Finance, Control and Sustainability



The Master in Finance, Control and Sustainability aims to train managers able to strategically manage the financial area of companies, to control economic and sustainability performance in order to direct business choices toward growth compatible with environmental and social needs in the long term.

Mapping business processes, analyzing internal activities and understanding their performance, designing planning systems and cost analysis are some of the practices for which this Master offers new tools to provide a transversal vision, that includes economic-financial dynamics and ESG objectives (responsible environmental management, sustainable and in accordance with global goals of climate change mitigation and resource preservation).

Full-time, 12-month, and Italian-language, Bologna Business School‘s Master in Finance, Control and Sustainability is built on the School’s best expertise: high-profile management training, guaranteed by the international Faculty and direct contact with the University of Bologna and local companies, and the study of sustainability topics, in the most pragmatic forms to implement effective and impactful practices. Thanks to the BBS Initiative for Sustainable Society and Business, the School is a pioneering hub in Europe and around the world for the application of interdisciplinary research on ESG criteria.

With a focus on the practical aspects of training, BBS offers alternative study paths to face-to-face classes only: Project Work and 600 hours of internships provide participants in this Master with training that is immediately spendable in the company. The School’s global network supports this program, which is a true fast track to the world of work.



Young graduates with diverse academic backgrounds who want to connect two key areas for current and future business – finance management and sustainability – to have a significant impact and positively influence the company from both an audit and consulting perspective.

Companies are looking for partners to collaborate with in order to grow economically with a view to sustainability. The Master in Finance, Control and Sustainability, with a placement rate of over 95% six months after the end of the course, provides companies with answers to these increasingly pressing requests.




The cross-functional profile that is trained in the Master in Finance, Control and Sustainability will be able to enter positively in companies as in consulting agencies, developing an important competitive advantage to start different career paths with equal preparation.

Roles such as auditor, controller or consultant in the fields of economics, finance or sustainability are the natural outgrowth of a course of study that, thanks also to the BBS Career Service, capable of tailoring the most suitable personal and professional development plan for each student, immediately becomes a key to entering the world of work.

Businesses are seeking strategic partners to entrust them with their economic growth. Contact the master Tutor to begin this pathway.



Bologna Business School provides student support services included in the tuition fee for the Master.


Programme Advisory Committee:

  • Laura Amadesi, Managing Director, Antexis Strategies – Gruppo Tinexta
  • Giovanni Campolungo, CFO, Gruppo Sacmi
  • Andrea Curti, CFO, Montenegro Group
  • Giampietro Gardellini, CFO, Officine Maccaferri
  • Alberto Guerzoni – Partner, Deloitte & Touche
  • Massimo Mazzolani, CFO, Camplus
  • Luca Moroni – CFO, A2A
  • Roberto Sollevanti – Partner, PricewaterhouseCoopers
  • Massimo Tamburini – Partner, KPMG
  • Matteo Tigretti – CFO, Safe
  • Elisa Vicenzi – Partner, Ernst&Young




Bologna Business School is EQUIS – EFMD Quality Improvement System accredited, one of the most important international quality assessment and continuous improvement systems for Schools of Management and Business Administration.

Marco Maria Mattei

Marco Maria Mattei

Director of Studies

" Attending this Master will allow you to construct a professionalism of assured appeal for any type of company, thanks to the acquisition of an analytical approach to problems and tools specific to an economic-financial environment. The completeness of your profile will allow you to orient the decision makers and, while growing in the company, will allow you personally to make these crucial choices. "

CLASS PROFILE A.Y. 2023/2024


  • 25


  • 36%



The Master in Finance, Control and Sustainability is a full-time program structured in 1.500 hours of learning activities over 12 months of study, divided into: 360 hours of lecturing, an estimated 540 hours of independent study, and 600 hours of internship.
The structure of the Master is divided into:

  • First term: January 2025 – April 2025
  • Second term: May 2025 – July 2025
  • Internship: September 2025 – December 2025

The first term consists in the study of fundamental subjects including lessons taught by managers and partners from auditing companies. The first term will conclude with an intense real-life business case.
During the second term there will be a more in depth study of the advanced subjects. The use of case history, company testimonials, project work and lectures will be utilized to refine and amplify our students’ expertise in understanding of the topics.



This course will tackle the following topics: detection and analysis of the internal control system, risk management. Auditing, reviewing budget reports, preforming legal checks on accounts. The methodological approach in reviewing accounts. Legal investigation of accounts for industrial and commercial companies. Fraud auditing.

