BSc Accounting and Finance Degree Course: Structure, Modules, and Learning Outcomes, Study Guides, Projects, Research of Accounting

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Royal Holloway, University of London

Course specification for an undergraduate award

BSc Accounting and Finance (NN34)

Section 1 – Introduction to your course This course specification is a formal document, which provides a summary of the main features of your course and the learning outcomes that you might reasonably be expected to achieve and demonstrate if you take full advantage of the learning opportunities that are provided. Further information is contained in the College prospectus, and in various handbooks, all of which you will be able to access online. Alternatively, further information on the College’s academic regulations and polices can be found here. Further information on the College’s Admissions Policy can be found here. Your degree course in BSc Accounting and Finance is delivered in three stages, each of which comprises one year of full-time study during which you must follow modules to the value of four units (one unit is equivalent to 30 notional credits). Accounting is a broad-based academic subject and a field of study with practical implications, offering the chance to develop related personal and technical skills. The study of accounting involves the consideration of both conceptual and applied aspects of the subject. The degree structure is progressive, allowing you to move from foundation modules to more critical or specialist modules, while maintaining a flexible set of options. A wide range of modules is offered, including those drawn more widely from the School of Management, to ensure that students appreciate the diverse, interdisciplinary nature of accounting, and also gain or reinforce a range of conceptual, technical, intra and interpersonal skills. The course embeds international and ethical considerations widely, with optional modules grounding the study of accounting and finance in a broader understanding of the perspectives that inform accounting theory and practice. Stage one provides a foundation for advanced and independent study through establishing a platform of essential knowledge and skills. This platform includes the core cognate areas of accounting (financial accounting and management accounting) and finance together with quantitative techniques, considerations relevant to international business, and the economic, ethical and social environments in which the accountant, the accounting profession and organisations operate. You are required to attend non-credit bearing academic and professional skills sessions, which focus on key study skills which are critical to success at undergraduate level, together with core knowledge of the accounting profession and professional norms. This stage also provides a foundation for the later stages by introducing the main current technical language and practices of accounting in the core areas of financial accounting, management accounting and finance. You are also prepared for future professional careers in business through the study of professional competencies. In stage two there is a greater emphasis on independent learning, and you build upon your foundation knowledge for the further study of the core accounting areas, including an introduction to some of the alternative technical languages and practices of accounting. In addition, you may choose options that extend their knowledge of accounting and finance theories and practices, or other mainstream areas of business and management. In stage three you study, at an advanced level, the core areas of accounting and finance, and select specialist options which give the opportunity to develop particular skill sets, to deepen understanding of core accounting theories and practice, and to extend their knowledge of literature, theory and case evidence and the associated practical implications for accounting and finance.

While Royal Holloway keeps all the information made available under review, courses and the availability of individual module units, especially optional modules are necessarily subject to change at any time, and you are therefore advised to seek confirmation of any factors which might affect your decision to follow a specific course. In turn, Royal Holloway will inform you as soon as is practicable of any significant changes which might affect your studies. The following is brief description for some of the most important terminology for understanding the content of this document: Degree course – May also be referred to as ‘degree course’ or simply ‘course’, these terms refer to the qualification you will be awarded upon successful completion of your studies. Module – May also be referred to as ‘course’, this refers to the individual units you will study each year to complete your degree course. Undergraduate degrees at Royal Holloway comprise a combination of modules in multiples of 15 credits to the value of 120 credits per year. On some degree courses a certain number of optional modules must be passed for a particular degree title.

Section 2 – Course details Date of specification update September 2019 Location of study Egham Campus Course award and title BSc Accounting and Finance Level of study Undergraduate Course code 2902 UCAS code NN Year of entry 2020 /2 1 Awarding body Royal Holloway, University of London Department or school School of Management Other departments or schools involved in teaching the course

N/A

Mode(s) of attendance Full-time Duration of the course Three years Accrediting Professional, Statutory or Regulatory Body requirement(s)

• ICAEW

• CIMA

• CIPFA

• CPA (Australia) In the case of BSc Accounting and Finance some combinations of individual modules allow students to apply for exemptions and/or credit for prior learning from professional accounting bodies. Link to Coursefinder for further information: https://www.royalholloway.ac.uk/studying- here/ For queries on admissions: [email protected].

