Course overview

This Masters programme has been developed as a collaboration between Henley’s Business Informatics Systems and Accounting (BISA) area and the International Capital Market Association (ICMA) Centre. It is best suited for students who are accounting graduates.


COVID-19 update

Find out about how we'll be delivering our courses in 2020.

What it gives you

This programme is suited to anyone wishing to deepen their knowledge of accounting and finance, and who wants to enter a career in financial markets or advisory/financial services; either as an analyst, as a professional accountant, or as a preparation for further research at PhD level. The programme curriculum will provide a blend of theoretical-, research- and practice-led content. This will enable students to develop deeper conceptual and theoretically informed perspectives of accounting and financial practices with acknowledgment of the role of information systems in those processes.

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How we teach you

A holistic approach

Effective leadership requires more than first-class business acumen. It also requires a degree of self-awareness and sensitivity. Henley is renowned for its well-researched, professional approach to this aspect of business education and all our postgraduate courses examine this aspect of leadership. This creates emotionally intelligent graduates who can be fully effective in their chosen careers.

How you will learn

Henley enjoys a strong reputation for the practical application of business ideas and concepts. We are underpinned by academic excellence and the strength of our research. We offer high-quality technical skills training as well as a deep understanding of the importance of personal development for leaders. This is a thread that is woven through all of our Masters programmes.

Our Masters programmes feature a mix of core and optional modules, tailoring your degree towards your needs and career ambitions. You will complete up to 10 taught modules during your programme, totalling 180 credits. One module usually equates to 20 credits or 10 hours of work per week. Your week will include lectures, tutorials, workshops and personal study, with each accounting for 25% of your time on average. This provides you with the opportunity to discuss and explore the material in depth with your lecturers and fellow students.

You will be introduced to the latest thinking and research findings then have the opportunity to challenge those that have created it. You will also explore real-world issues, tackle current business challenges, and interact with guest lectures and speakers from industry. This gives you the opportunity to test, extend and refine your knowledge and skills with confidence.

How we assess you

You will learn and be assessed through a wide variety of teaching methods which vary depending on your chosen Masters programme. These include online materials and multimedia content, guest lectures, individual and group assignments, case studies, field visits, dealing room simulations, presentations, applied projects, consultancy work and examinations.

On average examinations form between 50 - 70% of the assessed work. The remaining comes from coursework, including a written dissertation or project depending on your chosen programme. The exam period falls between April and June in the summer term.

Ongoing support

While postgraduate students are self-motivated and determined individuals, study at this level can present additional pressures which we take seriously. Lecturers are available to discuss the content of each module and your academic tutor can meet with you regularly to discuss any additional issues. Full-time support staff are also available to help with any questions or issues that may arise during your time at Henley.

How to apply

Apply for 2021 entry now

There are two different application processes: apply online and apply by post.

The quickest and easiest way to apply for our Masters courses is through the University of Reading’s online application service.

This allows you to complete your application information, attach electronic copies of your academic transcripts, certificates and other supporting information. It also provides a facility for an email request to be sent to your referees. This enables the referees to send your supporting references directly to us.

Apply online

Apply online now using the University of Reading's online application system.

Apply by post

If you are unable to apply online you can request a paper application form by telephoning +44(0) 118 378 5289. Alternatively, you can apply by writing to the Admissions Office, University of Reading, Miller Building, Whiteknights, Reading, RG6 6AB, UK.

When to apply

We operate a rolling admissions system and it is recommended that you apply early to secure your place. There is no specific deadline and applications will be considered until the programme is full. However, to allow us time to process your application we recommend that you apply by the following dates:

  • UK/EU applicants: by 1 August
  • International applicants: by 1 June

After you apply

You will receive a confirmation email when we receive your application form. Your application is then reviewed by a member of staff. Successful applicants will receive a formal offer letter outlining any necessary entry cri­teria you will need to meet and you will be asked to confirm your acceptance of this offer.

If you require a Certificate of Acceptance for Studies (CAS) for your visa, details will be sent by email once all conditions of the offer have been met.

Throughout the admissions process we will keep you updated with key information via email. We also provide opportunities to interact with faculty and staff online.

Find us on Facebook and keep up-to-date with news and events at Henley or ask us a question. In addition, you can speak to a current student, our students are always happy to share their Henley experience.

Meet Us

If you are unable to attend a postgraduate event please get in touch with our team. We will be happy to speak to you by telephone, Skype or through our Live Chat system (during UK office hours: 9 - 5 pm).

Our contact details are: postgraduate@henley.ac.uk or telephone: +44 (0) 118 378 7593.

