Master of Science in Applied Accounting & Finance
The proposed courses of this programme are given below.
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1. ACCT7210 Advanced Corporate Financial Reporting
This course covers the more advanced topics in financial accounting and reporting in a group situation to include subsidiaries, associates and joint ventures; and also in a multinational context to include foreign operations, investments and subsidiaries. Main accounting issues for government and other non-profit organizations, as well as debt restructuring and business reorganization will also be introduced. By the analysis of selected problems in the theory and practice of this area of advanced financial accounting and reporting, this course aims at the development of analytical and judgmental skills and the ability to think critically. After completing this course, students should be able to critically evaluate and resolve various issues on contemporary group and multinational accounting reporting and disclosure and accounting for governments and non-profit organizations.
2. ACCT7220 Strategic Management Accounting and Controls
This course aims to provide students with an understanding of strategic management accounting. It examines the strategy formation processes, including data gathering structures and SWOT analysis. Performance measurement within the strategic management process will also be examined. This course also aims to provide an understanding of the management control systems as well as the use of management accounting information in the financial and operating decision making process by business managers. Particular attention is given to the management control environment and process.
3. ACCT7230 Issues on Internal and External Auditing
This course aims to provide students with an understanding of the key conceptual and practical issues on both internal and external auditing. Topics include internal control systems, internal auditing function, relation between internal and external auditing, professional ethics, legal liabilities, audit engagements, and current issues and development such as corporate governance, audit committees, the impact of environmental matters and information technology on auditing, Social responsibilities and business ethics, and loss prevention and fraud investigation, etc. By the completion of the course, students should gain solid knowledge and skills over the main issues on internal and external auditing relating to various kinds of business entities.
4. ACCT7240 Accounting Theory and Policy
This course establishes a framework for evaluating accounting choices and categorizing the strength of authority for particular accounting treatments or procedures. This is accomplished by exposing students to the empirical and normative accounting research and studies findings, and by creating an awareness of the endogenous factors affecting accounting policies and decisions. Contemporary accounting research methodologies and theories are introduced to students. It is expected students should understand not only the theoretical foundation of accounting policy and practices but also the development of accounting research in general.
5. FIN7210 Corporate Finance
The objective of this course is to introduce students to the concepts and techniques in making business financial decisions. The course focuses on three principal financial choice areas that are of particular concern to corporate executives. These are the decision over the means of financing (Financing Decision), the selection of investment projects (Capital Budgeting), and the making of short-term financial decisions (Current Asset Management). On the other hand, the concepts and techniques introduced in the course are helpful to students to explore into other finance areas such as investments, personal financial planning, banking, real estates, insurance, derivatives, international finance, and risk management. Although the corporate perspective will be adopted throughout the course, it will become apparent that the ideas, concepts, and techniques are also applicable to personal and public financial decision-making. After the completion of this course, students should be equipped with sound and solid knowledge for the decision-making process in corporate finance.
6. FIN7220 Investment and Portfolio Analysis
This course analyses different principles in the valuation of financial assets including common, preferred stocks and corporate bonds. The development of portfolio concepts and capital market theories are introduced. The issue of market efficiency is investigated while asset pricing models are discussed. Techniques on performance evaluation are introduced and performance of mutual funds is also examined. After the completion of this course, students should be able to perform sound investment and portfolio analysis.
7. FIN7230 Financial Strategy
This is another capstone course of the MScAAF programme. The course builds on the core elements or foundation of Finance and Accounting knowledge. The objective of the course is to provide students with knowledge to understand the international financial environment and its impact to Multinational Corporation. The course extends the corporate finance theory from local to international dimension. All traditional areas of corporate finance are approached from the perspective of Multinational Corporation.
8. FIN7260 Financial Statement Analysis and Business Valuation
This capstone course places an emphasis on integrative application of the knowledge and skills on both accounting and finance. The objective of the course is to develop an understanding of the use of information contained in financial reports in various business decision-making contexts, and how to integrate accounting and finance theories and concepts in valuing businesses. This course attempts to introduce some analytical tools commonly used by users of financial statements and business valuation techniques commonly used by professional business analysts and financial brokers. With these tools, users of financial statements will have a better understanding of the financial positions and operating performance of an enterprise. Equipped with a better understanding of the business valuation techniques introduced in this course, students should be able to conduct basic valuation for different business settings in various industries.
