40

Ac.F100: Introduction to Accounting and Finance CREDITS

Term: Michaelmas, Lent and Summer Weeks 1-24.

Degrees: BSc Accounting and Finance, BSc Accounting and Management, BSc Accounting, Finance and Mathematics, BSc
Finance, BSc Economics and Finance and BSc / MSci Financial Mathematics..

This course aims to introduce students to studies in both accounting and finance, as well as providing students
an overview of the links between accounting and finance and the wider business world. The course consists of
four distinct parts: (i) financial accounting; (ii) managerial finance; (iii) financial statement analysis; and (iv) the
business environment. Some sections of the course are taught by means of lectures, workshops and tutorials,
whilst other parts of the course are primarily completed through self-study or group working.

The course is designed to act as the foundation for students wishing to undertake future study in the subject
as a majoring student, as well as offering consortial and minoring students an opportunity to gain an overview
of the subject whether they wish to follow further study or not. The course will introduce you to the key
subject areas of financial accounting, finance, financial statements analysis and the related business
environment.

Syllabus Contact time

➢ The basic principles of financial accounting and 48 lecture hours lectures, 24 practical lecture
the techniques used in preparing accounts. hours (of which 5 hours relate to business
environment topics) and 24 workshops (1 hour
➢ The concepts of finance and the operation of
each).
financial markets.
➢ The analysis of businesses financial strategies Assessment
based upon their financial statements; and
➢ 50% coursework – consisting of (i) tests in
➢ How accounting and finance fits into the wider weeks 6, 9, 16 and 20; (ii) a group assignment;
business world. (iii) an individual essay; and (iv) tutorial
preparation.
By the end of the module, you ➢ 50% exam.
should be able to:
Course text
➢ Explain the distinction between internal and
external reporting, and the demands of This module will be run using a variety of
different users of external financial reporting. resources:

➢ Analyse and record basic transactions using Thomas, A. and Ward, A.M. (2020)
double entry book-keeping and to prepare Introduction to Financial Accounting. 9th ed.
McGraw Hill.
balance sheets and profit and loss accounts.
Ross, S. A., Westerfield, R. and Jordan, B. D.
➢ Understand how financial markets work and (2022) Essentials of Corporate Finance. 11th
the importance of financial management. ed. McGraw Hill.
➢ Use financial models to make decisions Note: earlier editions are acceptable.
between competing investments.
You will also require the following:
➢ Use a number of techniques to interpret and
analyse a set of financial statements. Needle, D. and Burns, J. (2019) Business in
Context; an introduction to business and its
➢ Express your understanding of conceptual and environment. 7th ed. Cengage.
practical issues relating to accounting and
finance.
 40
Ac.F101: Quantitative methods for accounting and finance CREDITS
Term: Michaelmas, Lent and Summer Weeks 1-24.

Degrees: BSc Accounting and Finance, BSc Accounting and Management and, BSc Finance.

The finance discipline (and to a lesser degree, the accounting discipline) requires application of a significant
number of often complex quantitative methods. Some examples include discounting, compounding, portfolio
selection, sensitivity analysis, and security valuations. This course therefore aims to introduce major students
to studies in mathematics, statistics and financial markets, all of which are placed into context with the
accounting and finance discipline.

Students will be provided with solid foundations in basic algebra, calculus as well as statistics, in the context of
problem solving in Accounting and Finance. The module will also introduce financial markets and digital
finance.

Syllabus Assessment
➢ Mathematics => including functions, ➢ 30% coursework – consisting of (i) a number of
discounting, logarithms, sequences and series, short multiple choice tests taking place mainly
differentiation, integration, matrices, linear during the Michaelmas term, with an additional
equations and quadratic forms. test in the Lent term; and (ii) a group
assignment.
➢ Statistics => including data presentation,
descriptive statistics, rules of probability, ➢ 70% exam.
discrete and continuous probability
distributions, sampling, hypotheses testing, Technical skills
and linear regressions. Although this course does not require A level
➢ Financial markets and digital finance => Mathematics, it is a very technical, fast paced and
including financial assets and financial markets challenging module. The skills developed are
and how the evolution of the finance function required for your Part II modules. If you require
in a digital era. further support please see the LUMS Maths and
Stats Hub (MASH). There will be weekly MASH
By the end of the module, you sessions you can attend in Michaelmas term to
should be able to help with the pure Mathematics elements of the
module.
➢ understand and apply basic quantitative
techniques in accounting and finance based on The Lent term will use Excel but does not assume
concepts from algebra and calculus. any prior experience.
➢ solve accounting and financial problems using Course text
appropriate mathematical techniques.
For Michaelmas term: Any good
➢ interpret financial data using appropriate Mathematics book – for example. Jacques, I.
statistical tools. (2023) Mathematics for Economics and
Business. 10th ed. Pearson
➢ explain how financial market operate and how
finance is managed in a digital world. For Lent term: Andersen D., Sweeney D.,
Williams T., Freeman J., and Shoesmith E.
Contact time (2017) Statistics for Business and Economics.
4th ed. Cengage Learning.
48 lecture hours of lectures, 34 workshops (1 hour
each), 4 lab sessions (1 hour each) and 2 drop-in
sessions in weeks 17 and 19.
 ZERO
Ac.F150: Professional Skills CREDITS
Term: Michaelmas, Lent and Summer Weeks.

