Fourth Year – Accounting Specialisation
The structure of the Fourth-year curriculum is depicted in Table 1.5.
Note 1: This course is assessed on annual basis.
Note 2: According to the internship guidelines of the Department of Accounting, students are required to complete 150 notional hours to be eligible to obtain 01 credit for internship. The required notional hours are accordingly distributed across the two semesters of each academic year.
Note 3: Under this course, each student is assigned a research supervisor concurrently with the lecture series conducted on research methodology. Students are required to develop a research proposal under the guidance of the assigned supervisor and submit it for evaluation at the end of Semester I of Year 4. Based on the approved research proposal, students are expected to conduct a research study, which will culminate in either a Research Report (ACC 4376) or a Dissertation (ACC 4677) during Semester II of Year 4.
The elective courses offered during the Year 4, Semester II are depicted in Table 1.6.
Description of Courses
A short description of each course offered during the fourth year is provided below.
ACC 4370: Governance, Ethics and Risk Management
This course provides the students with a sound understanding of the concepts and issues relating to corporate governance and controls, risk management and ethics, and their interrelationships. Accordingly, this course covers various philosophical bases of corporate governance and ethics, different regimes of corporate governance that exist in the world, different regulatory frameworks, corporate governance mechanisms, types and sources of risks faced by an organisation, and how these risks can be managed, controlled and mitigated (with an emphasis on combined assurance), in the context of overall business strategy and governance structure of an entity, and the movement towards an integrated corporate governance system. Further, this course discusses the professional and corporate ethics with theoretical explanations and practical applications.
ACC 4371: Accounting Theory and Contemporary Issues
The objective of this course is to provide the students with a sound understanding of theories that are integral to accounting practice, make them appraise the implications of these theories on the accounting practice and assess the contemporary issues surrounding the application and decision-making relating to accounting practice. Accordingly, this course covers accounting theory and regulations, international accounting, normative theories of accounting, positive theories in accounting, accounting research and theory, alternative perspectives of accounting, and contemporary accounting issues including the factors or incentives that exist for preparers of accounting reports, choice of accounting methods, provision of voluntary disclosures, sustainability and integrated reporting, contemporary performance measurement systems, management control systems and sustainable controls, better budgeting and beyond budgeting and link between accounting systems and sustainability strategy.
ACC 4372: Research Methodology and Proposal Writing
The objective of this course is to develop the students’ competence and proficiency in conducting a research study. This course has two components: (a) a lecture series on research methodologies and (b) the development of a research proposal by each student under the guidance of the allocated supervisor. The lecture series introduces and discusses approaches, strategies, and methodologies used in social science research with a specific emphasis on literature review, data collection methods and data analytical techniques. Concurrent to this lecture series, each student is required to work with the assigned supervisor and develop a comprehensive research proposal. Based on this research proposal, each student will conduct a research and produce either a research report or a dissertation by the end of Semester II, Year 4. During this course, the students are expected to develop a high level of intellectual ability, critical analysis, and skills in the application of theories and methods in research.
ACC 4673: Internship in Accounting and Finance II
This Stage 2 of the Internship Programme provides students with the opportunity to continue their training covering more advanced aspects of internship including, accounting systems, procedures, and processes; auditing and assurance services; financial and corporate reporting; management accounting; taxation; financial management; corporate governance; forensic accounting; and data analytics in accounting. Accordingly, this course aims at providing the students the opportunity to: (a) analyse the issues associated with the application of theoretical concepts/techniques of accounting and allied fields in diverse work-settings and assignments; (b) improve higher order generic skills and abilities expected in accounting professionals; and (c) demonstrate professional and ethical conduct in diverse work environments and inter-disciplinary groups in organisations. The students who have opted to start a business venture can continue with their venture under the supervision of the Department of Entrepreneurship. With the conclusion of this two-year internship programme, the students acquire firm foundation to step into the world of work as future-ready accounting professionals with the right blend of knowledge, skills, attitudes, and values. The level of achievement and professional development of the students at the end of Year 4 are assessed using multiple modes including supervisor independent evaluation, training record evaluation, viva-voce examination, and a reflective journal.
