ACF2100 Financial accounting
Faculty of Business and Economics
ACF2100 Financial accounting is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 and Semester 2 at Caulfield. It needs ACW1120, ACB1120, ACX1100, ACC1100 or ACF1100 and unlocks 11 units, leading on to 12 units in all.
- Credit points
- 6
- Offered in 2023
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 40%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ACF2100
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ACF2100
11 units list ACF2100 as a prerequisite or corequisite.
- ACB3120Financial accounting 3No reviews yet
- ACB3620 Assurance and audit servicesNo reviews yet
- ACC3100Advanced financial accountingNo reviews yet
- ACC3600Auditing and assuranceNo reviews yet
- ACF3100Advanced financial accountingNo reviews yet
- ACF3600Auditing and assuranceNo reviews yet
- ACW3120Financial accounting 3No reviews yet
- ACW3620Assurance and audit servicesNo 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 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 provides an overview of the current Australian reporting and regulatory framework applicable to reporting entities including an analysis of significant accounting standards, the conceptual framework, and professional reporting requirements. Financial reporting issues associated with corporate structures such as company operations, taxation, property, plant, equipment and consolidated accounting are examined.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| Second semester | Caulfield | On campus |
Assessment
- Within semester assessment60%
- Examination40%
Learning outcomes
When you finish this unit, you should be able to:
- 1
explain the regulation of companies and the content of company financial reports
- 2
critically examine contemporary issues including sustainability in company reporting
- 3
apply accounting policies and regulatory requirements in the preparations and presentation of company reports
- 4
demonstrate the ability to interpret company reports and communicate effectively accounting advice
- 5
apply critical thinking, research, problem solving, communication skills to demonstrate accounting knowledge for the topics covered by this unit.
Workload and teaching
- Lectures12 hours
- Tutorials24 hours
- Teaching approachProblem-based learning
- 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. 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 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 engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
Loftus, J., Leo, K., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Knapp, J., Boys, N., Byrnes, K. (2022). Financial Reporting, 4th Edition. Wiley.
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
ACF2100 is part of 2 areas of study in the 2023 handbook.
Contacts
- Chief Examiners
- Dr Lisa Powell
- Ms Jenny Guan
Common questions
What are the prerequisites for ACF2100?
You need ACW1120, ACB1120, ACX1100, ACC1100 or ACF1100 before you enrol. Enrolment rules also apply.
What can I take after ACF2100?
ACF2100 is a prerequisite or corequisite for 11 units, including ACB3120, ACB3620, ACC3100, ACC3600, ACF3100 and ACF3600. Those lead on to 12 units in all.
When is ACF2100 offered?
In 2023, ACF2100 runs in Semester 1 and Semester 2 at Caulfield.
How much work is ACF2100?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACF2100 have an exam?
Yes. The exam is worth 40% of the final mark, alongside 1 other task.
Which majors and minors include ACF2100?
ACF2100 is part of Accounting.