Degrees: BSc Accounting and Finance, BSc Accounting and Management, BSc Accounting, Finance and Mathematics and
BSc Finance.

Graduate recruiters are looking for graduates who can articulate and provide evidence of skills, achievements
and attributes, drawing on both academic and extra-curricular experience. It is increasingly important for
students to have the technical skills but also the softer skills to perform effectively in the workplace. This
module is designed to help students develop skills in communications, team working and relationship building.
The aim is to help students be better prepared when looking for jobs, to sell themselves to prospective
employers and to convince employers they are able to be effective employees. The interactive sessions will
provide the framework to help students plan their future and be more successful in achieving their goals. The
module will form a basis from which students will develop their skills throughout their particular program of
study and upon which skills in all other modules will build. It will help students to find and sustain a career
when they graduate.

Although this is a zero credit module, the skills you will develop are essential employability skills which
employers are seeking from future graduates.

Syllabus ➢ developed core soft skills in areas such as

teamwork, leadership and delivering effective
➢ Skills level assessment and CV writing skills. presentations.
➢ Critical and analytical thinking, reflection and ➢ developed the practical skills sought after by
the ability to summarise business issues & graduate employers in accounting through
models. practical computerised accounting workshops.
➢ Develop a broad appreciation of using a Contact time
computerised accounting.
Approximately 1 hour lecture in Michaelmas term
➢ Making the most of corporate engagement and and 1 hour lecture in Lent term. In the Summer
networking opportunities.
term students receive 1 hour of lectures and three
By the end of the module, you 2 hour workshops using SAGE accounting
should have software.

Students also take part in a careers skills and

➢ a greater awareness of the importance of
development programme. This includes a careers
career planning in Accounting and Finance.
fair with opportunities to discuss graduate training
➢ a greater awareness of the timescales involved with top employers in accounting and finance.
in job hunting in Accounting and Finance. Students also take part in a business simulation
game and group presentations.
➢ extended their reflective approach to learning
and development into career planning.
Assessment
➢ discussed career interests and opportunities
with relevant employers. 100% portfolio consisting of:

➢ learned how to construct an effective CV, ➢ 30% CV submission.

complete application forms, prepare for on-line
tests, and prepare for assessment centres. ➢ 10% Attendance at computer workshops.

➢ had the opportunity to practice employability ➢ 10% Business Game ranking.

skills in a class room environment.
➢ 50% Business Game presentation.
ECON101: Principles of Economics A / ECON102: Principles of
Economics B 40
CREDITS
Term: Michaelmas, Lent and Summer Weeks 1-24.

Degrees: ECON101: BSc Finance and Economics and BSc Accounting, Finance and Mathematics;
ECON102: BSc Accounting and Finance, BSc Accounting and Management and, BSc Finance.

To provide a thorough introduction to the discipline of economics, including a descriptive and analytical
overview of the workings of a modern economy both at the microeconomic level of firms and individuals and
at the macroeconomic level where aggregates such as national income, unemployment and inflation are the
focus of attention.

