Programme Specification BSc (Hons) Accounting and Finance Valid from: September 2015 Faculty of Business
SECTION 1: GENERAL INFORMATION Awarding body: Teaching institution and location: Final award: Programme title: Interim exit awards and award titles: Brookes course code: UCAS/UKPASS code: JACS code: Mode of delivery: Mode/s of study: Language of study: Relevant QAA subject benchmark statement/s: External accreditation/ recognition: (applicable to programmes with professional body approval) Faculty managing the programme: Date of production (or most recent revision) of specification: Oxford Brookes University Oxford Brookes University BSc Honours (single) Accounting and Finance Degree without Honours Named Diploma in Higher Education Diploma in Higher Education Certificate in Higher Education DG NN43 BSc/DG N400 On Campus Full time, Part time English Honours degree subject benchmark statement for Accounting, published by the Quality Assurance Agency for Higher Education (QAA) (2007) http://www.qaa.ac.uk/publications/informationandguidance/pages/subjectbenchmark-statement-accounting.aspx Accreditation for exemptions: Association of Chartered Certified Accountants (ACCA) www.accaglobal.com Chartered Institute of Management Accountants (CIMA) www.cimaglobal.com Institute of Chartered Accountants in England and Wales (ICAEW) www.icaew.com Faculty of Business March 2015 2
SECTION 2: OVERVIEW AND PROGRAMME AIMS 2.1 Rationale for distinctiveness of the programme This programme offers international students the opportunity to study for a high quality academic degree with strong vocational emphasis. The programme has been designed to address the needs of students wanting to train for a career in accounting or finance, as well as those who may prefer to work in general business or continue to masters level study in a related subject. There are three distinctive aspects to this programme. 1) The programme is extremely flexible. Those seeking wider careers options on graduation can design a broad programme adding to the compulsory modules a combination of business and non commercial subjects. Alternatively those seeking maximum exemptions from professional accounting exams can design a degree more closely focussed on accounting and finance. 2) The programme allows a transfer to a related degree or access to study within those areas. At the end of a core first year, students can elect to move onto one of two pathway degrees, Accounting and Business or Accounting and Information Management. Equally they can remain on the Accounting and Finance degree which still allows them to choose modules from the two pathways if they wish. The pathways allow students wishing to signal a particular career choice to do so, distinguishing themselves in the career marketplace. 3) The programme, its content and approach to teaching and learning, was designed specifically around the concept of the well rounded accountant. This concept is explained in the following section. 2.2 Aims of the programme The programme aims to prepare students for a career in accounting or related areas by developing wellrounded accounting graduates. They will be: Team players, because they will have spent time carrying out group work and reflecting on the effectiveness of teamwork. Numerate and comfortable with using numbers as a source of information and will be able to use them to make decisions and solve problems. Good communicators because they will have had the opportunity to practise and develop their communication skills through presentations, report writing and seminar discussions. Commercially aware, a key employability skill, engendered through employer involvement with the programme. Able to blend critical enquiry with practical insight having applied theoretical knowledge to practical scenarios and case studies. Analytical, being able to take complex information from a variety of sources and use it to solve problems. Independent learners, having developed through a variety of teaching and learning strategies designed to foster their independence as they progress through their studies. Adaptable and flexible, having learned through a variety of methods. 3
SECTION 3: PROGRAMME LEARNING OUTCOMES Knowledge, understanding and skills: 3.1 Academic literacy 1. Understand the function and operation of accounting in a range of contexts, informed by current thinking and research in the discipline 2. Appreciate and demonstrate the capacity to apply international accounting standards and practices 3. Recognise the limitations and uncertainties of practice and alternatives offered, within the discipline of accounting. 4. Understand and apply accepted techniques to the recording of business transactions and the preparation of financial statements. 5. Appraise the performance and financial situation of organisations. 6. Select and apply management accounting techniques to practical situations. 