BSc Accounting & Finance

About Course

Course summary

This degree is a professionally-orientated qualification which gives you a firm foundation in the theories and practices of finance and accounting. It will equip you with an understanding of the regulatory framework which governs modern accountancy. Our course will allow you to take significant steps towards becoming a qualified accountant, as well as developing skills essential for all kinds of business careers.

What you will study

You’ll explore the core elements of accounting and finance in detail, through modules on financial accounting, management accounting, auditing, taxation, corporate finance and financial risk.

This blend of specific accounting and finance modules, with a wider understanding of business, gives you both a strong theoretical foundation in the subject and an appreciation of how accounting and finance theory is applied in business practice.

After laying the foundations in your first year, in your second year you will start to specialise, and in your final year, you will be able to tailor your degree to match your interests and career ambitions.

Course structure

The academic year is divided into two semesters of 15 weeks each. Each semester consists of a period of teaching, revision/directed learning and assessment.

The structure of our programmes follow clear educational aims that are tailored to each programme. These are all outlined in the programme specifications which include further details such as the learning outcomes.

Accounting and Finance BSc (Hons)
Accounting and Finance BSc (Hons) with placement
Accounting and Finance BSc (Hons) with foundation year
Accounting and Finance BSc (Hons) with foundation year and placement
Please note: The full module listing for the optional Professional Training placement part of your course is available in the relevant programme specification.

Modules

Modules listed are indicative, reflecting the information available at the time of publication. Modules are subject to teaching availability, student demand and/or class size caps.

IBSF operates a credit framework for all taught programmes based on a 15-credit tariff.

Year 1 Compulsory Modules

What you will study
You’ll explore the core elements of accounting and finance in detail, through modules on financial accounting, management accounting, auditing, taxation, corporate finance and financial risk.
This blend of specific accounting and finance modules, with a wider understanding of business, gives you both a strong theoretical foundation in the subject and an appreciation of how accounting and finance theory is applied in business practice.
After laying the foundations in your first year, in your second year you will start to specialise, and in your final year, you will be able to tailor your degree to match your interests and career ambitions.

Course Content

Modules 1: Financial Accounting
Module Overview: The module introduces students to Financial Accounting by covering fundamental accounting concepts and their application in the maintenance of the ledgers and preparation of financial statements. What you will learn:  The framework of accounting and accounting concepts and characteristics  Ledger accounts and double-entry bookkeeping  Accounting adjustments including deprecation, bad and doubtful debts, accruals and prepayments  Preparation of final financial statements for sole traders  Bank reconciliations  Control and suspense accounts  Methods used to detect and correct errors in accounts Module aims  Provide a solid grounding in fundamental accounting concepts  Apply these concepts in the maintenance of the ledgers  Prepare and produce the financial statements for a sole trader

Modules 2: Professional Development for Accounting & Finance
Module Overview: The module seeks to enhance the employability of Accounting & Finance students by:  building their knowledge of the skills, behaviours and attitude required to secure employment (i.e. part-time work, internships, placement or graduate jobs) and be successful in the professional workplace.  increasing their self-awareness through exploration of their experiences and the competencies developed from these, students will be better able to evidence these competencies in their job applications.  developing their understanding of the recruitment tools used by employers (i.e. CVs, LinkedIn, interviews), students will be more effective in marketing themselves to employers.  exploring alternative career paths in Accounting & Finance, students will be able to shape their professional interests and career goals. Module content  Developing a professional portfolio to include an effective CV, Cover Letter and LinkedIn profile.  Enhancing knowledge of career paths in Accounting & Finance to inform professional interests and career goals through exposure to professionals in the sector.  Developing written and verbal communication, team working and reflective evaluation skills through self-evaluation questionnaires, interviews, the development of a team presentation and a written reflection of professional development journey. Module aims  Develop and apply the knowledge, skills, behaviours and attitude appropriate to the professional workplace  Explore potential career paths within Accounting & Finance  Develop greater self-awareness through the reflective evaluation of experiences

Year 1: Compulsory Modules: Module 3: Financial Mathematics with Excel
Module Overview: The module teaches tools and techniques of Business Mathematics, together with the development and application of Excel skills. Module content Topics include, but not exhausted to:  Basic numeracy  Data collection, analysis and presentation  Probability Distributions  Linear Regression  Time Value of Money  Spreadsheet skills - MS Excel  Problem-solving using mathematical tools, including the use of Excel Module aims  Enable students to use mathematical and statistical methods to solve quantitative business problems, both on paper and using Excel.  Prepare students with the Excel skills and mathematical tools required in future modules within the undergraduate degree programme and enhance employability.

