MSc Accounting,Organisations and

Institutions

Departmentof Accounting

The MSc Accounting, Organisations andInstitutions programme is built explicitly onthe research expertise for which theDepartment of Accounting has an unrivalledinternational reputation.

Accounting is now an influential technologyin almost all institutional settings; a pervasiveinstrument of institutional governance andregulation in all types of organisations –financial and nonfinancial; across all sectors –private and public. Indeed accounting isimplicated in decision-making, performancemanagement, financial management,organisational control, risk management,institutional evaluation and assessment, andregulatory oversight. Accounting extends itsreach into government agencies, regulatorybodies and management consultancies, aswell as into an increasing number ofassurance agencies operating in transnationalfields much broader than those traditionallyassociated with financial auditing and thepreparation of accounts. This excitingmaster’s programme will seek to addressthe many faces of accounting andaccountants, and their role in shapingorganisations and institutions.

This MSc programme is designed for well-trained students from a wide range ofdisciplines who wish to understand moreabout the multiple roles of accounting.The programme does not require abackground in accounting, and studentswith an initial training in thehumanities or the social or naturalsciences are encouraged to apply.

The programme complements, butis different from our existing MSc Accountingand Finance, which requires prior knowledgeof both accounting and finance. Accordingly,we envisage that this programme will beparticularly attractive to those interestedgenerally in careers in management,consulting, regulation, assurance and thepublic sector. A high level of academicperformance is expected from students anda significant amount of independent studyand preparation is required to get the mostout of the programme. We also intend thatthe programme will attract studentsinterested in pursuing further research at thedoctoral level.

The programmeProgramme timetable

Paper Michaelmas Term Lent Term Summer Term

1 Accounting, Organisations and Institutions (F)

2 For students with limited background in either financial or managementaccounting, or both:

Financial Accounting, Reporting and Disclosure (H)Management Accounting, Decisions and Control (H)

For students with a substantive background in either financialor management accounting, or both:

Financial Reporting in Capital Markets (F)Accounting, Strategy and Control (H)Financial Reporting, Capital Markets and Business Combinations (H)

3 and 4 Further advanced accounting courses listed but not taken under Paper 2

The Development and Integration of the World Economy inthe 19th and 20th Centuries (F)

Corporate Governance (F)

Regulation of Financial Markets (F)

Regulation, Risk and Economic Life (F)

Economic Sociology (F)

Accounting in the GlobalEconomy (H)

Valuation and Security Analysis (H)

Environmental Problems andDevelopment Interventions(H)

Institutions and the GlobalEnvironment (H)

The Historical Context ofBusiness (H)

International Economic InstitutionsSince World War I (H)

Corporate Social Responsibility andInternational Labour Standards (H)

Law of International Economic andFinancial Sanctions (H)

Risk and Governance: ASociological Approach (H)

Further Seminars

Revision Sessions

Long Essay Deadline

ExaminationPreparation

Examinations

(F) = full-unit course; (H) = half-unit course

The MSc Accounting, Organisationsand Institutions is housed within theDepartment of Accounting. TheDepartment is widely recognisedthroughout Europe for its excellence inaccounting and financial managementresearch and education, and for itsleading role in public policy issues.It is one of the most highly-rateddepartments in the subject area in theUK. The Department of Accounting has26 full-time academic staff, undertakingteaching and research across a broadrange of theoretical, empirical andapplied issues. The interface betweenaccounting and managers,organisations, institutions, public policyand regulatory bodies is a particularstrength of the Department. TheDepartment also benefits from itsaffiliation with the Centre for Analysisof Risk and Regulation.

Located in central London, the LondonSchool of Economics and Political Scienceis a world-class social science institution,attracting some of the best researchersand teachers in their respective fields,and providing a challenging environmentfor highly capable students. The dynamicintellectual environment of LSE facilitatesa constant interchange of ideas betweenthe School and major for-profit and non-profit organisations, leading multinationalinstitutions and key regulatory bodies.LSE also houses the British Library ofPolitical and Economic Science, thelargest social sciences library in the world.