7. Solve problems of a financial and non-financial nature (also in Critical self-awareness and personal literacy) 3.2 Research literacy 10. Critically evaluate contemporary theories, arguments and empirical evidence in accounting and finance 11. As an individual and in groups, design and conduct effective self-directed research into accounting concepts and practice 3.3 Critical self-awareness and personal literacy 11. Demonstrate self-management in terms of meeting programme deadlines and managing own programme of study to achieve academic and professional objectives 12. Demonstrate ability to act as a self directed learner able to learn from reflection on experiences of study and employment 3.4 Digital and information literacy 15. Locate, extract, analyse and evaluate information from multiple sources, with appropriate acknowledgement and referencing 16. Use common software packages to gather, process, store, analyse and present information 17. Use computer based learning packages to guide and support study 18. Communicate effectively in academic and professional contexts using presentations, written reports and other forms of communication as appropriate 3.5 Active citizenship 18. Demonstrate the use of current accepted technical language of accounting and accounting practice internationally 19. Demonstrate an ability to think globally and consider issues from a variety of perspectives 20. Understand and evaluate international financial developments including the impact of regulatory proposals on a variety of global participants 21. Work effectively and collaboratively in diverse teams 4
SECTION 4: PROGRAMME STRUCTURE AND CURRICULUM 4.1 Programme structure and requirements: Level 4 Stage I Requirements for progression to Stage II: 8 Level 4 module credits Level 4 modules Module Module Title Credit Status Number value U50000 Accounting in Society 15 Compulsory U50003 Essential Information Skills 15 Compulsory U50004 Introduction to Accounting 30 Compulsory U51002 Foundations of Business 15 Compulsory (if without Business A level) U52006 Business Economics and Financial 15 Compulsory Markets U50013 Raising Individual Financial 15 Recommended Awareness U52007 Quantitative Techniques in 15 Recommended Economics and Finance I U55002 Foundations of Marketing 15 Recommended U58003 Global Business Communications 15 Recommended U70910 Academic Writing for Business 15 Recommended (for students who don t have English as a first language) Level 5/6 Stage II Requirements for Honours award:16 module credits including 6 Level 6 (Honours) module credits Level 5 modules Module Module Title Credit Status Number value U50024 Management Accounting 15 Compulsory U50033 Corporate Finance 15 Compulsory U50035 Financial Accounting and Reporting 30 Compulsory U50025 Auditing Practice 15 Acceptable U50026 Auditing Theory 15 Acceptable U50027 Personal Taxation 15 Acceptable U50028 Advanced Taxation 15 Acceptable U50030 Accounting Information Systems 15 Acceptable U50032 Corporate and Business Law 15 Acceptable U50034 E-business 15 Acceptable U50036 Delivering Business Value from 15 Acceptable Information Systems U50037 Management Information Systems 15 Acceptable U50038 Mathematics for Decision Making 15 Acceptable U51035 Business Strategy for Competitive Advantage 15 Acceptable 5
U51037 International Business 15 Acceptable U51056 Environmentally Sustainable 15 Acceptable Business U51057 The Business of Sport and 15 Acceptable Entertainment U51069 Independent Study Community 15 Acceptable Engagement U52022 International Finance 15 Acceptable U52025 Financial Markets and Institutions 15 Acceptable U52029 International Markets and 15 Acceptable Competition U52030 Quantitative Techniques in 15 Acceptable Economics and Finance 11 U54029 Revenue Management and Pricing 15 Acceptable U55038 Managing Business Operations 15 Acceptable U55039 Managing Business Projects 15 Acceptable U58022 Enterprise and Entrepreneurship 15 Acceptable U58023 Ethics in Business 15 Acceptable U58027 Managing Non-Profit Organisations 15 Acceptable U58029 Organisational Behaviour 15 Acceptable U58030 Skills for Placement Search 0 Acceptable but compulsory for placement year U58065 Placement 15 Acceptable Not more than 2 modules can be taken from the following list Module Module Title Credit Status Number value U61512 French B1 (1) 15 Alternative acceptable U61513 French B1 (2) 15 Alternative acceptable U61514 French 4A 15 Alternative acceptable U61515 French 4B 15 Alternative acceptable U61520 French 5A 15 Alternative acceptable U61521 French 5B 15 Alternative acceptable U62012 German B1 (1) 15 Alternative acceptable U62013 German B1 (2) 15 Alternative acceptable U62712 Mandarin Chinese 2 A 15 Alternative acceptable U62713 Mandarin Chinese 2 B 15 Alternative acceptable U63012 Japanese 2 A 15 Alternative acceptable U63013 Japanese 2 B 15 Alternative acceptable U63512 Spanish B1 (1) 15 Alternative acceptable U63513 Spanish B1 (2) 15 Alternative acceptable U63514 Spanish 4A 15 Alternative acceptable U63515 Spanish 4B 15 Alternative acceptable U63528 Spanish 5A 15 Alternative acceptable U63529 Spanish 5B 15 Alternative acceptable U70923 Academic English for Business 15 Alternative acceptable Purposes U70924 Higher Academic English Language Skills 15 Alternative acceptable 6
