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 2020 in Semester 1 and Semester 2 at Clayton. It has no prerequisites and unlocks 13 units, leading on to 29 units in all.
- Credit points
- 6
- Offered in 2020
- Semester 1, Semester 2
- Clayton
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ACC1100
Prohibitions
You can't enrol if you have passed any of these.
After ACC1100
13 units list ACC1100 as a prerequisite or corequisite.
- ACB2120Financial accounting 2No reviews yet
- ACB2220Management accounting 1No reviews yet
- ACB2420Accounting information systemsNo reviews yet
- ACC2100Financial accountingNo reviews yet
- ACC2200Introduction to management accountingNo reviews yet
- ACC2400Accounting information systemsNo reviews yet
- ACF2100Financial accountingNo reviews yet
- ACF2200Introduction to management accountingNo reviews yet
Equivalent units
The same content under another code. Only one of them counts.
Overview
This unit is designed for students undertaking the accounting major. It will provide an introduction to financial accounting guided by the Conceptual Framework and Accounting Standards. Emphasis is placed on accounting processes, practices and policies that enable financial statements to be prepared. Students will integrate theoretical and technical knowledge learned and exercise judgement to explore accounting issues.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| First semester (Fully flex) | Clayton | Flexible |
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment50%
- ExaminationThreshold hurdle50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
identify and analyse measurement systems and their relationship with the accounting Conceptual Framework
- 2
apply the principles of double-entry and accrual accounting
- 3
describe and apply definitions and recognition criteria for assets, liabilities, incomes and expenses as specified in the Conceptual Framework
- 4
apply principles of selected Accounting Standards and prepare financial statements for business entities including service and retail organisations
- 5
apply critical thinking, problem solving, and communication skills within corporate financial reporting topics.
Workload and teaching
- Lectures24 hours
- Tutorials18 hours
- Teaching approachOnline learning
- Teaching approachActive learning
- Teaching approachProblem-based learning
- Teaching approachPeer assisted 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.
Active discussions in tutorials
Learning resources
Required resources
Financial Accounting: Reporting, Analysis and Decision Making, 6th Edition (Custom edition ISBN: 9781119924548)
Where it fits
ACC1100 is part of 4 areas of study in the 2020 handbook.
Contacts
- Chief Examiners
- Mr John Gerrand
Common questions
What are the prerequisites for ACC1100?
ACC1100 has no prerequisites.
What can I take after ACC1100?
ACC1100 is a prerequisite or corequisite for 13 units, including ACB2120, ACB2220, ACB2420, ACC2100, ACC2200 and ACC2400. Those lead on to 29 units in all.
When is ACC1100 offered?
In 2020, 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 1 other task.
Which majors and minors include ACC1100?
ACC1100 is part of Accounting and Sustainability.