By the end of this module, students should have a knowledge and understanding of:

➢ Analytical methods, both theory and model based

➢ The relevance of different theoretical approaches to public policy and business problems

Syllabus ➢ Demonstrate a logical argument, analyse and

interpret data and evaluate alternative
➢ Microeconomics – considering the behaviour of perspectives on the basis of objective
individuals and business decisions. For reasoning.
example: supply and demand; elasticity; cost
➢ Communicate and present complex arguments
and production; and competition.
in oral and written form with clarity and
➢ Microeconomics – considering decisions made succinctness.
by countries and governments. For example:
➢ Understand the nature of incentives and
inflation; economic growth; and markets. opportunity costs in decision-making.
➢ Mathematics for Economics.
➢ Think in marginal terms about the trade-offs
By the end of the module, you involved in public policy and business decision
making.
should be able to
Contact time
➢ Engage in abstract thinking by extracting the
essential features of complex systems to 72 lectures and 24 seminars (1 hour each).
facilitate problem solving and decision making.

➢ Engage in deductive and inductive reasoning to Assessment

enhance problem solving and decision-making
➢ 30% coursework – consisting of four tests.
skills.

➢ Bring a range of modelling frameworks to bear ➢ 70% exam (3 hours and 15 minutes).
upon the analysis of public-, corporate- and
Course text
commercial-policy problems.
McDowell, M., Thom, R., Pastine, I., Frank, R.
➢ Plan and manage their time effectively in
and Bernanke, B. (2012) Principles of
relation to deadlines whilst displaying
Economics. 3rd European ed. McGraw Hill.
individual initiative and enterprise.
ECON103: Quantitative methods for economics 40
CREDITS
Term: Michaelmas, Lent and Summer Weeks 1-24.

Degrees: BSc Finance and Economics.

Economic problems and phenomena are often addressed using statistical and mathematical models, which are
to be specified, analysed and tested using real-world data. The aim of this course is to integrate economic
theory and mathematical and statistical methods to analyse applied economic issues of current policy
importance. To this end, students will be provided with an introduction to the basic tools of mathematics and
statistics, essential for a proper understanding of economics and business courses within the Management
School, both in the first and subsequent years of study. Integrated in the quantitative methods will be
numerous applications to Economics.

Thus, students will have the opportunity to practice the application of the analytical and quantitative skills
through the medium of selected topics that are developed and analysed in depth. This sits naturally within a
course on Quantitative Methods for Economics and side-by-side with training in the use of analytical and
quantitative techniques insofar as these skills are precisely what distinguishes an Economics major in the
graduate labour market.

Syllabus ➢ The relevance of different theoretical

approaches and particular quantitative
➢ mathematics and statistics, such as algebraic methods to public policy and business
operations, basic elements of differential problems.
calculus, time value of money, descriptive
statistics, hypothesis testing and correlation Contact time
analysis.
72 lectures and 24 seminars (1 hour each).
➢ application of these techniques to economic
problems involving demand-supply analysis, Assessment
national income models, marginal indicators
➢ 50% coursework – consisting of two tests on
and elasticities, optimizing behaviour of
economic agents. mathematical content and two tests on
statistics content.
➢ utilisation of these techniques for analysis of
➢ 50% exam (3 hours and 15 minutes).
contemporary economic problems.

By the end of the module, you Course text

should have knowledge and For Mathematics: Sydsæter, K. and
understanding of Hammond, P. (2012) Essential Mathematics
for Economic Analysis. 5th ed. Pearson.
➢ Analytical methods.

➢ Mathematical and statistical techniques.

For Statistics: Newbold, P., Carlson, W. and
➢ Statistical data and their manipulation Thorne, B. M. (2013) Statistics and Business
and presentation by verbal, graphical, for Economics. 8th ed. Pearson.
mathematical and econometric means.
MATH100 (consisting of MATH101, MATH102, MATH103, MATH104 and
MATH105)
Degrees: BSc Accounting, Finance and Mathematics; BSc / MSCi Financial Mathematics

MATH100 is a Part I 40 credit module consisting of 5 sub modules, MATH101, MATH102, MATH103, MATH104
and MATH105. These modules aim to provide students with analytical techniques and problem-solving skills
that can be applied systematically and creatively in many types of employment, especially those involving
logical skills, decision-making in complex circumstances, or advanced skills of numeracy.