9. ACCT7260 International Accounting and Taxation (Elective)
This course aims to provide an understanding of the accounting and taxation issues in the international perspectives. The main theoretical and practical issues underlying international accounting will be introduced. By the completion of this course, students will gain an insight into the recent progress of the harmonization of accounting standards and practices in the world and the development of international taxation practices following the growth of multinational enterprises and rapid integration of global economies. In addition, management control and information systems for multinational operations will be elaborated.
10. FIN7240 Derivatives Securities and Risk Management (Elective)
This course enables students to understand the fundamental concepts in derivatives and risk management and their applications. Derivatives have been used extensively in hedging, arbitrage, speculation, and the design of financial products. Executives with knowledge in derivatives can better assess the risk of a company. Precautions of using derivatives will also be emphasized. Besides application of derivatives in risk management, other techniques in risk management are introduced. In the global environment of business, risk management is an indispensable tool for business managers. Students will be able to apply the concepts in this programme to real-world situations after the completion of this course.
11. ACCT7270 Corporate Governance and Disclosures (Elective)
This course will enable students to understand relevant concepts and theories so that they could analyze and solve key issues of modern corporate governance. It provides an understanding of the basic roles and responsibilities of shareholders, directors and management, and familiarity with the legal, social, economic, moral, and psychological issues they confront in the ordinary course of serving as the directors and senior executives of corporations.
Although the course is expected to adopt an integrated and interdisciplinary approach, it is also concerned with issues of business performance and the operation of financial markets, with the accounting and finance field at its heart. This approach provides both depth and breadth of understanding on the governance of large listed HK companies, both widely held and family controlled. Also, attention will be paid to the governance systems in the USA and mainland China.
12. ACCT7870 Financial Regulations and Compliance
This course aims to cover key issues and the applicable laws and regulations for financial markets. It includes an overview of the regulatory framework in financial, banking and securities laws, especially dealing with product and business conduct. It also provides the foundations for the study of financial crimes including anti-money laundering and counter-terrorist financing, fraud, as well as corruption.
13. ISEM7210 Business Process Processes and Infomration Mangement (Elective)
The transformation of business caused by E-business and E-commerce applications of the Internet and related technologies demonstrates that information systems and information technology are essential ingredients for business survival and success. The goal of this course is to help the business professionals in the Accounting and Financial areas to understand how to use and manage information technologies and use them to revitalize business processes, conduct E-commerce, improving business process decision making, and to gain competitive advantages.
14. ACCT7280 Independent Study/Integrative Project (in Accounting) (Elective)*
FIN7280 Independent Study/Integrative Project (in Finance) (Elective)*
The independent study or graduation project is designed only for senior executives who may not be able to attend class at the end of programme due to unforeseeable timing conflict with the scheduled class time, or for students who have obtained appropriate prior training on research (proof is needed) and would like to take an individual graduation project concentrating on the integrative application of both accounting and finance knowledge. This elective option is only available under special circumstances while application and approval in advance is required. The independent study/project can be selected to substitute only one elective course. Students taking this elective should under close supervision of designated faculty members. Usually study plan/proposal, term paper, progress reports and final grading will be used as the assessment scheme for the independent study or the graduation project.
15. BUS7510 MScAAF Seminars and Workshops
AAF seminars deal with contemporary issues in the business community. Speakers include senior business practitioners, visiting academics and faculty members. Besides those seminars and workshops organized by the School under EDS scheme, the MScAAF programme would also arrange some seminars specifically related to the field of Accounting and Finance. These activities aim to widen the exposure of the students, and bring them up-to-date in various current business issues. The seminar may have a single speaker or multi speakers with different presentation modes. Students have to participate in at least 2 sessions of seminars and workshops during their study.
*The independent studies/integrated project can only be selected to replace an elective course under special circumstance and advance approval is required.Please note that the elective course will be opened with at least 12 students enrolled.