Accounting and Finance

Learning Outcomes, Assessment criteria and Indicative contents

Learning Outcome –
The learner will:
Assessment criterion –
The learner can:
Indicative contents

1. Understand different types of
securities.
1.1 Explain types of securities and associated
concepts.
1.2 Evaluate key characteristics of each type
of security.
Bonds
 Types and characteristics
 Pricing bonds
 Bond yields
 Term Structure of Interest Rates
 Theories of term structure
 Bond risk - types and measurement.
Equities
 Types and characteristics

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 Measures of equity performance
 Equity pricing
 Risk
 Equity evaluation.
Securities
 Types and characteristics
 Synthetic securities - swaps, bundled and
unbundled securities.
2. Understand the regulation of
security trading and new
issues in world markets.
2.1 Explain regulations and procedures used
in trading securities.
2.2 Analyse the policies and procedures
relating to the trading of securities and
new issues in world markets.
2.3 Assess issues in global markets including
the London Stock Exchange.
Derivatives
 Description
 Evaluation
Forward contracts
 Description
 Evaluation
Financial futures
 Characteristics
 Operation of futures markets
 Types of financial future
 Pricing financial futures.
Financial options
 Characteristics
 Operation of options markets
 Types of option
 Option pricing
 Warrants
 Convertible
3. Be able to apply principles of
investment theory, securities
and market analysis.
3.1 Explain the principles of investment
theory.
3.2 Evaluate the use of securities.
3.3 Critically assess the underlying concepts
of market analysis and efficiency.
Motives for investment
 Risk & return
 Pricing securities
 Market efficiency.
Money Market Investments
 Markets & investors
 Securities quoted on a yield basis

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 Securities quoted on a discount basis.
4. Understand the principles of
taxation.
4.1 Explain indirect and direct taxes.
4.2 Analyse the characteristics of indirect and
direct taxes.
4.3 Assess the principles of taxation and their
implications for relevant stakeholders.

Taxation: Definitions and characteristics of-
 Income tax
 Capital gains tax
 Inheritance
 Corporation tax
 Sales tax
 Value Added Tax (VAT)
 Progressive v Regressive taxation.
Principles of Taxation
 Principle of simplicity
 Principle of convenience
 Principle of certainty
 Principle of equality.
5. Understand the laws and
regulations controlling the
financial services industry.
5.1 Explain laws and regulations controlling
the financial services industry.
5.2 Evaluate a range of risk mitigation
methods used in investments.
5.3 Analyse practical risk mitigation methods.

Hedging
 Nature & objectives
 Hedging risk on individual equities
 Hedging market risk on equity portfoliosHedging
interest rate risk.
Speculation
 Nature & objectives
 Speculation using futures
 Speculation using options.
Arbitrage
 Nature & objectives
 Arbitrage using futures
 Arbitrage using options
6. Be able to plan, manage and
assess client portfolios.
6.1 Explain client portfolios in accordance with
customer profiles.
6.2 Make justified recommendations of
appropriate types of savings and
investments.
6.3 Critically assess issues relating to portfolio
management.
Portfolio Management
 Functions of portfolio management
 Active and passive portfolio management
 Portfolio performance measurement.
Managing Client Portfolios
 The Efficient Markets Hypothesis

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 The Capital Asset Pricing Model
 The Arbitrage Pricing Model
 Implications for investment strategy
 Portfolio management.


Assessment

To achieve a ‘pass’ for this unit, learners must provide evidence to demonstrate that they have fulfilled all the learning outcomes and meet the
standards specified by all assessment criteria.

