11
11th for Accounting and Finance in the UK
QS World University Rankings (2022)
15
15th for Accounting and Finance
The Guardian University Guide (2023)
16
16th for Accounting and Finance
The Times and Sunday Times Good University Guide (2023)
BSc Accounting, Finance and Mathematics (Industry) is a flexible, career-focussed degree programme that lets you take control of your studies as your interests change over the course of your time at Lancaster University. Our students leave prepared to take on challenging roles in Big-Four accounting firms, investment banks, consulting and beyond.
Programme overviewYou will learn from leading academic researchers and expert practitioners in finance, investing, accounting and mathematics. The degree provides the perfect blend of theory and practice, taking you to the heart of key questions around the nature of business performance, price/earnings ratios, accountancy and mathematics skills, investment strategies and case-studies.
Throughout your degree, we encourage you to pursue your interests, develop your strengths, and move towards your ideal career. To enable that, this degree programme is highly flexible, letting you specialise your studies based on your strengths and interests.
You will study investor decision-making, reporting and market analysis, acquire the skills to build a strong investment portfolio and calculate financial risk.
We will teach you the foundations of economics, accounting and finance. You will use real-world data to develop your financial reporting skills, and learn key mathematical elements, such as calculus, probability and statistics.
The second year builds on your mathematical knowledge, and introduces you to statistical computer programming. You will study auditing, financial accounting, management accounting and finance.
In your final year, you will develop your understanding of advanced accounting methods, financial reporting standards and statistics, and may choose to study options including investments, taxation and corporate finance.
Our Finance, Accounting and International careers coaches are experts in their fields. They help students gain access to employers and help prepare them for success their future careers.
Key FactsThe degree is accredited by globally-recognised accountancy bodies:
These accreditations provide graduates with exemptions from many core professional examinations, depending on your module choices, and mean, on graduation, you will be further along the route to qualifying as an accountant than many of your contemporaries.
Your third-year industrial placement provides you with a positive, practical experience of working in a graduate role, allowing you to gain priceless business skills. You will have the chance to see how well academic theories work in real-life situations, and gain a real insight into where your talents and interests lie for your future career.
The University will make all reasonable effort to support you in finding a suitable placement for your studies. While a placement role may not be available in a field or organisation directly related to your studies or career aspirations, all roles offer valuable experience of working at graduate level, gaining a range of professional skills.
If you are unsuccessful in securing a suitable placement, you will be able to transfer to the equivalent non-placement degree scheme and would continue with your studies at Lancaster, finishing your degree after your third year. The University advertises a range of shorter placement and internship opportunities for which you would be welcome to apply.
Our careers team will provide you with expert support and guidance in securing a third-year industry placement. Past students have worked with companies such as Deloitte, Lloyds Bank, PwC and Samsung in roles ranging from finance, auditing and accounting to operations, consulting and risk.
Programme outcomesAt the end of your time with us, you will be equipped to work in the fields of finance and accounting, and be ready to progress your studies with further, required professional examinations. Our graduates have gone on to work for big-four accounting firms, international consulting firms, blue-chip corporations, and global banks and hedge funds. Read more about Lancaster graduate destinations below.
Find out what it's like to study Accounting, Finance and Mathematics at Lancaster University Management School.
Accounting, Finance and Mathematics
Accounting, Finance and Mathematics is a flexible, academically rigorous programme of study that prepares you from day one for a fulfilling, challenging career. There is a lot to take in and we would love you to get in touch to find out more, but if you take away anything from your visit today let it be these three things:
1. We are Career-focused. Students come into these programmes for their career outcomes. We know this and have built our programmes accordingly.
2. We are Transformative. The programme prepares students for their careers in two key ways:
3. We are Flexible. We know that students may want to focus on subject areas they didn’t even know existed when they came into the Management School. Our programme is flexible enough to allow for this.
Please contact our Admissions Tutor Dr Catherine Salzedo with any questions.
