1. Module Selection Day Dr Josie McLaren, DPD N400 Accounting and Finance 18 April 2013

2. Making your choice • Your N400 degree programme is made up of compulsory and optional elements • For those of you thinking of going into the accounting profession, there are some option choices you should bear in mind, depending on the accounting body from which you may be seeking exemptions.

3. Making your choice • Some stage 3 choices are governed by what you have taken at stage 2 • Some stage 3 modules have pre-requisites of stage 2 modules • At stage 3 you will be able to take up to 20 credits of stage 2 modules that you have not already taken

4. N400 Stage 3 STAGE 3 COMPULSORY MODULES: ACC3001 Financial Accounting 20 ACC3002 Management Accounting 20 ACC3006 International Financial Management 20

5. 60 credits of options STAGE 3 ACC OPTIONS: ACC3008 Auditing as Social Accountability 20 (Requires ACC2020) ACC3009 Taxation in Accounting 20 (ACCA, CIMA & ICAEW exemptions) ACC3016 Accounting, Organisations & Society20 ACC3017 Derivative Securities 20 (Requires 60% in ACC2007 (first attempt)) ACC3018 Accounting Change and Development 20 NCL3007 Career Development for Final Year Students 20 (not available if NCL2007 was taken in stage 2) NCL3008 Advanced Career Development 20

6. Stage 2 options that can be taken at stage 3 ACC2009 Strategic Business Analysis (ICAEW exemption)20 ACC2020 Auditing (ACCA & ICAEW exemption) 20 • Other options in Business School or outside (with DPD approval) – subject to pre-requisites

7. ACC2020 Auditing • To enable students to understand what auditing means in the context of professional frameworks: how organisations try to seek audit assurance and how this is reported to the relevant stakeholders within an international context. • Audit framework and regulation • Internal audit and corporate governance • Risk assessment and planning of assurance engagements • Gathering audit evidence; assessing and using Internal controls and • Review and reporting

8. ACC2009 Strategic Business Analysis • To enable students to understand how businesses develop and implement strategic choices. • To understand and analyse business objectives, market position, and internal and external factors affecting strategic choices. • Techniques for evaluating the strategic position of a business, including internal and external factors • Scenario analysis, including financial data, to determine strategic choice • Change management

9. ACC3008 Auditing as Social Accountability • To enable students to develop social scientific explanations about policies and practices of auditing within particular economic, political and societal contexts. • Auditing philosophy, Corporate governance • True and fair view, Expectations gap • Notions of accountability, Money laundering • Research methodology, Auditor independence • Audit policy making and regulation, Reporting responsibilities

10. ACC3009 Taxation in Accounting • To enable students to understand the general objectives, ethics and administration of tax. • Ethics and Administration • Income tax and National insurance contributions • Capital gains tax • Corporation tax, including corporate capital gains • VAT • Inheritance tax • International taxation

11. ACC3016 Accounting, Organizations and Society • To enable students to explore in greater depth an area of accounting or finance of their choice. This may be one of: • (i) an examination of the relationship between accounting/finance and behavioural/organisational concerns, • (ii) an in-depth study of an event or organisation related to accounting/finance, • (iii) an examination of some aspect(s) of the accounting or finance professions.

12. ACC3017 Derivative Securities • The module aims to develop student understanding of the uses and valuation of financial derivatives and to examine issues concerning the management of risk for financial institutions dealing in financial derivatives. • Introduction • Futures Markets & Hedging • Valuing Forwards • Futures & Swaps • Boundary Conditions for Stock Option Prices • Binomial Derivative Pricing Model • Black-Scholes European Option Pricing Model

13. Applications of the Black-Scholes European Option Pricing Model • Trading Strategies Involving European Stock Options • Hedging Option Positions • Monitoring Risk: Calculation of Value-At-Risk (VAR) • Holes in Black-Scholes • Numerical Methods for Valuing Derivatives • Characteristics & Valuation of Exotic Options • Credit Risk & Credit Derivatives • Executive Stock Options

14. ACC3018 Accounting Change and Development Aim: To develop a critical understanding of the processes that have shaped and continue to shape accounting. • Critical analysis of accounting in history • Change and development in management accounting • Public sector accounting history • Histories of accounting in society

15. Module Structure

16. Feedback by module

17. What do you need to do? • You should have all received an e-mail about the S3P system for on-line selection • The portal opens tomorrow (Friday 19th April) - and all choices must be made by the deadline (Wednesday 24th April) • Do you know your password?

18. Making sensible choices • All options listed in the regulations for N400 (above) are suitable. • Full details are on the web • You are entitled to choose other options – e.g. Economics/Management/Marketing modules, a language – BUT THESE ARE NOT FORMALLY PART OF THE REGULATIONS AND WILL SUBJECT TO THE TIMETABLE

19. Procedure for choosing option modules – within regulations • Students make their module choice/s using S3P • Refer to school web site and emails for help on this – remember the deadline (24th April) • Option choices listed in the regulations can be made and will go into the timetabling system

20. Finding alternative modules • If you wish to choose a module or modules outside the regulations, it is up to you to investigate the possibilities: • If you are considering an Economics, Management or Marketing module, look at the regulations for these programmes to see the available modules, and possibly attend module choice sessions or meetings • Look on the MOFs database • Make sure that you have met the pre-requisites

21. Procedure for choosing option modules – outside regulations • Register now for a module that is part of your regulations • In Induction Week (or earlier), check the timetable for BOTH semesters • If the module you wish to take is ‘do-able’, then contact me to ask if I would approve the module choice • Go to the UG Office to have the choice made

22. Making your decisions • If you need help to make up your mind: • Attend the various information sessions • Look at the MOF database • Contact the module leader for further information • Ask me • Any questions?