Learning Outcomes to be met Assessment criteria to be covered Type of assessment Word count
All 1 to 6 All ACs under LO 1 to 6 15 minute presentation and
accompanying Report
4500 words


Indicative Reading list

Textbooks

Cheng, L. (2002) Advances in Investment Analysis and Portfolio Management.9th Edition. USA: Thomson One

Fabozzi, F. (2010) The Basics of Finance: An Introduction to Financial Markets, Business Finance, and Portfolio Management. London: Wiley

Graham, M. (2013) Accounting for Non-accountants: A Manual for Managers and Students. 9th Edition. Kogan Page: London

Howells, P. and Bain, K. (2007) Financial Markets and Institutions. 5th ed. Harlow: Pearson Education

Reilly, F. and Brown, K. (2009) Investment Analysis & Portfolio Management. 10th Edition. USA: Thomson One

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

Journals

 Journal of International Financial Markets
 The Hedge Fund Journal
 Journal of Asset Management

Websites

 Management Study Guide: http://www.managementstudyguide.com/portfolio-management.htm
 Reference for business: http://www.referenceforbusiness.com/encyclopedia/Int-Jun/Investment-Analysis.html
 Slide Share: http://www.slideshare.net/aakashkulkarni3/mgbpm-market-efficiency-and-portfolio-theory
 Financial adviser. London: FT Business: www.ftadviser.com
 Investment adviser. London: Financial Times Business: www.ftadviser.com
 Investor’s chronicle. London: Financial Times Business: www.investorschronicle.co.uk
 Investment week. London: Incisive Financial Publishing: www.investmentweek.co.uk
 Money management. London: www.ftadviser.com
 Money marketing. London: Centaur Communications: www.moneymarketing.co.uk

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

Corporate Reporting

Learning Outcomes, Assessment criteria and Indicative contents

Learning Outcome –
The learner will:
Assessment criterion –
The learner can:
Indicative contents

1. Understand the accounting and
finance regulatory framework.
1.1 Explain the main sources for regulatory
framework.
1.2 Evaluate the impact of the accounting and
finance regulatory framework on business
organisations.
1.3 Assess areas of abuse and exploitation in
accounting and financial reporting.
 History of accounting and financial information
 Document development
 Early auditing systems and their development
over time/
 Useful information provided to business
organisations, to include:
 Growth / expansion strategies
 Performance management
 Budget creation

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 Business decisions
 Investment decisions.
 The regulatory framework and financial
reporting
 Reporting Standards
 Frameworks – Principle vs Rule Based Systems
 The importance and the impact of the regulatory
framework on business organisations
 International Financial Reporting Standards –
accounting standards developed by the
International Accounting Standards Board
(IASB).
2. Understanding accounting
concepts, principles and
theories.
2.1 Explain key accounting concepts, principles
and theories.
2.2 Analyse the importance of accounting
concepts, principles and theories.
Concepts, principles and theories – rules and
guidelines of the financial accounting profession.
Concepts, principles and theories to include:
o Accruals concept
o Prudence
o Materiality
o Consistency
o Going concern
o Business entity concept
o Money measurement
o Duality
o Stability
o Objectivity
3. Be able to prepare and interpret
accounting information.
3.1 Prepare accounting information.
3.2 Interpret published accounting information.
3.3 Assess published accounting information.
Definitions:
Cash flow statements show how the changes in the
balance sheet and income have an effect on cash
and cash equivalents. They consider operating,
investing and financing activities.
Accounting for non-current assets, including:
o Intangibles
o Government grants
o Research and development
Accounting for taxation including deferred taxation

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Accounting for long term contracts
Group accounting - acquisition basis, including:
o Goodwill
o Non-controlling interest
o Inter-company transactions
o Statements of comprehensive income
o Statements of financial position
Issue and redemption of shares and debt
Accounting for company failure – liquidations
Interpretation and critical evaluation of accounting
and financial information.
4. Be able to review specific
policies, practices and
regulations within corporate
accounting.
4.1 Explain specific policies, practices and
regulations within corporate accounting.
4.2 Assess accounting regulations for a named
business sector.
4.3 Critically assess the key accounting practices
and policies identified for a named business
sector.
 Accounting rules and regulations
 UK accounting standards
 Generally accepted accounting principles
 Corporate accounting, including:
 Preparation of companies’ final accounts and
cash flow statements
 Analysis and interpretation of financial results
 Key events such as amalgamation
 Accounting practices
 Accounting policies.


Assessment

To achieve a ‘pass’ for this unit, learners must provide evidence to demonstrate that they have fulfilled all the learning outcomes and meet the
standards specified by all assessment criteria.

