Faculty of Business and Economics

Monash University

Undergraduate - Unit

This unit entry is for students who completed this unit in 2012 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered, or view unit timetables.

FacultyFaculty of Business and Economics
OfferedClayton First semester 2012 (Day)
Sunway First semester 2012 (Day)
Clayton Second semester 2012 (Day)


The unit deals with accounting problems associated with the creation and operation of corporate structures. Topics include financial reporting requirements including an analysis of significant accounting standards; financing company operations; the nature of company groups; the preparation of consolidated financial reports; equity accounting; accounting for interests in joint ventures and liquidation of companies.


The learning goals associated with this unit are to:

  1. prepare group financial reports
  2. demonstrate accounting knowledge in areas such as business combinations, consolidations, equity accounting, joint arrangements, accounting for income tax, cash flow statements and liquidation of companies
  3. apply critical thinking, problem solving and presentation skills 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 AFC2120.


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

Chief examiner(s)

Mr Kimball Wyatt

Contact hours

3 hours per week


Students must have passed AFC1000 and AFC1030 before undertaking this unit.


AFF2491, AFG2491, AFW2491