ACCT10002 Introductory Financial Accounting
University of Melbourne · Level 1 · 12.5 points · Runs in 2026: Semester 1, Semester 2.
- Final exam 60%: exam-heavy
Is ACCT10002 hard?
ACCT10002: Easier. Makes it easier: Reviewers say it’s manageable (10 reviews), First-year subject. Makes it harder: Final exam 60%.
What you learn
Recording business transactions and preparing financial reports under Australian accounting rules.
After it you can
- Record transactions; prepare a balance sheet and income statement
- Build and analyse a cash flow statement
- Compare a company's performance with other firms
What you need first
ACCT10001
What it leads to
- ACCT20002 Intermediate Financial Accounting
- ACCT20006 Business Forensics and Fraud
- ACCT20007 Accounting Information: Risks & Controls
Can’t be taken together with
Careers
Helps toward: Accountant
How it’s assessed
Participation 10%, Quizzes 10%, Assignments 20%, Final exam 60%
Student reviews and ratings
Summarised from 10 students on StudentVIP (2017–2018)
- Needs steady weekly practice (tutorial, textbook and past-exam questions); topics build on each other, so don't cram in SWOTVAC.
- Workload is a step up from ACCT10001, with a strong focus on journal entries and T-accounts.
- Assignments take real effort while quizzes are easy; exams are moderate and past papers are good preparation.
- Most found it a well-organised intro and doable without high-school accounting. Note that all reviews date from 2017-2018.
A summary of public reviews, not scored here.
Taken this subject? Rate it anonymously (difficulty, workload, marking, would you recommend it) and leave a tip for next year's students. Rate ACCT10002
Quick answers
- When is ACCT10002 offered?
- Runs in 2026: Semester 1, Semester 2.
- What do I need before taking ACCT10002?
- Needs ACCT10001.
- Does ACCT10002 have a final exam?
- Yes, the final exam is 60% of the mark. Assessment: Participation 10%, Quizzes 10%, Assignments 20%, Final exam 60%.
- Is ACCT10002 hard?
- From 10 student reviews on StudentVIP: Needs steady weekly practice (tutorial, textbook and past-exam questions); topics build on each other, so don't cram in SWOTVAC.
- What do students say about ACCT10002?
- Needs steady weekly practice (tutorial, textbook and past-exam questions); topics build on each other, so don't cram in SWOTVAC. Workload is a step up from ACCT10001, with a strong focus on journal entries and T-accounts. Assignments take real effort while quizzes are easy; exams are moderate and past papers are good preparation.
- Can I take ACCT10002 as breadth?
- Yes, for: Bachelor of Arts, Bachelor of Biomedicine, Bachelor of Design, 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 (Production), Bachelor of Fine Arts (Screenwriting), Bachelor of Fine Arts (Theatre), Bachelor of Fine Arts (Visual Art), Bachelor of Music, Bachelor of Science.
- What can I take after ACCT10002?
- 3 subjects need it first, for example ACCT20002, ACCT20006, ACCT20007.
- Can I rate ACCT10002?
- Yes. If you've taken it, rate it anonymously on this page (difficulty, workload, marking, would you recommend it) and leave a tip for next year's students. Averages show once 3 students have rated it; tips are checked before they appear.
Source: University of Melbourne Handbook 2026
Always confirm in the official Handbook.
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