Salford Business School Finance and Accounting Undergraduate Programmes

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Stockport

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University of Salford

Information contained in this booklet is correct at time of publication – December 2010 FA8

Contents Programmes at a Glance ............................... 2 BSc (Hons) Finance & Accounting ................. 3 Teaching and Assessment ........................... 16 Reading List .................................................. 17 National Student Survey ............................. 19 Exemptions ................................................... 21 Graduate Destinations ................................ 23 Professional Placement Year ...................... 25 Sponsorship .................................................. 27 Student Profiles ........................................... 28 Entry Requirements ..................................... 31 Key Information ........................................... 34 Fees & Scholarships ..................................... 36 Key Facts and Figures I ................................ 38 Key Facts and Figures II ............................... 39

Programmes at a Glance Finance and Accounting

Salford Business School © 2010

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Programmes at a Glance

BSc (Hons) Finance & Accounting The BSc (Hons) Finance & Accounting programme provides a thorough knowledge and understanding of finance and accounting within a business and management context.

Graduates acquire theoretical and technical knowledge and skills to equip them for a financial career in a wide range of environments including:

î Industry î Public practice î Finance î Manufacturing î Banking î Commerce î Government î Public sector

In addition, graduates are equipped to train for a career in teaching or to embark on postgraduate study in finance, accounting, banking or business and management.

3 BSc (Hons) Finance & Accounting Finance and Accounting Salford Business School © 2010

BSc (Hons) Finance & Accounting

Programme Content

Year 1 This level provides a foundation in business-related disciplines. You will be introduced to Sage Accounting, Microsoft Word, Excel and PowerPoint and will develop these skills throughout the course.

î Principles of Accounting You will gain a theoretical and practical introduction to accounting that covers the fundamentals of accounting methods including the production of financial statements for decision takers within and without various types of organizations.

î Accounting Practice & Legal Aspects

You will appreciate the current issues in information technology, including the Data Protection Act, together with a theoretical and practical understanding of the process of developing and implementing an information system to support the activities of the accountant. You will also be introduced to the framework

BSc (Hons) Finance & Accounting Finance and Accounting


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of professional values, ethics and attitudes for exercising professional.

î Management Development Programme I

A module whose emphasis is on “learning by doing” and teamwork. You will develop essential business skills, including communication, problem-solving, research, working with others and essential computer skills (word processing, spreadsheet, presentations and the web). The module also introduces you to the main functions of a modern business enterprise.

î Organisations, Markets & Economy

This module develops your understanding of business organisations, their relationship to the market and the broader economic environment within which they operate. It provides a foundation for studies in Years 1 and 2 by developing an understanding of basic economic concepts and principles.

î Quantitative & Statistical Methods

You will learn about the range of economic and business data that aid decision-making and describe and analyse data using the relevant


software. You will receive an introduction to probability theory to enable you to understand the principles underlying the use of sampling in business contexts.

î People Management Your studies will combine psychology and sociology to develop an understanding of why and how people behave as they do. This module includes, for example, theories of learning, motivation, personality, politics and the state, work and industrial relations, and globalisation.

Year 2 The focus at this level is on accounting and related subjects. Business skills such as IT are further developed and you will be encouraged to develop your study skills.

î Quantitative & Statistical Analysis

The module aims:

1. To continue the work begun in the first year developing understanding of the fundamentals of statistical reasoning necessary to deal with numerical information in a sensible way;



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2. To illustrate in the statistical context the general scientific method for a structured approach to the analysis of problems;

3. To introduce techniques useful as tools for decision-making.

î Company Law

The module aims:

1. To build upon students’ prior legal knowledge and skills acquired in level 4 modules;

2. To enable students to acquire a sound knowledge of the legal framework relating to companies and their management;

3. To develop in students the capability to apply legal principles in the solution of business and management problems arising in a corporate context;

4. To inculcate an appreciation of the impact of policy and the wider business context on corporate legal developments

î Financial Accounting The module aims:

1. To enable students to develop their knowledge and understanding of advanced


financial accounting concepts and principles;

2. To enable students to apply their understanding by preparing and interpreting financial reports both in a UK and International context;

3. To develop students knowledge and understanding of the external audit process.

î Organisational Behaviour The module aims:

1. To provide a wide-ranging analysis and understanding of the behaviour of people at work;

2. To provide students with an understanding of the dynamics of work organisations through an inter-disciplinary behavioural sciences approach – drawing especially on the theories, concepts and methodologies of Psychology and Sociology – which views people and their attitudes, perceptions, learning capacities and goals, as well as the tensions and conflicts, as being of major importance;

3. To provide students with knowledge to help them understand the skills and activities that go with creating effective,



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productive and flexible work organisations.

