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.

(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. Students will evaluate different issues and problems raised in published literature which will help them in adapting and dealing with different circumstances.

(S2) Problem solving. Students will work on analysing problems raised in published literature.

(S3) Commercial awareness. Students will work on cases and problems raised in published literature about real world business operations.

(S4) Teamwork. Students will work in teams for the tutorials.

(S5) Organisation skills. Students will work in groups for their tutorials and course assessment.

(S6) Communication skills. Students will develop oral communication skills through group discussions in tutorials and written communication skills through their assessed coursework.

(S7) International awareness. Students will develop awareness of cases and problems in published international literature.

(S8) Lifelong learning. Students will develop understanding and critical evaluation of published research papers.

(S9) Ethical awareness. Students will develop an understanding of issues related to accountability, risk and corporate social responsibility.

Lectures x 25 hours
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.

Tutorials x 10 hours
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.

Self-Directed Learning x 115 hours
Students will use self-directed learning hours to research deta iled background information necessary for successful completion of the module.

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.

Governance theories:

Agency theory;

Stakeholder theory;

Stewardship theory;

Theories of Convergence.

Accountability, corporate social responsibility and ethics.