8
MATH101: Calculus credits
8
Term: Michaelmas Weeks 1-5 MATH104: Statistics credits

The aim of this module is to provide the student Term: Lent Weeks 16-20
with an understanding of functions, limits, and
series, and a knowledge of the basic techniques of The module aims to enable students to achieve a
differentiation and integration. solid understanding of the broad role that
statistical thinking plays in addressing scientific
50% exam: 50% coursework. problems in which the recorded information is
8 subject to systematic and random variations.
MATH102: Further calculus credits Specifically, by the end of the module, students
Term: Michaelmas Weeks 6-10 should be able to select and formulate appropriate
probability models, to implement the associated
The first part of this course extends the idea of statistical techniques, and to draw clear and
differentiation introduced in MATH101 from informative statistical conclusions for a range of
functions of a single real variable to functions of simple scientific problems.
two real variables.
50% exam: 50% coursework.
The module then introduces further integration 8
techniques such as partial fractions, and the MATH105: Linear Algebra credits
correct way to integrate over infinite ranges, or
Term: Summer Weeks 21-25
when the function to integrate has a discontinuity.
The specific aim of this module is to introduce the
50% exam: 50% coursework.
notion of matrices and their basic uses, mainly in
8
MATH103: Probability credits
algebra.

Term: Lent Weeks 11-15 The main goals are to learn how the algorithm of
elementary row and column operations is used to
This module introduces probability theory which is solve systems of linear equations, the concept and
the study of chance phenomena; the concepts of use of determinant, and the notion of a linear
which are fundamental to the study of statistics. transformation of the euclidean space. The course
The course will emphasise the role of probability also aims at defining the main concepts underlying
models which characterise the outcomes of linear transformations, namely singularity, the
different types of experiment that involve a characteristic equation and the eigenspaces.
chance or random component. The course will
cover the ideas associated with the axioms of 50% exam: 50% coursework.
probability, conditional probability, independence,
random variables and their distributions,
expectation, variance, and probabilistic modelling.

50% exam: 50% coursework.

MATH110 (consisting of MATH111, MATH112, MATH113, MATH114 and
MATH115)
Degrees: BSc / MSCi Financial Mathematics

MATH110 is a Part I 40 credit module consisting of 5 sub modules, MATH111, MATH112, MATH113, MATH114
and MATH115. These modules aim to provide students with analytical techniques and problem-solving skills
that can be applied systematically and creatively in many types of employment, especially those involving
logical skills, decision-making in complex circumstances, or advanced skills of numeracy. These combined
modules allow students, individually and collectively, to appreciate both the theoretical and problem-solving
aspects of mathematics, and encourage students to show self-direction and originality in tackling problems.

8
MATH111: Numbers and relations credits

Term: Michaelmas Weeks 1-5 gain further familiarity with the language of
definitions, theorems and proofs, and with
The aim of this module is to introduce students to
mathematical writing, here in the context of
mathematical proofs; to state and prove
analysis.
fundamental results in number theory; to
generalize the notion of congruence to that of an 50% exam: 50% coursework.
equivalence relation and explain its usefulness; to 8
credits
generalize the notion of a highest common factor MATH114: Integration and
from pairs of integers to pairs of real polynomials. Differentiation

50% exam: 50% coursework. Term: Lent Weeks 16-20

8
MATH112: Discrete Mathematics credits
This module, along with MATH113 introduces
students to analysis at a rigorous level. Specifically,
Term: Michaelmas Weeks 6-10 students learn: the concept of continuous
integration; the notion of series and convergence
The aim of this module is to develop the notion of
of series; the concept of differentiability of
a definition and the use of definitions in
sequences; and how to understand mathematical
mathematical proof; to introduce the basic ideas
notation and how to read and write proofs
and notations involved in describing sets and
functions between them; to formalize the idea of 50% exam: 50% coursework.
the size of a set and what it means for a set to be 8
finite, countably infinite or uncountably infinite; to MATH115: Geometry and credits

provide tools to carry out counting arguments Calculus

from first principles and introduce notation for
Term: Summer Weeks 21-25
manipulating permutations; and to introduce the
notion of a graph and demonstrate how one can The course aims to introduce the key concepts of
tell graphs apart. the theory of vectors, with a focus on two, three or
n-dimensional real space. The main philosophy is
50% exam: 50% coursework.
to unite the algebraic machinery with the
8
MATH113: Convergence and credits geometric concepts that vectors can be used to
Continuity represent. The course will explore various ways of
discussing curves in two or three-dimensional
Term: Lent Weeks 11-15 space and surfaces in three-dimensional space,
and will attempt to imbue the students with
Analysis is one of the pillars of mathematics, with
intuition about notions such as tangents, normals,
manifold applications to science, engineering, and
sets defined by equations, and differentiation and
economics. It deals with the abstract mathematics
integration in several dimensions.
behind limits, continuity, differentiation,
integration and others. In this module students will 50% exam: 50% coursework.