Finance is undeniably the master key that unlocks the potential of any business. Whether you're starting a new venture, expanding an existing one, or investing in innovative product development, finance remains an essential pillar for success. Without a solid financial foundation, a business becomes vulnerable and unable to operate efficiently. With this idea in mind, we designed a special module during the TEE Executive MBA with focus on finance and accounting for managers, in which students will understand and harness the power of finance, being able to optimize the potential for growth and prosperity of the businesses where they activate, ensuring their resilience in the challenging and opportunistic marketplace.
Free session are available during this module for those interested to study the programme next year or just to explore this topic from a different perspective, the one provided by the depth and breadth of an Executive MBA programme.
Please register for one of the three sessions organised on Thursday, the 10th of August from 4 pm, Friday, the 11th of August from 4 pm, or Saturday, the 12 of August from 9 am. More details will be provided by email to those who register at
During the 4-days module delivered in Cluj by prof. Ionut Nistor from the Babes-Bolyai University - Faculty of Business, students will gain a comprehensive understanding of the crucial role accounting and finance play in organizational dynamics. This exploration encompasses an overview of accounting's contextual aspects, the utilization of financial statements and accounting information for effective decision-making, planning, and control. Managing significant funds entails overseeing cash flows, transactions, and the prudent allocation of financial resources. Regardless of the industry or scale of operation, finance management is indispensable for both small enterprises and large corporations.
Already a recurring set of subjects essential to the executive business world, areas like environmental issues, ethical behaviour, corporate strategy and risk management will be explored through the lens of this module’s focused topic. By the end of the module, the students will gain a good understanding of the accounting processes, methodologies and financial principles and tools, the role it plays in business, the terminology used in these fields as well as the ability to interpret and evaluate the information provided.
Learning how to take quantitative data and use it to solve problems and make sound business decisions is a valuable skill that can serve executive in their career now and in the future. The module will empower students with knowledge and skills in analytical thinking, continuous processes, managerial decision concepts, maintaining a balance between risk and profitability.
Ionut Nistor, lecturer of the module: “I believe that regardless of the field in which you work, you need knowledge of finance. Even to better manage yout personal budget or understand what is happening in the economic environment. Moreover, both as an entrepreneur and as a manager in a firm, understanding financial reports, financial indicators is most important to understand the state of the firm. After completing the Finance and Accounting module, students will be able to look at the company's financial reports and understand what is going well and where their intervention is needed, justify their investment decision correctly and objectively, make an adequate budget or analyze what are the possible sources of financing for their company.”
LECTURING STAFF AND GUESTS
Ioan-Alin Nistor is Professor of Finance at the Faculty of Business within Babeș-Bolyai University of Cluj-Napoca. He is active in both academia and the business environment. After he obtained his PhD in finance from Babeș-Bolyai University, Ionut pursued a post-doctoral programme at Kobe University (Japan). Later he enrolled in an Executive MBA programme at Hull University (UK) which he graduated in 2018. He is a Fellow of the Aspen Institute where he attended the Public Service Leadership program.
He plays an active role as an analyst and consultant for companies on specific projects. In academia he carries out research in finance and also teaches internationally at universities in Europe and Asia. In 2019, Ionut became an Honorary Professor of Heilongjiang International University, China. He is the Founder of the Japanese Cultural Centre at Babeș-Bolyai University.
He served as Dean of the Faculty of Business for 8 years and as member of the administrative board of Babeș-Bolyai University. He is acting now as a member in the board of BT Asset Management and BT Leasing, two of the divisions of Banca Transilvania Group.
“Communicate, discuss, think out loud! It's the perfect place and time to express your views and develop your knowledge through simple discussion during presentations or breaks. There is no such thing as a "wrong question". Each question brings something extra and can help you develop your personal skills”, is Ionut advise for the current EMBA students.
Please register for one of the three sessions organised on Thursday, the 10th of August from 4 pm, Friday, the 11th of August from 4 pm or Saturday, the 12 of August from 9 am. More details will be provided by email to those who register at
The international perspective on this topic will be offered by our guest lecturer - Graeme Reid from the United Kingdom. He has lectured and leaded the Accouting, Finance and Economics Department at Hull University Business School, being passionate about this topics and entrepreneurial matters. Graeme qualified as an accountant in May 1988, becaming a fellow of the ICAEW in August 1998 and a Fellow of the ACCA in January 2001. Recently he become the Finance Director of Kexgill Group. He taught previously in Romania for the Executive MBA delivered by the University of Hull in Cluj.
Join the Executive talk - Thursday, from 6 pm
An integral aspect of our educational experience is enriching students' understanding of the module topic through a practical exploration of its relevance within the dynamic landscape of the Romanian market. With this idea in mind, we invited Costin Borc as a guest speaker for the Finance and Accounting module. The talk will take place on Thursday, 10th of August, from 6 pm. Please register here if you want to participe at the face-to-face event held in Cluj, at BT Campus (Calea Dorobantilor 30).
Costin Borc is the Deputy Director in charge of Africa and Eastern Europe for the SNEF Group, managing operations, strategic projects and development activities in the following sectors: energy, industrial processes, telecommunications, information technologies, robotics and engineering. With a managerial experience of more than 20 years, including 18 in the building materials groups Lafarge and CRH, he first joined Lafarge Cement in Kansas City, MO, in 2000. Managing Director of the Aggregates & Concrete business in Bucharest (2002 - 2006), then Director of Strategy in France (2006 - 2008), CEO in Serbia (2008 -2013) and CEO in Romania (2013-2015). Between January 2017 and October 2018, he was responsible for special projects for the CEO and Regional President Europe of CRH. Since November 2018, Costin Borc has been the director for Eastern European countries within the French SNEF Group, and since March 2021 he has been the delegated director for Africa and Central and Eastern Europe.
Beside the business experience, Mr. Borc was state adviser to Prime Minister Radu Vasile in the period 1998-1999 and Deputy Prime Minister and Minister of Economy, Trade and Business Environment in the Dacian Ciolos Government 2016-2017.
A graduate of the Polytechnic University of Bucharest, majoring in Hydropower (1989), Mr. Borc obtained a doctorate in economics at the University of Wisconsin-Madison (2001).