MSc Accounting and Finance - LSE

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Typically, students are employed in the fields of finance and accounting, strategic .... research training outlet by the ESRC; Professional accreditation by ACCA; ...
Programme Specification: MSc Accounting and Finance

|1. Awarding Body |LSE | |2. Details of accreditation by a|Recognised for individual | |professional/statutory body, |exemptions by the Association of| |e.g. ESRC; BPS etc |Chartered Certified Accountants | | |(‘ACCA’). | |3. Name of final award |MSc | |4. Programme Title |Accounting and Finance | |5. Duration of the course |Full-time 9 months; part-time 21| | |months | |6. Based in the |Department of Accounting | |Department/Institute: | | |7. Relevant QAA subject |N/A | |benchmark statements | | |8. Application Code |N4U1 | |9. First written/last amended |Nov 2001 / November 2012 |

|10. The programme aims to: | | | |Offer the following benefits: | |The opportunity to study in one of the most highly-rated | |Departments in the subject area in the world, both for its | |research and its institutional links; | |Exposure to world-class social scientists, business leaders, | |politicians, and modern thinkers who visit and/or teach at LSE; | |Research-led teaching in accounting and finance, bringing students| |to the forefront of practice and theory in their selected areas of| |study; | |A strong international and interdisciplinary orientation, covering| |conceptual and technical developments of major contemporary | |significance; | |Specialisation along alternative designated ‘pathways’ in finance,| |international accounting and finance, and accounting and financial| |management; | |Preparation for a variety of challenging careers in a range of | |countries. Typically, students are employed in the fields of | |finance and accounting, strategic consulting and/or general | |management. Many have gone on to achieve outstanding success in | |business, governmental and academic careers; | |Appropriate exemptions from professional accountancy and finance | |examinations. |

|11. Programme outcomes: knowledge and understanding; skills and | |other attributes | |Knowledge and understanding: Students may focus on international | |accounting and finance, accounting and financial management or | |finance in their choice of specialisation. At the end of the | |programme, students will have a thorough understanding of the key | |aspects of: | | | |Financial reporting in capital markets | |and/or | |Management accounting, strategy and organisational control | | | |plus will have selected from: | | | |a range of specialist courses in aspects of accounting and | |reporting, international accounting and finance, and advanced | |topics in theoretical and empirical finance, investment and | |financing decisions, market microstructure and intermediation, | |valuation and risk analysis, quantitative analysis methods, or | |other social science disciplines | | | |Subject specific skills: At the end of the programme, and to the | |appropriate extent indicated by their level of award, students | |should demonstrate: | |appropriate ability to communicate knowledge and understanding of | |several of the major contexts within which accounting operates | |(both outside and within organisations), based on a critical | |evaluation of related theoretical and conceptual frameworks and of| |empirical evidence as to its effects; | |appropriate ability to communicate knowledge and understanding of,| |and appropriate ability to use and critically evaluate, current | |and major alternative technical languages and practices of | |accounting, together with appropriate ability to apply them; | |appropriate ability to manipulate financial and other numerical | |data and appropriate understanding of and ability to apply | |mathematical and statistical concepts; | |appropriate ability to analyse business strategies and activities | |and perform relevant financial analyses and projections in | |appropriate contexts of planning, decision making and control; and| |to recognize the limitations of these techniques; | |appropriate ability to communicate knowledge and understanding of | |financial management, risk and the operation of financial markets,| |based on critical evaluation of theories and empirical evidence; | | | |Cognitive abilities and non-subject specific skills: At the end of| |the programme, students should be able to demonstrate: | |appropriate ability to evaluate arguments and evidence critically;| |appropriate ability to locate, extract, analyse, and draw reasoned| |conclusions from multiple sources—including electronic sources—of | |appropriate literature and relevant data; | |appropriate ability to acknowledge and reference sources; | |appropriate capacities for independent and self-managed learning; | |appropriate use of communications and information technology, such| |as spreadsheets, word-processing and on-line databases; | |appropriate communication skills such as ability to present | |quantitative and qualitative information, together with analysis, | |argument and commentary, in an appropriate form; | |ability to work in groups and other appropriate inter-personal | |skills, including oral and written presentation skills. | | | |Information relating to careers can be accessed here |

