Programme Specification – 2015/16
1. Awarding Body University of Surrey
2. Teaching Institution (if different)
3. Final Award MSc
4. Programme title/route/pathway Accounting and Finance 5. Subsidiary award(s) and title(s) PG Dip, PG Cert
6. FHEQ Level FHEQ Levels 7
7. Credits and ECTS credits 180 UK credits, 90 ETCS credits 8. Name of Professional, Statutory or
Regulatory Body (PSRB)
N/A 9. Date of last accreditation (if applicable) N/A
10. Mode of study Full-time, Part-time
11. Language of study English
12. UCAS Code N/A
13. QAA Subject Benchmark Statement (if applicable)
Business and Management 14. Other internal and / or external
reference points
N/A
15. Faculty / Department Faculty of Arts and Social Sciences, Surrey Business School
16. Programme Leader Professor Dimitris Petmezas 17. Date of Production / Revision of the
specification
June 2014 18. Educational aims of the Programme
The programmes aim to provide a high quality education that is intellectually rigorous and up-to-date, as well as relevant to the needs of future accounting and finance professionals in the financial sector or any other large corporations and the academia. They provide theoretical framework and practical skills that accounting and finance professionals working in banks and financial corporations need in order to cope with an increasingly complex and global financial environment. They also provide a valuable foundation for those considering continuing their academic studies in the field of applied finance and accounting leading to a PhD level. The programmes provide the students with the basis for developing their own approach to learning and personal development. The compulsory modules aim to provide not only a rigorous treatment of the relevant theory, but also the quantitative techniques necessary to understand the literature and undertake empirical investigations in the areas of accounting and finance. The optional modules aim to offer students a broader perspective on the subject matter and allow them to specialise in areas that are of particular interest to them.
19. Programme learning outcomes – the programme provides opportunities for students to develop and demonstrate knowledge and understanding, skills, qualities and other attributes in the following areas:
Knowledge and Understanding
• A systematic, in-depth understanding of the development, issues and influences relevant to area of accounting and finance.
• A high level theoretical and applied knowledge of finance and accounting practice.
• An understanding of the research process.
Teaching and learning strategies
The teaching and learning strategy aims in the most effective and efficient ways to provide a framework of knowledge within which students can take
responsibility for their own learning, to introduce students to the contemporary issues, latest thinking and research, to provide opportunities for students to consider and evaluate the issues and to explore them further with their peers and teaching staff.
To achieve these aims, the teaching and learning will
include:
• Large group sessions that are designed to provide overall framework of the existing
knowledge and sufficient information for students to follow up details independently;
• Large group sessions that will introduce students to new issues, controversial topics, recent
research etc.
• Small group sessions that will provide opportunity for students to discuss and demonstrate their learning with their peers and lecturers in details
• Individual supervision, particularly in the dissertation, in which students will be able to explain, discuss and refine their ideas with their supervisor.
Assessment
As a guide it is expected that there will be two different forms of assessment for each module, with the weighting between assessments based on the intended learning outcomes and justified in the module document. The implication is that a sensible balance across the programme should be achieved between:
• Examination (open or close book, short answer or multiple choices) and assignment (including essays, case studies, practical exercises, problem solving etc.);
• Continuous and terminal assessment;
• Formative and summative assignment (including tutorial discussion, practising past examination questions during the class and feeding back within their peers and lecturers, additional online discussion questions via surreylearn);
• Individual and group assessment;
• Individually supervised dissertation.
Skills and other attributes - Intellectual / cognitive skills
• Demonstrate high level learning and problem solving abilities in the range of modules studied.
• Conduct accounting and finance-oriented research using appropriate research design and methodology (not required for PG Certificate), to collect and analyse data, to interpret findings and communicate results efficiently.
Teaching and learning strategies
The strategy for each individual module is designed to contain a mix of teaching and learning methods to provide a rich and varied learning environment.
Sessions may take the form of traditional lectures, seminars, tutorials, workshops or they may be delivered through paper or electronic and online resource.
Assessment See Above.
