MSc Accounting and Finance - Department of Accounting
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Department of Accounting MSc Accounting and Finance
The programme
The MSc Accounting and Finance Programme timetable
programme provides a comprehensive
and rigorous treatment of key areas of Paper Michaelmas Term Lent Term Summer Term
accounting and finance. Through 1 Corporate Finance and Asset Markets (F)
research-led teaching by acknowledged or Asset Markets (H) and Corporate Finance (H)
or another approved paper
experts in their fields, the programme
2 Financial Reporting in Capital Markets (F)
brings students to the forefront of theory
or a combination of Accounting, Strategy and Control (H) and Financial Revision
and practice in relevant and topical areas. Reporting, Capital Markets and Business Combinations (H) Lectures
3 and 4 Financial Reporting in Capital Markets (F)
The programme is structured so that
Financial Risk Analysis (H) Forecasting Financial Time Series (H)
students can specialise through the
Accounting, Strategy and Control (H) Accountability, Organisations and
appropriate choice of courses offered by
Risk Management (H)
the Department of Accounting and the
Financial Reporting, Capital Markets and Fixed Income Markets (H)
Department of Finance. Pathways are Examination
Business Combinations (H)
available for specialisation in Accounting Preparation
and Financial Management; Finance; Quantitative Methods for Finance and Applied Corporate Finance (H)
and International Accounting and Risk Analysis (H)
Finance. Given the high level of Global Financial System (H) Derivatives (H)
academic performance expected from Accounting in the Global Economy (H) Valuation and Security Analysis (H)
students, a significant amount of Portfolio Management (H)
independent study and preparation Corporate Finance Theory (H) Examinations
is required to get the most out of International Finance (H)
the programme.
(F) = full-unit course; (H) = half-unit course
The MSc Accounting and Finance is Elective options may vary
housed within the Department of
Accounting. The Department is widely
recognised throughout Europe for its
excellence in accounting and financial Duration Option 2 MSc Accounting and Finance:
management research and education, The MSc Accounting and Finance International Accounting and Finance
and for its leading role in public policy programme takes place over nine months, If you take Accounting in the Global
issues. It is one of the most highly-rated beginning with an introductory course to Economy and International Finance
departments in the subject area in the review quantitative methods and relevant as Paper 3, you can elect to have
UK. The Department of Accounting has accounting concepts and techniques. this specialisation shown on your
26 full-time academic staff, undertaking degree certificate.
teaching and research across a Programme structure
broad range of theoretical, empirical Students must successfully complete the Option 3 MSc Accounting and
and applied issues. The interface equivalent of four full-unit courses to Finance: Accounting and Financial
between accounting and managers, meet the requirements of the MSc Management
organisations, institutions, public policy Accounting and Finance. Results from Options selected must include Financial
and regulatory bodies is a particular each of the full-unit courses carry Reporting in Capital Markets and
teaching and research strength of proportionate and equal weight in the Accounting, Strategy and Control
the Department. The Department of final assessment of the degree. (whichever is not taken as one of the
Finance, which has 26 full-time Compulsory core courses in accounting compulsory courses), and further
academic staff members, is devoted and finance provide the foundation for approved courses to the value of
to excellence in teaching and research developing an understanding of a one full unit.
across the full range of subfields in variety of topics, themes and core
finance. The two Departments benefit Option 4 MSc Accounting and
principles. Students can then select from Finance: Finance Options selected
from affiliations with two major research a combination of optional full and half-
centres located at LSE, the Financial must include two full-unit equivalent
unit courses in specific areas of courses in the finance area.
Markets Group and the Centre for accounting and finance to fit their
Analysis of Risk and Regulation. interests and preferred specialisation. Teaching style
Options from outside the two Courses are taught in lecture and class
Located in Central London, the London Departments are also available.
School of Economics and Political or seminar format. Lectures introduce
Science is a world class social science the core theoretical and technical
Programme specialisation concepts whilst their associated classes
institution, attracting some of the best Specialisation options are available for
researchers and teachers in their allow students to discuss and apply
this programme to reflect the interests of these concepts through exercises and
respective fields, and providing a the students, and to highlight the focus
challenging environment for highly in-depth study. Seminars allow for the
of their studies. On graduation, the focused study of key concepts in a
capable students. The dynamic specialisation is noted on students’
intellectual environment of LSE more informal style and often involve
degree certificates. For all specialisation presentations by students on selected
facilitates a constant interchange options, students must take compulsory
of ideas between the School and course materials. Many teachers adopt
core courses in accounting and finance, a variety of teaching methods to deliver
major financial institutions, leading plus additional courses to make up four
multinational organisations and key their courses such as class exercises,
full units as specified below: team presentations, individual or group
regulatory bodies. LSE also houses the
British Library of Political and Economic Option 1 MSc Accounting and Finance work, or case study discussions.
