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
$853.52 - $868.49 See individual course offerings below for actual costs.
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 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.
School of Business + Media
- Accounting
Diploma Full-time
- Accounting
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
- Professional Accounting
Advanced Diploma Full-time/Part-time
Course Offerings
Fall 2026
Below are four offerings of FMGT 3110 for the Fall 2026 term.
CRN 30757
Dates
Sep 01 - Dec 08 Loading
- CRN 30757
- $868.49 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 01 - Dec 08 | Tue | 18:00 - 22:00 | Burnaby SE06 Rm. 106 |
Duration
15 weeks
Instructor
Barbara Fellnermayr
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.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 30759
Dates
Sep 02 - Dec 09 Loading
- CRN 30759
- $868.49 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 02 | Wed | 18:00 - 22:00 | Burnaby NE01 Rm. 412 |
| Sep 09 - Sep 16 | Wed | 18:00 - 22:00 | Online |
| Sep 23 | Wed | 18:00 - 22:00 | Burnaby NE01 Rm. 412 |
| Sep 25 | Fri | 18:00 - 22:00 | Online |
| Oct 07 | Wed | 18:00 - 22:00 | Online |
| Oct 14 | Wed | 18:00 - 22:00 | Burnaby SW01 Rm. 2030 |
| Oct 21 | Wed | 18:00 - 22:00 | Burnaby SW01 Rm. 2030 |
| Oct 28 | Wed | 18:00 - 22:00 | Burnaby NE01 Rm. 412 |
| Nov 04 | Wed | 18:00 - 22:00 | Online |
| Nov 13 | Fri | 18:00 - 22:00 | Burnaby NE01 Rm. 412 |
| Nov 18 - Dec 02 | Wed | 18:00 - 22:00 | Online |
| Dec 09 | Wed | 18:00 - 22:00 | Burnaby SW01 Rm. 2030 |
Duration
15 weeks
Instructor
Michelle Miller
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.
- The following dates will be HELD IN-CLASS at the Burnaby Campus and are MANDATORY: Class 1: Wednesday, September 2, 2026 ( 18:00 - 22:00), Class 4: Wednesday, September 23, 2026 (18:00 - 22:00) Midterm: Wednesday, October 14, 2026 (18:00 -22:00), Midterm Debrief: Wednesday October 21, 2026 (18:00 - 22:00), Class 9: Wednesday, October 28, 2026 (18:00 -22:00), Class 11: Friday, November 13, 2026 (18:00 - 22:00) and Final: Wednesday, December 9, 2026 (18:00 - 22:00) 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. 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.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 40993
Dates
Sep 03 - Dec 10 Loading
- CRN 40993
- $853.52 Domestic fees
Class meeting times
Duration
15 weeks
Instructor
Trevor Jang
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.
- The following dates will be HELD IN-CLASS at the Downtown Campus and are MANDATORY: Mid-Term Exam: Thursday, October 15, 2026 (17:30 - 21:30), Midterm Debrief: Thursday, October 22, 20226 (17:30 - 212:30) and Final Exam: Thursday, December 10, 2026 (17:30 - 21:30) 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. 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.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 31290
Dates
Sep 05 - Dec 12 Loading
- CRN 31290
- $868.49 Domestic fees
Class meeting times
Duration
15 weeks
Instructor
Sue Tsiang
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.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
Winter 2027
Below are four offerings of FMGT 3110 for the Winter 2027 term.
CRN 12991
Dates
Jan 04 - Apr 26 Loading
- CRN 12991
- $853.52 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Jan 04 - Apr 26 | Mon | 17:30 - 21:30 | Downtown DTC Rm. 385 |
Duration
15 weeks
Instructor
Sue Tsiang
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- Class WILL NOT be held Monday, February 15th (Family Day), and Monday, March 29th (Easter Monday).
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 14878
Dates
Jan 05 - Apr 13 Loading
- CRN 14878
- $868.49 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Jan 05 | Tue | 18:00 - 22:00 | Burnaby SW01 Rm. 3175 |
| Jan 12 - Jan 19 | Tue | 18:00 - 22:00 | Online |
| Jan 26 | Tue | 18:00 - 22:00 | Burnaby SW01 Rm. 3175 |
| Feb 02 - Feb 09 | Tue | 18:00 - 22:00 | Online |
| Feb 16 | Tue | 18:00 - 22:00 | Burnaby SW01 Rm. 3175 |
| Feb 23 | Tue | 18:00 - 22:00 | Burnaby SW01 Rm. 3175 |
| Mar 02 | Tue | 18:00 - 22:00 | Burnaby SW01 Rm. 3175 |
| Mar 09 | Tue | 18:00 - 22:00 | Online |
| Mar 16 | Tue | 18:00 - 22:00 | Burnaby SW01 Rm. 3175 |
| Mar 23 - Apr 06 | Tue | 18:00 - 22:00 | Online |
| Apr 13 | Tue | 18:00 - 22:00 | Burnaby SW01 Rm. 3175 |
Duration
15 weeks
Instructor
Michelle Miller
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- The following dates will be HELD IN-CLASS at the Burnaby Campus and are MANDATORY: January 5 and 26, March 2 and 16 along with the Midterm: Tuesday, February 16, 2027 (18:00 - 22:00), Midterm debrief: Tuesday, February 23, 2027 (18:00 - 22:00) and Final: Tuesday, April 13, 2027 (18:00 - 22:00). 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. 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.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 15272
Dates
Jan 06 - Apr 14 Loading
- CRN 15272
- $868.49 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Jan 06 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 102 |
| Jan 13 - Jan 20 | Wed | 18:00 - 22:00 | Online |
| Jan 27 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 102 |
| Feb 03 - Feb 10 | Wed | 18:00 - 22:00 | Online |
| Feb 17 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 102 |
| Feb 24 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 102 |
| Mar 03 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 102 |
| Mar 10 | Wed | 18:00 - 22:00 | Online |
| Mar 17 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 102 |
| Mar 24 - Apr 07 | Wed | 18:00 - 22:00 | Online |
| Apr 14 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 102 |
Duration
15 weeks
Instructor
Michelle Miller
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- The following dates will be HELD IN-CLASS at the Burnaby Campus and are MANDATORY: January 6 and 27, March 3 and 17 along with the Midterm: Wednesday, February 17, 2027 (18:00 - 22:00), Midterm debrief: Wednesday, February 24, 2027 (18:00 - 22:00) and Final: Wednesday, April 14, 2027 (18:00 - 22:00). 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. 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.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
CRN 15544
Dates
Jan 07 - Apr 15 Loading
- CRN 15544
- $868.49 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Jan 07 - Apr 15 | Thu | 18:00 - 22:00 | Burnaby SW01 Rm. 3150 |
Duration
15 weeks
Instructor
Kristine Thompson
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
If you have any questions about this course, please contact us.
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