Section 3 – Degree course structure 3.1 Mandatory module information The following table summarises the mandatory modules which students must take in each year of study Year Module code Module title Contact hours Self- study hours Written exams* Practical assessment** Coursework** Credits FHEQ level Module status (see below)** 1 AF1205 International Business 29 121 0 40 60 15 4 MC 1 AF1401 Financial Accounting 72 228 50 50 0 30 4 MNC 1 AF1402 Introduction to Management Accounting

36 114 80 20 0 15 4 MNC

1 AF1403 Introduction to Finance 36 114 80 20 0 15 4 MNC 1 AF1406 Quantitative Methods for Accounting and Finance

29 121 100 0 0 15 4 MC

1 AF1407 Professional Competencies 24 126 0 0 100 15 4 MC 2 AF2401 Financial Reporting 36 114 70 0 30 15 5 MNC 2 AF2402 Management Accounting for Performance and Decision Making

36 114 70 30 0 15 5 MNC

2 AF2403 Corporate Finance 38 112 70 0 30 15 5 MNC 2 MN2205 Strategic Management 29 121 0 50 50 15 5 MC 2 MN2425 Managerial Economics 29 121 75 5 20 15 5 MC 2 MN2545 Business Information Systems for Accounting and Finance

30 120 70 0 30 15 5 MC

This table sets out the most important information for the mandatory modules on your degree course. These modules are central to achieving your learning outcomes, so they are compulsory, and all students on your degree course will be required to take them. You will be automatically registered for these modules each year. Mandatory modules fall into two categories; ‘condonable’ or ‘non-condonable’. In the case of mandatory ‘non-condonable’ (MNC) modules, you must pass the module before you can proceed to the next year of your course, or to successfully graduate with a particular degree title. In the case of mandatory ‘condonable’ (MC) modules, these must be taken but you can still progress or graduate even if you do not pass them. Please note that although Royal Holloway will keep changes to a minimum, changes to your degree course may be made where reasonable and necessary due to unexpected events. For example; where requirements of relevant Professional, Statutory or Regulatory Bodies have changed and course requirements must change accordingly, or where changes are deemed necessary on the basis of student feedback and/or the advice of external advisors, to enhance academic provision. *Contact hours come in various different forms, and may take the form of time spent with a member of staff in a lecture or seminar with other students. Contact hours may also be laboratory or, studio-based sessions, project supervision with a member of staff, or discussion through a virtual learning environment (VLE). These contact hours may be with a lecturer or teaching assistant, but they may also be with a technician, or specialist support staff. **The way in which each module on your degree course is assessed will also vary, however, the assessments listed above are all ‘summative’, which means you will receive a mark for it which will count towards your overall mark for the module, and potentially your degree classification, depending on your year of study. On successful completion of the module you will gain the credits listed. ‘Coursework’ might typically include a written assignment, like an essay. Coursework might also include a report, dissertation or portfolio. ‘Practical assessments’ might include an oral assessment or presentation, or a demonstration of practical skills required for the particular module. 3.2 Optional modules In addition to mandatory module units, there will be a number of optional module units available during your degree. The following table lists a selection of optional modules that are likely to be available. However, not all may be available every year. Although Royal Holloway will keep changes to a minimum, new options may be offered or existing ones may be withdrawn. For example; where reasonable and necessary due to unexpected events, where requirements of relevant Professional, Statutory or Regulatory Bodies (PSRBs) have changed and course requirements must change accordingly, or where changes are deemed necessary on the basis of student feedback and/or the advice of External Advisors, to enhance academic provision.There may be additional requirements around option selection, so it is important that this specification is read alongside your department’s Student Handbook, which you can access via their webpage. 3 AF3401 Advanced Financial Reporting 38 112 70 0 30 15 6 MC 3 AF3402 Management Accounting for Strategic Analysis

