessary for you to be a successful professional.

If you earned an undergraduate accounting degree, our MFM degree and certificate options help you meet the 150 credit-hour requirements to sit for CPA exams in most states, while providing you more specialized training than a general MBA degree. 

We invite you to watch our MFM webinar to learn more.

MFM Degree Features

  • No prerequisites and no GMAT required: The degree is open to all graduates from any discipline. 
  • One-Year Master's Degree: As a full-time student, you can complete your master's degree in as little as one year.
  • Flexible Online Courses: Take online courses from anywhere in the world! They are designed to help you balance your work, life, and school. Learn more about graduate online learning at North Central.
  • Weekend Professional Development Experiences: Offered in a seminar-type of format, the residency component of the degree gives you the opportunity to network with your classmates and faculty face-to-face while learning from successful business professionals. 
  • State of the Art Bloomberg Financial Lab: If you are near our Naperville campus, you will have direct access to our new Bloomberg Lab, complete with stock ticker, computer work stations, and programs to simulate trades.
  • Business Fundamentals: Whether you are a current working professional or a recent graduate with a non-business major, you will be geared for success in your academic and professional career. Our core business courses provide you with the broad-based business fundamentals you need to apply the classroom theories directly to your work.

Learning Outcomes

  • Convey business concepts and original and creative solutions in a coherent and professional manner.
  • Apply data analysis, interpretation, and presentation skills to advanced and complex business situations.
  • Awareness and importance of managing global and multicultural personnel in a professional setting for international organizations.
  • Understanding of the ethical and social responsibilities of companies, organizations, and business professionals.
  • Expertise in the application of accounting and financial business concepts.

Personal and Professional Development

A key distinguishing feature of our degree is the residency experience. You will be immersed in a professional development conference atmosphere with content that bolsters our liberal arts approach to your business education. These experiences are not directly tied to specific course content but will provide you with relevant training in areas such as:

  • Data Analytics and Visualization
  • Leadership and Talent Development
  • Professionalism and Ethical Responsibilities
  • Personal and Professional Selling
  • Physical, Mental and Financial Health
  • Creativity, Curiosity, and Idea Generation

Master of Financial Management Curriculum

  • As a full-time student, you can complete your degree within one full year if you enroll in two courses each eight-week term, including the summer.
  • Part-time students can complete degree requirements within two full years if one course is taken each 8-week term, including summer.
  • 2019-20 Academic Calendar (PDF)

Core Courses: 15 credit hours

  • MBUS 500 - Data Analytics for Managers: This course is designed to develop analytical skills for business professionals as it pertains to data analysis, interpretation, and presentation. The course relies on real-world data to develop competencies in the approach and tools necessary to analyze data. Students will gain an understanding of how data scientists use data to inform business decisions. Students will develop familiarity with various data analysis and presentation programs commonly used by business professionals.
  • MFIN 510 - Financial Management (Prereq. for MFM courses): This course provides an in-depth analysis to corporate financial management. Students will study advanced concepts in financial accounting, financial analysis, and corporate finance. This course will ensure students have familiarity with necessary financial management topics such as, financial statement analysis, cash flow analysis, theory of capital structure, fundamentals of financial markets, and risk and return concepts.
  • MHRM 515 - Strategic Human Resource Management (Prereq. for MHRM courses): The course examines the role of human resource professionals as a strategic partner to organizational success.  Key activities are examined including recruitment, selection, training, development, job analysis, job design, compensation, benefits, performance management, and employee relations.  Best practices of employers of choice are analyzed.
  • MBUS 520 - Applied Managerial Marketing: This course examines marketing management as a cross-functional process that joins the marketing vision for an organization with its financial goals and production capabilities. An emphasis is placed on the development of a strategic marketing plan which includes targeting, positioning of good/services, and the marketing mix to achieve and sustain a competitive advantage. In addition, case studies are used to analyze marketing management problems and solutions.
  • MBUS 696 - Strategic Management (Capstone): Provides practice in diagnosing and identifying realistic solutions to complex strategic and organizational problems. The course builds on previous coursework by providing an opportunity to integrate various functional areas and by providing a total business perspective. Topics include an overview of strategic management, the process of choosing and defining purposes and objectives, identifying internal and external environmental factors relevant to strategic management, formulating and implementing a viable strategy and monitoring strategic performance. The course focuses on relationships among the firm, its strategy, and its environment; why firms choose certain businesses; which business strategies are successful; and how firms can change in response to a dynamic environment. (Prerequisite: 27 hours of completed graduate coursework, including MBUS 500, MFIN 510, MHRM 515, & MBUS 520)

