Business Management with Accounting and Finance
BSc (Hons)

The Year 1 establishes the foundations of a broad spectrum of business management and accounting and finance theories and concepts.

Year 2 builds upon this foundation. More advanced concepts and operational aspects of business, management and accounting and finance are introduced.

Year 3 draws the previous years’ teaching and learning together through introduction and development of accounting, finance and strategy.

Students’ acquisition of knowledge and understanding is facilitated through the teaching and learning strategies. They are pursued by the various departments from which BSc (Business Management with Accounting and Finance) modules are drawn. Teaching and learning methods used on the programme include lectures and small group teaching. Students attend seminars, tutorials, computer workshops, simulations, and workshops. Knowledge and skills are developed through taught material, exercises and coursework of increasing challenge and complexity.

Programme structure: We continually review and enhance our curriculum to ensure we are delivering the best possible learning experience, and to make sure that the subject knowledge and transferable skills you develop will prepare you for your future. The University will make every reasonable effort to offer programmes and modules as advertised. In some cases, changes may be necessary and may result in new modules or some modules and combinations being unavailable. Not all optional modules are available every year.

Introduction to Accounting and Finance

In this module, you will be introduced to the core concepts and techniques of Accounting and Finance, spanning financial accounting, managerial finance, and financial statement analysis. Working with real-world financial data from actual companies, you will gain exposure to the business and financial environment within which the discipline operates. You will develop both the interpretive and technical skills relating to the external financial reporting of companies and their relationship to the stock market, as well as an understanding of how accounting information is used for internal management purposes.
By the end of this module, you will be able to:

• Appreciate the distinction between internal and external reporting and the demands of different users of external financial information
• Analyse and record basic transactions using double entry bookkeeping and prepare basic balance sheets and profit and loss accounts
• Understand how financial markets work and appreciate the importance of financial management
• Use financial models to make decisions between competing investments
• Apply a range of techniques to interpret and analyse a set of financial statements

Economics for Business

In this module, you will be introduced to the discipline of Economics, exploring how a modern economy functions at both the microeconomic level, by examining the behaviour of individuals and firms, and the macroeconomic level, where aggregates such as national income, unemployment, and inflation are the focus of attention.
By the end of this module, you will be able to:

• Use appropriate theoretical and analytical tools to understand economics, with particular emphasis on the behaviour of individuals and firms, the implications of government action, and the macroeconomic environment
• Calculate, solve, and interpret quantitative economic problems relating to consumers (such as elasticities of demand), firms (such as cost and revenue analysis and profit-maximising equilibria), and the macroeconomy (such as national income)
• Communicate and present economic arguments in both written and oral form with clarity and conciseness

Principles of Marketing

In this module, you will examine the key elements of marketing theory and practice and how these connect with other aspects of business management. The module is organised around three themes. The first introduces the fundamentals of marketing, including the branding and pricing of products and services. The second explores the competitive marketplace, focusing on how organisations understand and engage with consumers, including recent developments in digital marketing. The third consolidates your learning by considering how marketers obtain and use information to inform innovation and the marketing planning process.
By the end of this module, you will be able to:

• Appreciate the role of marketing both as the social process of exchange and as a management function within an organisation
• Critically evaluate and discuss marketing theories to construct coherent and evidence based arguments
• Critically evaluate and reflect upon marketing practices through the use of different contexts and examples
• Communicate ideas and persuasive recommendations to address marketing issues and challenges faced by organisations and society

Introduction to Management

In this module, you will be introduced to both traditional and contemporary ideas about management and leadership, exploring a range of theories and practices relevant to the organisation of work. You will examine and contrast major trends in management and leadership thinking, considering the relationship between theory and practice in key emerging areas, and engaging with current issues and debates in the field. The module also provides a supportive environment in which you can develop, test, and explore your own theories and managerial and leadership skills.
By the end of this module, you will be able to:

• Explain the nature of management and leadership and distinguish between the two
• Compare and contrast major trends and theories in management and leadership thinking
• Explore the relationship between theory and practice in key emerging areas of management and leadership
• Engage critically with current issues and debates in management and leadership
• Reflect on and develop your own managerial and leadership skills

Introduction to Business Analytics

In this module, you will be introduced to the core ideas and practical tools of business analytics, exploring how data can support better decisions in organisations. You will examine what data is, how it is collected, and how sampling works, before learning how to visualise data using charts and graphs and describe patterns using measures of averages, variation, and relationships. As the module progresses, you will model links between variables through simple and multiple regression and apply basic forecasting techniques to support planning.
By the end of this module, you will be able to:

• Visualise data effectively and describe patterns using appropriate measures of averages, variation, and relationships
• Build and interpret simple and multiple regression models to analyse links between variables.
• Apply basic forecasting techniques to support organisational planning.
• Use spreadsheet software to carry out analysis and present findings clearly to decision makers

