ACF5950 Introduction to financial accounting
Faculty of Business and Economics
ACF5950 Introduction to financial accounting is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2027 in Semester 1 and Semester 2 at Caulfield. It has no prerequisites and unlocks 5 units, leading on to 12 units in all.
- Credit points
- 6
- Offered in 2027
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 50%
- and 2 other tasks
- Workload
- 144 hours
- per semester
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Requisites
Before ACF5950
No prerequisites or corequisites besides the enrolment rules below.
After ACF5950
5 units list ACF5950 as a prerequisite or corequisite.
Enrolment rules
If you are enrolled in course B6002, B6038, B6046 or B6053 you cannot undertake this unit.
Overview
This unit provides you with an introduction to accounting and an understanding of the preparation, presentation and interpretation of financial statements. In particular, emphasis is placed on accounting processes, practices and policies that enable the financial performance and financial position of an entity, as displayed by the balance sheet, income statement and statement of cash flows, to be measured, analysed and interpreted.
Offerings in 2027
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| Second semester | Caulfield | On campus |
Assessment
- Quiz / Test10%
- Project40%
- Examination50%
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Learning outcomes
When you finish this unit, you should be able to:
- 1
describe and apply the definition and recognition criteria for assets, liabilities, income and expenses as specified in the conceptual framework
- 2
apply the principles of double-entry accounting and appraise the relative merits of accrual and cash accounting
- 3
analyse and record accounting transactions throughout the accounting cycle, and prepare financial statements consistent with accounting standards
- 4
demonstrate effective technical skills to construct accounting records and financial statements using an accounting information system
- 5
apply principles of selected accounting standards for service and retail organisations
- 6
critically evaluate an entity's financial position and performance utilising financial statement analysis.
Workload and teaching
- Lectures12 hours
- Tutorials24 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. 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 engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
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.
Learning resources
Required resources
Trotman et al. (2022) Fundamentals of Accounting and Financial Management, 8th 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
- Ms Chenlan Song
- Shruti Verma
Common questions
What are the prerequisites for ACF5950?
ACF5950 has no prerequisites, but enrolment rules apply.
What can I take after ACF5950?
ACF5950 is a prerequisite or corequisite for 5 units, including ACF5120, ACF5130, ACF5904, ACF5953 and ACF5955. Those lead on to 12 units in all.
When is ACF5950 offered?
In 2027, ACF5950 runs in Semester 1 and Semester 2 at Caulfield.
How much work is ACF5950?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACF5950 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 2 other tasks.