Accounting and Finance with Placement Year BSc (Hons) (Single Honours)
2014 - 2015
Bachelor of Science (Single Honours)
Accounting and Finance with Placement Year
Accounting and Finance with Placement Year
University of Chester
University of Chester
Undergraduate Modular Programme
Full-time and Part-time
Classroom / Laboratory,
Annual - September
Business and Management
Business and Finance
Optimised exemptions/accreditation awarded at the discretion of the professional accounting bodies CIMA/ ACCA/ CIPFA/ ICAEW (not the University)
-for alignment see section 32 additional information
Friday 1st May 2009
To provide the capacity for the critical evaluation of arguments and evidence in the study of accounting and finance
To demonstrate an ability to analyse and draw reasoned conclusions concerning structured and to a more limited extent, unstructured problems from a given set of data and from data which must be acquired by the student
To demonstrate the ability to locate extract and analyse data from multiple sources , including acknowledgement and referencing of sources
To apply numerical skills, including the ability to manipulate financial and other numerical data and to appreciate statistical concepts at an appropriate level
To demonstrate application of skills in communication and information technology through acquiring, analysing and communicating information (including use of spreadsheets, standard statistical package, word processing and databases)
To present communication skills including the ability to present quantitative and qualitative information together with analysis, argument and commentary in a form appropriate to different intended audiences (including experience of group working and both oral and written presentation)
To place the academic study of accounting and finance within an applied management centred approach
To enable students to participate in a paid placement year- through which they can apply and further develop the theoretical knowledge gained on the programme.
To expand the capacity for independent and self managed learning by encouraging the knowledge, skills and attitudes to become life-long learners who recognise the need to engage in Continuous Personal and Professional Development; through a coherent programme of study in accounting and finance, which will prepare students for employment and or further study academically and /or professionally.
Knowledge and Understanding
a critical understanding and appreciation of the business contextin which accounting and finance operate including knowledge of the institutional framework necessary for understanding the role, operation and functions of markets and financial institutions
a critical understanding of the main current and alternative languages and practices of accounting in specified socio-economic domains
a developed application of ability to understand, appreciate, record and summarise transactions and other economic events, combined with preparation of financial statements and analysis of the operations of business
an ability to apply, theorise and test contemporary theory and empirical evidence in relation to accounting in varied contexts, linked with a knowledge of the relevance of major theoretical tools and theories of finance and application of these to theoretical and practical problems
an ability to test, analyse and interpret financial data arising from a variety of contexts using statistical and financial analysis including the behaviour of economies, organisations and individuals.
Thinking or Cognitive Skills
demonstrate an appreciation of the intellectual skillsrequired at each level of study by the QAA benchmarks and acceptance of responsibility for own learning and continuing professional development
independently research, investigate and assess accounting and finance specific facts, theories, paradigms, principles and concepts
critically assess and evaluate evidence and argument to reach considered view
critical interpretation of financial and non financial data to develop reasoned arguments and to challenge assumptions.
ability to locate, extract and manipulate financial and non financial data
ability to analyse, interpret, evaluate and communicate financial information to users
ability to apply of principles and techniques to formulate solutions to accounting and finance related problems
ability to apply accounting and finance related software to accounting and finance related issues
Application of Number
Information Literacy and Technology
Improving own learning and performance
Working with others
Communication - oral and in writing, using a range of media which are widely used in business, for example, the preparation and presentation of business reports
Application of Number - using appropriate quantitative and qualitative skills including identifying, formulating and solving business problems, including data analysis, interpretation and extrapolation
Information Literacy and Technology through use of appropriate information and communication technology - generic e.g. Word, databases and specific e.g. software accounting packages and spreadsheets
Improving own learning and performance - including self awareness, independence, the skills of reflective, adaptive and collaborative learning
Working with others - leadership, team building, project management skills, plus effective listening, negotiating, persuasion and presentation
Problem solving - the ability to create, evaluate and assess a range of options together with the capacity to apply ideas and knowledge to a range of situations and tasks/problems
Transferable Professional Skills
meeting the requirements of professional accounting bodies leading to the awarding of exemptions / accreditation of modules at the discretion of the professional bodies (not by the university)
The programme is designed as a balanced academic and vocationally orientated programme that aims to prepare students to become competent and knowledgeable in the fields of accounting and finance.
