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Advanced Accounting FMGT 7121

Financial Management Part-time Studies Course

Course details

Building on technical skills and knowledge covered in earlier accounting courses, this course focuses on complex accounting topics. Its primary focus is on accounting for long-term, inter-corporate equity investments under International Financial Reporting Standards and Accounting Standards for Private Enterprises. Other topics covered include accounting for foreign currency transactions, translation and consolidation of foreign currency financial statements, and accounting standards pertaining to not-for-profit and public sector organizations. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP).

Prerequisite(s)

Credits

3.0

Cost

$830.86

Course offerings

Fall 2022

Below is one offering of FMGT 7121 for the Fall 2022 term.

CRN 32651

Duration

Mon Sep 12 - Mon Dec 12 (13 weeks)

  • 13 weeks
  • CRN 32651
  • $830.86
Class meeting times
Dates Days Times Locations
Sep 12 - Dec 12 Mon 18:00 - 21:30 Online
Oct 31 Mon 18:00 - 21:30 Burnaby SE06 Rm. 205
Dec 12 Mon 18:00 - 21:30 Burnaby SE06 Rm. 206
Instructor

Terry Gordon

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Cost

$830.86

Important information
  1. Departmental approval needed
  2. This class will be held virtually, with the exception of mandatory in-person exams. This is a synchronous course, so students must be available to attend remotely through Zoom at the scheduled class times. Students must have a webcam and microphone. The final exam will be held during class time IN PERSON at the Burnaby Campus in the classroom listed above. This is a degree level course for the Bachelor of Accounting program. Please direct any inquiries to bachelor_accounting@bcit.ca. This course fulfills the CPA prerequisite for Module 5.3 Advanced Financial Accounting. www.bccpa.ca/CpaBc/media/CPABC/Become%20A%20CPA/prerequisites/BCIT_CPA-Course-Sheets.pdf
Status

Full

This course offering is full. Please check back next term or subscribe to receive email updates.

Learning Outcomes

Upon successful completion of this course the student will be able to:

  • Analyze inter-corporate investment transactions and determine the correct accounting treatment for the investment.
  • Identify and apply the appropriate accounting standards relevant to the following:
    • Passive investments (fair value methods)
    • Investments in associates and joint ventures (equity method)
    • Business combinations (consolidation)
  • Prepare consolidated financial statements appropriately dealing with such complexities as:
    • Intercompany revenues, expenses and balances
    • Unrealized intercompany profits pertaining to intercompany asset transfers
    • Non-wholly owned subsidiaries
  • Apply the accounting standards applicable to foreign currency transactions, hedge accounting, and the translation and consolidation of financial statements denominated in foreign currencies.
  • Identify and discuss accounting standards and issues that are unique to not-for-profit and public sector organizations.
  • Prepare financial statements of not-for-profit organizations using both the deferral and restricted funds methods.

Effective as of Fall 2016

Related Programs

Advanced Accounting (FMGT 7121) is offered as a part of the following programs:

School of Business + Media

  1. Accounting
    Bachelor of Accounting Full-time/Part-time
  2. Professional Accounting
    Advanced Diploma Full-time/Part-time

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