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Financial Accounting 2 FMGT 4110

Financial Management Course

Course details

This is the second of two courses in intermediate accounting designed to prepare the student to enter a professional accounting program at the intermediate level. FMGT 4110 covers significant aspects of the liabilities and equity section of the balance sheet, and the related income statement accounts. Both International Financial Reporting Standards (IFRS) and Private Enterprise GAAP (PE GAAP) will be examined.

Prerequisite(s)

Credits

5.5

Cost

$787.70 - $805.60 See individual course offerings below for actual costs.

Course offerings

Spring/Summer 2023

Below are three offerings of FMGT 4110 for the Spring/Summer 2023 term.

CRN 21380

Duration

Mon Jun 12 - Mon Jul 31 (8 weeks)

  • 8 weeks
  • CRN 21380
  • $787.70
Class meeting times
Dates Days Times Locations
Jun 12 - Jul 31 Mon, Thu 18:00 - 21:45 Burnaby SW01 Rm. 2030
Instructor

Ron McGregor

Course outline

View

Credits

5.5

Cost

$787.70

Important information
  1. Class WILL NOT be held on Monday, July 3rd (In lieu of Canada Day).
Status

Seats Available

2 seats remaining as of Wed May 31, 2023 at 9:39 pm (PDT). Availability may change at any time.

CRN 23139

Duration

Wed Apr 05 - Wed Jul 05 (14 weeks)

  • 14 weeks
  • CRN 23139
  • $787.70
Class meeting times
Dates Days Times Locations
Apr 05 - Jul 05 Wed 18:00 - 21:45 Burnaby SW01 Rm. 2020
Instructor

Ron McGregor

Course outline

View

Credits

5.5

Cost

$787.70

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 54355

Duration

Mon Apr 24 - Mon Aug 14 (14 weeks)

  • 14 weeks
  • CRN 54355
  • $787.70
Class meeting times
Dates Days Times Locations
Apr 24 - Aug 14 Mon 18:30 - 22:15 Burnaby SE06 Rm. 204
Instructor

Ron Messer

Course outline

View

Credits

5.5

Cost

$787.70

Important information
  1. Class WILL NOT be held on Monday, May 22nd (Victoria Day), Monday July 3rd (in lieu of Canada Day) & Monday August 7th (BC Day).
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 4110 for the Fall 2023 term.

CRN 31293

Duration

Tue Sep 05 - Tue Dec 05 (14 weeks)

  • 14 weeks
  • CRN 31293
  • $805.60
Class meeting times
Dates Days Times Locations
Sep 05 - Dec 05 Tue 18:00 - 21:45 Burnaby SW01 Rm. 2016
Instructor

Ron McGregor

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

5.5

Cost

$805.60

Status

CRN 30765

Duration

Wed Sep 06 - Wed Dec 06 (14 weeks)

  • 14 weeks
  • CRN 30765
  • $791.85
Class meeting times
Dates Days Times Locations
Sep 06 - Dec 06 Wed 17:30 - 21:15 Downtown DTC Rm. 810
Instructor

Trevor Jang

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

5.5

Cost

$791.85

Status

CRN 32089

Duration

Thu Sep 07 - Thu Dec 07 (14 weeks)

  • 14 weeks
  • CRN 32089
  • $791.85
Class meeting times
Dates Days Times Locations
Sep 07 - Oct 19 Thu 17:30 - 21:15 Online DTC
Oct 26 Thu 17:30 - 21:15 Downtown DTC Rm. 385
Nov 02 Thu 17:30 - 21:15 Downtown DTC Rm. 385
Nov 09 - Nov 30 Thu 17:30 - 21:15 Online
Dec 07 Thu 17:30 - 21:15 Downtown DTC Rm. 385
Instructor

Trevor Jang

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

5.5

Cost

$791.85

Status

CRN 32622

Duration

Sat Sep 09 - Sat Dec 16 (13 weeks)

  • 13 weeks
  • CRN 32622
  • $805.60
Class meeting times
Dates Days Times Locations
Sep 09 - Dec 16 Sat 09:00 - 13:00 Burnaby SW01 Rm. 2045
Instructor

Ron McGregor

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

5.5

Cost

$805.60

Important information
  1. Class WILL NOT be held on Saturday, September 30th (National Day for Truth and Reconciliation) & Saturday, November 11th (Remembrance Day).
Status

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Explain the significance and implications of Big Data and Artificial Intelligence as they impact the future required competencies and role of professional accountants.
  • Identify and explain the accounting concepts and principles that support the treatments of economic events under IFRS and ASPE.
  • Explain the significance of professional judgment, professional ethics and the hierarchy of authoritative guidance.
  • Distinguish financial and non-financial liabilities; identify more common current liabilities; apply first principles in recognition of non-financial liabilities; handling asset retirement obligations under IFRS and ASPE.
  • Apply first principles of liability recognition and presentation to unstructured economic situations and propose/justify treatments in the context of first principles.
  • Identify primary sources of long-term financing and apply measurement and reporting of issuing, maintaining and pre-mature redemption of bonds. Apply the fair valuation of debt under IFRS.
  • Identify and account for multiple types of capital transactions and classifications that comprise Shareholders' Equity with emphasis on the continuity format with which all shareholder accounts are presented.
  • Define derivatives and identify and value financial instruments that comprise both debt and equity components and the disposition of each component; reinforcing the notion of substance over legal form in financial reporting and applying IFRS guidance.
  • Explain and apply share-based compensation arrangements.
  • Calculate and present basic and diluted earnings-per-share, with multiple dilutive items.
  • Identify the primary components comprising the overall income tax provision (expense) determination. Apply the reconciliation of accounting to taxable income; the identification of permanent and temporary differences in tax/accounting recognition and determination of deferred tax balances arising from temporary differences and the impact on calculating the overall tax provision; re-measurement of temporary differences and consequent deferred tax reporting in future periods.
  • Apply tax losses for prior tax recovery and determine the extent to which a deferred tax asset can be recognized through loss carry-forwards.
  • Describe the primary pension plans in Canada and apply the fundamental defined benefit pension model under the IFRS and ASPE requirements; develop the pension expense, and note disclosure.
  • Describe the purpose of leases, the symmetry of this reporting standard as between lessee and lessor. Apply the criteria for lease capitalization and the variant reporting treatments reflecting the underlying lease agreement; guaranteed and unguaranteed residual value, bargain purchase option arrangements under IFRS 16.
  • Describe and apply leases reporting on the part of the lessor; derive lease quotes including executor costs; distinguish direct financing and sales-type leases.
  • Apply the guidance for accounting changes; changes in estimates, changes in accounting policies and treatment of material prior period errors.
  • Become competent in the preparation of the Statement of Cash Flows (SCF) and related disclosures under both the cash from operations Direct and Indirect methods and incorporating topics discussed throughout the course as they impact the SCF.
  • Describe the issues related to interim reporting, segmented reporting, subsequent events and discuss the nature and purpose of ever increasingly important Notes to the Financial Statements.

Effective as of Winter 2020

Related Programs

Financial Accounting 2 (FMGT 4110) is offered as a part of the following programs:

School of Business + Media

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

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