UnitLevel 1Undergraduate

ACF1001 Accounting fundamentals

Faculty of Business and Economics

ACF1001 Accounting fundamentals is a level 1, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2025 in Semester 1 and Semester 2 at Caulfield. It has no prerequisites and unlocks 9 units, leading on to 15 units in all.

Credit points: 6
Offered in 2025: Semester 1, Semester 2; Caulfield
Assessment: Exam 100%; and 4 other tasks
Workload: 144 hours; per semester

This is the 2025 handbook entry. See the 2027 entry.

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Requisites

Before ACF1001

Prohibitions

You can't enrol if you have passed any of these.

One of

After ACF1001

9 units list ACF1001 as a prerequisite or corequisite.

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Enrolment rules

If you are enrolled in course B2029, B2040 or 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. 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 basic accounting concepts to non-accountants. The information requirements of two main groups of information users are examined - external users such as current and potential investors and internal users such as managers. This unit provides an introduction to the structure, meaning, analysis and interpretation of financial statements, in addition to exploring financial issues confronting managers, such as cost and performance measurement and budgeting.

Offerings in 2025

Teaching period	Campus	Mode
First semester	Caulfield	On campus
Second semester	Caulfield	On campus

Assessment

Within semester assessment
50%
ExaminationThreshold hurdle
50%
Project
20%
Exercise
20%
Presentation
10%
ExaminationThreshold hurdle
50%

Learning outcomes

When you finish this unit, you should be able to:

1
demonstrate an understanding of various forms of business organisation
2
apply financial and management accounting principles in the interpretation of financial statements
3
measure and interpret information relating to financial performance, financial position, liquidity and risk indicators of businesses
4
measure and interpret financial and non-financial information for managers to use in planning, decision making and control
5
develop the ability to work effectively in a team and demonstrate the development of judgement, and skills in problem solving, critical thinking and analysis.

Workload and teaching

Lectures12 hours
Tutorials24 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. 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 engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.

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

Accounting for Managers (Custom Text), 2nd edition

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.

Contacts

Chief Examiners: Mr Tirukumar Thiagarajah; Ms Tao Tao

Common questions

What are the prerequisites for ACF1001?

ACF1001 has no prerequisites, but enrolment rules apply.

What can I take after ACF1001?

ACF1001 is a prerequisite or corequisite for 9 units, including ACB2220, ACB2420, ACC2200, ACC2400, ACF2200 and ACF2400. Those lead on to 15 units in all.

When is ACF1001 offered?

In 2025, ACF1001 runs in Semester 1 and Semester 2 at Caulfield.

How much work is ACF1001?

The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.

Does ACF1001 have an exam?

Yes. The exam is worth 100% of the final mark, alongside 5 other tasks.

More details

Credit points: 6
Level: 1
Study level: Undergraduate
Faculty: Faculty of Business and Economics
Organisational unit: Department of Accounting

Type: Coursework
EFTSL: 0.125
Student contribution: SCA Band 4
Study abroad: Available
Handbook years: 202420252026 2027