BSc Accounting and Finance

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					BSc Accounting
 and Finance
The programme
   The BSc Accounting and Finance                 Degree structure                             First year
   programme is widely regarded as being          The degree involves studying 12              The first year specialist introductory course,
   at the forefront of international teaching     courses over the three years. At least       Elements of Accounting and Finance,
   in its field. It is known for pioneering       half of these are required to be in          introduces students to the preparation,
   innovative approaches to the study             accounting and finance, and in addition      uses and limitations of accounting
   of the modern practice of financial            there are compulsory courses in related      information, and to some issues in finance
   management for organisations in                disciplines in the first and second years.   and investment. This course will bring
   both the private and public sector. The        You also normally have the opportunity       you into contact with students from
   aim of the programme is to give you            to take one course each year in a subject    other departments, who can take it as an
   an understanding of accounting and             of your choice.                              option. There is also a course in Economics.
   finance that will be useful throughout
                                                                                               Your choice of quantitative methods
   your career. It offers a rewarding yet
                                                                                               course will depend on your background
   challenging learning experience that is        Teaching and assessment                      in mathematics and statistics. You may
   consistent with studying in one of the
                                                  You will usually have about 12 to 15         be able to choose one of your first year
   world’s leading social science institutions.
                                                  hours of lectures and classes each week,     courses as an outside option from a wide
   We require students to master some
                                                  but you will also have to work hard on       range taught in other departments in
   techniques, and to understand their
                                                  your own – reading, writing essays or        subject areas including anthropology,
   practical application, but we do not offer
                                                  working on class assignments. You will       computing, economic history, geography,
   vocational training. We expect students
                                                  have an Academic Adviser who is a            law, mathematics, philosophy, politics,
   to engage with both theory and practice,
                                                  member of staff from the Department          psychology and sociology.
   and to develop a critical understanding of
   how accounting and finance operate in a        of Accounting. The Adviser’s role is to
                                                                                               If you have not done an A level in
   range of different institutional settings.     follow your progress and deal with any
                                                                                               Mathematics, you will be required to take
                                                  concerns you might have.
                                                                                               courses in mathematics and statistics to
   The BSc Accounting and Finance is
                                                  You will usually be assessed by written      give you access to the full range of options
   an interdepartmental programme,
                                                  examinations at the end of each academic     in years two and three. This means you will
   housed in the Department of
                                                  year, many requiring both computational      not be able to take an outside option in
   Accounting. Faculty from the
                                                  and essay writing skills. Some courses are   your first year.
   Departments of Accounting and of
   Finance include many internationally           assessed partly by essays or other work
                                                                                               Second year
   renowned leaders in academic research,         submitted during the year. To progress
   professional accountancy and financial         through the degree you will need to pass     In the second year, you take compulsory
   markets. Teachers will encourage you           the appropriate examinations.                courses in both Accounting and Finance.
   to develop your analytical and critical                                                     The accounting course – Managerial
   skills to enable you to understand the                                                      Accounting – focuses on the roles
   subject from a variety of perspectives,        Professional training                        and applications of management
   including the international dimension.         If you successfully complete the degree      accounting in contemporary
   Real world insights are reinforced by          then, depending on the options you           organisations and enterprises. It
   case studies, and examples drawn from          have taken, you may obtain exemptions        considers planning, coordination and
   the current corporate, professional and        from some examinations of certain            control of complex organisations and
   regulatory world.                              professional accountancy bodies.             networks of organisations, together with
                                                  However, professional syllabuses are         emerging topics such as comparative
   The Department of Accounting strongly          subject to frequent revision and it is not   cost management and strategic
   supports the activities of the LSESU           possible to specify now what exemptions      management. The compulsory finance
   Accounting Society, which is a highly          may be available when you graduate.          course, Principles of Finance, examines
   enterprising group of students within          Further information can be obtained from     the theory of financial decision-making
   the School.                                    the Department or from the professional      by firms, and examines the behaviour
                                                  accountancy bodies themselves, including     of the capital markets in which these
                                                  the Institute of Chartered Accountants in    decisions are taken. You take a further
                                                  England and Wales (ICAEW), the Institute     course in Economics, and will select a
                                                  of Chartered Accountants of Scotland         fourth course from a range of options
                                                  (ICAS), the Association of Chartered         offered by other LSE departments.
                                                  Certified Accountants (ACCA), and the
                                                  Chartered Institute of Management
                                                  Accountants (CIMA).
Third year
In the third year, you again take                   If you wish to gain exemptions from certain    Focusing on ‘big’ questions – such as
compulsory courses in Accounting and                professional accountancy examinations,         ‘What are the challenges of tackling
Finance. Financial Accounting, Analysis             you should consider taking Commercial          climate change?’, ‘How does “culture”
and Valuation addresses the theory                  Law as an option.                              matter?’ and ‘Might the Cold War not
and practice of financial reporting and                                                            have ended?’ – students will explore the
valuation. The compulsory finance                                                                  different types of evidence, alternative
course is either Corporate Finance,                 The LSE Course: Understanding                  forms of explanation and different
Investments and Financial Markets, or               the causes of things                           strategies for abstraction and modelling
Quantitative Finance. In addition, you              This innovative new course is aimed            that are used. Students will learn research
are required to take either Management              at introducing undergraduates to the           skills, including information skills and
Accounting, Financial Management                    fundamental elements of thinking as a          analysis of evidence, and communication
and Organisational Control or Auditing,             social scientist by exploring real problems    skills, including both writing and
Governance and Risk Management.                     and real questions, drawing on a range of      presentation skills.
Your fourth course allows you to extend             disciplines across the social sciences. This
your study of accounting and finance, or            distinctive course will actively challenge
to choose a subject from a wide range               you to analyse questions of current public
offered by other LSE departments.                   concern and of intellectual debate from a
                                                    rigorous social science perspective.


