Master of Science Degree in Accounting and Finance

MASTER OF SCIENCE DEGREE IN ACCOUNTING AND FINANCE

NUST code:

 

DURATION:

 

TYPE OF DEGREE:

MASTERS

CREDIT LOAD:

320

LEVEL 
 

SADC-QF - Level 9

ACCREDITATION ORGANISATION(S)

 
 
Purpose of the Programme
The programme is designed to enhance and develop the knowledge and skills of accounting in public practice, industry and academia.  The degree encompasses studies at an advanced level in Finance and Managerial Accounting, Auditing, Corporate and International Finance and Investments.

Programme Characteristics

Areas of Study:    

Local and International Taxation.
The regulation of governance and recognizing international governance practices and links between governance and corporate performance.
Advanced Financial Accounting concepts and practices associated with International Financial Reporting Standards.
Case study analysis on global Financial Management Strategies.
Use and purpose of Accounting and Information Systems.
Project planning and managerial skills.
Management Accounting and Accounting systems in strategic leadership, resource management and organisation performance.
Organisational structure of international finance from corporate perspectives.
Specialist Focus:    Finance, Auditing, Financial Management, Managerial Accounting, International Finance and Corporate Governance.

Orientation:   
 
Research and innovation oriented. Teaching and learning are professionally oriented and focused on theoretical aspects.

Distinctive Features:
  
The programmeis tailored toprovideaccounting professionalswiththenecessary groundwork requiredwithintheaccounting field,including thelateststandardsthatrepresentbestpracticesin the industry.

Career Opportunities and Further Education
Employability:       Careers in the Accounting industry, Finance industry, Business industry and Academia
Further Studies:    Doctoral studies in Accounting, Finance or Business programmes related to commerce.

Programme Delivery
Teaching and Learning Methods: 
Lectures, seminars, group work, industrial visits, dissertation and individual independent study.

Assessment Methods: 
   
Written examinations, tests, assignments, oral presentations, seminar presentations, dissertation and continuous assessments.

Programme Competences

Generic:
Multidisciplinary: Ability to draw appropriately from multiple academic disciplines to define and solve problems based on understanding of complex phenomena.
Quantitative and innovative reasoning: Capability to draw on big data and use analytics for informed decision making and strive to seek new ways of doing things.
Communication skills: Ability to communicate effectively and to present information orally and in writing and using ICTs to both expert and non-expert audiences.
Analysis and synthesis: Capacity for analysis and synthesis using logical arguments and proven facts.
Ethical commitment: Professional integrity and awareness of impact of science and technology on society and the environment.
Entrepreneurial skills: Capability to identify and create new business ventures based on knowledge and new thinking paradigms.
Discipline specific:

Production skills:

Ability to manage accounting and business-related issues.
Technology development skills: Ability to develop new skills in accounting and business-related issues.
Problem-solving skills: Ability to solve a wide range of problems in Accounting, Taxation, Auditing, Financial management and Finance field by identifying their fundamental aspects and using theoretical methods.
Analytical and computational skills:  Ability to use data to analyse process performance and technological issues using appropriate IT packages.

Exit Level Outcomes

Problem solving
Identify, formulate, analyse and solve complex accounting, finance and business problems creatively and innovatively.
Application of Accounting knowledge
Apply knowledge of Accounting, Finance, Auditing, Taxation, Financial Management fundamentals and business skills to solve complex business problems.
Investigations and data analysis
Demonstrate competence to conduct investigations and analyse data in accounting and finance related field.
Accounting methods, skills and tools, including information technology
Demonstrate competence to use appropriate accounting methods, skills and tools including those based on information technology.
Professional and technical communication
Demonstrate competence to communicate effectively both orally and in writing with accounting audiences and the community at large.
Sustainability and impact of Accounting activity
Demonstrate critical awareness of the sustainability and impact of accounting activity on the social, industrial and physical environment.
Individual, team and multidisciplinary working
Demonstrate competence to work effectively as an individual, in teams and in multidisciplinary environments.
Independent learning ability
Demonstrate competence to engage in independent learning through well-developed learning skills.
Accounting professionalism
Demonstrate critical awareness of the need to act professionally and ethically and to exercise judgment and take responsibility within own limits of competence.
Accounting management
Demonstrate knowledge and understanding of accounting management principles and economic decision making.

Thisprogrammeisdesignedtoenhanceanddeveloptheknowledgeandskillsofaccounting in public practice, industry  and academia. The degree encompasses studies at an advanced level in finance and managerial accounting, auditing, corporate and international finance and investments.