Employability and Careers I

In this module, you will take the first steps in preparing for your future career as a Business Management graduate. Combining insights from visiting employers with structured employability preparation, the module focuses on two interconnected themes: Opportunity Awareness, exploring the career opportunities available to you as a Business Management graduate, and Self-Awareness, reflecting on your personal interests, motivations, values, and skills. You will also be introduced to the graduate labour market and the careers information, resources, and support available to you throughout your studies.
By the end of this module, you will be able to:

• Demonstrate an awareness of your own skills, interests, values, and preferences, and begin to form clear career preferences through career exploration
• Begin to develop a career planning action plan for the remainder of your time at university
• Utilise careers information and resources effectively -Engage with the graduate labour market and the career management process
• Produce a graduate style CV and cover letter using appropriate language and format in preparation for internship applications

Programme structure: We continually review and enhance our curriculum to ensure we are delivering the best possible learning experience, and to make sure that the subject knowledge and transferable skills you develop will prepare you for your future. The University will make every reasonable effort to offer programmes and modules as advertised. In some cases, changes may be necessary and may result in new modules or some modules and combinations being unavailable. Not all optional modules are available every year.

Accounting Information Systems and Auditing

In this module, you will gain an overview of the design and main features of accounting information systems (AIS), exploring the methods organisations use to meet the financial information needs of both external parties and management. You will examine the systems used for collecting, recording, and storing transaction data, the role of internal controls, and the principles of effective AIS design. The module also introduces you to auditing, covering the regulatory framework, audit planning, systems auditing, and substantive testing.
By the end of this module, you will be able to:

• Identify and articulate the key elements of an accounting information system
• Document an AIS using flowcharts
• Understand and appraise the main design features of an AIS and how these features support the correct and appropriate recording of accounting information
• Appreciate the role of information technology in the financial accounting function
• Identify the business cycles within an organisation and understand how an AIS serves those cycles
• Identify and evaluate the risks associated with growing organisational dependence on information technology
• Demonstrate awareness of the basic techniques used in the conduct of an audit and understand how an audit works in practice

Principles of Financial Accounting

In this module, you will examine the main features of financial reporting by companies, including the regulatory requirements and conceptual bases associated with these, with particular attention to the International Financial Reporting Standards (IFRS). You will engage with both practitioner and academic literature on financial reporting, devoting time to problem areas and specific reporting topics of current interest and concern. By the end of this module, you will be able to:

• Demonstrate awareness of the accounting methods available and, drawing on underlying concepts, analyse why particular methods may be more appropriate than the alternatives in given reporting situations
• Identify the key requirements of International Accounting and Financial Reporting Standards relating to the specific issues covered in the module
• Apply accounting reporting principles and techniques appropriate to a range of specific situations examined in the module
• Understand how accounting information fits into the financial environment and financial markets in which companies operate, and appreciate the limitations of such information

Management Accounting for Business Decisions

In this module, you will be introduced to the use of management accounting information for management purposes. You will examine cost-volume profit analysis, the concepts of direct and indirect costs, and a range of costing methods. You will also explore the importance of budgets to organisations and their impact on performance.
By the end of this module, you will be able to:

• Describe the role of management accounting in an organisation
• Identify different elements of cost behaviour and explain their implications for decision making
• Apply management accounting techniques including budgeting and activity-based costing
• Understand the potential motivational and organisational effects of management accounting and accounting systems

Employability & Careers II

In this module, you will build on the foundational employability knowledge and skills developed in your first year, progressing your preparation for the graduate job market. You will deepen your career research skills, develop your professional network, and refine the practical tools and techniques needed to compete effectively for graduate roles.
By the end of this module, you will be able to:

• Research different career paths and identify the education and experience required for each profession
• Build and develop professional relationships and utilise networking opportunities, including through social media platforms
• Prepare effectively for job interviews through practice, feedback, and an understanding of the questions and formats you are likely to encounter
• Search for job opportunities, tailor your CV and cover letter for specific roles, and make effective use of online job search resources
• Establish a professional online presence through personal branding, social media channels, and portfolio development

Principles of Finance

In this module, you will explore the theory and practice of financial decision making, developing the skills to address the practical financial problems that both firms and individuals are likely to confront. You will cover the fundamentals of project evaluation, examine the notion of risk and its role in investment decisions, explore the methods used to manage risk, and consider how firms raise funds to undertake their investments.
By the end of this module, you will be able to:

• Assess investment projects using capital budgeting techniques and understand the challenges associated with applying such techniques in practice
• Understand the relationship between risk and required return and interpret the capital asset pricing model
• Understand the concept and practical implications of market efficiency and provide both rational and behavioural explanations of selected market anomalies
• Interpret the determinants of a firm’s capital structure choice and payout policy
• Demonstrate a basic understanding of futures and forwards contracts and the payoffs of simple options

