ACX1100 Introduction to financial accounting
Faculty of Business and Economics
ACX1100 Introduction to financial accounting is a level 1, 6-credit-point, undergraduate unit from the Faculty of Business and Economics. It isn't offered in 2023. It has no prerequisites and unlocks 13 units, leading on to 29 units in all.
- Credit points
- 6
- Offered in 2023
- Not offered
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2025 entry.
Reviews
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Requisites
Before ACX1100
Prohibitions
You can't enrol if you have passed any of these.
After ACX1100
13 units list ACX1100 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 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 2023
The 2023 handbook lists no offerings for ACX1100.
Assessment
- Within semester assessment50%
- Examination50%
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
- Tutorials18 hours
- Lectures24 hours
- Teaching approachCase-based teaching
- 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 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 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
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
ACX1100 is part of 5 areas of study in the 2023 handbook.
Common questions
What are the prerequisites for ACX1100?
ACX1100 has no prerequisites.
What can I take after ACX1100?
ACX1100 is a prerequisite or corequisite for 13 units, including ACB2120, ACB2220, ACB2420, ACC2100, ACC2200 and ACC2400. Those lead on to 29 units in all.
When is ACX1100 offered?
ACX1100 has no offerings listed in the 2023 handbook.
How much work is ACX1100?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACX1100 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.
Which majors and minors include ACX1100?
ACX1100 is part of Accountancy, Accounting and Sustainability.