BA (Hons) Accounting and Finance with People Management

Year 1 Core Modules

You must study and pass all five core modules

Brief description

Business Analytics is generally thought to comprise three broad categories: descriptive analytics, predictive analytics, and prescriptive analytics. You need no prior higher education experience in statistics.

Indicative content

• Descriptive statistics: Descriptive statistics to summarize data. Modifying data using Excel, measures of location, measures of variability, measures of association between two variables and data cleansing.
• Data visualisation: The most common forms of visualising data and when each form is appropriate. The human mind can process visual images such as charts much faster than it can interpret rows of numbers.
• Probability - modelling uncertainty: Basic relationships of probability, conditional probability, random variables and probability distributions.
• Descriptive data mining: Cluster analysis, association rules and text mining.
• Statistical inference: Sample selection, point estimation, sampling distributions, interval estimation, hypothesis tests.
• Simple linear regression: The least squares method and the fit of the model.
• Multiple linear regression: Extension of the simple linear regression model to incorporate multiple independent variables. Statistical inference in regressions, categorical independent variables, model fitting and prediction using regression models.
• Time series analysis and forecasting: Time series patterns, forecast accuracy, moving averages and using regression analysis for forecasting.

Brief description

Human resource management theory and practice.

Indicative content

• Introduction to HRM: Theoretical perspectives to HRM; practical approaches to HRM.
• Context and HRM: National, international, occupational, organisational and individual contexts of HRM in theory and in practice.
• Strategic HRM: Introduction to strategic human resource management; ‘best fit’ and ‘best practice’ approaches.
• HRM, work and wellbeing: Fair work; dignity at work; mental health and stress at work; the benefits and challenges of flexibility.
• HRM, equality and diversity: Inequalities in the labour market and in the workplace; managing diverse workforce.
• Managing conflict in the workplace: Conflict in the employment relationship; misbehaviour, discipline and grievance procedures; bullying and harassment; disputes.
• Contemporary HRM trends and future challenges: Continuity and change in work and employment; gig economy; (ir)responsible HRM.

Brief description

Techniques used in financial and management accounting.

Indicative content

• Basic financial accounting: Double-entry bookkeeping. Internal Control: errors - their prevention, detection and correction; accounting ledger systems, trial balance, suspense accounts and journals. 
• Incomplete records: Preparation of final accounts of a limited company from incomplete records, and prepare bank reconciliation statement. 
• Accounting for costs: Accounting for material: FIFO, LIFO, Weighted Average. Accounting for labour: labour costs, idle time, incentives and labour turnover. 
• Pricing methods and pricing decisions: Cost plus, target costing, price skimming, penetration pricing 
• Budgeting: The context of budgets. Approaches to budgeting. Interpreting and acting on budgets. Preparation of functional budgets from given data. Budgeting and performance analysis in not-for-profit organisations and the public sector 
• Taxation: The impact of taxation on companies, calculating corporation tax.
   

Brief description

The basics of management accounting in its role in shaping long term decisions, in planning and in control and presenting reports to management.

Indicative content

• Further issues in costing: Overhead allocation, apportionment and absorption; compilation of process costing statements and joint costing statements using FIFO and Weighted Average considering opening and closing stocks; throughput costing.
• Marginal costing: Cost-volume profit analysis for multi-product. Absorption and Marginal costing compared.
• Capital investment appraisal: Investment appraisal methods; Net Present Value, Payback, Internal Rate of Return and Accounting Rate of Return. Strengths and weaknesses of these methods. Sensitivity analysis applied to capital investment appraisal. 
• Working capital: The nature and importance of working capital. Management of working capital. Determining working capital needs. 
• Variance analysis: Calculation and interpretation of variances. Reconciliation of actual to planned performance by means of variances. Distinguish between planning and operational and operational variances. Role of MRP and ERP systems in supporting standard costing systems.Material mix and yield variances, sales mix and quantity variances.

Brief description

Regulatory frameworks that underpin the preparation of financial statements for different forms of business organisations. Partnership accounts and limited liability ompanies, general-purpose financial statement based on relevant standards issued by the IASB.