Employability and Careers II

In this module, you will build on the foundational employability knowledge and skills developed in your first year, progressing your preparation for the graduate job market. You will deepen your career research skills, develop your professional network, and refine the practical tools and techniques needed to compete effectively for graduate roles. By the end of this module, you will be able to:

• Research different career paths and identify the education and experience required for each profession
• Build and develop professional relationships and utilise networking opportunities, including through social media platforms
• Prepare effectively for job interviews through practice, feedback, and an understanding of the questions and formats you are likely to encounter
• Search for job opportunities, tailor your CV and cover letter for specific roles, and make effective use of online job search resources
• Establish a professional online presence through personal branding, social media channels, and portfolio development

Principles of Finance

In this module, you will explore the theory and practice of financial decision making, developing the skills to address the practical financial problems that both firms and individuals are likely to confront. You will cover the fundamentals of project evaluation, examine the notion of risk and its role in investment decisions, explore the methods used to manage risk, and consider how firms raise funds to undertake their investments.
By the end of this module, you will be able to:

• Assess investment projects using capital budgeting techniques and understand the challenges associated with applying such techniques in practice
• Understand the relationship between risk and required return and interpret the capital asset pricing model
• Understand the concept and practical implications of market efficiency and provide both rational and behavioural explanations of selected market anomalies
• Interpret the determinants of a firm’s capital structure choice and payout policy
• Demonstrate a basic understanding of futures and forwards contracts and the payoffs of simple options

Statistical Methods for Business

In this module, you will develop both the theoretical understanding and practical skills needed to work with data using R. You will explore and summarise data, examine probability, sampling, and confidence intervals to understand uncertainty and variation, and learn how to test claims and compare groups across different data types. In the final weeks, you will build and evaluate regression models to investigate how different factors are linked.
By the end of this module, you will be able to:

• Apply concepts of probability, sampling, and confidence intervals to quantify uncertainty and variation in data
• Select and apply appropriate statistical tests to test claims and compare groups, including categorical data
• Build, interpret, and evaluate regression models to analyse relationships between variables
• Select appropriate statistical methods for a given analytical context and communicate findings clearly to support business decision making

Entrepreneurial Mindset

In this module, you will develop your entrepreneurial mindset through an active pedagogy of vicarious learning. You will also develop an understanding of how entrepreneurs learn and develop their mindset, with the aim of provoking reflection on your own mindset in the context of your professional career.
By the end of this module, you will be able to:

• Demonstrate a detailed understanding of the core dimensions that constitute the entrepreneurial mindset
• Recognise the core dimensions of the entrepreneurial mindset across a range of entrepreneurial contexts, including startups, small and large organisations, charities, social enterprises, and governments
• Conduct an interview with an entrepreneur confidently within an academic or professional context

Optional Modules (to choose 2 from)

• The Changing Role of Management
• Microeconomic Analysis
• Social Media Marketing
• Techniques for Management Decision Making
• Spreadsheet Modelling for Management
• Introduction to Operations Management

Programme structure: We continually review and enhance our curriculum to ensure we are delivering the best possible learning experience, and to make sure that the subject knowledge and transferable skills you develop will prepare you for your future. The University will make every reasonable effort to offer programmes and modules as advertised. In some cases, changes may be necessary and may result in new modules or some modules and combinations being unavailable. Not all optional modules are available every year.

Financial Accounting I

In this module, you will examine accounting for complex entities, addressing the concepts, issues, and techniques relevant to modern accounting theory. You will explore accounting for business combinations, goodwill, and strategic investments including associates and joint ventures, as well as other aspects of consolidation and foreign currency translation.
By the end of this module, you will be able to:

• Understand and carry out basic technical procedures relating to group accounting, associates, joint ventures and foreign currency translation
• Demonstrate an overview of the relevant international accounting standards and an understanding of developments and changes brought about by international standards
• Interpret the meaning and composition of accounting numbers in consolidated financial statements and analyse the effects of changes in underlying data
• Understand how underlying financial and business objectives can affect accounting choices

Corporate Finance

In this module, you will build on and extend the concepts covered in your previous financial management studies, developing the knowledge and skills to apply corporate finance techniques to real world situations. You will examine a range of major topics including capital budgeting, capital structure, corporate valuation, real options, corporate restructuring, mergers and acquisitions, and corporate governance.
By the end of this module, you will be able to:

• Demonstrate familiarity with the conflicting objectives affecting capital structure decisions
• Understand the various financing instruments available to firms
• Value new investment projects under leverage
• Identify option features in corporate decisions and value those options