Skills and other attributes - Professional practical skills
• An ability to independently evaluate critical approaches and techniques relevant to financial sector;
• An ability to independently evaluate business/financial reports and relevant information with justification and relate them to existing knowledge structures and
methodologies
Teaching and learning strategies
See Above.
Assessment See Above.
Skills and other attributes - Key / transferable skills
An ability of demonstrating competence in a range of skills that are relevant to the needs of future financial professionals, irrespective of their sector of operation, especially in financial sector;
critical thinking, analysis and synthesis (not required for PG Certificate); using computer software for financial calculation (not required for PG Certificate); reasoning; problem solving;
independent research; (not required for PG Certificate); presentation; report writing (not required for PG Certificate).
Teaching and Learning strategies
See Above.
Assessment See Above.
20. Programme structure – including the route / pathway / field requirements, levels modules, credits, awards and further information on the mode of study.
The programme offers a balanced portfolio consisting finance and accounting. The programme has also some company and investment-oriented elements into the modules of International Corporate Governance, Investment analysis and Risk Management.
Semester 1
Three compulsory modules and one core module will be delivered in Semester 1, including one accounting module, one finance module, one quantitative module and research methods, as follows.
• Principles of Accounting is an existing module for the MSc programme in International Financial Management. This module introduces all the essential accounting knowledge and skills from international perspectives required at Master’s level.
• Foundations of Finance is an existing module for the MSc programme in International Financial Management. This module introduces essential background knowledge of finance from international perspectives.
• Research Methods is a well established Master’s core module in the School which introduces essential skills for the dissertation.
• Quantitative Methods is a new module developed by Surrey Business School. The module is highly numerate and includes all the necessary quantitative skills required for finance and accounting studies at Master’s level. It is intended to compliment the general Research Methods module by providing a grounding in the specific higher level quantitative techniques needed to interrogate and structure accounting and financial data rather than the more general analytic and design strategies covered in Research Methods.
Semester 2
Two compulsory modules (one finance module and one accounting module) and a range of five different optional modules out of which students will have to select two modules. The modules in this semester cover a wide range of applied finance and accounting, having also the element of international context.
Compulsory modules:
• Corporate Finance is an existing module for the MSc programme in International Financial Management. It builds on the Foundations of Finance module (delivered in the first semester) and further explores how corporate financing relates to the financial goals of corporations and its implication for corporate bankruptcy and takeovers.
• International Financial Reporting is an existing module for the MSc programme in International Financial Management. It builds on the Principles of Accounting module (delivered in the first semester) and introduces financial reporting standards and financial report analysis for firm’s international operations.
Optional Modules:
• International Corporate Governance is an existing module for the MSc programme in International Financial Management. It takes an international approach to corporate governance, contextualising its development and providing a stimulating range of empirical practitioner and academic research, and topical mini case studies. It also introduces institutional and legal systems from both government and firm’s viewpoints that influence the effectiveness of corporate governance
• Derivative Securities is a new module targeted at students interested in understanding the purpose and use of derivative securities (i.e. financial engineering tools). These include specifically the forwards, futures, swaps and options.
• Investment Analysis is a new module which studies the various stages of the investment management process from the award of an investment sponsor’s mandate through investment manager selection to the portfolio and performance outcome of that selection. This module is particularly useful for students considering a career in finance; investment management, investment banking, investment consultancy or asset management but is also useful for those involved in other areas of the financial sector such as insurance and pensions; the main users of investment management services.
• International Finance is an existing module for the MSc programme in International Financial Management. It introduces the essential contemporary issues in international finance area and the theory and application of financial derivatives.
• Risk Management is a new module focuses on the types of risk that arise for a business including:
market risk, credit risk and interest risk. This module considers financial risk management strategies;
how risk is evaluated; the methods that are available to hedge against risk and the strategies that are employed to mitigate risk. This is complemented by consideration of operational risk and key risk management issues for financial institutions including regulatory issues such as Basel II.
• Finally, students should also undertake a Dissertation after Semester 2, which accounts for 60 credits. The dissertation is the final element of the programme, providing an opportunity for a sustained period of research. It allows students to concentrate on topics that are of particular interest to them and it draws upon a range of different aspects of the taught programme particularly the Research Methods module. It also gives an opportunity for students to work independently with individual supervision.
