Modules for course N4AG | MSC/ACCFIN
MSc Accounting and Finance
These were the modules for this course in the 2016–17 academic year.
- ASB-4403: Int'l Financial Markets (15) An overview of financial markets and instruments; Review of the concepts of risk and return; Portfolio theory and diversification; The capital asset pricing model; Other asset pricing models; Efficient markets, behavioural finance and anomalies; Hedging, speculation and arbitrage; Foreign exchange and derivative markets; Option characteristics and option pricing; Forwards, futures and swaps.
- ASB-4418: Accounting Theory (15) Introduction to financial accounting theory; Theories of regulation; Normative theories of accounting; Positive accounting theory; Behavioural accounting theories; Systems-oriented theories; Critical accounting theories.
- ASB-4406: Financial Analysis (15) Balance sheet and income statement analysis; Financial ratio analysis and inter-firm comparison; Trend analysis and financial forecasting; Analysis of profitability and growth; The quality of financial statements, and using financial statements in valuation; Cash accounting, accrual accounting and discounted cash flow valuation; Pricing book values and earnings; Assessment of credit and equity risk.
- ASB-4419: Advanced Fin Rep & Reg (15) Convergence in International Financial Reporting and Regulation; Conceptual Framework; Regulatory environment of financial reporting; Accounting for Financial Instruments; Accounting for intangible assets; Accounting for Foreign Operations; Financial reporting issues and capital markets.
- ASB-4420: Management Accounting (15) The use of financial data in assessing business performance; Using this data to set the strategic aims of the organisation; The methods available to the management accountant for developing effective management in any specific situation; Cost classification, allocation and the use of various analytical models; Discussion of the issues of variance analysis; Study of ABC and SABM principles, their strengths and weaknesses, and their place in current management thinking.
60 credits from:
- ASB-4902: MSc Dissertation (60) (Semester 3) There is no set syllabus. The dissertation encourages students to develop a critical awareness of the professional skills relevant to the strategic management of a variety of business practices. Students choose their research topic, provided that there is suitable and sufficient reading material available, and a member of staff is available to supervise in the chosen area of study.
- ASB-4903: Financial Seminar Series (60) (Semester 3) The content below is that delivered in 2015, but the content will vary from year to year. This will enable the seminar programme to include staff research specialisms, to reflect current and topical research issues and to adapt to any staffing changes. Topics:- Set A: Accounting Set I. A1. Corporate governance and executive compensation (Professor John Ashton). A2. Impression management (Dr Doris Merkl-Davies). Set B: Banking and Finance. B1. Competition in the banking sector (Professor John Ashton). B2. Valuation for mergers, acquisitions and leveraged buyouts (Dr Ru Xie). Set C: Corporate Finance. C1. Event studies and the measurement of abnormal returns (Dr Gwion Williams). C2. Dividend policy (Professor Lynn Hodgkinson). Set D: Financial Markets. D1. The role of rating agencies in financial markets (Professor Owain ap Gwilym). D2. Market microstructure and high frequency trading (Professor Owain ap Gwilym). Seminar E1: Monetary Policy. E1. The conduct of monetary policy (Dr Rhys ap Gwilym). Set G: Accounting Set II. G1. Earnings management (Dr Aziz Jaafar). G2. Accounting and sustainability (Professor Lynn Hodgkinson). Each student must attend six of the above research seminars, as follows: MSc Accounting, MSc Accounting and Banking, MSc Accounting and Finance: Seminars A1, A2, C1, C2, G1, G2. MSc/MA Finance, MSc International Finance, MSc Investment Management, MSc/MA Management and Finance: Seminars B2, C1, C2, D1, D2, E1. MSc/MA Banking and Finance, MSc International Banking, MSc/MA Islamic Banking and Finance: Seminars B1, B2, C1, C2, D1, E1.
