Core Courses (24 units)

ACCT7210 Advanced Corporate Financial Reporting

The course covers comprehensively all the key topics in financial accounting and reporting, including those in a group situation subsidiaries, associates and joint ventures. On completion of the course, students should be able to report financial performance and financial position of business entities and groups, prepare statements of cash flows and changes in equity, following the latest requirements of the accounting standards. They should also be able to critically evaluate and resolve various issues on contemporary accounting, reporting and disclosure requirements.

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.

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.

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.

FIN 7210 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.

FIN 7220 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.

FIN 7230 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.

FIN 7260 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.

Elective Courses (6 units)

ACCT7270 Corporate Governance and Disclosures

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.

ACCT7880 Governance, Leadership and Ethics

In this course students will examine the key aspects of corporate governance and the principles of good governance as well as legal and ethical issues facing organisational leaders. It teaches students about various models of governance, leadership issues and how board can lead effectively and accountable to shareholders. It also aims to develop students' understanding of the role of leaders and how ethics impact on their decision making.

ACCT7910 Hong Kong and International Taxation

This course aims to introduce students the principles and administration of the income tax system of Hong Kong. This course discusses the general principles of Hong Kong property tax, salaries tax, profits tax, depreciation allowances, and personal assessment. It also provides students with basics of Hong Kong stamp duty. This course also aims to provide an understanding of the taxation issues in the international perspective.

ACCT7920 Commercial and Company Law

This course provides students with an understanding of the overall legal framework in which businesses in Hong Kong operate. Topics include the Hong Kong legal system, contract law, law of tort, consumer laws, employment laws, bribery and corruption laws, and law of agency. Topics also include the key aspects of company law for company formation, records, share and loan capital, management and administration, liquidation and receivership, and mergers and takeovers. Hong Kong Stock Exchange Listing Rules’ requirements for public companies are also included.

FIN 7240 Derivative Securities and Risk Management

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.

FIN 7750 Financial Technology (FinTech)

The world of global finance, banking and financial services is changing rapidly with the emergence of financial technologies, commonly referred to as FinTech. FinTech is also the term which encompasses the disruption of traditional functions: payments, capital raising, remittances, consumer banking, B2B banking and much more. Over the last few years, FinTech has allowed for new mediums of finance, from micro-payments over mobile apps, P2P lending and spending integrated into social media, new electronic methods of institutions trade, through to robo-advisors helping to make decisions about investment portfolios to name a few. This course provides students with the latest practical knowledge on FinTech, enabling students to understand the underlying reasons of why a change was needed, and through industry case studies, understand how disruptive technologies have helped to create a new ecosystem. We are only at the early stages of FinTech, thus students will need to prepare themselves with adeeper understanding of Financial Technology.

FIN 7890 Compliance in Finance

This course provides students with an understanding of compliance in the finance industry. Compliance in the banking industry topics include Anti-Money Laundering and Counter Terrorist Financing. For compliance in the investment industry, the regulatory framework will be introduced. After the completion of the course, students will have basic understanding about compliance in Banking and Investment Industry and will be able to apply compliance procedures.

ISEM7210 Business Processes and Information Management

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.

ACCT7280 Independent Study/Integrative Project (in Accounting)**
FIN 7280 Independent Study/Integrative Project (in Finance)**

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.

Non-Unit Bearing Course (0 unit)

BUS 7510 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 3 sessions of seminars and workshops during their study.

Notes:
* Not all the elective courses listed above will necessarily be offered each year.
** The independent studies/integrated project can only be selected to replace an elective course under special circumstance and advance approval is required.