AccountingandFinance

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AccountingandFinance
AccountingandFinanceisaconstituentDepartmentof theManagementSchool,whichisoneofthetop-ranked managementschoolsintheUKforboththequalityofits teachingandforitsresearch.TheDepartmentiswidely regardedasoneofthepremiercentresinEuropeto studyaccountingand nance-relatedsubjects. KeytoSymbols
Note: Courses often last for more than one term.
FY M

Acoursetaughtthroughout the academic year. A course taught in the Michaelmas term (October – December). A course taught in the Lent term (January – March). A course taught in the Lent and Summer terms (January – June). A course taught in the Summerterm(April–June). Acoursetaughtineitherthe Michaelmas or Lent term. A course will not be taught in the year shown. It may be taught in future years. A course which has not yet been nally approved by the University.

TheDepartmentcurrentlyboastsover 20full-timeacademicsta dedicated toteachingandresearchingallaspects ofaccountingand nance.Re ecting itsinternationalresearchreputation, manyofthedepartment’sseniorsta holdhigh-pro leadvisoryrolesinthe accountingand nanceprofession. Approximately250studentschoose tostudyaccountingand nance undergraduatedegreesatLancaster everyyear.InadditiontoalargeUK studentintake,theDepartment’s reputationforexcellenceattracts studentsfromacrosstheworld, includingEurope,Africa,Northand SouthAmerica,andAsia.Notonlydo thesestudentsgainfrombeingtaught byLancaster’sexpertsta ,theyalso enjoythebene tsofstate-of-the-art teachingfacilities,generouslibrary resources,excellentITprovision anddedicatedcareersupport.

Faculty
DrEArisoy,DrSBanerjee, ProfessorSBartram,DrWBeekes, DrZGao,DrPGore,DrJHuang, DrVKiosse,ProfessorBLambrecht, ProfessorJO’Hanlon,DrAPanaretou, DrGPawlina,ProfessorKVPeasnell, KPilkington,ProfessorMShackleton, DrSTalib,PTaylor,ProfessorSTaylor, DrRWojakowski,ProfessorSYoung, DrMWiddicks.

L LS

StudyAbroadAdviser
DrPelhamGore,email: p.gore@lancaster.ac.uk Thecoursesavailabletostudyabroad studentsareinFinancialAccounting, ManagementAccountingandFinance atintroductory,intermediateand advancedlevels.

S MorL N/A

TBC

Assessment
Mostassessmentisthrougha combinationofcoursework (contributing25%)andexamination (75%).Studentsleavingbeforethe May/Juneexamswillbeassessedby anextrapieceofcourseworkora speciallysettest.

PostgraduateOpportunities
MScinAccountingandFinancial Management,MScinFinance, MScinMoney,BankingandFinance; MPhil/PhDbyresearch.TheMasters’ degreesincludecoursesinCorporate Finance,FinancialMarkets,Derivatives, FinancialReporting,Management ControlSystemsandAdvanced TopicsinFinancialReporting.They arechallengingandinteractive programmesaimedatthoseintending toworkinthe nancialservicesor theaccountancyprofession. Forfurtherinformation,please seewww.lums.lancs.ac.uk/ departments/Accounting

Additionalsyllabusinformationcan befoundatwww.lusi.lancs.ac.uk/ OnlineCoursesHandbook/ ModuleCatalogue/Default.aspx

