ACB1020 Accounting in business
Faculty of Business and Economics
ACB1020 Accounting in business is a level 1, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2025 in Semester 1 at Peninsula. It has no prerequisites and unlocks 10 units, leading on to 16 units in all.
- Credit points
- 6
- Offered in 2025
- Semester 1
- Peninsula
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2025 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ACB1020
Prohibitions
You can't enrol if you have passed any of these.
- ACB1120Financial accounting 1No reviews yet
- ACF1001Accounting fundamentalsNo reviews yet
- ACX1200Accounting for managersNo reviews yet
- ACC1100Introduction to financial accountingNo reviews yet
- ACW1020Accounting in businessNo reviews yet
- ACX1001Accounting fundamentalsNo reviews yet
- ACC1001Accounting fundamentalsNo reviews yet
- ACW1120Financial accounting 1No reviews yet
- ACF1100Introduction to financial accountingNo reviews yet
- ACX1100Introduction to financial accountingNo reviews yet
After ACB1020
10 units list ACB1020 as a prerequisite or corequisite.
- ACB2220Management accounting 1No reviews yet
- ACB2420Accounting information systemsNo reviews yet
- ACC2200Introduction to management accountingNo reviews yet
- ACC2400Accounting information systemsNo reviews yet
- ACF2200Introduction to management accountingNo reviews yet
- ACF2400Accounting information systemsNo reviews yet
- ACX2200Introduction to management accountingNo reviews yet
- ACX2400Accounting information systemsNo reviews yet
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 11 level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.
Equivalent units
The same content under another code. Only one of them counts.
Overview
This unit introduces basic accounting concepts to non-accountants. The information requirements of two main groups of information users are examined - external users such as current and potential investors and internal users such as managers. This unit provides an introduction to the structure, meaning, analysis and interpretation of financial statements, in addition to exploring financial issues confronting managers, such as cost and performance measurement and budgeting.
Offerings in 2025
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Peninsula | On campus |
Assessment
- Within semester assessment50%
- Examination50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
demonstrate an understanding of various forms of business organisations
- 2
apply financial and management accounting principles in the preparation of financial statements
- 3
measure and interpret information relating to financial performance, financial position, liquidity and risk indicators of businesses
- 4
measure and interpret financial and non-financial information for managers to use in planning, decision making and control
- 5
develop the ability to work effectively in a team and/or independently and demonstrate the development of judgement, and skills in problem solving, critical thinking and analysis.
Workload and teaching
- Lectures12 hours
- Seminars6 hours
- Tutorials24 hours
- Teaching approachActive learning
- Teaching approachProblem-based learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
Learning resources
Required resources
Accounting: Business reporting for decision making (7th Edition) by Birt, Chalmers, Maloney, Brooks, Oliver and Bond. Publisher: Wiley (2020).
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Contacts
- Chief Examiners
- Ms Tao Tao
Common questions
What are the prerequisites for ACB1020?
ACB1020 has no prerequisites, but enrolment rules apply.
What can I take after ACB1020?
ACB1020 is a prerequisite or corequisite for 10 units, including ACB2220, ACB2420, ACC2200, ACC2400, ACF2200 and ACF2400. Those lead on to 16 units in all.
When is ACB1020 offered?
In 2025, ACB1020 runs in Semester 1 at Peninsula.
How much work is ACB1020?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACB1020 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.