Accounting & Finance (combined) Programme Specification from the Faculty of Arts and Humanities

Transcription

1 Accounting & Finance (combined) Programme Specification from the Faculty of Arts and Humanities Version: 2016/7.1.2 Last updated: September 2016

2 Programme Specification B1 Key Facts 1. Study mode(s) and period of registration 2. Frequency of Intake Annually in September Full-time or part-time Minimum 3 years maximum 6 years (full-time) Minimum 4 years maximum 10 years (part-time) 3. Awarding body Liverpool Hope University 4. Teaching location(s) Hope Park 5. Final award(s), including any interim awards 6. Relationship with Subject Benchmark Statement BAC Accounting & Finance and XXX (where XXX is a second Major, creating a Combined Honours degree). Diploma HE (240 credits, achieved by successfully completing two full years of study); Certificate HE (120 credits, achieved by successfully completing one full year of study) 1 The benchmark for QAA Accounting (the national expectations of what a good degree in this subject should contain) has been fully used in the development of this provision see especially the skills section below. 7. FHEQ level(s) 4, 5 6 (first, second and third year at University) 8. Date of initial validation July 2009; in present form, July Date of first intake September 2009; in present form, September Date of last Review (if applicable) N/A 11. Additional Costs to Students ( estimate) Students will need to consider the cost of the books that will be suggested as key reading/reference books. All will be available in the library, but in limited numbers. It might be advisable to set aside perhaps 100 for purchases, but costs vary enormously depending on the source of the purchase. Typically a single book could vary from 50 to 60 new in hardback to 0.89 second-hand in paperback. Some are available free as e-books. 1 Note that interim awards are only given if for some reason students end their studies after one or two years.

3 12. Professional Statutory or Regulatory Body (PSRB)(s) (if applicable) with date/outcome of last PSRB approval N/A Aims and Learning Outcomes PROGRAMME AIMS: The Major aims to provide students with: 1. an education drawing on a balance of Accounting and Finance discipline courses which allow students to use their talents to the full in achieving their personal and career aspirations 2. a Programme of study which has an underlying vocational focus and is designed for students intending to enter the business sector to understand the finance and accounting of the business environment and how organisations operate in increasingly uncertain situations 3. an academic base which will enable students to meet the challenges of new ideas and issues relating to accounting and finance and their application in the workplace 4. the necessary practical and intellectual skills, such as analysis, problem-solving and reasoning, to enable them independently to achieve an understanding of accounting problems, deal with complexity, explore alternative solutions, demonstrate critical evaluation and integrate theory and practice 5. a stimulating learning environment which fosters a critical, reflective and challenging approach to the study of accounting and finance 6. an increased capacity for independent inquiry, written and oral communication skills, use of IT, maths and statistics relating to finance applications, ability to undertake research skills such as handling both quantitative and qualitative information, and ability to work co-operatively with their peers 7. the opportunity to develop an awareness and understanding of ethical issues LEARNING OUTCOMES for this provision By the end of this year all students should be able to demonstrate: Year One (Level C) C.1. Knowledge of the concepts, principles and methods used for preparation of basic financial statements consistent with the conceptual and regulatory framework for accounting while being aware of the role that accounting has in organizations and in society as a whole

