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 2022 in Semester 1 and Semester 2 at Clayton. It has no prerequisites and unlocks 17 units, leading on to 34 units in all.
- Credit points
- 6
- Offered in 2022
- Semester 1, Semester 2
- Clayton
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2022 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
17 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
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- ACF2400Accounting information systemsNo reviews yet
- ACW2120Financial accounting 2No reviews yet
- ACW2220Management accounting 1No reviews yet
- ACW2420Accounting information systemsNo reviews yet
- ACX2100Financial accountingNo reviews yet
- ACX2200Introduction to management accountingNo reviews yet
- ACX2400Accounting information systemsNo reviews yet
- ACX2900Accounting for sustainabilityNo reviews yet
- ACX3300Predictive analytics in accountingNo reviews yet
Enrolment rules
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 is designed for you if you are 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. You will integrate theoretical and technical knowledge learned and exercise judgement to explore accounting issues.
Offerings in 2022
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| 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 approachProblem-based learning
- Teaching approachActive learning
- Teaching approachCase-based teaching
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 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.
This unit engages students in actively applying their knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes case-based teaching, where students apply their 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 students need to work together to examine, analyse and make decisions to resolve the situation.
Learning resources
Required resources
Carlon, S., McAlpine, R., Lee, C., Mitrione, L., Kirk, N., Wong, L. Financial Accounting: Reporting, Analysis and Decision Making - Conceptual Framework 2018 update custom edition.
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
ACC1100 is part of 4 areas of study in the 2022 handbook.
Contacts
- Chief Examiners
- Dr Christofer Adrian
- Ms Chenlan Song
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 17 units, including ACB2120, ACB2220, ACB2420, ACC2100, ACC2200 and ACC2400. Those lead on to 34 units in all.
When is ACC1100 offered?
In 2022, 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.