Learning Outcomes to be met Assessment criteria to be covered Type of assessment Word count
All 1 to 4 All ACs under LO 1 to 4 Business Report 4500 words

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

Indicative Reading list

Textbooks

Andrew, H. (2003) Corporate Financial Reporting Theory & Practice. London: Sage Publication

Bungerberd, M., Griebel, J., Hobe, S. and Reinish, A. (2015) International Investment law: A Handbook. Oxford: Hart Publishing.

Elton, E., Gruber, M., Brown, S. and Goetzmann, W. (2011) Modern Portfolio Theory and Investment Analysis: International Student Version.
8th Edition. New York: John Wiley.

Fabozzi, F. (2010) The Basics of Finance: An Introduction to Financial Markets, Business Finance, and Portfolio Management. London: Wiley.

Fernando, A.C. (2009) Corporate Governance: Principles, Policies and Practice. Beijing: Prenctice Hall.

Howells, P. and Bain, K. (2007) Financial Markets and Institutions. 5th Edition Harlow: Pearson Education.

Justin, J. and Taylor, J. (2013) Corporate Governance, Ethics and CSR. London: Kogan Page

Journals

 Journal of Financial Reporting and Accounting
 Journal of Critical Perspectives On Accounting

Websites

 Management Study Guide: http://www.managementstudyguide.com/portfolio-management.htm
 Financial Adviser. London: FT Business: www.ftadviser.com
 Investment Adviser. London: Financial Times Business: www.ftadviser.com
 Investor’s Chronicle. London: Financial Times Business: www.investorschronicle.co.uk
 Investment week. London: Incisive Financial Publishing: www.investmentweek.co.uk
 Money Management. London: www.ftadviser.com
 Forbes: http://www.forbes.com
 ACCA: http://www.accaglobal.com/lk/en/student/exam-support-resources/fundamentals-exams-study-resources/f7/technical-
articles/conceptual-framework-need.html

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

Global Finance and Strategy

Learning Outcomes, Assessment criteria and Indicative contents

Learning Outcome –
The learner will:
Assessment criterion –
The learner can:
Indicative contents

1. Understand the concept of
globalisation.
1.1 Analyse the concept of globalisation.
1.2 Assess the link between the concept of
globalisation and the investment process.
 Definition of globalisation
 Types of globalisation
 Investment processes in globalisation
 Investments which have taken place between
countries as a result of globalisation
2. Understand the impact of the
global business environment on
national and multinational
business organisations.
2.1 Explain factors affecting the global
business environment.
2.2 Assess the impact of identified factors on
national and multinational business
organisations.
 Definition of the Global Business Environment
 Factors exogenous to the home environment of a
business organisation
 Influence of decision making on resource utilisation
 Global Business Environmental Factors:
o Social
o Legal

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o Economic
o Political
o Technological
o Environmental (Green Issues)
 Entry and Exit barriers
 Effect of Globalisation and of the Global Business
Environment on national and multinational business
organisations
 Environmental factors that affect national and
multinational business organisations
3. Be able to construct strategies
that will result in the
enhancement of organisational
value.
3.1 Explain the current value statement of a
named business organisation.
3.2 Explain how a named business
organisation achieved its values.
3.3 Recommend strategies that would
enhance the value of a named business
organisation.
 Business Valuation – definition and purpose
 Strategic implication of mergers
 Post-merger values
 Management theories that enable the understanding
of the current market position
 Strategies to enhance value
4. Be able to evaluate the financial
consequences of strategic
decisions.
4.1 Analyse the strategic decision of a named
business organisation.
4.2 Evaluate the financial consequences of a
strategic decision made by a named
business organisation.
 Strategic decisions are usually long term, complex
decisions developed by a management team. The
decisions made will affect the future direction of the
business organisation.
 Strategic decisions that consist of less complex,
medium term and tactical decisions.
 Financial consequences of making strategic
decisions.
5. Understand appropriate sources
of finance.
5.1 Explain sources of finance available to
business organisations.
5.2 Assess the risk involved in a range of
sources of finance.
5.3 Critically assess the costs involved in
managing global risk.
 Sources of finance – definition
 Internal and external sources of finance, for
example:
o Loans
o Debentures
o Mortgages
o Retained earnings
o Government sources
o Shares

