Accounting and Finance and Economics

Finance (International Accounting) - MSc

2018

In today’s competitive global environment, employers are increasingly selective in their search for competent accounting and finance professionals. Our MSc in Finance (International Accounting) is specially designed to develop your international accounting knowledge and skills to a high professional standard.

2018

Overview

This one-year, full-time programme is designed to meet market needs through the preparation for, and development of, your career in international accounting and finance. It equips you with the professional and research skills to pursue careers in a wide range of institutional settings such as academia, auditing, banking, financial institutions, management consultancy and organisational management.

The programme is well suited to students who have some knowledge of accounting and finance, and who wish to expand their skills and understanding to an advanced level. It is also suitable for students with a good academic standing from a related discipline, who wish to enhance their careers in international accounting and finance or for those interested in pursuing research or further study in this area.

Teaching in the School is informed by the latest research and the changing needs of the global business environment. Our international teaching staff are all experts in their field of study and are regularly published in leading journals worldwide. They guide and support your learning, not only in current best practice in your chosen area of study, but also in emerging new concepts and theories, and the latest business thinking.

Quants workshop

Kent Business School offers an optional 1½-week refresher workshop in Mathematics, Statistics and Excel, prior to the start of this programme. See Study Support for full details.

Funding opportunities

The Business School has a wide range of funding opportunities for postgraduate students, which include Scholarships, Bursaries, the Double Loyalty Scheme for University of Kent undergraduates and the KBS Early Bird Scheme. The Early Bird equates to a 10% discount on tuition fees.

For more information on funding available from the University of Kent, please visit the Student Funding page.

Kent Business School (KBS)

With over 25 years’ experience delivering business education, Kent Business School is ranked as a top 20 UK business school, both for the standard of our teaching and student satisfaction. Our portfolio of postgraduate programmes demonstrates the breadth and depth of our expertise. Academic research and links with global business inform our teaching, ensuring a curriculum that is relevant and current. We also hold a number of accreditations by professional bodies.

Studying at KBS gives you the opportunity to increase your employability with real-life case studies, a student council and a business society. We have strong links to local and national organisations providing opportunities for projects, internships and graduate placements. The School attracts many high-profile speakers from industry and last year included visits and lectures from staff of the Bank of England, BAE Systems, Barclays, Lloyds Insurance, Cummins, Delphi and Kent County Council.

The School currently has 60 PhD students, who form a dynamic and close-knit research community.

National ratings

In the Research Excellence Framework (REF) 2014, we were placed 25th (out of 101 institutions) in the UK for research intensity in business and management studies and 98% of our research was judged to be of international quality. The School’s environment was judged to be conducive to supporting the development of research of international excellence.

The School was also ranked 24th for its breadth and depth of research across the whole community of research active staff by the Association of Business Schools.

Course structure

Modules

The course structure below provides a sample of the modules available for this programme. Most programmes require you to study a combination of compulsory and optional modules. You may also have the option to take ‘wild’ modules from other programmes offered by the University in order that you may explore other subject areas of interest to you or that may further enhance your employability.

The following modules are offered to our current students. This listing is based on the current curriculum and may change year to year in response to new curriculum developments and innovation:

Modules may include Credits

This module covers:

• The regulation of financial reporting

• The conceptual framework of financial reporting

• Consolidation accounting

• Foreign activities

• Current assets and liabilities

• Non-current assets

• Leasing

• Off-balance sheet financing

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15

The module provides a comprehensive understanding and critical evaluation of management accounting techniques when employed for management control and performance measurement and management purposes.

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15

The module will cover the following topics:

• The Risk-Return Relationship

• The Arbitrage Pricing Theory

• Multifactor Asset Pricing Models

• Dividend Policy

• Mergers and Acquisitions

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15

This module will cover the following topics:

• Investment Appraisal Techniques and Decisions

• Portfolio Theory

• The Capital Asset Pricing Model

• Stock Market Efficiency

• Sources of Finance

• Capital Structure

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15

The module provides an understanding of the ethics of cultural, economic, organisational and regulatory issues that arise in an international setting and of the diverse range of methods employed for ethical decision-making by multinational enterprises.