Indicative content

• Introduction to accounting and reporting frameworks: Accounting framework for a sole trader, a partnership and a limited liability company.
• Partnerships: Legal background. appropriations, admissions/retirements, dissolutions and conversion to a limited company.
• Financial statements for limited liability companies: Preparation and presentation of general purpose financial statements based on the provisions of relevant IASs/IFRSs issued by IASB.
• Accounting treatments for current assets (inventories IAS2, trade receivables)
• 5. Accounting treatments for non-current assets (tangible/intangible/impairment IAS36)
• Calculation and interpretation of accounting ratios and trends; Earnings per shareIAS33 limitations of ratios. 
• Prepare and report financial performance to address financial information users and stakeholder needs. 
• Financial Reporting and basic group accounting with associates IFRS3, IFRS10

You must study and pass one option module worh 20 credits or two option modules worth 10 credits each.

Brief description

The fundamental areas of civil law.and an understanding of the 'legal system' in general. 

Indicative content

• Legal systems: The nature of law; the distinction between civil and criminal law;sources of law; the structure of the courts; impact of EU law on Scots law.
• Contract: Nature and formation; essential features and validity; terms of the contract; breach of contract; extinction of contractual obligations.
• Delict: Nature of delict; culpa and negligence; strict and vicarious liability; Consumer Protection Act 1987; defences to an action in delict.
• Employment law and business organisations: Nature of employment and contractual relationship; unfair and wrongful dismissal; health and safety in the workplace. Business Organisations and legal framework - Law of Agency, Partnerships and Company law.

Brief description

The tools and techniques associated with managing projects. You will carry out an investigation into a project failure and recommend alternative actions which could have been taken.

Indicative content

• Project management and project teams: Interpreting project specifications and objectives, and the requirements of project stakeholders; Key project challenges for individuals and groups: reviewing the key priorities of time and project management; Understanding the role of a project leader; Understanding team work and how effective teams function; Creating and contributing to effective project teams; Managing teams through project delivery; maintaining goal focus, and managing problems.
• Project analysis and planning: Analysing project requirements and sub-tasks; Estimating timelines; deadlines and milestones and activity durations; Constructing a project schedule; Resourcing projects; Allocating and smoothing resources; Using Gantt charts to allocate and monitor resource allocation; Project management tools; Using project management software.
• Managing projects: Dealing with project risk; Evaluating the probability and potential impact of risk; contingency planning for risk management; project tracking and revision to completion; Evaluating project delivery and management: Analysing the effectiveness of project management processes and the impact of project delivery and non-delivery.
• Project management methodologies: Understanding the use of project management methodologies such as Prince2 and SCRUM; their benefits and challenges; adjusting your methodology to the size of the project.

Brief description

Develop a range of skills, knowledge and techniques within the natural, technological and social sciences that are relevant to the study of environmental sustainability and concurrently, life in the twenty-first century. 

Indicative content

• The Challenge of Sustainable Development: Problems associated with life in the 21st Century and the relationship to scientific provisionalism and uncertainty are discussed.
• The Genesis of Sustainable Development Concept: Developments associated with the Club of Rome are outlined while Limits to Growth and the Tragedy of the Commons are discussed.
• Evolution of Sustainable Development: The Reo Summit and Suitability, and Policy Developments thereof will be discussed.
• Mainstreaming Sustainability: Sustainability and Mitigation, Adaptation and Resilience, as individual and social concerns, will be evaluated. And their role in transformation will be discussed.
• Communicating Sustainability: Human well-being, Environmental Justice, Environmental Policy and the practicalities of Sustainability in Scotland are discussed.
• Sustainable Development in Practice: Community Empowerment associated with Land Reform. Energy Production and Food Production in Tayside..
• Ethics and Sustainability Policy: Active citizenship and Globalisation.
• Innovating Locally, Transforming Globally: Transformations that are required to embrace Sustainability.
• Active Relationship for Sustainable Futures: Thinking Globally, acting locally.

Brief description

Social, managerial, economic, political and technical challenges and opportunities associated with emerging renewable energy innovation, production, supply and consumption.

