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Master's Programme in Sustainability Reporting and Financial Analysis 60 credits

En grupp människor som sitter i en föreläsningssal
Image: Amos Åberg

About the programme

In this double degree programme, you will study accounting and finance with a strong sustainability perspective at two leading Nordic business schools. Graduates can pursue careers as sustainability experts in areas like sustainable finance and CSRD compliance, while also being well-prepared for roles in traditional finance and accounting. The programme's unique integration of sustainability, along with its international scope, equips you to make a real impact in shaping sustainable business practices.

While studying

At this innovative double degree programme, you will gain expertise in accounting and finance with a specialized sustainability perspective from two successful Nordic Business Schools: Umeå School of Business, Economics and Statistics at Umeå University in Sweden and Hanken School of Economics in Vasa, Finland. This focused one-year programme not only provides a unique educational experience in two dynamic environments, but also awards you a desirable double degree focusing on highly relevant topics for a career in business.

During the first semester, you will study at Umeå School of Business, Economics and Statistics (USBE), where you will study our 30 credit course, Financial Analysis, Sustainability and Reporting, you will study four different modules, Financial Reporting and Analysis; Advanced Management Accounting; Advanced Financial and Sustainability Reporting; and Risk Management. These modules will give you a deep understanding of topics that are essential in the current business landscape. All modules integrate sustainability perspectives to the key themes of the corresponding modules.

During the second semester, you will study at Hanken School of Economics, where the courses will focus on areas such as Financial Modelling, Sustainable Finance and ESG Analysis. You will also write your Master's thesis at Hanken School of Economics. After completing the Master's programme, you will receive two degrees, one from each business school.

Courses

Semester 1 (Umeå)

Financial Analysis, Sustainability and Reporting 30 credits.
Financial Reporting and Analysis 7.5 credits.
Advanced Corporate Finance 7.5 credits.
Advanced Financial and Sustainability Reporting 7.5 credits.
Risk Management 7.5 credits.

Semester 2 (Hanken School of Economics, Vaasa, Finland)

Sustainable Finance, ESG analysis and thesis project, 30 credits.
Financial Modelling Using MS Excel and VBA 5 credits.
Sustainable Finance 5 credits.
Financial Reporting and ESG Analysis 5 credits.
Thesis project 15 credits.

 

Programme coordinator is Tobias Svanström.

Applies to all 60 credit Master's programmes at USBE

We integrate competencies in our programmes

In our programmes and courses we focus on competencies that are needed for your future professional life.

Read more about integrated competencies

Sustainability perspective all the more important

Sustainability get a whole lot bigger attention in today's firms and organizations and we lifted these questions up early in our educational programmes. Together with our students are we working for a more sustainable business school and to revise the courses to improve the education about, and for, sustainable development at the programme independent of your choice between business administration and economics. Our work on sustainability takes as a starting point the 17 sustainable development goals and Agenda 2030.

We are certified by the environmental management system ISO 14001 and we are members of the international networks GBSN, PRME and SDSN.

Read more about our work on sustainability

Academic quality, international recognition, and education with purpose

At Umeå School of Business, Economics and Statistics, your master’s studies are part of something larger – a commitment to academic excellence, societal relevance, and sustainable development. Our quality assurance system, grounded in both Swedish national standards and leading international frameworks, ensures continuous improvement of our programmes. We are proud to be accredited by AACSB – a prestigious mark of quality held by fewer than 6% of business schools worldwide.

Through student-centred learning, active collaboration with business and society, and an integrated sustainability perspective, you will develop the skills and insights needed to lead change and contribute to a better future.

Corporate connections

The business school interacts with companies and organisations in various ways. This can be done through, for example, guest lectures, company visits, career lectures, essay assignments, cases or internships, and in this way we create the conditions for a mutual exchange that benefits all parties.

Continued studies

You are eligible for doctoral studies after the programme.

 

Show programme syllabus

Future and career opportunities

Graduates of this programme will be uniquely positioned to pursue a career as sustainability experts in accounting or finance, for example financial analyst, CFO, chief accountant, controller. Graduates will receive an educational background which makes it suitable to work with both traditional tasks within finance and accounting as well as with sustainable finance and the new CSRD directives, which will have a big impact on both large and small corporations. The programme's international character provides good opportunities for a career abroad. The programme will also give you eligibility to apply for doctoral student positions at USBE.

