- International Fees
International fees are typically 3.25 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
$819.88 - $850.97 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.
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
Spring/Summer 2025
Below are two offerings of FMGT 3110 for the Spring/Summer 2025 term.
CRN 20424
Dates
Apr 11 - Jul 18 Loading
- CRN 20424
- $819.88 Domestic fees
Class meeting times
Duration
14 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.
- International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- Class WILL NOT be held on Friday, Apr. 18th (Easter Friday) and Friday, May 9th. The following dates will be HELD IN-CLASS at the Downtown Campus and are MANDATORY: Mid-Term Exam: Friday, May 30, 2025 (13:30 - 17:15) Midterm Debrief: Friday, June 6, 2025 (13:30 - 17:15) and Final Exam: Friday, July 18, 2025 (13:30 -17:15). 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. The in-person dates/classes are required for students to attend, and have MANDATORY ATTENDANCE. 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
CRN 64381
Dates
May 22 - Aug 21 Loading
- CRN 64381
- $834.17 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| May 22 - Aug 21 | Thu | 18:00 - 21:45 | Burnaby SE06 Rm. 102 |
Duration
14 weeks
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 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Status
Fall 2025
Below are four offerings of FMGT 3110 for the Fall 2025 term.
CRN 30757
Dates
Sep 02 - Dec 15 Loading
- CRN 30757
- $850.97 Domestic fees
Class meeting times
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.
- International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- Class WILL NOT be held on Monday, September 1st (Labor Day), and Monday, October 13th (Thanksgiving). First class will be held on Thursday, September 4th (18:00 – 22:00) at the Burnaby campus.
Status
CRN 30759
Dates
Sep 03 - Dec 10 Loading
- CRN 30759
- $850.97 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 03 | Wed | 18:00 - 22:00 | Burnaby NE23 Rm. 101 |
| Sep 10 | Wed | 18:00 - 22:00 | Online |
| Sep 17 | Wed | 18:00 - 22:00 | Burnaby NE23 Rm. 101 |
| Sep 24 - Oct 01 | Wed | 18:00 - 22:00 | Online |
| Oct 08 | Wed | 18:00 - 22:00 | Burnaby NE23 Rm. 101 |
| Oct 15 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 207 |
| Oct 22 | Wed | 18:00 - 22:00 | Burnaby NE23 Rm. 101 |
| Oct 29 - Nov 05 | Wed | 18:00 - 22:00 | Online |
| Nov 12 | Wed | 18:00 - 22:00 | Burnaby NE23 Rm. 101 |
| Nov 19 - Dec 03 | Wed | 18:00 - 22:00 | Online |
| Dec 10 | Wed | 18:00 - 22:00 | Burnaby SE06 Rm. 207 |
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.
- International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- The following dates will be HELD IN-CLASS at the Burnaby Campus and are MANDATORY: September 3 and 17, October 8 and 22 and November 12. Midterm: October 10, 2025, and Final: December 10, 2025. 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. The in-person dates/classes are required for students to attend, and have MANDATORY ATTENDANCE. 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
CRN 40993
Dates
Sep 04 - Dec 11 Loading
- CRN 40993
- $836.31 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 04 - Dec 11 | Thu | 17:30 - 21:30 | Downtown DTC Rm. 483 |
Duration
15 weeks
Instructor
Israr Rahimi
Course outline
Important information
- International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Status
CRN 31290
Dates
Sep 06 - Dec 13 Loading
- CRN 31290
- $850.97 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 06 - Dec 13 | Sat | 09:00 - 13:00 | Burnaby SE06 Rm. 203 |
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.
- International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Status
Programs and courses are subject to change without notice.