Indicative content

• Renewable Energy Nontechnical Challenges and Opportunities: Social and political challenges and opportunities of renewable energy production supply and consumption. Economic and environmental challenges of renewable energy production supply and consumption. Strategic and managerial challenges of renewable energy production supply and consumption.
• Renewable Energy Technological Challenges and Opportunities:. Geotechnical and Geophysical information. Technical limitations and challenges of energy distribution systems and energy storage. Current technological development trend, collaborative innovation in renewable energy.

Brief description

Introduction to tax.

Indicative content

• Introduction to taxation: General introduction to UK tax system; Administration of tax system; Tax evasion; Tax avoidance; HMRC Charter; Introduction to Income tax.
• Sources of income: Basis of assessment and allowable expenditure; Capital expenditure; Personal allowances and reliefs; Income and losses arising from property; Employee’s liability for National Insurance contributions.
• Income from employment: Basis of assessment; Employment income; Non-taxable employment income; Deductible expenses; Administration of the Pay As you Earn (PAYE) system; Benefit-in-kind.
• Income from self-employment: The calculation of trading profits; Disallowed and allowable expenditure; Trading income allowance ; Basis periods for trading income; Commencement of trade; Cessation of trade; Change of accounting date; Capital allowances; Trading losses and relief; partnerships.

Brief description

Skills and knowledge required to manage the finance of an event.

Indicative content

• Sources of funding: Determining where funding will come from for your event; funding policies; funding applications to external sponsors; convincing sponsors of the benefits of funding your event.
• Budgeting and breakeven: Understanding the types of costs involved in the project;  Preparing a simple budget and analysing a complex (pre-prepared) budget; Creating a break-even analysis.
• Controlling finances: Pre-event controls, operational controls, post control mechanisms.

Brief description

The importance of digital technology in the marketing function in today’s organisation. 

Indicative content: 

• Introduction to digital marketing: Discussing the impact of digital transformation on the marketing function. Creating digital strategies that are integrated within the wider marketing strategy and support the organisational goals and objectives.
• Understanding the digital marketing environment: Examining the internal and external facets of the digital environment that the company operates within including competitors, the digital consumer and the wider digital landscape.
• The planning process: Exploring the models and methods of planning your digital strategies based on audit data, social listening and company objectives. 
• Media and tools planning : Selecting the appropriate tools and media to use to support the implementation of the digital marketing strategy.

Year 3 Core Modules

You must study and pass all five core modules

Brief description

The use of management accounting for management control and advanced numerical techniques in decision-making.

Indicative content:

• Control: Divisional performance appraisal. Transfer pricing. Aspects of modern management practice and accounting issues within different sectors (including social enterprise). Business Plans and management reports. Life-cycle costing.
• Decision analysis: An introduction to Activity Based Costing and Activity Based Management. Decisions under uncertainty, including decision trees and the value of information.
• Strategic management accounting techniques: Value Management: value chain analysis, economic value added. The use of strategic management accounting techniques within an organisation: target costing, linear programming, Learning Curve and Experience Curve and Regression analysis and cost estimation and other forecasting techniques. Performance analysis in NPF organisations and the public sector.

Brief description

Introduction to corporate finance. Gain knowledge of the main sources of corporate finance and the ability to apply key techniques to use and manage finance in large and small organisations.

Indicative content:

• Time value of money: Future Value and Present Value; Annuities and Perpetuities; Quotes rates, Effective Annual Rate and Annual Percentage Rate.
• Bond valuation: Bond Pricing; Bond Ratings; Interest Rate Risk; Determination of Bond Yields.
• Equity valuation: Ordinary and Preference Shares; Cash Flow Valuation.
• Capital budgeting: Net Present Value, Payback Rule and Other Investment Criteria; Pro forma Financial Statements; Special Cases of Discounted Cash Flow; Scenario Analysis; Sensitivity Analysis; Break-Even Analysis.
• Risk and return: Expected Returns and Variances; Systemic and Unsystematic Risk; Diversification and Portfolio Risk; Systemic Risk and Beta; the Security Market Line and CAPM.
• Cost of capital: The Cost of Equity; the Cost of Debt and Preference Shares; the Weighted Average Cost of Capital.
• Financial leverage and capital structure policy: The effect of Financial Leverage; Capital Structure and the Cost of Equity; Modigliani & Miller Propositions and the value of the firm; Optimal Capital Structure; the Pecking-Order Theory.
• Dividends and pay-out policy: Cash Dividends and Dividend Payments; Does Dividend Policy Matter? Low vs. High-Dividend Pay-out; Shares Repurchases.
• Short-term financial planning and management: Reasons for holding Cash; Understanding Float; Investing Idle Cash; Determining the Target Cash Balance; Optimal Credit Policy; Inventory Management.