Programme adjustments (if applicable) N/A
Programme pathways and variants
The programme is offered in full-time and part-time mode.
- Credit Level 7 potential awards: Master of Science
Postgraduate Diploma Postgraduate Certificate
In the case of joint honours (equally weighted subjects) or a major/minor combination programme, please provide a rationale for the particular subject combination and details on how the combination will operate.
- Who is the lead faculty, department or school?
N/A
FHEQ Level 7: Potential awards – MSc, PG Dip, PG Cert Module
code
Module title Core
/compulsory /optional
Credit volume
Semester (1 / 2)
Award requirements MANM198 Principles of
Accounting
Compulsory 15 1 On completion of
this level students will have achieved 180 credits at FHEQ level 7 and will be awarded an MSc (principal award) Subsidiary award PG Cert – 60 credits at FHEQ level 7must be achieved before a student may exit this
programme with a PG Cert PG Dip – 120 credits at FHEQ level 7 must be achieved before a student may exit this
programme with a PG Dip
The pass mark for all modules is 50%
MANM097 Foundations of Finance
Compulsory 15 1
MANM280 Quantitative Methods Compulsory 15 1 MANM169 Research Methods Compulsory 15 1 MANM199 Corporate Finance Compulsory 15 2 MANM201 International Financial
Reporting
Compulsory 15 2
MANM202 International Corporate Governance
Optional 15 2
MANM137 Derivative Securities Optional 15 2 MANM282 Investment Analysis Optional 15 2
MANM279 Risk Management Optional 15 2
MANM200 International Finance Optional 15 2 MANM061 Dissertation Compulsory 60
How many optional modules must a student choose in order to achieve the necessary amount of credits to achieve this level?
2 out of 5.
21. Opportunities for placements / work-related learning / collaborative activity – please indicate if any of the following apply to your programme
Data supplied by an external source for student analysis which contributes to an assessment N/A Guest / external / associate lecturer (please detail the extent of their contribution, i.e. do they N/A
mark?)
Professional Training Year (PTY) N/A
Placement, study or work placement outside of the PTY(please indicate if this is one day, one month, six months, a year etc)
N/A
Clinical Placements (that are not part of the PTY Scheme) N/A
ERASMUS Study (that is not taken during Level P) N/A
Study exchanges (that are not part of the ERASMUS Scheme) N/A
Dual Degree N/A
Joint Degree N/A
Further information
N/A
22. Criteria for admission
Applicants should normally hold a Bachelors degree (UK 2.1 or above) or equivalent qualification from a recognised British or overseas university in a related subject (including accountancy, business
administration, economics, engineering, finance, management, mathematics, physics or science).
If an applicant’s Bachelors degree is not in a subject related to the MSc, some relevant work experience would be an advantage. Higher level professional qualifications may also be accepted. Each applicant is assessed on their own merit.
23. Assessment regulations
Please click on the following link for the full assessment
regulations http://www.surrey.ac.uk/quality_enhancement/regulations/index.htm
All programmes within the University of Surrey adhere to the Regulations. All taught programmes also reference and follow the Code of practice for assessment and feedback.
24. Support for students and their learning
Sources of help and advice may include: Induction, handbooks, personal tutors, placement officers, project supervisors, central support services, careers service, SurreyLearn etc.
25. Quality management – indications of quality and the methods for evaluating and improving quality
The quality management of this programme is monitored through:
• Periodic programme review
• Annual Programme Review Reports
• Module Evaluation Questionnaires
• The iGrad Survey
• Joint Staff Student Liaison Committees
• Personal Tutoring
• Board of Study meetings
• Board of Examiners 26. Further information
Further information can be found on our webpages at http://www.surrey.ac.uk/postgraduate/accounting- and-finance, and within the Programme Handbook, which is provided on entry to the Programme.
The Regulations and Codes of Practice for taught programmes can be found at http://www.surrey.ac.uk/quality_enhancement/regulations/index.htm http://www.surrey.ac.uk/quality_enhancement/standards/index.htm
