AC502 Auditing

• Theory of auditing
• Legal and regulatory framework for auditing in the UK
• Audit methodology, including sampling
• Auditing and information technology
• Current issues and new developments in auditing and the role of an auditor

AC504 Advanced Financial Accounting

• Overview of Accounting Theory
• Conceptual Framework: Objectives; Financial Statements; Elements; Qualitative Characteristics; Recognition; Measurement
• Income Measurement and Accounting for changing prices
• Empirical perspectives
• Role of the regulatory framework in UK corporate reporting
• Financial reporting in practice
• Contemporary issues in corporate reporting

AC507 Accounting for Strategic Management and Control

• Strategic Management and the role of management accounting
• Costs as a strategic management objective (target costing)
• Strategic cost allocation systems (ABC)
• Customer focus (Customer profitability analysis and segmental
  reporting)
• Competitor profitability
• Responsibility accounting
• Performance measurement issues (Transfer pricing, executive
  compensation plans)
• Organisational and behavioural issues
• Accounting systems design
• Application to non profit organizations
• Application to advanced manufacturing technology environments

AC508 Taxation

• The Scheduler System, residence
• Administration and appeals; payment dates; interest and penalties
• Personal computations, allowances, reliefs and charges
• Schedule E: Offices and employment; PAYE; benefits in kind
• Schedule D: Cases 1 and 2: trades and professions; bases of
  assessment; capital allowances and loss relief
• Partnership taxation
• Schedule A: Land property, furnished lettings, furnished holiday
  lettings
• Tax planning for employment
• Corporate tax: imputation system, computation of profits chargeable to CT, pay and file, calculation of liability, small profits and taper relief, distributions and ACT, loss relief
• Capital gains tax: chargeable assets; persons; disposals;
  indexation; chattels and wasting assets; shares and securities;
  principles private residence reliefs; other reliefs
• Tax planning: families, trust and capital taxes
• Critical analysis of the current tax system, possible reforms

AC509 Management Case Studies Analysis

• Introduction to Case Study Methods
• The main elements of the syllabus will change from year to
  year in order to reflect contemporay themes but may include:
  1. Activity based approaches including business processes, reengineering and activity-based costing
  2. Life Cycle Costing
  3. Target Costing
  4. Customer Profitability Analysis
  5. Performance Measurement Systems
  6. Management Control Systems

AC511 Advanced Business Finance

Demonstrate an understanding of the relevant descriptive material, covering financial markets, institutions and instruments.
Demonstrate an understanding of the theory and empirical research. Analyse situations from data provided and calculate relevant parameters.
Explain and evaluate the practical applications of financial theory to financial management.
The topics covered in the unit will include:

• Mergers and takeovers, corporate re-structuring and liquidation
• Advanced topics on capital budgeting
• Dividend policy
• Capital structure
• Capital asset pricing theory: CAPM, APT
• Options, futures, forwards and swaps
• Management of interest rate and currency risk
• Special topics: Small business finance Time diversification

BA530? International Accounting

The topics covered in the unit will include:

• Importance of studying accounting in an international context
• International accounting frameworks/divergent forces
• Analysis of financial reporting practices of selected countries – an example of
• divergent forces in operation
• Influences on analysis of financing reporting in these countries; economic, political,
• legal and institutional, cultural.
• Classification of accounting and reporting systems