Compulsory coursesPaper 1:Accounting, Organisations andInstitutions: This core course aimsto equip students with an advancedunderstanding of the changing roleand position of accounting practicesin organisations, both financial andnonfinancial, public and private, andin societies more generally. Studentswill be exposed to advanced thinkingabout how various accountingpractices are shaped by, and shape,their organisational and institutionalcontexts; how accounting practiceshave behavioural consequencesand represent values; and the role ofaccountants and other agents in theprocess of accounting. The course willemphasise the inter-relations betweentechnical, organisational andinstitutional issues. While sometechnical accounting knowledge willbe helpful, it is not essential and eachlecture will provide the necessaryfoundations.

Long Essay on Accounting,Organisations and Institutions:To reflect the strong researchorientation of the Programme,students must write a 6,000 wordlong essay which accounts for 50 percent of the mark of Paper 1; theother 50 per cent of the mark ofPaper 1 is based on a two-hourexamination in Summer Term.

Paper 2:Depending on the student’sbackground in accounting, paper 2is either:

Management Accounting, Decisionsand Control (H)+Financial Accounting, Reporting andDisclosure (H)

Or Financial Reporting in CapitalMarkets

Or Accounting, Strategy andControl (H) or Financial Reporting,Capital Markets and BusinessCombinations (H)

Optional coursesPapers 3 and 4:Depending on the course combinationstaken under paper 2, students canselect further accounting courses to thevalue of two full-units under paper 3from the following:

Financial Reporting in Capital Markets

Accounting, Strategy and Control (H)

Financial Reporting, Capital Marketsand Business Combinations (H)

Further course selections can betaken from:

Accounting in the GlobalEconomy (H)

Valuation and Security Analysis (H)

Environmental Problems andDevelopment Interventions (H)

Institutions and the GlobalEnvironment (H)

Corporate Governance

The Historical Context of Business (H)

Regulation of Financial Markets

Regulation, Risk and Economic Life

Economic Sociology

Corporate Social Responsibility andInternational Labour Standards (H)

The Development and Integration ofthe World Economy in the 19th and20th Centuries

Risk and Governance: A SociologicalApproach (H)

International Economic Institutionssince World War I (H)

Law of International Economic andFinancial Sanctions (H)

Any course with the permission of theProgramme Director and outsidedepartment (as applicable)

All courses are full-units unlessindicated with (H) denoting a half-unit.

The courses

DurationThe MSc Accounting, Organisations andInstitutions programme takes place over10 months. Pre-sessional training in theform of intensive courses will be offeredfor those who require additionalpreparation for the programme.

Programme structureStudents must successfully complete theequivalent of four full-unit courses tomeet the requirements of the MScAccounting, Organisations andInstitutions. The compulsory core courseprovides the foundation for developing anunderstanding of a variety of topics,themes and core principles. Students canthen select from a combination ofoptional full and half-unit courses inspecific areas to fit their interests andpreferred specialisation. Options fromoutside the Department are also available.

Teaching styleCourses are taught in lecture and class orseminar format. Lectures introduce thecore theoretical and technical conceptswhilst their associated classes allowstudents to discuss and apply theseconcepts through exercises andin-depth study. Seminars allow for thefocused study of key concepts in a moreinformal style and may involvepresentations by students on selectedcourse materials. Many teachers adopta variety of teaching methods to delivertheir courses such as class exercises, teampresentations, individual or group work,or case study discussions.

AssessmentAll full-unit courses are assessed bythree-hour examinations in SummerTerm. Half-units are assessed by two-hour examinations in Summer Term.Some of the half-unit optional coursesalso have group/individual project workas part of the assessment.

Teaching staffStudents are taught by leading edgeresearchers with expert knowledge ofthe areas in which they teach. Theinternational backgrounds of theseteachers and their varied researchinterests provide students with a uniqueopportunity to learn from, and interactwith, world-class faculty.

Dr Vasiliki Athanasakou,Assistant Professor of AccountingFinancial reporting practices (earningsmanagement, mandatory/voluntarydisclosure); accounting and marketregulation; and implications for thefinancial markets.

Professor Alnoor Bhimani,Professor of Management AccountingManagement accounting in the digitaleconomy, international comparativefinancial management; strategy andcost management; the social analysisof accounting and governance systems.

