Conceptually, equally difficult to its prerequisite course. This course aims to fill in the gaps left behind 1A, thus provide everything you need to commence second year accounting.
This was the first time since 2.5 years they switched BACK to the lecture/tutorial scheme. Note that prior to this semester it was taught in a 'seminar' style. Lectures are, in general, similar to 1A. The fortnightly tutorials are taught in "The Place" (ground floor, ASB) and put a nice emphasis on group work, that is, if you try to work with your group. Personally, I managed to make some good friends out of the tutorials.
Quizzes are usually free marks, but they're not easy per se and it's possible to mess up. Final exam was a shocker; questions that were usually in the style of long responses got condensed into multiple choices and I found myself changing my answers too often. Definitely more content heavy than 1A, but if you did well in that then you can do well here.
It is generally recommended to take 1B (if you must take it) RIGHT AFTER you do 1A. Otherwise, you forget too many concepts too easily.