ACB2120 Financial accounting 2
Faculty of Business and Economics
ACB2120 Financial accounting 2 is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 at Peninsula. It needs ACB1120, ACW1120, ACX1100, ACC1100 or ACF1100 and unlocks 11 units, leading on to 12 units in all.
- Credit points
- 6
- Offered in 2023
- Semester 1
- Peninsula
- Assessment
- Exam 40%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
Reviews
No reviews yetNo reviews yet. Be the first to review ACB2120.
Requisites
Before ACB2120
Prohibitions
You can't enrol if you have passed any of these.
Prerequisites
Pass these before you enrol.
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 provides an overview of the current Australian reporting and regulatory framework applicable to reporting entities including an analysis of significant accounting standards, the conceptual framework, and professional reporting requirements. Financial reporting issues associated with corporate structures such as company operations, taxation, property, plant, equipment and consolidated accounting are examined.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Peninsula | On campus |
Assessment
- Within semester assessment60%
- Examination40%
Learning outcomes
When you finish this unit, you should be able to:
- 1
explain the regulation of companies and the content of company financial reports
- 2
critically examine contemporary issues including sustainability in company reporting
- 3
apply accounting policies and regulatory requirements in the preparations and presentation of company reports
- 4
demonstrate the ability to interpret company reports and communicate effectively accounting advice
- 5
apply critical thinking, research, problem solving, communication skills to demonstrate accounting knowledge for the topics covered by this unit.
Workload and teaching
- Lectures12 hours
- Tutorials24 hours
- Teaching approachActive learning
- Teaching approachEnquiry-based 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. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit engages you in enquiry-based learning, where you will be encouraged to use your own knowledge to develop and engage in a process of enquiry, study and research to identify areas to be investigated and an approach to doing so.
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., Leo, K., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Knapp, J., Boys, N., Byrnes, K. (2022). Financial Reporting, 4th 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 2023 handbook.
Contacts
- Chief Examiners
- Dr Lisa Powell
Common questions
What are the prerequisites for ACB2120?
You need ACB1120, ACW1120, ACX1100, ACC1100 or ACF1100 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. Those lead on to 12 units in all.
When is ACB2120 offered?
In 2023, 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 40% of the final mark, alongside 1 other task.
Which majors and minors include ACB2120?
ACB2120 is part of Accountancy.