ACB3120 Financial accounting 3
Faculty of Business and Economics
ACB3120 Financial accounting 3 is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2022 in Semester 2 at Peninsula. It needs ACB2120, ACX2100, ACC2100, ACF2100 or ACW2120.
- Credit points
- 6
- Offered in 2022
- Semester 2
- Peninsula
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2022 handbook entry. See the 2027 entry.
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Requisites
Before ACB3120
Prohibitions
You can't enrol if you have passed any of these.
After ACB3120
No unit lists ACB3120 as a prerequisite in the 2022 handbook.
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
Financial accounting topics covered by this unit include: Australian accounting standards, institutional setting and the conceptual framework; accounting for leases; accounting for employee benefits; accounting for financial instruments; cash flow reporting; segment reporting; accounting for EPS; accounting for extractive industries; accounting for agriculture; financial reporting in the public sector; foreign currency translation; and social and environmental reporting.
Offerings in 2022
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Peninsula | On campus |
Assessment
- Within semester assessment50%
- ExaminationThreshold hurdle50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
acquire advanced knowledge of the conceptual framework and disclosure requirements in accordance with the accounting standards and the statutory laws
- 2
develop an improved understanding of how professional policies are formulated in preparation of accounting for various financial accounting issues with particular reference to current practice
- 3
develop critical skills in written communication and problem analysis through the completion of comprehensive assignment exercise and /or essays
- 4
develop an ability to work independently and to participate in group discussions with participants from diverse backgrounds
- 5
demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by ACB3120.
Workload and teaching
- Tutorials18 hours
- Lectures18 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. 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 students in actively applying their knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes problem-based learning approaches, where students 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
Deegen, C., Financial Accounting, 9th edn. McGraw Hill.
Technology resources
The only Faculty approved calculators permitted in tests and examinations for all Australian campuses and locations is the HP10bII+ or Casio FX82 (any suffix).
Where it fits
ACB3120 is part of 2 areas of study in the 2022 handbook.
Contacts
- Chief Examiners
- Dr Mahendra Goyal
Common questions
What are the prerequisites for ACB3120?
You need ACB2120, ACX2100, ACC2100, ACF2100 or ACW2120 before you enrol. Enrolment rules also apply.
When is ACB3120 offered?
In 2022, ACB3120 runs in Semester 2 at Peninsula.
How much work is ACB3120?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACB3120 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.
Which majors and minors include ACB3120?
ACB3120 is part of Accountancy.