Please see our list of world fairs below where you can meet a Henley representative.

UK

  • Virtual Masters Visit Day

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EUROPE

  • Virtual Masters Visit Day

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ASIA

  • QS World Grad School Tour Online – Vietnam & Thailand

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  • QS World Grad School Tour Online – Indonesia

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  • Virtual Masters Visit Day

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  • QS World Grad School Tour Online - Japan

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  • QS World Grad School Tour Online - Philippines

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INDIA & THE MIDDLE EAST

  • Virtual Masters Visit Day

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AFRICA

  • Virtual Masters Visit Day

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AMERICAS

  • Virtual Masters Visit Day

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Faculty & Staff

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Contact Us

For more information please contact us by email at postgraduate@henley.ac.uk or by phone on +44 (0) 118 378 7593.

Important Information

Duration: 12 months full-time

Starts: September 2021

Assessment: Exams, applied project and individual and group assignments

Henley's Reputation:

  • Consistently maintain highest standards and with an excellent networking potential of over 80,000 Henley alumni members in 150 countries
  • High calibre students: always oversubscribed, 1,000 ambitious new Masters students join Henley each year
  • Award winning campus: beautiful, green, 134 hectares, with state of the art facilities
  • World-leading faculty: widely published, frequently asked for expert comment by media and to speak at events

Henley is proud to be part of the University of Reading. The University is ranked within the top 250 universities worldwide*. Additionally, 98% of the research is rated as being of international standard.

*Times Higher Education World University Rankings 2018 and QS World University Rankings 2018.

Course modules

The module descriptions set out on this page are correct for modules being taught in the current academic year. Optional module listings are indicative and may be subject to change

Modules Credits

Compulsory modules:

Securities, Futures and Options provides learners with the relevant financial knowledge for analysing and valuing different classes of risky assets. It begins with the description of all main asset classes and the basic theory behind market efficiency and investors’ attitude towards financial risk. It then analyses the main framework behind portfolio theory and optimum asset allocation, followed by the introduction of the main pricing models, their applications and limitations. Furthermore, the module provides an in-depth introduction to financial derivatives (futures and options) and their valuation. All the techniques introduced are widely applied in other elements of the programme.

20 [10 ECTS credits]

Fixed Income and Equity Investments applies general valuation methods to specific financial instruments: fixed income and equity securities. It describes the basic characteristics of each security and develops practical strategies for finding its value and assessing its risk. It develops general trading strategies for each type of security. It also considers how the markets for these securities are related and begins the task of showing how these relationships can be exploited to form an optimal investment strategy.

20 [10 ECTS credits]

The objective of the module is to give students an introduction to econometrics so that they might understand the analytical techniques used in the finance research literature. Via case studies and computer modelling exercises, students then learn how to apply these techniques to real data. Emphasis is placed on practical applications of the techniques in the global financial markets.

10 [5 ECTS credits]

The module considers accounting as a social and institutional practice and focuses on wider social implication of financial reporting. Financial statements are a key source of information about the economic as well as overall activities of a firm. This course is intended to enhance the student''s ability to relate economic events to financial statements and disclosures. It also seeks to aid in developing a coordinated set of concepts and principles to serve as a framework for analysing a wide variety of financial reporting issues. The course also explores the regulatory environment and political climate, and how these link with the development of existing and introduction of new standards and their underlying theories.

The module covers a number of theoretical perspectives such as deductive approaches, based on the notion of financial accounting as the measurement of economic income and value (including applications to current accounting controversies); economic approaches, regarding corporate financial reporting as an information system, including signalling and disclosure, and studying the demand for and supply of accounting information in a market setting and its stock market impact; and regulatory/institutional approaches, examining the nature of and case for and against the regulation of corporate financial reporting. Illustrations are provided on how these theories are used in standard setting and in valuation.

20 [10 ECTS credits]

Management accounting can be studied as a heterogeneous collection of techniques used to measure and analyse the resources, processes and outputs of organisations. While it is important to understand the techniques, it is equally important to study how those techniques are used. A good understanding of costing techniques is assumed as the module explores beyond these to their application in practice and questions their use(s) and role(s) in organisations from a theoretically informed perspective.Much of the research in management accounting explores the role of the management accountant and the application of management accounting techniques in practice, through a variety of theoretical lenses. The module will draw on published case studies to analyse contemporary management accounting in practice

20 [10 ECTS credits]

This module is designed to support students to acquire knowledge and skills in carrying out research in accounting and financial management. It covers the process of research from the formulation of a research proposal to dissemination of results. It guides students in the preparation and planning of research projects through the knowledge, skills and awareness of elements required in approaching research, including: literature review, research paradigms, methods and techniques, research design, writing a research proposal, project planning and management, ethical issues, and writing research reports.