Brief description

The effective mobilisation of a workforce and how organisations can only function if they are able to assemble together individuals and teams of people with the necessary skills, attitudes and experience to meet their objectives. 

Indicative content

• Introduction - The theoretical background: Employment Markets and Regulations. Resourcing Strategy. The Future of Work. Fairness and Diversity.
• The context of employee resourcing: Introduction; people and work; Global employment markets and regulation. The Fu.ture of work. Fairness and Diversity 
• Human resource/Talent planning: The meaning, purpose and importance of long and short term talent planning and succession planning; building long term organisational performance.
• Job analysis - producing a job description: The meaning and importance of job analysis and role analysis; methods of conducting a job and role analysis and competency framework; job descriptions; person specifications.
• Recruitment - attracting the right people: The recruitment process: defining requirements; attracting applicants; sending and receiving information; making contacts. Recruitment methods: Advertising; the use of the internet and social media; Application forms and CVs; Internal and external recruitment.
• Selection - choosing the right people: The selection process; sifting applications; shortlisting candidates; interviewing and other methods; Making an offer.
• Employee retention: Employer branding; Induction; Talent management strategies.
• The management of retirement, redundancy and dismissal practices: Retirement. Dismissals. Redundancy.

Brief description

The application of financial accounting theory and practice to current issues in accounting, and the development of international financial accounting theory and practice.

Indicative content:

• Statements of cash flows IAS7: Preparation of statements of cash flows. Cash and cash equivalents; classification of cash flows by activities, Indirect and direct methods. The Interests, dividends and taxes on cash flows. Working capital changes and cash flows.
• Accounting for groups: The conceptual basis of accounting for the investment of one entity in another entity; preparation of group accounts including inter- company balances, unrealised profit on inter-company sales and acquisitions during the year.
• Accounting treatments under IAS and IFRS: Provisions IAS37, post balance sheet events IAS10 Leases, IAS17, IFRS16 Financial instruments. IAS32, IAS39, IFRS7, IFRS9.

Brief description

How the complexities, dynamics and uncertainties of the contemporary business environment impacts on the organisation of work and the contemporary employment relationship. .

Indicative content:

• The future working context: The changing context of work, post bureaucratic society, Millennial, and high performance work contexts.
• The new employment relationship and new forms of control: Flexible work and the precariat, The changing nature of capital - emotional and aesthetic labour; The psychological contract.
• Conflict in the workplace: The changing nature of power and politics in organisational decision-making and management practice. The changing nature of contemporary employee relations; organisational misbehaviour and counter-productive work behaviours. 
• Human capital development: The learning organisation and organisational learning, technology mediated work processes, talent sourcing and human capability and knowledge management; career planning and development, rewards and recognition.
• Outcomes: Learning from high performance organisations; Engaging employees, employee engagement and discretionary effort; building organisational resilience.

Year 3 Option Modules

You must study and pass one option module of your chossing.

Brief description

Introduction to financial markets and institutions. The role, functions and tools of the financial services industry in the context of both domestic economies and the world economy and international trade.