• Ethical theories, limitations of ethical theories

• Ethics of self, national and global interest

• Cultural context based ethics

• Ethics of financial and taxation decision making

• Moral imperatives for global financial decisions

• Corporate social responsibility

• UN global compact principles in relation to human rights

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15

This module considers some of the most important and contentious international accounting standards as debates about the value and appropriateness of different approaches of accounting for business combinations, financial instruments and pension obligations continue to evolve. The module content will include:

• Acquisition accounting for different methods of business expansion/combinations;

• Accounting for partnerships;

• Multi-national accounting in the context of foreign currency transactions;

• Financial instruments;

• Share capital and distributable profits;

• Employee benefits.

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15

This module develops the necessary knowledge and skills for students to be able to successfully complete a business report proposal. Topics to be covered include:

• Choosing a company for analysis

• Identifying suitable accounting issues relevant to the chosen company

• Searching and reviewing the literature and Bloomberg

• Choosing suitable methods and approaches for analysing the chosen company

• Preparing the business report proposal

• Structuring the business report

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15

• Financial markets and their role for economic activity

• Historical overview of financial markets

• Financial markets in US, UK, Europe and Japan

• Emerging financial markets (BRICS)

• Equity

• Bonds

• Derivatives

• Alternative Investments

• Credit Markets

• Asset Backed Securities and securitization

• Energy markets (oil, gas, CO2, weather, electricity)

• Exchange rate markets

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15

This module analyzes the key financial decisions made by multinational companies (MNCs) and provides international perspectives to financial problems facing multinational corporations. It examines topical areas, such as international financial environment; international money and capital markets; analysis of foreign exchange risk exposure. It also covers the international monetary system, and the coordination of international economic policy. More specifically, topics are:

• Multinational Financial Management

• International Financial Markets

• Exchange Rate Determination

• Government Influence to Exchange Rates

• International Arbitrage and Interest Rate Parity

• Relationships among Inflation, Interest Rates, and Exchange Rates

• Forecasting Exchange Rates

• Measuring Exposure to Exchange Rate Fluctuations

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15

The module provides an understanding of a range of auditing topics together with an

appreciation of the regulatory and social environment within which auditing process takes

place. It includes: an examination of the principles which underpin the auditing process; an

introduction to auditing theory and an appreciation of the regulatory and social environment

of auditing. As far as possible the coverage of these areas is integrated so that, for example,

the nature of the auditing environment is explored within the context of the technical issues

and problems with which it must cope.

Specific coverage of topics includes:

the nature, importance and objectives and underlying theory of auditing;

the statutory and contractual bases of auditing, including audit regulation and

auditors' legal duties and responsibilities;

truth and fairness in financial reporting, materiality and audit judgement;

the historical development of auditing;

audit independence;

the nature and causes of the audit expectation gap;

auditors' professional ethics and standards;

the nature and extent of auditors' legal liability, including liability under the trade

practices legislation;

audit quality control, planning, programming, performance, supervision and review;

principles of internal accounting control and internal control;

the nature and types of audit evidence;

systems based auditing and the nature and relationship of compliance and

substantive testing;

audit risk and statistical sampling;

audit reporting.

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15

The module will cover:

A framework for business analysis and valuation;

Financial analysis/ratio analysis;

Valuation theory and concepts;

Quality of earnings;

Security analysis;

Credit analysis and financial distress prediction;

Mergers and acquisitions.

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15

The course will cover the following topics:

• Taxonomy of Risks

• Essential Financial Products

• Introduction to Regulation

• Modelling Portfolio Risk

• Market Risk and VAR

• Credit Risk

• Risk-Adjusted Performance Measures

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15

By applying appropriate research methods, students employ relevant accounting techniques to evaluate a chosen company. Analysis about the company’s accounting practices and financial performance is then drawn together and presented in a report format.

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45

Teaching and Assessment

The programme involves a taught and a project component.

The taught programme is assessed by a mixture of coursework assignments throughout the year, and by examinations in May and June.

Once these are completed, you work full-time on the project component and write a dissertation based on this, applying techniques and insights presented in the programme to a specific problem.

