ACB2120 Financial accounting 2
Faculty of Business and Economics
ACB2120 Financial accounting 2 is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2027 in Semester 1 at Peninsula. It needs ACB1120, ACC1100, ACF1100, ACW1120 or ACX1100 and unlocks 11 units.
- Credit points
- 6
- Offered in 2027
- Semester 1
- Peninsula
- Assessment
- Exam 50%
- and 2 other tasks
- Workload
- 144 hours
- per semester
Reviews
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Requisites
Before ACB2120
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ACB2120
11 units list ACB2120 as a prerequisite or corequisite.
- ACB3120Financial accounting 3No reviews yet
- ACB3620 Assurance and audit servicesNo reviews yet
- ACC3100Advanced financial accountingNo reviews yet
- ACC3600Auditing and assuranceNo reviews yet
- ACF3100Advanced financial accountingNo reviews yet
- ACF3600Auditing and assuranceNo reviews yet
- ACW3120Financial accounting 3No reviews yet
- ACW3620Assurance and audit servicesNo 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 examines the current Australian reporting and regulatory framework for reporting entities. It covers key accounting standards and reporting requirements, including financial reporting issues related to business combinations, taxation, asset revaluation and impairment, consolidated financial statements, business ethics, and sustainability reporting.
Offerings in 2027
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Peninsula | On campus |
Assessment
- Exercise30%
- Written20%
- Examination50%
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Learning outcomes
When you finish this unit, you should be able to:
- 1
apply financial accounting principles, professional judgment and regulatory standards in the preparation and interpretation of general-purpose financial statements
- 2
exercise critical thinking and problem-solving skills in addressing complex financial reporting issues, including non-current asset revaluation and impairment, accounting for income tax, and group structures and investments in other entities
- 3
practice effective communication skills with clarity and professionalism when analysing and presenting financial information to diverse stakeholders
- 4
evaluate sustainability, social, and environmental reporting frameworks that promote transparency, accountability, and responsible business practices in financial reporting
- 5
exercise an inclusive mindset that embeds equity, diversity, and inclusion in business practices by incorporating differing perspectives, skills, and abilities in financial accounting contexts.
Workload and teaching
- Lectures12 hours
- Tutorials24 hours
- Teaching approachActive learning
- Teaching approachCase-based teaching
- 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 case-based teaching, where you apply your knowledge and engage in analytical and reflective thinking to solve complex contextual scenarios. Activities are often designed so that there is not one clear answer, but you need to work together to examine, analyse and make decisions to resolve the situation.
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
Loftus, J., Daniliuc, S., Leo, K., Hanlon, D., Meng, L., Luke, B., Bradbury, M., Ang, H.N. and Hazelton, J., (2025). Financial Reporting, 5th Edition. Wiley.
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.
Where it fits
ACB2120 is part of 2 areas of study in the 2027 handbook.
Contacts
- Chief Examiners
- Dr Shala Navissi
Common questions
What are the prerequisites for ACB2120?
You need ACB1120, ACC1100, ACF1100, ACW1120 or ACX1100 before you enrol. Enrolment rules also apply.
What can I take after ACB2120?
ACB2120 is a prerequisite or corequisite for 11 units, including ACB3120, ACB3620, ACC3100, ACC3600, ACF3100 and ACF3600.
When is ACB2120 offered?
In 2027, ACB2120 runs in Semester 1 at Peninsula.
How much work is ACB2120?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACB2120 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 2 other tasks.
Which majors and minors include ACB2120?
ACB2120 is part of Accountancy.