Lancaster is ranked #11 in the UK and #64 in the world for Accounting and Finance according to the QS World Rankings by Subject 2022, one of nine subjects at Lancaster to be featured in the top 100 in these prestigious listings.
QS Rankings 2022The skills you develop in your subject areas will open up exciting careers in accountancy, management and finance-related fields of work. You may choose to follow in the footsteps of many previous Lancaster graduates who have gone straight into professional accountancy with a training contract at a professional firm. Alternatively, you may prefer to use the transferable skills you gain - such as analytical ability, logical thinking and project management - to successfully enter a career in fields including banking, general and financial management and consulting.
Lancaster University is dedicated to ensuring you not only gain a highly reputable degree, but that you also graduate with relevant life and work based skills. We are unique in that every student is eligible to participate in The Lancaster Award which offers you the opportunity to complete key activities such as work experience, employability/career development, campus community and social development. Visit our Employability section for full details.
Lancaster Management School has an award winning careers team to provide a dedicated careers and placement service offering a range of innovative services for management school students. Our high reputation means we attract a wide range of leading global employers to campus offering you the opportunity to interact with graduate recruiters from day 1 of your degree.
A Level AAB
Required Subjects A level Mathematics grade A
GCSE English Language grade C or 4
IELTS 6.5 overall with at least 5.5 in each component. For other English language qualifications we accept, please see our English language requirements webpages.
International Baccalaureate 35 points overall with 16 points from the best 3 Higher Level subjects including 6 in Mathematics HL (either analysis and approaches or applications and interpretations)
BTEC Considered alongside A level Mathematics grade A
We welcome applications from students with a range of alternative UK and international qualifications, including combinations of qualifications. Further guidance on admission to the University, including other qualifications that we accept, frequently asked questions and information on applying, can be found on our general admissions webpages.
Contact Admissions Team + 44 (0) 1524 592028 or via ugadmissions@lancaster.ac.uk
Lancaster University offers a range of programmes, some of which follow a structured study programme, and others which offer the chance for you to devise a more flexible programme to complement your main specialism. We divide academic study into two sections - Part 1 (Year 1) and Part 2 (Year 2, 3 and sometimes 4). For most programmes Part 1 requires you to study 120 credits spread over at least three modules which, depending upon your programme, will be drawn from one, two or three different academic subjects. A higher degree of specialisation then develops in subsequent years. For more information about our teaching methods at Lancaster please visit our Teaching and Learning section.
The following courses do not offer modules outside of the subject area due to the structured nature of the programmes: Architecture, Law, Physics, Engineering, Medicine, Sports and Exercise Science, Biochemistry, Biology, Biomedicine and Biomedical Science.
Information contained on the website with respect to modules is correct at the time of publication, and the University will make every reasonable effort to offer modules as advertised. In some cases changes may be necessary and may result in some combinations being unavailable, for example as a result of student feedback, timetabling, Professional Statutory and Regulatory Bodies' (PSRB) requirements, staff changes and new research.
Students are provided with an understanding of functions, limits, and series, and knowledge of the basic techniques of differentiation and integration. Examples of functions and their graphs are presented, as are techniques for building new functions from old. Then the notion of a limit is considered along with the main tools of calculus and Taylor Series. Students will also learn how to add, multiply and divide polynomials, and will learn about rational functions and their partial fractions.
The exponential function is defined by means of a power series which is subsequently extended to the complex exponential function of an imaginary variable, so that students understand the connection between analysis, trigonometry and geometry. The trigonometric and hyperbolic functions are introduced in parallel with analogous power series so that students understand the role of functional identities. Such functional identities are later used to simplify integrals and to parametrise geometrical curves.
This full-year module provides the foundation for your future study in Economics. It is divided into three parts. The first part provides a thorough introduction to Microeconomics (including the theory of demand, costs and pricing under various forms of market structure, and welfare economics). The second part provides a thorough introduction to Macroeconomics (including national income analysis, monetary theory, business cycles, inflation, unemployment, and the great macroeconomic debates).
