Faculty of Business and Economics

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Monash University

Monash University Handbook 2010 Undergraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

FacultyFaculty of Business and Economics
OfferedCaulfield First semester 2010 (Day)
Caulfield Second semester 2010 (Day)


This unit is concerned with developing a conceptual and practical accounting framework for financial reporting through the process of collecting, analysing, classifying, measuring, recording, presenting and interpreting financial information and developing financial reports for service and trading entities from both a manual and a computer-based system.


The learning goals associated with this unit are to:

  1. explain and discuss generally accepted accounting principles (GAAP), measurement systems and the accounting conceptual framework
  2. describe and apply definitions and recognition criteria for assets, liabilities, equities, expenses and income as specified in the conceptual framework
  3. prepare financial statements for accounting entities including service and retail organisations using generally accepted accounting principles
  4. apply principles of selected accounting standards
  5. apply critical thinking, problem solving and procedures to individual and/or group activities dealing with financial accounting, and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFF1121.


Within semester assessment: 40%
Examination (3 hours): 60%

Chief examiner(s)

Christine Contessotto

Contact hours

One 2-hour lecture and one 1-hour tutorial per week


AFF1000 or AFF1110


AFC1030, AFW1002