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 Financial risks associated with using different
sources of finance.
6. Be able to assess techniques to
manage global risk.
6.1 Explain risk mitigation techniques.
6.2 Analyse global risks.
6.3 Assess the suitability of techniques used
by a named business organisation to
manage their global risk.
 Use of the Capital Asset Pricing Model
 Cost of Capital
 WACC
 Use of Exchange Rates
 Interest Rates
 Foreign Exchange Rate Risk
 Risk mitigation techniques:
 Risk Avoidance
 Risk Mitigation
 Transfer of Risk
 Risk Acceptance
7. Be able to assess potential
investment decisions and global
strategies.
7.1 Analyse the potential investment decisions
and strategies available to a named
business organisation.
7.2 Assess the global environment decisions
and strategies affecting a named business
organisation.
 Investment appraisal
 Impact of investment appraisal on global financing
 Financial strategies used in the global environment
 Capital investment relating to funds invested in a
business organisation for the purpose of furthering
its strategic objectives
 Aspects of strategy (often international), which
include:
 Scope of operations
 Resource allocation
 Competitive advantage
 Synergy

Assessment

To achieve a ‘pass’ for this unit, learners must provide evidence to demonstrate that they have fulfilled all the learning outcomes and meet the
standards specified by all assessment criteria.

Learning Outcomes to be met Assessment criteria to be covered Type of assessment Word count
All 1 to 7 All ACs under LO 1 to 7 Business Report 4500 words

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

Indicative Reading list

Textbooks

Bungerberd, M., Griebel, J., Hobe, S. and Reinish, A. (2015) International Investment Law: A Handbook. Oxford: Hart Publishing.

Cheng, L. (2002) Advances in Investment Analysis and Portfolio Management. 9th Edition. USA: Thomson One

Elton, E., Gruber, M., Brown, S. and Goetzmann, W. (2011) Modern Portfolio Theory and Investment Analysis: International Student Version.
8th ed. New York: John Wiley.

Fabozzi, F. (2010) The Basics of Finance: An Introduction to Financial Markets, Business Finance, And Portfolio Management. London: Wiley

Graham, M. (2013) Accounting for Non-accountants: A Manual for Managers and Students. 9
th
Edition. Kogan Page: London

Howells, P. and Bain, K. (2007) Financial Markets and Institutions. 5th Edition. Harlow: Pearson Education

Reilly, F. and Brown, K. (2009) Investment Analysis & Portfolio Management. 10th Edition. USA: Thomson One

Woods, M., Kajuter, P. and Linsley, P. (2008) International Risk Management. Systems, Internal Control,& Corporate Governance. Oxford:
CIMA Publishing.

Journals

 Journal of International Financial Markets
 The Hedge Fund Journal
 Journal of Asset Management
 Journal of Business Strategy
 Journal of Financial and Quantitative Analysis

Websites

 Management Study Guide: http://www.managementstudyguide.com/portfolio-management.htm
 Reference for Business: http://www.referenceforbusiness.com/encyclopedia/Int-Jun/Investment-Analysis.html
 Slide Share: http://www.slideshare.net/aakashkulkarni3/mgbpm-market-efficiency-and-portfolio-theory

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

 Financial Adviser. London: FT Business: www.ftadviser.com
 Investment Adviser. London: Financial Times Business: www.ftadviser.com
 Investor’s chronicle. London: Financial Times Business: www.investorschronicle.co.uk
 Investment Week. London: Incisive Financial Publishing: www.investmentweek.co.uk
 Money Management. London: www.ftadviser.com
 Money Marketing. London: Centaur Communications: www.moneymarketing.co.uk
 Forbes: http://www.forbes.com
 Financial Managers Society: http://www.fmsinc.org/
 Accounting Coach: http://www.accountingcoach.com/
 IDEAS: https://ideas.repec.org/a/scm/ausvfe/v10y2010ispecialp180-188.html

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

Strategic Financial Management

Learning Outcomes, Assessment criteria and Indicative contents

Learning Outcome –
The learner will:
Assessment criterion –
The learner can:
Indicative contents

