Key information

Duration: 1 year full time

Institution code: R72

Campus: Egham

UK fees*: £18,600

International/EU fees**: £27,000

The course

Accounting and Financial Management (MSc)

This course will develop your understanding of the theory and practice of accounting and financial management, regardless of your undergraduate background. You will study financial accounting, management accounting, financial management and other important topics in accounting and finance. The course draws upon the extensive research, practical knowledge, and teaching expertise of our accounting and finance academics.

The MSc in Accounting and Financial Management is suitable if:

you have an academic background in accounting, finance, business or management and wish to advance your knowledge in accounting and financial management.
you have graduated from another discipline, whether arts, sciences or social sciences, and wish to obtain a postgraduate qualification which will provide you with an understanding of accounting and financial management issues.

On graduating you will have acquired a number of transferable skills, including the ability to assess and employ a variety of analytical techniques, write reports, give presentations and work as a team.

Reasons to choose Accounting and Financial Management MSc at Royal Holloway:

Strong career prospects in accounting, finance and commercial areas; organisations value graduates with knowledge and understanding of contemporary accounting and financial management who can also reflect on their broader setting and implications.
Outstanding research; Royal Holloway sits in the top 25 per cent of UK universities for research which is rated as ‘world-leading’ and ‘internationally excellent’
Inspiring international community; approximately 60% of our Management students come from overseas, with over 130 countries represented across the University.

We sometimes make changes to our courses to improve your experience. If this happens, we’ll let you know as soon as possible.

Course structure

Core Modules

The mandatory modules you will take during your studies are:

In this module you will develop an understanding of contemporary issues in the theory and practice of international financial accounting and reporting. You will look at the fundamental characteristics, aims, contents, and structures of the main financial reports through which organizations measure and report their financial performance and position. You will examine the usefulness of financial accounting reports, and the tools and techniques of financial analysis. You will consider issues related to the recognition and measurement of intangible assets, ways of valuing assets, key regulatory differences, the conceptual framework and differences between IFRS and US GAAP. You will also critically evaluate the reporting and the financial performance of companies.
In this module you will develop an understanding of current issues in management accounting and related social, organisational and international influences. You will look at performance management and investment appraisal in an international context, perspectives on culture, control and accountability, and the transition to a knowledge and service-based business environment. You will consider the differences in management accounting across countries, and examine issues in the context of the private sector and new public management, making comparisons between the two.
This course aims to introduce you to the key concepts of Financial Management through a combination of sound intuition and theoretical rigour; to prepare the foundations for more advanced study of Finance by encouraging you to develop a critical understanding of the main theories and models of Financial Management; to provide you with structured opportunities to apply the key tools and techniques of Financial Management; to encourage you to read widely and built links between what you are learning in the classroom and the financial reality.
This module aims to provide an understanding of the economic way of thinking about the world around us and how eg. government policies, changes in product price, cost and market structures affect businesses. The process is achieved through studying business economics from both microeconomics and macroeconomics perspectives. In microeconomics, you will learn to apply basic but fundamental economic concepts underlying the theory of the firm – profit maximisation, consumer behaviour – utility maximisation, and market competitions. In macroeconomics, concepts of key economic indicators and government economic policies are introduced.
In this module you will develop your analytical research skills so that you are better prepared for your dissertation project. You will look at approaches to research in accounting and financial management and the assumptions upon which they are based, and consider how to critically evaluate primary and secondary data sources. You will examine how to choose appropriate quantitative and qualitative research methods for data collection and subsequent analysis, and how to conduct research in a systematic and critical reflective manner. You will also analyse the ethical implications of research investigations and their impact upon findings.
This module will describe the key principles of academic integrity, focusing on university assignments. Plagiarism, collusion and commissioning will be described as activities that undermine academic integrity, and the possible consequences of engaging in such activities will be described. Activities, with feedback, will provide you with opportunities to reflect and develop your understanding of academic integrity principles.