Programme aims

This programme aims to:

  • provide you with an advanced conceptual understanding of the key issues in international accounting and finance
  • provide you with an awareness of up-to-date practices in international and domestic accounting
  • provide you with knowledge of research methodologies adopted in empirical research and the ability to critically evaluate concepts and theories
  • provide you with the skills to test and evaluate theoretical models
  • provide preparation for and/or development of a career in accounting and finance by developing skills at a professional or equivalent level, or as preparation for research  or further study in the area
  • develop an appropriate range of cognitive, critical and intellectual skills, research skills and relevant personal and interpersonal skills
  • provide teaching and learning opportunities that are informed by high-quality research and scholarships, from within the Kent Business School and elsewhere
  • foster the enhancement of life-long learning skills  and personal development so as to be able to work with self-direction and originality and to contribute to business and society generally
  • develop your ability to conduct independent self-directed research.

Learning outcomes

Knowledge and understanding

You will gain knowledge and understanding of:

  • complex issues in international accounting and finance
  • international aspects of accounting and finance and their role within organisations
  • principles and techniques applied in international accounting and finance
  • preparation of financial reports and the evaluation of financial information
  • preparation, analysis and evaluation of financial statements
  • the various approaches to research in accounting and finance
  • the application of different models and methods applied to solve problems in accounting and finance
  • interpretation of financial statements and international differences in financial reporting
  • quantitative methods and their application to analysing financial data.

Intellectual skills

  • Critical thinking and creativity. Including the capability to identify assumptions, evaluate statements, and generalise appropriately (SB3.10)
  • Ability to solve complex problems and make decisions (SB3.10)
  • Ability to select, organise, develop and synthesise complex material (SB3.10)
  • Analytical skills necessary for the analysis of problems and the identification of appropriate solutions.(SB3.10)
  • Ability to plan work and study independently and use relevant resources in a away which reflects best current practice and anticipated future practice.(SB3.10)
  • Plan, structure, and produce a dissertation (SB3.10)

Subject-specific skills

You gain subject-specific skills in:

  • the ability to interpret financial statements
  • problem solving and decision making: establishing criteria and applying appropriate decision techniques including identifying, formulating and solving problems
  • numeracy and quantitative skills
  • the ability to undertake research in international accounting and finance issues
  • the ability to analyse important issues relevant for companies’ financial decisions.

Transferable skills

You will gain the following transferable skills:

  • the development of numeracy and quantitative skills
  • communication skills: listening, oral, and written communication using a range of media
  • effective use of communication and information technology
  • the ability to undertake independent and self-managed learning
  • a capacity for self-development and continuous learning.

Careers

Our finance programmes equip you with an impressive set of skills and specialist knowledge. In addition, inbuilt practical experience will help you succeed in a competitive job market.

This programme is ideal preparation for a career with investment and commercial banks, insurance companies, specialised financial institutions, trading companies and financial management roles in other industries.

Careers in finance continue to provide exceptional earning potential in the UK and globally (The very highest-paying job specialisms in the finance sector include structurer, trader, M&A and leveraged finance, 2 November 2015, CityA.M.).

Our students have an excellent record for employment. Recent graduates are now working in top companies including AXA, BNP Paribas, FactSet, HSBC, PwC, Santander, Thomson Reuters, USB Investment Bank and Zurich Financial Services.

Professional recognition

Kent Business School have partnered with the Chartered Institute of Marketing (CIM), the leading professional body for marketers worldwide, to give you the unique opportunity to gain highly sought after CIM qualifications alongside the MSc in Marketing through their Graduate Gateway.

Kent Business School is a member of the European Foundation for Management Development (EFMD) and the Chartered Association of Business Schools (CABS); and the Kent MBA is an Association of MBAs (AMBA) accredited programme. In addition, KBS have accreditations with The Chartered Institute of Personnel and Development (CIPD) and The Chartered Institute of Logistics and Transport (CILT).

KBS is a signatory of the United Nation's Principles for Responsible Management Education (PRME), which provides a global network for academic institutions to advance corporate sustainability and social responsibility.

