- International Fees
International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Course Overview
With an applied emphasis, this course provides a solid foundation for professional requirements and transition to the workplace. The conceptual basis upon which assets, liabilities, equity, revenue and expenses are defined is discussed. The end user financial information needs upon which International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE) are based are identified. Building on introductory courses, the financial reporting model comprising measurements, statement presentations and related disclosures are explored on an area basis; current and non-current assets and related valuations, current liabilities, critical revenue and expense recognition criteria. The applied emphasis blends process (derivation and enabling entries) with end product financial statement presentation. Note: Full-time Accounting and Finance students applying for transfer credit for this course from other post-secondary institutes must have achieved a minimum grade of 65% or better.
Domestic fees
$817.27 - $834.17 See individual course offerings below for actual costs.
Learning Outcomes
Upon successful completion of the course, the student will be able to:
- Identify and explain the accounting concepts and principles that support the treatments of economic events under IFRS and Private Enterprise Standards.
- Explain the objectives of financial reporting and explain the application of those objectives in statement preparation both International Financial Reporting Standards (IFRS), and Private Enterprise Standards.
- Prepare a statement of comprehensive income in proper form, properly identifying and classifying other gains and losses or irregular economic events.
- Prepare a statement of retained earnings from data supplied, including identifying and properly presenting adjustments to beginning balances.
- Explain the criteria for classifications of various statement components such as current assets versus non-current assets.
- Recognize and measure revenue in accordance with recognition standards.
- Identify and apply the reporting issues for near-cash operating assets in the business cycle; cash, receivables and inventories
- Identify and report investments -- both non-strategic (debt and equity) and strategic (significant influence or control). Apply accounting for all investment types except a control relationship (consolidation).
- Identify and value types of tangible and intangible assets; accounting for held-for-sale capital assets; non-monetary exchanges; assets acquired through favourable financing and share exchanges; self-constructed assets. Alternative valuation bases.
- Apply the various methods of depreciation of tangible and intangible assets; industry or business specific depreciation methods. Identify asset impairments and be able to measure and report impairments.
- Discuss intangible assets, the determination of goodwill and impairment thereof.
Effective as of Winter 2012
Related Programs
Financial Accounting 1 (FMGT 3110) is offered as a part of the following programs:
- Indicates programs accepting international students.
- Indicates programs with a co-op option.
School of Business + Media
- Accounting
Diploma Full-time
- Accounting
Diploma Part-time
- Accounting
Diploma Part-time
- Finance
Diploma 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
- Financial Planning
Diploma Part-time
- Professional Accounting
Advanced Diploma Full-time/Part-time
Course Offerings
Spring/Summer 2024
Below is one offering of FMGT 3110 for the Spring/Summer 2024 term.
CRN 64381
Dates
Thu May 23 - Thu Aug 22
- 14 weeks
- CRN 64381
- Domestic fees $817.27
Status
In Progress
This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| May 23 - Aug 22 | Thu | 18:00 - 21:45 | Burnaby SE06 Rm. 205 |
Instructor
Israr Rahimi
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.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Fall 2024
Below are four offerings of FMGT 3110 for the Fall 2024 term.
CRN 30759
Dates
Wed Sep 11 - Wed Dec 11
- 14 weeks
- CRN 30759
- Domestic fees $834.17
Status
Seats Available
4 seats remaining as of Fri July 26, 2024 at 6:13 pm (PDT). Availability may change at any time.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 11 | Wed | 18:00 - 21:45 | Burnaby SE06 Rm. 206 |
| Sep 18 - Sep 25 | Wed | 18:00 - 21:45 | Online |
| Oct 02 | Wed | 18:00 - 21:45 | Burnaby SE06 Rm. 206 |
| Oct 09 | Wed | 18:00 - 21:45 | Online |
| Oct 16 - Oct 30 | Wed | 18:00 - 21:45 | Burnaby SE06 Rm. 206 |
| Nov 06 - Nov 27 | Wed | 18:00 - 21:45 | Online |
| Dec 04 - Dec 11 | Wed | 18:00 - 21:45 | Burnaby SE06 Rm. 206 |
Instructor
Michelle Miller
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- Please note the following exam/exam debrief dates: Mid-Term Exam = Wed., Oct. 23rd (1800 – 2145). Mid-Term Exam De-Brief = Wed., Oct 30th (1800 – 2145). Final Exam = Wed., Dec. 11th (1800 – 2145). 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. 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.
CRN 40993
Dates
Thu Sep 12 - Thu Dec 12
- 14 weeks
- CRN 40993
- Domestic fees $819.88
Status
Seats Available
This course offering has seats available.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 12 - Dec 12 | Thu | 09:00 - 12:45 | Downtown DTC Rm. 483 |
Instructor
Ron McGregor
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
CRN 30757
Dates
Mon Sep 09 - Mon Dec 09
- 14 weeks
- CRN 30757
- Domestic fees $834.17
Status
Full
This course offering is full. Please check this page for other currently available offerings or subscribe to receive email updates.
Class meeting times
Instructor
Barbara Fellnermayr
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- Class WILL NOT be held on Monday, September 30th (National Day for Truth and Reconciliation), Monday, October 14th (Thanksgiving), and Monday, November 11th (Remembrance Day). Classes WILL also be held on Sunday, September 29th (12:00 – 15:45), Sunday, October 6th (12:00 – 15:45), and Sunday, November 10th (12:00 – 15:45).
CRN 31290
Dates
Sat Sep 14 - Sat Dec 14
- 14 weeks
- CRN 31290
- Domestic fees $834.17
Status
Full
This course offering is full. Please check this page for other currently available offerings or subscribe to receive email updates.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 14 - Dec 14 | Sat | 09:00 - 12:45 | Burnaby SE06 Rm. 205 |
Instructor
Sue Tsiang
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Programs and courses are subject to change without notice.