Optional Modules

Below is a taster of some of the exciting optional modules that students on the course could choose from during this academic year. Please be aware these do change over time, and optional modules may be withdrawn or new ones added.

Students can choose between:

Accounting and Finance Dissertation or Accounting and Finance Research Project plus 45 credits of optional modules.

The dissertation provides you with an opportunity to learn and practice researching and writing skills for your future career. You will apply the analytical and problem-solving techniques you have acquired throughout your studies to explore a specialist interest in greater depth. You will critically evaluate academic literature, collect data systematically, organise your findings, and present your research results in a clear and logical and manner. To help, your research proposal will be read by the programme director, who will select an appropriate member of staff to act as your dissertation supervisor. Your final submission will be between 12,000 and 15,000 words in length.
This module provides you with an opportunity to learn and practice researching and writing skills for your future career. You will demonstrate how to apply the analytical and problem-solving techniques you have acquired throughout your studies to investigate, analyse and make recommendations for a project in the area of accounting and/or finance. You will critically evaluate academic and business-related literature, collect data systematically, organise findings, and present research results in a clear and logical and manner in an 8,000-10,000 word project.
The objective of this module is to provide students with a critical appreciation of the relevance and overall role of sustainability accounting and accountability. To achieve this objective, the module will explore contemporary issues in the growing area of sustainability accounting including: notions of accountability in the context of sustainability, the role of accounting in embedding sustainability in decision making, sustainability reporting research and practice, and accounting's role in addressing key contemporary sustainability issues.
In this module you will develop an understanding of investment management in theory and practice. You will look at the contexts in which investment management takes place in an increasingly globalised market. You will consider theoretical perspectives, such as the capital asset pricing model, arbitrage pricing theory, and models of systematic risk, alongside empirical evidence and current practice. You will examine the techniques of financial risk management, with particular emphasis on derivatives, and critically analyse issues of international investments, behavioural finance and corporate restructuring. You will also gain experience in using professional sources of data such as those provided by Bloomberg Professional.
The aim of this module is to develop in-depth understanding of the characteristics and operation of the international financial markets. The analysis of international equity, bond, exchange and derivatives markets will be linked to the main concern of governments and international financial organisations taking part in these flows. This also enables students to appreciate the different trends in the integration of financial markets and financial intermediation within countries, regions and at global level.
This module provides students with the knowledge and techniques required to analyse a company’s financial statements and to estimate a company’s value. The following are the core topics to be covered: accounting analysis, financial analysis, forecasting and valuation.

Teaching & assessment

Assessment is carried out by a variety of methods including coursework, examinations and a dissertation.

Entry requirements

2:2

UK Honours degree or equivalent in any subject.

Candidates with substantial and relevant professional qualifications or professional experience in an associated area will also be considered.

International & EU requirements

Bachelors Degree/ Bachelor Honours Degree: GPA 2.6

Masters degree: GPA 3.0/ 80%

Diplomë e Integruar e Nivelit të Dytë:or Diplomë e Nivelit të Parë: 7/10, or Master i Shkencave në Mjekësi të Përgjithshme / në Mjekësi Veterinarë / ne Stomatologji: 7/10

Licence, Diplôme, Diplôme d'Études Supérieures, Diplôme de Docteur en Pharmacie: 11/20

Batxelor: 5/10

Grau de Licenciado/a: 13/10

Bachelor degree from The University of the West Indies: GPA 2.5

Título, Grado de Licenciado/A: 6/10

Specialist Diploma, (Diplom bakalavri astichan), Bachelor degree from American University of Armenia: 70%, GPA 3.0 out of 4, or 14 out of 20

Bachelor degree (Honours) with a 2:2, or a Bachelor degree (Ordinary) with a Pass with 57% overall.

Bachelor degree or Fachhochschuldiplom/Diplom (FH): Bestanden- PASS, Befriedigend - Satisfactory, or 3 out of 5

Bachelor degree (Bakalavr) or Specialist Diploma with 3.5 out of 5 or 70% overall.

