Accounting and Finance with a Year in Industry BSc (Hons)

The analysis of data is a fundamental activity in all aspects of accountancy. The modern data driven world has seen the importance of data in organisations increase exponentially. It is therefore essential for accountants to understand both the key concepts behind the origin and use of data as well as be able to practically analyse data to produce meaningful and value adding information.

This module will introduce and demonstrate the importance of data in modern businesses, discussing the key role accountants play in both the analysis of data and the dissemination of information across an organisation.

The types and use of data will be linked back to other fundamental modules on this course to both demonstrate and develop your skills in some of the core practical uses of data in both financial accounting and management accounting.

The aim of this module is to introduce the core principles of economics (both micro and macro), to develop economic perspectives relevant to accounting and finance students and demonstrate how modern economics can influence the problems that management of businesses (both national and international) face on a day-to-day basis.

This module introduces students to fundamental concepts in finance. The course aims to provide a firm foundation for the students to build on later on in the second and third years of their programmes, by covering basic logical and rational analytical tools that underpin financial decisions. The course covers topics such as the structure of firms and time value of money. Building on these notions, we then discuss the valuation of simple securities such as bonds and equities. The course also introduces students to project appraisal techniques.

ACFI101 aims to develop a sound understanding of the fundamental principles and techniques of financial accounting. The context and purpose of financial statements is introduced, after which students are introduced to the techniques of recording financial transactions, adjusting financial records and preparing basic financial statements. Successful students will possess a sound base of knowledge for progression towards studying financial reporting in greater depth in the second and final years: the preparation of complex financial statements in conformity with International Financial Reporting Standards (IFRS), both for single entities and groups of companies, and for entities undertaking a wide range of accounting transactions. This module is delivered by means of lectures and tutorials, supported by online self-study question material.

The aim of this module is to introduce students to the nature and purpose of management accounting and to establish a solid foundation in its fundamental techniques. The module will explore and apply a range of basic techniques to produce information that aids management decision making. The techniques covered include cost volume profit analysis, budgeting and investment appraisal. Throughout the module the techniques studied will be applied to contemporary issues in the commercial world.

The module provides students with an understanding of the key skills required of the professional accountant in the current business environment, and the opportunity to acquire, develop and apply those skills.

This module introduces students to the graduate recruitment process by providing them with the skills required to secure a work placement or summer internship. It also provides the opportunity to acquire, develop and apply these skills.   

The module aims to provide an introduction to quantitative methods that will assist students in establishing basic quantitative and statistical skills for the study of accounting and finance.

This module will enable students to appreciate the role of statistical and mathematical methods in a business environment. It will also introduce students to different data types and approaches required for analysis. Upon successful completion of the module students will be able to confidently apply mathematical skills throughout their degree.

This module aims to increase students’ knowledge of financial accounting theory and its relevance to accounting practice. The module examines market for accounting information; processes and effects of regulating financial reporting; the incentives which drive managers’ choices of alternative accounting policies; unregulated financial reporting with specific focus on environmental, social and governance (ESG) reporting, capital markets’ response to accounting information; the critical perspectives of accounting and also considers a number of other important issues in financial reporting. Upon successful completion of this module, students should develop a good understanding of the role of financial accounting theory and its importance for accounting practice and reporting.

This module introduces the concept of assurance and goes onto cover the statutory audit in the UK and the regulatory framework in which it operates. It covers key elements of International Standards on Auditing with respect to planning, control, evidence and reporting. Students develop an understanding of the nature and purpose of the assurance process as well as the fundamental principles of ethics in the context of audit and assurance.

This module provides students with a foundation understanding of legal institutions of English law, as well as a general, non-specialist introduction to areas of English law that is pertinent and relevant to accounting and finance.

The module aims to introduce students to the modern theory of finance and financial management. Theoretical concepts like the net present value, decision making under uncertainty, portfolio selection and the capital asset pricing model are introduced. These concepts serve as prerequisites for investment and financing decisions which are exemplified by an analysis of valuation of firms, capital structure decisions and dividend policy. More specifically, the topics covered are the value and capital budgeting, portfolio theory, models of security valuation, efficient markets, long-term financing, company dividend decisions, capital structure, and interactions of investment and financing decisions. In all cases contemporary examples will be used to make theory come to life.

