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FMGT 1105 - Accounting 1 for Financial Management

Financial Management Part-time Studies Course

School of Business + Media

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Course Details

This course is the first of two designed to introduce the theoretical and practical foundations in accounting. Topics include accounting concepts and principles; income measurement; business transactions; adjusting and closing entries; financial statement preparation; the accounting cycle; merchandising operations; and accounting systems.

Credits

5.0

This course isn't currently offered through BCIT Part-time Studies. Please check back next term or subscribe to receive email updates.

Learning Outcomes

Upon successful completion, the student will be able to:

  • Evaluate the nature and purpose of accounting information including its limitations and basic concepts.
  • Apply generally accepted accounting principles in the analysis and recording of business transactions.
  • Apply the basic principles of double-entry bookkeeping to the recording of transactions for both a service and a merchandising business.
  • Prepare a trial balance.
  • Analyze and record adjusting entries for both service and merchandising operations.
  • Complete a worksheet.
  • Generate financial statements (Income Statement, Statement of Retained Earnings and the Balance Sheet) for a service and a merchandising business in compliance with Accounting Standards for Private Enterprises (ASPE).
  • Close the books.
  • Describe and differentiate the three forms of business organization.
  • Evaluate Accounting information systems and appreciate the need for internal control.

Effective as of Fall 2011

Related Programs

FMGT 1105 is offered as a part of the following programs:

School of Business + Media

  1. Accounting
    Full-time   Diploma
  2. Finance
    Full-time   Diploma
  3. Financial Planning
    Full-time   Diploma

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