including mean-variancetrade-o s.recordingand storingtransactionsdata.whichincludesan introductionto nancialaccounting.thetreatmentofanumber ofspeci careas(recognitionand measurementofassets. Thecourseexaminestheregulatory andconceptualframeworksof accountingforUKcompanies. includingtheregulatoryframework. ACF261 IntroductiontoFinancial AccountingforManagers + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics.It alsogivesanintroductiontoAuditing.state preferencetheoryandarbitrage pricing + optionpricing + marketequilibriumand assetpricing.Itis suitableforstudentswhohavealready takenanintroductory nancecourse.LancasterUniversity ACF211 AccountingInformation SystemsandAuditing + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and Introduction to Accounting. capitalbudgeting.internal controls.Includedaretheroleand functionofmanagementaccounting. Thiscourseprovidesadetailed analysisofkeyFinanceparadigms: + decisionmakingunderuncertainty. .behavioural nance. informationformanagement planning.return. ACF213A ManagementAccounting forBusinessDecisions + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits ACF215 AdvancedPrinciples ofFinance + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: advanced mathematics and intermediate nance (equivalent to AC F 214). ACF212 Principlesof FinancialAccounting + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and Introduction to Accounting.whichrunsinboththe MichaelmasandLentterms.provides anintroductiontomanagement accounting. ACF214A PrinciplesofFinance + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits ACF214B PrinciplesofFinance + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and Introduction to Finance. Thiscourseprovidesanintroduction totheanalysisanduseofpublished nancialstatements.thee cient marketshypothesis.thecostofcapital andthecapitalassetpricingmodel.Itis suitableforstudentswhohave completedacourseequivalentto ACF100.corporate nancing. includingutilitytheory + capitalassetpricing. auditplanning.Itissuitablefor studentswithabackground comparabletoACF100. Thiscourseintroducesmethods usedbybusinesstomeetthe nancial informationneedsofexternalparties andmanagement.reporting performance.cash owstatements.Abasicunderstandingof nancialaccountingisassumed.optionsand optionpricingmodels.Itincludes contextualmaterialsonthe preparationof nancialstatements andonthe nancialenvironment. Thiscourse. ACF213B ManagementAccounting forBusinessDecisions + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and Introduction to Accounting.includingdividendpolicy andcapitalstructure.e ectivedesignofAIS.which providesanintroductiontoboth nancialaccountingand nance. EPS)underInternationalFinancial ReportingStandards(IFRS).systemsauditingand substantivetesting.Itincludessystems usedforcollecting.Thecoursecoversmost aspectsofintermediateFinance. Thiscourserunsinboththe MichaelmasandLenttermsand covers:risk. alternativeincomeandvaluation models.decision-makingand control. Itassumesnopreviousknowledge ofaccounting.

lusi. ACF304 BondMarkets + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and. Thetopicscoveredareacquisition andmergeraccounting. and additionally intermediate nance (equivalent to AC F 214) and an understanding of the structure of the UK and/or US nancial system and of the theory of nance comparable to AC F 214.futuresand optionsmarkets.cash ow statements. such as that provided by AC F 212.bothbalancesheetand incomestatement. intermediate nance (equivalent to AC F 214A/B).markets.StudyAbroadCourseHandbook2012 www.dividendpolicy.thepresent valuemodel–valuationof bonds andequities. Thiscourse. Furtherinformationcanbe foundat:www.intermediaries).pricingandtransferpricing. Thiscoursecovers nancial accountingandreportingissuesof concerntogroupsofcompanies. Thiscourseexaminescorporate nancialandinvestmentdecisions. ACF300SeriesCourses Visitingstudentsconsideringtaking courses301to324shouldnotethat: + Theseare nalyearcoursesfor Lancasterstudentsandareonly likelytobesuitableforvisiting studentsenteringtheir nalyear andupperdivisionmajorstudents. Itisintendedtodeepenunderstanding ofsomekeyareasincorporate nance andinvestmentssuchasoption pricing.consolidation methods.foreigncurrency translationandsegmentreporting.ac. additionally. intermediate management accounting (equivalent to AC F 213). ACF303 AdvancedManagement Accounting + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits . timevalueofmoney.aspx + Sometimestheterminwhicha courserunschangesafterthis Handbookispublished.the nancialenvironment (assets. interestrates. ACF305 InternationalFinancial Management + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and. additionally.lancs. + Prerequisites: high school mathematics and.interestratesandin ation ratesandforward.ac.Itassumesnoprevious knowledgeof nance.lancaster.uk/ OnlineCoursesHandbook/Module Catalogue/Default. is assumed. ACF302 CorporateFinance + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics.themain problemsandissuesrelevantinthe managementofinterestrateriskand theprinciplesgoverningthevaluation of xedincomesecuritiesandtheir derivatives.includingstrengthsand weaknessesoftraditionalcosting systems.anoverviewofthe risk/returntrade-o andthecost ofcapital. Theaimofthecourseistodevelop anintellectualandpractical understandingoftheorganisationand structureofbondmarkets.uk AccountingandFinance 20/21 ACF263A IntroductiontoFinance + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits ACF301 FinancialAccountingI + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and additionally knowledge of nancial reporting issues.othercapitalbudgeting methods. Thiscoursecoverstopicsincost allocation. capitalstructuresandcorporate mergers. nancialstatements. additionally intermediate nance (equivalent to AC F 214) including portfolio diversi cation. Thiscourseprovidesknowledge ofareasthatareofimportanceto thoseconcernedwiththe nancial managementofanorganisation operatinginamultinationalsetting.Itcoversthe nancial manager. Entrytothesecoursesissubject tostudentshavingcompleted coursesofasimilarstandardto theadditionalprerequisitesgiven foreachofthecoursesbelow.whichrunsinboththe MichaelmasandLentterms.agencytheory. ACF263B IntroductiontoFinance + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics.provides anintroductionto nancefornonspecialists.Please checkwiththedepartmentifyou arenotattendingLancasterfora fullyear. Areascoveredincludethe relationshipsbetweenexchange rates.