Apply

  • Autumn 2025

    • Master's Programme in Sustainability Reporting and Financial Analysis

      International admissions round

      Autumn 2025 / Umeå / English / On site

      Show more Show less

      Start

      Autumn Term 2025

      Number of credits

      60 credits

      Type of studies

      On site

      Study pace

      100%

      Length

      1 year

      Study location

      Umeå

      Language

      English

      Application code

      UMU-M2002

      Eligibility A bachelor's degree of at least 180 ECTS, of which 75 ECTS in Business Administration or equivalent, with at least 22,5 ECTS in Accounting and/or Finance. Proficiency in English equivalent to Swedish upper secondary course English 6/B is required. Where the language of instruction is Swedish, applicants must prove proficiency in Swedish to the level required for basic eligibility for higher studies.
      Selection

      Selection is based on GMAT, GRE General Test, and academic credits in this order. The selection of applicants is done in the following order: 1. Test results from GMAT (Graduate Management Admissions Test). GMAT Exam (10th edition): minimum 550, GMAT Exam (Focus edition): minimum 515. Percent of testresults is the applicants meritrating. 2. Test results GRE General Test. Minimum result score 150 in Quantitative reasoning. 3. Academic credits accrued by the last application date (in the range of 30-285 credits equivalent to ECTS). For GMAT and GRE General Test scores must be submitted directly to Umeå University. For GMAT you need to indicate Umeå University when registering for the test, for GRE General Test you indicate you are applying to Umeå University with the institution code 1489. You can in addition upload the test results in universityadmissions.se
      Degree

      After completed study programme, a student who has applied for a degree certificate can obtain a Degree of Master of Science (60 credits) according to the local qualification descriptor established by the Vice-Chancellor (see Umeå University's web site). The degree is awarded in the main field of Business Administration with a specialisation in Sustainability Reporting and Financial Analysis.
      Application

      Application deadline was 15 January 2025. The application period is closed.

      Application and tuition fees

      As a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.

      Application fee: SEK 900

      Tuition fee, first instalment: SEK 133,300

      Total fee: SEK 133,300

      Details about tuition, fees and funding

      Additional information about fees

      Tuition fee for fee-paying students consists of SEK 48,300 (Umeå) + EUR 7,500 (Hanken).

      All students, including non-fee paying students, must pay the mandatory student union fee in Finland and the mandatory student healthcare fee in Finland.

       

    • Master's Programme in Sustainability Reporting and Financial Analysis

      Second admissions round for EU/EEA citizens

      Autumn 2025 / Umeå / English / On site

      Show more Show less

      Start

      Autumn Term 2025

      Number of credits

      60 credits

      Type of studies

      On site

      Study pace

      100%

      Length

      1 year

      Study location

      Umeå

      Language

      English

      Application code

      UMU-P2002

      Eligibility A bachelor's degree of at least 180 ECTS, of which 75 ECTS in Business Administration or equivalent, with at least 22,5 ECTS in Accounting and/or Finance. Proficiency in English equivalent to Swedish upper secondary course English 6/B is required. Where the language of instruction is Swedish, applicants must prove proficiency in Swedish to the level required for basic eligibility for higher studies.
      Selection

      Selection is based on GMAT, GRE General Test, and academic credits in this order. The selection of applicants is done in the following order: 1. Test results from GMAT (Graduate Management Admissions Test). GMAT Exam (10th edition): minimum 550, GMAT Exam: minimum 515. 2. Test results GRE General Test. Minimum result score 150 in Quantitative reasoning (we do not take the other scores into consideration). 3. Academic credits accrued by the last application date (in the range of 30-285 credits equivalent to ECTS). For GMAT and GRE General Test scores must be submitted directly to Umeå University. For GMAT you need to indicate Umeå University (institution code: 81Q-GG-68) when registering for the test, for GRE General Test you indicate you are applying to Umeå University with the institution code 1489. You can in addition upload the test results in universityadmissions.se
      Degree

      After completed study programme, a student who has applied for a degree certificate can obtain a Degree of Master of Science (60 credits) according to the local qualification descriptor established by the Vice-Chancellor (see Umeå University's web site). The degree is awarded in the main field of Business Administration with a specialisation in Sustainability Reporting and Financial Analysis.
      Application

      Application deadline was 15 April 2025. The application period is closed. Please note: This second application round is intended only for EU/EEA/Swiss citizens.