BUS 4370: Strategic Management
Provides a holistic understanding of corporate and business strategy. It focuses on analysing the internal and external environment, choosing strategic directions, and executing strategies to support long-term survival, growth, and competitive advantage.
ACC 4374: Strategic Management Accounting
The Strategic Management Accounting (SMA) course unit aims to provide the students with an understanding of the role of the accounting professional in business in the ‘Strategic Management Process’. In this process: Strategising the market through strategic pricing, product development and market expansion; Strategising the value chain through quality management, cost management and managing flexibility; Strategising the organisational hierarchy, through maintaining strategic connections between the market and the value chain through organisational control systems and performance management; and Strategising the social and environment through sustainability goals would be discussed. The SMA course unit also focuses on the changing role of the accounting professional in business, from a ‘Scorekeeper’ to an ‘Internal Business Consultant’ by linking business processes with its financial implications, by working in multidisciplinary teams. Business issues emerging with the events occurring in the political, economic and social spheres in the business environment would also be discussed. How these business issues would be addressed by managing customers and competitors for sustainable profits, would also be discussed. The course unit basically takes a conceptual-practical-interpretive approach.
ACC 4375: Business Analysis and Valuation
This course provides a framework that helps to analyse the corporate financial statements and reveal their value with an emphasis on corporate social responsibility and its effects on sustainable profitability. This is a capstone course that brings together areas of financial accounting, finance, and strategic management. Hence, in this course, the students are made to appreciate and understand the connections between the strategies of a firm and its operating, investing, and financing activities within the broad socio-economic context, and thereby develop the students‘ ability to analyse and interpret financial as well as ESG (environment, social and governance) information of a firm to gain further insights into its performance from an analyst‘s point of view. The main areas covered are: business environment and strategy analysis used in developing a firm’s competitive strategy; accounting analysis for assessing the representation of business strategy and economic reality in financial statements, and developing adjusted accounting measures of performance; financial analysis to evaluate performance, risk and cash flows; prospective analysis and company valuation using free cash flow approach and residual income models; and evaluation of firm performance using both financial and non-financial indicators.
ACC 4376: Research Report
During the course, students continue to work under the assigned supervisors and conduct research studies based on the proposals developed during the course ACC 4372 Research Methodology and Proposal Writing. This course provides each student with an opportunity to investigate an issue in accounting, finance, or management, develop research skills and gain experience of an independent research study. The students are expected to relate the issue investigated to the body of extant theoretical and empirical research on the topic, establish a sound methodology to investigate the research issue, develop research findings based on the chosen methodology and write a research report.
ACC 4677: Dissertation
During the course, the students continue to work under the assigned supervisors and conduct research studies based on the proposals developed during the course ACC 4372 Research Methodology and Proposal Writing. This course provides each student with an opportunity to conduct an in-depth investigation of an issue in accounting, finance, or management, carry out a comprehensive analysis based on a sound theoretical framework and write a dissertation. It is designed to encourage a student centered approach to deep learning using positivistic or/and post-positivistic research paradigms grounded on a sound theoretical basis and develop confidence in conducting a research study independently.
ACC 4378: Advanced Auditing and Assurance Services
This course provides students with a sound conceptual understanding of key topics in governance, risk, and modern risk-based auditing. It equips students with the skill of applying Sri Lanka Auditing Standards (SLAuS) in auditing a set of LKAS/SLFRS compliant financial statements. The areas covered are: governance, risk, and controls; accountability and audit; ethical issues; current and emerging trends that have reshaped auditing professions; audit quality and practice management; integrated internal control framework; risk-based audit planning; formulating testing strategies; audit of complex areas; auditing group of companies; audit reporting; and sustainability audits and assurance. In the delivery of the course, the case study analysis is adopted.
