Handbook home
Introductory Financial Accounting (ACCT10002)
Undergraduate level 1Points: 12.5On Campus (Parkville)
For information about the University’s phased return to campus and in-person activity in Winter and Semester 2, please refer to the on-campus subjects page.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 1
Semester 2
Please refer to the LMS for up-to-date subject information, including assessment and participation requirements, for subjects being offered in 2020.
Overview
Availability | Summer Term Semester 1 Semester 2 |
---|---|
Fees | Look up fees |
This subject focuses on the nature of accounting from the perspective of a preparer of financial reports. The method of recording and reporting transactions in an accounting system to ultimately provide the foundation for judgements and decisions in preparation of financial reports will be covered. The importance of accounting within the Australian external reporting environment is explained as well as an introduction to the Conceptual Framework for accounting that provides a theoretical underpinning of accounting standards and reporting.
Intended learning outcomes
- Identify the principal regulatory authorities that influence the framework for external financial reporting in Australia and explain their roles and functions in this process.
- Describe the nature and objectives of General Purpose Financial Reporting
- Explain the key components of the Conceptual Framework for accounting as it applies to the preparation of general purpose financial statements.
- Record accounting transactions and prepare the Balance Sheet and the Income Statement.
- Explain the main issues to be considered in relation to reporting of key transactions and balances reported in the Balance Sheet and Income Statement.
- Describe the nature of company transactions and account for various capital transactions and profit distribution.
- Construct and analyse a Cash Flow Statement.
Generic skills
-
High level of development: problem solving; use of computer software.
-
Moderate level of development: written communication; collaborative learning; team work; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.
-
Some level of development: oral communication; statistical reasoning.
Last updated: 11 April 2024
Eligibility and requirements
Prerequisites
The following:
Code | Name | Teaching period | Credit Points |
---|---|---|---|
No longer available |
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ACCT10001 | Accounting Reports and Analysis |
Summer Term (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Please refer to Prerequisites and Corequisites.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 11 April 2024
Assessment
Due to the impact of COVID-19, assessment may differ from that published in the Handbook. Students are reminded to check the subject assessment requirements published in the subject outline on the LMS
Description | Timing | Percentage |
---|---|---|
Practice Set Assignment Part 1 (250 words) due in the first half of the semester (5%)
| First half of the teaching period | 5% |
Practice Set Assignment Part 2 (750 words) due in the second half of the semester (15%)
| Second half of the teaching period | 15% |
Three hour end-of-semester examination (70%)
| End of semester | 70% |
Tutorial attendance, contributions and online quizzes (10%) | Throughout the semester | 10% |
Last updated: 11 April 2024
Dates & times
- Summer Term
Mode of delivery On Campus (Parkville) Contact hours Summer Semester: two 2-hour lectures and two 1-hour tutorials per week for 6 weeks Total time commitment 170 hours Teaching period 1 January 2020 to 14 February 2020 Last self-enrol date 10 January 2020 Census date 17 January 2020 Last date to withdraw without fail 7 February 2020 Assessment period ends 29 February 2020 - Semester 1
Principal coordinator Warren McKeown Mode of delivery On Campus (Parkville) Contact hours Semester 1 and Semester 2: one 2-hour lecture and one 1-hour tutorial per week; Summer Semester: two 2-hour lectures and two 1-hour tutorials per week for 6 weeks Total time commitment 170 hours Teaching period 2 March 2020 to 7 June 2020 Last self-enrol date 13 March 2020 Census date 30 April 2020 Last date to withdraw without fail 5 June 2020 Assessment period ends 3 July 2020 Semester 1 contact information
- Semester 2
Principal coordinator Warren McKeown Mode of delivery On Campus (Parkville) Contact hours Semester 1 and Semester 2: one 2-hour lecture and one 1-hour tutorial per week; Summer Semester: two 2-hour lectures and two 1-hour tutorials per week for 6 weeks Total time commitment 170 hours Teaching period 3 August 2020 to 1 November 2020 Last self-enrol date 14 August 2020 Census date 21 September 2020 Last date to withdraw without fail 16 October 2020 Assessment period ends 27 November 2020 Semester 2 contact information
Time commitment details
170 Hours
Last updated: 11 April 2024
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
This subject contributes to the following:
Type Name Breadth Track Forensic Accounting - Breadth options
This subject is available as breadth in the following courses:
- Bachelor of Arts
- Bachelor of Biomedicine
- Bachelor of Design
- Bachelor of Environments
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Music
- Bachelor of Science
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 11 April 2024