Study support

Quants workshop

Kent Business School (KBS) offers an optional 1½-week refresher quantitative skills workshop in Mathematics, Statistics and Excel, prior to the start of your main MSc programme. The workshop is offered at no extra tuition cost; however, students will need to make their own accommodation arrangements and register to attend via the online booking form.

The workshop will refresh your knowledge of the quantitative concepts and techniques needed for your Master's studies. It is organised as a series of short lectures and practical workshops, and you will have the opportunity to go through a series of theoretical and practical exercises with staff from the School. There will be no assessment at the end of the course.

If you have accepted a formal offer for this programme and you would like to attend the workshop, please register to secure your place.

Full details and how to register.

Postgraduate resources

Kent Business School currently occupies a purpose-designed building consisting of executive learning facilities with wireless provision throughout. Each postgraduate student is assigned a specific member of academic staff who acts as your first point of contact throughout your studies. There is a lively postgraduate community at the School, with plenty of space to relax and interact with your fellow students and our academic staff.On the Canterbury Campus, Kent Business School will soon be moving into a new academic building, known as The Sibson Building, a vibrant new campus destination.

New academic facilities and social spaces for Kent Business School at Medway have also recently opened. The Sail and Colour Loft features six seminar rooms, a group learning room, a computer suite, quiet study areas, student social spaces and a special reference collection of core text books. Kent’s libraries offer over a million books, periodicals and journals, and we have subject-specific librarians to help you secure access to the information you need.

We also offer excellent teaching facilities with tailor-made specialist resources.Postgraduate students can access a range of specialist software packages used in quantitative analysis and in finance. Most academic schools have specific study areas for postgraduates and there is also a general postgraduate common room with work area.

An international focus

Kent Business School has more than 50 internationally recognised academics from 22 different countries. Most of our teaching faculty are involved with researching the latest issues in business and management, working with organisations to provide new insight for business leaders and policymakers. Their knowledge and findings feed into the programmes to ensure they are both cutting-edge and globally relevant.

Worldwide partnerships

Kent Business School has close links with: ifs (Institute of Financial Services); dunnhumby, who partner the Consumer Insight Service in the Centre for Value Chain Research; Universiti Teknologi Malaysia, where we have strong research links in tourism management; Deggendorf University of Applied Sciences (Germany); Chinese Academy of Sciences; Hong Kong Baptist University, with whom we offer a joint Master’s programme in Operational Research and Finance Business Statistics; University of Castellanza (Italy); University of the Littoral (France); University of Lille (France); University of Rouen (France); University of Deusto (Spain); and University of Tasmania (Australia).

Dynamic publishing culture

Staff publish regularly and widely in journals, conference proceedings and books. Among others, they have recently contributed to: Journal of International Financial Markets, Institutions and Money; International Journal of Finance & Economics; Journal of Banking and Finance; European Journal of Operational Research; Review of Quantitative Finance and Accounting; Journal of Economic Dynamics and Control; European Journal of Finance; Journal of Asset Management; International Review of Financial Analysis.

Global skills

All students registered for a taught Master's programme are eligible to apply for a place on our Global Skills Award Programme. The programme is designed to broaden your understanding of global issues and current affairs as well as to develop personal skills which will enhance your employability.  

Global Skills Award

All students registered for a taught Master's programme are eligible to apply for a place on our Global Skills Award Programme. The programme is designed to broaden your understanding of global issues and current affairs as well as to develop personal skills which will enhance your employability.  

Entry requirements

Qualification requirements

Students who wish to apply for a higher degree should have a good honours degree from the UK (minimum 2:2) or equivalent internationally recognised qualifications in a finance, accounting, economics, business, mathematics or engineering related discipline, with at least 60 credits in accounting related modules.

Applicants without an honours degree may also be considered on the basis of work experience, professional qualifications and the relevance of the programme to their current professional role.

All applicants are considered on an individual basis and additional qualifications, and professional qualifications and experience will also be taken into account when considering applications. 

International students

Please see our International Student website for entry requirements by country and other relevant information for your country. 

English language entry requirements

The University requires all non-native speakers of English to reach a minimum standard of proficiency in written and spoken English before beginning a postgraduate degree. Certain subjects require a higher level.