Bachelor degree from The University of the West Indies: 2:2, GPA 2.5

Bachelor degree: 2.6/4 or 3.2/5 or 65%

4 year Bachelor degree from Bangladesh University of Engineering and Technology (BUET) with a First Class Division or a Masters Degree following a 3 or 4 year degree.

Specialist Diploma 6/10, or Bachelor Degree 8/10

Bachelor degree with grade 12 overall or the Licentiaat or Licence and other two cycle diplomas with grade 12 overall.

Bachelor degree from The University of the West Indies: 2:2 or GPA 2.5

Diplôme d'études Approfondies/Supérieures/Master: 13 out of 20

Bachelors degree: 60%

Licenciado/Titulo de.... :60%, or Titulo de Bachiller Universitario: 70%

Diploma Visokog Obrazovanja Diploma Visokog Obrazovanja / Diplomirani with Grade 8

Bachelors or Masters: 60%

Título de Bacharel/ Titlo de... 6.5/10

Bachelor degree from The University of the West Indies: 2:2

Bachelor (Honours) Degree: Lower Second Class, or Bachelor (Ordinary) Degree GPA 2.5/5

Bakalavar or Diploma of Completed Higher Education with a Grade 4 out 6 overall.

Diploma d’Etudes Approfondies: 13/20

Diplome d’Etudes Approfondies: 70%

Masters degree: 60%

12/20 or GPA 2.5/4

4 year Bachelor degree with 62%, a GPA 2.5 out of 4, Grade 6 out of 12 or grade C+ overall OR 3 year Bachelor degree with 73%, a GPA of 3.1 out of 4, Grade 8 out of 12 or grade B overall, depending on the grading scheme.

Grau de Licenciado/a: 13/20

The University of the West Indies, or University of College of the Cayman Islands: 65%

Diplome d’Ingenieur (non-honours): 14/20

Diplôme d'Etat de Doctorat en Médecine, Diplome d'Etudes Approfondies 13/20

Grado de Licenciado en..., or Grado de Bachiller: 4.6/7

4 year Bachelors degree with an overall 65% to 70% or GPA of 2.8 to 3.0 out of 4.0 depending on the institution.

Licenciado en, Licenciado en, or Diploma de: 3.5/5

Licenciado, Bachiller: 7.5/10

Diplôme d'études supérieures spécialisées, Diplôme d'études approfondies, Diplôme d'Etat de docteur en Pharmacie: 13/20

3 out of 5 overall in the Baccalaureus Prvostupnik or Visoko Obrazovanja/Level VII/1 (second level degree obtained on completion of 4-6 year course).

Titulo de Licenciado/ Arquitecto / Inginiero / Doctor: 3.5/5

Overall 6.5 out of 10 or a GPA of 2.5 out of 4 in a Bachelor degree from a public university, Ptychion (from University of Cyprus) or Bachelor degree awarded by a private institution (the programme must be accredited by the Ministry of Education and Culture).

Bakalar with dobre (good), score of 2 or Grade C overall.

Diplome d’Etudes Speciales, Diplome d'Etudes Approfondies, Maistrise/Diplome d'Ingenieur/Diplome d'etudes superieures:

7 from 13 points grading system or 4 from 7 points grading system in a Bachelor degree, Candidatus Philosophiae or Professionbachelor.

