Fundamental Case Study

This unit brings together the technical knowledge and professional skills developed across earlier study in financial and management accounting, assurance and ethics/sustainability. Working with business scenarios, students practise analysing and evaluating information, prioritising issues, exercising professional judgement and communicating clear, practical recommendations in writing. Assessment is by a timed, paper-based, open-book examination based on pre-seen business information.  

The unit aims to:

• Extend students’ core knowledge of financial and management accounting, assurance, ethics and sustainability by applying it to business scenarios;
• Support students in analysing and evaluating complex financial and non-financial information, structuring business problems and proposing evidence-based solutions;
• Foster professional judgement, scepticism and ethical awareness when interpreting information, forming conclusions and making recommendations in an accounting and business context; and
• Provide structured opportunities for students to practise written communication, planning and prioritisation skills in preparation for complex, time-pressured professional and organisational contexts. 

The unit focuses on applying and integrating prior learning from:

• Financial reporting – interpreting and using financial statements and related external reporting information in business situations.
• Management accounting and performance – analysing performance, costs and resource use, and evaluating alternative courses of action.
• Assurance and risk – considering the reliability of information, key business risks and the role of assurance and internal control in supporting decision making.
• Ethics, sustainability and the regulatory environment – evaluating the ethical, sustainability, governance and public-interest implications of business decisions and recommendations.

Teaching is delivered through scheduled contact time and guided independent study. There are 40 hours of scheduled contact time and 160 hours of independent study (200 hours in total for a 20-credit unit).

Pre-seen materials are issued at the beginning of the course and form a central focus for teaching and learning. Students are expected to review and analyse the pre-seen individually, then use scheduled sessions to test their understanding, explore key issues, practise analytical techniques and discuss alternative courses of action.

Scheduled contact time is organised as follows:  

• Lectures: 10 x 2 hours in Semester 1 and 4 x 2-hour lectures in Semester 2 (28 hours in total).
• Workshops: 4 x 2-hours Semester 1 and 2 x 2-hour workshops in Semester 2 (12 hours in total).

Workshops are used to introduce and practise relevant techniques and to clarify expectations for the summative paper-based, open-book examination. These sessions are synchronous and on campus.

Teaching makes substantial use of the ICAEW Fundamental Case Study workbook and question bank. Independent study focuses on engagement with these materials, revisiting prior technical content, preparing analyses of the pre-seen, organising notes for use in the open-book examination and writing practice responses.

Asynchronous e-learning is provided via the virtual learning environment (VLE) in the form of case materials, readings and guided exercises.

Teaching includes a full mock examination, sat under timed, open-book conditions, using similar materials and requirements to the final assessment. The mock is built into scheduled contact time and followed by generic cohort feedback and discussion via the VLE. It is used to help students practise planning, time management and written communication in an exam setting; it does not contribute to the formal assessment for the unit. 

• Integrate concepts from financial accounting, management accounting, assurance, ethics and sustainability when analysing business scenarios.
• Analyse how financial and non-financial information inform business judgements and recommendations.

• Prioritise relevant information in business scenarios applying professional scepticism.
• Evaluate alternative courses of action in business scenarios to reach balanced, well-reasoned conclusions.

• Apply quantitative and qualitative techniques, using basic digital tools where appropriate when preparing analyses.
• Produce logically structured written responses in professional formats (such as memos, reports or briefing notes) that are appropriate for the intended recipient.

• Identify ethical and professional issues, including the potential impact of recommendations on stakeholders and on public trust in accounting and business. 

Individual marks. Feedback on scripts. Cohort feedback via the VLE within University timescales.

ICAEW Fundamental Case Study (or equivalent) materials including the official case, question bank and workbook. 

Students are required to achieve at least 55% in this unit to obtain ICAEW accreditation for the equivalent paper; the University pass mark remains 40%. Students who achieve a mark of 40–54% will pass the unit for academic purposes but will be required to resit for ICAEW accreditation purposes. The marking scheme and standards for this unit are subject to oversight by an ICAEW-appointed examiner and an external examiner as part of the accreditation arrangement. This unit is sat in the third year of study (not the final (fourth) year), and reassessment, if necessary, is required as part of PSRB requirements.