nancial accounting. additionally. + Prerequisites: high school mathematics. such as that provided by AC F 211.Fundamentalissues involvedinauditing nancial statementsand nancialinformation systemsareexamined. ACF307 IssuesinAuditing + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and. ACF324 QuantitativeFinance + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: advanced mathematics and. companyvaluation.Youare assumedtohaveasolidbackgroundin nancialaccountingequivalenttoAC F212above. additionally knowledge of auditing.includingtaxation. ACF317 StrategicManagement Control + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and.Itwillprovideyouwiththe understandingofthescopeofthe literatureonMCSs.andofthelikely consequencesoftheoperationsof particulartypesofMCS. additionally intermediate nance (equivalent to AC F 214). Thiscourseexaminestheeconomic rationaleforauditingandthestructure oftheindustry. Thiscourseenablesyoutoappreciate theusefulnessandlimitationsof informationcontainedin nancial statements. such as that provided by AC F 212. is assumed. Thiscoursecoversadvanced nancial accountingissues.LancasterUniversity AccountingandFinance ACF306 Taxation + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and AC F 100 or equivalent.ethicaldilemmasin business. Thiscoursedescribestimeseries modelsfor nancialmarketprices andshowshowthesemodelscan beappliedbybanksandinvestors.Topicscoveredinclude businessstrategy. Thiscourseincludestherolethat governanceplaysinthemanagement ofabusinessandtheevolution ofgoodgovernancepractice.ratioanalysis.Itincludes securityanalysis. leases. such as AC F 263).pensions. additionally knowledge of nancial reporting issues.thecontentofprofessional ethicscodesandthecontentof regulatorygovernanceframeworks. ACF321 Investments + Terms taught: M + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and. is assumed.g. intermediate management accounting (equivalent to AC F 213).equityandbond portfoliomanagement.provisionsand contingentliabilitieswithinthe contextofInternationalFinancial ReportingStandards(IFRS).creditanalysis andmergersandacquisitions.Italso introducesempiricalresearchof relevancetoaccountingpractitioners andaccountingregulators. additionally intermediate nance (equivalent to AC F 214).the natureofprofessionalethicsand itssigni canceinthebusiness environment. Itcoversrandomwalktestsand forecastingpricevolatilityfor stocksandforeignexchange. such as AC F 261 and introductory nance. ACF308 FinancialStatementAnalysis + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and AC F 100 or equivalent (e. additionally. Thecourseexaminesthestructure ofdirecttaxesastheya ectUK companiesandindividuals.themain policyissuesandtheirimplications fortheconductofbusinessa airs.asset allocation. ACF318 ProfessionalStandardsin FinanceandAccounting Practice + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits . Thiscoursecoversthefundamental conceptsandtechniquesofmodern investmenttheory. Thiscoursedevelopsyourabilityto understandtheroleofaccounting informationinthedesignanduse ofamanagementcontrolsystem (MCS).estimationofriskand usesofderivatives. intermediate nancial accounting (equivalent to AC F 212) and. ACF311 FinancialAccountingII + Terms taught: LS + Credits: 4 semester credits or 8 ECTS credits + Prerequisites: high school mathematics and. intermediate nance (equivalent to AC F 214).