Financial Management Courses: 15 credit hours

  • MFIN 610 - Financial Analysis and Insights: This course provides exposure to advanced and more complex decisions and situations faced by business professionals. Students will analyze accounting and financial implications of business decisions. Through the application of data analysis, students will interpret financial performance and trends and provide recommendations. (Prerequisite MFIN 510)
  • MBUS 609 - Global Supply Chain Design and Management: A comprehensive study of the concepts, processes, and models used in the design, development, analysis, and management of global supply chains. Students will study the major supply chain strategies, how to design and manage the most effective supply configurations and interrelationships to develop and maintain competitive advantage. Specific topics include global procurement, electronic commerce, facilities location, transportation decisions, routing and scheduling, distribution planning, information technology, and logistics systems design. (Prerequisite MFIN 510)
  • MFIN 620 - Internal Controls and Data Security in the Digital Age: This course is designed to develop knowledge and skills for security of financial information and information systems within organizations. This course provides students with a foundation and understanding necessary for assessing security risks and protecting financial and other information assets. Topics include security, integrity and availability of financial and other information systems, cloud computing, blockchain, and cryptocurrencies. It focuses on concepts and methods associated with planning, designing, implementing, managing, and auditing security to all levels and on various systems platforms. The course presents techniques for assessing risk associated with accidental and intentional breaches of security. (Prerequisite MFIN 510)
  • MFIN 630 - International Trade, Taxes, and Transfer Pricing: Operating a business in today’s world necessitates an understanding of international trade and tax law. Transfer pricing is the valuation of cross‐border transactions within a multinational enterprise (MNE). This course introduces students to theoretical and practical pricing approaches to intercompany transactions. In doing so, students will study business related motivations of MNEs and their subsequent tax impacts. Students will also become familiar with tax law as it pertains to the arm’s length standard from both a U.S. and international purview. (Prerequisite MFIN 510)
  • MFIN 640 - Merger, Acquisitions, and Other Business Combinations: Mergers, acquisitions and other types of restructurings have a dramatic impact on most corporations. Managers will face the challenges brought on by these changes in corporate structure. Furthermore, M&A provides an opportunity for gaining insight into key business issues. This course provides an overview of the strategic, financial, legal, and organizational aspects of merger-related challenges, while introducing corporate valuation concepts and techniques.  (Prerequisite: MFIN 510)

Elective Courses: 6 credit hours

You will select two elective courses from a variety of business disciplines including: Marketing, Management, International Business, Entrepreneurship, Human Resource Management, Accounting, Finance, and Economics. Electives can also be taken from other master’s programs.

  • Students with undergraduate degrees or significant coursework/experience in accounting or finance would be encouraged to replace the Financial Management Core course with an elective offering.

Weekend Professional Development Experiences

As an important piece of your professional development, you are required to attend one weekend residency experience during your master's degree. A weekend professional development experience provides you with opportunities to interact with business leaders willing to serve as mentors, meet program faculty, network with peers, and participate in value-added seminars specially designed to significantly enhance your career potential.

The professional development events are a unique feature of our program and are offered in a conference format with speakers and break out sessions, rather than a course led by one instructor. 

Professional Development Topics

Experienced professionals and guest speakers will host workshops and events on a variety of topics, which may include:

  • Data Analytics and Visualization
  • Leadership and Talent Development 
  • Professionalism and Ethical Responsibilities
  • Personal and Professional Selling 
  • Physical, Mental and Financial Health
  • Creativity, Curiosity and Idea Generation

Financial Management Faculty

Our faculty have real-world experience working in the financial sector and are able to bring case studies into your virtual classroom.

Ryan Decker

Assistant Professor of Economics; Director of the Center for Financial Literacy
+1 630 637 5248
David Gray

Professor of Accounting; Chairperson, Department of Accounting and Finance
Accounting and Finance
+1 630 637 5586
Patrick Gray

Half-Time Assistant Professor of Economics and Finance
+1 630 637 5499
Najrin Khanom

Assistant Professor of Finance
+1 630 637 5466
Doh-Khul Kim

Associate Professor of Economics and Finance
+1 630 637 5243
Suzanne Seymoure
Suzanne Seymoure

Associate Professor of Accounting
Accounting and Finance
+1 630 637 5587
Gerald Thalmann

Associate Professor of Accounting
Accounting and Finance
+1 630 637 5588
Dan Vitale
Dan Vitale

Assistant Professor of Accounting
Accounting and Finance
+1 630 637 5472

Certificate of Financial Management

The online Certificate of Financial Management program consists of five, 3-hour courses for a total of 15 credit hours. If you earned an undergraduate accounting degree, our MFM degree and certificate options help you meet the 150 credit-hour requirement to sit for CPA exams in most states, while providing you more specialized training than a general MBA degree.

Core Courses (6 hours)

You are required to take the core courses before taking any of the required courses.

  • Financial Management
  • Data Analytics

Additional Courses (9 hours) 

  • Select any three required courses from the Master of Financial Management degree. 
  • Students with an accounting or finance degree or relevant work experience may replace the core Financial Management course with an additional course offering from the MFM degree.

Residency Experience

You are required to attend one residency experience throughout your certificate program. 

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