Indicative content:

• Money and the financial system: The Six Parts of the Financial System; What is Money and How Can We Measure It? The Payment System.
• Bond markets and interests rates: The Bond Market and the Determination of Interests Rates; Ratings and the Risk Structure of Interests Rates; The Yield Curve; Theories of the Term Structure of Interests Rates.
• Stock markets and derivatives: The Essential Characteristics of Common Stock; Measuring the Level of the Stock Market; Investing in Stocks for the Long Run; What are Derivatives?; Forwards and Futures; Options; Swaps.
• Financial institutions: The Role of Financial Intermediaries; Information Asymmetries and Information Costs; Bank Management; Bank Risk: Where it comes from and what to do about it?
• Central banking and monetary policy: Understanding the Central Bank's Balance Sheet; Monetary Base; the Money Multiplier and Money Supply; Monetary Policy; Unconventional Monetary Policy Tools.
• Regulation and financial crises: The Need for Regulating the Financial System; The Government Safety Net; Regulation and Supervision of the Financial System; Financial Crises.
• Foreign exchange: Exchange Rates Determination and Foreign Exchange Markets.
• Current topics on financial markets and institutions: The Euro Debate; Socially Responsible Investment; Islamic Finance; Microcredit.

Brief description

Spend a specified time in a business environment working in an area related to your programme.

Indicative content:

• Placement preparation: Placement workshops (max 3 x 1 hour) to prepare for the placement, including CV preparation. Discuss placement options with placement tutor.
• Placement briefing: Responsibilities of all parties involved; expectations; professional conduct.
• Experiential learning: Supervised placement carried out 1 day per week for 10 weeks (preferred structure) or 10-day block; feedback; employer assessment, student reflection on performance while on placement.
• Placement check: Discussions between the placement tutor, student and employer to ensure satisfactory progress is being made.
• Placement presentation: Poster presentation on your placement learning and employability skills development, and on learning through experience to peers and employers.
• Business investigation/Business project: Research within the placement organisation, a business/management issue, or participate in a workplace project and report on the findings/outcomes.

Brief description

The challenges facing contemporary business organisations in an operating context in which they are expected not only to demonstrate an economic contribution and shareholder value, but increasingly, to do so in a manner that reflects the interests of a range of stakeholder groups and being sustainable.

Indicative Content

• The changing context of business: The changing nature of organisations: from industrial to post-industrial society; globalisation structures, processes and arguments; 
• Sustainable business practice: Corporate social responsibility and The Business and Society Relationship; Corporate Citizenship: Social Responsibility, Responsiveness, and Business Performance 
• Employee well being at work: Employees as stakeholders: issues relating to privacy, safety and employee well-being 
• The role of third sector organisations; Social and economic exclusion and business; understanding the conditions of inequality and social exclusion; factors influencing social mobility, The social contribution of third sector organisations
• Corporate social responsibility:  Public Policy and governance: public and third sector 

Brief description

The skills and knowledge needed to launch a small business successfully. Acquire the personal and professional skills needed in order to develop a professional career and/or to succeed as entrepreneurs in Small and Medium sized Enterprises (SMEs).

Indicative content

• An introduction to entrepreneurship and an analysis of the skills and qualities associated with successful entrepreneurs.
• Generating successful business ideas.
• Environmental scanning.
• Developing a credible business plan that includes evaluating business ideas. Assessing risk and uncertainty; identifying potential customers, markets and market segments; assessing operations, USP and competition; price vs quality and profits.
• Presenting the business idea.

Year 4 Core Modules

You must study and pass all five core modules

Brief description

Financial accounting in the context of international business and the financial reporting and accounting complications caused by multinational business activities. 

Module content: 

• International financial reporting and harmonisation: Drivers for international financial reporting; accounting as an international language of business; general financial reporting models; the process of harmonisation and the theory of international disclosure.
• The concept of valuation in accounting: Income measurement and capital maintenance; Income measurement under the conditions of certainty and uncertainty.
• Accounting for changing prices: Criticism against historical cost accounting; current purchasing power accounting; replacement cost accounting; realisable value accounting and current value accounting; fair value measurement and IFRS 13.
• Accounting treatments for Government Grants.
• Accounting treatments for pensions and foreign currency transactions.

Brief description

Corporate finance issues. Develop the ability to critically evaluate and synthesise issues in the control and decision- making process of multinational corporations.

