PROGRAMME APPROVAL FORM SECTION 1 THE PROGRAMME SPECIFICATION 1. Programme title and designation MSc Accounting, Accountability & Financial Management 2. Final award Award Title Credit value ECTS Equivalent Any special criteria Accounting, Accountability MSc 180 90 N/A and Financial Management 3. Nested award Credit ECTS Award Title Any special criteria value Equivalent N/A N/A N/A N/A N/A 4. Exit award Award Title Credit value Postgraduate Diploma Accounting, Accountability and Financial Management 120 60 Postgraduate Accounting, Accountability Certificate and Financial Management 60 30 5. Level in the qualifications framework M 6. Attendance Mode of attendance Full-time ECTS Equivalent Any special criteria N/A N/A Part-time NA NA Distance learning Minimum length of programme Maximum length of programme 12 months 6 years 7. Awarding institution/body King s College London 8. Teaching institution King s College London 9. Proposing department Department of Management 10. Programme organiser and contact Details Professors Alexandru Preda alexandru.preda@kcl.ac.uk 11. UCAS code (if appropriate) NA 12. Relevant QAA subject benchmark/ Business and Management professional and statutory body guidelines 13. Date of production of specification November 2009 14. Date of programme review 2015/16 16. Educational aims of the programme The programme seeks to provide a high quality, postgraduate level, research-based education in Accounting, Accountability and Financial Management in a highly challenging intellectual environment. The programme is driven by a combination of research, theory, technique and critical
analysis. The specific aims are to enhance the student's knowledge of: 1. the theoretical foundations of accounting, accountability and financial management; 2. the application of technical accounting and financial management techniques to a variety of scenarios; 3. the internal workings of financial institutions and accounting firms and their interrelationships; 4. the importance of accounting and financial management for businesses and financial institutions. 5. the need for accounting, accountability and financial management to incorporate corporate governance, social responsibility, the needs of a broad group of stakeholders and ethical considerations. 6. The study of accounting, accountability and financial management within an international context. 17. Educational objectives of the programme/programme outcomes The programme provides opportunities for students to develop and demonstrate knowledge, understanding and skills in the following areas: The programme provides opportunities and helps students in acquiring knowledge and understanding of the following: Knowledge and understanding These are achieved through the following teaching/learning methods and strategies: 1. The main subject areas of accounting and financial management, namely: Financial Reporting & Analysis Management Accounting & Control Financial Management Corporate Governance & Accountability 2. Key elements of the philosophies and methodologies underlying a social science approach to the study of accounting, accountability and financial management, emphasising their strengths and limitations. 3. Aspects of, and inter-relationships between, institutions, firms and their external environment, specifically their internal and external stakeholders and the broader social and ethical consequences of decision-making (broadly understood to include economic, social, technological, regulatory, etc., factors). 4. Independent research: Research Methods relevant for investigating issues in accounting, accountability and financial management. Knowledge is acquired by students through a combination of lectures, classes, private study and independent research. Lectures are normally employed to convey key information, demonstrate the broad structure of a topic, and explain more complex material. Lectures and seminars will provide an explanatory framework for student-centred learning, where a greater depth and/or breadth of knowledge is acquired through a combination of activities. These usually encompass recommended reading, supplementary reading, and research for coursework assignments. Understanding is developed and embedded through a variety of guided student-centred learning activities with particular emphasis on student preparation for, and active participation in, regular tutorial classes. These provide a focus for the analysis of, and engagement with, the recommended and supplementary reading. Regular coursework assignments are also designed to develop and embed understanding. Finally, the student is able to study a topic of their own interest in depth, undertaking
Consideration of broader ethical, governance and accountability issues in accounting and financial management. 5. Other specialist subject areas can be taken as options: Financial Statement Analysis Advanced Financial Reporting Advanced Financial Management Accounting Organisations & Society Behavioural Finance independent research (the master s dissertation), with supervision from an experienced researcher in the department. The programme is research led and much of the material will be in the area of research interest of the lecturers responsible for the individual modules. A. Assessment methods and strategies All learning outcomes related to knowledge and understanding are assessed. Assessment methods are specified in each module outline. Formative assessment is provided both informally, through verbal feedback from tutors on students contributions in tutorial classes and unassessed presentations, and formally through written and verbal diagnostic feedback on coursework assignments and any other work submitted. For example, in the modules on Corporate Governance & Accountability, and Accounting, Organisations & Society, candidates will be expected to present arguments relating to specific issues in the contemporary academic and professional literature. These presentations will be assessed informally by the lecturer and they will receive feedback on their performance which may in certain circumstances also include written comments. In Corporate Governance & Accountability, the group will be split into two, and required to debate contentious issues, again receiving feedback on their performance. In Behavioural finance, students will conduct group experiments in the trading lab, with real time data and trading simulation software. The results will be analysed, presented, discussed and assessed in class. Summative assessment is achieved partially through coursework assignments, through end of module unseen examinations and through assessed group presentations in tutorial classes, for certain modules (where appropriate). Coursework varies from module to module, but usually consists of an open-ended essay question, case analysis, project work or presentations, all of which are designed to provide students with opportunities to develop and demonstrate the extent of their in-depth knowledge and understanding of specific
