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UnitLevel 1Undergraduate

ACF1100 Introduction to financial accounting

Faculty of Business and Economics

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ACF1100 Introduction to financial accounting 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 17 units, leading on to 32 units in all.

Credit points
6
Offered in 2025
Semester 1, Semester 2
Caulfield
Assessment
Exam 100%
and 3 other tasks
Workload
144 hours
per semester

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

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Requisites

Before ACF1100

Prohibitions

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

One of

After ACF1100

17 units list ACF1100 as a prerequisite or corequisite.

Show 9 more

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 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 2025

Teaching periodCampusMode
First semesterCaulfieldOn campus
Second semesterCaulfieldOn campus

Assessment

  • Within semester assessment
    50%
  • Examination
    50%
  • Exercise
    24%
  • Project
    26%
  • Examination
    50%

Learning outcomes

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

  1. 1

    identify and analyse measurement systems and their relationship with the accounting Conceptual Framework

  2. 2

    apply the principles of double-entry and accrual accounting

  3. 3

    describe and apply definitions and recognition criteria for assets, liabilities, incomes and expenses as specified in the Conceptual Framework

  4. 4

    apply principles of selected Accounting Standards and prepare financial statements for business entities including service and retail organisations

  5. 5

    apply critical thinking, problem solving, and communication skills within corporate financial reporting topics.

Workload and teaching

  • Lectures12 hours
  • Tutorials24 hours
  • Teaching approachProblem-based learning
  • Teaching approachCase-based teaching
  • 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 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 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 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

ACF1100 is part of 2 areas of study in the 2025 handbook.

Contacts

Chief Examiners
Dr Ellinor Allen
Dr Shala Navissi

Common questions

What are the prerequisites for ACF1100?

ACF1100 has no prerequisites, but enrolment rules apply.

What can I take after ACF1100?

ACF1100 is a prerequisite or corequisite for 17 units, including ACB2120, ACB2220, ACB2420, ACC2100, ACC2200 and ACC2400. Those lead on to 32 units in all.

When is ACF1100 offered?

In 2025, ACF1100 runs in Semester 1 and Semester 2 at Caulfield.

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 100% of the final mark, alongside 4 other tasks.

Which majors and minors include ACF1100?

ACF1100 is part of Accounting.

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
20202021202220232024202520262027