Advanced Management Accounting

In this module, you will extend your understanding of management accounting, exploring both specialised techniques and the particular contexts in which they are applied. You will be introduced to quantitative methods including simple and multiple regression, and will cover topics such as advanced activity-based costing, customer profitability analysis, pricing for profitability, and flexible and activity-based budgeting.
By the end of this module, you will be able to:

• Synthesise, evaluate, and articulate the role of the management accountant and understand the skills required to perform this role effectively
• Understand, apply, and evaluate the range of advanced techniques available to management accountants, with particular emphasis on those used in management decision making
• Explain the use of management control systems and evaluate the use of budgeting as a management control
• Select appropriate management accounting techniques across a range of contexts, including their use in a strategic context, and summarise the advantages and disadvantages of these techniques with reference to real world examples and accounting literature

International Financial and Risk Management

In this module, you will develop the knowledge and skills relevant to financial management in a multinational setting. You will examine the relationships between exchange rates, interest rates, and inflation rates, and explore forward, futures, and options markets and corporate exchange rate risk management.
By the end of this module, you will be able to:

• Provide reasoned analyses of developments in international financial markets
• Demonstrate familiarity with the valuation of foreign exchange futures, options, and other related financial instruments
• Understand the objectives of exchange rate and other forms of risk management
• Demonstrate familiarity with the fundamentals of financing and investing in international financial markets

Financial Accounting II

In this module, you will critically evaluate advanced financial accounting issues within the international accounting context, with a focus on International Financial Reporting Standards (IFRS) and relevant comparisons to US GAAP. You will examine the accounting treatments of taxation, pensions, share based payments, and financial instruments, and engage with theoretical and empirical research on issues of relevance to accounting practitioners and regulators.
By the end of this module, you will be able to:

• Analyse why accounting rules and financial accounting regulation exist and identify the incentives of the different parties involved in accounting
• Explain analytical representations of accounting rules and contracts that include accounting numbers
• Explain the impact of accounting principles and bases on measurement in corporate reporting, including fair value measurement
• Formulate and evaluate accounting and reporting policies appropriate to a range of scenarios examined in the module
• Explain how different methods of recognising and measuring assets and liabilities can affect reported financial performance
• Apply, explain, and appraise accounting standards relating to employee remuneration, including short-term and long-term employee compensation, retirement benefits, and share based payment
• Understand how current and deferred tax is recognised and appraise the relevant accounting standards
• Evaluate alternative accounting treatments using relevant accounting concepts to assess choices in accounting methods

Optional Modules (to choose 3 from)

• Principles of Strategic Management
• Sustainability, Values and Ethics
• Rethinking Leadership
• Business and Management in the 21st Century: central questions and evaluations

Programme structure: We continually review and enhance our curriculum to ensure we are delivering the best possible learning experience, and to make sure that the subject knowledge and transferable skills you develop will prepare you for your future. The University will make every reasonable effort to offer programmes and modules as advertised. In some cases, changes may be necessary and may result in new modules or some modules and combinations being unavailable. Not all optional modules are available every year.

Teaching is delivered via a combination of lectures, small group workshops and group-based tutorial coursework (oral and written presentation).

Assessment is through examinations, essays, projects, and oral presentations at both the individual and group levels.

You will be encouraged throughout to undertake independent study to supplement what is being taught/learnt and to broaden your personal knowledge.

BSc (Hons) Business Management with Accounting and Finance students will receive their degrees from Lancaster University in the UK.

The degree is accredited by globally recognised accountancy body – Association of Chartered Certified Accountants (ACCA). Graduates will be awarded seven out of nine exemptions from ACCA professional examinations.

Students interested in pursuing the full ACCA qualification should register with ACCA as a student member as the first step.

A degree in management (with accounting and finance) will place students well for careers in a wide range of businesses. Possible careers could be in the following areas:

• Accounting: graduates employed as accountants would be responsible for maximizing profitability for their clients or employers. Students could also study further to get ACCA or CIMA qualification and gain chartered accountant status, who would be qualified to deal with tax returns and auditing, as well as offering financial advice.
• Banking: This degree will provide students with valuable skills to go into banking and economic analysis, in the business/commercial sector and retail.
• Stock Broking: Accounting and finance career prospects go far beyond digits and analysis. Graduates who enjoy dealing with people (a good negotiator and communicator) coupled with the skills from this degree may selling stocks.
• Financial Management: Knowledge gained in money management, savings and investments in this degree will place students well to become financial advisors, some specialising in mortgages and pensions.
• Tax advisors: While the degree does not provide specific knowledge on the extremely varied areas of taxation, graduates will be positioned well to develop these skills.
• General management and clerical roles: the degree provides insights in to marketing and human resources.

Students who decide not to go down an Accounting or Finance career will be well positioned to apply for positions in general management and clerical positions. They are also qualified for sales and marketing, advertising, human resources and people management.