ACF5953 Financial accounting
Faculty of Business and Economics
ACF5953 Financial accounting is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2022 in Semester 1 and Semester 2 at Caulfield. It needs ACF5950 and unlocks 2 units, leading on to 5 units in all.
- Credit points
- 6
- Offered in 2022
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2022 handbook entry. See the 2027 entry.
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Requisites
Before ACF5953
Prerequisites
Pass these before you enrol.
After ACF5953
2 units list ACF5953 as a prerequisite or corequisite.
Enrolment rules
If you are enrolled in course B6002 you are prohibited from undertaking this unit.
Overview
An overview of the Australian financial reporting and regulatory framework for reporting entities, including an analysis of the relevant significant accounting standards, benchmarking against the conceptual framework, professional reporting requirements and stock exchange requirements. Financial reporting for corporate groups (including the impact of control, joint control and significant influence) and selected issues in financial reporting are also explored and benchmarked against the conceptual framework.
Offerings in 2022
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| Second semester | Caulfield | Evening |
| Second semester | Caulfield | On campus |
Assessment
- Within semester assessment50%
- ExaminationThreshold hurdle50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
describe and compare the regulatory requirements, domestic and international, associated with the preparation of general purpose financial statement for companies
- 2
apply and critique the accounting rules for entities' investments in other entities, and apply these rules to prepare consolidated financial statements
- 3
analyse a number of measurement and financial reporting issues and their possible resolution, including: accounting for income tax, post-acquisition accounting for assets, and business combinations
- 4
develop capabilities to work effectively in a group to produce professional quality research reports; effective individual technical skills to construct consolidated financial statements; and demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered by the unit.
Workload and teaching
- Tutorials18 hours
- Lectures18 hours
- Teaching approachActive learning
- Teaching approachCase-based teaching
- 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. 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 engages students in actively applying their knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes case-based teaching, where students apply their 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 students need to work together to examine, analyse and make decisions to resolve the situation.
This unit includes problem-based learning approaches, where students 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
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).
Contacts
- Chief Examiners
- Dr Wei Lu
- Dr Ahmed Abdalla
Common questions
What are the prerequisites for ACF5953?
You need ACF5950 before you enrol. Enrolment rules also apply.
What can I take after ACF5953?
ACF5953 is a prerequisite or corequisite for 2 units, including ACF5956 and ACF5957. Those lead on to 5 units in all.
When is ACF5953 offered?
In 2022, ACF5953 runs in Semester 1 and Semester 2 at Caulfield.
How much work is ACF5953?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACF5953 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.