Level 6 (Honours) modules Module Module Title Credit Status Number value U50081 Financial Accounting Theory 15 Compulsory U50082 Business Aspects of Management 15 Compulsory Accounting U50093 Accounting Synoptic 30 Alternative compulsory U50099 Dissertation in Accounting 30 Alternative compulsory U50070 Business Intelligence and Decision 15 Acceptable Making U50071 Information Systems Strategy 15 Acceptable U50072 The Developing Business 15 Acceptable U50083 Contexts of Accounting 15 Acceptable U51071 Strategic Futures Insight and Design 30 Acceptable U52071 Econometrics 15 Acceptable U52073 Finance and Development 15 Acceptable U52080 Contemporary Issues in Finance 15 Alternative Compulsory U52081 Advanced Financial Management 15 Alternative Compulsory U58088 Independent Study 15 Acceptable 4.2 Professional requirements The following modules are required in order to achieve current accreditation (see above for module titles) ACCA (the Association of Chartered Certified Accountants) Exemption from papers: F1- F4 DG degree F5 U50024 and U50082 F6 U50027 and U50028 F7 U50035 and U50081 F8 U50025 and U50026 F9 U52006 and U50033 CIMA (Chartered Institute of Management Accountants) Exemption from papers: C1 U50004, U50024 C2 U50000, U50004, U50035 C3 U50003, U52007, U52030 C4 U52006 C5 U50000, U50032 P1 U50004, U50024, U50033 F1 U50028, U50035, U50081 ICAEW (The Institute of Chartered Accountants in England and Wales) Exemption from papers Accounting U50004, U50035 Assurance U50025, U50026 Management Information U50004, U50082, U50035, U50033 Principles of Tax U50027, U50028 Business and Finance DG degree class 1 st or 2.1 The detailed information on exemptions is available to students via the Virtual Learning Environment. 7
SECTION 5: PROGRAMME DELIVERY 5.1 Teaching, Learning and Assessment Teaching and learning The majority of teaching on the programme is undertaken in small group interactive class sessions. This mode of teaching provides opportunities for frequent informal formative feedback, the development of valuable positive relationships amongst staff and students, and encourages student participation. Each module worth 15 credits has a notional 150 hours of study. In a typical accounting and finance module 24 hours is allocated to weekly seminar or workshop sessions with the remainder to be used for weekly class preparation and reading, self study practice exercises, coursework and exam preparation. Exceptions to this approach are notably the dissertation and synoptic modules where the student is expected to work largely independently and class contact is reduced or replaced by one to one supervision. Students are encouraged to work individually and in groups from the start of the programme. Autonomous learning is extensively supported during the first year but students are encouraged to become more independent as the course develops. The main methods of learning are through case studies, reading and research, problem solving and technical activities, group discussions, diagnostic and summative assessment. Assessment Assessment is partially constrained by accreditation. Every module listed in the programme requirements above requires a minimum of 50% examination and 3 hours of examination for each paper exemption gained. The programme aims to strike a balance between innovation and variety in forms of assessment and gives students the opportunity to learn on the basis of feedback from previous assessments. Assessments are designed to reflect the progressive development of the Brookes Attributes. The programme assessment strategy has been informed by the Brookes Assessment Compact. It has been carefully designed to ensure the following: - Different assessment methods are practised to ensure wide development of skills and maintenance of interest - There is, where possible, a balance of assessment across the semester to avoid concentration of deadlines workloads (a schedule of assessment is available to students) - The assessment method is suited to the particular knowledge, understanding and attributes being developed and assessed each time - The learning outcomes being assessed and the assessment criteria are set out in guidance and used in grading and marking - Constructive feedback is provided promptly and where possible coursework is marked and returned by seminar leaders to provide additional opportunity for students to gain clarification on feedback if desired - Opportunities are provided for students to engage in assessment via marking activities, self test exercises etc. Group work is considered a valuable experience in the development of attributes valued by employers. The Faculty guidance is followed with respect to the limit of marks and the identification of individual contribution. In accounting/finance modules with group assessment, the tutors take advantage of the 8