This module develops students’ knowledge from first year study by introducing more complex accounting standards which enables them to prepare complete single entity financial statements or extracts thereof. The module introduces accounting concepts and ethical issues and begins to develop students critical thinking in this area.

ACFI203 primarily deals with the tools and techniques that management accountants use to generate the financial information needed by the managers of an organisation. The module begins by developing the product costing techniques introduced in the first year, covering activity-based and life-cycle approaches. Relevant quantitative techniques (such as learning curve models) are then considered. A range of decision-making techniques are covered (such as pricing decisions, making best use of scarce resources, and dealing with risk and uncertainty). Further uses of standard costing and variance analysis for controlling business performance are examined. Measuring divisional performance and the setting of transfer prices in divisionalised businesses are discussed, as well as performance analysis in the public and private sectors. Many of these themes will be further built upon in the final year in looking at performance management systems, measurement and control. Successful students will therefore possess a thorough grounding in the methods used by management accountants, and will be well-prepared for final-year study in the subject (ACFI303 Advanced Management Accounting). This module is delivered by means of lectures and question-practice workshops, and the assessment is conducted via a three-hour final exam.

The module covers the general UK taxation system and introduces students to the relevant taxes in the UK tax system. The module explains the general objectives of tax, the influences upon the UK system of tax and the different types of tax in the UK It discusses the ethical issues arising in the course of performing tax work and identifies the obligations the UK system of tax imposes on taxpayers and the implications for taxpayers of non-compliance. The module covers capital gains tax payable by individuals and trustees, income tax owed by or owed to individuals and trustees, inheritance tax due on lifetime transfers and transfers on death by individuals, personal representatives and trustees, national insurance payable by individuals, businesses and companies, corporation tax liabilities of companies, VAT owed by, or owed, to businesses and the amount of stamp taxes due in straightforward transactions.

This module deals with business ethics and the social responsibility of business organizations. It is designed to inform decision-making about ethical challenges arising in business. It will help students identify and manage difficult ethical dilemmas they are likely to encounter in their future career. It is not intended to convert sinners into saints, to preach ethical truths, or to convey the wisdom of moral philosophers. However, it will develop students’ analytical skills in ethical reasoning and provide them with a substantive framework to deal with ethical challenges. The module is taught by lecture (2 x 1 hour lectures per week) and workshops (2 during the semester, 2 hours each). Assessment is via case study analysis (40%) and an open book examination (60%). There will also be formative tests during the term. This module is identical to PHIL272, except that it runs in Semester 1.

The module introduces students to entrepreneurship, introducing and challenging key assumptions. The intellectual curriculum is accompanied by practical exercises aimed at developing entrepreneurial ideas with support from business mentors.

This module gives an overview of some very basic economic principles as it applies to the firm and its environment. It equips the student with the knowledge and skills necessary to understand and evaluate internal and external factors that influence the strategic decisions made by the firms. This includes the analysis of the nature and behaviour of firms in international markets. It is designed for non-economists such as Business Studies students . Explanations are sometimes based on very basic diagrams and students are expected to have GCSE level maths.

Econometrics for Finance 1 is an important module that equips students with the knowledge of quantitative techniques and the practical expertise needed to solve finance problems. The course involves the analysis of real-world financial datasets to solve finance problems pertinent to a wide range of financial markets. This course is very relevant to students with a keen interest in the quantitative modelling of financial markets or those interested in pursuing an MSc degree in finance or related areas.
The lectures equip students with the theoretical knowledge necessary to formulate, estimate, and correctly interpret multivariate econometric models. In particular, the students will learn about multiple regression models, multiple hypotheses tests, diagnostic checks, and parameter stability. The seminar sessions, which take place in the computer lab, will provide students with the opportunity to apply their knowledge by using Eviews, a statistical software, to analyse real-world data from leading financial databases and solve finance problems. Overall, the students will develop a range of skills, including communication skills, digital fluency, analytical skills, and problem-solving skills. The assessment is conducted via a mid-term multiple choice test (30%), a written coursework (60%), and an individual pre-recorded video presentation (10%) at the end of the course.

