ACF1100 - Introduction to financial accounting - 2019

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

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


Business and Economics

Organisational Unit

Department of Accounting

Chief examiner(s)

Mr John Gerrand (First semester, City)
Dr Christofer Adrian (Second semester)


Mr John Gerrand (Caulfield, City)

Unit guides



  • First semester 2019 (On-campus)
  • Second semester 2019 (On-campus)

City (Melbourne)

  • Trimester A 2019 (On-campus)
  • Trimester B 2019 (On-campus)
  • Trimester C 2019 (On-campus)




This unit is designed for students 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 the financial statements to be prepared. Students will integrate theoretical and technical knowledge learned and exercise judgement to explore accounting issues.


The learning goals associated with this unit are 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. develop the ability to work effectively in a team and demonstrate the development of skills in research, judgement and oral communication.


Within semester assessment: 50% + Examination: 50%

Workload requirements

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.

See also Unit timetable information