Year 1: Compulsory Modules: Module 4: Business Law And Ethics
Module Overview: This course provides an understanding of the principles of English law and the legal system and how this legal framework impacts on business and professional services. Emphasis is placed upon the relationship with ethics and ethical codes in a professional context. Module content The following areas of Law will be covered:  English Legal System including sources of Law  Law and consequences of negligence  Contract Law  Partnership and Agency  Company Law  Insolvency Law  Impact of Criminal Law on Business  Information and the Legal Environment  Employment Law  Professional Ethics Module aims  To enable students to develop an understanding of the general legal framework and principles of English law of obligations.  To enable students to develop knowledge of the impact of business law in the professional context  To enable students to gain an appreciation of the ethical obligations of a professional accountant

Year 1: Compulsory Modules: Module 5: Management Accounting 1
Module Overview: Accounting is concerned with measurement and management. Measurement is concerned with recording past data, and management with the use of that data to make decisions that will benefit the business. Module content Indicative content includes:  Introduction to management accounting  Introduction to cost terms and concepts  Cost assignment: Marginal and absorption costing  Cost-Volume-Profit Analysis  Measuring relevant costs and revenues for decision-making  Activity based costing  Management control systems Module aims  Apply statistical and cost accounting techniques to support planning, decision-making and control process in organisations.  Discuss the different elements of management accounting control systems.  Discuss the purpose of cost and management accounting

Module 6: Business Economics
Module Overview: A good understanding of relevant economic theory and its application, together with an awareness of real-world current issues is critical for an employee at any level working in a business environment. Module content The course covers both Macro and Micro Economics and includes, but is not exhausted to, the following:  The Basic Economic Problem  The Economics of Demand and Supply Analysis of Market Structures T  The Economics of Labour Analysis of Government Intervention  Concept of Aggregate Demand and Keynesian Cross  Fiscal Policy  Monetary Policy  Analysis of GDP and Alternative Policies Module aims  Provide students with a knowledge of concepts of Business Economics both at Macro and Micro level.  Provide an understanding of both economic theory and practical examples and to demonstrate how businesses and consumers are influenced by Government and economic policies  Foster an awareness of economics and policies and to enable students to apply their theoretical knowledge to current economic situations.

Year 2: Compulsory Modules : Module 1: Financial Accounting 2
Module Overview: Accounting is concerned with measurement and management. Measurement is concerned with recording past data, and management with the use of that data to make decisions that will benefit the business. Module content  Preparation and analysis of financial statements for limited companies and other financial entities. Module aims  Develop and expand on the knowledge brought forward from Financial Accounting 1 by further application of various international accounting standards and industry practices  Explore the differences between the legal, financing and reporting structure of various business entities  Prepare and interpret the financial statements for limited companies, clubs and partnerships applying both theoretical and practical knowledge

Year 2: Compulsory Modules : Module 2: Financial Planning & Modelling
Module Overview: The prime motivator in business activity is sustainable profitability for shareholders' wealth maximization. It follows that all managers are likely to perform better towards that goal if they understand the mechanisms for achieving sustainable profit by acting in the interest of stakeholders. This module is designed to give students the necessary basic background in finance to enable them to be effective business managers. It covers the fundamental principles of corporate finance and investment in bonds, stocks, and projects, along with day-to-day working capital management. Module content Indicative content includes:  The importance of Corporate Finance within a business and the role of the Corporate Treasurer.  Corporate Financial Goals -including not-for-profit entities and sustainability goals.  Financial Analysis and Planning including performance against stakeholder goals and planning for growth.  Time Value of Money: discounted cash flow valuation for multiple periods and compounding over period of less than a year including application to investment and financing sources.  Asset Valuation: valuing bonds and equities.  Capital Investment Appraisal- using tools such as average accounting return, net present value, internal rate of return, payback, discounted payback and profitability index.  Working Capital Management and Cash Models - including operating cycle and the management of cash, inventories, accounts payable, accounts receivable and factoring. Module aims  Provide an understanding of the principles of financial management and an appreciation of the role of the finance function in the commercial life of a global business.  Provide techniques and digital capabilities for use in evaluating the financial needs of a business and in financial planning.  Evaluate and compare different investment opportunities and sources of short and long-term finance.

