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FMGT 1105 - Accounting 1 for Financial Management

Financial Management Part-time Studies Course

School of Business

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. Financial Management students need to achieve 65% or better to proceed into FMGT 2105.

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

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

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