You are here

School of Financial Director

Objective – professional retraining of financial directors, chief accountants, treasurers and other financial managers in managerial accounting, financial management and IFRS.

students are to:

Develop the concept of managerial accounting for their company

Which includes: principles of accounting policy, cost saving program, financial plan and master-budget

Undertake full course of IFRS and receive International Certificate ICFM/ACCA

As well as to generate consolidated statements for the company

Implement the most advanced algorithms of financial diagnostics

Having applied new methods of financial analysis, evaluation of the company’s growth prospects, capital structure optimization 

Develop a budget of cash flows and payment schedule

Having applied new approaches to management of liquidity, cash flows and current capital
  • To develop and evaluate the investment project
  • To evaluate their own business with due account of risks
  • To draw up prospectus and bond indenture
  • To learn reading the exchange information
  • To form and evaluate the development scenarios

Special aspects of studying in the school of financial director:

Mastering specific skills of finance management

Reorganization of financial service. Transformation of finance function in the company

Using active teaching methods

 Training workshops, business games, computer modeling, analysis of specific situations, and elements of distance learning

Coaching and individual consulting

Solving real problems of the company with assistance of the School’s consultants

Preparation of a graduation paper in the form of a real project for own company

The key problems of the company is solved within its framework using the advanced algorithms 


  • Additional option  - foreign internships (Great Britain, Spain, China, Lithuania, Switzerland, USA)
  • National Certification in Internal Audit
  • International Certification in Management Accounting (CIMA) in the Russian language, 1st and 2nd level

PROGRAMME PARAMETERS - Modular (intra-extramural studies)

Beginning of classes

May 19, 2017


10 months

Cost of study (paid on a quarterly basis)

385,000 rubles


4 modules, 2 weeks each


PROGRAMME PARAMETERS - evening classes

Beginning of classes

October 10, 2017


10 months

Cost of study (paid on a quarterly basis)

468,000 rubles


2 evenings + Saturday


Говорят выпускники

Alumni of the School of Financial Director

Having graduated from the Higher School of Finance and Management of the RANEPA we would like to express our gratitude and hearty appreciation to you personally, Dean of SHFM and all academic teaching staff of the School for priceless  knowledge given to us 

With every program and every group of students, equipping those who come to you with essential instruments on finance management you change our mentality by clarifying a true role of finance in management.
Finance is not limited to auxiliary accounting function any more, but it is a creative power playing a significant role in value growth of any modern company.
Each of us having decided to invest into ourselves, into our own development faced a quite difficult dilemma – where to obtain essential knowledge, where it would be possible to receive the maximum result from the invested resources.
We have chosen SHFM, and now we understand that we have chosen correctly.
Now, similar to many previous alumni of the School we would answer the question “Why SHFM/” in the following way: “Because if to study finance it is necessary to do in the best place with the best professors.”
The honorable mission of the School, its unique program, highly qualified teaching and administrative staff, strong scientific and academic basis , strict requirements to the students – all these things are obviously your competitive advantages, and this particular fact permits  SHFM to be considered the best financial school of Russia.
SHFM Diploma will be a source of pride for each of us and the received knowledge is the solid foundation for a qualitatively new stage of our professional development and personal growth. Graduating from SHFM is just a beginning of our route! We express our gratitude for a high-quality and efficient organization of the academic process, for responsive, patient and benevolent attitude to students.
We wish you good luck and high spirits and for the Higher School of Finance and Management – success and more capable and literate students.

RANEPA Certificate
RANEPA Diploma of Professional Retraining
Diploma of the British Institute of Certified Financial Managers (ICFM)
RANEPA Certificate of Advanced Training
Diploma of the Higher School of Finance and Management

Структура программы: 

    • Financial Accounting
    • Financial Statements Analysis
    • Financial Mathematics
    • Management Accounting: Cost Management
    • Management Accounting: Budgeting and Controlling
    • Operational Management: Working Capital Management
    • Balanced Score-Card
    • Capital Markets and Financial Instruments
    • Investment Portfolio Management
    • Investment Valuation and Capital Budgeting
    • Business Valuation. Mergers and Acquisition
    • Derivative Financial Instruments
    • Strategic Financial Management: Financial Diagnostics (training)
    • Business Organization with Due Account for Tax Implications
    • Strategic Analysis
    • Internal Control and Audit
  • IFRS
    • Concept Basics of Financial Reporting
    • Balance-sheet – Statements of the Company’s Financial Condition
    • Income Statement – Financial Results of the Company’s Activity
    • Cash Flow Statement
    • Workshop on Preparation of Financial Statements of the Company
    • Consolidated and Segment Reporting
    • Workshop on Preparation of Consolidated Statement
    • Workshop on Preparation of Cash Flow Statement and Company’s Reporting

Candidate of Economic Sciences, Associate Professor at the Higher School of Finance and Management, RANEPA. Scientific supervisor of the programme “IFRS: preparation and presentation of corporate financial statements”

Academic adviser at the Higher School of Finance and Management, RANEPA, CEO of COGITO Management Consulting, Head of the non-public investment fund, Head of complex projects in development and implementation of corporate strategies, financial and economic management systems, a business coach

Doctor of Economic Sciences, Professor of the SHFM RANEPA,  Dean's Deputy (Science), coordinating director of MBA programmes

Lecturer at the SHFM RANEPA, Candidate of Technical Sciences, Associate Professor

Lecturer at the SHFM RANEPA,
Economic and Financial Director of JSC “Vagonmashdetal”

Tatiana Korchevnaya
Managing Director of programs: MBA «Finance», PMBA «Finance», School of Financial Director (evening form of Studies)


119571, Москва, пр-т Вернадского, 82. 5-ый корпус, оф. 301-303