international student profile and organise the students into groups that will assist the development of awareness and understanding of diversity. Brookes Attributes Academic literacy is a key attribute developed by the programme in terms of subject content and approaches to teaching and learning. Popular perceptions of Accounting and Finance may assume that numbers rather than words are dominant. However, the programme aims to create a well rounded accounting graduate who can not only prepare computations, analysis and other information in line with international accounting rules and conventions but who can articulate relevant concepts, and interpret and critique arguments. In each year such a balance is to be found in modules themselves but also in the combination of compulsory modules (eg in year 1 with Accounting in Society and Introduction to Accounting). Research literacy is addressed progressively. The design of the programme introduces students to critical reading of seminal work and critical writing from the outset and then builds on this with increasing complexity as their skills develop. There is formative feedback throughout and then tutor support for individual exploration by the final modules. Critical self-awareness and personal literacy is developed through the subject focus and the teaching approach of the programme. Individual coursework feedback is provided in class where tutors emphasise the importance of reflection and improvement. The strong vocational emphasis of the programme encourages a focus on attributes and professional skills vital for a career in accounting or finance. In the final year a specific assessment requires students to reflect on the development of their learning across the 3/4 years of study. Workshop style teaching requires students to work collaboratively in small groups on various activities. Digital and information literacy is a natural attribute for accounting and finance students to develop since study of the subject naturally revolves around information- its collection, organisation, analysis and communication. This information is now almost always located and provided electronically in accounting and spreadsheet software, databases and websites. Relevant reading is also increasingly available online and students have to source both academic and professional reading for module activities and assignments. A compulsory stage 1 module underpins the development of necessary skills. Computer Aided Learning (CAL) packages are used to provide a further learning resource supplementing in-class teaching. Active citizenship is embedded naturally in the topics the students are studying and through their studying these in a highly diverse cohort. Throughout the programme international financial accounting language, practice and rules are learned. The teaching of finance allows the students to develop an awareness of the global impact of events in financial markets. Management accounting provides information for strategic and operational decisions facing international organisations and the impact of such decisions. Thus global contexts and issues are addressed implicitly and explicitly. Where group work is an element of the learning and / or assessment of a module, intercultural groups are used. This requires the raising of awareness of different ways of working effectively and challenges students preconceptions of diversity. 5.2 Assessment regulations The programme conforms to the University s Academic Regulations; section B2 Undergraduate Modular Programme Regulations https://www.brookes.ac.uk/regulations/current/specific/b2/] 9
The Programme also embeds the principles and practices within the Brookes Assessment Compact. Assessments are carefully designed to contribute to formative developmental feedback and can incorporate peer feedback as well. All module guides include specific assessment criteria which are clearly communicated and an assessment calendar is also produced. http://www.brookes.ac.uk/aske/ documents/brookesassessmentcompact09.pdf SECTION 6: ADMISSIONS 6.1 Entry criteria Entry Requirements Typical offers A-level: BBB or equivalent IB Diploma: 31 points BTEC National Diploma: DDM AS-levels will be recognised in place of a maximum of one A-level (may include a 12 unit vocational A-level) Key skills are not required but would be a positive feature of an application, as would freestanding AS-levels such as Critical Thinking. Specific Entry Requirements GCSE: Mathematics (minimum grade B) and English (grade C or above) English Language Requirements If English is not your first language you should have IELTS 6.0 overall, with a 6.0 in reading and writing and 5.5 in listening ans speaking. SECTION 7: STUDENT SUPPORT AND GUIDANCE Induction An induction programme is provided before teaching begins in the first semester, providing the opportunity to meet fellow students outside the classroom situation. It also introduces the philosophy of the programme, the rationale for its design and delivery, and provides insight into what is expected of students. People A number of people are available to support, guide and assist personal development during the programme. The Programme Lead, Subject Coordinator and Programme Administrator work as a team to ensure the programme runs smoothly. The Module Leaders and Module Tutors provide academic tutoring and answer subject specific queries during modules. Each student is allocated an Academic Advisor from within the Department and is invited to regular and structured meetings throughout the programme to review progress and get help with academic development. The Student Support Coordinators can provide one-to-one support, advice and guidance on a range of issues, such as personal and family problems, disability or sickness, learning difficulties and money worries. They offer the opportunity to talk to someone who is not connected to academic studies and can refer students to other services available within the University, which include: Counselling, Student Disability and Dyslexia Service, Medical Centre, International Students Advisory Service, plus specific support for mature students. 10
