Overview
The study of accounting and finance helps to develop a methodical approach to important issues in society and the economy, such as the structure of organisations and markets. However, students of accounting and finance are being equipped with more than just computational skills. They learn to analyse ways in which management, shareholders, and various other stakeholders understand and operate organisations and institutions within the economy and society. Students also learn how markets allocate finance to firms and ventures and how and why institutions and governments monitor and regulate capital and information flows.
Features of LSE courses
The Department of Accounting at LSE enjoys a strong international reputation for teaching and research on the economic, institutional and organisational aspects of accounting and financial management. The BSc Accounting and Finance also draws on expertise from faculty in the Department of Finance at LSE. Because of the expertise across the two areas of accounting and finance, our programme is widely regarded as being world-leading in the field.
Our aim is to give students an understanding of accounting and finance that will be useful throughout their careers. Though grounded in accounting and finance the programme draws on other core social science disciplines so as to be relevant to a wide range of areas. This means that, unlike professional courses, we teach accounting and finance techniques to enable our students to critically evaluate their suitability and usefulness in different contexts. This makes our graduating students highly sought after by a wide range of organisations globally in any area related to accounting as well as finance.
LSE places great emphasis on the development of its faculty, which in our Department includes internationally acknowledged leaders in both academic research and in professional accountancy and the financial markets.
The Department of Accounting strongly supports the activities of the LSESU Accounting Society, an enterprising group of students within the School.
Degree structure
The degree involves studying 12 courses over three years, plus LSE100. Half of these are in accounting and finance, and half in related disciplines, which reinforces the diverse social science approach we bring to the study of accounting and finance. It is important to note that you will develop core knowledge and skills in both accounting and finance, where you will have the opportunity to specialise to a certain degree in various fields within these subject areas.
What the selectors are looking for in an application
The selectors are looking for students with strong analytical abilities and a high level of numeracy. They are also looking for the ability to evaluate and critically assess complex issues and current developments in both practice and theory. The majority of successful applicants will have taken Mathematics as an A level (or equivalent) although this is not compulsory.
In accounting the ability to communicate complex ideas with clarity is important. Selectors are therefore looking for an original, interesting and well-written personal statement which outlines your enthusiasm and motivation for the programme.
You should explain why you wish to study the programme, whether there are any aspects of particular interest to you, how this relates to your current academic studies and what additional reading or relevant experiences you have had which have led you to apply.
You can also mention extra-curricular activities such as work experience, sporting, charitable or artistic endeavours, as they can provide evidence of personal commitment. You can also comment on any work experience linked to the business or financial world which you have, and its relationship to this degree programme.
Personal characteristics and skills that will be useful to students on this programme include the ability to apply logic, identify trends, follow lines of reasoning, approach problems creatively, ask questions, demonstrate attention to detail and think independently. In addition you should possess good communication skills, intellectual curiosity and have the motivation and capacity for hard work.
Please visit lse.ac.uk/ug/apply/acc for further information about admissions criteria.
Teaching and assessment
You will usually have about 12 to 15 hours of lectures and classes each week but you will also have to work hard on your own – reading, writing essays or working on class assignments. You will have an academic adviser from the Department of Accounting. The adviser's role is to follow your progress and deal with any concerns you might have.
You will usually be assessed by written examinations at the end of each academic year. Some courses are assessed partly by essays or other work submitted during the year.
Professional training
If you successfully complete the degree, then depending on the options you have taken, you may obtain exemptions from some examinations of the professional accountancy bodies. However, professional syllabuses are subject to frequent revision and it is not possible to specify now what exemptions may be available when you graduate. Further information can be obtained from the Department or from the professional accountancy bodies themselves, including the Institute of Chartered Accountants in England and Wales (ICAEW), the Institute of Chartered Accountants of Scotland (ICAS), the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA) and the Chartered Institute of Public Finance and Accountancy (CIPFA).
Preliminary reading
If you wish to gain further insight into the subject we suggest that you look at one of the following books:
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P Atrill and E McLaney Financial Accounting for Decision Makers (7th edition, FT Prentice Hall, 2013)
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A Bhimani, C T Horngren, S M Datar and M V Rajan Management and Cost Accounting (5th edition, FT Prentice Hall, 2012)
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Z Bodie, R Merton and D Cleeton Financial Economics (2nd edition, Prentice Hall, 2009)
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W Clarke How the City of London Works (7th edition, Sweet and Maxwell, 2008)
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P Howell and K Bain Financial Markets and Institutions (5th Edition, FT Prentice Hall, 2007)
Graduate destinations
Recent graduates have gone on to work in the areas of professional accountancy, investment banking, investment analysis, management consultancy and financial management, the public sector, policy and standard setting organisations, think tanks, as well as further academic study.