Studentscompletingtheprogrammewouldhavestudiedallthenecessaryprerequisitemodulesto apply forassociatemembershipofkeyZimbabweanaccountingprofessionalbodiessuchas Association of Chartered Certified Accountants (ACCA), CIMA, Chartered Accountant (CA), Certified Public Accountant (CPA), Certified Institute of Secretaries (CIS) and Certified Financial Analyst (CFA).

Aims

The programme is tailored to provide accounting professionals with the necessary groundwork required within the accounting field, including the latest standards that represent best practices in the industry.

Objectives

To attain an advanced conceptual understanding of the fields of accounting and finance, complemented by a wide range of practical applications and case studies.

To gain an insight into research methodologies and techniques which extend and support their learning.

To expose them to the contemporary issues and problems confronting modern accountants and finance specialists.
For entry into the programme, a candidate must have a good honours degree or equivalent with a pass level of 2.2 or better from a recognised university in accounting and finance related fields. Working experience would be an added advantage.
The Programme

Formal examinations shall normally be held at the end of each part of the programme.

Module work shall account for 30% of the overall assessment while the formal examination shall account for 70% of the overall assessment.

The pass mark shall be 50% based on the aggregate of continuous assessment and the examination.

Students can proceed to the next level carrying previous modules, provided they pass at least 50% of the modules in the preceding stage. Students who fail to meet this condition are required to repeat the failed modules prior to proceeding to the next level. Students shall not be allowed to proceed to Stage III carrying a Stage I module, neither hall they be allowed to proceed to Stage IV (Dissertation stage) carrying any module from the preceding stages.

Grading System

The following grading system is adopted:


80%+                      Distinction

70%-79%                Merit

60%-69%                Credit

50%-59%                Pass

Below 50%              Fail

Duration of Programme and Delivery

The Programme consisting of module work shall normally be completed over a maximum period of 24 months on a part-time block-release basis.

On a block release basis, delivery is allocated as follows:

Year of Study

Number of Modules

Part I

Part II

4 Modules

4 Modules

Part III

Part IV

4 Modules

Dissertation (after completing Part 1, II and III)

Total number of Modules

36 Modules

1 Dissertation


Module delivery shall be divided into two components:

The taught component (Part I, II and III) comprises of 12 core modules.

The research component, in Stage IV, leading to a dissertation of approximately 20, 000 words excluding appendices.

The weighting of modules shall be based on the Notional Study Hours (NSH) credit system in which all learning activities of a student of average ability, taking place in and outside scheduled contact sessions, are taken into consideration (1 credit = 10 notional hours). A student must attain a prescribed minimum number of credits to qualify for the award of a degree.

Each module shall be taught for a total of not less than 56 contact hours.

Failure to Satisfy Examiners

A student who fails more than 50% of the modules taken in a particular part may, on the recommendations of the Senate, be granted permission to repeat the failed modules.

A student who is not allowed to proceed to the subsequent Stage of the Programme and has failed the same Stage of the Programme twice shall be required to withdraw from the Programme

A student who fails the dissertation stage with a mark in the range of 40-49% shall be given the option to re-submit within three months from the date of publication of results. The dissertation shall only attain a maximum of 50%.

A student who fails the Dissertation Stage with a mark below 40% shall be expected to apply to repeat the module.

A student who fails to complete the Dissertation Stage and does not submit the dissertation within the prescribed period shall be given the option to submit within three months from the date of publication of results. However, such a dissertation shall be awarded a maximum of a Pass grade.

Classification of the Degree

Students must satisfy the examiners in all the prescribed modules and in all requirements for the programmes in which they seek to be awarded the degree.

For the degree to be awarded, the minimum number of 320 credits must be satisfied.

The classification of the degree shall be as in the General Regulations.

 

 

PART 1

 

 

CAC 5101-International Financial Reporting and Analysis

CAC 5102-Assurance and Management Control

CAC 5103-Accounting Information Systems

CAC 5104-International Governance and Regulation

Total Stage I

20

20

20

20

80

PART II

 

CAC 5201-Advanced Financial Accounting

CAC 5202-Strategic Financial Management

CAC 5203-Local and International Taxation

CAC 5204-Project Management

Total Stage II

20

20

20

20

80

PART III

CAC 5301-Advanced International Financial Reporting and Analysis CAC 5302-Strategic Managerial Accounting and Performance

CAC 5303-Corporate Finance and Financial Markets

Electives (Select one)