The aim of the programme is to provide students with the requisite academic, vocational and transferable skills, knowledge and understanding to seek careers in accounting and finance but also to support other career aspirations requiring developed numerical skills. The structure of the programme has been developed based upon the requirements of the professional accounting bodies and directly informed by the FHEQ descriptor for honours graduates and the QAA benchmarks in Accounting (2007) and Finance (2007). The structure of the single honours in Accounting and Finance offers a coherent programme within each year of study. This coherence is reinforced by progression between levels allowing the development of thematic strands between levels.
Construct of the programme also took cognisance of the latest syllabus developments and requirements of the professional accounting bodies to optimise exemptions from professional accounting bodies.
The programme is divided into three academic years with six modules (each worth 20 credits) in each year and a work placement year taken between years two and three of academic study.
The first year offers all core modules and does not assume any prior knowledge relevant to accounting and finance but will provide a strong underpinning for more detailed academic and technical studies in later years. Modules at year one will concentrate on building and consolidating knowledge and understanding of the fundamental principles of accounting and finance placed in the context of the UK business environment. The theoretical and conceptual underpinning of accounting and finance will play an essential part of this level of study. Thematically it is the specialist accounting subjects of Financial Accounting, Management Accounting and Management that form the core of study through this and subsequent years all years. In the first year this is represented by two core modules in financial and management accounting, which offer a grounding in accounting and finance supported by the incorporating of exposure to accounting packages and introduction to spreadsheets as part of the knowledge and skills development. Other modules at this level will include quantitative methods for finance, law and ethics, economics and the management of people and organisations. Skills will be embedded at all levels with particular focus on information technology to assist in the development of employability and professional attitudes to work.
The BSc (Hons) Accounting and Finance is particularly suited to students interested in careers in accounting and finance but will also appeal to students interested in numerically focused opportunities. This programme has been designed to provide students with a strong foundation in key aspects of accountancy. The structure of the single honours degree offers the introduction of key aspects in first year study coupled with thematic progression and development through the three years of study, addressing the fundamental structure of accounting and finance. The three core areas being identified as crucial for a degree in accounting and finance are financial accounting, management accounting and management.
The table below details the development of the core areas over the three years of academic study
BSc Hons Accounting and Finance development of core areas
The second year is comprised of core modules and will build upon the year one foundation and consolidate areas studied in the first year. Specifically modules in financial and management accounting will be expanded and developed. The modules studied in year two will reflect an operational theme- focusing upon the operationalisation of financial and management accounting (allowing development of IT spreadsheets skills). Other modules will address management issues including enterprise operations (incorporating operational management, information systems and the global business environment), human resource management and marketing to offer exposure to other major functional areas of organisations
Finally a module in work based learning for academic credit requiring exposure to the workplace is core to all students at the University at level 5, to provide an opportunity to transfer the theoretical to the practical context. These theoretical and practical modules are designed to address the FHEQ requirements that students develop a sound understanding of principle, are able to apply these principles and are able to evaluate the appropriateness of different approaches linked with a vocationally orientated experience.
Students choosing the four year programme will spend a year of study on a full time paid work placement. After completion of Level 5 students take the placement year, further developing the vocational, practical and experiential aspects of the taught modules from that level. The placement year provides the opportunity for students to acquire and develop transferable skills and to gain an insight into the running of an organisation. Students are supervised and formally monitored during their placement and construct a series of learning logs and a reflective portfolio to demonstrate the personal and professional development acquired during the placement. Students will be placed in a range of organisations. This is viewed as an extremely valuable activity, providing students with excellent opportunities to apply theory to practice, learn practical skills, network, enhance employment and careers prospects, and to further develop their understanding of theoretical input on return to the classroom.
