ACF1100 Introduction to financial accounting
Faculty of Business and Economics
ACF1100 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 Caulfield and City (Melbourne). 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
- Caulfield, City (Melbourne)
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2027 entry.
Reviews
No reviews yetNo reviews yet. Be the first to review ACF1100.
Requisites
Before ACF1100
Prohibitions
You can't enrol if you have passed any of these.
After ACF1100
13 units list ACF1100 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 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 the financial statements to be prepared. You will integrate theoretical and technical knowledge learned and exercise judgement to explore accounting issues.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| First semester (Fully flex) | Caulfield | Flexible |
| Second semester | Caulfield | On campus |
| November teaching period | Caulfield | On campus |
| Trimester A | City (Melbourne) | On campus |
| Trimester B | City (Melbourne) | On campus |
| Trimester C | City (Melbourne) | 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
develop the ability to work effectively in a team and demonstrate the development of skills in research, judgement and oral communication.
Workload and teaching
- Tutorials18 hours
- Workshops30 hours
- Workshops33 hours
- Lectures24 hours
- Teaching approachActive 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
City campus: Financial Accounting: Reporting, Analysis and Decision Making, 6th Edition (Custom edition ISBN: 9781119924548)
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
ACF1100 is part of 2 areas of study in the 2020 handbook.
Contacts
- Chief Examiners
- Mr John Gerrand
Common questions
What are the prerequisites for ACF1100?
ACF1100 has no prerequisites.
What can I take after ACF1100?
ACF1100 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 ACF1100 offered?
In 2020, ACF1100 runs in Semester 1 and Semester 2 at Caulfield and City (Melbourne).
How much work is ACF1100?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACF1100 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.
Which majors and minors include ACF1100?
ACF1100 is part of Accounting.