CAC 5306-Public Sector Accounting/

CAC 5308-Corporate Governance Ethics

Total Stage III

20

20

20

 

20

20

80

 

PART IV

 

CAC 5400 Dissertation

 

80

 

 

Total MSc Accounting and Finance credits

320

 

Stage I [80 credits]

CAC 5101 International Financial Reporting and Analysis [20 credits]
The aim is to gain a comprehensive understanding of the framework, concepts, and practices associated with international financial reporting. A greater understanding of corporate valuation is acquired through the study of this module through the development of integral knowledge of financial statements and financial analysis. Upon completion of this module students should be able to better assess the tools, definitions, and acceptable practises of international financial reporting, based on the international financial reporting standards(IFRS), now required in many countries and economic trade areas. To help ensure short-term and long-term organisational success, the impact of financial and economic fluctuations are examined while topics such as foreign exchange, cash accounting, ratios analysis, and trend analysis shall be considered as well.

CAC 5102 Assurance and Management Control [20 credits]
The aim is to dissect how management controls the entity and relationships with external partners to enhance organisational value.  This module investigates the roles the roles of audit and assurance in management control and promotes organisational compliance with a focus on internal controls ,risk management procedures, assurance and management information. The concept of due diligence, including the acquisition and the monitoring of activities of business partners is also analysed at both the national and international levels. The student shall appreciate the nature and roles of assurance engagements and internal audits and develop an understanding of risk management and risk reporting in a global context.

CAC 5103 Local and International Taxation [20 credits]
The aim is to gain a comprehensive understanding of the regulations, concepts, and practices associated with local and international taxation. A greater understanding of taxation is acquired through the study of this module as you develop integral knowledge of the global taxation practices. Upon completion of this module students should be able to better assess the regulations, definitions, and acceptable practises of local and international taxation based on the different tax laws as required in many countries and economic trade areas.

CAC 5104 International Governance and Regulation [20 credits]
The aim is to analyse the regulation of governance, recognise varying international governance practise, and examine the links between governance and corporate performance. This module shall enable the student to gain a practical understanding of how governance structures can promote good decision making and performance and increase the accountability of directors and managers. Key external regulations can affect organisations such as international tax and law, are highlighted extensively. The capacity to assess and monitor direct remuneration shall also be an acquired asset by the time module is complete.

Year II

CAC 5201 Advanced Financial Accounting [20 credits]
The aim is to gain a comprehensive understanding of the advanced financial accounting concepts, and practices associated with International Financial Reporting Standards. A greater understanding of group financial statements, accounting for foreign currency transactions and financial instruments is acquired through the study of this module as students develop integral knowledge of financial statements. Upon completion of this module students should be able to better assess the tools, definitions and acceptable practises of International Financial Reporting Standards.

CAC 5202 Strategic Financial Management [20 credits]
The aim of this module is to examine and integrate into practice a blend of global financial management strategies and case-based applications.
Through intense case study analysis, this module focuses on topics that range from the acquisition, deployment and management of international financial resources, to financial planning and analysis. The student shall learn how to devise strategies for identifying and developing international financial resources, and to effectively communicate these strategies with organisational team members, partners and governments. The student shall also become adept at analysing an organisation for reorganisation and restructuring from a strategic perspective.

CAC 5203 Accounting Information Systems and Technology [20 credits]
The aim is to introduce the use and purpose of accounting information systems (AIS) and other relevant technologies from a value creating and organisational alignment perspective.
Multiple approaches for employing (AIS) are investigated in this module through a variety of decision making and critical thinking approaches. The student shall understand how appropriate internal controls are established and how to verify compliance through audits linked to AIS. This module shall equip the student with the skills to analyse business processes and optimise organisational performance by means of AIS, and the aptitude to develop decision making models linked to organisational strategies. The students shall also evaluate the challenges associated with computer crimes and information technology security.


CAC 5204Project Management [20 credits]
The module aims to enable students to develop project planning and management skills following the learning by doing approach. It involves policies, plans and project problem analysis, project identification, stakeholder analysis, alternative option analysis using financial, economic and social criteria, project selection, project planning and budgeting, human resources arrangements, inception phase and annual work plans, accounts keeping, financial reports and final project report. The module takes a holistic approach to project appraisal from initiation to completion taking into account financial and non-financial effects.