The four year degree will again focus on development of both financial and management accounting in core modules. In Financial Accounting, on analytical elements and the evaluation and synthesis of knowledge and in Management Accounting on decision-making in these core modules. IT skills will continue to be expanded through use of spreadsheets and financial modelling. A third core module of Strategic Enterprise Management will offer the Management contextualisation.
Students also have the opportunity to do WB 5008 The Study Abroad Experience. This study abroad module offers a complementary study opportunity for students in additionto their University of Chester degree. It is an excellent opportunity to learn about the culture of another country whilst following an academic study programme that complements their home-based programme of study. This programme will offer the student the opportunity to add additional modules/courses/subjects to their Chester degree, and be compatible with the student's overall degree profile. Students will already have completed all the criteria for progression into Level 6 of the student's programme prior to embarking on WB 5008. The composition of a negotiated programme will be determined by the student's subject department(s); the International Tutor will monitor and formalize the process in a written Learning Agreement. This study abroad placement year includes study at a partner university, the International Student Exchange Programme and the J1 Central Michigan University/Disneyworld Florida placement. New opportunities will become available from time-to-time.
The final year of study will enable students to develop specific interests through specialisation. 20 credit option choices at this level will allow exploration of specialist areas such as auditing, taxation, corporate finance, business law, international finance and an opportunity to undertake a double weighted (40 credit) dissertation module as a major piece of autonomous work allowing focus upon an appropriate topic within accounting and finance.
By this level of study students will be able to demonstrate an understanding of the complex body of knowledge relating to accounting and finance, will have the ability to apply analytical techniques and problem solving skills and be able to evaluate evidence to reach sound judgements which can be communicated effectively.
This programme is available to anyone capable of reaching the required entry standards. The typical applicant will have a minimum of 260 UCAS points, of which 220 points must be obtained from GCE A2 Level or Vocational A Level (6 or 12 unit) awards, including a Grade C in one subject. The remaining points may be achieved from GCE A2/AS Level, Vocational A/AS Level awards, or from Level 3 certification. BTEC National Certificate/Diploma applicants will have a minimum of a Merit profile. Applicants will be expected to hold a GCSE Mathematics qualification at grade C or above. Irish and Scottish Highers: a minimum of BBCC 30 points for applicants studying on the International or European Baccalaureate. Applications will be considered on an individual basis.
Applications from non standard candidates from direct entry or overseas at levels 5 and 6 will be considered on the basis of individual merit, matching prior experience to course requirements. Such entrants would receive appropriate support from the programme team to assist in their studies.
The design of this programme was informed by the subject benchmark statements for Accounting (2007) and Finance (2007). The two relevant benchmarks were applied to clarify the scope of the new programme through definitions of the role of accounting and finance.
The definitions identified the nature and extent of finance as an activity being concerned with capital markets and the interaction between such markets and economic units. This leads to exploration of the design and operation of financial systems, structures and instruments that extend to understanding of financial asset pricing, issues of risk and value maximising behaviour. From the accounting benchmark the definition informed construction of the programme by addressing the design, operation and validation of accounting systems and their impact on individuals, organisations, markets and society. This benchmark also identified other areas to include requiring the provision and analysis of information for a variety of uses- decision-making, accountability, managerial, regulatory and resource allocation purposes. The perspective adopted in the creation of the programme aimed to incorporate some aspects of the behavioural, economic, political and sociological.
Additionally, the benchmarks have been applied to establish the cognitive abilities and generic skills required by a degree incorporating accounting and finance. The subject specific knowledge and skills identified by both benchmarks have also been incorporated into the construction of the programme.
The methods of learning and teaching are geared to progression and integration through the levels of the programme. The individual module descriptors provide details of learning outcomes as well as methods of teaching and learning. The major forms of teaching methods will be lectures, seminars and workshops with a strong emphasis on computer based skills and knowledge e.g accounting packages and spreadsheet application. Other methodologies will be employed as appropriate. These may include; field trips, visits, directed reading, interactive learning via the University computer network, case study analysis, individual research, group learning activities, debates, reflective log/portfolio (e.g. utilising student progress files in relation to personal development planning) and presentations. Industry practitioners will also be used wherever possible, as repositories of up to date, expert knowledge in their specialist or functional areas.