î Regulatory & Economic Environment

The module aims to:

1. Provide an understanding of the business and economic environment for commercial organisations with particular emphasis on the shareholder reporting framework of accounting standards;

2. Discuss the differing influences on the development of financial reporting historically and internationally and the context within which the financial reporting framework operates;

3. Consider the international regulations for the published accounts of commercial organizations;

4. Explain the need to comply with the Professional Bodies ‘Codes of Ethics for Professional Accountants’;

5. Explain the importance of good corporate governance and the evolution of good practice.


î Financial & Management Information Systems

The module aims:

1. To further develop students’ knowledge of costing and financial management systems;

2. To enable students to select, describe and apply a variety of alternative costing techniques and management accounting techniques;

3. To further develop the students understanding of computer hardware and software in an accounting environment, including audit, and financial modeling;

4. To enable students to select, describe and apply a variety of operations management techniques.

Optional Professional Placement Year Please refer to Professional Placement Year on page 25 for details.

Final Year You can choose options according to your expertise and career choice. Your course tutor guides and supports you as you apply for employment or further study.



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î Business Finance

The module aims:

1. To enable students to understand that efficient financial management requires the existence of some standard objective or goal by which performance may be judged, the objective being - maximisation of shareholder wealth;

2. To provide students with a thorough understanding of the role of the Financial Manager within a company and also the external financial environment in which businesses operate;

3. To introduce students to the concept of risk management in business organisations;

4. To examine the investment, financing and asset management decisions of a business and their related risk/return tradeoffs;

5. To understand the theory and practice of mergers and take-overs.


î Business Decision Taking

The module aims:

1. To introduce students to the discipline of the analysis and design of information system from a managerial rather than a technical perspective. It gives students an insight into the problems besetting the process of creating and developing systems for control and reporting within a business environment, introducing them to the principal tools used and the major strategies adopted by organizations in their endeavours to adapt to an increasingly uncertain environment;

2. To allow students an understanding of the open systems and perspectives of organization theory, and to facilitate theoretical as well as practical insights into the discipline;

3. To allow students to gain advanced level of experience of an appropriate package, e.g. Microsoft Access/Excel, working in groups to develop an application program in order that theoretical aspects might be exemplified and better understood in relation to theory.



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î Management Accounting

The module aims:

1. To explore the nature and role of Management Accounting in the twenty first century;

2. To equip the student with a variety of approaches and techniques in the application of Management Accounting;

3. To examine and evaluate the validity and limitations of particular Management Accounting approaches or techniques within the context of their application.

î Advanced Financial Accounting & Accounting Theory

The module aims:

1. To enable students to further develop their knowledge and understanding of financial accounting concepts and principles;

2. To extend students’ ability to prepare, analyse, evaluate and report on company financial statements in a UK and International context.


Elective Modules Two modules must be taken – choose one from each of the groups; one of:

î Business Taxation

This module aims:

1. To introduce students to the nature and operation of core areas of taxation related to businesses and their employees;

2. To introduce students to taxation computations;

3. To demonstrate ability to consider taxation implications of business proposals.

î International Finance

This module aims:

1. To examine critically the rationale for international trade and investment;

2. To provide students with an understanding of the operations of foreign exchange markets and their significance to business;

3. To develop knowledge of and an ability to evaluate risk management in an international context;

4. To appreciate the history of foreign exchange markets and the



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international finance within the context of finance and economic theory.

