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Financial Accounting 1 FMGT 3110

Financial Management Part-time Studies Course

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Course details

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.

Prerequisite(s)

Credits

4.0

Cost

$770.70 - $787.37 See individual course offerings below for actual costs.

Course offerings

Spring/Summer 2022

Below is one offering of FMGT 3110 for the Spring/Summer 2022 term.

CRN 64381

Duration

Tue May 31 - Tue Aug 23 (13 weeks)

  • 13 weeks
  • CRN 64381
  • $770.70
Class meeting times
Dates Days Times Locations
May 31 - Aug 23 Tue 13:30 - 17:30 Online
Instructor

Shiraz Charania

Course outline

View

Credits

4

Cost

$770.70

Important information
  1. Internet delivery format.
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
  3. 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.
Status

In Progress

This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.

Fall 2022

Below are four offerings of FMGT 3110 for the Fall 2022 term.

CRN 30759

Duration

Wed Sep 07 - Wed Dec 07 (14 weeks)

  • 14 weeks
  • CRN 30759
  • $787.37
Class meeting times
Dates Days Times Locations
Sep 07 - Dec 07 Wed 18:00 - 21:45 Burnaby SE06 Rm. 206
Instructor

Michelle Miller

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

4

Cost

$787.37

Important information
  1. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
Status

CRN 40993

Duration

Thu Sep 08 - Thu Dec 08 (14 weeks)

  • 14 weeks
  • CRN 40993
  • $774.51
Class meeting times
Dates Days Times Locations
Sep 08 - Dec 08 Thu 09:00 - 12:45 Downtown DTC Rm. 481
Instructor

Ron McGregor

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

4

Cost

$774.51

Important information
  1. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
Status

CRN 31290

Duration

Sat Sep 10 - Sat Dec 10 (14 weeks)

  • 14 weeks
  • CRN 31290
  • $787.37
Class meeting times
Dates Days Times Locations
Sep 10 - Dec 10 Sat 09:00 - 12:45 Burnaby SW01 Rm. 4076
Instructor

Sue Tsiang

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

4

Cost

$787.37

Important information
  1. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
Status

CRN 30757

Duration

Mon Sep 05 - Mon Dec 12 (14 weeks)

  • 14 weeks
  • CRN 30757
  • $787.37
Class meeting times
Dates Days Times Locations
Sep 05 - Dec 12 Mon 18:00 - 21:45 Burnaby SW01 Rm. 2020
Instructor

Barb Fellnermayr

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

4

Cost

$787.37

Important information
  1. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
  2. The first session of this course will be held online. Class WILL NOT be held on Monday, October 10th (Thanksgiving)
Status

Full

This course offering is full. Please check this page for other currently available offerings or subscribe to receive email updates.

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:

School of Business + Media

  1. Accounting
    Diploma Full-time
  2. Accounting
    Diploma Part-time
  3. Finance
    Diploma Full-time
  4. Finance
    Diploma Part-time
  5. Financial Management (Finance Option)
    Certificate Part-time
  6. Financial Management (Professional Accounting Option)
    Certificate Part-time
  7. Financial Planning
    Diploma Part-time
  8. Professional Accounting
    Advanced Diploma Full-time/Part-time

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Programs and courses are subject to change without notice.