topics. In cases where coursework involves joint work, evidence of individual contributions will also need to be submitted. Detailed diagnostic feedback on coursework is given on an individual basis, with general points arising from coursework discussed in lectures, seminars and/or tutorial classes. Where group presentations are used as a form of summative assessment, students will receive detailed comments in written form on their presentations. Intellectual skills: The programme will foster students ability to: Skills and other attributes These are achieved through the following teaching/learning methods and strategies: 1. Analyse, synthesise and critically evaluate a range of accounting and financial data with respect to relevant theoretical frameworks, and issues of accountability, including the capability to identify assumptions, evaluate statements in terms of evidence, apply appropriate analytical techniques, define terms adequately and generalise appropriately. 2. Create and assess a range of scenarios, including the capacity to apply ideas, techniques, theoretical frameworks and knowledge gained in classes to a range of situations, and integrate knowledge gained from different subject areas of accounting, accountability and financial management in an international context. 3. Conduct independent research, individually or in groups, into selected aspects of accounting and financial management, for example, investment appraisal, corporate governance, narrative reporting, with reference to the importance of accountability. 4. Critically assess differing viewpoints and ethical dilemmas within the context of accounting, accountability and financial management. 5. Demonstrate independence of mind and thought All individual modules require students to utilise one or more elements of these intellectual skills in preparing material for tutorial classes, seminars and coursework assignments, in participating in tutorial class discussions, and in answering examination questions. These guided student-centred learning activities, in conjunction with formal and informal diagnostic feedback from lecturers/tutors, are therefore the primary channel through which intellectual skills are developed and embedded. B Assessment methods and strategies: Analytical skill development is formally assessed through coursework and examinations. Successful completion of coursework assignments and examinations requires students to demonstrate their abilities in one or more of these analytical skills as part of the explicit or implicit requirements of specific coursework and examination questions. For example, most coursework and examination questions are designed to provide students with scope to demonstrate their analytical abilities as well as their ability to criticise and evaluate differing theoretical and ethical perspectives
Practical skills: The programme will enable students to: 1. Effectively identify, formulate and solve problems, and make decisions, using appropriate quantitative and/or qualitative skills. 2. Use a wide variety of databases and trading software to locate, retrieve and analyse accounting and financial management information. 3. Use established models in accounting, accountability and financial management to solve practical business problems and understand phenomena, including dealing with complexity and uncertainty, and the requirements of different cultures and systems. 4. Use effectively interpersonal skills of negotiation, persuasion and presentation in cross-cultural settings. 5. Use quantitative research skills, including data analysis and econometric modelling in solving problems. 6. Use qualitative skills, such as case studies, interviewing and questionnaire methodology to understand accounting, accountability and financial management issues in an international context. 7. Communicate and present information, relevant workings and solutions effectively in both oral and written form. 8. Use debating skills to discuss the broader social, ethical and environmental implications of accounting and financial management with peers and staff in an effective and persuasive manner 9. Use skills of critical evaluation to balance conflicting ideas relevant to accounting and financial management, taking heed of accountability considerations These are achieved through the following teaching/learning methods and strategies: All individual modules involve students developing and utilising a combination of these practical skills in preparing material for tutorial classes and coursework assignments, actively participating in discussions, and in answering examination questions. These guided student-centred learning activities, in conjunction with both formal and informal diagnostic feedback from lecturers/tutors, are therefore the primary channel through which practical skills are developed and embedded. Some modules also explicitly develop some of these practical skills in the subject material delivered on the programme. In addition to assessed modules, supplementary English as a Second Language support classes are made available by the School. C. Assessment methods and strategies: Adequate development of practical skills is assessed partially indirectly and partially directly through successful performance in both coursework and examinations. Many coursework assignments and examination questions require students to utilise some of these practical skills explicitly, while the acquisition of adequate knowledge, and the development of sufficient understanding, in many modules will necessitate students utilising several of these key practical skills. Individual and/or group presentations will be used to assess communication skills as well as debating and critical skills, in certain modules, where appropriate. Generic/transferable skills: The programme will develop in students a capacity for 1. Effective self-management in terms of time, planning and behaviour, motivation, self-starting, individual initiative and enterprise. 2. Learning to learn and developing an These are achieved through the following teaching/learning methods and strategies: The development and utilisation of these generic/transferable skills are elements of every module on a postgraduate degree programme. For example, active participation in tutorial discussions and