      Application and tuition fees

      As a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.

      Application fee: SEK 900

      Tuition fee, first instalment: SEK 133,300

      Total fee: SEK 133,300

      Details about tuition, fees and funding

      Additional information about fees

      Tuition fee for fee-paying students consists of SEK 48,300 (Umeå) + EUR 7,500 (Hanken).

      All students, including non-fee paying students, must pay the mandatory student union fee in Finland and the mandatory student healthcare fee in Finland.

       

  • Autumn 2026

    • Master's Programme in Sustainability Reporting and Financial Analysis

      International admissions round

      Autumn 2026 / Umeå / English / On site

      Application opens 16 October 2025
      Save education at universityadmissions.se

      Show more Show less

      Start

      Autumn Term 2026

      Number of credits

      60 credits

      Type of studies

      On site

      Study pace

      100%

      Length

      1 year

      Study location

      Umeå

      Language

      English

      Application code

      UMU-M2002

      Eligibility A bachelor's degree of at least 180 ECTS, of which 75 ECTS in Business Administration or equivalent, with at least 22,5 ECTS in Accounting and/or Finance. Proficiency in English equivalent to Swedish upper secondary course English 6/B is required. Where the language of instruction is Swedish, applicants must prove proficiency in Swedish to the level required for basic eligibility for higher studies.
      Selection

      Selection is based on GMAT, GRE General Test, and academic credits in this order. 1. Test results from GMAT (Graduate Management Admissions Test). GMAT Exam (10th edition): minimum 550, GMAT Exam: minimum 515. Percent of test results is the applicants merit rating. 2. Test results GRE General Test. Minimum result score 150 in Quantitative reasoning (we do not take the other scores into consideration). 3. Academic credits accrued by the last application date (in the range of 30-285 credits equivalent to ECTS). For GMAT and GRE General Test scores must be submitted directly to Umeå University. For GMAT you need to indicate Umeå University when registering for the test, for GRE General Test you indicate you are applying to Umeå University with the institution code 1489. You should also upload the test results in universityadmissions.se.
      Degree

      After completed study programme, a student who has applied for a degree certificate can obtain a Degree of Master of Science (60 credits) according to the local qualification descriptor established by the Vice-Chancellor (see Umeå University's web site). The degree is awarded in the main field of Business Administration with a specialisation in Sustainability Reporting and Financial Analysis.
      Application

      The online application opens 16 October 2025 at 13:00 CET. Application deadline is 15 January 2026.

      Application and tuition fees

      As a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.

      Application fee: SEK 900

      Tuition fee, first instalment: SEK 133,300

      Total fee: SEK 133,300

      Details about tuition, fees and funding

      Additional information about fees

      Tuition fee for fee-paying students consists of SEK 48,300 (Umeå) + EUR 7,500 (Hanken).

      All students, including non-fee paying students, must pay the mandatory student union fee in Finland and the mandatory student healthcare fee in Finland.

       

    • Master's Programme in Sustainability Reporting and Financial Analysis

      Second admissions round for EU/EEA citizens

      Autumn 2026 / Umeå / English / On site

      Application opens 16 March 2026
      Save education at universityadmissions.se

      Show more Show less

      Start

      Autumn Term 2026

      Number of credits

      60 credits

      Type of studies

      On site

      Study pace

      100%

      Length

      1 year

      Study location

      Umeå

      Language

      English

      Application code

      UMU-P2002

      Eligibility A bachelor's degree of at least 180 ECTS, of which 75 ECTS in Business Administration or equivalent, with at least 22,5 ECTS in Accounting and/or Finance. Proficiency in English equivalent to Swedish upper secondary course English 6/B is required. Where the language of instruction is Swedish, applicants must prove proficiency in Swedish to the level required for basic eligibility for higher studies.
      Selection