Science, the largest social sciences Any choice of approved options to the
library in the world. value of two full units.The courses
Compulsory core courses Valuation and Security Analysis: aims to Teaching staff
Corporate Finance and Asset Markets: aims to introduce students to security analysis
equip students with the fundamental and valuation from both theoretical and Students are taught by leading edge
concepts and tools underlying modern empirical perspectives. Students are also researchers with expert knowledge of
finance, both in the asset markets and the provided with an opportunity to apply the areas in which they teach. The
corporate finance side. The course provides a their skills by valuing, in small groups, international backgrounds of these
foundation for subsequent finance courses from the point of view of a “sell-side teachers and their varied research
offered by the Department. analyst”, a firm’s equity of their choice interests provide students with a unique
using technologies based on the present opportunity to learn from and interact
Financial Reporting in Capital Markets*: with world class faculty.
values of free cash flows and economic
examines the current approach to corporate Department of Accounting
value added. The course should appeal
financial reporting to investors and other
to students interested in investment Dr Vasiliki Athanasakou,
groups in countries with active capital markets
analysis and fund management. Assistant Professor of Accounting
(such as the UK and USA).
Portfolio Management: focuses on The impact of regulation on corporate
Students with a substantive and verifiable financial communication; Earnings
background in accounting must do either empirical and applied problems in
portfolio management. management; Analyst forecasts;
Financial Reporting in Capital Markets as Paper Voluntary disclosure.
2, or a combination of Accounting, Strategy and Trading and Institutions: focuses on the
Control (H) and Financial Reporting, Capital Professor Alnoor Bhimani,
sources of liquidity, volatility, Professor of Management Accounting
Markets and Business Combinations (H) which informative prices and trading profits in
are offered under Paper 3 and 4. Management accounting in the digital
equity markets. economy; international comparative
Optional courses Global Financial System: examines the financial management; strategy and
Financial Risk Analysis: aims to provide an academic and policy debates on the cost management; the social analysis of
overview of the main theoretical concepts operation of the global financial system. accounting and governance systems.
underlying the analysis of financial risk and to The course will aim to be topical, but
show how these concepts can be implemented Professor Michael Bromwich,
the analysis of the issues will be based CIMA Professor of Accounting and
in practice in a variety of contexts. This course on rigorous economic arguments.
shares some topics with Quantitative Methods in Financial Management, Emeritus
Finance and Risk Analysis. Financial Intermediaries: examines Accounting standards; economics of
financial strategies of firms and information and organisations;
Forecasting Financial Time Series: examines management accounting in the new
investors in imperfect financial
the techniques involved with forecasting manufacturing environment; strategic
markets, on financial intermediation
key variables in finance. Students will learn management accounting; accounting
and on some key macroeconomic
both the theory and the practice of for utilities.
aspects of such settings.
forecasting in finance.
Dr Stefano Cascino,
Accounting, Strategy and Control: aims to Accounting in the Global Economy:
Lecturer in Accounting
provide an advanced overview of current examines the fast changing
Accounting conservatism; corporate
developments in thought and practice in the international dimensions of financial
governance; international accounting;
area of accounting, strategy and control. reporting to external users of financial
debt markets; disclosure regulation in
Particular emphasis is given to strategic and statements and the impact of those
capital markets; family firms.
organisational aspects of control systems design. changes on business entities and their
stakeholders in the global economy. Dr Yasmine Chahed,
Accountability, Organisations and Risk Lecturer in Accounting
Management: is an advanced course focusing on International Finance: examines key Accounting change in its social and
the organisational and institutional settings issues in international finance, focusing institutional context; regulation of non-
within which risk is managed. on recent developments and financial and future-oriented reporting;
incorporating theoretical, empirical, corporate accountability and disclosure;
Financial Reporting, Capital Markets and policy and institutional dimensions.
Business Combinations: aims to provide students integrated performance measurement
with exposure and understanding on relevant One option from the wide variety of and reporting-systems.
and timely financial reporting policies and courses available in other departments Dr Pascal Frantz,
procedures, and the implications of financial (with permission). Lecturer in Accounting and Finance
statement information in global capital and Subject to approval, it may be possible Securities analysis; the economics of
financial markets. to substitute an extended essay of not disclosures and auditing.