The placement experience is not just about gaining work experience, it is also about developing as a more nuanced and sophisticated practitioner. Throughout the placement you will examine current business theory through the lens that is your personal experience and develop real insight into how theory and practice fit together. The less sophisticated try and force theory to work where it won’t or simply abandon it altogether. This module will help you develop an understanding of the role of theory in your personal practice enabling you to target your effort more effectively.

This module introduces a rationale for auditing using both normative and positive theoretical models. It examines the regulatory framework within which the statutory audit in the UK operates, covers key elements of Auditing Standards and evaluates elements of current audit practices. Assessment is via 100% examination.

Strategic Management Accounting (SMA) is defined by The Chartered Institute of Management Accountants as ‘the provision and analysis of management accounting data about a business and its competitors, for use in developing and monitoring business strategy.’ At the heart of SMA is the drive to improve an organisation’s decision-making processes in pursuit of its strategic objectives.
This module will give you real- world insight into current areas of SMA practice and the challenges that face senior management accounts in organisations today. Specifically, the module will focus on areas such as: the strategic planning process, performance management, transfer pricing, sustainability, investment appraisal, activity-based management and total quality management.

The module provides students with a fundamental understanding of the core theoretical and empirical aspects involved in corporate finance (such as bond/stock valuation, capital structure, dividend policy and leasing contracts). The module will be delivered both in lectures and tutorials.

The module aims to provide students with an understanding of how businesses develop and implement strategy

This module is the final module of a stream of 4 that cover financial reporting. This module therefore develops students understanding of financial reporting to a very high level by building upon the knowledge and skills gained in earlier financial reporting modules by covering more detailed and complex accounting standards. It will also develop an understanding of financial statement analysis using financial reporting and business strategy skills developed in this and earlier modules. Ethical and professional issues in financial reporting will also be considered.

This module is designed to build upon the knowledge and skills gained in earlier financial reporting modules by covering the preparation of group financial statements including associates and joint ventures. It will also develop an understanding of group accounting principles and issues arising from group accounting including fair values, intangibles and impairment. The module also addresses other key accounting standards including those relating to leases, borrowing costs and related parties. The module should enable students to prepare complete single entity and consolidated financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS).Students will also be required to explain accounting and reporting concepts and ethical issues, and the application of IFRS to specified single entity or group scenarios.

In recent years, interest in entrepreneurship has increased considerably in academic and policy circles alike. Since the 1970s, it has been widely recognised that entrepreneurship contributes to economic growth and that the majority of new jobs are generated by small firms. Moreover, for some years now, there has been a wide range of publicly funded business support initiatives aimed at enhancing entrepreneurship and enterprise creation. Since the onset of the recession in 2008, the challenge is to create new business opportunities, in the UK, Europe, and beyond which are able to survive and thrive in the emerging business ecosystem. In this context, the role of education, especially in universities, in ‘nurturing’ entrepreneurs through providing the necessary skills and training for students, is increasingly viewed as an important element in the development of new graduate start-ups that have the potential to become high-growth firms. In this module, building upon material studied earlier in the programme, focus will be directed towards questions such as how and why ‘entrepreneurship and enterprise’ have become such a popular phrase for individuals, organisations, communities and governments alike. The module will seek to explore this by examining the various historical, economic, political and social assumptions that surround the nature of entrepreneurship and enterprise, drawing focus towards advancing our understanding and appreciation of the human story behind entrepreneurial and enterprising activity. and It will also seek to advance students’ awareness of entrepreneurial practice by considering in greater detail the many individual stories (from emerging, growing and mature business start-ups) in order to appreciate the factors and challenges involved in “the practice of being entrepreneurial / entrepreneur”. In the module students will also have the opportunity to evaluate their personal orientations to entrepreneurship, building upon material studied earlier in the programme, by reflexively shaping their appreciation of what it is like being self-employed, working in the family business, being an owner-manager, being an entrepreneur/intrapreneur.