The third part of the module, taught in parallel with the first two parts, shows how the key Micro- and Macroeconomics ideas can help us understand the world around us. In this part, we will use economic experiments to answer various questions, such as whether economists are selfish. We will analyse whether a sugar tax is a good idea, automation and the minimum wage, the structure, conduct and performance of big technology firms, and use the skills we have learned to analyse inequality, Brexit, and Covid-19. We will also discuss the distinction between transitory inflation and stagflation, central banks’ changing objectives, cryptocurrencies and the financial markets, fiscal and monetary policy responses to the pandemic, the Great Depression and the Great Recession, quantitative easing, currency crises, and the Euro debt crisis. Economics A is taught in conjunction with modules (ECON103 or MATH100, depending on the degree) which provide the quantitative foundations for further study in Economics.
This course extends ideas of MATH101 from functions of a single real variable to functions of two real variables. The notions of differentiation and integration are extended from functions defined on a line to functions defined on the plane. Partial derivatives help us to understand surfaces, while repeated integrals enable us to calculate volumes.
In mathematical models, it is common to use functions of several variables. For example, the speed of an airliner can depend upon the air pressure and temperature, and the direction of the wind. To study functions of several variables, we introduce rates of change with respect to several quantities. We learn how to find maxima and minima. Applications include the method of least squares. Finally, we investigate various methods for solving differential equations of one variable.
This course provides a comprehensive introduction to the basic concepts and techniques of Accounting and Finance, which include financial accounting, managerial finance, and financial statement analysis.
An important element of this course is that it provides exposure to the business and financial environment within which the discipline of Accounting and Finance operates, using real-world financial data for actual companies.
The course covers concepts, techniques and interpretive skills that relate to the external financial reporting of companies and their relationship to the stock market, and to the use of accounting information for internal management purposes.
Introducing the theory of matrices together with some basic applications, students will learn essential techniques such as arithmetic rules, row operations and computation of determinants by expansion about a row or a column.
The second part of the module covers a notable range of applications of matrices, such as solving systems of simultaneous linear equations, linear transformations, characteristic eigenvectors and eigenvalues.
The student will learn how to express a linear transformation of the real Euclidean space using a matrix, from which they will be able to determine whether it is singular or not and obtain its characteristic equation and eigenspaces.
During this Preparation for Placement module, you will learn about the skills and expertise employers expect you to evidence; how to produce excellent CVs and cover letters; how to make an impact on application forms, what to expect at interviews and assessment centres. You will get to hear from final year students about their placement experience and a chance for you to learn about the placement opportunities on offer meeting graduate employers.
Probability theory is the study of chance phenomena, the concepts of which are fundamental to the study of statistics. This module will introduce students to some simple combinatorics, set theory and the axioms of probability.
Students will become aware of the different probability models used to characterise the outcomes of experiments that involve a chance or random component. The module covers ideas associated with the axioms of probability, conditional probability, independence, discrete random variables and their distributions, expectation and probability models.
This module will provide you with the opportunity to undertake a personal skills audit as part of the CV assignment. It will enable you to identify your current skills level and begin to collect evidence of skills acquisition. It will cover a detailed analysis of the individual in terms of personality, skills, goals, interests and career ideas, and self-development. It would include organisation recruitment processes, including consideration of what organisations are looking for, the nature of ‘transferable skills’ and how these can be developed, and how organisations can select and train people.
To enable students to achieve a solid understanding of the broad role that statistical thinking plays in addressing scientific problems, the module begins with a brief overview of statistics in science and society. It then moves on to the selection of appropriate probability models to describe systematic and random variations of discrete and continuous real data sets. Students will learn to implement statistical techniques and to draw clear and informative conclusions.
The module will be supported by the statistical software package ‘R’, which forms the basis of weekly lab sessions. Students will develop a strategic understanding of statistics and the use of associated software, which will underpin the skills needed for all subsequent statistical modules of the degree.
This module provides an overview of the design and main features of accounting information systems (AIS). It introduces methods used by business to meet the financial information needs of external parties and management and includes systems used for collecting, recording and storing transactions data, internal controls and effective design of AIS. It also provides an introduction to auditing, explaining why audit independence is a key factor in this profession. The module also examines some specific topics in auditing and relates these to the AIS syllabus, including materiality, going concern and the formulation of audit opinions.
Students will gain a solid understanding of computation and computer programming within the context of maths and statistics. This module expands on five key areas:
Under these headings, students will study a range of complex mathematical concepts, such as: data structures, fixed-point iteration, higher dimensions, first and second derivatives, non-parametric bootstraps, and modified Euler methods.
Throughout the module, students will gain an understanding of general programming and algorithms. They will develop a good level of IT skills and familiarity with computer tools that support mathematical computation.
Over the course of this module, students will have the opportunity to put their knowledge and skills into practice. Workshops, based in dedicated computing labs, allow them to gain relatable, practical experience of computational mathematics.
Students will be provided with the foundational results and language of linear algebra, which they will be able to build upon in the second half of Year Two, and the more specialised Year Three modules. This module will give students the opportunity to study vector spaces, together with their structure-preserving maps and their relationship to matrices.
They will consider the effect of changing bases on the matrix representing one of these maps, and will examine how to choose bases so that this matrix is as simple as possible. Part of their study will also involve looking at the concepts of length and angle with regard to vector spaces.
This module provides an introduction to the use of management accounting information for management purposes. This includes an examination of cost-volume profit analysis, the concepts of direct and indirect costs, and various costing methods. The importance of budgets to organisations and their impact on performance are also discussed.
This module covers project evaluation methods, risk, return and the cost of capital (including the capital asset pricing model), corporate financing (including dividend policy and capital structure) and an introduction to options.
This module examines some of the main features of financial reporting by UK companies, the associated regulatory requirements and the conceptual bases of these (UK Companies Acts and international accounting standards). Also examined are specific reporting topics of current interest and concern, including the basics of consolidated accounting.
Probability provides the theoretical basis for statistics and is of interest in its own right.
Basic concepts from the first year probability module will be revisited and extended to these to encompass continuous random variables, with students investigating several important continuous probability distributions. Commonly used distributions are introduced and key properties proved, and examples from a variety of applications will be used to illustrate theoretical ideas.
Students will then focus on transformations of random variables and groups of two or more random variables, leading to two theoretical results about the behaviour of averages of large numbers of random variables which have important practical consequences in statistics.
Statistics is the science of understanding patterns of population behaviour from data. In the module, this topic will be approached by specifying a statistical model for the data. Statistical models usually include a number of unknown parameters, which need to be estimated.
The focus will be on likelihood-based parameter estimation to demonstrate how statistical models can be used to draw conclusions from observations and experimental data, and linear regression techniques within the statistical modelling framework will also be considered.
Students will come to recognise the role, and limitations, of the linear model for understanding, exploring and making inferences concerning the relationships between variables and making predictions.
The dissertation is an extended academic piece of work that aims to allow students to explore an issue that may arise on their placement or which they may have become interested in as a result of their academic studies at Lancaster. The specification is deliberately flexible to allow for the varying placement experiences and resulting dissertation ideas which might arise.
This module deals with accounting for complex entities, addressing concepts, issues and techniques.
It examines accounting for business combinations, goodwill and strategic investments (associates and joint ventures), and other aspects of consolidation, foreign currency translation, accounting for leases, all within the context of modern accounting theory.
This module develops students' critical evaluation of advanced financial accounting issues and places this within the international accounting context. Topics covered include the accounting treatments of taxation, pensions and share-based payments. The module also introduces theoretical foundations and empirical research on issues of relevance to accounting practitioners and accounting regulators in topic areas such as earnings management, building on and extending the basics introduced in other modules
Statistical inference is the theory of the extraction of information about the unknown parameters of an underlying probability distribution from observed data. Consequently, statistical inference underpins all practical statistical applications.
This module reinforces the likelihood approach taken in second year Statistics for single parameter statistical models, and extends this to problems where the probability for the data depends on more than one unknown parameter.
Students will also consider the issue of model choice: in situations where there are multiple models under consideration for the same data, how do we make a justified choice of which model is the 'best'?
The approach taken in this course is just one approach to statistical inference: a contrasting approach is covered in the Bayesian Inference module.
This module aims to extend students’ understanding of management accounting, focusing on three distinct approaches to the discipline: conceptual, practical and applied. The conceptual material in the course will seek to develop critical thinking skills for students by inviting them to consider the wide range of philosophical and economic theories that fit with the management accounting paradigm. The practical element of the course will introduce students to new management accounting techniques, including the role of uncertainty in management accounting, management control systems and the use of transfer pricing. The applied material will centre on a series of case study classes in which students will be required to engage with case study material and articulate their ideas about how to help the case organisation solve the particular problems that it faces.
This course equips students with the knowledge to apply corporate finance theory to real-world situations. It builds on and extends the concepts covered in the basic financial management courses and introduces advanced topics in Corporate Finance. The major topics covered include capital budgeting, capital structure, corporate valuation, real options, equity financing for startups, IPOs, leasing, short term financing, merger and acquisitions, and corporate governance
This module introduces you to the leading financial platforms used in the financial industry. In particular, it gives you a general understanding of the structure, type of data and functionality of various platforms.
The module has a strong practical component, as you will be using financial databases to analyse and interpret data available and solve real-life financial problems. Through this, you will gain important insights into how financial platforms are used for problem-solving within the industry.
The objective of this module is to offer a practical introduction to the workings of today’s financial markets and institutions built on a theoretical base. Moving beyond the descriptions and definitions provided by other textbooks and UK university courses in the field, this module encourages students to understand the connection between the theoretical concepts and their real-world applications.
Topics include foreign exchange, stock markets, bond markets, derivatives, central banks' monetary policy and financial crises. We also look at how trading in financial markets takes place. This module prepares students for successful careers in the financial services industry or successful interactions with financial institutions, whatever their future careers.
This module provides a foundation in banking by familiarising students with the basic business activities of banks, and illustrates the role of banks for the economy while retaining a bank-level rather than a macroeconomic perspective. It also highlights the role of regulation and supervision in the banking industry to differentiate banking from all other industries, and how crises reshape regulation in banking. The objective of this module is to introduce banking and what is special about it into the curriculum to equip students with a basic foundation to pursue careers in the banking industry.
This module provides knowledge that is important to those concerned with financial management in a multinational setting. Areas covered include the relationships between exchange rates, interest rates and inflation rates, forward, futures and options markets, and corporate exchange rate risk management.
This module provides a detailed analysis of four key Finance paradigms:
The aim of this module is to equip students with the tools necessary to enable them to make the core investment management decisions that managers face on a daily basis as well as the knowledge as to where they can find the information necessary to apply those tools. This course is an introduction to investment analysis, with emphasis on the pricing of equity securities. This course covers fundamental concepts and key issues in asset pricing; modern portfolio theory and its applications; equilibrium theories of asset pricing; portfolio performance evaluation; mutual funds and hedge funds. It provides an entry point to advanced-level subjects and foundational knowledge on the valuation and arbitrage of investment assets.
This module examines the economic rationale for auditing, the structure of the industry and considers some of the problems faced by the auditing industry. Fundamental issues involved in auditing financial statements and financial information systems are examined.
This module investigates the role of ethics in business life. The course looks at this topic from multiple perspectives, considering various theories and models that help to unpack both individual and corporate ethics. The syllabus includes stakeholder analysis and management, corporate social responsibility, different forms of ethical reporting, various codes of governance and conduct, and some ethics-related aspects of UK law.
The main purpose of this module is to give students a thorough grounding in the materials expected of a professional financial analyst and thus prepare students to take the Chartered Financial Analyst (CFA) Level 1 examination.
As such, it will introduce and review the theories, methods and professional standards relating to financial analysis; help students apply the knowledge and skills developed during this and other modules to the investment problems encountered by professional financial analysts; and prepare students to sit and pass the February CFA Level-1 exam administered by the CFA Institute.
This module gives you an understanding of the economic and social impact of taxation and how these impacts influence the formation of tax policy. It covers the basic principles of UK income tax, corporation tax and other taxes, and teaches you the skills needed to perform basic tax computations.
Our annual tuition fee is set for a 12-month session, starting in the October of your year of study.
Our Undergraduate Tuition Fees for 2023/24 are:
| UK | International |
|---|---|
| £9,250 | £24,600 |
There may be extra costs related to your course for items such as books, stationery, printing, photocopying, binding and general subsistence on trips and visits. Following graduation, you may need to pay a subscription to a professional body for some chosen careers.
Specific additional costs for studying at Lancaster are listed below.
Lancaster is proud to be one of only a handful of UK universities to have a collegiate system. Every student belongs to a college, and all students pay a small college membership fee which supports the running of college events and activities.
For students starting in 2022 and 2023, the fee is £40 for undergraduates and research students and £15 for students on one-year courses. Fees for students starting in 2024 have not yet been set.
To support your studies, you will also require access to a computer, along with reliable internet access. You will be able to access a range of software and services from a Windows, Mac, Chromebook or Linux device. For certain degree programmes, you may need a specific device, or we may provide you with a laptop and appropriate software - details of which will be available on relevant programme pages. A dedicated IT support helpdesk is available in the event of any problems.
The University provides limited financial support to assist students who do not have the required IT equipment or broadband support in place.
In addition to travel and accommodation costs, while you are studying abroad, you will need to have a passport and, depending on the country, there may be other costs such as travel documents (e.g. VISA or work permit) and any tests and vaccines that are required at the time of travel. Some countries may require proof of funds.
In addition to possible commuting costs during your placement, you may need to buy clothing that is suitable for your workplace and you may have accommodation costs. Depending on the employer and your job, you may have other costs such as copies of personal documents required by your employer for example.
You will be automatically considered for our main scholarships and bursaries when you apply, so there's nothing extra that you need to do.
You may be eligible for the following funding opportunities, depending on your fee status:
Unfortunately no scholarships and bursaries match your selection, but there are more listed on scholarships and bursaries page.
| Scheme | Based on | Amount |
|---|---|---|
| Based on {{item.eligibility_basis}} | Amount {{item.amount}} |
We also have other, more specialised scholarships and bursaries - such as those for students from specific countries.
Browse Lancaster University's scholarships and bursaries.
In her blog, Paula Robezniece talks about her experience on the course and Lancaster "LUMS is great, not only with providing excellent education but also with giving extensive support for career-orientated students."
Read Paula's BlogJoin Meenal and Vlad as they take you on a tour of the Lancaster University campus. Discover the learning facilities, accommodation, sports facilities, welfare, cafes, bars, parkland and more.
Undergraduate Open DaysThe information on this site relates primarily to 2023/2024 entry to the University and every effort has been taken to ensure the information is correct at the time of publication.
The University will use all reasonable effort to deliver the courses as described, but the University reserves the right to make changes to advertised courses. In exceptional circumstances that are beyond the University’s reasonable control (Force Majeure Events), we may need to amend the programmes and provision advertised. In this event, the University will take reasonable steps to minimise the disruption to your studies. If a course is withdrawn or if there are any fundamental changes to your course, we will give you reasonable notice and you will be entitled to request that you are considered for an alternative course or withdraw your application. You are advised to revisit our website for up-to-date course information before you submit your application.
More information on limits to the University’s liability can be found in our legal information.
We believe in the importance of a strong and productive partnership between our students and staff. In order to ensure your time at Lancaster is a positive experience we have worked with the Students’ Union to articulate this relationship and the standards to which the University and its students aspire. View our Charter and other policies.
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Career support for our students through university and beyond.
Lancaster has so much to offer. On our campus, in our city and in our community, you’ll find your place – whoever you are.
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