LAW FOR ACCOUNTING PROFESSIONALS - 2018/9

Module code: MANM369

Module Overview

This course provides an opportunity for students following the MSc Accounting and Finance pathway, to be introduced to the overarching law of England and Wales which incorporates an understanding of applicable European and international legal law, the liabilities and remedies of civil and criminal law in practice, legislation, contract law, the tort of negligence, insolvency, employment law, company law and the ethics of accounting.

Module provider

Surrey Business School

Module Leader

DALE SM Mr (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

JACs code: M200

Module cap (Maximum number of students): N/A

Module Availability

Semester 2

Prerequisites / Co-requisites

None  

Module content

The following areas of Law will be covered:

 

English Legal System:



The sources of English Law.


The system of judicial precedent.


Statute law and interpretation


Criminal and Civil remedies and jurisdictional powers.


Legislation


The essential elements of the tort of negligence, including duty, breach and damage/loss/injury and the liability of professionals in respect of negligent advice.

 

Contract

The essential elements of a valid simple contract and the requirement of formality where appropriate.


Offer, acceptance, consideration and intention in the creation of a contract.


Contractual terms.


Unfair terms in respect of both consumer and non-consumer business agreements.


Performance of the contract and valid and invalid reasons for non-performance.


Breach of contract and the remedies which are available for serious and minor breaches of contract.

 

Employment Law


The difference between employees and independent contractors and how the contents of a contract of employment are established.


The distinction between unfair and wrongful employment.


The distinction between unfair and wrongful dismissal.


The statutory provisions for the protection of employees.

 

Trading vehicles and Company Law


Sole traders.


Partnership


Limited companies.


Insolvency


Professional obligations

 

Ethics in Business and Professional Life:


Values and attitudes for professional accountants.


Legal frameworks, regulations and standards for business.


Nature of ethics and it’s relevance to business and the accountancy profession. Rules based and framework approaches to ethics.


Personal development and lifelong learning.


Personal qualities of reliability, responsibility, timeliness, courtesy and respect.


Ethical principles of integrity, objectivity, professional competence, due care and confidentiality.


Concepts of independence, scepticism, accountability and social responsibility.


Assessment pattern

Assessment type Unit of assessment Weighting
Coursework INDIVIDUAL COURSEWORK (1500 WORD ESSAY) 40
Examination EXAM OF 1.5 HOURS - CLOSED BOOK 60

Alternative Assessment

The student will be required to resit one or both assessments.

Assessment Strategy

The assessment strategy is designed to provide the opportunity for the students to demonstrate the ability to apply the main principles of the law relating to the legal areas covered in this module and to apply these in practice through coursework and examination.

 

The summative assessment for this module consists of an individual assignment which will be directed at the area of ethical considerations relating to professional and business life.   Coursework will be required to demonstrate individual knowledge and research with a structured, reasoned and logical approach.  It will test understanding and the ability to apply knowledge. The purpose of this is to provide an opportunity to consolidate and enhance the learning from early lectures/seminars and to give the student the opportunity to gauge their progress.

 

Formative assessment and feedback

The formative assessment will be a written examination will be 1.5 hours in duration. Principally, the examination tests the students’ detailed knowledge of the required academic syllabus which incorporates the outlined reading requirements and the ability to analyse and apply the attained knowledge.

 

All students will receive feedback on their performance during the module through allocated tutorial timeslots, via written and oral feedback.  In addition, ongoing support and feedback will be administered through VLE/SurreyLearn.

Module aims

  • To endow accountancy students with the appropriate level of knowledge of the fundamentals of English Law relating to business law to enable them to fulfil their responsibilities to their future business clients and to carry on business themselves and understand the requirements of their professional obligations.

Learning outcomes

Attributes Developed
001 Explain fundamental aspects of the organisation and operation of the English legal system. KPT
002 Explain the essential elements of a simple contract, what is regarded as adequate performance of the simple contract and the remedies available to the innocent party in the event of a breach. KCPT
003 Explain the elements of the tort of negligence and the manner in which the tort impacts upon professional advisers KCPT
004 Comprehend the basic principles of employment law KCPT
005 Evaluate the differences of trading solely, in partnerships and as a limited company KCPT
006 Identify instances of malpractice, fraud, money laundering and the inherent consequences within the workplace KCPT
007 To comprehend the ethical dimension of the responsibilities of those involved in accountancy and finance and, in particular
008 Apply the values and attitudes that provide professional accountants with a commitment to act in the public interest and with social responsibility
009 Explain the need for a framework of laws, regulations and standards in business and their application
010 Explain the nature of ethics and its application to business and the accountancy profession
011 Identify the difference between detailed rules-based and framework approaches to ethics
012 Explain the need for continual personal improvement and life long learning
013 Explain the need to develop the virtues of reliability, responsibility, timeliness, courtesy and respect
014 Explain the ethical principles of integrity, objectivity, professional competence, due care and confidentiality
015 Identify concepts of independence, scepticism, accountability and social responsibility
016 Explain the reasons why CIMA and IFAC each have a ‘Code of Ethics for Professional Accountants’. KCPT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Overall student workload

Independent Study Hours: 117

Lecture Hours: 22

Tutorial Hours: 11

Methods of Teaching / Learning

The teaching and learning strategy is designed to develop an understanding and critical awareness of the essential principles of the law relating to the fundamentals of law surrounding business, accounting, finance and ethics, so as to develop an ability to apply the legal principles in an appropriate way.

The learning and teaching methods include lectures and tutorials.  The lectures will introduce the students to the subject areas and provide an over-view to enable students to understand the basic principles and underlying concepts.  The tutorials will open out the subject, consider key principles and legislative provisions and provide the student with signposts to background and supplementary reading.  During tutorials students will be expected to have prepared and developed topic areas and to take an active role in discussing them.  Students will be expected to appreciate the relevance of the law covered to their future professional activities.  Their ability to challenge the propositions of others and to respond to challenges to their own will be monitored and developed.  

The form of the tutorials will include the consideration of legal questions and scenarios mirroring real life.   Special importance will be assigned to the student’s ability to analyse legal issues and present realistic conclusions in language comprehensible to commercial clients.  The teaching and learning strategy is designed to stimulate private study using and to develop an understanding and critical awareness of the commercial imperatives, values, essential principles and ethical considerations in accountancy and financial management.

 



A wide variety of methods of teaching and learning.


Progression from introductory courses to more advanced options.


Courses informed by current research of teaching staff.


Opportunities both for independent learning and for problem-solving with other students.


Innovative use of IT resources.


Varied methods of assessment.



 

To pass this module the student will demonstrate a knowledge and application of the key aspects surrounding the legal and ethical principles in business, accountancy and financial management.

Hours per week





Activity


Hours




Lectures


22




Tutorials


11




Directed learning


33




Self-directed learning


84




Total


150




Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

Reading list for LAW FOR ACCOUNTING PROFESSIONALS : http://aspire.surrey.ac.uk/modules/manm369

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2018/9 academic year.