Study skills support is provided by the University s Upgrade service, which provides bookable tutorials and a drop-in service on all campuses plus an online directory of study skills resources. English language support is also available. Programme and Module Guides Handbooks are provided for both the programme and for each module. The Module Guide provides: Contact details of the Module Leader and Tutors Specific content and learning outcomes Week by week topics and activities Details of required class preparation Recommended and required reading Coursework assessment including the task, learning outcomes, assessment criteria and deadlines. Work-placement and Careers Centre support The Work and Voluntary Experience Service (WAVES) supports sandwich-mode students in applying for and securing a work-placement. During the placement year itself students are supported by an assigned placement tutor who remains in regular contact with the student and their line manager and conducts at least one meeting at the student s place of work, WAVES also supports students in identifying volunteering or internship opportunities. The University Careers Service offers guidance on career planning as well as practical advice on CV writing, mock interviews and assessment centres, tutorials and careers counselling. Its online vacancies database Talent Bank details internship and graduate job opportunities plus volunteering and project work. SECTION 8: GRADUATE EMPLOYABILITY Many graduates from this programme choose to obtain a professional accounting qualification. They work full time and pursue their accounting studies with an accountancy firm, in industry or the public sector. Their chances of gaining such employment are increased greatly by taking a placement year or a one/two semester exchange so these are promoted regularly. In terms of other destinations, choices facilitated by this programme include: - Completion of professional exams through full time study followed by practical experience in the UK or internationally - Acceptance onto a postgraduate course in a related area (a special session is run to advise students on this option) - Joining a general graduate trainee scheme - Setting up a business. A number of students use their skills, knowledge and understanding to develop their family business, often internationally - Specialisation in an area that they have particularly enjoyed studying at undergraduate level, such as taxation, auditing or finance. 11
SECTION 9: LINKS WITH EMPLOYERS The programme benefits from links with a number of organisations and accounting professionals. - A number of accounting modules have links to accounting firms eg guest lectures from qualified accountants in Financial Accounting and Reporting (U50035) or a visit to the offices of a global firm of accountant/auditors in Auditing Theory (U50026). - In the Accounting for Communities: Engaging Students (ACES) project, second year accounting students are trained by a local firm of accountants to enable them to provide voluntary accounting services to local charities. - In the Accountants in Mentoring (AiM) programme, accounting professionals provide one to one mentoring to final year accounting students. - The professional bodies are keen to make visits to promote their route to training and to run sessions on employability and careers. - The placement year is strongly and regularly promoted even from the Open Day stage by the teaching team, and placement students are visited by accounting tutors. - A number of associates are recently retired from or still working in accounting careers. SECTION 10: QUALITY MANAGEMENT The reputation of the Faculty of Business is underpinned through programme accreditations received from the Association of MBAs; professional associations such as the Chartered Institute of Personnel and Development and the European Foundation for Management Development. The Business School is widely regarded as one of the best within its peer group. The Faculty of Business's programmes benefit from rigorous quality assurance procedures and regularly receive excellent feedback from external examiners, employers, students and professional bodies. Quality assurance of the Programme is addressed in a number of ways:- Subject Committee meetings held once a semester to enable staff and students to feedback on the programme A rigorous annual and periodic review process to ensure the currency of the programme An external examining process that follows the university guidelines - http://www.brookes.ac.uk/ asa/apqo/external-examining/handbook/role/ Systematic end of module and end of programme monitoring and evaluation 12