The Department seeks to deliver varied, high-quality learning experiences, teaching and assessment in order to develop appropriate knowledge and understanding, and to enhance a variety of key/transferable skills. This is facilitated through the outcome-directed nature of learning, teaching and assessment, in a student-centred environment, which provides incremental opportunities for independent and autonomous learning. The assessment strategy for this degree will serve three purposes:
To test the level of knowledge and skills acquired, measured against the specified learning outcomes and applied within the fields of accounting and finance
To provide the vehicle for modular integration throughout the programme
To promote teaching to learning, which will assist students in the achievement of academic goals and imbue them with skills and attitudes which will assist in life-long learning.
Assessment will follow the university model of a 4,000 word equivalency per module. Each module will be summatively assessed by a minimum of two assessments, with formative assessment also employed throughout. Student assessment will employ rigorous, objective testing to ensure that learning outcomes are met. Assessment tasks will grow in sophistication and complexity as a student progresses on the programme. For example:
at Level Four a student may be asked to describe, discuss, compare, and outline;
at Level Five a student may be asked to evaluate, analyse, justify, and differentiate;
at Level Six a student may be asked to criticise, synthesise, appraise, formulate.
However, it is expected that students will begin to use and develop critical skills from the beginning of the programme. Students will be assessed in a number of ways, including essays, industry-related reports, presentations, assessed seminars, reflective reports, examinations. The departmental assessment strategy has been created in accordance to the University's Teaching, Learning and Assessment strategy.
As a consequence of the desire to seek optimum exemptions/ accreditation to be awarded at the discretion of the professional accountancy bodies all modules to which exemption/ accreditation could be applied will carry a minimum 70% unseen examination as a part of the assessment strategy at all levels. The reaching of 70% will necessitate a three hour exam, which is in line directly with the examinations conducted by the professional bodies.
Students undertaking the BSc single honours route in Accounting and Finance will have the core knowledge and skills relating to financial and management accounting, placed within a management context which are crucial to the successful operation of all organisations, whether profit or non profit orientated. The significance of the need to study of accounting and finance has been demonstrated by the turmoil in the financial sector and the implications of this for all organisations on a local, national and global level. The demand can be expected to expand for knowledgeable and aware graduates with strong skills (numeric and non numeric) in all organisations. Students could choose to develop careers within the accounting professions (with professional accounting bodies offering at their discretion exemptions/ accreditation), in financially orientated organisations e.g. banking or financial services or to apply their skills and knowledge within more generic management roles.
It is anticipated that the programme will contribute to the University’s employability strategy by producing students with sound and well-articulated skills for the workplace and supplying suitably prepared graduates to meet the needs of the local, regional and national economy. This is particularly significant in the light of recent government reports emphasising vocationalism in higher education. The curriculum, through carefully planned modules, will respond to the needs of individual students seeking rewarding employment as well as employers seeking to employ graduates with relevant, generic, transferable and specialist skills.
In accordance with the QAA Framework for Higher Education Qualifications descriptor, typical holders of the BSc single honours Accounting and Finance should be able to:
apply the methods and techniques that they have learned to review, consolidate, extend and apply their knowledge and understanding
initiate and carry out projects; critically evaluate arguments, assumptions, abstract concepts and data (that may be incomplete), to make judgements
frame appropriate questions to achieve a solution - or identify a range of solutions - to a problem
communicate information, ideas, problems, and solutions to both specialist and non-specialist audiences
display qualities and transferable skills necessary for employment requiring the exercise of initiative and personal responsibility
disply decision-making in complex and unpredictable contexts
displaythe learning ability needed to undertake appropriate further training of a professional or equivalent nature.