Rusticali Giorgio

Corporate sustainability and the circular economy are currently among the most discussed topics internationally, also due to climate change. The aim of the course is to understand why these issues are of such importance, underlining their urgency. We will learn more about the innovation activities of operational and system processes that companies adopt to implement strategies aimed at the Circulary Economy and the transition to a low carbon business model.

Foschi Eleonora

The evaluation of terms of convenience of investment projects. The determination of the value of a company. Understanding fiscal variables that determine the optimal financial structure. Venture capital and the principle problematic characteristics to the value of a company. 

Della Bina Antonio Carlo Francesco

The decision making process of the company and strategic positioning, the evaluation of the politics involved in each of the activities of a company. Analysis of the critical success factors in the related market, the resources and the specific competencies of a company. The process of creating value and the role of relationships with other companies within the business system. Business Plan and its deployment.

Di Marco Paolo

The concept of cost. The principle of relativism and the main information needs  about the cost calculations. The role of management accounting within the company’s accounting system. The classifications of costs. The reference objects. The stock records. The cost of labor. The cost of durable productive factors. The issue of the allocation of indirect costs. The allotment criteria. only Base, multiple basis and cost centers. The cost of product configurations. Full cost and Direct cost. The income statement “flag.” The costs to support business decisions. The break-even analisys. Defining COAN and articulation of its elaboration process. Method of keeping the COAN. The accounting for cost centers (recovery and investigation). The Activity Based Costing. Differences between the two methodologies. The target costing.

Capodaglio Alessandro
Gigli Sabrina

The course aims to introduce students to the most relevant issues (foundational and more advanced) of digital technologies, discussing the most important present and future consequences on the lives of individuals and on the structure and functioning of organizations and processes. The course consists of 5 seminars: Ai & Machine Learning, All-in Security, Cloud & Beyond, The Science of Data, Internet of Things.

Accounting, budget and analysis of costs. The evaluation and interpretation of the economic–financial performance of the company. Economic-financial analysis forecast and budget. The calculation and analysis of the costs in decision making and for management control. Management control as an operative mechanism. Systems of control and strategic cost management.

Mattei Marco Maria

Provides an overview of annual financial reports: logic; objective; postulates; evaluation and representation of items consistently with International Financial Reporting Standards (IAS-IFRSs) and Italian Accounting Standards (OICs). Coordination between the net income emerging from the income statement and the taxable income. Financial consolidated statements: objectives and rules for drafting..

Gianfelici Cristina

The course introduces the basic principles of accounting: economic information, how it is developed, how it is used. The budget and the main management control tools will be introduced to improve decision-making and problem-solving skills in a business context.

Gigli Sabrina

Evaluation of investment projects. Evaluation of international projects. Financial structure. Optimal financial structure. Instability costs. Planning debt. The politics of dividends and stock buyback. Cost of the working capital of the company. The important role of capital and corporate governance.

Baschieri Giulia
Carosi Andrea
Santini Renato

The analysis and the planning of the control systems. Monitoring systems of the multidimensional performance. Value based management. Management of costs and the techniques of cost management. Monitoring and reporting of the intellectual capital. Incentive systems. Management of costs between companies and during new project phases. Target cost management: strategic control of innovation. Customer value management and pricing techniques.

Montanari Angela
Supino Enrico

The course covers topics in corporate finance with reference to the banking system.

After analyzing the functioning of the financial system, the course addresses the theme of evaluating financial risks with a particular focus on credit risk and corporate ratings. Debt instruments, such as bonds, represent market applications of credit ratings.

Creditworthiness assessment and risk management are essential elements for structuring a healthy bank-company relationship.

FinTech and online platforms complete the framework of reference for corporate banking.

Torluccio Giuseppe

Learning approach

The educational sessions provide different learning methods, including lectures, simulations, discussions of case studies, presentations by companies, testimonies and group work.

The curriculum is complete with a series of Master Lectures given by professionals from the world of business, academia, and politics, which also provide numerous opportunities for discussion and interaction with the business world through case histories.


The integration with companies is a priority and an ever-present feature of all programs of the Bologna Business School, hence for the Master in Finance, Control and Sustainabiliy too.
The School is fully committed to creating employability, by way of a systematic career service action, constantly focused on matching at best the students’ professional projects with the needs companies have.
The internship is an exceptional springboard, suffice it to say that six months after the end of the full-time masters at Bologna Business School on average 90% of students work in a company.

