Course Overview
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).
Credits
3.0
Registration requirements
Departmental approval is required to register for this course. You must have approval from the department to register. Students accepted into a program can register directly.
Domestic fees
$915.57
International fees are typically 3.4 times the domestic tuition. Exact cost will be calculated upon completion of registration.
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:
- Indicates programs accepting international students.
- Indicates programs eligible for students to apply for Post-graduation Work Permit (PGWP).
School of Business + Media
- Accounting
Bachelor of Accounting Full-time/Part-time
- Financial Management (Professional Accounting Option)
Certificate Part-time
- Professional Accounting
Advanced Diploma Full-time/Part-time
Course Offerings
Fall 2026
Below is one offering of FMGT 7121 for the Fall 2026 term.
CRN 32651
Dates
Sep 14 - Dec 05 Loading
- CRN 32651
- $915.57 Domestic fees
Class meeting times
Duration
13 weeks
Instructor
Nadine Barrett
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- Class will NOT be be held for the following dates: October 12 (Thanksgiving Day) THIS IS A DEGREE LEVEL COURSE FOR THE BACHELOR OF ACCOUNTING PROGRAM. Please note the following registration guidelines: 1. Acceptance into the Bachelor of Accounting Program, OR 2. Completion of FMGT 3110 and FMGT 4110 (or equivalent) with a minimum average grade of 65% and approval from the Department. For approval, please send an email to bachelor_accounting@bcit.ca with your BCIT student ID number and a brief explanation of why you wish to register in the course. International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
No approval yet? Request approval You must have approval from the department to register. Students accepted into a program can register directly.
Status
If you have any questions about this course, please contact us.
Programs and courses are subject to change without notice. Find out more about BCIT course cancellations.