And one of:

î Audit Framework

This module aims:

1. To develop knowledge and understanding of the audit process and its application in the context of the external regulatory framework This includes planning and risk assessment, evaluating internal controls, audit evidence, and a review of the financial statements;

2. To develop knowledge and understanding of the role of internal audit in providing assurance of the risk management and control framework of the organisation;

3. To provide students with an understanding of the nature, purpose and scope of assurance engagements, including the statutory audit, its regulatory environment, and introduces professional ethics relating to audit and assurance;


4. To enable students to develop their knowledge of internal audit, including the scope of internal audit as well as the differences between internal audit and external audit;

5. To enable students to develop their knowledge of reporting, including statutory audit reports, management reports, and internal audit reports.

î Financial Economics

This module aims:

1. To provide an understanding of the workings of financial markets and institutions;

2. To provide an insight into the basic principles of financial theory, focusing on the asset choice decision and the determination of asset prices.

Teaching and Assessment Finance and Accounting


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Teaching and Assessment Teaching is predominantly delivered via lectures and supported by tutorials, seminars, practical classes, case studies and projects.

Extensive use is made of computing facilities. All students have access to the university network.

The assessment process is largely by examination. However, coursework, group work and project based assignments play a significant role in assessing students’ knowledge.

17 Reading List Finance and Accounting Salford Business School © 2010

Reading List

Expected to Buy These are titles that students would be expected to buy in order to successfully complete their studies.

î Elliott, B. and Elliott J. (2006) Financial Accounting and Reporting, FT Prentice Hall.

î Drury C. (2005) Management and Cost Accounting, 6th Edition, Business Press, Thompson Learning.

î Wood F. (2007) Business Accounting: 1 & 2, Financial Times/ Prentice Hall; Course pack edition.

Core Texts These are titles that students would be expected to read in order to successfully complete their studies.

î Adams A (2003) Law for Business Students, 3rd Edition, Longman.

î Buchanan D. and Huczynski A. (2004) Organisational Behaviour, 5th Edition, Prentice Hall.

î Morris, C. (2000) Quantitative Approaches in Business Studies, 5th Edition, Pearson Education.

î Johnson G. and Scholes K. (2006) Exploring Corporate Strategy, FT Prentice Hall.

Reading List Finance and Accounting


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î Sloman J. (2003) Essentials of Economics, Financial Times/Prentice Hall.

Core Journals î Auditing î Accounting and Finance î British Accounting Review î Management Accounting î Corporate Finance

Further Reading Titles that supplement core reading.

î Taylor P. (2005) Consolidated Financial Reporting, Paul Chapman.

î Bocij, Paul et al; (2008) Business Information Systems: Technology, Development and Management for e-business, Financial Times/Prentice Hall.

î Watson D. and Head A. (2004) Corporate Finance Principles and Practice, 3rd Edition, Financial Times/Prentice Hall.

î Lymer, A. and Hancock, D. (2008) Taxation: Policy and Practice, 15th Edition, Thomson Learning.

î Cosserat G. (2004) Modern Auditing, 2nd Edition, John Wiley & Sons.

19 National Student Survey Finance and Accounting Salford Business School © 2010

National Student Survey

Each year all the undergraduate students in their final year of study complete a survey that gauges their impressions and opinions.

This information is gathered from the unistats.com website which provides detailed information about programmes in all UK Universities.

In 2008 there were 48 responses from a possible 64. The percentage figure indicates the number of respondents who agreed with the statement.

î Overall, I am satisfied with the quality of the

course. 90%

î Staff are good at explaining things. 96%

î Staff have made the subject interesting. 76%

î Staff are enthusiastic about what they are teaching. 91%

î The course is intellectually stimulating. 83%

î The criteria used in marking have been clear in advance.

80%

î Assessment arrangements and marking have been fair. 79%

î Feedback on my work has been prompt. 79%

î I have received detailed comments on my work. 77%

National Student Survey Finance and Accounting


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î Feedback on my work has helped me clarify things I did not understand. 66%

î I have received sufficient advice and support with my studies.

86%

î I have been able to contact staff when I needed to.

85%

î Good advice was available when I needed to make study choices.

86%

î The timetable works efficiently as far as my activities are concerned.