Fixed Income Markets: provides a thorough more than 10,000 words on an agreed Dr Martin Giraudeau,
grounding in recent developments in fixed topic for one optional course. Lecturer in Accounting
income securities pricing, hedging and Accounts of the future;
portfolio management. Assessment entrepreneurship and strategy;
All full-unit courses are assessed by economic sociology: market devices,
Applied Corporate Finance: three-hour unseen examinations in the
provides a thorough grounding in recent emergent market ties, financial
Summer term. Half-units are assessed by interaction, calculative practices;
developments in applied corporate finance. two-hour unseen examinations. Some of business history; history of economic
Corporate Finance Theory: provides a thorough the half-unit optional courses also have thought; anthropology of the future.
grounding in recent developments in the theory group/individual project work as part of
of corporate finance. the assessment. Dr Matthew Hall,
Associate Professor of Accounting
Derivatives: provides a thorough grounding in Management accounting; management
the theory of derivatives pricing and hedging. control systems and performance
measurement; behavioural accounting
Quantitative Methods for Finance and Risk and professional commitment of
Analysis: examines the quantitative and accountants, and accounting education.
statistical tools that are important in applied
finance. Students will be exposed to application Professor Bjorn Jorgensen,
of these tools and the key properties of financial Professor of Accounting and
data through a set of computer-based classes Financial Management
and exercises. Risk measurement; risk disclosure; risk
management; equity valuation and
capital markets; earnings management.
* can also be taken as an option if not selected as a compulsory courseDr Liisa Kurunmäki, Dr Ulf Axelson, Professor Christopher Polk,
Associate Professor of Accounting Abraaj Group Reader in Finance Professor of Finance
Accounting in the New Public Sector; with and Private Equity Asset pricing; corporate finance; hedge funds;
special reference to healthcare. Private equity; financial innovation and macroeconomics.
security design; corporate finance, auction
Professor Richard Macve, Igor Makarov
theory; and financial intermediation.
Professor of Accounting, Emeritus Associate Professor of Finance
Conceptual framework of financial Dr Elisabetta Bertero, Asset pricing; information in asset markets;
accounting and reporting; financial Lecturer in Finance delegated portfolio management; hedge funds.
reporting in the insurance industry; the Sub-sovereign debt; the financial role of
Ian Martin
historical development of accounting; the state: the interaction between
Professor of Finance
environmental accounting and reporting; governments and financial markets;
Disasters in asset markets; asset pricing;
interactions between insurance and budget constraints and state-owned firms;
equilibrium models of comovement between
environmental management. international finance.
financial assets.
Dr Andrea Mennicken, Dr Maria Cecilia Bustamante,
Dr Rohit Rahi,
Associate Professor of Accounting Assistant Professor of Finance
Associate Professor of Finance
International accounting and auditing; Dynamic corporate finance; asset pricing
Arbitrage in segmented markets; financial
audit and accounting regulation and implications of corporate decisions; real
innovation and security design; asset pricing
harmonisation; accounting, economic options; game theory.
with asymmetric information; general
transition and social transformation in
Dr Georgy Chabakauri, equilibrium theory; incomplete markets.
post-Soviet Russia; the sociology of
Assistant Professor of Finance
calculative practices; public sector Dr Andrea Tamoni,
Asset pricing; portfolio choice, risk
accounting reforms. Assistant Professor of Finance
management.
Asset pricing; financial econometics,
Professor Peter Miller,
Dr Vicente Cuñat, macro-finance.
Professor of Management Accounting
Associate Professor of Finance
Investment appraisal in new Professor Dimitri Vayanos,
Corporate finance; applied theory; applied
manufacturing environments; Professor of Finance, Head of Department
econometrics; industrial organization;
accounting in the new European Liquidity and asset pricing; information in asset
labour and personnel economics.
public sector; accounting as a social markets; delegated portfolio management;
and institutional practice. Dr Jon Danielsson, behavioural finance.
