| Unit name | Accounting and Capital Markets |
|---|---|
| Unit code | ACFIM0036 |
| Credit points | 20 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
| Unit director | Professor. Korczak |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
None |
| Units you must take alongside this one (co-requisite units) |
None |
| Units you may not take alongside this one |
None |
| School/department | School of Accounting and Finance - Business School |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
Students learn what the role of information in capital markets is. In particular, the unit aims to provide a critical examination of the role of accounting information in capital markets and to focus on the theoretical and empirical evidence on how accounting information impacts and is used in investment decisions. In addition, the module examines how accounting can resolve information asymmetries between capital providers and management, thus addressing the stewardship and contracting roles of accounting information.
How does this unit fit into your programme of study
This unit follows on from all the TB1 units showing students how knowledge on financial reporting and methods of financing, and understanding of methodologies, is brought together to assess the role of accounting information, for decision making for capital providers and for contracting purposes. The unit also complement and works well with TB2 optional units that focus on sustainability reporting and all aspects of corporate finance and portfolio management.
An overview of content
The unit covers a range of theories underpinning financial accounting and covers a range of empirical problems within the role of accounting as a source of information for decision making as well as the stewardship role of accounting. The empirical topics are focused within the market-based accounting stream of research and cover: decision usefulness of accounting information, value relevance of accounting information, the measurement approach to decision usefulness, contracting approach to decision usefulness, analysis of conflict between different group of stakeholders and their needs for accounting information, executive compensation, and financial reporting standard setting process.
How will students, personally, be different as a result of the unit
Students gain theoretical and empirical knowledge that enables them to understand, analyse and critically assess past and current situation in the capital markets as well as build predictions in the context of academic research and practice. As such students increase their knowledge and intellectual abilities. The analytical skills and ability to critically evaluate forms part of transferable skills that allows them to apply in the context of accounting and capital markets at in other units and when pursing work towards MSc dissertation at university and then use the knowledge, skills and abilities in practice beyond the university degree. Engagement encouraged during contact hours supports improvement of effective communication skills and collaboration helping students become confident, resilient, and self-aware individuals. Work that students are expected to prepare as part of the formative assessment and summative assessment helps them gain self-motivation and become responsible for their tasks and jobs.
Learning Outcomes
How you will learn
20 hours of lectures – provide theoretical and empirical foundations of each topic
5 hours small group classes (tutorials) – supports learning topics introduced during lectures and allows for focused work that leads to gaining knowledge and skills necessary for summative assessment. See previous section for more detail.
The work assigned and the learning approach used offers authenticity, is progressive and inclusive. Theoretical concepts are applied to real-world scenarios with a focus on research papers addressing relevant issues. This approach ensures practical application, using real-world examples. The learnings process starts from gaining knowledge of theoretical concepts and then linking it to real life examples and further to application to large data that links theory with empirical work that leads to inferences about real world problems. The transferability of acquired skills to diverse problem-solving scenarios, particularly those involving extensive data, is emphasized. The assigned work has an individual approach before classes and teamwork during classes. The design of the formative assessment helps student self-motivation and encourages responsibility before classes and support students’ development of knowledge and intellectual abilities both before and during classes. The teamwork in the class is important for development of collaboration and communication skills and helps students build their confidence and resilience.
Tasks which help you learn and prepare you for summative tasks (formative):
Tutorials:
Students are required to do assigned reading and based on the reading provide written answers to questions that aim to prepare students for the summative assessment.
The formative assessment adopts a progressive structure, commencing with foundation skills such as reading academic papers and advancing to more complex tasks like paper description, understanding economic context, analysing research methodologies, and culminating in critical paper assessment. This sequential approach equips students for the composition of a summative essay.
Students are encouraged to submit their assignments. Feedback on written submissions is delivered during tutorials, encompassing strengths, weaknesses, and specific areas for improvement. During tutorials, collaborative group work is emphasized, with continuous assessment of group progress and individual progress. Feedback is provided to each group, supplemented by encouragement for peer assessments, both individual and group-based.
The formative assignments are biweekly, students receive the task sufficiently in advance to allow them for preparations.
Tasks which count towards your unit mark (summative):
100% individual essay, 3,500 words. The essay is a critical assessment of published journal article (LO1, LO2, LO3 and LO4).
When assessment does not go to plan
When a student fails the unit and is eligible to resubmit, failed components will be reassessed on a like-for-like basis, a new essay in the same format as the original assessment.
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ACFIM0036).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The assessment methods listed in this unit specification are designed to enable students to demonstrate the named learning outcomes (LOs). Where a disability prevents a student from undertaking a specific method of assessment, schools will make reasonable adjustments to support a student to demonstrate the LO by an alternative method or with additional resources.
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