appetite for learning and research in a reflective, adaptive and/or collaborative manner. 3. Effective communication, both oral and written, using a range of media which are widely used in accounting and financial management. 4. Self awareness, openness and sensitivity to diversity in terms of people, cultures, ethical relativism and management issues. 5. Effective performance within a team environment, including: leadership, team building, influencing other people, and project management skills. 6. Effective conflict resolution and negotiation skills as a team member in any organisation. presentations at all levels allows students to develop their communication skills, while time management is important as students must cope with a variety of coursework deadlines in the latter part of each semester. D Assessment methods and strategies: Passing the assessment, including coursework, examinations and thesis, requires students to utilise effectively generic/transferable skills 1, 2 and 3. Exposure to the multicultural learning environment and range of learning activities which will be experienced by all students successfully completing the degree programme develops generic/transferable skill 4. Adequate preparation for passing the assessed coursework and examinations in modules utilising group work in tutorial classes requires students to effectively utilise generic/transferable skill 5. Students have to work in groups for some assignments and will learn to negotiate and solve conflicts to be able to work with each other and to learn group dynamics, requiring them to display competence in skill 6. Therefore, while few modules explicitly assess generic/transferable skills, their assessment is contextualised through successful performance in the assessed activities described under headings A, B, and C above. 18. Statement of how the programme has been informed by the relevant subject benchmark statement(s)/professional, regulatory and statutory body guidelines The 2007 subject benchmark statement for Masters Awards in Business and Management that relates to type 1 (career entry) specialist Masters Degrees has been used to inform the knowledge, understanding and skills outcomes for this programme. The programme has been designed such that, taken together, the programme s compulsory modules cover the broad knowledge requirements of the benchmark statement. Optional modules then provide greater depth in selected areas, enabling students to determine their own balance between different elements of the benchmark requirements. 19. Programme structure and award requirements (where relevant the information should also differentiate the particular requirements of pathways within a programme or nested/exit awards) (a) numbers of introductory, core, compulsory and optional modules to be taken in each year of the programme with related credit values 5 * 15 = 75 Compulsory taught modules, 3* 15 = 45 optional taught modules, 60 Credit dissertation (Core)
(b) range of credit levels permitted within the programme 7 (c) maximum number of credits permitted at the lowest level 180 (d) minimum number of credits required at the highest level 180 (120 for Pg Diploma) (e) progression and award requirements (if different from the standard) Standard (f) maximum number of credits permitted with a condoned fail (core modules excluded) 30 (g) are students permitted to take a substitute module, as per regulation A3, 20.7? Yes (h) other relevant information to explain the programme structure n/a
Programme structure Code Title Credit Credit Status (I, C, O) for each Progression Assessment level value type of programme Single honours Joint honours Major/ minor Single honours Joint honours Major/ minor 7SSMM600 Financial Reporting & Analysis 7 15 Cp No Examination, Assessed Group Presentation 7SSMM601 Management Accounting & Control 7 15 Cp No Examination, Coursework 7SSMM602 Financial Management 7 15 Cp No Examination, Coursework 7SSMM603 Research Methods 7 15 Cp No Coursework 7SSMM604 Research Dissertation 7 60 Cr (MSc No Coursework only) 7SSMM605 Corporate Governance & Accountability 7 15 Cp No Examination, Assessed Group Presentation 7SSMM606 Financial Statement Analysis 7 15 O No Examination, Coursework 7SSMM607 Advanced Financial Reporting 7 15 O No Examination, Coursework 7SSMM608 Advanced Financial Management 7 15 O No Examination, Coursework 7SSMM609 Accounting Organisations & Society 7 15 O No Examination, Assessed Group Presentation 7SSMM610 Behavioural Finance 7 15 O No Examination, Coursework In the Autumn Semester, Candidates shall be required to pursue: Compulsory: Financial Reporting & Analysis (7SSMM600) Management Accounting & Control (7SSMM601) Financial Management (7SSMM602) Research Methods (7SSMM603) In the Spring Semester, Candidates shall be required to pursue: Compulsory: Corporate Governance & Accountability (7SSMM605) Three Optional Modules from: Financial Statement Analysis (7SSMM606) Advanced Financial Reporting (7SSMM607) Advanced Financial Management (7SSMM608)
Accounting, Organisations & Society (7SSMM609) Behavioural Finance (7SSMM610) Research Dissertation (7SSMM604) 20. Marking Criteria Generic College marking criteria employed 21. Particular features of the programme which help to reduce the barriers experienced by disabled students and ensure that the programme is accessible to all students who meet the entry requirements Materials for the programme will wherever possible be made available online in order to facilitate the use of computer-based aids to learning. There are lifts available for disabled access in the buildings where teaching and student consultation will take place. Staff offices are accessible to disabled students. Delivery of modules needs to be tailored to fit the individual needs of disabled students.