Statistical Methods for Accounting and Finance
| Module title | Statistical Methods for Accounting and Finance |
|---|---|
| Module code | BEA1014 |
| Academic year | 2025/6 |
| Credits | 15 |
| Module staff | Mr Ian Andrews (Lecturer) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 300 |
|---|
Module description
This module equips you with foundational statistical skills essential for proficiency in accounting and finance. It focuses on introducing key statistical concepts, techniques, and tools relevant to analysing financial data. You will develop sound knowledge in applying statistical methods to real-world financial scenarios, enhancing their ability to make informed decisions. Through practical applications and occasional case studies, you will grasp statistical tools like regression analysis, probability, and hypothesis testing. This module aims to cultivate a strong quantitative foundation, empowering you with the analytical skills crucial for a successful career in accounting and finance.
Internationalisation:
Statistical tools are generally applicable; scenarios for collecting and analysing data will have a mixture of UK, EU and non-EU flavours so that they are more relevant to an international student body. Collaborative work on the case study aims to bring students together from different cultural backgrounds.
Sustainability:
Availability of study materials (lecture notes, tutorial questions, readings) on ELE rather than by hard copy. Some tutorial question scenarios will reflect sustainability issues such as sourcing of materials, resource consumption and alternative energy sources.
Employability:
Student competence gained in using Microsoft Office in the completion of the case study will be useful in internships, work placements and on graduation.
Ethics and corporate responsibility:
Statistics and its use in fraud detection will be discussed in the module.
Module aims - intentions of the module
The module aims to provide you with an understanding of the role of statistical methodologies in accounting and finance through both theory and practice. You are given the opportunity of analysing data using Excel spreadsheet software with a variety of data types and statistical models.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. discuss, calculate and interpret descriptive statistics
- 2. use probability theory and tools in business decisions
- 3. construct and interpret point estimates and confidence intervals
- 4. perform hypothesis tests and interpret test results
- 5. use and critically evaluate tools such as correlation analysis, analysis of variance and regression
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 6. evaluate the role of numerical evidence in the accounting, finance and business environment
- 7. analyse quantitative problems in business, finance and accounting
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 8. apply quantitative, computational and written communication skills
- 9. explain the ethical issues in relation to the use of data, and the use and development of information technology
- 10. evaluate critically the importance of assessing the selection, capture, analysis and use of data and information, and describe its legal and commercial aspects
Syllabus plan
• Defining data and related vocabulary
• Organising and visualising data using tables and charts
• Describing data using numerical summaries
• Basic probability: simple, joint and marginal probabilities; conditional probability
• Discrete probability distributions: binomial and Poisson
• Continuous probability distributions: normal and uniform, and approximations to the binomial and Poisson distributions
• Sampling and sampling distributions
• Point and interval estimation of single population means and proportions using the normal and t-distributions; estimating sample size
• One-sample hypothesis testing: single mean and proportion
• Two-sample hypothesis testing: difference between two means and proportions
• Chi-square and nonparametric tests
• Linear regression
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 31 | 119 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching | 20 | Lectures |
| Scheduled Learning and Teaching | 10 | Tutorials |
| Scheduled Learning and Teaching | 1 | Revision |
| Guided Independent Study | 119 | Reading, question practice and assessment preparation |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Weekly problems and questions to assist tutorial discussions | 1 hour in-class session | 1-10 | Tutor summary of questions and suggested solutions. Solutions available on ELE |
| Ad hoc tutorial discussions | 1 hour in-class session | 1-10 | In-class feedback |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 0 | 100 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| In-term test (closed book, invigilated) | 30 | 1 hour | 1-10 | Mark awarded, lecture debrief and answer key on ELE |
| Written examination (closed book, invigilated) | 70 | 2 hours | 1-10 | Suggested solutions on ELE |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| In-term test | In-term test (30%) | 1-10 | Referral/deferral period |
| Written examination | Written examination (70%) | 1-10 | Referral/deferral period |
Re-assessment notes
Reassessment of individual component(s) only applies if you fail to If you pass the module overall you will not be referred in any component – even if you have not passed one or more individual components.
For students who are writing a referred or deferred in-term test, reassessment will be by means of a one-hour test; for a referred or deferred written examination, reassessment will be by means of a two-hour examination.
Indicative learning resources - Basic reading
Basic reading:
Core texts:
• Anderson, D.R., Sweeney, D.J., Williams, T.A., Freeman, J. and Shoesmith, E. (2024) Statistics for Business and Economics (6th ed.). Cengage Learning EMEA.
• Illowsky, B. and Dean, S. (2018). Introductory Statistics. Houston: Rice University
Indicative readings:
• McClave, JD. M. Benson, P. Stephan, D. F. and Sincichzabat, TK. A. (202114), Statistics for Business and Economics (147 th ed.). Harlow: Pearson Education Limited
Indicative learning resources - Other resources
Other resources:
- Directed reading, tutorial questions and further practice questions
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | This module is for BSc Finance and Accounting and BSc Finance students only |
| Module co-requisites | Non-requisites: Cannot be taken with BEE1022, BEE1025 or BEM1024 |
| NQF level (module) | 4 |
| Available as distance learning? | No |
| Origin date | 16/11/2023 |
| Last revision date | 09/06/2025 |