1. Understand the significance of
strategic management and decision
making to the performance of a
business organisation.
1.1 Apply relevant academic theories to
demonstrate an understanding of
various internal and external
organisational factors.
1.2 Evaluate business resources used to
meet organisational objectives.
 Strategic analysis of the external environment,
internal strategic capability and stakeholder
expectations including:
o PESTEL
o Five Forces Framework
o RBV
o Core Competences
o Value Chain
2. Understand key financial theories. 2.1 Evaluate key financial theories.
2.2 Assess strategic implementation
techniques using balanced scorecard
 Finance theories and their application to financial
decision making.
 Strategic implementation techniques

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SPECIFICATION | MAY 2020

and portfolio management tools.  Portfolio management tools.
 Models of Strategic Management
 Objective setting
 Definition of the balanced scorecard – a strategic
planning and management system that is used
extensivly in business to align business activities
to the vision and strategy of the organisation, to
improve internal and external communications
and to monitor organisation performance against
strategic goals.
 Portfolio theory and risk
3. Be able to apply stakeholder
analysis and corporate valuation
techniques.
3.1 Analyse the significance of stakeholder
analysis.
3.2 Analyse business expansion methods
and their impact on stakeholders.
3.3 Apply stakeholder analysis to a named
business organisation.
3.4 Prepare return and risk computations.
3.5 Explain the concepts of corporate and
business valuation techniques.
 Organisational culture, including
o Shared beliefs
o Norms and Values
o Roles of culture
 Change management process
 Managing strategic change.
 Concept of value, including:
o EVA
o MVA
o SVA
 Dividend policy, including:
o relevance and irrelevance
o signalling
o clientele effects
 Corporate valuations, including:
o asset values
o stock market
o cashflow
o dividend valuation
4. Understand the role of culture in
strategic decision making.
4.1 Explain the role of culture in creating a
strategy.
4.2 Analyse the role of change
management.
 Stakeholder analysis – key project management
skill for classifying people who have influence
over the business
 Shareholder and stakeholder perspectives

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4.3 Analyse the role and effect of culture
on change management.
 Impacts and management of stakeholder analysis
 Mergers and Acquistions, including:
o Motivations
o Wealth effects
o Regulation
 The impact on shareholders and stakeholders
due to the mergers and acquisition
5. Understand performance
measurement systems.
5.1 Evaluate performance measurement
systems.
5.2 Explain financial analysis techniques.
5.3 Apply financial analysis systems and
techniques to practical business
problems.
 Investment appraisal techniques, including:
o Payback
o Discounted Payback
o Accounting Rate of Return
o Net Present Value
o Internal Rate of Return
o Risk Appraisal
o Project Risk.
 Sources of long term finance, including
o Shares
o Borrowing
o Leases
o Collateral / Security
o Hire Purchase
o Grants.
 Ratio Analysis, including:
o Liquidity ratios
o Profitability ratios
o Investor ratios
o Efficiency ratios
o Performance ratios

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020


Assessment

To achieve a ‘pass’ for this unit, learners must provide evidence to demonstrate that they have fulfilled all the learning outcomes and meet the
standards specified by all assessment criteria.

Learning Outcomes to be met Assessment criteria to be covered Type of assessment Word count
All 1 to 5 All ACs under LO 1 to 5 Business Report 4500 words


Indicative Reading list

Textbooks

Cheng, L. (2002) Advances in Investment Analysis and Portfolio Management. 9
th
Edition. USA: Thomson One

Graham, M. (2013) Accounting for Non-accountants: A Manual for Managers and Students. 9
th
Edition. Kogan Page: London

Hill, C. and Jones, G. (2012) Strategic Management: An Integrated Approach. 10
th
Edition. USA: South-Western.

Reilly, F. and Brown, K. (2009) Investment Analysis & Portfolio Management. 10th Edition. USA: Thomson One

Woods, M., Kajuter, P. and Linsley, P. (2008) International Risk Management. Systems, Internal Control,& Corporate Governance. Oxford:
CIMA Publishing.