The courses

    Paper   Year One                                     Year Two                                  Year Three
    1       Elements of Accounting and Finance           Managerial Accounting                     Financial Accounting, Analysis
                                                                                                   and Valuation
    2       Economics B                                  Principles of Finance                     Management Accounting, Financial
                                                                                                   Management and Organisational Control
                                                                                                   or
                                                                                                   Auditing, Governance and Risk
                                                                                                   Management
    3       Quantitative Methods (Mathematics)           Microeconomic Principles I                Corporate Finance, Investments
            and Quantitative Methods (Statistics)        or                                        and Financial Markets
            or                                           Microeconomic Principles II               or
            Elementary Statistical Theory                or                                        Quantitative Finance
            or                                           Macroeconomic Principles
            Probability and Statistics for the
            Social Sciences†
    4       One of the following:†                       Outside option                            Option in Accounting not already
            Mathematical Methods                                                                   selected above
            or                                                                                     or
            Basic Quantitative Methods                                                             Option in Finance not already
            or                                                                                     selected above
            An approved course taught outside the                                                  or
            Department                                                                             Outside option
    5       The LSE Course: Modules 1-3 (Lent Term)      The LSE Course: Modules 4-6
                                                         (Michaelmas Term)

†
    Choices of these courses will depend on your previous level of mathematics.
Department Of Accounting