Year 2: Compulsory Modules : Module 3: Fundamentals of Business Analytics
Module Overview: This module provides an overall introduction to Business Analytics explaining methods used for descriptive, predictive, and prescriptive analytics as the main building blocks and phases of a typical business project within management and business contexts. In addition to generic introduction to business analytics phases, there will be more focus on the first two phases (i.e., descriptive and predictive small data analytics). This is mainly related to theories of probability and statistics. The module will also include general business skills needed to run a business analytics project such as how analytics professionals communicate with decision makers by using and interpreting analytic models. Module content The module will cover topics such as:  Introduction to the module  The Business Analytics lifecycle  Descriptive Statistics  Visualisation  Probability Theory  Descriptive Data Mining  Inferential Statistics  Regression Theories  Regression Models  Review of the module Module aims  Introduce key theories and concepts relevant to the field of Business Analytics and how it is applied for decision making.  Recognise the main stages of a typical business analytics and project how to successfully manage analytics projects.  Explore the different approaches and methods used for business analytics in terms of processes and types of output produced.

Year 2: Compulsory Modules : Module 4: Introduction to Taxation
Module Overview: This module introduces students to the subject of taxation and provides the core knowledge of the underlying principles and major technical areas of taxation as they affect the activities businesses, both incorporated and unincorporated. Module content Indicative content includes:  Capital Allowances: Classification of expenditure on capital assets in accordance with the statutory distinction between capital & revenue expenditure.  Computing assessable business income: Adjustment of trading profits and losses for tax purposes.  Preparing chargeable gains computations for businesses: including share pools, bonus and rights issues.  Preparing capital gains computations for sole traders and partnerships.  Corporation tax computations: trading profits and losses, capital allowances, investment income, loss reliefs and charges. Calculating corporation tax due.  Income tax computations for sole traders and partnerships: trading profits and losses, capital allowances, investment income, loss reliefs and charges. Calculating income tax due. Module aims  introduce students to the functions of the tax system and the separate taxes that an accountant would need to be able to apply  develop an understanding of Corporation tax, income tax, national insurance and chargeable gains arising on disposals of investments for both individuals and companies  enable students to produce a complete corporation tax return and Income tax and capital gains tax calculations for the latest available Finance Act

Year 2: Compulsory Modules : Module 5: Management Accounting 2
Module Overview: Accounting is concerned with measurement and management. Measurement is concerned with recording past data, and management with the use of that data to make decisions that will benefit the business. Module content Module content includes the following:  Budgeting – from preparation of detailed functional budgets to the summary master budget, followed by detailed variance analysis.  Product costing including job, contract and process costing  Management information systems Module aims  Use information systems to prepare reports for planning, decision-making and control  Apply management accounting techniques in analysing and interpreting reports  Explore and apply various costing methods for decision-making

Year 3: Compulsory Modules : Module 1: International Financial Management
Module Overview: Regardless of your role in a company, a good understanding of how corporate financial decisions impact on the value of the company is very essential. The Financial Management module focuses on the impact of financial choices on the value of the company and addresses some special topics in corporate finance. These include leasing, and an introduction to derivatives and their applications in corporate finance and financial risk management. Module content  Market Efficiency (Efficient Market Hypothesis) and Behavioural Finance  Managing the global finance structure for multinational groups including leasing, green finance, digital currencies and Islamic Finance  Strategic financial planning decisions, including global cash management and capital structure decisions  Dividend, share re-purchase decisions including dividend irrelevancy theory  Financial distress and corporate insolvency procedures  Mergers and acquisitions  Introduction to financial risk management  Introduction to the use of derivatives in financial risk management Module aims  Provide a deep understanding of modelling and other evaluation techniques and issues that inform a company's decisions on financing and pay-out policy.  Provide a practical understanding of approaches used to manage financial distress and financial risk , including the use of derivatives.