Journals

 Journal of Risk and Financial Management
 Strategic Management Journal

Websites

 Financial Adviser. London: FT Business: www.ftadviser.com
 Investment Adviser. London: Financial Times Business: www.ftadviser.com
 Investor’s chronicle. London: Financial Times Business: www.investorschronicle.co.uk

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

 Investment Week. London: Incisive Financial Publishing: www.investmentweek.co.uk
 Money Management. London: www.ftadviser.com
 Money Marketing. London: Centaur Communications: www.moneymarketing.co.uk
 Forbes: http://www.forbes.com
 Financial Managers Society: http://www.fmsinc.org/
 Finance: http://finance.mapsofworld.com/strategic-management/model.html
 ACCA: http://www.accaglobal.com/lk/en/student/exam-support-resources/professional-exams-study-resources/p4/technical-
articles/economic-value-added.html

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020

Strategic Audit

Learning Outcomes, Assessment Criteria and Indicative contents

Learning Outcome –
The learner will:
Assessment Criterion –
The learner can:
Indicative contents
1. Understand historic and current
auditing processes and
procedures.
1.1 Assess the historic and current auditing
regulatory environment.
1.2 Explain the rules of professional conduct
for auditors.
1.3 Critically assess the rules of professional
conduct for auditors.
 The regulatory environment, including:
o Laws
 Rules and regulations which are put in place by
the state, or other government entities,to control
the behaviour and actions of business activities
 Professional conduct – the field of regulation of
members of professional bodies acting under
statutory or contractual powers.
 Rules of professional conduct to ensure proper
standards of professional conduct are observed.

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SPECIFICATION | MAY 2020

Rules to include:
o Integrity
o Objectivity
o Confidentiality
o Competency
2. Understand the importance of
legal and professional
requirements when completing an
audit.
2.1 Explain the legal and professional
requirements when completing an audit.
2.2 Evaluate the importance of the legal and
professional requirements on the
performance of an audit.
 The standards and responsibilities for internal
auditors and internal audit activity.
 Impact of the global financial crisis – increase in
legal and professional requirements when
performing audit processes.
3. Understand audit strategy. 3.1 Analyse audit strategy used in business
organisations.
3.2 Assess the effectiveness of the audit
monitoring process.
The auditing process may include:
o Requesting documents
o Preparing an audit plan
o Holding an open meeting
o Drafting a report
o End meeting – to discuss the report.
o Audit Strategy
o Audit Plan
4. Understand the risk involved in the
audit process.
4.1 Discuss the risk involved in the audit
process.
4.2 Analyse appropriate measures to
minimise identified risk.
4.3 Explain the link between account
preparation and the audit completed.
 Definition of audit risk
 Types of audit risk:
o Inherent risk
o Control risk
o Detection risk
 The audit risk model – used by auditors to
manage the overall risk
 Link between account preparation and the audit
conducted
 Definition of a financial audit
 Auditor reports.
5. Understand current developments
in auditing.
5.1 Assess current developments in
auditing.
5.2 Assess the importance of the current
developments in audit processes.
 Current and future audit services
 Internationalisation of accounting and auditing
standards – for example, IAS
 Role of information technology in the audit
process.

OTHM LEVEL 7 DIPLOMA IN ACCOUNTING AND FINANCE | SPECIFICATION



SPECIFICATION | MAY 2020


Assessment

To achieve a ‘pass’ for this unit, learners must provide evidence to demonstrate that they have fulfilled all the learning outcomes and meet the
standards specified by all assessment criteria.

Learning Outcomes to be met Assessment criteria to be covered Type of assessment Word count
All 1 to 5 All ACs under LO 1 to 5 Business Report 4500 words


Indicative Reading list

Textbooks

Fabozzi, F. (2010) The Basics of Finance: An Introduction to Financial Markets, Business Finance, and Portfolio Management. London: Wiley

Giove, F. (2015) Auditing Essentials. New Jersey: Research & Education Association

Graham, M. (2013) Accounting for Non-accountants: A Manual for Managers and Students. 9
th
Edition. Kogan Page: London

Millichamp, A. (2002) Auditing. 8th Edition. London: Thomson.

Woods, M., Kajuter, P. and Linsley, P. (2008) International Risk Management. Systems, Internal Control,& Corporate Governance. Oxford:
CIMA Publishing.