Indicative content

• The international financial environment: Overview of the MNC and the environment in which it operates (Goals of the MNC, international flow of funds, international financial markets).
• Exchange rates: Factors that affect exchange rates (Determination of exchange rates, links between inflation, exchange rates and interest rates). 
• Managing exchange rate risk: Functions involved in managing exposure to exchange rate risk (measuring exposure to exchange rate movements, hedging that exposure). 
• Management of long-term assets and liabilities: How MNCs manage long-term assets and liabilities (information needs, capital budgeting, cost of capital, country risk, long-term financing decisions, international portfolio investment). 
• MNC portfolio investment: Domestic and international investment in real projects and financial investments.

Brief description

Overview of employee relations theory, practice and processes. It combines a theoretical approach to knowledge development in an applied and practitioner-oriented fashion. 

Indicative content

• The changing nature of employee relations: From industrial to employee relations; Employee relations theoretical explanations; Employee relations and the global economy; Employee Relations – parties their roles and functions,
• Employee relations in context: Local, National and International dimensions of employee relations; Trade unions, employer organisations and their role in employee relations; Employee relations and the law.
• The employment relationship: HRM and employee relations – learning from practice; Perspectives on power in employee relations; Partnership approaches to workplace relations; Organisational processes and the design and implementation of employment relations,
• Employee engagement: History of engagement; Definitions; HR approaches to employee engagement; enablers; Communication within employee relations and employee engagement and the role of ‘voice’.
• Employee relations and engagement: Learning from practice. HR practitioners (public-private), CiPD and TU.

Brief description

Undertake practical research in response to a current business need of a real company and produce a suitable management report with recommendations.

Indicative content

• Analysing a problem: Using different analysis techniques such as data flow diagrams, entity relationship modelling and process mapping, examine problems to better understand the current position of the business.
• Innovation and innovation techniques: Using different creativity and innovation tools to help find solutions to business problems.
• Innovation for global growth (IGG): Work with multiple organisations - public, private and third sector, on a challenge they currently face. This will provide a scoping opportunity for the problem and a chance to test possible solutions. Prior to this event take part in discussions on professional behaviour and communication.
• Developing and presenting the solution: Take the solutions identified during IGG and further investigate their suitability. Develop one or more solutions to provide an implementation plan for the organisation.

Brief description

The strategic aspects of HRM and how the subject relates to other management functions in the delivery of organisational objectives. Aspects of HRM within the context of organisations' globalised operations.

Indicative content:

• Theoretical approaches to the study of HRM: Problems and controversies. An integrative and international perspective.
• Business strategy and strategic decision making: Strategic implementation and HRM. The relationship between managing people and other key business functions.
• Employee resourcing: Strategic aspects of resourcing an organisation; Human Resource Planning; Strategic approaches to recruitment and selection; Selection methods and techniques.
• Strategies for human resource development: Performance appraisal and performance management; Models and approaches to employee development; The national and international context; Management development approaches and methods.
• Strategic reward systems: Financial and non-financial elements; strategic approaches to reward management.
• Employee relations: Strategic aspects of employee relations; trade unions and collective bargaining; employee voice; industrial action and the settlement of industrial disputes.

Year 4 Option Modules

You must study and pass one option module of your choosing.

Brief description

The essential components of modern corporate finance, equity investment and ethical and professional standards.

Indicative content

• Capital budgeting: Investment appraisal methods, strengths and weaknesses of these methods, cash flow projections, project analysis and evaluation, sensitivity analysis.
• Capital structure: MM propositions without taxes and with taxes, agency theory and agency costs, pecking order theory, trade-off theory, market timing theory etc., practical issues in capital structure policy.
• Working capital management: Inventories management, accounts receivable management, accounts payable management, cash management, treasury management, working capital funding strategies.
• Corporate governance: Definitions, agency theory, conflict between managers and shareholders, conflict between majority shareholders and minority shareholders, a variety of governance mechanisms, such as ownership structure, board of directors, executive compensation, corporate control market, and shareholder activism etc., corporate governance codes around the world.
• Portfolio management and cost of capital: Capital allocation line (CAL), capital market line (CML), security market line (SML), the beta coefficient, the market risk premium, and the Sharpe ratio, WACC, CAPM, APT, Fama & French three-factor model.
• Market efficiency and equity valuation: Weak market efficiency, semi-strong market efficiency, strong market efficiency, behavioural finance, discounted dividend valuation, free cash flow valuation, market-based valuation, residual income valuation, private company valuation, applications and processes of equity valuation.
• Ethics and professional conduct: Components of the Code of Ethics and Standards of Professional Conduct, responsibilities required by the Code and Standards, practices and procedure designed to prevent violations of the Code of Ethics and Standards of Professional Conduct, CFA research objectivity standards.