     Teaching staff
                   Department of Accounting                  Dr Andrea Mennicken, Lecturer                Professor Wim A. Van der Stede,
                                                             in Accounting                                CIMA Professor of Accounting and
                   Dr Vasiliki Athanasakou,                                                               Financial Management
                                                             International accounting and auditing;
                   Lecturer in Accounting
                                                             sociological studies of audit regulation     Management control systems:
                   Financial reporting practices (earnings   and harmonisation; processes of              budgeting, performance measurement,
                   management, mandatory/voluntary           professionalisation; accounting,             and incentive systems; corporate
                   disclosure); accounting and market        economic transition and social               governance: boards of directors,
                   regulation; and implications for the      transformation in post-Soviet Russia;        executive compensation, and internal
                   financial markets.                        the sociology of calculative practices.      controls.
                   Professor Al Bhimani, Professor of        Professor Peter Miller, Professor
                   Management Accounting, Head of            of Management Accounting
                                                                                                          Department of Finance
                   Department of Accounting                                                               Dr Elisabeth Bertero, Lecturer
                                                             Investment appraisal in new
                   Management accounting in the digital      manufacturing environments;                  in Finance
                   economy, international comparative        accounting and ‘New Public                   Sub-sovereign debt; the financial role of
                   financial management; strategy and        Management’; accounting as a                 the state; international finance; budget
                   cost management; the social analysis      social and institutional practice.           constraint and state-owned firms.
                   of accounting and governance systems.
                                                             Dr Yuval Millo, Lecturer                     Dr Jack Favilukis, Lecturer
                   Dr Pascal Frantz, Lecturer in             in Accounting                                in Finance
                   Accounting and Finance
                                                             Social networks; sociology of financial      Consumption Based Asset Pricing;
                   Securities analysis; the economics        markets; corporate governance.               incomplete markets; heterogeneity and
                   of disclosures and auditing.                                                           inequality; limited participation and
                                                             Mr Christopher Noke, Senior Lecturer         participation costs.
                   Dr Lisa Goh, Lecturer in Accounting       in Accounting, Departmental Tutor
                   Financial reporting; mergers and          Historical developments of financial         Professor Christopher Polk, Professor
                   acquisitions; executive compensation.     reporting; financial accounting.             of Finance
                                                                                                          Asset pricing; corporate finance; hedge
                   Dr Matthew Hall, Lecturer                 Professor Michael Power,                     funds; macroeconomics.
                   in Accounting                             Professor of Accounting
                   Management accounting,                    The role of internal and external auditing   Dr Michela Verardo, Lecturer
                   management control systems                in the corporate governance process;         in Finance
                   and performance measurement;              internal control systems and corporate       Empirical asset pricing, investment
                   behavioural accounting and                risk management and regulation; risk         anomalies, the information efficiency
                   professional commitment                   reporting and communication.                 of stock markets; the impact of analyst
                   of accountants.                                                                        forecasts on stock returns; financial and
                                                             Dr Rita Samiolo, Lecturer                    bayesian econometrics.
                   Dr Liisa Kurunmäki, Reader                in Accounting
                   in Accounting                                                                          Professor David Webb, Professor
                                                             Social and institutional studies of
                   Accounting in the New Public Sector,      accounting; Accounting in the public         of Finance, Head of Department
                   with special reference to healthcare.     sector; Risk management and regulation.      of Finance
                                                                                                          Financial Economics and Insurance
                   Professor Richard Macve, Professor        Dr Ana Simpson, Lecturer                     Economics; Economics of Information;
                   of Accounting                             in Accounting                                Corporate Finance and Financial Markets.
                   Conceptual framework of financial         Voluntary disclosure – incentives
                   accounting and reporting; financial       and consequences; analysts’ forecast         Dr Mungo Wilson, Lecturer
                   reporting in the insurance industry;      efficiency; earnings management.             in Finance
                   the historical development of                                                          Asset pricing; portfolio management;
                   accounting; environmental accounting      Dr Kazbi Soonawalla, Lecturer in             mutual funds; residential real estate.
                   and reporting; interactions between       Accounting
                   insurance and environmental               Financial accounting; international
                   management.                               accounting; joint ventures; corporate
                                                             social responsibility.
The application
    The application process                     Applicants for whom English is a           Funding your studies
    We are looking for candidates who           second language, or those who have         The School has a variety of named
    show a positive interest in studying        not studied to degree level in English,    scholarships and other forms of
    Accounting and Finance, and who are         should provide evidence of their           support available, administered by the
    interested in developing an analytical      command of the language. For the BSc       Financial Support Office. Applicants
    and critical approach to the subject.       Accounting and Finance programme,          can find out more about these from
    Applicants for the BSc Accounting           this would be a minimum of 627 in          the Financial Support Office website:
    and Finance programme require               TOEFL paper based test (263 in the         www.lse.ac.uk/financialSupportOffice
    GCSE pass at grade A or above in            computer based test), or at least 7.0 in
    Mathematics, or A level at grade B or       all four sections of the IELTS.            The application process for
    above in Mathematics (or equivalent).                                                  undergraduate programmes is
                                                All applications for undergraduate         managed by Undergraduate
    No specific subjects are required           degree study to LSE must be made
    at A level, but a combination of A                                                     Admissions at LSE. All correspondence
                                                through UCAS (Universities’ and            relating to offers and registrations
    level subjects that demonstrate both        Colleges’ Admissions Service). After
    mathematical and essay writing skills                                                  should be directed to the
                                                submitting your application form,          Undergraduate Admissions Office:
    are helpful. Those candidates who do        you should allow approximately three
    not have an A level in Mathematics          months from when you submitted your        Undergraduate Admissions
    (or equivalent) should be prepared          form to UCAS, to hear a final decision     London School of Economics and
    to develop their mathematical skills,       from us, although some decisions           Political Science
    and will be provided with support           may take longer. The School does not       Houghton Street
    including tailored first year courses in    normally interview applicants.             London WC2A 2AE
    mathematics and statistics. The usual
    standard offer is A level grades A A B.                                                www.lse.ac.uk/collections/
    For the International Baccalaureate, it                                                undergraduateAdmissions/
    is a Diploma with 37 points including 6                                                Tel: +44 (0)20 7955 7125
    6 6 at Higher level. Other qualifications
    are considered.                                                                        Email: ug-admissions@lse.ac.uk
The students
    Student profiles                                                           Pie chart showing breakdown by country yet to place
                                                                         South America <1%
    International diversity of both faculty and students is a key        Middle East 2%
    feature of studying at LSE and in the Department of Accounting       Africa 3%
    which offers the BSc Accounting and Finance degree. In addition      Europe (excl UK) 8%
    to an international faculty, the BSc Accounting and Finance          USA, Canada and
    programme aims to attract students from all around the world.        Caribbean 3%
                                                                         Russian 2%
                                                                                                                 Country
    Careers                                                              South Asia and India 11%               of Origin*
    Students graduating from our BSc Accounting and Finance              East Asia 9%
    programme go on to careers in a wide variety of organisations        UK 43%
    including accounting and assurance firms, consultancies, financial   South East Asia and
    services firms, manufacturing and service firms, as well as non-     New Zealand 20%
    profit and government organisations.
    Many leading organisations make careers presentations at the
    School during the year. LSE’s Careers Service has a wide range of
    resources available to assist students in their job search.          *Data for registered BSc Accounting and Finance students
    Staff at the Careers Service are available to help students with      in years 1-3 in 2008-09
    their research into potential employers, completing application
    forms, writing a curriculum vitae (CV) and covering letters.
    The Careers Service also organises and publicises on-campus
    recruitment events held by employers. It has set up a range of
    online resources to provide students with access to careers-
    related information and to link students with potential employers.




