Minors

Applied skills in accountancy

(available in all educational programs of the University of Narхoz, not in educational program « Accounting »)

language of study: English;

number of listeners (min): 16;


Minor «Applied skills in accountancy» - develop the skills for a successful career as a professional manager and accountant. Building on existing knowledge and understanding, Applied Skills develops strong, broad and practical finance qualities required of strategic professional accountants in any sector or industry.

Discipline 1: «Intermediate financial accounting» – 6 credits

The course is aimed at developing analytical skills and critical thinking in the field of business. Using generally accepted principles and procedures of financial accounting, students will be able to properly prepare and present financial information for internal and external users.

Topics of the course: the time value of money, income recognition, accounting for accounts receivable and inventory, long-term assets. liabilities and equity, reporting analysis. Students will master accounting for operating and financial liabilities, accounting for leases, accounting for

equity, and investment in financial assets by solving case-studies. As a result, the student will be able to demonstrate an understanding of transaction analysis, classification, and generalization of short-term assets, long-term assets and liabilities in the accounting cycle, generate financial statements. This course is harmonized with the ACCA and CIMA programs.

Discipline 2: «Management accounting and control» – 6 credits

The course is aimed at the formation of the basic competencies necessary for the formation of budget planning and control. Topics: traditional, functional and other calculation techniques, break-even analysis, relevant costs, variance analysis, advanced variances, budgeting structure,

budget control, forecasting techniques, risk and uncertainty for decision making. Students will solve management problems, work in a team according to the Flipped Class method. The course will end with a written exam. Guest lecturers are specialists in management accounting. This

course is harmonized with ACCA and CIMA P1.

Discipline 3: «Financial reporting» – 6 credits

Prerequisite: Intermediate financial accounting

The main areas of the course cover the reporting of financial information for single companies and for groups in accordance with generally accepted accounting principles and relevant IFRS Standards. Students can learn and apply on practical cases conceptual framework

and International accounting standards for financial reporting, account for transactions in accordance with IFRS, analyse and interpret financial statements, prepare and present financial statements for single entities and business combinations. The course designed to progressively broaden and deepen the knowledge, skills and professional values demonstrated by the student on their way through the ACCA qualification.

Discipline 1: «Audit and Assurance» – 6 credits

The course includes the study of audit functions, including ethics and requirements for professional behavior of the auditor; methods for audit risk assessing; planning an audit of financial statements and determining methods for conducting audits and audit tests. The course content is compiled in accordance with International standards on auditing (ISA). Students will work in groups and individually on the proposed situational tasks and real cases. It is expected to invite practicing auditors as experts. The course ends with a written exam with situational tasks. The course is harmonized with the ACCA program.

Human Research Management

(available in all educational programs of the University of Narхoz, not in educational program «HR and Business Planning»)

language of study: English;

number of listeners (min): 16;


The activity of any enterprise consists of many processes, and it is effective only if it is subordinate to the ultimate goal and coordinated with other operations. Business management is tightly interrelated with concepts of human resources management. The best example of successful management of personnel is «TOYOTA» company. In this company we can learn the effective system of personnel management which allowed employees to grow in their career from a simple mechanic to a manager.


The Human Resources Department plays a key role in the management of the modern organization, for which personnel specialists need professional knowledge in the planning, development and analysis of alternative strategies, decision-making, effective communication,

creation of working groups, motivation of employees, and conflict resolution.


You can acquire this knowledge and master the skills of recruiting and selection of personnel, correct placement of personnel, correct motivation of employees by mastering the discipline of Minor «HUMAN RESEARCH MANAGEMENT».

Minor 1 «Human Resources Management», 6 credits

Prerequisite: not required

The course includes the components of HR management as a system, including planning, evaluation, recruitment and adaptation of personnel, considers the role of human resources management in the organization. Relationship of the organization’s policy and philosophy with the requirements of the management staff, and the personnel management service. Considers HR management technologies, including recruitment, selection of personnel, personnel evaluation, mechanisms for motivation of staff, assessment and certification measures, types and forms of remuneration and compensation payments, training process, and career development of staff.


As a result of mastering the discipline, the students will achieve the following results:


– will be able to understand and accept its role in the organization, organize and participate in group work;

– will be able to determine the goals, tasks and types of the current personnel evaluation in accordance with the strategic plans of the organization, to master methods of personnel evaluation;

– will be to apply methods of selection and recruitment procedures, to conduct personnel management;

– will know the principles of formation of a system of motivation of personnel.

Minor 2 «HR processes», 6 credits

Prerequisite: not required

The discipline contains: document management processes, labor regulation, analysis of personnel data using digital technology (1C), forms of providing personnel reviews, use of personnel resources for the effective implementation of organizational tasks. During practical classes, students will master the program «1С personnel management», learn to draw up standard job descriptions and regulations, as well as study legal acts and regulations in the field of personnel management.


Upon completion of the course students will achieve the following results:


– will be able to construct organizational structures of the enterprise;

– will know how to organize HR processes at the stage of growth, maturity and stability of the company, with a large or small number of personnel;

– will be able to apply timing, assessment of certain production operations;

– will be able to establish continuity of processes by reducing the «human factor».

