ACC1100 Introduction to financial accounting
Faculty of Business and Economics
ACC1100 Introduction to financial accounting is a level 1, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2027 in Semester 1 and Semester 2 at Clayton. It has no prerequisites and unlocks 15 units, leading on to 30 units in all.
- Credit points
- 6
- Offered in 2027
- Semester 1, Semester 2
- Clayton
- Assessment
- Exam 50%
- and 2 other tasks
- Workload
- 144 hours
- per semester
Reviews
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Requisites
Before ACC1100
Prohibitions
You can't enrol if you have passed any of these.
After ACC1100
15 units list ACC1100 as a prerequisite or corequisite.
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Enrolment rules
If you are enrolled in course B2007 you cannot undertake this unit.
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher 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 you to fundamental accounting concepts and rules to provide a foundation for further study within the accounting discipline. Emphasis is placed on developing meaningful understanding of both accounting terminology and technical rules for recording, guided by the Conceptual Framework and selected Accounting Standards. Applying this knowledge along with critical thinking skills will facilitate evidence-based decision-making using accounting data, and the preparation and interpretation of financial statements.
Offerings in 2027
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| Second semester | Clayton | On campus |
Assessment
- Exercise24%
- Project26%
- 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
explain fundamental accounting concepts and rules by justifying how and why economic transactions are recorded in accounting systems
- 2
apply the Conceptual Framework and selected Accounting Standards to record transactions and prepare basic financial statements
- 3
interpret accounting data to derive and communicate meaningful and relevant business insights
- 4
collaborate effectively in team-based accounting tasks to contribute disciplinary knowledge and support collective problem solving
- 5
analyse accounting data to identify issues and support reasoned conclusions in business contexts.
Workload and teaching
- Lectures12 hours
- Tutorials24 hours
- Teaching approachCase-based teaching
- Teaching approachProblem-based learning
- Teaching approachActive 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 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.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
Carlon, Shirley. Financial Accounting: Reporting, Analysis and Decision Making, 7th Edition, John Wiley & Sons, Incorporated, 2021. ProQuest Ebook Central, https://ebookcentral.proquest.com/lib/monash/detail.action?docID=6729410.
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
ACC1100 is part of 2 areas of study in the 2027 handbook.
Contacts
- Chief Examiners
- Dr Ellinor Allen
Common questions
What are the prerequisites for ACC1100?
ACC1100 has no prerequisites, but enrolment rules apply.
What can I take after ACC1100?
ACC1100 is a prerequisite or corequisite for 15 units, including ACB2120, ACB2220, ACB2420, ACC2100, ACC2200 and ACC2400. Those lead on to 30 units in all.
When is ACC1100 offered?
In 2027, ACC1100 runs in Semester 1 and Semester 2 at Clayton.
How much work is ACC1100?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACC1100 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 2 other tasks.
Which majors and minors include ACC1100?
ACC1100 is part of Accounting.