The BBS Career Service assists and supports students since the very beginning, along a training and professional development path. This is accomplished by organizing a series of workshops, with the aim of providing the fundamental tools and resources to be appropriately prepared for the labor market.

To achieve this goal, students are involved in several workshops, among which we may list:

  • Writing a CV and a Cover Letter
  • How to create an effective Linkedin profile
  • How to prepare for a job interview


In addition to this, thanks to the collaboration with professional career counselors, students receive a customized service, in order to understand their strengths and to build a professional development plan, which will turn out to be helpful when looking for an internship. Here follow some of the activities:

  • Initial guidance interviews
  • Specific interviews, focused on one’s own career plan
  • Continuous support to students with one – to – one sessions



Matteo Bonfante

Associate Auditor, PWC
Master in Finance, Control and Sustainability (A.Y. 2022/2023)

"The Master of Science in Finance, Control and Sustainability proved to be an extremely rewarding educational experience of great professional value. I was deeply impressed by the balanced combination of theory and practice offered by the program, which contributed significantly to consolidating my skills in finance and auditing. The professors, with their vast experience and expertise, managed to impart not only knowledge but also a genuine passion for each subject. I believe the Master's program played a key role in preparing me to face the challenges and opportunities of the professional world with confidence and competence"

Silvia Rassu

Commercial Controller, Phoenix Pharma Italia
Master in Finance, Control and Sustainability (A.Y. 2021/2022)

"Having finished my bachelor’s degree in Economics and Management, I chose this Master in order to consolidate and implement my knowledge, both theoretical and practical. The preparation of the lecturers and the diverse experiences of the professionals taking part in the classes provide a range of skills that are very useful for the world of work. The course is then full of challenges and incentives that help you grow not only professionally but also on a personal level: the many group works that are carried out during the class period allow you to constantly compare yourself with your colleagues and create bonds even outside the classroom. The Master's program thus represents an all-around experience. "

Francesca Atti

Corporate Controller, Coesia
Master in Finance, Control and Sustainability (A.Y. 2020/2021)

"Numbers are the ultimate expression of synthesis through which it is possible to represent different business realities, in the multitude of processes and dynamics that constitute and distinguish them. Thanks to the Master, I acquired the cognitive and technical tools to translate them into strategic opportunities. I have also deepened, through core courses and business cases, the issues related to Sustainability and related SDGs, which represent the driver for the evolution of today's companies into those of tomorrow. It was a great value-added experience both academically and humanly."

Chiara Chiessi

Controller Specialist, Gruppo Montenegro
Master in Finance, Control and Sustainability (A.Y. 2020/2021)

"The Master's degree was a great challenge for me. After graduating in midwifery, I practiced the profession for 5 years in London. Surprising everyone and even a little bit myself, I decided to change my life to follow what I like most...numbers! Completing the Master's degree was far from easy, but the strong motivation, the helpfulness of the professors and the great support of my classmates helped me build and consolidate my knowledge as well as deal with the difficult moments. I am very proud to say that I achieved my professional goal."

Annalisa Panunzi

Senior Auditor, KPMG
Master in Finance, Control and Sustainability (A.Y. 2020/2021)

"I chose the Master course in Finance, Controlling and Sustainability with the goal of consolidating my knowledge and apply it in the world of work. At the end of the course, I realized that I had achieved much more: the ability to work in a team, the opportunity to deal with professionals, the ability to manage my own time and stress, and individual growth. I am currently working as an auditor in KPMG"

Lorenzo Bruno

Senior Associate - Finance Transformation, PwC
Master in Finance, Control and Sustainability (A.Y. 2019/2020)

"Eager to get a professional specialization in Management Control and Corporate Finance, I decided to undertake this Master. In addition to providing me with all the technical skills I was looking for, this path allowed me to grow as a person, meeting great professionals and facing continuous challenges. The stimulating environment and the colleagues contributed to making the experience unique and highly educational. "

Silvia Brighi

Senior Auditor, Deloitte Italia
Master in Finance, Control and Sustainability (A.Y. 2018/2019)

"I started this Master with the idea of specializing in auditing but above all with the desire to follow a path that was not just a world “of books" but also of direct comparisons with the job market, a word made of team projects, professors who were also true professionals. The Master has given me solid foundations for my profession, it has taught me to have a sense of initiative and a practical approach to the problems of the labour market. It is a path that, if followed with motivation, gives many opportunities to those who know how to seize them."