Diplome d'Ingenieur Bien, or Maitrise/ Master: 14

The University of the West Indies: Lower Second Class Honours, or BSc in Nursing from Dominica State College

Licenciado/Titulo: 75%

Titulo de Licenciado/a from Universidade Nacional Timor Lorosa'e

Titulo de Licenciado/ Titulo: 7/10 OR 70%

University bachelors degree with a GPA of 2.4 overall or 65% overall

Licenciado/ Titulo de: 6.5/10

Masters Degree: 2.6/4

71-80%, 3 or C overall in a Bakalaurusekraad/Diploma, Magister or Magistrikraad

2.5 out of 4

Bachelor Degree: 2.5 or overall grade Satisfactory

GPA of 1.4 where marks are in 1 - 3 system or GPA of 2.5 where marks are in 1 - 5 system in a Kandidaattii/Kandidat or Maisteri/Magister

Licence awarded from 2009 with grade 10-11.99 or Maitrise (pre-Bologna) with grade 11

Diplome D'Ingenieur, or Maitrise: Bien

Master's degree: 60%/ GPA 2.7/4.3

Bakalarvis Khariskhi: 71%

Grade 3 overall in a Bachelor, Fachhochschuldiplom or Magister Artium

Bachelor degree with a Second Class Lower Division overall.

6 out of 10 overall in a Diploma from the Faculties of Engineering and Agriculture or a Ptychion (Bachelor degree) awarded by an AEI.

Bachelor degree from The University of the West Indies: GPA 2.5

Licenciado/ Titulo: Pass mark of 51% University: 60% or Pass mark of 61% Universities: 70%

Diplôme d'Etat de docteur en médecine, or Diplome d’Etudes Superieures/Maitrise/Diplome d’Etudes Approfondies : 14/20

65%, or 3.0 out of 4

Titulo de Licenciado/a/Grado Academico de Licenciatura: 70%

Bachelors degree degree with a Second Class Honours, Lower Division.

Egyetemi Oklevel /Foiskola Oklevel/ Alapfokozat with 3 out of 5 overall.

Baccalaurreatus with grade 6.5 out of 10 overall or Kandidatsprof / Cadidatus Mag with 6 out of 10 overall.

Bachelor degree with 55% to 60% overall or a CGPA of 5.5 to 6 out of 10 overall depending on the NIRF 1-100 institution ranking

Bachelor degree or Diploma IV with overall GPA of 2.8.

Bachelor Degree/Professional Doctorate with 12 out of 20 overall.

Bachelor’s degree (four years) with 70% overall.

Bachelors degree with at least 65% overall depending on the mark scheme.

Diploma di Laurea or Licenza di Accademia di Belle Arti with 80 out of 110 overall.

Bachelor degree (when accredited by the University Council of Jamaica, or when awarded by the Council of Community Colleges of Jaimaica): Second Class Lower Division

Bachelor degree (Gakushi) with a B overall, dependent on the mark scheme.

Bachelor degree: GPA 2.8 out of 4, Good, C, 68%

Bakalavr or Specialist Diploma with 3.5 out of 5, 75% or 2.67 out of 4.33, or 2.67 out of 4 overall.

Bachelor degree with a Second Class Honours (lower division) overall.

Bacelor/Bachelor Degree: C - Good

Bachelor degree with B or a GPA of 2.6 overall.

Specialist Diploma, Bachelor Degree, Masters Degree: 3.0 out of 4 or 4.0 out of 5

Masters degree: C or GPA 2.0

Bakalaura Diploms or Professional Bakalaura Diploms with Grade 6 overal.

Bachelor Degree/ Licence: 70%

Masters Degree: 65%

Master's degree: 70% or GPA 2.4 out of 4.0

Bachelor Degree of Medicine/Surgery/Architecture/Engineering: 65% or 2.6/4

Dipl Ing (FH) or Dipl Arch (FH) from Liechtenstein Technical College with a Grade 4.4/6 overall.

7 out of 10 overall in a Bakalauras or Specialist Diploma.

Bachelor or Diplome d'ingenieur industriel: 14/20

Licenciatura: Lower Second Class Honours or GPA 2.5

Diplome d'Ingenieur: 13/20

Masters Degree: 60%

Bachelor degree with Class 2 Division ii, B or 2.6 out of 4.0 overall.

