ACCT20002 Intermediate Financial Accounting
University of Melbourne · Level 2 · 12.5 points · Runs in 2026: Semester 1, Semester 2.
- Final exam 60%: exam-heavy
Is ACCT20002 hard?
ACCT20002: Harder. Makes it harder: Reviewers say it’s hard (8 reviews), Final exam 60%.
What you learn
Harder financial reporting under Australian Accounting Standards, and why managers make the accounting choices they do.
After it you can
- Record and disclose transactions under key Accounting Standards
- Explain theories of why financial accounting exists
- Judge how well the standards fit the Conceptual Framework
What you need first
ACCT10002
What it leads to
- ACCT20004 Accounting for Corporate Entities
- ACCT30001 Analysis of Firms & Financial Statements
- ACCT30006 Financial Analysis and Valuation
- ACCT30011 International Accounting Study Program
Can’t be taken together with
Careers
Helps toward: Accountant
How it’s assessed
Participation 10%, Assignments 10%, Quizzes 20%, Final exam 60%
Student reviews and ratings
Summarised from 8 students on StudentVIP (2015–2020)
- The newest reviews call it very demanding, with lots of content and an H1 that is very hard to reach; some rank it among the toughest commerce subjects.
- Older reviews were softer, calling it challenging but manageable and even fun, as long as you keep up from week one.
- Concepts build on each other and get harder; reviewers compare it to maths and say steady practice with exercises is the key.
- Views on teaching are mixed: tutorials are praised, while one recent review found the slides weak and uneven across topics.
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 ACCT20002
Quick answers
- When is ACCT20002 offered?
- Runs in 2026: Semester 1, Semester 2.
- What do I need before taking ACCT20002?
- Needs ACCT10002.
- Does ACCT20002 have a final exam?
- Yes, the final exam is 60% of the mark. Assessment: Participation 10%, Assignments 10%, Quizzes 20%, Final exam 60%.
- Is ACCT20002 hard?
- From 8 student reviews on StudentVIP: The newest reviews call it very demanding, with lots of content and an H1 that is very hard to reach; some rank it among the toughest commerce subjects.
- What do students say about ACCT20002?
- The newest reviews call it very demanding, with lots of content and an H1 that is very hard to reach; some rank it among the toughest commerce subjects. Older reviews were softer, calling it challenging but manageable and even fun, as long as you keep up from week one. Concepts build on each other and get harder; reviewers compare it to maths and say steady practice with exercises is the key.
- Can I take ACCT20002 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 ACCT20002?
- 4 subjects need it first, for example ACCT20004, ACCT30001, ACCT30006, ACCT30011.
- Can I rate ACCT20002?
- 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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