77%

î Any changes in the course or teaching have been communicated effectively. 88%

î The course is well organised and is running smoothly.

86%

î The library resources and services are good enough for my needs.

83%

î I have been able to access general IT resources when I needed to.

89%

î I have been able to access specialised equipment, facilities or room when I needed to.

84%

î The course has helped me present myself with confidence. 84%

î My communication skills have improved. 88%

î As a result of the course, I feel confident in tackling unfamiliar problems.

88%

21 Exemptions Finance and Accounting Salford Business School © 2010

Exemptions Do you want to become a qualified accountant? Did you know that to become a qualified accountant you normally need to gain a degree AND study for the examinations of one of the professional accounting bodies?

The BSc (Hons) Finance and Accounting degree at Salford offers successful graduates significant exemptions from the professional bodies’ examinations which other similar courses may not offer.

The degree has traditionally secured exemptions from the examinations of the following bodies:

Exemptions Finance and Accounting


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Professional Body Exemptions

Association of Chartered Certified Accountants (ACCA) î Fundamental Level (F1, F2, F3, F4,

F5, F6, F7, F8 and F9)

The Chartered Institute of Management Accountants (CIMA) î Certificate Level (C1, C2, C3, C4 and

C5) î Managerial Level (P1, P2, P4, P5

and P7)

The Chartered Institute of Public Finance & Accountancy (CIPFA) î Further details can be found on the

CIPFA website: www.cipfa.org.uk/

The Institute of Chartered Accountants in England & Wales (ICAEW) î Principles of Taxation î Business & Finance î Management Information î Accounting

23 Graduate Destinations Finance and Accounting Salford Business School © 2010

Graduate Destinations Graduates from this course are highly valued by employers. A degree in Finance and Accounting from Salford can lead to a career with some of the world’s leading companies and organisations. Recent destinations include training positions with Rolls-Royce PLC, Ernst & Young, Hurst & Co Chartered Accountants and KPMG.

2008 Employment Statistics % employed or in further study 90%

Top 6 profession types of those with a job, 6 months after graduation:

î Administrative occupations: Finance 40%

î Business and statistical professionals 25%

î Sales assistants and retail cashiers 10%

î Architects, town planners, surveyors 5%

î Sales and related associate professionals 5%

î Managers and proprietors in agriculture and services 5%

Graduate Destinations Finance and Accounting


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What were students doing 6 months after graduating?

î Working only 61% î Working & studying 18% î Studying only 11% î Assumed to be unemployed 9% î Other 2%

25 Professional Placement Year Finance and Accounting Salford Business School © 2010

Professional Placement Year On completion of Year 2 students on BSc (Hons) Finance & Accounting may choose to undertake either a paid placement or study year abroad.

Those who choose to study abroad will spend their academic year at one of our partner universities, enhancing their language skills and international business knowledge.

No fees are payable for a full year spent on a paid placement or study abroad.

Students undertaking a placement have the opportunity to undertake a one year paid placement with an external company or organisation. Credits from this year count towards the final classification of the degree. Students completing a placement significantly improve their employment prospects, with many going on to work with their former placement organisation. Typical salaries for the year are in the range £12,000 to £18,000.

Unlike the majority of universities, Salford does not charge undergraduate student any fees for this year. In the last 5 years over 85% of Salford Business School students

Professional Placement Year Finance and Accounting


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completing a placement year have secured a first or 2:1 (honours) degree classification.

Salford Business School and the University Careers Service provide information concerning placement opportunities, which students can then apply for on a competitive basis. The School provides an excellent level of support to students during the application and interview process as well as supporting students whilst they are on placement.

Since it is the employers who make the decision concerning the appointment of placement students the University cannot guarantee placements for any students. However, students who want to undertake a placement and are prepared to put the effort into preparing themselves and their CVs will generally find a placement opportunity.

