ACF5950 - Introduction to financial accounting - 2019

6 points, SCA Band 3, 0.125 EFTSL

Postgraduate - 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)

Dr Jenny Guan (First semester)
Dr Jin Zhang (Second semester)


Dr Jenny Guan (First semester)
Dr Jin Zhang (Second semester)

Unit guides



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


Students enrolled in course B6002 are prohibited from undertaking this unit.


This unit provides students with an introduction to accounting and an understanding of the preparation, presentation and interpretation of financial statements. In particular, emphasis is placed on accounting processes, practices and policies that enable the financial performance and financial position of an entity, as displayed by the balance sheet, income statement and statement of cash flows, to be measured, analysed and interpreted.


The learning goals associated with this unit are to:

  1. describe and apply the definition and recognition criteria for assets, liabilities, income and expenses as specified in the conceptual framework
  2. apply the principles of double-entry accounting and appraise the relative merits of accrual and cash accounting
  3. analyse and record accounting transactions throughout the accounting cycle, and prepare financial statements consistent with accounting standards
  4. demonstrate effective technical skills to construct accounting records and financial statements using an accounting information system
  5. apply principles of selected accounting standards for service and retail organisations
  6. critically evaluate an entity's financial position and performance utilising financial statement analysis.


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