International Accounting and Finance MSc/Postgraduate Diploma/Postgraduate Certificate

www.accountingandfinance.stir.ac.uk

Globalisation, the growth of multinational enterprises, the convergence of international accounting practices and the expansion of the European Union all contribute to the importance of an international focus in accounting and finance education.

The increasing influence of international financial reporting standards and the shortage in some countries of international accounting expertise have led to significant demand for relevant education. Even in the EU the speed and significance of recent reforms have led to a demand for Master’s-level education which reflects these developments and facilitates transition.

Programme Objectives

Accounting and finance qualifications, especially with an international focus, greatly enhance employment opportunities and career prospects in business, commerce and accountancy. In addition, the programme provides an ideal base for progression to PhD-level study.

 

The global accounting body ACCA (Association of Chartered Certified Accountants) recognises the MSc in International Accounting and Finance, giving graduates of the programme exemption from up to six of their papers.

Entrance Requirements

At least a lower second class Honours degree in any discipline or equivalent professional qualifications or significant and relevant work experience. Applicants should be reasonably numerate.

English Language Requirements

If English is not your first language, you must provide evidence of your proficiency such as a minimum IELTS score of 6.5 (minimum 6 in each skill) or TOEFL 550/233 (Paper/Computer/Internet). A first degree taught in English will satisfy this condition, as will satisfactory completion of an appropriate programme at the University’s Centre for English Language Teaching.

Funding

At least two divisional scholarship are usually available each year.

Postgraduate Student’s Allowance Scheme (PSAS) awards are available on a competitive basis to Home/EU fee paying applicants.

For information on possible sources of funding, visit: www.stir.ac.uk/postgrad/finance

Modes of Study

Full-time: 1 year

Programme Start Date

September

Programme Director

Professor Lisa Evans

Teaching Staff

• Dr Kevin Campbell
• Mr Bill Collins
• Professor Lisa Evans
• Professor Ian Fraser
• Professor David Bell
• Professor Alan Goodacre
• Dr Isaac Tabner
• Dr Sarah Jane Thomson
• Professor Chris Veld
• Dr Yulia Veld-Merkoulova

 

For more information, please see the Accounting & Finance Division staff list.

Accounting & Finance Division

The Accounting and Finance Division, part of Stirling Management School, has recently ranked tenth in the UK and third in Scotland for accounting research, according to a recent analysis of research output across 24 leading journals.

Chartered Financial Analyst (CFA) Institute Rated

• The global membership organisation that awards the prestigious Chartered Financial Analyst® designation, CFA Institute, has named the University of Stirling as a program partner – making it the first institution in Scotland to receive this prestigious accolade, and one of a select group of partner institutions world-wide.

 

UK and Scotland Rating

• The Division is among the most successful departments of Accounting and Finance in the UK, recently ranking 16th (The Times Good University Guide 2008)
• Teaching provision within the Division has been assessed by the Scottish Funding Council and rated as highly satisfactory and was recently ranked in the top 20 in the UK (The Times Good University Guide, 2007).

 

Structure and Content

The Master’s programme is a one-year, full-time programme with an initial taught component of two 15-week semesters, involving lectures, practical case study work and workshops, with a supervised dissertation in the final period.

Autumn semester modules:

• Financial Reporting: Provides an appreciation of the underlying assumptions and limitations of accounting information. Measurement and reporting problems in financial accounting are discussed. Methods available for interpreting accounting information are explored and applied to ‘live’ data.
• Corporate Finance: Provides an understanding of how corporations raise finance (debt and equity) and how they invest money (capital budgeting). This module examines the major decision areas of corporate finance and how these affect the value of the firm.
• Accounting and Society: Provides students with an awareness of the wider social background to accounting by introducing them to the concept of accountability in different contexts, such as (international) accounting regulation, accounting theory, auditing and corporate governance, social and environmental accounting, and accounting for internal (management) purposes.
• Quantitative Methods in Finance: Provides the statistical and computing skills necessary to fully understand modern banking and finance operations. Spreadsheets are used to manipulate statistical models and to estimate linear models.

Spring semester modules:

Core Module:

• Research Methods: Introduces students to generic and subject-specific research training. It also aims to prepare students for the dissertation module as well as to lay the foundations for more advanced postgraduate research.

 

Three option modules (at least one from each subject grouping). Modules which may be offered:

Accounting Grouping:

• Topics in International Accounting: Introduces the area of international accounting in its theoretical context and practical relevance, and explores financial reporting in different national or regulatory contexts.
• Corporate Governance and Accountability: Explores the theory and practice of corporate governance from an accountability perspective.
• Advanced Financial Reporting: Considers a number of advanced topics in financial reporting and introduces students to the practical application of international financial reporting standards.

Finance Grouping:

• Financial Statement Analysis: Develops skills in the interpretation and use of financial statements, focusing on company valuation and identification of companies that may become insolvent.
• Derivatives: Focuses on the uses and the pricing of the key derivative instruments: options, futures, forwards and swaps.
• Investments and Portfolio Management: Provides an understanding of security valuation and portfolio management. It focuses on the valuation of both equities and fixed-interest securities and the management of equity and fixed-interest portfolios.
• Issues in Corporate Finance: Provides an understanding of selected contemporary issues in corporate finance, including initial public offerings, seasoned equity offerings, capital structure, dividend policy, mergers, acquisitions and restructurings.
• International Finance: Provides in-depth study of some of the key areas of corporate finance within an international environment, and in particular, the operation of the foreign exchange market; the interaction between exchange rates, inflation rates and interest rates.

Many modules cover learning outcomes from all three levels of the Chartered Financial Analyst (CFA®) programme.

Delivery and Assessment

Successful completion of the taught modules leads to the award of a Postgraduate Diploma. The Master’s degree is awarded on, in addition, satisfactory completion of a dissertation. Dissertation topics may be chosen from either accounting or finance.

Timetable and Reading Lists

Contact the Programme Administrator, Joanne Fairbrother, at accountingandfinance@stir.ac.uk for information.

Career Opportunities

Graduates of our established programmes have gone to work across the world in a variety of successful careers in accounting and finance.

Research Opportunities

Our research is given cohesion through its organisation around several key areas in which we have particular research strengths. In accounting, these lie in financial reporting, auditing and accounting history. Our research activity in finance is mostly concentrated on empirical corporate finance. However, we are also active in research on investments and derivative securities and most of our research is policy-focused. We regularly host a wide range of research seminars and produce an ongoing series of working papers. Recent publications in accounting and finance journals include Critical Perspectives in Accounting, Journal of Business Finance & Accounting, Journal of Future Markets, European Financial Management and Journal of Law & Society, Corporate Governance: An International Review, the British Accounting Review and British Tax Review.

For information on the Division’s research interests, visit: www.accountingandfinance.stir.ac.uk/research

Research Proposal

Research proposals, focusing on topics which fall into the areas of research expertise of current staff in the School, should include the following: executive summary, importance of the proposed research, prior relevant research and literature review, research questions and methodology, any limitations or particular requirements for the research.

The word limit for Accounting & Finance research proposals is 2,000 words.

RAE Rating

The UK-wide Research Assessment Exercise (RAE) confirmed the quality of the work being done by our researchers. 85% of the University of Stirling’s research has been judged to be internationally excellent and internationally recognised, with the top 10% of that judged to be world class.

View the full outcomes of Stirling’s RAE performance

Use the online enquiry service to find out more or to request a prospectus.

If you are ready to apply you can fill out an online application form now.