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Financial Management
FMGT 1105

Accounting 1 for Financial Management FMGT 1105

Financial Management Course

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Notices

Registration news

Registration is now open for the Spring/Summer 2026 term.

Additional Information

Please check the classroom locations listing on the first day of your course.
Find out if you qualify for financial aid.
BCIT’s English Language Proficiency Standard for Flexible Learning (Part-time Studies) is English 12.
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Course Overview

This course is the first of two designed to introduce the theoretical and practical foundations in accounting. Topics include accounting concepts and principles; income measurement; business transactions; adjusting and closing entries; financial statement preparation; the accounting cycle; merchandising operations; and accounting systems.

Prerequisite(s)

No prerequisites are required for this course.

Credits

5.0

Not offered this term: This course is not offered this term. Notify me to receive email notifications when the course opens for registration next term.

Learning Outcomes

Upon successful completion, the student will be able to:

Evaluate 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 the recording of transactions for both a service and a merchandising business.
Prepare a trial balance.
Analyze and record adjusting entries for both service and merchandising operations.
Complete a worksheet.
Generate financial statements (Income Statement, Statement of Retained Earnings and the Balance Sheet) for a service and a merchandising business in compliance with Accounting Standards for Private Enterprises (ASPE).
Close the books.
Describe and differentiate the three forms of business organization.
Evaluate Accounting information systems and appreciate the need for internal control.

Effective as of Fall 2011

Related Programs

Accounting 1 for Financial Management (FMGT 1105) is offered as a part of the following programs:

Indicates programs accepting international students.

School of Business + Media

Accounting
Diploma Full-time
Accounting
Diploma Part-time
Finance
Diploma Full-time
Finance
Diploma Part-time
Financial Planning
Diploma Full-time
Financial Planning
Diploma Part-time

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Interested in future offerings of Accounting 1 for Financial Management (FMGT 1105)? Fill out the form below to receive an email notification if this course is offered in a future term.

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Privacy Notice: The information you provide will be used to respond to your request for BCIT program information and is collected under Section 26(c) of the Freedom of Information and Protection of Privacy Act (FIPPA). For more information about BCIT’s privacy practices contact: Director, Privacy, Information Access & Policy Management, British Columbia Institute of Technology, 3700 Willingdon Ave. Burnaby, BC V5G 3H2, email: privacy@bcit.ca.

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