Year III

CAC 5301 Advanced International Financial Reporting and Analysis [20 credits]
The aim is to enhance the knowledge and skills acquired from prior International Financial Reporting and Analysis study and to provide more advanced practice of the application of the application of international financial reporting standards (IFRS).  This module involves an in-depth analysis of IFRS, which includes the application of its regulations and the interpretation of financial statements for the assessment of performance and position of an entity, the student shall earn how to apply IFRS to a variety of transactions, assess organisational position and understand the reporting of assets, liabilities, provisions and equity. The module also includes subject matter such as reporting overseas activities and advanced group accounting.

CAC 5302 Strategic Managerial Accounting and Performance Management [20 credits]
The aim is to explore the use of management accounting and accounting systems to link strategic leadership, resource management, and organisational performance. This module develops the ability to manage resources, create and sustain value, and develop a system of organisational score and goal-keeping tools. The ability to integrate these skills with accounting systems shall enable the organisation to make performance-based decisions. The student
shall be able to ascertain, measure, and revise strategic goals associated with performance and develop a performance metrics system that shall measure performance against the overall organisational strategic goals. In addition, ethical and moral dimensions of strategic financial decision-making shall be explored.

CAC 5303 Corporate Finance and Financial Markets [20 credits]
The aim is to deliver an understanding of the organisational structure of international finance from a corporate perspective and provide an overview of financial markets and institutions, enabling students to understand and critically assess a broad array of economic and financial information. A variety of related subjects including international trade policy; payment methods; how foreign exchange impacts on an organisation; transfer pricing and sources and use of global funds are discussed. The student shall also gain a practical understanding of how trends in the balance of trade and balance of payments, and the global demand for commodities, affect organisations linked by the global economy. In addition, a wide range of relevant topics shall be explored, including the flow of funds from lenders to borrowers. The role of financial intermediaries, investment banks, and securities firms shall be emphasised. Money and capital markets are analysed, and students shall investigate foreign
Exchange rate regimes, and the role played by multilateral financial organisations in the global economy.

Elective Modules

CAC 5304 Social Entrepreneurship [20 credits]
The objective of this module is to examine the characteristics and goals of the social entrepreneur as well as an in-depth view into the practises of creating social value for individuals and communities.
The student’s ability to develop and implement social change shall increase significantly as the student becomes acquainted with the theories of social entrepreneurship and learn how to identify the characteristics of the social entrepreneur. Upon completion of this recommended module, the student shall also be able to evaluate the organisational structure, human resources, funding, marketing and stakeholder participation; all vital success factors in a social change project. The study of the theories and practice of creating partnerships for social change, the aptitude to resource initiatives to link community needs and the talent to develop a plan to implement social change shall all be covered in this study of social entrepreneurship.

CAC 5305 Treasury Management and Ethics [20 credits]
The aim is to explore, form a practical perspective, the tools used in managing the treasury function of an organisation. This module studies the instruments necessary to finance an organisation, including banks as well as the money and capital markets. This shall involve topics such as risk mitigation techniques, payment methods, data transfer, and working capital management methods. The student shall learn how to determine a proper capital structure, manage the costs of long-term capital, and quantitatively evaluate capital resource investments.

CAC 5306PublicSectorAccounting [20 credits]
The aim is to gain a comprehensive understanding of the framework, concepts and practices associated with International Public-Sector Reporting Standards. A greater understanding of International Public-Sector Accounting Standards would help students acquire knowledge on how to assess the performance of public sector entities .Upon completion of this module students should be able to better assess the tools, definitions and acceptable practices for public sector entities as set out in standards developed by the International Accounting Standards Board.

CAC 5307 Municipal Accounting [20 credits]
The aim is to gain a comprehensive understanding of the framework, concepts and practices associated with municipal accounting as guided by International Public-Sector Reporting Standards. A greater understanding of the performance, financial position and cash flows of municipal entities is acquired through the study of this module as students develop integral knowledge of municipal financial statements. Upon completion of this module students should be able to better assess the tools and, definitions and acceptable practices for municipal accounting.

CAC 5308FinancialMarkets Corporate Governance Ethics [20 credits]
The module focuses on how ethical and moral considerations are included in the public issues facing organisations and the decision-making process of managers. It covers the following areas: ethical theories and principles, ways of improving ethical practices in organisations, fraud detection and reduction, corporate control strategies, getting insight into indifferent corporate governance systems, models and mechanisms; stakeholder rights and responsibilities and other corporate governance aspects relating to shareholders and stakeholders.

Year IV
CAC 5400 Dissertation [80 credits]
A student is required to write an original dissertation relevant to the field of study.
   
Stage 1

$950

Stage 2 & 3

$940

Stage 4

$595

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