For further information about placements please contact:

Chris Procter Placement Coordinator [email protected]

Carol Prestbury Placement Administrator [email protected]

27 Sponsorship Finance and Accounting Salford Business School © 2010

Sponsorship

First Year î CIPFA Prize for best performance in

Principles of Accounting î Thompson Jones Prize for best

Business Skills presentation

Second Year î ACCA Prizes for best second year

performance of home student and for overseas student

Third Year î Trippier Prize for best performance

in Advanced Financial Accounting and Accounting Theory

î Chadwick Chartered Accountants Prize for best performance in Business Taxation

î ACCA Prize for Paper F5 equivalent, best performance in Business Finance/Management Accounting (for Control) combined

Student Profiles Finance and Accounting


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Student Profiles

V. Cook, ICAEW Trainee “Choosing a university was a difficult task because there were so many important factors to look at and it was a decision that would affect my future.

“I was lucky as I had good A-Level grades and was able to select from most universities. However, as soon as I had visited Salford on the open day, I knew that it was where I wanted to study.

“I have never regretted my decision and I have thoroughly enjoyed my years here. The staff have provided great support in both my studies and in my search for a placement. The course has excellent ties with employers and through this I acquired a placement at BUPA.

“I have made some great friends here and the location is also ideal, close to Manchester for shopping trips and fantastic nights out!

“I graduated with first class honours and am now employed at KPMG, as a graduate trainee.”

29 Student Profiles Finance and Accounting Salford Business School © 2010

Stephen Gammon, ACA “I really enjoyed my time at Salford on the Finance and Accounting degree. I found the course interesting and stimulating and believe it provided excellent preparation for my training as a chartered accountant. The course blended both the theoretical and practical elements of finance and accounting and enabled me to obtain maximum exemptions from the ICAEW. The business skills developed as part of the course, such as presentation skills, played a significant part in my successful application for a graduate placement at KPMG. Overall, I would wholeheartedly recommend the course to anyone considering a career in finance and/or accounting.”

H. Ahmed, CIMA Qualified “I decided to study Finance and Accounting at Salford University because of the course content and because the course offered more exemptions from CIMA exams than any other university I was interested in.

“I chose not to seek an industrial placement as I wanted to give full concentration to my studies. As a result of the support and confidence that the course and tutors gave me, I graduated with first class honours and

Student Profiles Finance and Accounting


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obtained my current post within two months of graduating.

“I am currently working as a Graduate Finance Trainee with Network Rail, who are sponsoring me to complete my CIMA qualification.”

S. Morris, ACCA “I attended a number of open days when considering which university was best for me. I first considered Salford because it gave me the maximum exemptions from the professional accountancy examinations and it gave me the opportunity to undertake a placement.

“Once I had started the course I found the lecturers, tutors and support staff very helpful and the placement I obtained at Central Manchester and Manchester Children’s University Hospitals NHS Trust provided me with valuable experience in both financial and management accounting.

“I graduated with first class honours and decided to stay at Salford University for another year to complete the ACCA part three exams. I passed all five final papers at my first sitting resulting in me obtaining ACCA affiliate status one year after graduating.”

31 Entry Requirements Finance and Accounting Salford Business School © 2010

Entry Requirements î UCAS: 300 points (or 320 if

selecting the Professional Placement Year option)

î A Levels: typically BBB (or ABB with the placement year option)

î BTEC Nationals: Diploma - DDM î GCSE: English Language and

Mathematics at Grade C or above; î International Students should have

IELTS Band 6 or TOEFL 550

We welcome applications from mature students without formal entry qualifications but with relevant experience. These, and other appropriately experienced applicants will be considered in line with the University Accreditation of Prior Learning (APL) procedure

Mature students with relevant experience are welcome to apply, as are students on appropriate access courses.

Prior Study Prior study records the qualification or award that new students had before commencing their current award. Prior study for both postgraduate and undergraduate students is recorded together and as a result the

Entry Requirements Finance and Accounting


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information for ‘mature’ students must be considered with this in mind. Younger Students î A/AS levels/Highers or mixture

of level 3 qualifications 65%

î First degree or higher 7% î No qualifications

or unknown 7% î Foundation course

(HE or FE level) 2% î Other HE 1% î Other qualifications 19% Mature Students î First degree or higher 20% î No qualifications

or unknown 15% î Other HE 15% î Foundation course

(HE or FE level) 10% î A/AS levels/Highers or mixture

of level 3 qualifications 10% î ACCESS course 5% î Other qualifications 30%

33 Entry Requirements Finance and Accounting Salford Business School © 2010

Demographic Profile î Registered students 250 î Male : Female 56:44 î % Mature 25% î % Overseas 23%

Student breakdown information for all study levels:

î % Full time 77% î % Part time 23%

Student breakdown information for all study modes:

î % First degree 39% î % Other undergrad 19% î % Postgrad 42%

Key Information Finance and Accounting


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Key Information All applications to the University should be made through UCAS (Universities and Colleges Admissions Service).

