Accounting, Governance and Financial Management

Core modules:

Corporate Governance

This module introduces students to the study of corporate governance. The module covers the subject both from a theoretical and practical perspective. The early part of the module discusses the theories underlying the study of governance, recent governance failures, and policy initiatives designed to improve governance quality and accountability. The module proceeds to explore the main mechanisms of the governance environment for shareholder-owned companies, specifically investigating whether governance characteristics influence corporate performance. The module also includes a detailed discussion of governance in an international context as well as a discussion of governance in non-profit organisations.

15 credits

Management Accounting

This unit aims to introduce students to the importance of management accounting's contribution to control and management of organizations. The module will ensure students are familiar with essential internal budgetary and investment appraisal techniques as well as with important contemporary developments - including activity-based management and costing, the balanced scorecard, just-in-time and throughput accounting and target costing - and the applicability of such ideas, techniques and systems to a range of different contexts. The unit will use both academic empirical studies and corporate materials to ensure students develop a critical appreciation of how management accounting knowledge is employed in practice.

15 credits

Financial Accounting and Financial Statement Analysis

This module is designed to equip students to analyse and interpret the published financial statements of listed companies. Students will gain an understanding of the important components of financial statements and of the impact of different economic, institutional and regulatory bodies on the forms of accounts. Students will develop analytical and numerical skills, including the ability to calculate, critique and use accounting ratios and to prepare company and share valuations utilising published financial information. Students will also learn how to supplement financial data from the contextual and forward-looking narrative in published financial reports.

15 credits

Financial Management

This module aims to provide knowledge about the ways in which organizations raise finance and how they make decisions under a variety of conditions of how best to use that finance once it has been raised. As such the module will introduce the students to different types of markets, the regulation of those markets and the different types of finance that are available in those markets. Students will also be introduced to the different uses that organisations may make of finance and a range of decision-making tools that are used to select between different uses of available finance.

15 credits

Research Methods for Finance and Accounting

This module will offer you a comprehensive understanding of finance and accounting research methods, guiding you through the sequential stages of conducting impactful research. It will begin with training you how to conduct a systematic review of literature enabling you to identify real gaps and relevant problems within the field. Based on these gaps, you will learn how to develop clear and appropriate research aims, objectives and questions.

The module will emphasise the importance of understanding the philosophical underpinning of research problems, equipping you to position your studies within the principal research traditions. It will then introduce the tools and techniques for collecting and analysing data using quantitative, qualitative, and mixed methods approaches. Practical guidance on critiquing current literature and articulating ethical considerations related to research will also be provided.

You will explore how to discuss and interpret findings in the context of the adopted theoretical framework, ensuring coherence and depth in your analysis. The module will further support you in articulating the contributions of their research, offering practical implications for relevant stakeholders. Reflecting on findings and skills gained, you will align your development with the Sheffield Graduates Attributes, preparing you for successful completion of a research project or dissertation.

15 credits

Sustainability Accounting and Accountability

This research-led module draws inspiration from the Sheffield School of Accounting and Finance and the work carried out by Centre for Research into Accounting and Finance in Context (CRAFIC) researchers at the Sheffield Management School. The module introduces you to fundamental concepts that will help you better understand accounting's role in organisations and society. Rather than viewing accounting as a purely technical and neutral tool for achieving economic objectives, this unit encourages you to consider its broader role in addressing grand societal challenges such as the Sustainable Development Goals, climate change, combating modern slavery, and more.

In addition to enhancing your critical reasoning skills, this module will equip you with high-demand skills in sustainability reporting. You will become familiar with the context of sustainability reporting, frameworks for reporting and assurance, and how businesses meet growing accountability demands to multiple stakeholders. By examining real-world cases, you will critically analyse current practices, gain practical skills, and deepen your understanding of issues within contemporary sustainability reporting.

Through this approach, you will develop a critical appreciation of the philosophical issues in research and practice and build a skill set aligned with the growing demand for sustainability reporting and assurance specialists.

15 credits

Project Dissertation

This unit requires the student to research a topic appropriate to the field of management. The topic chosen by the student must receive approval from a supervisor. A dissertation written by the student should be delivered to the School at the conclusion of the study. The study, and the resulting dissertation, may take the form of an academic research or of a managerial problem-solving exercise. In either case, it requires the student to apply critical analysis and to set the issues within the context of appropriate management literature.

45 credits

You will take two of the following:

Principles of Data Analytics

This course aims at preparing you for the field of data analytics in the context of the modern job market's demands with multiple analytics techniques. In the era of big data and AI,  you will learn the essential methodological steps of data analysis, from understanding data collection to extracting actionable insights. You will explore analytical techniques and tools necessary for identifying hidden information and making informed business decisions. Hands-on projects and real-world scenarios will equip you with the practical skills to address common challenges in data analytics, setting a strong foundation for further exploration in the field.