Consistent with the University’s commitment to widen access and participation, the Department has a flexible admissions policy, and encourages applications from mature students and from groups normally under-represented in higher education. The general policy is to look for a good level of literacy, together with proven interest and/or experience in an appropriate subject. The Department has considerable experience in successfully addressing the practical and learning needs of a wide range of students. This includes mature students, those entering education with a non-standard academic background and those with a wide range of disabilities. Equality and diversity issues are embedded and addressed in all departmental modules.
This BSc programme in Accounting and Finance has been developed to facilitate progression for students into the accounting profession by creating modules which optimise exemptions from the examinations of the professional accounting bodies. Such exemptions being awarded at the discretion of these bodies not the University.
Formulation of the construct of this programme took cognisance of the accounting environment in England and Wales and the need to consider the long-term aspirations of students undertaking study in accounting and finance. The professional accounting bodies offer currency as they reflect the knowledge and skills required by individuals to operate in the fields of accounting and finance. The structure of the programmes has been designed to optimise exemptions awarded at the discretion of the four chartered accountancy bodies in England and Wales, specifically the Chartered Institute of Management accountants (CIMA), and also the Association of Chartered Certified Accountants (ACCA), the Institute of Charted Accountants of England and Wales (ICAEW) and the Chartered Institute of Public Finance and Accountancy (CIPFA).
The module structure of the programme has been aligned directly to the Chartered Institute of Management Accountants (CIMA) with the aim of exemption accreditation for five papers at level 4 (based on the five created core modules for this programme)- with a potential available award of a Certificate in Business accounting from CIMA. At level 5 exemption accreditation for three papers at the CIMA professional level will be sought - with a potential available award of a Diploma in Management Accounting from CIMA. Finally, at level 6 exemption accreditation for three papers at this CIMA professional level will be sought - with a potential available award of a Diploma in Advanced Management Accounting from CIMA. A mapping exercise showing individual module alignment with all four chartered accountancy bodies in England and Wales is shown in Table below.
BSc (Hons) Accounting and Finance module alignment to four chartered accountancy bodies in England and Wales
Management Accounting 1
C1Fundamentals of management accounting
Management Accounting (MA)
C2 Fundamentals of Financial Accounting
F3 Financial accounting
Financial Accounting (FA)
Quantitative Methods in Finance
C3 Fundamentals of Business Mathematics
Financial Mgt. Systems & Techniques (FMST)
C4 Fundamentals of Business economics
Law & Ethics
C5 Fundamentals of Ethics, Corporate Governance and Law
F4 Corporate and Business Law
Business & Finance / Law
Managing People and Organisations
Part E1 Enterpise Operations
F1 Accountant in Business
Business & Finance
Leadership & Management (L&M)
Management Accounting 2
P1 Performance Operations
F5 Performance Management
Financial Mgt. Systems & Techniques (FMST)
Financial Accounting 2 Financial Operations
F1 Financial Operations
F7 Financial Reporting
Financial Management/ Financial Reporting
Financial Reporting (FR)
Marketing for Managers
Human Resource management
F1 Accountant in Business
Leadership & Management (L&M)
Work Based Learning for Academic Credit
Management Accounting 3
P2 Performance Management
P3 Business Analysis
Accounting for decision making (ADM)
Financial Accounting 3 Financial Management
F2 Financial Management
F9 Financial Management /P2 Corporate reporting
Financial Management/ Financial Reporting
Financial and Performance Management (F&PR)
Strategic Enterprise management
E2 Enterprise Management
BU6006 Corporate Financial Management
BU6005 Law for Managers
F4 Corporate and Business Law
F8 Audit & Assurance
Assurance/ Audit & Assurance
Audit & Assurance (A &A)
Principles of Taxation / Taxation
The structure of the programme was also informed by the need for the academic aspirations of the programme to be matched with technical and vocational aspects. As a consequence specific modules at each level will incorporate development of IT skills linked directly to academic activity.
At level 4 in BU4007 Financial accounting 1 students will work with current accounting packages and in BU4010 Quantitative Methods in Finance will be introduced to spreadsheets. And at level 5 and level 6 in the Management Accounting modules BU5007 Management Accounting 2- Performance operations and BU6015 Management Accounting 3-Performance management IT skills will be further developed.
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