Course Overview
Financial Accounting establishes a foundation in accounting concepts and principles upon which the appropriate recognition, measurement, and presentation of a wide variety of routine, and non-routine transactions, are evaluated. Students are provided with the knowledge to prepare financial statements for proprietorships, partnerships, and corporations, in accordance with the appropriate standard (IFRS or ASPE), and interpret the results. Once a thorough understanding of these topics has been established, the treatment of more complex topics will be explored in depth. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountants (CPA) Professional Education Program (PEP).
Prerequisite(s)
- No prerequisites are required for this course.
Credits
4.0
Domestic fees
$967.74
International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Learning Outcomes
Upon successful completion, the student will be able to:
- Evaluate the nature and purpose of accounting information.
- Apply generally accepted accounting principles in the analysis and recording of business transactions for service and merchandising operations under Generally Accepted Accounting Principles (GAAP).
- Apply each step of the accounting cycle.
- Generate financial statements (Income Statement, Statement of Retained Earnings, Balance Sheet and Statement of Cash Flows), and interpret the results.
- Analyze financial statements using vertical, horizontal, and ratio analysis.
- Describe accounting information systems.
- Compare and contrast the three basic forms of business organization (proprietorships, partnerships, and corporations).
- Assess the need for internal controls and apply them to cash and cash equivalents.
- Define common types of receivables and use the allowance method to account for uncollectible amounts.
- Apply appropriate measurement to property, plant, and equipment.
- Assess the purpose and demonstrate the calculation of amortization (straight-line, units-of-production, and declining-balance methods).
- Define goodwill and amortize intangible assets.
- Assess the appropriate treatment of known, estimated, and contingent liabilities.
- Demonstrate the accounting required for shareholders' equity of a corporation.
- Evaluate the accounting treatment of bonds and leases.
- Analyze and record transactions for short and long-term investments.
- Apply the equity method to account for investments with significant influence.
- Analyze and record foreign currency transactions.
Effective as of Fall 2023
Course Offerings
Winter 2026
Below is one offering of ACCG 5110 for the Winter 2026 term.
CRN 89765
Dates
Jan 07 - Apr 22 Loading
- CRN 89765
- $967.74 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Jan 07 - Apr 22 | Wed | 18:00 - 22:00 | Burnaby SW01 Rm. 3155 |
Duration
15 weeks
Instructor
Vnit Nath
Course outline
Important information
- Class will NOT be held for the following date: March 11 (BCIT Spring Break) This course fulfills the CPA prerequisite for Taxation. This course CANNOT be transferred into the Accounting nor Finance Diploma.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
Spring/Summer 2026
Below is one offering of ACCG 5110 for the Spring/Summer 2026 term.
CRN 64860
Dates
May 05 - Aug 11 Loading
- CRN 64860
- $967.74 Domestic fees
Class meeting times
Duration
15 weeks
Instructor
Vnit Nath
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- This course fulfills the CPA prerequisite for Introductory Financial Accounting. This course CANNOT be transferred into the Accounting nor Finance Diploma.
Confirmation
Required
To proceed with registration and add this course to the cart, please confirm:
Status
Programs and courses are subject to change without notice. Find out more about BCIT course cancellations.