Bachelor degree (Maldives National University): GPA 2.5

Diplôme d'Etat de docteur en Pharmacie: GPA 15 out of 20

Honours degree with a Second Class (Lower Division) overall.

Maitrise: 13/20

Bachelor Degree: Class II division II

Titulo de Licenciado/Titulo: GPA 7 out of 10 or 70%

Diplomă de Licenţă: 7/10

Bachelor degree (awarded after 2012): 80 out of 100

Masters Degree: 70%

Diploma o završenim osnovnim akademskim studijama: Grade C

Licence/Licence d'Etudes Fondamentales/Licence Profesionnelle: GPA 111 out of 20

Grau de Mestre: 12/20

Master's degree: 60%

Bachelor Honours / Professional Bachelor degree: 60%

Bachelor degree (4 years) or Master's degree (following a 3-year Bachelor degree): 65%

Bachelor degree or Doctoraal with Grade 6.0 out of 10 overall.

Bachelor degree Honours or Ordinary with an overall Grade C+ or Grade 3 out of 9 points grading system.

Licenciado/Titulo: 80%

Diplôme d'études Approfondies or Diplôme d'études Supérieures Spécialisées: 15 out of 20

Bachelor degree with a Second Class Honours, Lower Division or overall GPA of 2.4 out of 5.

Visoko Obrazovanja with 7 out of 10 overall.

Bachelor degree GPA 2.6 to 2.8 depending on your institution.

Bachelor degree, Candidatus Magisterii, Sivilingeni-r (siv. ing.) (Engineering degree ) or Sivil?konom (siv. ?k.) (Economics degree) Grade D or 3.25 where 1 is the highest.

Bachelor degree with an overall GPA of 2.6/4

4 year Bachelor degree or combined bachelors degree and Master degree for the duration of 4 years with 58% - 65% or a CGPA of 2.8 - 3.2 overall depending on your institution.

Bachelor degree: GPA 3.0 out of 4.0, 80%, B

Licenciado/ Titulo: 70%

Bachelor Honours Degree: Class II, Division B

Titulo de Licenciado/ TItulo: 3.5/5

Grado Academico de Bachiller: 13/20

Bachelor degree (awarded from 2022): 2.5/4, or Masters degree: 2.5/5

Licencjat, Inzynier or Bachelor with grade 4 out of 5

Diploma de Estudos Superiores Especializadoswith grade 14 overall or Licenciado with grade 13 overall.

Bachelor degree: 70/100 or GPA 2.0 out of 4.0

Bachelor degree with an overall GPA of 2.8 overall.

Maitrise: 13/20

Diploma de Licenta, Diploma Inginer or Diploma de Arhitect with 7.0 out of 10 overall.

Bakalavr Bachelor degree or Specialist Diploma with 3.5 out of 5 or 70% overall.

Bachelor Honours Degree: 13/20

Bachelor degree when studied at University of South Pacific, Samoa: GPA 2.5

Licenciatura: 13/20

Bachelor degree with 65%, 3.25 out of 5.0 or 2.5 out of 4.0 overall.

Diplom Visokog Obrazovanja (second-level degree obtained on completion of a four to six-year course) with 7 out of 10 overall.

Bachelor Degree: Lower Second Class

Bachelors Degree (Honours): Lower Second Class

Bachelor degree (from a public university) with a Class II (lower) overall.

Bakalar or Magister / Inzinier with vel'mi dobre (very good) or Grade 2 overall.

Diplomirani / Diplomirani Inzenir from Visoko izobrazevanje, University Diploma or Visoko Obrazovanja (until 1999) with 7 out of 10 (8 for Visoko Obrazovanja) overall.

Bachelor degree when studied at University of South Pacific, Vanuatu: GPA 2.5

Bachelor (Honours), Bachelor or Professional Bachelor degree with 60% or Second Class Lower Division.

Bachelor (Haksa) degree with 3.0 out of 4.5, 2.9 out of 4.3 or 2.8 out of 4.0.