4 Year Two (Level I) Year Three (Level H) C.2. Ability to apply quantitative techniques and appropriate statistical software in the collection and analysis of data, and the presentation of results through the preparation of appropriate reports C.3. Knowledge of key principles and theories of corporate finance and application of such principles in the analysis and evaluation of business problems I.1. Knowledge and critical understanding of the principles of costing and budgeting and the critical application of such principles in the derivation and analysis of costs and budgets I.2. Understanding of the IASB s International Financial Reporting Standards and the ability of critically apply them in the preparation and analysis of financial statements I.3. Ability to assess the purpose and methods of carrying out qualitative research and critically reflect upon it to enhance understanding of the subject and capacity to think independently H.1. In-depth and sustained understanding of concepts and rules in order to apply them analytically to preparing and presenting consolidated financial statements H.2. Critical understanding of the ethical issues and implications in accounting, and the ability to evaluate them H.3. Systematic understanding and application of in-depth knowledge to advanced finance aspects such as stock and bond valuation, working capital management, portfolio management and risk management H.4. Sophisticated conceptual understanding that enables the student to discuss and critically comment upon contemporary research and developments in the area of corporate finance H.5. Ability to manage their own learning, and to review, consolidate and apply their own knowledge to investigate a particular aspect of the accounting or finance discipline and write-up an extensive piece of research work which draws on prior research and theory in the area of finance and accounting Teaching pattern The normal pattern of teaching is that lectures, where all students are taught together, provide six hours of contact time in the first year, and five in subsequent years; seminars, in smaller groups (typically 15-20) provide four hours per week, and tutorials (smaller groups, typically no more then 10) two one-hour sessions in all years. In addition tutors are available every week at designated times for one-to-one discussions. The Accounting programme differs from this pattern in the provision of an additional hour of seminar time at level C, as indicated in the following diagram. Assessments

5 Assessment will consist of two final examinations in each year. In every year there are also one or more pieces of written work. These may include individual reports/analyses, group presentations supported by a report, in-class tests, and essays. Alongside both Core and Additional assessments in the final year is the Dissertation. Students are prepared through group and one to one supervision and are guided and supported in the completion of their 8-10,000 word dissertations. This is seen as a major element of the degree, as it provides students with an opportunity to integrate their learning and enables them to research in depth a focussed accounting and finance-related topic. The required foundations are laid progressively throughout the Programme, starting with knowledge of and skills in using quantitative research methods and methodologies (Level C) and qualitative research methods and methodologies at Level I. The review, analysis and critique of contemporary accounting and finance research in Levels I and H also foster the preparation for Dissertation. The development of research skills as an integral part of the curriculum across all levels ensures that students are not only fully aware of the research process, but also have the skills and knowledge required to produce good quality dissertations. The dedicated Level I Theme presents and allows the exploration of potential accounting and finance topics for further research. Research informed teaching is in play at all levels. Curriculum Diagram showing overall allocation of subjects and time The term Theme is used to refer to each of the two or three strands of provision which make up a 60-credit block. Lectures are attended by all students together. The size of seminars depends on student numbers, and the tutorials are conducted in small groups (ideally no more than about 10). The curriculum is designed to ensure that skills and knowledge build up across the years. By the third year graduates will have a systematic comprehensive knowledge and the ability to critically evaluate and apply concepts to real cases and scenarios and solve problem whilst having good communication, team-work and time management skills. Skills, knowledge and a focus an ethical aspects (which is considered in many of the themes, not least in Explorations of contemporary research and Advanced Accounting and Accountability ) will make graduates both employable and competitive, but also aware of ethical issues which characterize the accounting and finance areas. Theme 1 Principles in Financial Accounting Level C Theme 2 - Principles in Corporate Finance Theme 3 - Quantitative methods Each week contact time is six hours per week for lectures, with all students together; five hours per week for seminars, in smaller groups if numbers require, and two hours for tutorials in

6 small groups. Theme 4 - Intermediate Financial Accounting Level I Theme 5 - Management Accounting Theme 6 - Explorations in Contemporary Research Each week contact time is five hours per week for lectures, with all students together; four hours per week for seminars, in smaller groups if numbers require and two hours for tutorials in small groups. Theme 7 - Financial Management Level H Theme 8 - Advanced Accounting and Accountability Shared Dissertation Each week contact time is four hours per week for lectures, with all students together; four hours per week for seminars, in smaller groups if numbers require, and two hours for tutorials in small groups, or individual supervision of the Dissertation.