Minor 3 «Compensation Management», 6 credits

Prerequisite: not required

The course will make it possible to systematize students’ knowledge and skills in the field of remuneration and motivation of labor, scientific and methodological support of the compensation management system at enterprises, as one of the key areas of labor economics, based on knowledge of economic laws of society development, foreign and domestic experience in the formation and distribution of funds to ensure the reproduction of labor. The discipline includes: methods of staff assessment, practical skills in the organization of evaluation procedures, diagnosis of problems in the field of compensation management, design of a compensation package, justification of material incentive solutions based on the analysis of the remuneration system, to achieve the goals of the organization and create planning models according to personnel needs. Results of training will be mastered through development of project of assessment and compensation policy for Kazakhstani companies.


Upon completion of the course students will achieve the following results:


– will know the functions of compensation policy, principles, stages of its formation, research methods;

– will master methodological approaches to the development of the organization's basic wage structure using grading, the basis for the development of remuneration systems and the formation of a compensation package;

– will be able to use research methods to analyze the compensation policy of the organization, determine the compensation policy strategy;

– will participate in the development of a system of indicators for bonuses, a system of social benefits, a system of compensation for various departments of the organization and individuals, taking into account the goals and capabilities of organizations;

– will learn to systematize methods of assessing the effectiveness of the system of tangible and intangible incentives;

– will participate in research to analyze an organization’s compensation policy, identify its strengths, weaknesses, opportunities, and threats.

Minor 4 «Talent Management», 6 credits

Prerequisite: not required

The course will make it possible to systematize students’ knowledge and skills in the field of remuneration and motivation of labor, scientific and methodological support of the compensation management system at enterprises, as one of the key areas of labor economics, based on knowledge of economic laws of society development, foreign and domestic experience in the formation and distribution of funds to ensure the reproduction of labor. The discipline includes: methods of staff assessment, practical skills in the organization of evaluation procedures, diagnosis of problems in the field of compensation management, design of a compensation package, justification of material incentive solutions based on the analysis of the remuneration system, to achieve the goals of the organization and create planning models according to personnel needs. Results of training will be mastered through development of project of assessment and compensation policy for Kazakhstani companies.


Upon completion of the course students will achieve the following results:


– will know the functions of compensation policy, principles, stages of its formation, research methods;

– will master methodological approaches to the development of the organization's basic wage structure using grading, the basis for the development of remuneration systems and the formation of a compensation package;

– will be able to use research methods to analyze the compensation policy of the organization, determine the compensation policy strategy;

– will participate in the development of a system of indicators for bonuses, a system of social benefits, a system of compensation for various departments of the organization and individuals, taking into account the goals and capabilities of organizations;

– will learn to systematize methods of assessing the effectiveness of the system of tangible and intangible incentives;

– will participate in research to analyze an organization’s compensation policy, identify its strengths, weaknesses, opportunities, and threats.

Financial Analyst CFA

language of study: English;

number of listeners (min): 16;


Minor's goal: development of professional competencies in the field of finance that is sufficient to cover part of the CFA level 1 exam. The program provides four main directions aimed at studying: the basics of preparing financial statements of companies and its analysis, the relationship between the economy and financial markets, fixed income assets and investments in the equity market.


Results – Exam

Employer partners: investment companies, enterprises of all forms of ownership.

Prerequisites: Introduction to finance, Introduction to Financial Accounting

Discipline 1: Financial reporting and analysis – 6 credits.

Discipline description:


The course covers the basics of preparation of 3 financial statements: the statement of financial position of the company, the profit or loss statement and the statement of cash flows, which allows to develop the skill of understanding the financial statements of companies. Also, within the framework of the discipline, students will apply different techniques for analyzing financial statements.


Successful completion of this course will allow you to apply the knowledge gained in the practice of financial work at enterprises of all forms of ownership.

Discipline 2: Fixed Income Securities – 6 credits.

Discipline description:


This course introduces the unique attributes that define fixed income securities. The discipline also provides an overview of the global debt markets. Primary issuers, sectors are considered, types of bonds are explained. Key concepts of calculating and interpreting bond prices, yields and spreads are developed. At the same time, it covers the risks associated with investments in fixed income instruments.

Discipline 3: Financial Economics – 6 credits.

Discipline description:


This discipline will introduce you to fundamental microeconomic and macroeconomic concepts that are directly related to financial analysis and investment management.


Microeconomic factors, such as a firm's competitive (or non-competitive) environment and pricing strategy, can be critical in predicting cash flows and investment choices. Output, global trade flows, monetary and fiscal policies, and the business cycle are key factors in investment

analysis and economic forecasting.

Discipline 4: Ethical and professional standards – 6 credits

Discipline description:


The course is aimed at forming a complex of knowledge about the process of standardizing professional norms and ethical principles of work in global financial markets, taking into account the peculiarities of the regulatory and legislative environment of the domestic and international

market, as well as developing practical skills in applying these norms and principles. The course consists of 4 modules Ethics and Trust in the Investment Profession, Code of Ethics and Standards of Professional Conduct, Guide to CFA I – VII Standards, and Global Investment Performance Standards (GIPS)