Davide Di Claudio

Manager, SCS Consulting
Master in Finance, Control and Sustainability (A.Y. 2018/2019)

"The Master was the best choice to prepare for the job market, and more: it is a path full of strong emotions, full of challenges, but that gives great satisfaction. It is a highly educational experience, which has helped me to improve the skills needed to enter the world of consulting. It is not just an investment for your future, it is above all a great school of life"


The goal of the Career Service is also to allow students to connect with national and international companies. Over the years, Bologna Business School has managed to establish a wide-ranging network and a sound partnership with leading companies in Italy, thanks to a personalized approach, based on each company’s needs. The collaboration features the following activities:

  • Sending CV Books
  • Sharing internship opportunities
  • Company presentations
  • Career days
  • Project works
  • In-class activities with case studies presented by Managers and/or HR professionals

Moreover, companies support the Master in Finance, Control and Auditing with scholarships, professional opportunities, career fairs and company presentations.

The companies that worked with us in 2022/2023 are:



The tuition fees for the Master is 11,200 euros (VAT free) to be paid in three installments:

  • First installment: 1.500 euros
  • Second installment: 6.000 euros
  • Third installment: 3.700 euros

The fee includes participation in the Master, all the study material available through the online platform, and access to the services and facilities of Alma Bologna Business School such as: personal account for the Alma wi-fi, use of the PC in the Computer Lab, access to the study areas, access to the internal gym, special rates for the School restaurant.
Furthermore, the fee gives participants the right to take advantage of the supporting activities of the School, such as the language courses and the master lectures by invitation.
Free parking is also available within the BBS Campus.

Additionally, with the Student Card of the University of Bologna, students have access to all of the university facilities, including over 100 libraries, digital resources and study halls (including databases and online subscriptions); ); the three city center canteens and all university student related discount offers. More information are available on the site of the University of Bologna:


For more information on honor loan, contact us by email:


At Bologna Business School we understand the importance of financial aid in supporting our students to achieve their educational goals. We are aware that an advanced, high quality training path can be a significant commitment, at the same time we also truly believe that investing in one’s future always pays back.

Bologna Business School is pleased to offer partial scholarships which are merit-based and will be awarded to the top-ranked candidates in the selection process. The students who come out on top in the selections will be students who not only come from strong academic or practical backgrounds but also those who display the strongest motivation to take part in this program. Winners you will be informed at the moment of admission.




Applying is open to anyone holding an undergraduate degree of the old and new system. The degree must be obtained on or before the enrollment deadline of the Master.
For auditors, an undergraduate degree is not necessary.
The admission to the Master is subject to the positive evaluation of the selection test in line with the number of places available. The selection process consists of one Aptitude Test prerequisites to be admitted to the motivational interview. 


This Master’s is open to all applicants with a bachelor’s degree obtained before the enrolment deadline of each round. Application steps:

1. Register on “Students Online” by connecting to the site
2. Select “First Level Master”.
3. Pay the participation fee for the selection (60 euro for each Master)
4. Upload the required documents online:

  • Curriculum Vitae
  • Motivational letter
  • Letters of reference  (optional)
  • Photograph of recognition
  • Front and back copy of a valid ID or passport
  • TOEFL, IELTS or CAMBRIDGE (optional)
  • If available, a GMAT/GRE certificate with a score above 550 (GMAT) or equivalent (GRE). Applicants uploading this certificate are exempted from the written aptitude test as part of the admission process.
  • For degrees obtained in Italy: Self-certification of Bachelor’s degree with details of exams taken and relative grades
  • For degrees obtained abroad: Dichiarazione di Valore (to be requested at the Italian Embassy in the country where the degree was obtained) or Diploma Supplement (to be requested at the university where the degree was obtained). In the event that the candidate is unable to obtain the Dichiarazione di Valore or Diploma Supplement at the time of enrollment, he/she may temporarily replace it with a Conditional Enrollment Form, which will be sent after enrollment by

For further guidance, students who obtained a bachelor’s degree abroad are encouraged to check the page below:

For further information concerning the selection process and the related documents, we invite you to consult the Master details and download the documents that will be available shortly in this section.

For further information concerning the selection process and the related documents, we invite you to consult the Master details and download the documents available in this section:






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