The aim of this course is to enable preparation taxation computations under current UK tax law. The emphasis of the course is practical, however consideration will be given to a number of tax planning issues and conceptual aspects where appropriate. Taxes covered will include income tax, national insurance, corporation tax, capital gains tax and VAT. Students will learn how to prepare computations to a sufficient standard for submission to HM Revenue and Customs and at the same time will learn about the basic principles, objectives and tax concepts.

Behavioural finance attempts to explain several widely cited market phenomena (including e.g. excess volatility, overreaction, bubbles and crises) by drawing on concepts and principles from psychology and their applications in investors’ behaviour. The module provides a thorough introduction to this area, with theoretical analyses being enhanced through the use of short videos, experiments and quantitative finance both during lectures and seminars.

The course objective is to present the current capital markets with a blend of the theoretical with the practical. Our examination will extend beyond the traditional financial products, equity and debt instruments, to recent innovations. Until the summer of 2007, capital markets had experienced spectacular growth via a proliferation of new products. In keeping with classic economic theory, the investment rewards of products such as securitization were inevitably accompanied by risks as recent events brought to light. New products like asset-backed securities and Electronic Traded Funds will be reviewed and identified by investor profile and investment rationale.

The module covers the history and development of corporate governance, and the key principles and systems that underpin corporate governance today. It also provides the opportunity to assess the practical application of corporate governance systems across major international organisations based on UK regulation.

The purpose of this module is to provide students with an in-depth understanding of the theory and practice of management in a critical context. The module draws on a broad range of critical social science theory that questions received wisdom on management and the view that management is a purely ‘neutral’ technical-rational practice. The module challenges this view by looking at issues of performativity, and the ideology and politics of work organization and management practice from a range of critical perspectives. It traces the history and development of management as power, control and domination in organizations from its origins through industrialization to its current post-industrial/ postmodern setting.

In the last three decades, derivatives have become increasingly important in the world of …finance. Futures and options are now traded actively on many exchanges and OTC around the world. Yet most of our undergraduate finance courses, which mostly study underlying assets and institutions, simply do not have enough time for an in-depth discussion of derivatives. This class presents both a practical and theoretical approach to derivatives markets. The course starts with basic definitions and properties of put and call options, and forward and futures contracts. Payoff diagrams are used to illustrate these basic notions. Determinants of derivatives values are discussed. The basic no-arbitrage pricing relationships between different types of derivatives are established.

The module on Financial Risk Management covers both the internal aspects of financial institutions and the external factors that affect the investment arena and modern financial markets in general. The degree provides an in-depth understanding of the theoretical foundations that underpin modern investment and risk management techniques. The course has a strong practical dimension so you can acquire a sound knowledge of how to apply these techniques to equity and credit markets as well as investment strategies in general.

According to the advisory firm Deloitte, their football finance unit generates more media enquiries than all other industry areas combined. With the increasing globalisation of the sport, and the impact of commercial and media deals having a large impact on clubs both on and off the field of play, a knowledge of finance for anyone with an interest in the sport is beneficial. This module aims to:
(1) Utilise financial statements produced by football clubs and organisations.
(2) Review and apply financial reporting standards that have a significant impact on the financial statements, especially in relation to key assets such as player registrations.
(3) Analyse financial results using standard and industry specific ratios and KPI’s alongside available accessible data.
(4) Discuss and apply methods of valuing clubs using historic financial data and different valuation models.
(5) Use financial modelling techniques and spreadsheet analysis to prepare bespoke data and analysis of football clubs.
(6) Identify potential warning signs of financial distress in football clubs.
(7) Discuss topical financial issues arising in the industry and their potential consequences for stakeholders.
(8) Analyse the effectiveness or otherwise of cost control methods in the industry

The module utilises Excel to solve, simulate and model a range of financial problems. It will provide students with the skills to practically apply a range of advanced financial theories and concepts.

The aim of this module is to develop and enhance students’ critical understanding of the key issues surrounding the contemporary football sector. Students will develop a critical understanding of how economics, finance, marketing and other business and management disciplines can be used to analyse features of the football business sector. Furthermore, various concepts and theories from the aforementioned disciplines will be used to analyse critically decision-making within the sector. Where appropriate alternative outcomes will be considered that might improve efficiency and effectiveness within the sector.