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Business School Teaching and Learning Accounting & Finance: Comparison between UK and China Mingzhu Wang March 2009.

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Presentation on theme: "Business School Teaching and Learning Accounting & Finance: Comparison between UK and China Mingzhu Wang March 2009."— Presentation transcript:

1 Business School Teaching and Learning Accounting & Finance: Comparison between UK and China Mingzhu Wang March 2009

2 2 Business School The UK is the second largest host of Chinese students studying abroad after the US. Each year, around 5000 Chinese students are studying in the UK universities. Accounting and finance seems to be one of Chinese students favourite choices in the UK. Differences in learning and teaching accounting and finance between the UK and China. Background

3 3 Business School Professional Education in the UK Professional education in accounting has a long history in the UK, which could be traced back to the initially in-house training in 18 th century. The Institute of Chartered Accountants of Scotland ( ICAS ) established in 1854, is the world's first professional body of accountants. The Institute of Chartered Accountants in England and Wales (ICAEW) is a world- class professional accountancy body. The Association of Chartered Certified Accountants (ACCA) is now a global body for professional accountants. Chartered Institute of Management Accountant (CIMA) established in 1919 has grown to become one of the largest international accountancy bodies. Universities provide accounting and finance programmes at both undergraduate and postgraduate levels, which give accreditation towards ACCA or CIMA.

4 4 Business School Professional Education in China Education in accounting and finance only progressed significantly in 1990s after the economic reform in China. Chinese Institute of Certified Public Accountant (CICPA) established in 1988 is the accounting professional body in China. CICPA is using US GAAP. Universities in China started to provide accounting and finance programs in 1990s. A few of them provide accreditation to ACCA. There has been a shortage of accounting and finance teachers with professional qualification or doctorates degree.

5 5 Business School Comparison in Degree Structure (1 year) UK (Oxford Brookes University) China (Sichuan University) BSc (Hons) Accounting and FinanceBSc AccountingBSc Finance Introduction to AccountingFundamental AccountingEconometrics Accounting in SocietyStatistics Foundations of BusinessFundamental Business Management Business Economics and Financial Markets Principles of Marxist Philosophy Essential Information SkillsApplied Computing Skills + 3 elective modules Any 1 st year module across the University including language College English + elective modules across the University College English + elective modules across the University

6 6 Business School Comparison in Degree Structure (2 year) UK (Oxford Brookes University)China (Sichuan University) BSc (Hons) Accounting and Finance BSc AccountingBSc Finance Management Accounting Accounting Financial Accounting and ReportingFinancial AccountingMonetary and Banking Corporate FinanceCost AccountingPublic Finance + 4 elective modules (Accounting information system Advanced Taxation Personal Taxation Auditing Practice Auditing Theory Financial Markets and Institutions & other business modules) Contemporary Issues in Global Political Economics International Economics College English + elective modules across the University College English + elective modules across the University

7 7 Business School Comparison in Degree Structure (3 year) UK (Oxford Brookes University) China (Sichuan University) BSc Accounting and FinanceBSc AccountingBSc Finance (Optional Work Placement Year)Financial ManagementCorporate Finance Financial ReportingInternational Finance AuditingCentral Banking MarketingCommercial Banking Management National Economy Management 2 nd Foreign Language + elective modules across the University 2 nd Foreign Language + elective modules across the University

8 8 Business School Comparison in Degree Structure (4 year) UK (Oxford Brookes University) China (Sichuan University) BSc Accounting and FinanceBSc AccountingBSc Finance Financial Accounting TheoryBudgetingInsurance Business Aspect of Management Accounting Business ManagementInvestment in Securities Contemporary Issues in FinanceInvestment Banking + 5 elective modules Dissertation Financial Accounting Synoptic Management Accounting Synoptic & other business modules Commercial Law Summer Internship Dissertation + elective modules across the University Dissertation + elective modules across the University

9 9 Business School Differences in the Degree Structure UK Combined degree (accounting and finance, accounting and business, etc.) Flexible structure with more elective modules Practical Orientated Elective dissertation China Separate degree (accounting, finance, etc.) Fixed structure (students can get the degree if they passed all the compulsory modules) Theoretic Orientated Compulsory dissertation

10 10 Business School Comparison in the Teaching Approach UK Combined (Lecture, seminar, workshop, etc.) Detailed module guide Broad reading list Used to praise students Questioning during lectures China Lecture dominated Brief outline of topics Focus on a particular text book (Proverb: A good text book is enough to learn a subject) Use to criticise students (Proverb: Praise will spoil students while criticism will improve them) Questioning after lectures

11 11 Business School Comparison in the Assessment UK Combined assessment (exam, project, presentation, etc.) Teamwork Critical thinking Plagiarism China Exam dominated Individual work Memorizing and reciting (Proverb: youll become a poet if you can recite 300 poems) Plagiarism is less strict in student essays, although it rules the same as in the UK for published papers or books.

12 12 Business School Comparison in the Student Learning UK Independent (modules choice) A variety of learning approaches Presenting International learning environment International students International staffs China Dependent (learning community) Strategic learning Silent reflecting (Proverb: half bottle of water makes louder noise) National learning environment Few international students Visiting international staffs only available for postgraduates.

13 13 Business School Major Problems Encountered by Chinese Students Independence Incompetence in English The problems Chinese students encounter in English speaking in the UK higher education settings have been studied by Chan and Drover (1997) and Valimaa (1998) Cultural conflict Relationship with teachers Way of thinking Chinese way of thinking British way of thinking

14 14 Business School What we can do as teachers? Be aware of the cultural difference Be aware of international students incompetence in English. Do not take it for granted that international students understand some basic terminologies used in our teaching. Differentiate deliberate plagiarism and the plagiarism caused by lack of confidence in English. Give international students some transition period to get used to the UK teaching. Encourage group discussions among international students who are used to reflect silently or shy to express their opinions.


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