ACC 4379: Public Sector Accounting and Finance
The course focuses how the various types of public sector entities make the best use of the vast resources entrusted to them in creating value to the public. Hence, the course examines accounting and financial management in the context of Sri Lankan Public Sector organisations. Accordingly, the role and nature of public sector accounting, and theories that underpin current accounting practices are discussed in this course. In this course, literature will be drawn from a range of disciplines, including economics and public management as well as accounting and finance. The course covers five modules: governance and decision-making process; financial planning and budgeting; public sector accounting and reporting; decision support; and public sector auditing. The course content will focus on applied knowledge by using authentic business scenarios that require students to demonstrate the application of technical knowledge. Further, the improvement of workplace skills such as teamwork, communication, problem solving, and analytical skills are integrated into the course.
ACC 4380: Blockchain in Accounting
The aim of this course is to familiarise the students with the blockchain technology and its applications in accounting and financial management processes in an organisation. Further, students are expected to critically evaluate how and why accounting and financial management processes impact by disruptive technologies with a special emphasis on the blockchain technology. Accordingly, the specific topics covered in this course include, history of blockchain and cyber currency systems, blockchain functionality, risks, and threats, blockchain adjacent technologies such as smart contracts, and the application of blockchain and related technologies in diverse business environments and processes, the related regulatory considerations and the criticisms and limitations of blockchain.
FIN 4378: Contemporary Issues in Finance
This course is made up of a combination of lectures, seminars, workshops and student presentations, discussion on research papers & case studies and aims to achieve the learning outcomes by critical examination of current issues in local and global context relevant to the field of finance. This is not a traditional theory-based course unit, but a review of the current global and local issues in finance field to understand the current dynamic environment as a learner. Further, the industry practitioners share their experiences related to the current issues with learners through workshops and seminars, which enhance learners’ practical knowledge on finance.
FIN 4379: Entrepreneurial Finance
This is a specialised course designed to introduce financial thinking and the tools and techniques adapted to deal with the new, young, and small business ventures. The course covers the theories, knowledge, and financial tools an entrepreneur needs to start, build and harvest a successful venture. This course incorporates a life cycle approach of successful ventures typically begins with an initial development stage, startup stage, survival stage, rapid growth stage, and early maturity stage. The major areas of coverage include organising and operating the venture, planning for the future, creating and reorganising venture value, structuring finance for the growing venture, and exit and turnaround strategies. The knowledge and skills learned would be invaluable for all students, whether they find a job in an entrepreneurial enterprise, work in an established firm or start a company of their own.
LAW 4372: Commercial Administrative Law
Commercial Administrative Law is a core/an elective subject offered by the Legal Studies Unit. Commercial Administrative Law also has an international dimension as a result of increasing internationalisation and it is a special subject area in the field of administrative law, which deals with the regulations that apply to the interaction between businesses and public authorities. This cross-disciplinary course intended to help undergraduates attain a basic knowledge of the businesses interact with the public sector in a number of legal areas. Law of Contracts, Human and Fundamental Rights, Administrative Law, Environmental Law, Public Procurement Law, Construction Law, Bribery and Corruption Laws, Information Technology Law and Tax Law are just some examples of legal areas in which such interactions could occur. The course is designed to equip undergraduates to appreciate the very effect of areas of law in their work and to be ready for as they encounter legal issues and business issues throughout their career.
LAW 4373: Information and Communications Technology Law
This course will offer an exclusive opportunity to study the initial aspects of elements of Information and Communications Technology (Cyber) Law. It aims to provide students with knowledge of the legal perspectives of elements of Information and Communications Technology Law in the sphere of commercial studies. The course will also discuss the recent trends and current developments in this area of law at the domestic and international levels.
ENT 4378: Managing Creativity and Innovation
This is one of the central course units in the Entrepreneurship Degree programme, which is motivated on evolving human creativity and managing innovations among the students. This involves in discussing basic concepts in creativity and innovation, creativity and problem solving, the creative process, obstacles which inhibit creativity, overcoming obstacles and developing creativity, key elements of creative thinking, approaches to creative thinking, inventions and innovations, different types of innovation, process of innovations and systematic view of innovation. Management games and workshops with brainstorming will be used as the basic techniques in changing traditional framework of thinking and developing the necessary skills.