ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title THEORETICAL DEVELOPMENTS IN ACCOUNTING AND FINANCE
Code ECON822
Coordinator Dr Z Zhang
Finance and Accounting
Ziyang.Zhang@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2019-20 Level 7 FHEQ Second Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 25

   10

       35
Timetable (if known)              
Private Study 115
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Examination There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Semester 2  120 minutes.    50       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Individual written assignment There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Semester 2  3000 words    50       

Aims

This module aims to:

Provide students with an in-depth conceptual understanding of theoretical developments and frameworks in accounting, finance and related areas of research.

Prepare students to understand and critically appraise historical as well as current developments in the key areas of research with a specific reference to the importance of theoretical contributions and their roles in building up research frameworks.

Equip students with skills of understanding the theoretical background of research projects, and its relevance and importance for interpreting and explaining the research aims, objectives, methods, and findings.

Extend students’ theoretical research skills and explores the roles of theory in assessing research contributions.

Enable students to understand and evaluate the main elements and contributions of theoretical frameworks in research, and the application of research findings to the corporate settings of contemporary org anisations.

Learning Outcomes

(LO1) Understand and evaluate the main issues covered in classical as well as contemporary accounting, finance and other relevant theories and their importance and application in building up research frameworks.

(LO2) Critically evaluate and explain the role of theoretical framework in research projects and its application in identifying appropriate methodology and research contributions.

(LO3) Comprehend and critically appraise the prevailing regulatory structure and the role of theory in building up and enhancing future regulation for the financial and non-financial sectors resulting from latest research findings.

(LO4) Acquire knowledge of a range of theoretical frameworks in accounting, finance and relevant research areas, and their application in organisational and market developments.

(LO5) Critically appraise different theories in relation to methodological issues and practically link those theories to the findings and contributions of published research papers.

(S1) Adaptability

(S2) Problem solving skills

(S3) Commercial awareness

(S4) Teamwork

(S5) Organisational skills

(S6) Communication skills

(S7) International awareness

(S8) Lifelong learning skills

(S9) Ethical awareness

Teaching and Learning Strategies

Teaching Method 1 - Lecture
Description: Lectures will be used for the development of key concepts and knowledge of issues in relation to the understanding of theoretical developments in related research areas. Lectures will also help students in the development of different theoretical research skills and provide opportunities for analysing and critically evaluating classical as well as contemporary theories in accounting, finance and other relevant research areas.
Attendance Recorded: Yes

Teaching Method 2 - Tutorial
Description: Tutorials will be used for supporting and producing an in-depth understanding of issues covered in lectures. Through the application of interactive as well as self-directed learning methods, tutorials are used for developing students’ knowledge for analysing and critically evaluating; classical as well as latest theoretical developments in accounting, finance and other relevant research areas.
Attendance Recorded: Yes

Syllabus
 

Historical Developments and Issues in Agency Theory and Theory of the Firm

Development in Accounting Theories:

Inductive Accounting Theories
Predictive (Positive) Accounting Theories
Prescriptive (Normative) Accounting Theories
Ohlson’s Accounting based Valuation Model
Management Accounting theories

Critical Perspectives of Accounting

Developments in Auditing Theories:

Policeman Theory
Credit Credibility Theory
Theory of Inspired Confidence
Agency Theory

Finance Theories:

Arbitrage Pricing Theory
Rational Choice Theory
Prospect Theory
Monte Carlo Option Model, and Binomial Options Pricing Model
The Gordon Model
International Fisher Effect
The Black Scholes Model, and Black Model
Legal Origins Theory

Theories of Regulation:

Public interest theory of Regulation
Private interest theory of Regulation

G overnance Theories:

Agency theory
Stakeholder theory
Stewardship theory
Theories of Convergence

Accountability, Corporate Social Responsibility and Ethics

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.