      Selection is based on GMAT, GRE General Test, and academic credits in this order. The selection of applicants is done in the following order: 1. Test results from GMAT (Graduate Management Admissions Test). GMAT Exam (10th edition): minimum 550, GMAT Exam: minimum 515. 2. Test results GRE General Test. Minimum result score 150 in Quantitative reasoning (we do not take the other scores into consideration). 3. Academic credits accrued by the last application date (in the range of 30-285 credits equivalent to ECTS). For GMAT and GRE General Test scores must be submitted directly to Umeå University. For GMAT you need to indicate Umeå University (institution code: 81Q-GG-68) when registering for the test, for GRE General Test you indicate you are applying to Umeå University with the institution code 1489. You can in addition upload the test results in universityadmissions.se
      Degree

      After completed study programme, a student who has applied for a degree certificate can obtain a Degree of Master of Science (60 credits) according to the local qualification descriptor established by the Vice-Chancellor (see Umeå University's web site). The degree is awarded in the main field of Business Administration with a specialisation in Sustainability Reporting and Financial Analysis.
      Application

      The online application opens 16 March 2026 at 09:00 CET. Application deadline is 15 April 2026. Please note: This second application round is intended only for EU/EEA/Swiss citizens.

      Application and tuition fees

      As a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.

      Application fee: SEK 900

      Tuition fee, first instalment: SEK 133,300

      Total fee: SEK 133,300

      Details about tuition, fees and funding

      Additional information about fees

      Tuition fee for fee-paying students consists of SEK 48,300 (Umeå) + EUR 7,500 (Hanken).

      All students, including non-fee paying students, must pay the mandatory student union fee in Finland and the mandatory student healthcare fee in Finland.

       

How to apply

Apply online via universityadmissions.se  
You apply to our programmes and courses via universityadmissions.se – the official website for higher education applications in Sweden. There, you can track your application, check that your documents have been registered, and log in to find our your admission results. 
  
Late applications 
Admissions to most programmes and courses typically close after the final application deadline. However, some programmes and courses may still accept late applications if seats are available. These are marked “Open for late application” on universityadmissions.se. Please note that late applications are not guaranteed to be reviewed. 
 
More about application and admission 

Film about the programme

Student Voices on the Master's Programmes

Hear from students who share their experiences of studying at an advanced level at Umeå School of Business, Economics and Statistics.

Voices about the programme

  • Henrik Johansson

    Henrik Johansson

    Alumni

    A programme like this is much needed and it’s a prerequisite to cater to growing demand of competence in the market.

  • Karin Schäfer-Juslin

    Karin Schäfer-Juslin

    The future workforce needs to understand and learn to balance financial targets and expectations with sustainability perspectives and considerations.

Frequently asked questions

What are the language skills required?

Students are required to have proficiency in English equivalent to English course B/6 from Swedish upper-secondary school (high school). Proficiency in English can be proven by test scores from a number of internationally recognised tests.

Read more about language and entry requirements

What selection criteria are used?

The first selection criterion is the GMAT (Graduate Management Admissions Test) result. You need to indicate Umeå University to mba.com and also upload a copy of the results to universityadmissions.se. If you have no GMAT result, you are still eligible to apply for the programme but will be ranked after applicants with a GMAT result and according to the number of academic credits you have.

Register for a GMAT

Are there any tuition fees?

Citizens outside of EU/EEA and Switzerland will have to pay application fee and tuition fee.

Read more about tuition fees

Can I get any scholarships?

Some scholarships are offered by the Swedish Institute and some by Umeå University.

Read more about scholarships

Do I need to send in CV, Motivation letter or Recommendation letters?

No, none of those documents are required. If you submit them anyway they will not be considered.

Research excellence at Umeå University

Be a part of a world-class environment for teaching and research – where the Nobel Prize-winning discovery of CRISPR-Cas9 geneediting began, and where innovation continues to shape the future.

Questions about the programme?

Please be aware that the University is a public authority and that what you write here can be included in an official document. Therefore, be careful if you are writing about sensitive or personal matters in this contact form. If you have such an enquiry, please call us instead. All data will be treated in accordance with the General Data Protection Regulation.

Please be aware that the University is a public authority and that what you write here can be included in an official document. Therefore, be careful if you are writing about sensitive or personal matters in this contact form. If you have such an enquiry, please call us instead. All data will be treated in accordance with the General Data Protection Regulation.

Programme is given by
Umeå School of Business, Economics and Statistics (USBE)
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