7 Outline of content delivered Level C Financial Mathematics and Statistics Quantitative methods Financial Accounting principles Double entry bookkeeping and accounting equation Principles of corporate finance Level I Cost management accounting Budgets and standard costing Financial statements according to the international financial reporting standards Accounting theories Research skills and academic debate about specific aspects (also involving ethical issues) in accounting and finance Level H Ethical issues relating to business Consolidated accounts Research skills Non-financial reporting Working capital management techniques Risk management techniques Business and asset valuation Corporate restructuring Dissertation B3 Further Information Development of Key Generic (transferable) and Subject-specific skills at each level. (NB These are fully aligned with the QAA Benchmark for Accounting) Subject-specific skills: On successful completion of the Major, the student will have gained both subject specific knowledge and skills and transferable skills. a) Subject-specific knowledge and skills

8 Knowledge of some of the contexts in which accounting can be seen as operating, in particular the legal, ethical, societal and economic environment, the business entity, the capital markets, and to a limited extent the public sector. Knowledge of the main current technical language and practices of accounting in a specified socio-economic domain. Knowledge of some of the alternative technical languages and practices of accounting. Skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business, financial analysis and projections. Knowledge of contemporary theories and empirical evidence concerning accounting in at least one of its contexts and the ability to critically evaluate such theories and evidence (such as in Intermediate Financial Accounting and Advanced Accounting and Accountability ). Specifically this provision will look at accounting and the firm, accounting and the financial markets, accounting and sustainability and, to a limited extent, accounting and the public sector. The programme fully embraces the research informed teaching approach, which is particularly strong in Explorations in contemporary research. Knowledge of theories and empirical evidence concerning financial management and risk management are provided in Principles of Finance and Financial Management Knowledge and understanding of the importance of ethical aspects involved in the accounting and finance disciple (across all the Major, but particularly in the Advanced Accounting and Accountability theme). b) Cognitive abilities and generic skills The capacity for the critical evaluation of arguments and evidence by solving scenario based exercises, evaluating cases of ethical issues involved in accounting and finance practice, by writing a research proposal and a dissertation or research project; The ability to analyse and draw reasoned conclusions concerning structured and, to a more limited extent, unstructured problems from a given set of data and from data which must be acquired by the student by students working out exercises during tutorials at all levels, either individually or in group, but also sitting the final exams, writing essays and the Dissertation or Research Project; The ability to locate, extract and analyse data from multiple sources, including the acknowledgement and referencing of sources by writing reports, essays, the research proposal and the Dissertation or Research Project; Capacities for autonomous and self-managed learning by working exercises out given in class at home and preparing individual or group homework assignments; Numeracy skills, including the ability to manipulate financial and other numerical data, to use formulae to perform calculations, and to appreciate statistical concepts at an

9 appropriate level. This occurs starting from level C when taking the Quantitative Methods class and it then develops in level I and H by working out exercises and conducting research); Skills in the use of communications and information technology in acquiring, analysing and communicating information. Students will be skilled in the use of spreadsheets, word processing software, presentation software and online databases by attending the Quantitative Finance theme, attending workshop on Microsoft Word and Microsoft PowerPoint and preparing the individual/group homework assignments; Communication skills including the ability to present quantitative and qualitative information, together with analysis, argument and commentary, in a form appropriate to the intended audience (this is achieved by producing reports, essays, presentations and Dissertation or Research Project); Have the ability to listen and interact with other groups taking account of their own and others moral position (this is achieved by presentations to the peers, group reports and using tutorials; Ability of making ethical judgments about published research by completion of the Explorations in Contemporary Research and understanding of the Department and the University commitment to issues of social justice. Entrance Requirements gives full details. No other special requirements are in place. Accreditation of Prior Learning In certain circumstances the University also permits credit-bearing (certificated) study that students have already carried out at Undergraduate level to be taken into account see ning/