Reader in Finance
Professor Michael Power, Dr Andrea Vedolin,
Financial risk analysis; value at risk;
Professor of Accounting Assistant Professor of Finance
volatility modelling and forecasting;
The role of internal and external auditing Asset pricing; derivatives pricing; financial
extreme value theory.
in the corporate governance process; econometrics; portfolio theory.
internal control systems and corporate risk Dr Amil Dasgupta,
Dr Michela Verardo,
management and regulation; risk Associate Professor of Finance
Associate Professor of Finance
reporting and communication. Information economics and game theory
Empirical asset pricing; market efficiency and
with applications to finance; the theory of
Professor Peter Pope, investment anomalies; trading behaviour of
delegated portfolio management and
Professor of Accounting institutional investors; behavioural finance.
consequences for financial markets ; the
IFRS implementation in Europe; global Professor David Webb,
theory of financial crises.
equity market anomalies; fundamental Professor of Finance
valuation models, with particular reference Dr Jack Favilukis,
Financial economics and insurance economics;
to the links between financial statement Assistant Professor of Finance
economics of information; corporate finance
factors, risk and equity returns. Consumption based asset pricing;
and financial markets.
incomplete markets; heterogeneity and
Dr Rita Samiolo, Dr Moqi Xu,
inequality; limited participation and
Lecturer in Accounting Assistant Professor of Finance
participation costs.
Social and institutional studies of Corporate governance; corporate finance:
accounting; accounting in the public Professor Daniel Ferreira,
capital structure; M&A; SEOs.
sector; risk management and regulation. Professor of Finance
Corporate finance and governance; Professor Kathy Yuan,
Dr Ana Simpson, Professor in Finance
organizational economics; FMG
Assistant Professor of Accounting Bubbles and crises; liquidity; heterogeneous
research programmes: corporate
Voluntary disclosure – incentives and information; mutual funds; hedge funds;
finance and governance.
consequences; analysts’ forecast efficiency; network theory; short-sale and margin
earnings management. Juanita Gonzalez-Uribe
constraints; global games; asset pricing.
Assistant Professor of Finance
Professor Ane Tamayo, Dr Kostas Zachariadis,
Empirical corporate finance; venture
Professor of Accounting Assistant Professor of Finance
capital; private equity and innovation.
Impact of accounting information on Market microstructure and design; information
capital markets; role of financial Dr Christian Julliard,
economics and game theory with applications
intermediaries in capital markets; empirical Associate Professor of Finance
to finance; corporate governance as related to
asset pricing and portfolio allocation; Macroeconomics; finance; applied
economic efficiency.
corporate governance/finance. econometrics; international economics and
finance; real estate finance. Dr Jean-Pierre Zigrand,
Professor Wim A Van der Stede, Associate Professor of Finance
CIMA Professor of Accounting and Dr Dong Lou,
General equilibrium asset pricing; financial
Financial Management, Head of Assistant Professor of Finance
intermediation and delegation; continuous
Department of Accounting Empirical asset pricing; behavioural
time asset pricing; herding; market crashes;
Management accounting and control, finance; empirical corporate finance.
foundations of arbitrage.
budgeting systems, incentive systems, Dr Philippe Mueller,
performance measurement and evaluation; Assistant Professor of Finance
corporate governance: boards, controllers, Macro-finance; empirical asset pricing;
and executive compensation. fixed income; financial econometrics.
Department of Finance Dr Daniel Paravisini,
Professor Ronald Anderson, Associate Professor of Finance
Professor of Finance, Emeritus Corporate finance; credit and banking;
Dynamic corporate finance; contingent development economics.
claims analysis, risk management; financial
market structure and regulation.The application
The application process Applicants for whom English is a Accounting and Finance specifically
Applicants for the MSc Accounting second language, or those who have as their first choice will maximise
and Finance programme should have not studied to degree level in English, their prospect of admission to the
prior academic courses in financial should provide evidence of their programme. Equally, candidates
reporting, management accounting, command of the language. For the should note the differentiated
finance, economics and quantitative MSc Accounting and Finance nature of the graduate programmes
methods. Strong candidates who do programme, this would be a in the Department of Accounting,
not have the appropriate background Minimum of 7.0 in IELTS (at least 6.0 and are advised to identify their first
in one or more of these areas may be in speaking and writing, and 6.5 in choice accordingly.
required to take additional courses reading and listening). 107 in the
before being accepted. internet-based TOEFL (at least 20 in Funding your studies
speaking, 21 in writing and 22 in The School has a variety of named
Minimum entry requirements are a reading and listening). scholarships and other forms of
good upper second class honours support available, administered by
degree from a UK University or Once an application has been the Financial Support Office.