38 112 70 0 30 15 6 MC

3 AF3403 Investment Management 38 112 70 0 30 15 6 MC 3 AF3409 Ethics for Accounting and Finance 29 121 70 0 30 15 6 MC

Year 1 Year 2 Year 3 AF1404 Business Law AF2404 Audit and Assurance AF3405 Communication and Impression Management in Accounting MN1125 Economic and Social Foundations of Sustainable Organisations AF2406 Principles of UK Taxation AF3406 Taxation: Economics, Policy and Practice MN1305 Markets and Consumption MN2305 Marketing Strategy in Context MN3045 International Financial Reporting AF1408 Financial Literacy and Personal Financial Planning MN2325 Digital Marketing AF3410 Contemporary issues in Accounting and Finance MN 2225 Multinational Enterprise MN3311 Dissertation MN2165 The Global Economy MN3325 Global Marketing MN2615 Fundamentals of Entrepreneurship MN3455 Advertising and Promotions MN2815 Business, Politics and Society MN3545 Project Management MN3515 Business Data Analytics BI5501 Enterprise Systems Management MN3535 Business Process Applications MN3205 Emerging Markets MN3215 Asia Pacific Business MN3225 European Business MN3725 Corporate Governance AF3411 International Financial Market 3.3 Optional module requirements In stage one you must choose one optional 15 credit module from Business Law (AF1404), from Management (MN) modules, or from another department. During stage two, you must choose modules to the value of 30 credits from Audit and Assurance (AF2404), Principles of UK Taxation (AF2406), or from a list of Stage Two Management (MN) modules. During stage three, you must take modules to the value of at least 30 credits from AF3405, AF3406, AF3408, and AF3410. If you do not choose all four AF modules above (AF3405, AF3406, AF3408 and AF3410) then you must choose modules to the sum of 120 credits in total for the year from a list of Stage Three Management (MN) modules.

Section 4 - Progressing through each year of your degree course For further information on the progression and award requirements for your degree, please refer to Royal Holloway’s Academic Regulations. As part of your degree course you may also be required to complete a module to develop your academic writing skills. This module does not carry credit but passing it is a requirement to progress to the next year of study. Section 5 – Educational aims of the course The aims of this course are:

• to provide an intellectually challenging and relevant education which will equip students with the analytical competence, knowledge base, critical capabilities, and personal and technical skills required for future roles in business, the public sector, and society and for further study and doctoral research;
• to combine academic and practical insights into the subject of accounting within an international and comparative context;
• to reflect the dynamic nature of the business world and specifically accounting in the international environment;
• to provide a learning environment informed by the research expertise of academic staff;
• to develop students’ lifelong learning skills, and instil and improve a broad range of transferable personal and technical skills;
• to provide for integration between theory and practice by a variety of means including, for example, work-based experience or placement, or input from external business-related visitors;
• to provide students with knowledge and understanding of accounting theory and practice sufficient to meet some of the accreditation requirements of the professional accounting bodies.

Section 6 - Course learning outcomes In general terms, the courses provide opportunities for students to develop and demonstrate the following learning outcomes. ( _Categories – Knowledge and understanding (K), Skills and other attributes (S), and Transferable skills ())_*

1. The principal interdisciplinary and comparative perspectives that inform accounting and finance theory and practice (K) ;
2. The international, economic, regulatory, ethical and social environments contexts in which accounting and finance operate, leading to a multifaceted appreciation of accounting and finance, the main accounting frameworks, theories, technical languages and practices, and their relevance and application to theoretical and practical problems (K) ;
3. The alternative accounting frameworks, theories, technical languages and practices and their relevance and application to theoretical and practical problems (K) ;
4. The major theoretical tools and theories of finance, and their relevance and application to theoretical and practical problems (K) ;
5. The financing arrangements and governance mechanisms and structures of business entities, and an appreciation of how theory and evidence can be combined to assess the effectiveness and efficiency of such arrangements (K) ;
6. Contemporary theories and empirical evidence concerning the interaction of accounting and finance with people in organisations, the capital markets and with regulatory systems (K) ; 7. A capacity for critical evaluation of arguments and evidence, and the presentation of this in well-structured pieces of work (S)* ; 8. An ability to synthesise and evaluate information from a number of sources so as to gain a coherent understanding of both the theory and practice of accounting and finance, and their contexts (S)* ; 9. An ability to identify problems, and select appropriate information in order to analyse and draw reasoned conclusions concerning structured and unstructured problems (S)* ; 10. An ability to record, summarise and analyse transactions and other economic events (S)* ; 11. An ability to acknowledge and reference sources in an approved format (S)* ; 12. A capacity for independent and self-managed learning, setting priorities and working to prescribed time limits, including the planning and execution of an independent study project (S)* ; 13. Numeracy skills, including the processing, analysis and interpretation of financial, statistical and other numerical data (S)* ; 14. The ability to use effectively contemporary information and communications technology for the acquisition, analysis and communication of information (S)* ; 15. Effective oral and written communication skills, including communicating quantitative and qualitative information, together with analysis, argument and commentary, in a form appropriate to the intended audience (S)* ; 16. The ability to work collaboratively and productively with others, including the giving and receiving of constructive feedback (S)*.