10 [5 ECTS credits]

This module is an introduction to accounting information systems. It initially covers fundamental concepts in information systems, information management and business-IT alignment in the context of accounting practices. In addition, it will explore how technologies underpin governance, risk and compliance activities within public firms. It builds on both theoretical concepts as well as established industry best practice including COSO’s Internal Control/ERM frameworks and ISACA’s CoBIT. As a practical component of the module, commercial accounting software will be introduced to study their features.

20 [10 ECTS credits]

What am I going to do when my course ends, and how am I going to achieve it? This module has been designed to help Accounting, Informatics and Business Management students answer those two questions, and empower them to take the actions required. It’s a suite of sessions that pays close attention to the general pathways Business Management, Accounting and Informatics students tend to take, and their aspirations as expressed during pre-sessional career activities & induction surveys. Students will choose this the mix of custom-made sessions that best suit their stage in life and supplement them with the open careers programmes offered at the University, the online content on the Henley Careers Blackboard site and 1-2-1 careers consultations.

0 [0 ECTS credits]
Either / Or Credits

This module covers the development of corporate governance codes of practice in the UK and around the world. Students undertaking this course will gain a critical and holistic view of corporate governance, which will include an examination of some of the key contextual factors: boards of directors, institutional investors, transparency, sustainability reporting, ethical issues and responsible investment.

  • Theoretical frameworks for corporate governance, accountability and ethics
  • The consequences of corporate governance weaknesses and failure
  • The UK corporate governance framework: codes of practice and governance reviews
  • Internal mechanisms: board effectiveness, the role of non-executive directors, remuneration structures
  • External mechanisms, especially the role of institutional investors
  • International corporate governance: comparative analysis
  • Corporate governance and stakeholder accountability: holistic governance
  • Responsible investment
20 [10 ECTS credits]

The Project enables students to undertake independent research on a specified topic relating to international accounting and/or financial management. With the guidance and support of a supervisor, students manage their own project, taking an aspect of theory and applying it to real companies. Previous projects, for example, have involved analysing published accounts of listed companies to investigate financial performance, dividend policy and the management of capital structure.

  • Define objectives of research
  • Research subject company
  • Synthesise relevant literature
  • Identify relevant data
  • Analyse data
  • Evaluate findings
20 [10 ECTS credits]

Optional modules:

Students choosing MMM049 must choose two spring term optional modules to the value of 40 credits.

Students choosing ACM001 must choose one spring term module to the value of 20 credits.

Spring term modules:

This portfolio management module covers key topics, techniques and discussions, including investment styles, in relation to constructing and maintaining an optimal investment portfolio. The teaching approaches all topics from academic and market, practical perspectives. More detailed aims and learning outcomes are included below.

20 [10 ECTS credits]

This module provides an overview of the purpose and operation of financial regulation, and the consequences of financial sector reform for different markets and jurisdictions, including that of the students’ home countries.

20 [10 ECTS credits]

This is a very practical course focusing mainly on option/volatility trading and risk management. The seminars all take place in the dealing room, and students will manage the risk of equity options portfolios on ICTrader. There are also 4 practical Excel based case studies (Option Strategist) which focus on option value and risk analysis.

20 [10 ECTS credits]

20 [10 ECTS credits]

The main aim of the module is to provide a rigorous grounding of the theory and practice of corporate finance and more specifically the long-term financial management decisions of the firm pertaining to investments, financing and payout and how they affect its value. It deals with how corporations are governed, their financing structures, payout policies, the processes involved in the issuance of public and private equity, as well growing through inorganic investment (mergers and acquisitions). The module also extensively dealsParticipants also gain exposure to with advanced financial analysis and enterprise valuation methods employed by financial advisors/investment banks as part of advising corporations. Students on this moduleThey also take part in a bespoke investment banking pitch-book simulation challenge whereby they have to work with as part oftheir a team and to produce a real life pitch-book including financial analysis on a real transaction as part ofand assessing the company’s strategic alternatives.

20 [10 ECTS credits]

Summer term modules

Students choosing ACM001 must choose one summer term module to the value of 20 credits.