10 Special Features of the Major This Major has been designed to meet the needs of potential students interested in accounting and financially based career options. It provides an education drawing on a balance of Accounting and Finance disciplines which allows students to develop their talents to the full to support their personal and career aspirations. The design takes into account the needs of accounting and financial organisations, to align graduate skills with employer needs. The importance of ethics in Accounting and Finance is a thread running all through the Major, and ethical aspects are embedded across the board. This culminates in the final year where there is a substantial section of the Accounting and Accountability theme devoted to ethical issues. Student will be encouraged to draw into this aspect of their studies all they have explored about ethical issues in the previous two years. The curriculum has been designed in liaison with internal and external stakeholders. Graduates are able to apply appropriate practices within a professional framework. This Major enables students to study in Accounting and Finance, which has an underlying vocational focus and is specifically tailored and engineered for students intending to enter the business sector. They will do so with a strong and deeply rooted understanding of Accounting and Finance within the business sector, and of how organisations operate in increasingly uncertain situations, and with a well-developed and much-deployed skill set (as discussed more fully above). The Accounting cluster is keen to keep on developing tools available to students to increase their employability. This can occur in multiple ways: relationships with professional bodies, job placement through the Employability Hub, whose unique feature is that it is embedded in the Business School rather than working at University level, the use of guest speakers across the three levels, job fairs, workshops and so on. Inclusive Curriculum Design Statement This award recognises that an inclusive curriculum is one where all students entitlement to access and participate in a course is anticipated, acknowledged and taken into account (Higher Education Academy, Inclusive curriculum design in higher education, 2011, p. 7). It seeks to reflect the following principles, as enunciated by the HEA: - Anticipatory: Adopting an anticipatory approach reduces the need for reactive and individualised responses that can arise when inclusive issues have not been considered at the design phase;

11 - Flexible: it is open, versatile and responsive to an evolving student population, and to changes in circumstances that may require adaptations to accommodate student availability; - Accountable: it encourages staff and students to be responsible for the progress they have made against equality objectives and actions agreed; - Collaborative: it builds on partnership between students, colleagues and other stakeholders including professional bodies, sector bodies, international partners and employers to enrich the curriculum content and relevance; This translates into this provision as follows: - Anticipatory: students are encouraged to think about maintaining a quality experience in the classroom as a way of widening the interests and aspirations of all students. In this regard the student voice is heard and acted upon through a number of mechanisms. These include: o Staff-Student Liaison Committee meetings; o Student feedback; o Student representation in the wider framework of Faculty and University Boards and Committees. - Flexibility: Members of the teaching team often with the support of colleagues in Student Development and Well Being as well as Student Administration - make every effort, within the framework of University regulations and processes, to meet with individual student needs responsively, creatively and fairly. This approach includes meeting with students in difficulty outside of office hours or, subject to due process, setting alternative assessment forms; - Accountability: The teaching team and students share a responsibility to uphold inclusivity and fairness for everyone. Through the structure of small teaching groups, in particular, potentially harmful or hurtful behaviour is intercepted and positive relations fostered; - Collaborative: To ensure enhanced opportunities for students, the teaching team fosters collaborative relations with a range of professional bodies. The above is a general statement which applies to all subjects in the University. There are two areas where the Accounting team would take particular care to ensure the fullest possible inclusion of students needing special provision. The first of these would be to work closely with students with any form of visual impairment to ensure that the effects of the close attention to texts, often in numeric form, were mitigated as far as possible. With suitable software and other aids it is anticipated that appropriate provision could be made for such students. The situation has not hitherto arisen. (The University has successfully supported totally blind students in heavily text-based areas such as Theology.)

12 The second would be to consider all possible steps to reduce the impact of the heavy weighting of examinations, especially for students being allowed additional time for exams. Information about the systematic support available for students at the University can be seen at: ENTRANCE REQUIREMENTS gives full details. There are no special requirements. In certain circumstances the University also permits study that students have already carried out at University level to be taken into account see / This specification last updated: September 2016 Updated by: