The Liberal Art University in Hong Kong
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Message from the Programme Co-Directors
Programme Structure
Professional Recognition
Admission Requirements
Applications for Admission
Course Descriptions
Tuition Fees
Scholarships and Financial Assistance
Other Information of class

 

Programme Co-Directors

Professor LIN Zhen-pin, Kenny, BA (Jiangxi Fin. & Econ. Univ.; MSc. (Stratclyde); PhD (Glasgow, Caledonian); CGA
Professor Zhang Yue, BA (Nankai Univ.); MS. (UT Dallas); MBA (UT Dallas); PhD (UT Dallas)

A Message from the Programme Co-Directors

We are pleased to invite applications for the 2017-18 intake of the full-time Master of Accountancy (MAcc) Programme organized by the Department of Accountancy, Lingnan University.  The MAcc is a one-year full-time programme and the class will commence in early September 2017.  The programme is opened to both local and non-local applicants.  

An intermediate award, Postgraduate Diploma in Accountancy (PGDA) will be granted to every qualified MAcc students who has successfully completed six required PGDA courses in the first semester. Qualified students are required to proceed to complete another five courses in the second semester to receive the MAcc award.  PGDA awardees can apply for direct entry to the Qualification Programme (QP) of the Hong Kong Institute of Certified Public Accountants (HKICPA), provided they hold a recognized first degree. Passing the QP is a pre-requisite to become a qualified professional accountant, i.e., a CPA, in Hong Kong.

There have been major reforms in international and local accounting and auditing standards since the recent financial scandals in the US, Europe and China.  Increasing complexity in the business and regulatory environment explains the high demand for enhanced knowledge in accountancy for both business executives and professional accountants.  By providing a deeper knowledge in accountancy beyond the bachelor degree level, our programmes serve to equip students to meet the needs of society.  In fact, accounting education is no longer something just for professional accountants; rather, it is an essential management tool for all business executives.  Hence, our MAcc programme can serve anyone in business who wants to strengthen their knowledge in accountancy and related areas.  This programme also offer you an outstanding opportunity to network with personnel who possess diverse business management skills and other expertise.

We are committed to excel in providing accounting education.  All of our Department’s full-time staff members teaching in the programme are qualified accountants (CPAs or equivalent) or lawyers and most hold doctoral degrees in Accountancy or closely related disciplines.  We have significant expertise in the latest developments in professional accountancy and related education.  Backed up by our top level research, our connections with industry, and the University’s quality assurance system, our Department provides an outstanding education in all of its programmes. 

The programme is designed to provide a high quality postgraduate level education to meet the needs of the Hong Kong community and increasing demands from Mainland China in accounting, audit and tax executives and for the leaders of tomorrow.  We believe the programme is valuable and relevant for your personal and career advancement.  We hope you are interested in our programme and we look forward to meeting you soon.

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Programme Structure

The full-time MAcc is a credit-based programme. All courses in the programme structure are designed on the basis of three-credit units, and each three-credit course requires 39 hours of class contact.  The normal duration for the full-time MAcc programme is 1 year and the maximum period of study will be 3 years from the date of first registration. 

Students are required to complete six required courses (congruent to the part-time Postgraduate Diploma in Accountancy curriculum) in the first semester. 

Upon successful completion of the 18 credits in the first semester, students are eligible for proceeding to the second semester.  Students are required to complete the 5 courses (15 credits), one required course and four elective courses, in the second semester. Upon completion of these five courses prescribed in the MAcc curriculum and have a cumulative GPA of 2.67 or above, a Master of Accountancy degree is granted to these students, subject to the satisfaction of University graduation requirements.

Pre-entry Courses

Applicants with a non-business degree have to pass a Pre-entry programme prior to their formal admission to the MAcc programme.  The Pre-entry programme includes courses in six subjects, Accounting, Intermediate Accounting, Economics, Information Systems Management, Management and Statistics, which are non-credit bearing courses with a pass/fail result.  Students may also satisfy the pre-entry programme requirements by taking equivalent bachelor degree courses in other recognized tertiary programmes.  Subject to demand, the Pre-entry programme will be offered starting from mid-July 2017 during weekday evenings and weekends.

Pre-entry Programme(non-credit bearing)

(For non-business degree holders only.)

Class Contact Hours

1. Accounting

15

2. Intermediate Accounting

15

3. Economics

15

4. Information Systems Management

15

5. Management      

15

6. Statistics    

15

Total class contact hours

90


Programme Curriculum/Study Plan

First semester: to complete six courses (18 credits)

Required Courses:

Lecture Hours

Credits

1. ACT501 Auditing

39

3

2. ACT502 Business and Company Law

39

3

3. ACT503 Cost and Management Accounting

39

3

4. ACT504 Financial Accounting and Reporting

39

3

5. ACT505 Hong Kong Taxation and Tax Planning

39

3

6. ACT506 Managerial Finance

39

3

Total credits

 

18

Second semester: to complete five courses (15 credits)

Required Course:

Lecture Hours

Credits

1. ACT601 Accounting Theory

39

3

Four Elective Courses*:

2. Elective 1

39

3

3. Elective 2

39

3

4. Elective 3

39

3

5. Elective 4

39

3

Total credits

 

15

Elective Courses*:
ACT602 Research Project
ACT603 Comparative Financial Reporting and Accounting
ACT604 Accounting and Taxation in Mainland China
ACT605 Contemporary Issues in Management Accounting
ACT606 Forensic Accounting and Fraud Examination
ACT607 Financial Statement Interpretation and Analysis
ACT608 The Economic Law of China
ACT609 Advanced Auditing 
ACT610 Accounting Ethics and Corporate Governance
ACT611 Comparative Legal Systems

* The offering of elective courses is subject to sufficient demand and faculty availability.

A seminar or workshop on business communication may be arranged during the MAcc study to strengthen students’ communication skills. Students in the MAcc programme are required to attend the seminar or workshop (if any).

Progression Requirement

Students are required to achieve a cumulative GPA of 2.5 or above in order to proceed to the next term. The studies of those students who cannot meet such GPA requirement will normally be discontinued. Special approval may be considered on a case-by-case basis.


Professional Recognition

HKICPA
The first half of our MAcc curriculum (i.e. the six required PGDA level courses in the first semester) has been accredited as an approved Conversion Programme under the Qualification Programme (QP) of the Hong Kong Institute of Certified Public Accountants (HKICPA).  Awardees of the PGDA are eligible to apply for direct entry into the Institute’s QP, provided they hold a recognized first degree.  Passing the QP is a pre-requisite for becoming a qualified accountant, CPA, in Hong Kong. Mutual examination paper exemption recognition has also been arranged between the HKICPA and the Chinese Institute of Certified Public Accountants (CICPA). There is also reciprocal recognition with other profressional accounting bodies.

ACCA
Certain subjects within our MAcc programme are entitled to corresponding exemptions from respective ACCA examination papers. You are advised to visit ACCA's website <http://www.accaglobal.com/> to find out further details about its exemption policy and qualification requirements.

CPA Australia
Qualified PGDA awarders are eligible for CPA Australia’s associate membership and can commence their studies at the professional level of the organisation’s CPA Prgoramme.

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Admission Requirements

The minimum requirement for admission to the one-year full-time MAcc programme can be met by any one of the following:

(1)   a bachelor’s degree in business or equivalent from a recognized tertiary institution;

(2)   a bachelor’s degree in a non-business discipline from a recognized tertiary institution (applicants under this category have to complete the pre-entry programme);

(3)   other qualifications and experience equivalent to (1) or (2) above (Such applications shall be considered on a case-by-case basis).

Notes:

  1. Applicants with a degree who have studied Accounting, Economics, Information Systems Management, Management, and Statistics from a bachelor degree programme in a recognized tertiary institution are considered “business degree holders”.

  2. Applicants bear the responsibility to confirm with the HKICPA that their bachelor degrees are recognized in meeting the student registration requirements of the HKICPA QP before applying for admission to the PGDA programme.  The PGDA awardees shall be eligible to enroll in the HKICPA QP.  However, the final admission decision is subject to the approval of the HKICPA.

  3. Those currently undertaking a bachelor degree and who expect to acquire it before the programme commences may also apply for admission. The admission offer will be conditional upon the applicant’s successful completion of the bachelor degree before the commencement of the MAcc programme.

  4. An applicant whose undergraduate degree is not from a tertiary institution in Hong Kong or an English-speaking country should obtain a minimum score of 550 (paper-based test) or 213 (computer-based test) or 79 (internet-based test) in the Test of English as a Foreign Language (TOEFL), a band score of 6.5 or above in the International English Language Testing System (IELTS), or a score of 450 in the College English Test (CET) Band 6, or an equivalent score in a recognized test, or an equivalent qualification to prove his/her language proficiency which will be considered on a case-by-case basis.

Exemption Policy

In general, course exemptions will not be granted unless the student has completed a programme (at bachelor degree level or above in a recognized tertiary institution) that is comparable in scope and standards to the MAcc required courses and has achieved an average grade of B- or above. Exemption application will be considered on a case-by-case basis. 

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Applications for Admission

1.  Application Period

The closing date for applying for MAcc 2017-18 is 30 April 2017.
If an applicant submits the completed application on or before 28 February 2017, HK$4,000 of the tuition fee will be waived. If an applicant submits the completed application on or before 31 March 2017, HK$2,000 of the tuition fee will be waived. (Early bird discount does not apply to visiting/auditing students.)

Admissions will be closed once the quota is reached.

2.  Application Fee
A non-refundable and non-transferable application fee of HK$400 is charged for each application.

3.  Application Procedures
Applicants can apply by either online or paper form by post, but not both. 

Online Application

Applicants could apply via the University’s online application system and settle the application fee by a visa or master credit card. An application is valid and accepted only when the payment procedures are successfully completed.

An acknowledgement email with the application number assigned will be sent to the applicant upon each online payment transaction. The applicant should check with the Programme if he/she does not receive the acknowledgement email.

By post

Applicants should place all of the following materials in a sealed envelope and send them to the MAcc Programme, Department of Accountancy, Lingnan University, Tuen Mun, N.T., Hong Kong:

(a)  Completed application form
(b)  Crossed cheque (or money order) in the amount of HK$400 for the application fee, payable to “Lingnan University”
(c)  Copies of academic transcripts and graduation certificates
(d)  Copies of certificates of a recognized English test (if applicable)
(e)  Copy of Hong Kong ID card or passport
(f)   One recent passport size photo with BLUE background colour
(g)  Paragraph of 100–200 words describing the reasons for choosing this programme
(h)  Two reference letters

Non-local applicants must obtain a valid student visa issued by the Hong Kong Immigration Department before being allowed to register as students or commence study with us. You are also required to apply for a valid exit permit from your Country.

Any false or misleading information given in the application will lead to disqualification of the application and any fees paid will be forfeited.  If the application received is incomplete, the Department has the authority to deny the application.

4. Selection

All applicants for admission to the programme will be considered on the basis of academic and/or professional qualifications, work experience, suitability, and potential.  Applicants may be required to attend an interview (may be by phone or online) conducted by the Programme Co-Directors and/or their associates.

Consideration of applications is processed on a rolling basis until all places are filled. Early applications are strongly encouraged. 

 

Declaration

Postgraduate Diploma in Accountancy Programme / Master of Accountancy Programme has no recruitment cooperation with any admission agency.

 

Application Form

Click here to download

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Course Descriptions for the MAcc Programme

(Not all elective courses will be offered in a given year. The offering is subject to sufficient demand and faculty availability.)

 

ACT501 Auditing

This course examines the theory and practice of financial auditing and selected professional issues in accounting and auditing.  Coverage includes professional ethics, accountants’ legal liability, the role and responsibilities of auditors, basic auditing concepts and techniques, fraud and internal control, statistical sampling in auditing, auditing procedures for major accounts and transaction cycles, audit reporting, and other types of attestation and assurance services.  Case studies and current professional developments will be integrated throughout the course.

 

ACT502 Business and Company Law

This course introduces the characteristics of the Hong Kong legal system and the general principles of contract law.  It also discusses the characteristics of different types of business organizations including sole proprietorships, partnerships and companies.  Detailed elaboration will be provided on incorporation procedure, requirements for raising funds by share capital and loan financing, legal considerations in operating a company, and winding up procedure of a business registered pursuant to the Companies Ordinance (Cap.622).

 

ACT503 Cost and Management Accounting

This course introduces students to the basic concepts, techniques and applications of cost and management accounting.  Topics include cost concepts, cost behaviour, costing systems, cost determination and allocation, standard costing and variance analysis, relevant costs, and budgetary planning and performance evaluation.  Methods and techniques of cost management in the service sector and in the advanced manufacturing environment are discussed.  Accounting implications for management planning, control, and decision making will be emphasized.  Throughout this course, students will be expected to actively participate in class discussions including cases.

 

ACT504 Financial Accounting and Reporting

This course deals with various aspects of financial accounting and reporting.  Topics covered include the financial reporting environment in Hong Kong, professional accounting standards for assets, liabilities and equity, deferred income taxes, accounting for post-retirement benefits, accounting for long-term investments, business combinations, consolidation of financial statements, and interpretation of financial statements.

 

ACT505 Hong Kong Taxation and Tax Planning

This course covers the basic law and practice of the Hong Kong taxation system, including salaries tax, property tax, profits tax, personal assessment, depreciation allowances, stamp duty, and tax administration.  Additionally, the course will introduce problem solving with practical examples.  Local tax cases will be discussed extensively.

 

ACT506 Managerial Finance

This course provides a framework for analyzing the major financial decisions made by commercial firms.  Issues addressed include asset valuation models, investment decision making, analysis of risk, financial planning, dividend policy, working capital management, sources of long-term financing and the cost of capital, financial mix for the firm, financial markets, and foreign exchange risk and transactions.

ACT601 Accounting Theory
This course examines the nature of accounting, accounting theory and the extent to which it applies to current accounting practice as well as certain contemporary issues in accounting.  In addition, this course critically discusses various theories underlying the economics of financial accounting and reporting and how they impact the regulation process, measurement practices, disclosure practices and decision making.

 

ACT602 Research Project
This course allows students to bring together knowledge and skills acquired during their study and apply them to solve a practical accounting and business problem.  This course requires extensive investigation and culminates in a quality report with relevant findings and sound recommendations.  Topic of the research is by mutual agreement between the supervisor and the student.

 

ACT603 Comparative Financial Reporting and Accounting
This course compares the accounting and financial reporting systems across major developed and developing countries and analyses the cultural, social and economic factors that underpin those systems.  Topics covered include the rationale for comparative analysis of accounting and financial reporting systems, environmental influences on accounting and financial reporting, harmonization, and international accounting and financial reporting issues for multinational enterprises.

 

ACT604 Accounting and Taxation in Mainland China
This course will cover the regulatory framework of financial reporting in China, focusing on the new Accounting Standards for Business Enterprises (“ASBE”) effective January 1, 2007. The new Independent Auditing Standards effective January 1, 2007 will also be studied as well as discussions about the CPA profession in China and related issues such as audit independence and audit quality. Some major audit fraud cases will be examined to enhance the students’ awareness of professional ethical standards. The study of the taxation system in China will be the major focus of the course and it will provide solid coverage of the laws, regulations, and functions of the major types of tax: value added tax, business tax, consumption tax, Individual Income Tax (“IIT”), and the unified Enterprise Income Tax law (“EIT”) effective January 1, 2008.

 

ACT605 Contemporary Issues in Management Accounting
This course examines a variety of advanced management accounting concepts, principles, and techniques for manufacturing and service organizations.  It is divided into three parts:  (1) Cost analysis and joint product and by-product costing; (2) current and emerging issues in management accounting; and (3) international issues and comprehensive case studies.  The advanced topics may include quality cost management, performance evaluation, the balanced scorecard, transfer pricing, strategic cost management and environmental cost management.  International management issues will be discussed in a global context. Comprehensive cases selected for intensive study are relevant to the business environment in China and/or Hong Kong.

 

ACT606 Forensic Accounting and Fraud Examination
The course will include broad coverage of an array of related topics, including the sociology of white-collar crime; legal, regulatory, professional, and ethical issues; types of fraud; fraud prevention techniques; forensic accounting and fraud examination techniques; and fraud and forensic accounting in a digital environment.  This course assumes you have a working knowledge of basic accounting principles, auditing concepts and techniques, transaction processing cycles and internal controls, company law, and computer skills.

 

ACT607 Financial Statement Interpretation and Analysis
This course focuses on providing a framework for using financial statement data in a variety of business analysis and valuation contexts.  The framework consists of four key components: (1) business environment and strategy analysis, (2) accounting analysis (evaluation of accounting quality), (3) financial analysis (ratio and cash flow analysis), and (4) prospective analysis (forecasting and valuation).  Primary emphasis will be placed on accounting analysis and financial analysis.  Relevant information economics theory, accounting theory, and capital market theory will be incorporated as needed.

 

ACT608 The Economic Law of China
This course introduces to students the salient features of the PRC Economic Law, including the principles of agency, litigation, arbitration, sole traders, partnership, main types of foreign investment, companies, securities, bankruptcy, contract, and bills.

 

ACT609 Advanced Auditing
This course covers a variety of topics typically not covered in introductory auditing courses. In addition to internal controls and auditing procedures for various accounts, the course provides in-depth coverage of topics such as audit sampling, auditing in computerized environments, and other types of attestation and assurance services beyond the basic financial statement audit. It also covers real-world auditing cases. 

 

ACT610 Accounting Ethics and Corporate Governance
This course introduces the main principles and concepts of accounting ethics and corporate governance, and discusses how the two are linked.  It explains, in the context of the current crisis of trust in the accountancy profession, the ethical expectations that business and society have of accountants. It introduces normative theories of ethics and ethical decision models to the students. The course then examines the conflicts of interest that may occur in practice in the accounting profession. It discusses the nature, objectives and limitations of professional codes of ethics, focusing on that of the HKICPA.  The course then describes the main mechanisms through which corporate governance operates, in particular the board of directors, and discusses the ways in which good governance serves the interests of the main stakeholders in a company.  It investigates the role of the accountant in improving corporate governance. The course concludes by explaining how corporate governance is currently applied in national and global contexts.

 

ACT611 Comparative Legal Systems
The course introduces the salient features of the legal system of the PRC and compares it with other major jurisdictions which have representative legal regimes. Major legal systems in the world include the Common law, Civil law, Islamic law (Sharia) and Scandinavian systems.

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Tuition Fees

Tuition fee for the MAcc programme is HK$120,000 for local students and HK$152,000 for non-local students.  The amount shall be paid within two weeks from the date of official notice of admission.  The full amount is to be paid regardless of the number of courses exempted.  Tuition fees paid are NOT refundable/transferable whether the student completes the programme or not.  The tuition fee for EACH Pre-entry course is HK$5,000

Any applicant who needs to complete the Pre-entry programme is required to pay (1) tuition fees for the applicable pre-entry course(s); and (2) a non-refundable/non-transferable deposit for the MAcc upon admission to the Pre-entry programme.  Other than in cases when the student cannot pass the Pre-entry programme, the deposit paid is NOT refundable. 

A deposit of HK$600 (subject to adjustment) is payable by all students together with the payment of the PGDA / MAcc tuition fee.  The amount is used to cover the University’s PGDA / MAcc graduation fee (payable upon approval for graduation). 

 

Scholarships and Financial Assistance

Scholarships

MAcc Scholarship

A number of scholarships will be awarded to MAcc students based on academic merits and services.

Mr. D. W. Mak Memorial Scholarship

Under the donation from Mr. Richard Ho Kam Wing of Deloitte Touche Tohmatsu, the scholarship will be awarded to one PGDA student upon graduation for the full amount of the PGDA tuition paid by the scholarship recipient based mainly on academic merits.

Lingnan University Accountancy Education Foundation and Scholarships

The foundation is set up by our PGDA and MAcc alumni.  A number of scholarships will be awarded to MAcc students based on academic merits and services.

Financial Assistance

Government Student Financial Assistant

Local students are eligible for applying the Non-means Tested Loan Scheme. The scheme offers loans up to the maximum amount of tuition fees. Students are expected to repay the loans at a full-cost recovery interest rate within a specified period after graduation or upon leaving the University.

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Commencement Date of the MAcc Classes (tentative)

1 September 2017 (Friday).

 

Time and Venue of Classes

The MAcc classes will normally be held on weekdays or Saturdays at Lingnan campus.

For the pre-entry courses (which will normally be offered from mid-July 2017), class meeting times and venues will depend on class enrollment.  A formal announcement will be made prior to the commencement of the courses.

 

Language of Instruction

English (mainly)

 

Granting of MAcc Award

The performance of participants in each course is assessed by examinations as well as other assessment methods, such as assignments, group projects and presentations.  The assessment process will follow the general grading policy as prescribed by Lingnan University.  Students will be granted with the relevant PGDA and MAcc awards after completing the total credits required, and satisfying the GPA and other University requirements.

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