The department
    Departmental facilities                           Useful links for further information          Open days – www.lse.ac.uk/
    The Department of Accounting has a                Undergraduate admissions                      collections/studentRecruitment
    Student Information Centre to serve               – www.lse.ac.uk/collections/                  For information on LSE open days (for
    as a central point for enquiries and              undergraduateAdmissions                       prospective undergraduate students).
    for the distribution of relevant course
    materials, which are also available               For enquiries about admissions criteria,      Department of Accounting – www.
    electronically via Moodle.                        online applications and further               lse.ac.uk/collections/accounting
                                                      information on studying at LSE.
    The Department also provides study                                                              For further information on the
    space for students which include                  Careers Office – www.lse.ac.uk/careers        programmes, faculty and activities of
    computer access and network points                For further details on graduate               the Department of Accounting.
    for laptops. Through the School’s IT              employment opportunities, internships         BSc Accounting and Finance
    Services, students have access to free IT         and vacation work.                            Programme Manager
    training for the core software packages
                                                      Financial Support Office – www.lse.           Department of Accounting
    they will need during their studies.
                                                      ac.uk/financialSupportOffice                  Houghton Street
                                                                                                    London WC2A 2AE
                                                      For information on scholarships and
                                                      applying for financial support.               Tel: +44 (0)20 7955 7737
                                                                                                    Fax: +44 (0)20 7955 7420
                                                                                                    Email: accounting@lse.ac.uk

				
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