|12. Teaching, learning and assessment strategies to enable | |outcomes to be achieved and demonstrated | |Teaching and learning strategies: | |This programme provides research-led teaching which aims to bring | |students to the forefront of practice and theory in their selected| |areas of specialisation. The teaching is of an advanced nature and| |covers internationally significant conceptual and technical | |developments in accounting, finance and financial management. | |Students acquire their detailed knowledge and understanding of the| |course, and their subject specific skills, through a combination | |of lectures, problem classes and progression to guided independent| |study, reinforced by the opportunity to meet teachers and their | |supervisors one-to-one in office hours. | | | |Course reading lists include not only leading textbooks but | |references to current research literature and primary sources, | |including relevant examples from current practice, official and | |professional policy documents, websites and other electronic data | |sources. | | | |Academic teaching staff are leading researchers who give students | |an insight into current thinking and recent developments in their | |fields. Several teachers and supervisors are also | | | | | |involved in policy advice and formation and give students insights| |into real-world developments in accounting and finance and the | |forces that shape them. | | | |Professionals working in the field contribute as part-time | |lecturers and class teachers. | | | |Students have the opportunity to acquire hands-on experience of | |CIT as well as familiarity with electronic data sources and | |databases. | | | |Assessment strategies: | |Summative assessment of knowledge and understanding and of | |subject-specific skills is primarily by 3hr unseen examinations at| |the end of each year. For some options coursework project | |assessment amounts to 25%-40% of the final course grade. | | | |Formative assessment is through class assignments, including | |numerical and computer-based exercises, critical essays and | |commentaries, and individual and group presentations, for example | |on case studies and mini-projects or in ‘role-plays’. | | | |Cognitive and non-subject specific skills are developed in | |parallel with the development of—and through the same teaching and| |assessment structures that are designed to achieve the appropriate| |levels of—the knowledge and understanding and subject specific | |skills described above. | | | |Students are also encouraged to participate in the Departmental | |MSc annual residential weekend for staff and postgraduate students| |and in the activities of the Departmental MSc Society. |

|13. Programme structures and requirements, levels, modules and | |awards | |See further information on MSc Accounting and Finance |

Additional information

|14. Criteria for admission to the programme | | | |Entrants should usually have a good upper second class honours | |degree in accounting and finance or a related subject from a UK | |university, or have reached a similar standard in an overseas | |degree. Other qualifications, such as membership of a recognised | |accountancy body, will also be considered; | |A GMAT score in excess of 650 points is necessary for all | |applicants to the programme unless in possession of a UK degree; | |Non-English speakers: also have to meet the School’s standard | |requirement for English language for all graduate programmes - | |IELTS 6.5, TOEFL 603 in the paper test, 250 in the computer based | |test. |

|15. Indicators of quality | | | |Applications for places: 1487 for 178 places in 2012; | |RAE rating (2008): Business and Management Studies: 70% of | |research outputs graded at 3* or 4* and ranked in top 5 UK HEIs; | |The Department of Accounting is responsible for the management the| |Centre for Analysis of Risk and Regulation (‘CARR’); | |The academic staff include several professionally-qualified | |accountants who hold or have held senior positions in their | |professional bodies; | |A large proportion of the professors of accounting in the UK are | |former members of staff and/or former graduates of this programme.| |Current and former members of staff, and/or former students, have | |won nearly all the awards for ‘Distinguished academic of | | | | | |the year’ awarded by the British Accounting Association (‘BAA’); | |The Department is recognised as an FT+3 research training outlet | |by the ESRC | |Professional accreditation by ACCA; | |The LSE Careers Centre website provides data on career | |destinations of LSE graduates. |

|16. Methods for evaluating and improving the quality and standard | |of teaching and learning | | | |The Department’s quality evaluation procedures are coordinated | |through its Teaching Quality Enhancement Panel. Primary | |responsibility lies with individual course leaders, course | |lecturers, class teachers, and supervisors and their own | |self-evaluation is focussed primarily through the Department’s | |annual course reviews and peer-teaching observations, the course | |teaching survey (conducted by TQARO) and the School’s mentoring | |and staff appraisal processes. Other Departmental structures and | |processes include: | |ad hoc reviews such as the recent review of all our MSc degrees | |and the review of postgraduate finance courses, which has led to | |the designation of the different specialist pathways and a wider | |choice of half-unit modules in response to student demand; | |the annual Departmental Examination Sub-Board meetings and the | |External Examiners’ reports; | |the termly Departmental meeting; | |the responsibilities of the Programme Director for the MSc | |Accounting and Finance programmes and of the MSc Co-ordinating | |Committee; | |student feedback and consultation through the MSc Accounting | |staff-student committee (SSC). | | | |School quality assurance processes include: | | | |regular staff appraisal and review; | |improvements in teaching technique are effected by the Teaching | |and Learning Centre (TLC) through observations, advice and further| |training; | |induction programme and mentoring scheme for new members of staff;| |Staff/student liaison committee; | |centrally administered student satisfaction questionnaires by the | |Teaching Quality Assurance and Review Office; | |an improved system for ensuring that External Examiner’s | |comments/recommendations are fed through to Departments and acted | |upon; | |the School’s Teaching, Learning and Assessment Committee (TLAC) | |which regulates all aspects of teaching quality; | |annual monitoring of courses and periodic reviews every 3-5 years.| |The outcomes of the annual reviews are presented to TLAC; | |the School’s Undergraduate Studies Sub Committee and Graduate | |Studies Sub Committee which oversee all taught programmes and | |ensure that significant changes to programmes and courses pass | |through a sequence of formal stages to ensure that curricular | |changes are appropriate and compatible with other developments. |