Units / ACF5953
ACF5953 · Financial accounting
2026 Handbook6 credit pointsLevel 5Department of Accounting
Last checked: 23 Aug 2026 UTCOverview
An overview of the Australian financial reporting and regulatory framework for reporting entities, including an analysis of the relevant significant accounting standards, benchmarking against the conceptual framework, professional reporting requirements and stock exchange requirements. Financial reporting for corporate groups (including the impact of control, joint control and significant influence) and selected issues in financial reporting are also explored and benchmarked against the conceptual framework.
Offerings
| Campus | Teaching period | Mode |
|---|---|---|
| Caulfield | First semester | Teaching activities are on-campus (ON-CAMPUS) |
| Caulfield | Second semester | Teaching activities are on-campus (ON-CAMPUS) |
Assessment
The Handbook lists an examination for this unit.
| # | Assessment | Type | Weight | Hurdle |
|---|---|---|---|---|
| 1 | 1 - Written | Written | 20% | — |
| 2 | 2 - Presentation | Presentation | 30% | — |
| 3 | 3 - Examination | Examination | 50% | — |
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Requisites
prerequisite
- ACF5950 — Introduction to financial accounting
Learning outcomes
- describe and compare the regulatory requirements, domestic and international, associated with the preparation of general purpose financial statement for companies
- apply and critique the accounting rules for entities' investments in other entities, and apply these rules to prepare consolidated financial statements
- analyse a number of measurement and financial reporting issues and their possible resolution, including: accounting for income tax, post-acquisition accounting for assets, and business combinations
- develop capabilities to work effectively in a group to produce professional quality research reports; effective individual technical skills to construct consolidated financial statements; and demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered by the unit.
Workload
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. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
| Activity | Duration |
|---|---|
| Tutorials | 24 hours |
| Lectures | 12 hours |
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