The Masters in Accounting and Financial Management provides advanced study of accounting and financial management. It enables professionally qualified accountants to take stock of what they have learnt in practice, and helps able graduates to extend their academic training to the frontiers of knowledge within the discipline.
It aims to provide the theoretical framework and skills that accountants and financial managers need in order to cope with an increasingly complex and global accounting environment. It also provides a valuable foundation for those contemplating careers in areas such as investment banking, financial analysis which are likely to involve extensive use of accounting information.
The accounting modules provide coverage of both US GAAP and International Financial Reporting Standards (IFRS). Coverage of US GAAP in our first-term module relates primarily to inventories, tangible and intangible fixed assets, leases, liabilities, OBSF and deferred taxation. Coverage of IFRS in our second-term module relates primarily to reporting financial performance (draft proposals), stock-based compensation, earnings per share, intangible assets, business combinations, goodwill, foreign currency translation and financial instruments. Throughout, emphasis is given to important differences between US GAAP and IFRS.
Many holders of this MSc have progressed to senior positions in the accounting profession and industry. Others are now faculty members in UK universities and throughout the world.
The MSc Finance and the MSc Accounting and Financial Management are supremely flexible: you can switch between them at an early stage if you find your interests changing.
Michaelmas Term (October to December)
In this term you take four introductory modules:
Plus four further assessed modules:
You also complete a non-assessed two-week module on Financial Databases.
Lent Term (January to March)
You take two or three of the following modules:
Plus one or two chosen from:
Summer Term (May to September)
From May to July you work solely on your Masters dissertation and progress report, with guidance from your academic supervisor.
You continue this work throughout the remainder of the summer, submitting your dissertation in September, at the end of the Masters programme.
There is a wide choice of dissertation topics, and some recent examples include:
Equity valuation using accounting numbers
Corporate payout policy: theory and evidence
Graduation takes place in December at Lancaster.
You need the following IELTS score:
Minimum required score:
The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.Take IELTS test
StudyPortals Tip: The UK government has confirmed new English-language testing requirements for visa and immigration purposes. Learn more
You need the following GPA score:
Applicants for graduate programs must have the equivalent of a bachelor’s degree with a minimum GPA equivalent to Upper Second Class on the UK Honour scale. Admitted applicants typically have an undergraduate GPA of or better on the UK Honour scale. No exam grade should be lower than 4.5 (European grade scale) or D (American grade scale).
Your GPA (Grade Point Average) is calculated using the grades that you received in each course, and is determined by the points assigned to each grade (e.g. for the US grading scale from A-F).
StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.
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