Dr Stefano Cascino,Lecturer in AccountingAccounting conservatism; corporategovernance; international accounting;debt markets; disclosure regulation incapital markets; family firms.

Dr Yasmine Chahed,Lecturer in AccountingAccounting change in its social andinstitutional context; regulation of non-financial and future-oriented reporting;corporate accountability and disclosure;integrated performance measurementand reporting-systems.

Dr Pascal Frantz,Lecturer in Accounting and FinanceSecurities analysis; the economics ofdisclosures and auditing.

Dr Martin Giraudeau,Lecturer in AccountingAccounts of the future; entrepreneurshipand strategy; economic sociology: marketdevices, emergent market ties, financialinteraction, calculative practices; businesshistory; history of economic thought;anthropology of the future.

Dr Matthew Hall,Associate Professor of AccountingManagement accounting, managementcontrol systems and performancemeasurement; behavioural accountingand professional commitment ofaccountants.

Professor Bjorn Jorgensen,Professor of Accounting andFinancial ManagementRisk measurement; risk disclosure; riskmanagement; equity valuation andcapital markets; earnings management.

Dr Liisa Kurunmäki,Associate Professor of AccountingAccounting in the New Public Sector,with special reference to healthcare.

Professor Richard Macve,Professor of Accounting, EmeritusConceptual framework of financialaccounting and reporting; financialreporting in the insurance industry;the historical development ofaccounting; environmentalaccounting and reporting;interactions between insuranceand environmental management.

Dr Andrea Mennicken,Associate Professor of AccountingInternational accounting and auditing;audit and accounting regulation andharmonisation; accounting, economictransition and social transformation inpost-Soviet Russia; the sociology ofcalculative practices; public sectoraccounting reforms.

Professor Peter Miller,Professor of Management AccountingInvestment appraisal in newmanufacturing environments;accounting and “New PublicManagement”; accounting as a socialand institutional practice.

Dr Julia Morley,Lecturer in AccountingThe influence of financial economics onfinancial reporting practice; economicvaluation methods for pensions;changing performance metrics for socialenterprises; the role of professionals inthe market for social investment.

Dr Tommaso Palermo,Lecturer in AccountingManagement control systems andperformance measurement; linking riskmanagement to performancemanagement, management accountingand public sector management.

Professor Peter Pope,Professor of AccountingIFRS implementation in Europe; globalequity market anomalies; fundamentalvaluation models, with particularreference to the links between financialstatement factors, risk and equityreturns.

Professor Michael Power,Professor of AccountingThe role of internal and externalauditing in the corporate governanceprocess; internal control systems andcorporate risk management andregulation; risk reporting andcommunication.

Dr Rita Samiolo,Lecturer in AccountingSocial and institutional studies ofaccounting; accounting in the publicsector; risk management and regulation.

Dr Ana Simpson,Assistant Professor of AccountingVoluntary disclosure – incentives andconsequences; analysts’ forecastefficiency; earnings management.

Professor Ane Tamayo,Professor of AccountingImpact of accounting information oncapital markets; role of financialintermediaries in capital markets;empirical asset pricing and portfolioallocation; corporategovernance/finance.

Professor Wim A Van der Stede,CIMA Professor of Accountingand Financial Management,Head of Department of AccountingManagement control systems:budgeting, performance measurementand incentive systems; corporategovernance: boards of directors,executive compensation andinternal controls.

The applicationApplicants for the MSc Accounting,Organisations and Institutionsprogramme do not require prioracademic courses in accounting.Minimum entry requirements area good upper second class honoursdegree from a UK University or anequivalent overseas degree. Wewelcome applications from well-qualified candidates who arecurious about the many roles ofaccounting in today’s complexand risky global system.

Applicants for whom English is asecond language, or those who havenot studied to degree level in English,should provide evidence of theircommand of the language. For theMSc Accounting, Organisations andInstitutions programme, this wouldbe a Minimum of 7.0 in IELTS (at least6.0 in speaking and writing, and 6.5in reading and listening). 107 in theinternet-based TOEFL (at least 20 inspeaking, 21 in writing and 22 in

reading and listening). Once anapplication has been submitted,candidates can keep up to date withits progress online by visiting:lse.ac.uk/collections/graduateAdmissions/apply/trackYourApplication.htm

Admissions decisions are made onthe basis of academic merit and thenumber of places available. Earlyapplication strongly recommended.