  • Overview of asset pricing topics, risk aversion and premium
  • Stochastic discount factor (SDF)
  • Mean-variance and beta pricing
  • CAPM and APT
  • Contingent claims/Arrow-Debreu securities
  • Empirical asset pricing methodologies
20 [10 ECTS credits]

This less quantitative module is an in-depth study of an important financial product - stock index futures. It covers how they are traded, why they are traded, how they are priced, how to arbitrage between index futures and equity markets, and how to design new stock index futures.

20 [10 ECTS credits]
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Fees & funding

UK/HomeOverseas
2021 Entry£17,300£24,900

UK/Home Postgraduate Loans

Loans of up to £11,222 are available to eligible students studying for postgraduate Masters courses from the 2021-2022 Academic year. In general, students need to be domiciled in England.

You can apply for a loan through the UK Government website. You can read more about the scheme on the Student Loans Company website or on these two UK Government sites: Introduction of loans for postgraduate students and Government response to the Consultation on Support for Postgraduate Study.

Entry requirements

A good first or second class UK honours degree, or overseas equivalent, will usually be required; not necessarily in a related discipline.

Academic requirements

Entry Requirement Criteria
Undergraduate degree Minimum 2:1 or the equivalent from an Internationally recognised university
Degree discipline Any discipline

See  country and region-specific information and entry requirements for International applicants  or please contact us with any questions.

English Language Requirements

Studying in a second language can be challenging. If your English language ability is below the minimum requirement, we may ask for evidence of proficiency. Alternatively, we may ask you to attend an English language course before you begin your studies with us.

  • We require an International English Language Test Scores (IELTS) score of 6.5 overall with no less than 6.0 in any sub-skills.
  • We now accept Duolingo scores for 2021 entry. Students are required to have a score of 120 with no subscore less than 95 (with recommendation to take 2 week pre-enrolment support course). With a Pre-sessional English Course we offer: 115 plus 6 week Course, or 110 plus 9 week Course.

Our  International Study and Language Institute  (ISLI) offers a comprehensive range of  Pre-sessional English (PSE) courses.  We encourage all students who have not lived or studied in an English-speaking country before to register for one. Students completing pre-sessional courses would be allowed entry onto their chosen programme after achieving an overall score of 6.5 with scores of no less than 5.5 in each of the four sub-skills.

Equivalent English Language Qualifications will also be accepted. If you require specific advice on your qualification please contact our admissions office directly by e-mail or telephone on +44 118-378-5289.

UK visa requirements

  • If you are not a national of the UK, you may need to obtain a UK visa. This visa will allow you to live and study in the UK. See the  UK Border Agency website. Contact the University's International Office with any questions:  intoff@reading.ac.uk.

New Graduate Route

From the summer of 2021, the UK's new Graduate Route post-study work visa allows you to apply to stay in the UK for up to two years after you graduate, with the opportunity to undertake skilled work. Visit the University website for the latest information.

Careers

How can Henley Careers work with you?

Here at Henley we have an award-winning careers team here to support you through your time here and four years after graduating from us.

Here is how Henley Careers can help you:

  • Careers Consultant appointments - Our Careers Consultant are here to help and support you with any careers related concern that you might have. Whether it’s advice on your CV, practicing for an interview, looking at possible reasons why applications aren't being successful or support planning your career goals, we’re here to help empower you to progress in your career.
  • Events - Henley Careers organise numerous events aimed to help you build your confidence, develop the skills employers are looking for, network with employers and expand your industry knowledge.
  • Alumni support - You can continue to book one-to-one appointments with your Careers Consultant and use our online resources for up to four years after you graduate to get help and support in your career.
  • Career Smart - Get a head start in securing a graduate job by taking part in our online course, Career Smart. You can expect to learning about the graduate recruitment cycle in the UK, where to look and how to start applying to jobs, and the different types of roles available to you.

For more information please see our Careers page.

Continuing your career

Students will enhance their employability in their related first-degree disciplines or in any general business management roles. The programme will also enhance career opportunities in more specialised accounting and finance fields. As the programme offers an international perspective, career prospects are likely to be international. In addition, the programme will serve as a good basis for further academic development in accounting- and finance-related disciplines.

Accreditation Information

This programme is granted exemptions from four Chartered Institute of Management Accountants (CIMA) professional exams: BA1 - BA4.

Speak to a student

Our students and alumni are always keen to share their Henley experience, whether you are a prospective applicant or you've already applied for a place on a Masters programme at Henley Business School. For a unique insight into every aspect of life in the School and on campus, you can contact any of our students and alumni below, via email, Skype or social media.

When contacting one of our students for the first time, please introduce yourself and the Masters programme you have applied for before you outline any questions you might have.

Chat to our students now