Brief description

Audit theory, concepts and practices.

Indicative content

• Audit theory: The postulates of auditing and the enduring principles of auditing. Agency theory and auditing. The nature and value (usefulness) of key accounting information. Internal and External users.
• Legal and professional considerations: Rules of professional conduct (independence etc.). Quality control and process monitoring. Companies Acts - Legal status of an audit; auditor appointment, resignation and removal; auditor rights, duties and remuneration; professional responsibility and liability. 
• Current issues: The auditor's responsibility for discovering fraud and error; Quality control and monitoring; Corporate Governance; Limiting the auditor's liability; Non- audit engagements undertaken by the auditor. 
• Risk based auditing: Business risk and its impact on audit risk; Analytical procedures; Understanding the industry; Audit planning. 
• Audit objectives: Testing controls; Balance sheet assertions; Types of tests; Types of evidence; Sufficiency and reliability of evidence. 
• The audit process: Specific balance sheet items and related profit and loss account cycles. Audit completion procedures - events after the balance sheet date, contingencies, management representations and the overall review of financial statements. 
• The audit process: Characteristics of information systems and control over systems reliability. Use of the computer as an audit tool. Applying Computer Assisted Audit Techniques (CAATs). Introduction to group and specialised audits (e.g. Financial services). 
• Reporting and completion: Reports to management. Statutory audit reports. Special reports.    

Brief description

The analytical tools to make sound investment decisions. 

Module content:

• The investment environment: The risk-return trade-off and the efficient pricing of financial assets are central to the investments process. The role of financial markets and their degree of efficiency is an important factor to support investors.
• Fixed-income securities: Debt securities are often called fixed-income securities because they promise either a fixed stream of income or one that is determined according to a specified formula. These securities have the advantage of being relatively easy to understand because the payment formulas are specified in advance and there is no uncertainty about the size and time of their payments.
• Equity valuation: The price of a stock depends on the dividend and earnings that can be expected from the firm. In analysing a firm’s prospects, it often makes sense to start with the broad economic environment, examining the state of the aggregate economy and even the international economy. This analysis combined with the appropriate equity valuation model provides the guidance to the investor to operate in financial markets.
• Portfolio theory and practice: Introduction to Risk, Return and the Historical Record. Risk Aversion and Capital Allocation to Risky Assets. Optimal Risky Portfolios.
• Options, futures and other derivatives: Introduction to Option Markets. Option Valuation. Futures Markets. Futures, Swaps and Risk Management.
• Behavioural finance and technical analysis: Understanding the behavioural critique. Technical Analysis and Behavioural Finance.

Brief description

The challenges of managing in complex international business environments.

Indicative content:

• Introduction - The theoretical background: Globalisation and international business; Analysis of international external business environment; political factors; economical factors; social factors; technological factors and implications for international managers; International trade theories and practices.
• International business strategies: Strategy and international business; Country evaluation and selection; Export and Import strategies; Direct investments and collaborative strategies.
• International and cross-cultural management: International Dimensions of Culture: Understanding various dimensions of culture; Hofstede's (1980) National Culture Approach and Trompenaars (1993) Cultural Dimensions. Implications for International Managers. managing employee relations in multiple contexts. 
• Managing in international contexts: Culture and negotiations: Understanding the relationship between culture and negotiations; how to reconcile possible conflicts regarding differences in culture and negotiations. 
• Contemporary issues in managing international business: Managing international work assignments, Understanding the implications of CSR on MNE decision making.