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.
Credits
4.0
Cost
$774.51 - $805.27 See individual course offerings below for actual costs.
Course offerings
Spring/Summer 2023
Below are three offerings of FMGT 3110 for the Spring/Summer 2023 term.
CRN 26165
Duration
Sat Apr 08 - Sat Jul 15 (14 weeks)
- 14 weeks
- CRN 26165
- $787.37
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 08 - May 13 | Sat | 09:00 - 12:45 | Online |
| May 20 | Sat | 09:00 - 12:45 | Burnaby SW01 Rm. 2009 |
| May 27 | Sat | 09:00 - 12:45 | Burnaby SW01 Rm. 2009 |
| Jun 03 - Jul 08 | Sat | 09:00 - 12:45 | Online |
| Jul 15 | Sat | 09:00 - 12:45 | Burnaby SW01 Rm. 2009 |
Instructor
Ron McGregor
Course outline
Credits
4
Cost
$787.37
Important information
-
The following dates will be HELD IN-CLASS at the Burnaby Campus: Midterm: Saturday, May 20th Final: Saturday, July 15th 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. Class WILL NOT be held on Saturday, July 1st (Canada Day).
Status
In Progress
This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.
CRN 20424
Duration
Fri Apr 21 - Fri Jul 21 (14 weeks)
- 14 weeks
- CRN 20424
- $774.51
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 21 - Jun 02 | Fri | 13:30 - 17:15 | Online |
| Jun 09 | Fri | 13:30 - 17:15 | Downtown DTC Rm. 810 |
| Jun 16 - Jul 14 | Fri | 13:30 - 17:15 | Online |
| Jul 21 | Fri | 13:30 - 17:15 | Downtown DTC Rm. 810 |
Instructor
Shiraz Charania
Course outline
Credits
4
Cost
$774.51
Important information
-
The following dates will be HELD IN-CLASS at the Downtown Campus: Midterm: Friday, June 9th Final: Friday, July 21st Please be advised that you will NEED TO BRING YOUR OWN DEVICE for the in-class exams. Please ensure that your device has at least 4hrs of battery life. 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.
CRN 64381
Duration
Wed May 31 - Wed Aug 23 (13 weeks)
- 13 weeks
- CRN 64381
- $787.37
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| May 31 - Aug 23 | Wed | 18:00 - 22:00 | Burnaby SW01 Rm. 2045 |
Instructor
Michelle Miller
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Credits
4
Cost
$787.37
Status
In Progress and Full
This course offering is in progress and full. Please check this page for other currently available offerings or subscribe to receive email updates.
Fall 2023
Below are four offerings of FMGT 3110 for the Fall 2023 term.
CRN 30759
Duration
Wed Sep 06 - Wed Dec 06 (14 weeks)
- 14 weeks
- CRN 30759
- $805.27
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 06 - Oct 11 | Wed | 18:00 - 21:45 | Online |
| Oct 18 | Wed | 18:00 - 21:45 | Burnaby SW01 Rm. 2005 |
| Oct 25 | Wed | 18:00 - 21:45 | Burnaby SW01 Rm. 2005 |
| Nov 01 - Nov 29 | Wed | 18:00 - 21:45 | Online |
| Dec 06 | Wed | 18:00 - 21:45 | Burnaby SW01 Rm. 2005 |
Instructor
Michelle Miller
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Credits
4
Cost
$805.27
Important information
-
The following dates will be HELD IN-CLASS at the Burnaby Campus: Mid-Term Exam = Wed., Oct. 18th (1800 – 2145). Mid-Term Exam De-Brief = Wed., Oct. 25th (1800 – 2145). Final Exam = Wed., Dec. 6th (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.
Status
CRN 40993
Duration
Thu Sep 07 - Thu Dec 07 (14 weeks)
- 14 weeks
- CRN 40993
- $791.52
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 07 - Dec 07 | Thu | 09:00 - 12:45 | Downtown DTC Rm. 483 |
Instructor
Ron McGregor
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Credits
4
Cost
$791.52
Status
CRN 31290
Duration
Sat Sep 09 - Sat Dec 16 (13 weeks)
- 13 weeks
- CRN 31290
- $805.27
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 09 - Dec 16 | Sat | 09:00 - 13:00 | Burnaby SE06 Rm. 205 |
Instructor
Sue Tsiang
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Credits
4
Cost
$805.27
Important information
-
Class WILL NOT be held on Saturday, September 30th (National Day for Truth and Reconciliation) & Saturday, November 11th (Remembrance Day).
Status
CRN 30757
Duration
Mon Sep 11 - Mon Dec 11 (14 weeks)
- 14 weeks
- CRN 30757
- $805.27
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 11 - Dec 11 | Mon | 18:00 - 21:45 | Burnaby SW03 Rm. 1750 |
| Oct 01 - Oct 08 | Sun | 12:00 - 15:45 | Burnaby SW03 Rm. 1750 |
| Nov 12 | Sun | 12:00 - 15:45 | Burnaby SW03 Rm. 1750 |
Instructor
Barb Fellnermayr
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Credits
4
Cost
$805.27
Important information
-
Class WILL NOT be held on Monday, October 2nd (in lieu of National Day for Truth and Reconciliation), Monday, October 9th (Thanksgiving), and Monday, November 13th (in lieu of Remembrance Day). Classes WILL also be held on Sunday, October 1st (12:00 – 15:45), Sunday, October 8th (12:00 – 15:45), and Sunday, November 12th (12:00 – 15:45).
Status
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
- Accounting
Diploma Full-time
- Accounting
Diploma Full-time
- Accounting
Diploma Part-time
- Finance
Diploma Full-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
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Programs and courses are subject to change without notice.