Journals

 Journal of Auditing
 Journal of Accounting, Auditing & Finance
 Managerial Auditing Journal

Websites

 Money Management. London: www.ftadviser.com
 Money Marketing. London: Centaur Communications: www.moneymarketing.co.uk

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 Forbes: http://www.forbes.com
 Financial Managers Society: http://www.fmsinc.org/
 Accounting Coach: http://www.accountingcoach.com/
 Slide Share: http://www.slideshare.net/vishwacrv/auditing-notes-27123132
 Forbes: http://www.forbes.com
 What are auditing and accounting: http://smallbusiness.chron.com/auditing-accounting-11772.html

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Business Research Methods

Learning Outcomes, Assessment Criteria and Indicative contents

Learning Outcome –
The learner will:
Assessment Criterion –
The learner can:
Indicative contents
1. Be able to identify research
problems and formulate
research objectives.

1.1 Appraise research problems.
1.2 Develop appropriate research objectives and
justify their choice.
 Understanding the research context; research
problem identification for investigation; research
topic identification; the conceptualisation of a
research problem; developing insights; and
feasibility and possibilities.
2. Understand how to review
the literature on a research
topic.

2.1 Evaluate literature relevant to a research
problem.
2.2 Critically analyse different theoretical
approaches to a research problem.

 Definition, features and ways to do literature
review; the generic selection of literature; spotting
the sources of literature; justification of an
appropriate selection of literature; : the selection of
appropriate theories for the research;
conceptualisation of the research phenomenon;

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including relevant theories and the justification of
choices; the strength and credentials of relevant
theoretical framework; the understanding and
interpretation; and developing the theoretical
framework.
3. Be able to design
appropriate business
research methodologies.
3.1 Critically evaluate appropriate research
methodologies in terms of research objectives.
3.2 Design an appropriate methodology in terms of
research objectives.
3.3 Justify a selected methodology in terms of
research objectives.
 Designing a research using the most appropriate
method; research question or hypothesis test;
reliability and validity test; ethical issues
consideration; quantitative methodology;
questionnaire design and distribution; conducting
interviews; surveys; qualitative methodology;
interviews; observation; and case studies.
4. Be able to develop a
research proposal.
4.1 Propose techniques for use with quantitative
and qualitative data.
4.2 Create a research question, literature review
and methodology.
 Writing a research report for professional
audiences; following a criteria sequence as
rationale of the research, formatting, editing,
critical analysis, discussions of evidences and
findings.

Assessment

To achieve a ‘pass’ for this unit, learners must provide evidence to demonstrate that they have fulfilled all the learning outcomes and meet the
standards specified by all assessment criteria.

Learning Outcomes to be met Assessment criteria to be covered Type of assessment Word count
(approx. length of coursework)
All 1 to 4 All ACs under LO 1 to 4 Research Proposal 2500 words

Indicative reading list

Bryman, Alan and Emma Bell (2015). Business Research Methods (4
th
ed.). Oxford: Oxford University Press

Chilsa, B. (2012) Indigenous Research Methodologies. London: Sage

Denzin, N.K., Lincoln Y.S., and Tuhiwai Smith, L. (2008, Eds.) Handbook of Critical and Indigenous Methodologies London: Sage

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Hantrais, Linda (2009). International Comparative Research: Theory, Methods and Practice. Basingstoke and New York: Palgrave

Piekkari, R. and Welch, C. (2011, Eds.): Rethinking the Case Study in International Business and Management Research, Cheltenham, UK:
Edward Elgar

Marschan-Piekkari, R. and Welch, C. (2004, Eds.): Handbook of Qualitative Research Methods for International Business, Cheltenham, UK and
Northampton, MA: Edward Elgar

Neuman, W.L. (2011) Social research methods: qualitative and quantitative approaches. Boston and London: Pearson Education.

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IMPORTANT NOTE

Whilst we make every effort to keep the information contained in programme specification up
to date, some changes to procedures, regulations, fees matter, timetables, etc may occur
during the course of your studies. You should, therefore, recognise that this booklet serves
only as a useful guide to your learning experience. For updated information please visit our
website www.othm.org.uk.