Year 3: Compulsory Modules : Module 2: International Financial Reporting
Module Overview: Regardless of your role in a company, a good understanding of how the Annual Report & Accounts impact on the value of the company is essential. The International Financial Reporting module focuses on the International Financial Reporting Standards and the international regulatory framework for reporting. The module addresses several topics including intangible non-current assets, leasing, inventory, deferred tax and revenue recognition. Module content Indicative content includes:  In the preparation of consolidated financial statements:  Wholly and partly owned subsidiaries  Associate companies  Inter- company issues arising on consolidation  Regulatory Framework  Objectives of Regulatory Bodies – International Accounting standards Committee (IASC), International Accounting Standards Board (IASB), International Financial Reporting Interpretation Committee (IFRIC) & The Standards Advisory Council (SAC)  Purpose, scope and current stage of development of the regulatory framework  Aims and objectives of the range of international reporting standards currently in issue. Module aims  Explore a range of international accounting standards currently in issue.  Introduce key issues in the preparation of group financial statements.  Explore the various regulatory bodies, the existing regulatory framework and provide an understanding of the accounting standard setting process.

Year 3: Compulsory Modules : Module 3: Management Accounting 3
Module Overview: The role of the management accountant continues to evolve; and with advances in technology, demand for management accounting skills has been on the rise to support strategic decision-making in businesses. In this module, you will develop knowledge and skills that will enable you to apply specialist management accounting techniques to analyse and convert data into meaningful managerial information for planning, decision-making, control, and performance evaluation. The focus of your learning will be on how to provide effective solutions to a range of real-life business problems; from developing efficient costing & pricing strategies to the analysis of variances and managing organisational performance. Module content Indicative content includes:  Traditional & Activity based costing  Pricing decisions and profitability analysis  CVP Analysis & Relevant Costing  Limiting factor analysis, Throughput accounting & Linear Programming  Risk and uncertainty  Quantitative analysis in budgeting  Standard costing and variance analysis  Divisional performance and transfer pricing  Performance analysis in private and public sectors  Strategic cost management Module aims  Use data from management information systems for planning, decision-making, control and performance management.  Select and apply suitable management accounting concepts and techniques for decision-making purposes.  Evaluate organisational performance from both a financial and non-financial perspective.

Year 3: Compulsory Modules : Module 4: Auditing
Module Overview: The module provides a structured approach to the conceptual and practical principles of auditing and other assurance engagements. It provides a real world perspective on current auditing practices with coverage of topical developments and techniques. Module content Indicative content includes:  Auditing overview: The audit market and the role of auditor  Ethics, independence and legal liability of auditors  Client acceptance  Audit Planning and risk assessment- understanding the entity and its environment including audit documentation  Concepts of audit risk and audit materiality  Internal control – the use of internal control systems by auditors, transaction cycles, tests of control, the evaluation of internal control components, communication on internal control  Substantive testing and analytical procedures  Audit evidence – the use of assertions by the auditor, audit procedures, the audit of specific risk items, audit sampling and other testing, computer assisted audit techniques  Audit opinion and reporting  Review – subsequent events, going concern, written representations, audit finalisation and the final review  Fraud  Internal audit- the differences between the external auditor and the internal audit function, the scope of the internal audit function, outsourcing the internal audit department, internal audit assignments Module aims  To introduce students to the major issues in auditing theory and practice.  To explain and analyse the nature of statutory audit and the key stages in the audit process.  To illustrate audit concepts with real life cases

Year 3: Compulsory Modules : Module 5: Advanced Taxation
Module Overview: Regardless of your role in a company, a good understanding of how tax planning decisions impact on the value of the company is essential. The Advanced Taxation module focuses on furthering student’s knowledge of the taxation of incorporated and unincorporated businesses covered in the Introduction to Taxation module. The Advanced Taxation module introduces students to personal taxation covering Income Tax and Inheritance Tax. Module content Indicative content includes:  The scope of Inheritance tax, the basic principles of computing transfers of value. The liabilities arising on chargeable lifetime transfers and on the death of an individual. The use of exemptions in deferring and minimising inheritance tax liabilities.  Computing assessable business income: Opening and closing year rules for unincorporated businesses. Partnerships assessable profits for each partner and loss relief claims.  Further Income tax issues: taxation of property income, pension schemes and providing for retirement  Further chargeable gains issues: transfers between spouses, principal private residence exemption, letting relief, entrepreneur’s relief, rollover relief, holdover relief and incorporation relief.  The scope of value added tax, VAT registration requirements, computation of VAT liabilities and the effect of special schemes.  Corporation tax for groups of companies, group losses and the effect of a change in the company’s ownership on the use of its losses. Module aims  Build understanding of a range of taxes including Income Tax, Corporation Tax, Capital Gains Tax, Value Added Tax and Inheritance Tax.  Prepare tax computations.  Critically evaluate alternative taxation options and advise clients.

About Course

Course summary

What Will You Learn?

Course Content