For detailed information see our English language requirements web pages. 

Need help with English?

Please note that if you are required to meet an English language condition, we offer a number of pre-sessional courses in English for Academic Purposes through Kent International Pathways.

Research areas

Research activities at Kent Business School are broadly organised into six areas;

Our Accounting group has an international reputation for its research on public sector critical accounting and accounting history. Recent topics include privatisation, health and New Public Management.

The Finance group addresses academically interesting and practical contemporary issues in finance and banking. Staff pursue research in several areas, including: derivatives pricing and risk management; financial econometrics; international banking; financial regulation; corporate finance; asset pricing and real-estate modelling.

For more information, see our Applied Research Centre:

Staff research interests

Full details of staff research interests can be found on the School's website.

Dr Li-cheng Chang: Senior Lecturer in Financial Accounting

Institutional theory and organisational change; performance measurement and balanced scorecard; behavioural aspects of budgetary and management control; public sector accountability.

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Professor Warwick Funnell: Professor of Accounting and Finance

Public sector accounting; public sector accountability; accounting history; constitutional accountability. 

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Dr D Godsell: Senior Lecturer in Financial Accounting

Auditing, Auditing and corporate governance, Auditors’ legal responsibilities.

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Dr Mohammad Hasan: Senior Lecturer in Finance

Financial economics, international finance, macro and monetary economics.

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Dr Abdullah Iqbal: Senior Lecturer in Accounting & Finance

Market-based accounting research; corporate finance; corporate governance; earnings management; operating and stock return performance; seasoned equity offerings; initial public offerings; Islamic finance.

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Professor Robert Jupe: Professor of Accounting and Public Management

Rail privatisation; Railtrack; Network Rail; nuclear privatisation; British Energy; London Underground privatisation; accounting history.

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Dr Ortenca Kume: Lecturer in Finance

Credit risk; Mutual fund performance; Behavioural finance; Capital structure.

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Mr Arvind Lall: Lecturer in Taxation and Ethics

Tax planning and business start up's. (Corporate) tax avoidance.

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Professor Roman Matousek: Professor of Banking and Finance

Financial Institutions and Services, Banks, Financial Crises, Ratings and Ratings Agencies, Regulation, Corporate Governance, Monetary Policy, Central Banking, and the Supply of Money and Credit.

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Dr David Morelli: Senior Lecturer in Finance and Financial Management

Examining the behaviour of securities in the equity markets, analysing potential determinants of security price movements along with testing various pricing models. Integration of the global capital markets.

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Dr Ekaterini Panopoulou: Reader in Finance

Financial Econometrics, Time Series (Modelling and Forecasting), Financial Economics and International Finance

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Mrs Angela Ransley: Senior Lecturer in Finance and Financial Management

Financial management; The role of management accounting in decision making; Structures of corporate finance; Financial markets.

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Dr Liyan Tang: Lecturer in Accounting

Pension accounting, using the expected cash flows (ECF) approach in estimating pension liabilities, analysing the debt equivalence of unfunded pension obligations, and examining alternative measurement bases of pension accounting in simulation analyses. Financial sustainability in the public sector; the impact of hedge accounting rules on risk management practices by multinationals.

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Professor Radu Tunaru: Professor of Finance

Property derivatives; financial engineering; financial mathematics; MCMC applications in finance; statistical properties of risk measures; pricing and hedging of reverse mortgages; calibration of market price of risk with stochastic filtering methods; Markov Chain Monte Carlo Methods for risk management in asset-backed securities market; dependence modelling for portfolio analysis.

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Dr Nikolaos Voukelatos: Lecturer in Finance

Econometrics; risk-neutral densities; efficiency of options markets; forecasting; conditional variance models.

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Fees

The 2018/19 annual tuition fees for this programme are:

Finance (International Accounting) - MSc at Canterbury:
UK/EU Overseas
Full-time

For students continuing on this programme fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* If you are uncertain about your fee status please contact information@kent.ac.uk

General additional costs

Find out more about general additional costs that you may pay when studying at Kent. 

Funding

Search our scholarships finder for possible funding opportunities. You may find it helpful to look at both: