LAW FOR ACCOUNTING PROFESSIONALS - 2020/1
Module code: MANM369
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.
Surrey Business School
DALE Stephen (SBS)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 7
JACs code: M200
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
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.
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.
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.
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.
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
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 type||Unit of assessment||Weighting|
|Coursework||INDIVIDUAL COURSEWORK (1500 WORD ESSAY)||40|
|Examination||EXAM OF 1.5 HOURS - CLOSED BOOK||60|
The student will be required to resit one or both assessments.
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.
- 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.
|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|
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
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.
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 2020/1 academic year.