- ASB-4910: Finc'l Research & CFA Series (60) (Semester 3) In the Research Seminar component, the precise content will vary from year to year. This will enable the programme to include staff research specialisms, to reflect current and topical research issues and to adapt to any staffing changes. Indicative content for 2016 (labelling is consistent with the existing ASB4903/4896 module): A1. Corporate governance and executive compensation (Professor John Ashton). C1. Event studies and the measurement of abnormal returns (Dr Gwion Williams). D1. The role of rating agencies in financial markets (Professor Owain ap Gwilym). Each student must attend two of the above research seminars, as follows: MSc Accounting, MSc Accounting and Banking, MSc Accounting and Finance: Seminars A1, C1. MSc/MA Banking and Finance, MSc International Banking, MSc/MA Islamic Banking and Finance, MSc/MA Finance, MSc International Finance, MSc Investment Management, MSc/MA Management and Finance. Seminars C1, D1. MBA Banking and Finance, MBA Finance, MBA Islamic Banking and Finance. Seminars A1, D1. This is applicable to September and January intakes, in both Bangor and London. In the CFA component: Prepare students to undertake a professional exam. Training will cover topics on the CFA Level 1 syllabus. Indicative content for 2016: Ethical and Professional Standards; Quantitative Methods; Economics; Financial Reporting and Analysis; Corporate Finance; Portfolio Management; Equity Investments; Fixed Income Investments; Derivatives; and Alternative Investments.
15 credits from:
- ASB-4101: Research Methods (15) (Semester 2) Describing and summarising data; Probability and probability distributions; Principles of statistical inference; Correlation and regression analysis; Regression models for panel data.
- ASB-4601: Research Methods (15) (Semester 1) Describing and summarising data; Probability and probability distributions; Principles of statistical inference; Correlation and regression analysis; Regression models for panel data.
- Students entering the programme in January must take ASB-4101. Students entering the programme in September
30 credits from:
- ASB-4108: Financial Econometrics (15) (Semester 1) • Review of the linear regression model: estimation and hypothesis testing; • Dynamic regression models: distributed lag and autoregressive models; • Non-stationarity and testing for unit roots; • Modelling long-run relationships: cointegration; • Modelling volatility: univariate ARCH and GARCH models; • Regression analysis using panel data.
- ASB-4405: Int'l Financial Management (15) (Semester 1) The financial management of multinational companies (MNCs). The macroeconomic, fiscal, currency and political environments. Determinants of exchange rates, and purchasing power and interest rate parity. Management of exchange rate exposure through forwards, options. Corporate financing decisions and the role of the global financial markets. Cost of capital and performance evaluation; capital investment appraisal. Working capital management and the positioning of funds in the MNC.
- ASB-4408: Financial Econometrics (15) (Semester 2) • Review of the linear regression model: estimation and hypothesis testing; • Dynamic regression models: distributed lag and autoregressive models; • Non-stationarity and testing for unit roots; • Modelling long-run relationships: cointegration; • Modelling volatility: univariate ARCH and GARCH models; • Regression analysis using panel data.
- ASB-4414: Corporate Risk Management (15) (Semester 1) The nature of risk management; Risk identification; Business loss exposures; Risk measurement; Probability distributions (uses and limitations); Risk control tools; Risk financing tools; Influence of the market on risk management decisions; The interdependence of insurance and loss prevention decision; Insurance versus alternatives.
- ASB-4425: Invstmt Strat & Portfolio Mgmt (15) (Semester 2) The characteristics and roles of investment institutions; Investment objectives and the asset allocation decision; Principles of portfolio management; Bond valuation and bond portfolio management strategies; Equity portfolio management strategies; Performance measurement;
- ASB-4427: Islamic Acc & Fin Reporting (15) (Semester 2) Objectives, conceptual framework of Islamic accounting; Islamic Ethics in Accounting; Islamic and conventional Accounting: similarities and differences; Accounting for Islamic financial contracts: Murabaha, Mudaraba, Ijarah and Istisna; Accounting for zakah and provisions/reserves; Accounting for Islamic Mutual Funds, Sukuk and Investments; Accounting for Islamic Insurance (Takaful); Presentation and disclosure for financial statements of Islamic financial institutions.
- ASB-4435: Advanced Auditing & Assurance (15) (Semester 2) • Theoretical Framework and Regulatory Environment of Auditing • Professional and Ethical Considerations • Audit of Historical Financial Information • Audit Reporting • Other Assurance Services: a. Audit-related Services b. Internal Audit c. Forensic Accounting and Fraud Examination • Current Auditing Issues and Developments: a. Transnational Auditing b. Social and Environmental Auditing c. Information Technology
- ASB-4437: Merger and Acquisition (15) (Semester 2) Theory of the firm: "Build vs Buy"; Current issues in the M&A landscape; Motives for M&A; How do mergers work? When do mergers work? Winners and losers; Valuation in the context of an acquisition; Criteria for value-adding acquisitions; Cross-border vs domestic acquisitions.
- Students entering the programme in January wishing to choose Financial Econometrics should choose the code ASB4108 (not ASB4408)