equivalent from an overseas submitted, candidates can keep up to Applicants can find out more about
University. GMAT is required for all date with its progress online by visiting: these from the Financial Support
students without a UK undergraduate lse.ac.uk/collections/graduateAdmissions/ Office website:
degree. The GMAT is also apply/trackYourApplication.htm lse.ac.uk/Financialsupportoffice
recommended for all students with
UK undergraduate degrees, Admissions decisions are made on the The application process for masters
particularly those whose quantitative basis of academic merit, the programmes is managed by the
skills are not demonstrated by their achievement of a diverse group of Graduate School at LSE. All
undergraduate studies. Under very strongly qualified candidates on the correspondence relating to offers and
exceptional circumstances, waiver of programme and the number of places registrations should be directed to the
the GMAT may be considered. A available. Early application is strongly Graduate Admissions Office at the
GMAT waiver request form is recommended. Graduate School which
available from the Graduate can be contacted as follows:
Admissions website: Given the high competition for places
lse.ac.uk/collections/graduateadmissions on this programme, applicants who Graduate Admissions Office
indicate an interest in the MSc PO Box 13420
Houghton Street
London WC2A 2AR
Online enquiries:
lse.ac.uk/collections/graduate
Admissions
tel: +44 (0)20 7955 7160
“I joined the MSc in Accounting and Finance with high expectations, and LSE
certainly delivered! The combination of professors that are world-leading
researchers within the fields they lecture, combined with a multi-cultural and
talented student mass, brings the learning experience up to a whole new level.
The programme gave me a deep understanding of the world of accounting
and finance, great career prospects and friends for life.”
Petter Helstrom, Class of 2011The students
Student profiles 36+ years 1.2% UK 5.7%
International diversity of both faculty and Other 14%
31-35 years 2.8%
students is a key feature of studying at Africa 3.2%
LSE and in the Department of Accounting N. America 9.4%
26-30 years
which offers the MSc Accounting and 15%
Country
Finance degree. In addition to faculty Age Range* Rest of Europe
36.6% of Origin*
from around the world, the MSc
Accounting and Finance programme
attracts students from more than 70 Asia 31.1%
countries, many from continental Europe,
South Asia and the Far East. Female 20-25 years 81%
students are well represented, making up
close to 50 per cent of MSc Accounting
and Finance student body in recent years. * Data for registered MSc Accounting and Finance students 2010-11 to 2013-14
Profile of registered
students 2013-14 Companies who have employed recent employers, completing application
graduates from the MSc Accounting and forms, writing a curriculum vitae (CV)
GMAT range: 560-780 Finance programme include ABN Amro, and covering letters. The Careers
Average GMAT score: 689 Allied Irish Bank, Bain & Company, Service also organises and publicises
Barclays Capital, Citigroup, CSFB, on-campus recruitment events held by
Average Age: 23 yrs
Deloitte, Ernst & Young, FSA, Goldman employers. It has set up a range of
Age Range: 20-37 Sachs, JP Morgan, Merrill Lynch, Morgan online resources to provide students
Stanley, PricewaterhouseCoopers, and with access to careers-related
Registrations to applications: 14.2%
Schroder Salomon Smith Barney. Many information and to link students
leading organisations make careers with potential employers.
presentations at the School during
Careers
the year.
Students who successfully complete the
MSc Accounting and Finance programme
LSE’s Careers Service has a wide range
pursue careers across a wide range of
of resources available to assist students
sectors, in financial institutions, accounting
in their job search. Staff at the Careers
firms, management consulting, industry,
Service are available to help students
government and academia.
with their research into potential
The department
Departmental facilities Useful links for further Department of Finance website
Both the Department of Accounting and information (lse.ac.uk/finance)
the Department of Finance each have a For further information on the
Student Information Centre to serve as Graduate School (lse.ac.uk/ programmes, faculty and activities of
a central point for enquiries and for the programmesandcourses/graduate) the Department of Finance.
distribution of relevant course materials For online applications and further
such as lecture notes, handouts and information on studying at LSE. For further information on this
class exercises. programme, contact:
Careers Office (lse.ac.uk/careers) MSc Accounting and Finance
Study space is continually being For further details on graduate Programme Manager
refurbished and enhanced throughout employment opportunities, internships Department of Accounting
the School. The two departments and vacation work. Houghton Street
provide study rooms for graduate London WC2A 2AE
students which include computer access Financial Support Office Tel: +44 (0)20 7852 3780
and network points for laptops. (lse.ac.uk/financialsupportoffice) Email: accounting@lse.ac.uk
For information on scholarships and
Computer facilities are also provided applying for financial support. Other graduate programmes available
through the School’s IT Services in the Department of Accounting:
Department and students have access Department of Accounting Diploma in Accounting and Finance
to free IT training for the core software (lse.ac.uk/accounting)
packages they will need to use during For further information on the MSc Accounting, Organisations
their studies. programmes, faculty and activities of and Institutions
the Department of Accounting. PhD in AccountingYou can also read