Section 7 - Teaching, learning and assessment Teaching is through a number of means, depending on the specific topic or module, but is mostly by lectures, seminars and workshops. Lectures normally cover the essential subject matter, guided question practice and literature review, and they provide summaries of the key concepts, technical language and debates. Seminars or workshops supplement lectures, or allow you the opportunity to practise or acquire a technical or personal skill. They employ a range of approaches, including case studies, small or large group discussion and other forms of collaborative learning, role-plays, one-to-one interactions including peer feedback and review, question and answer sessions, information technology, or computer-based training. Considerable emphasis is placed on personal study and library work, often in preparation for seminars, workshops and lectures, and modules provide guided reading and indicative bibliography. Formative and summative assessment methods vary in accordance with the aims and outcomes of a specific topic or module, but frequently involve a combination of in-module assessment and formal end-of-year written examinations. In addition, practical skills assessments, group and individual projects, in-module tests, group and individual presentations, reports, quantitative analysis, and essays are all used at some point during the courses. For all formative assessments and for in-class tests on AF modules, you receive either written or oral feedback, which may be generic or individual. At stage one, teaching, learning and assessment focus on the development of foundation knowledge and understanding and the skills for advanced study; at stage two, there is an emphasis on independent learning and development of conceptual capabilities and advanced knowledge and understanding; and stage three allows you to deepen your specialist knowledge, adopt more critical and evaluative approaches and carry out independent research. Full details of the assessments for individual modules can be obtained from the School. Section 8 – Additional costs None. These estimated costs relate to studying this particular degree course at Royal Holloway. General costs such as accommodation, food, books and other learning materials and printing etc., have not been included, but further information is available on our website.

Section 9 – Indicators of quality and standards QAA Framework for Higher Education Qualifications (FHEQ) Level 4 - 6 Your course is designed in accordance with the FHEQ to ensure your qualification is awarded on the basis of nationally established standards of achievement, for both outcomes and attainment. The qualification descriptors within the FHEQ set out the generic outcomes and attributes expected for the award of individual qualifications. The qualification descriptors contained in the FHEQ exemplify the outcomes and attributes expected of learning that results in the award of higher education qualifications. These outcomes represent the integration of various learning experiences resulting from designated and coherent courses of study. QAA Subject benchmark statement(s) http://www.qaa.ac.uk/quality-code/subject-benchmark-statements Subject benchmark statements provide a means for the academic community to describe the nature and characteristics of courses in a specific subject or subject area. They also represent general expectations about standards for the award of qualifications at a given level in terms of the attributes and capabilities that those possessing qualifications should have demonstrated.

Section 11 – Intermediate exit awards (where available) You may be eligible for an intermediate exit award if you complete part of the course as detailed in this document. Any additional criteria (e.g. mandatory modules, credit requirements) for intermediate awards is outlined in the sections below. Award Criteria Awarding body Diploma in Higher Education (DipHE) Pass in 210 credits of which at least 90 must be at or above FHEQ Level 4 and at least 120 of which must be at or above FHEQ Level 5 Royal Holloway and Bedford New College Certificate in Higher Education (CertHE) Pass in 120 credits of which at least 90 must be at or above FHEQ Level 4 Royal Holloway and Bedford New College Section 10 – Further information This specification provides a concise summary of the main features of the course and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate when taking full advantage of the learning opportunities that are available. More detailed information on modules, including teaching and learning methods, and methods of assessment, can be found via the online Module Catalogue. The accuracy of the information contained in this document is reviewed regularly by the university, and may also be checked routinely by external agencies, such as the Quality Assurance Agency (QAA). Your course will be reviewed regularly, both by the university as part of its cyclical quality enhancement processes, and/or by your department or school, who may wish to make improvements to the curriculum, or in response to resource planning. As such, your course may be revised during the course of your study at Royal Holloway. However, your department or school will take reasonable steps to consult with students via appropriate channels when considering changes. All continuing students will be routinely informed of any significant changes.

Section 12 - Associated award(s) BSc Accounting and Finance (NN34) BSc Accounting and Finance (year in business) (NN43) BA Accounting Studies BA Accounting Studies (year in business)