Course Overview
This course covers the full accounting cycle for individuals with little or no accounting background. Topics include accounting as an information system; introduction to accounting theory; income measure; traditional record keeping; the accounting cycle; cash and financial statements.
Prerequisite(s)
- No prerequisites are required for this course.
Credits
3.0
Domestic fees
$588.39 - $603.05 See individual course offerings below for actual costs.
International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Learning Outcomes
Upon successful completion of the course, the student will be able to:
- Describe the nature and purpose of accounting information including its limitations and basic concepts.
- Apply generally accepted accounting principles in the analysis and recording of business transactions.
- Apply the basic principles of double-entry bookkeeping to record transactions for both a service and a merchandising business.
- Prepare a trial balance.
- Analyze and record adjusting journal entries.
- Prepare financial statements (Income Statement, Statement of Owner's Equity and the Balance Sheet) for a service business and merchandising business.
- Prepare closing journal entries and close a set of books.
- Describe and differentiate the three forms of business organization.
- Determine the value of ending inventories under alternative generally accepted accounting methods.
- Apply estimating techniques to value ending inventories for interim financial statements and to estimate inventory shortages.
Effective as of Fall 2012
Related Programs
Accounting 1 (FMGT 1100) is offered as a part of the following programs:
- Indicates programs accepting international students.
School of Business + Media
- Accounting
Diploma Part-time
- Business Administration
Associate Certificate Part-time
- Business Fundamentals
Associate Certificate Full-time
- Business Management
Certificate Part-time
- Computerized Accounting
Associate Certificate Part-time
- Finance
Diploma Part-time
- Financial Management (Finance Option)
Certificate Part-time
- Financial Management (Professional Accounting Option)
Certificate Part-time
- Financial Planning
Diploma Part-time
- Marketing Management
Certificate Part-time
- Marketing Management (Marketing Communications Option)
Certificate Part-time
- Marketing Management (Professional Sales Option)
Certificate Part-time
- Marketing Management - Entrepreneurship
Associate Certificate Part-time
- Payroll Administration
Certificate Part-time
- Payroll and Human Resources
Associate Certificate Part-time
Course Offerings
Spring/Summer 2026
Below are seven offerings of FMGT 1100 for the Spring/Summer 2026 term.
CRN 20404
Dates
Apr 07 - Jun 23 Loading
- CRN 20404
- $603.05 Domestic fees
Class meeting times
Duration
12 weeks
Instructor
Gary Nitikman
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- The following dates will be HELD IN-CLASS at the Burnaby Campus and are mandatory. Mid-Term: Tuesday, May 19, 2026 (18:30 - 21:45), Mid-Term Exam De-Brief: Tuesday, May 26, 2026 (18:30 - 21:45) and Final: Tuesday, June 23, 2026 (18:30 - 21:45). This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Attendance for the in-person exams/classes is MANDATORY. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. This course includes the WileyPlus program. This program requires an access PIN code available in NEW textbook packages. If students purchase used texts there will be an additional fee to obtain the access PIN code. Instructor will hand out WileyPlus information in the first class. Accounting 1 students require ONLY Volume 1 of the text by Wiley, however, if students are planning to continue into FMGT 2100 - Accounting 2, they are advised to purchase the 2 Volume set.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 68590
Dates
Apr 07 - Jun 27 Loading
- CRN 68590
- $603.05 Domestic fees
Class meeting times
Duration
12 weeks
Instructor
Bernadette Edwards
Course outline
Important information
- The following dates will be HELD IN-PERSON at the Burnaby Campus. Midterm: Saturday, May 23, 2026 (10:00 13:30) and Final: Saturday, June 27, 2026 ( 14:00 - 16:30) This course is asynchronous, but not self-paced. Students must complete the assignments as shown on the course schedule. Accounting 1 students require ONLY volume 1 of Weygandt: Accounting Principles. However, those that plan to continue to FMGT 2100: Accounting 2 are advised to purchase volumes 1 and 2. This course may not be audited. Please email any questions regarding this section to FMGT_Online@bcit.ca.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 20405
Dates
Apr 08 - Jun 24 Loading
- CRN 20405
- $588.39 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 08 - Jun 24 | Wed | 17:30 - 20:45 | Downtown DTC Rm. 483 |
Duration
12 weeks
Instructor
Mandeep Mann
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 69274
Dates
Apr 13 - Jul 06 Loading
- CRN 69274
- $603.05 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 13 - Jul 06 | Mon | 18:00 - 21:15 | Burnaby NE01 Rm. 402 |
Duration
12 weeks
Instructor
Chandan Johal
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- Class WILL NOT be held on Monday, May 18th (Victoria Day). This course includes the WileyPlus program. This program requires an access PIN code available in NEW textbook packages. If students purchase used texts there will be an additional fee to obtain the access PIN code. Instructor will hand out WileyPlus information in the first class.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 56754
Dates
Apr 22 - Aug 05 Loading
- CRN 56754
- $603.05 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 22 - Aug 05 | Wed | 13:30 - 16:20 | Burnaby |
Duration
15 weeks
Instructor
TBD
Course outline
Important information
- Class will NOT be held on Wednesday, July 1, 2026. This section is part of the Business Fundamentals (BFUN) Program (www.bcit.ca/study/programs/7985acert). As this is the case, the course will be taught in a way that accommodates the needs of English Language Learners. Please send any inquiries to bfun@bcit.ca.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 20401
Dates
Apr 27 - Jun 08 Loading
- CRN 20401
- $603.05 Domestic fees
Class meeting times
Duration
7 weeks
Instructor
Peter Goel
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- Class WILL NOT be held on Monday, May 18th (Victoria Day). The following dates will be HELD IN-CLASS at the Burnaby Campus and are MANDATORY. Mid-Term: Thursday, May 21,2026 (18:30 - 21:45) and Final: Monday, June 8, 2026 ( 18:30 - 21:45) This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Attendance for the in-person exams/classes is MANDATORY. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. This course includes the WileyPlus program. This program requires an access PIN code available in NEW textbook packages. If students purchase used texts there will be an additional fee to obtain the access PIN code. Instructor will hand out WileyPlus information in the first class. Accounting 1 students require ONLY Volume 1 of the text by Wiley, however, if students are planning to continue into FMGT 2100 - Accounting 2, they are advised to purchase the 2 Volume set.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 66760
Dates
May 28 - Aug 20 Loading
- CRN 66760
- $603.05 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| May 28 - Aug 20 | Thu | 18:00 - 21:00 | Burnaby NE01 Rm. 406 |
Duration
13 weeks
Instructor
Kristine Thompson
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- This course includes the WileyPlus program. This program requires an access PIN code available in NEW textbook packages. If students purchase used texts there will be an additional fee to obtain the access PIN code. Instructor will hand out WileyPlus information in the first class. Accounting 1 students require ONLY Volume 1 of the text by Wiley, however, if students are planning to continue into FMGT 2100 - Accounting 2, they are advised to purchase the 2 Volume set.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
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