 This course is designed to deepen your understanding of the critical importance of rigorous methodology in data analysis and to equip you with a robust toolkit of data analytics techniques. Emphasizing the fundamental principles of statistical analysis, the course offers hands-on experience in applying these techniques effectively. You  will benefit from collaborative learning opportunities and insights drawn from the latest theoretical and applied research in the field. This interactive approach not only enhances understanding but also fosters an environment of peer learning and continuous engagement with cutting-edge data analytics practices.

15 credits

Corporate Finance

This module is designed to foster a comprehensive skillset in corporate finance. It offers a robust curriculum that provides students with a theoretical foundation and equips them with practical tools. These tools are crucial for navigating the intricacies of financial decision-making, making the course highly relevant to real-world scenarios.

1. Develop expertise in valuation methodologies: Students will gain the ability to design and critically evaluate valuation methods for various asset classes (stocks, bonds, and firms) across diverse market landscapes. This focus will ensure students can tailor valuation approaches to specific contexts and optimise their effectiveness in different market conditions.

2. Foster the construction and implementation of asset pricing models: The module aims to equip students with the knowledge and skills to build and implement asset pricing models. These models will be instrumental in creating efficient investment portfolios by leveraging established principles of modern portfolio theory.

3. Deepen understanding of IPO pricing anomalies: The module delves into pricing anomalies observed in initial public offerings (IPOs). Students will analyse these phenomena and propose potential explanations, fostering a deeper understanding of this dynamic market segment.

4. Synthesise optimal capital structure and dividend policy strategies: The module aims to develop students' ability to synthesise optimal capital structure and dividend policy strategies for firms. By considering market conditions and a firm's specific financial objectives, students will gain the expertise to craft comprehensive financial plans.

5. Analyse the impact of market imperfections and efficiency levels: The module examines the impact of market imperfections and efficiency levels on corporate financial decisions. Students will gain valuable insights into how these factors influence real-world scenarios, enhancing their ability to make informed financial choices.

15 credits

Comparative Finance and Financial Services

This module introduces students to major features and origins of financial services, the different forms of banking arrangements that exist and the available alternative financing tools for corporations, small- and medium-sized enterprises and major infrastructure projects. It provides students with an analytical framework for understanding the different types of banks that exist and the financing tools that are available. It will also provide insights into the ways in which banks and providers of finance are regulated and the limitations to those forms of regulations.

15 credits

You will take two of the following:

Supply Chain Accounting and Finance

The unit focuses on developments in supply chain accounting and finance. New organisational forms demand new approaches to accounting and finance in order to maximise opportunities arising out of collaborative forms of engagement. Firms compete with each other on the relative merits of their respective supply chains and therefore accounting and finance practices must support this reality rather than being rooted in traditional organisational settings. The unit will critically evaluate accounting and finance in this context and identify developing tools and techniques in the area.

15 credits

International Financial Reporting

The module should develop within students a critical understanding of the theory, principles and empirical practice upon which modern international corporate reporting is based. In particular, it will explore the application of multi-national regulatory frameworks and examine in detail the conceptual, political, and technical aspects of controversial accounting/reporting standards and their impact upon reported results.

15 credits

Performance Management

This module develops student understanding of the management of corporate performance beyond budgetary control. It considers contemporary pressures on strategic managers, such as the competitive environment, stakeholding, sustainability and risk that cause us to question the traditional singular focus on internal financial metrics. The module uses conceptual models and innovations in practice to provide alternative frameworks which address these multiple dimensions. Its content is technical and behavioural, as recognition of both is essential to designing a performance management system which suits a particular organisational context, and is aligned with its objectives.

15 credits

Sustainable Finance

In the transition to a low-carbon world, Sustainable Finance has emerged as a critical area for teaching and learning. It plays a vital role in addressing climate change and mobilising investment for resilient growth. This module examines climate-related risks in finance and investment decisions while incorporating environmental, social, and governance (ESG) criteria into corporate finance. You will learn how investing in sustainability-focused businesses can lead to improved financial performance and the creation of resilient organisations.

15 credits

Portfolio management and investment

This module will introduce you to traditional, modern, and digital investment tools in global financial markets and how these are traded. It will also cover the role of financial analysis, statistical techniques, and recent Artificial Intelligence advances in helping investors identify investment opportunities and manage risk. You will learn how to identify, measure and manage the risks associated with individual assets and how to combine them into an efficient investment portfolio. Lab sessions will be based in a computer lab enabling students to utilise a wide range of data sources and trading platforms, such as Bloomberg.

15 credits