Given the high competition for placeson this programme, applicants whoindicate an interest in the MScAccounting, Organisations andInstitutions specifically as their firstchoice will maximise their prospect ofadmission to the programme. Equally,candidates should note thedifferentiated nature of the graduateprogrammes in the Department ofAccounting, and are advised toidentify their first choice accordingly.

Funding your studiesThe School has a variety of namedscholarships and other forms ofsupport available, administered bythe Financial Support Office.Applicants can find out more aboutthese from the Financial SupportOffice website:lse.ac.uk/Financialsupportoffice

The application process for master’sprogrammes is managed by theGraduate School at LSE. Allcorrespondence relating to offersand registrations should be directedto the Graduate Admissions Office:

Graduate Admissions OfficePO Box 13420Houghton StreetLondon UK WC2A 2AROnline enquiries:lse.ac.uk/collections/graduateAdmissionstel: +44 (0)20 7955 7160

“The MSc in Accounting, Organisations and Institutions is a unique andinnovative programme which draws on the LSE’s long-standing leadership ininterdisciplinary accounting research and teaching. The courses are taught toa high standard. The programme strongly develops the technical, analyticaland research skills of students. It contains a good balance of qualitative andquantitative dimensions of the relevant subject areas.”

Professor Stephen Walker, External Examiner 2010-2013

The students

The departmentDepartmental facilitiesThe Department of Accounting has aStudent Information Centre to serve asa central point for enquiries and for thedistribution of relevant course materialssuch as lecture notes, handouts andclass exercises.

The Department also provides studyrooms for graduate students whichinclude computer access and networkpoints for laptops. Through the School’sIT Services, students have access to freeIT training for the core softwarepackages they will need duringtheir studies.

Useful links for furtherinformation

Graduate School (lse.ac.uk/programmesandcourses/graduate)For online applications and furtherinformation on studying at LSE.

Careers Office (lse.ac.uk/careers)For further details on graduateemployment opportunities, internshipsand vacation work.

Financial Support Office(lse.ac.uk/financialsupportoffice)For information on scholarships andapplying for financial support.

Department of Accounting(lse.ac.uk/accounting)For further information on theprogrammes, faculty and activities ofthe Department of Accounting.

For further information on thisprogramme, contact:MSc AOI Programme ManagerDepartment of AccountingHoughton StreetLondon WC2A 2AE

Tel: +44 (0)20 7852 3780Email: accounting@lse.ac.uk

Other graduate programmes availablein the Department of Accounting:Diploma in Accounting and FinanceMSc Accounting and FinancePhD in Accounting

Student profilesInternational diversity of both faculty andstudents is a key feature of studying atLSE and in the Department of Accountingwhich offers the MSc Accounting,Organisations and Institutions degree. Inaddition to an international faculty, theMSc Accounting, Organisations andInstitutions programme aims to attractstudents from all around the world.

Profile of registeredstudents 2013-14

Average Age: 24 yrs

Age Range: 21-37 yrs

Registrations to applications: 9.9%

CareersStudents who successfully complete theMSc Accounting, Organisations andInstitutions programme pursue careersacross a wide range of sectors, inmanagement, consulting, regulation,assurance, and the public sector, as wellas those seeking to convert to anaccounting career.

Many leading organisations makecareers presentations at the Schoolduring the year. LSE’s Careers Servicehas a wide range of resources availableto assist students in their job search.Staff at the Careers Service are availableto help students with their research intopotential employers, completingapplication forms, writing a curriculumvitae (CV) and covering letters. The

Careers Service also organises andpublicises on-campus recruitment eventsheld by employers. It has set up a rangeof online resources to provide studentswith access to careers relatedinformation and to link students withpotential employers.

Age Range*Country

of Origin*

36+ years 0.7%

31-35 years 4.8%

26-30 years6.8%

20-25 years87.7%

* Data for registered MSc Accounting, Organisations and Institutions students 2011-12to 2013-14

UK 5.3%

Asia 49.7%

Rest ofEurope 33.1%

NorthAmerica 7.3%

Africa 1.3%Other 3.3%