î Institution code name: SALF î Institution code: SO3 î Campus code: there are no campus

codes at Salford; please leave blank

Students studying for an HND/Diploma of Higher Education in Accounting at Salford, or transferring from another University of Salford degree programme, should not apply via UCAS, but should contact Salford Business School directly.

UCAS Codes î Full-time 3 year programme: NN34 î Full-time 4 year programme

including a Professional Placement year: NN3K

Duration î 3 years full-time or î 4 years full-time with third year

spent on placement

For further details on how to apply you can refer to the UCAS website at: www.ucas.com/apply/index.html

35 Key Information Finance and Accounting Salford Business School © 2010

This programme commences in September each year. The start of the induction programme for students commencing in 2011 will be 19th September, 2011.

Contact Details

Programme Administrator Salford Business School University of Salford Greater Manchester M5 4WT United Kingdom

Tel: 0161 295 5581 E-mail: [email protected]

Meet the Staff The course team is multi-disciplinary, embracing specialists with a business and management background as well as professionally qualified accountants

î Kathy Spencer Programme Leader BSc (Hons) Finance & Accounting [email protected]

î Steve Angold Year Tutor [email protected]

Fees & Scholarships Finance and Accounting


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Fees & Scholarships

2011-12 î EU/UK students: £3375 î International students: £9410.

Students in receipt of the full HEMG of £2906 will also receive £320.

All figures quoted are to be confirmed and may vary slightly. There is a slight CPI-indexed rise in these fees each academic year.

Every UK/EU student (regardless of family income or maintenance grant) could receive a potential £1,000 each year of study:

Bursaries All bursaries other than the International Undergraduate Bursary apply to Home/EU students only.

Salford University Bursary If you are eligible for the full Higher Education Maintenance Grant, you will be entitled to the Salford University Bursary, worth £384 for the academic year.

You will be eligible for the full HEMG if your family income is £25,000 or less.

37 Fees & Scholarships Finance and Accounting Salford Business School © 2010

Vice Chancellor’s Scholarship Worth £1,000 in each year of your course if you achieve AAB at A Level (or equivalent). This award is subject to satisfactory progress.

Global Mobility Bursary Up to £1,000 for students who spend time abroad as part of their course. No tuition fees are charged for this period.

Salford University Community Bursary Worth £500 for each year of your course if you live in Salford (subject to postcode conditions).

International Undergraduate Bursary Up to £2000 to international students, paid in the first year of study only.

Key Facts and Figures I Finance and Accounting


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Key Facts and Figures I

University of Salford î Long heritage as an education

institution dating from before 1896

î Located 1½ miles from Manchester city centre

î Over 19,000 students who are part of the largest urban student population in Europe

î A multi-cultural population from over 120 countries

î Set on a green 40 acre riverside campus

î Friendly, caring and supportive learning environment

î £150m of investment in campus facilities over the next five years

î Some of the best value student accommodation in the United Kingdom

î Strong public transport links to Manchester, the North West and the rest of the UK

39 Key Facts and Figures II Finance and Accounting Salford Business School © 2010

Key Facts and Figures II

Salford Business School î One of the largest Business

Schools in the United Kingdom î 90% of our graduates go on to

employment or further study within six months of graduation

î Programmes are informed by business and industrial needs

î Emphasis on graduate outcomes include personal development and employability

î Strong teaching and research results evidenced by national indicators

î Established support services covering academic as well as general welfare issues

î Over 2000 undergraduates î Over 1200 postgraduates î 800 International students î 115 Academic staff î 50 Support staff

Documents

Salford Business School Finance and Accounting Undergraduate Programmes