Bachelor Honours degree: 2.5/4.0 Division Two Lower

Licenciado, Titulo de Ingeniero or Titulo de Arquitecto with 6 out of 10.

Bachelor degree from The University of the West Indies: GPA 2.5 Second Class Honours, Lower Division

Bachelor Honours Degree: 60%

Bachelor degreee, Masters Degree, MO-B Akte Diploma: Met Genoegen (Good)

Bachelor degree: 70%

Bachelor degree from National University or Private University with 68% to 73% or GPA 2.8 to 3.0 depending on your institution.

Specialist Diploma: 3.5/5

Bachelor degree with a 2nd Class Honours (Lower) overall.

Bachelor degree GPA 2.4 to 2.6 depending on your institution.

Diplôme d'études supérieures, Diplôme d'études approfondies: 13/20

Bachelor or Masters degree from the University of the South Pacific: 70%/ B+

Bachelor degree (when accredited by the Accreditation Council of Trinidad and Tobago (ACTT)): Lower Second Class Honours

12 out of 20 (Assez Bien)

Bachelor degree GPA 2.6 to 2.8 depending on your institution.

Ýokary bilim hakynda şahadatnama: 3.5/5

Bachelor degree (accredited by the Council of Community Colleges of Jamaica)

Bachelor degree: Class II Lower/ Honours Lower/ 3.0-3.9/ B

Bachelor degree (post 2007) or Specialist Diploma (after 1991) with a Grade 3, 9 out of 12 or 3.5 out of 5 overall.

Bachelor degree with 80%, a GPA of 2.8 out of 4, C+ or Good overall.

Bachelor degree with a GPA of 2.6 overall.

Bachelor Honours Degree: GPA 2.5 or Second Class Honours, Lower Division

Titulo de Licenciado/Titulo: GPA 7/12

Diplomi: 70%

Kandidatexamen with at least a Pass (godkand) overall.

Bachelor degree when studied at University of South Pacific, Vanuatu: GPA 2.5

Titulo de Licenciado/Titulo: 70% or 11 from high ranking institution

Bachelor degree or Bang tot nghiep dai hoc with 6.5 out of 10.

Masters Degree: 63%

Masters Degree: 55%

60%-64%, Second Class Honours, Lower Division

English language requirements

IELTS: 6.5 overall. No subscore lower than 6.0.
Pearson Test of English: 67 overall. No other subscore lower than 64.
Trinity College London Integrated Skills in English (ISE): ISE III.
Cambridge English: Advanced (CAE) grade C.
TOEFL iBT: 88 overall with Reading 22 Listening 20 Speaking 22 Writing 24.
Duolingo: 120 overall and no sub-score below 115.

Your future career

On graduating with a Masters degree in Accounting and Financial Management you will be in a strong position to start a career in a variety of accounting, financial or commercial related areas. You will also have a solid foundation to continue PhD studies.

Our graduates have moved into roles in accounting and financial management-related areas including:

Personal Relationship Manager at HSBC
Auditor at Deloitte
Senior Risk Analyst at Bank of Azerbaijan
Corporate Tax at PwC

Fees, funding & scholarships

Home (UK) students tuition fee per year*: £18,600

EU and international students tuition fee per year**: £27,000

Other essential costs***: There are no single associated costs greater than £50 per item on this course.

How do I pay for it? Find out more about funding options, including loans, grants, scholarships and bursaries.

* and ** These tuition fees apply to students starting their course on a full-time basis in the academic year 2026/27. Students studying on the standard part-time course structure over two years are charged 50% of the full-time applicable fee for each study year.

Royal Holloway reserves the right to increase all postgraduate tuition fees annually. For further information, see fees and funding.

** These estimated costs relate to studying this particular degree at Royal Holloway during the 2026/27 academic year, and are included as a guide. Costs, such as accommodation, food, books and other learning materials and printing, have not been included.