ACW1120 Financial accounting 1
Faculty of Business and Economics
ACW1120 Financial accounting 1 is a level 1, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2026 in Semester 1 and Semester 2 at Malaysia. It has no prerequisites and unlocks 13 units, leading on to 28 units in all.
- Credit points
- 6
- Offered in 2026
- Semester 1, Semester 2
- Malaysia
- Assessment
- Exam 50%
- and 2 other tasks
- Workload
- 144 hours
- per semester
This is the 2026 handbook entry. See the 2027 entry.
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Requisites
Before ACW1120
Prohibitions
You can't enrol if you have passed any of these.
After ACW1120
13 units list ACW1120 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 provides you with 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 2026
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Malaysia | On campus |
| Second semester | Malaysia | On campus |
Assessment
- Quiz / Test27%
- Exercise23%
- 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
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
apply critical thinking, problem solving, and communication skills within corporate financial reporting topics.
Workload and teaching
- Tutorials24 hours
- Teaching approachActive learning
- 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. 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 engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective 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.
Learning resources
Technology resources
Calculator
Where it fits
ACW1120 is part of 1 area of study in the 2026 handbook.
Contacts
- Chief Examiners
- Dr Mei Yee Lee
Common questions
What are the prerequisites for ACW1120?
ACW1120 has no prerequisites.
What can I take after ACW1120?
ACW1120 is a prerequisite or corequisite for 13 units, including ACB2120, ACB2220, ACB2420, ACC2100, ACC2200 and ACC2400. Those lead on to 28 units in all.
When is ACW1120 offered?
In 2026, ACW1120 runs in Semester 1 and Semester 2 at Malaysia.
How much work is ACW1120?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACW1120 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 2 other tasks.
Which majors and minors include ACW1120?
ACW1120 is part of Accountancy.