FMGT 3110 - Financial Accounting 1
Financial Management Part-time Studies Course
School of Business + Media
To support you and your education, BCIT is adapting applied learning in formats appropriate to the unfolding global situation. Spring and Summer PTS classes are being delivered in an online format unless you are notified otherwise.
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.
Prerequisite(s)
FMGT 2100 or FMGT 2105 or ACCG 5110
Credits
4.0
Cost
$744.72 - $754.72 See individual course offerings below for actual costs.
Spring/Summer 2020
Below is one offering of this course for the Spring/Summer 2020 term.
CRN 64381
Duration
Thu Jun 04 - Thu Aug 27 13 Weeks
Class Meeting Times
| Dates | Days | Times | Locations |
| Jun 04 - Aug 27 | Thu | 13:00 - 17:00 | BBY Online Delivery |
Instructor
Shiraz Charania
Course Outline
Cost
$752.69
Status
This course offering is in progress. Please check back next term or subscribe to receive email updates.
In Progress
Fall 2020
Below are four offerings of this course for the Fall 2020 term.
CRN 30757
Duration
Tue Sep 08 - Mon Dec 14 14 Weeks
Class Meeting Times
| Dates | Days | Times | Locations |
| Sep 08 - Dec 14 | Mon | 18:00 - 21:45 | BBY Online Delivery |
Instructor
Barb Fellnermayr
Course Outline
TBD – see Learning Outcomes in the interim
Cost
$754.72
Notes
- First class will be held on Tuesday, September 8th. Class WILL NOT be held on Monday, October 12th (Thanksgiving)
Status
This course offering is full. Please check back next term or subscribe to receive email updates.
Full
CRN 30759
Duration
Wed Sep 09 - Wed Dec 16 14 Weeks
Class Meeting Times
| Dates | Days | Times | Locations |
| Sep 09 - Dec 16 | Wed | 18:00 - 21:45 | BBY Online Delivery |
Instructor
Michelle Miller
Course Outline
TBD – see Learning Outcomes in the interim
Cost
$754.72
Notes
- Class WILL NOT be held on November 11th (Remembrance Day)
Status
This course offering is full. Please check back next term or subscribe to receive email updates.
Full
CRN 40993
Duration
Thu Sep 10 - Thu Dec 10 14 Weeks
Class Meeting Times
| Dates | Days | Times | Locations |
| Sep 10 - Dec 10 | Thu | 09:00 - 12:45 | DTC Online Delivery |
Instructor
Ron McGregor
Course Outline
TBD – see Learning Outcomes in the interim
Cost
$744.72
Status
This course offering is full. Please check back next term or subscribe to receive email updates.
Full
CRN 31290
Duration
Sat Sep 12 - Sat Dec 12 14 Weeks
Class Meeting Times
| Dates | Days | Times | Locations |
| Sep 12 - Dec 12 | Sat | 09:00 - 12:45 | BBY Online Delivery |
Instructor
Sue Hsiu Ming Tsiang
Course Outline
TBD – see Learning Outcomes in the interim
Cost
$754.72
Notes
- /
Status
This course offering is full. Please check back next term or subscribe to receive email updates.
Full
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
FMGT 3110 is offered as a part of the following programs:
School of Business + Media
- Accounting
Full-time Diploma - Accounting
Part-time Diploma - Finance
Full-time Diploma - Finance
Part-time Diploma - Financial Management (Finance Option)
Part-time Certificate - Financial Management (Professional Accounting Option)
Part-time Certificate - Financial Planning
Part-time Diploma - Professional Accounting
Part-time Advanced Diploma
Books & Supplies
The BCIT bookstore carries textbooks, general reference books, software, and stationery. Please visit bcit.ca/bookstore for more information.
Spring/Summer 2020
Books for Spring/Summer 2020 offerings of this course are available in the following BCIT online bookstores. Please choose the bookstore appropriate for the offering you are considering.
BCIT Downtown Campus Bookstore
If you are taking this course at the BCIT Downtown Campus (DTC), please purchase books for this course at the BCIT Downtown Campus Bookstore.
Image not available
| Cei Digital: Wileyplus Ng For Intermediate Accounting, 12 Ce Vol 1 | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Digital Version |
| ISBN | 978-1-11949-654-0 |
| Price | $94.95 |
| Choose One | |
Image not available
| Intermediate Accounting, Vol 1 & 2 Ll W. Wileyplus Ng, 12Th Ce | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Kit/Set/Package |
| ISBN | 978-1-11965-042-3 |
| Price | $245.95 |
| Choose One | |
Image not available
| Intermediate Accounting, Vol 1 Ll W. Wileyplus Ng, 12Th Ce | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Kit/Set/Package |
| ISBN | 978-1-11949-651-9 |
| Price | $141.95 |
| Choose One | |
Fall 2020
Books for Fall 2020 offerings of this course are available in the following BCIT online bookstores. Please choose the bookstore appropriate for the offering you are considering.
BCIT Downtown Campus Bookstore
If you are taking this course at the BCIT Downtown Campus (DTC), please purchase books for this course at the BCIT Downtown Campus Bookstore.
Image not available
| Cei Digital: Wileyplus Ng For Intermediate Accounting, 12 Ce Vol 1 | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Digital Version |
| ISBN | 978-1-11949-654-0 |
| Price | $94.95 |
| Choose One | |
Image not available
| Intermediate Accounting, Vol 1 Ll W. Wileyplus Ng, 12Th Ce | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Kit/Set/Package |
| ISBN | 978-1-11949-651-9 |
| Price | $141.95 |
| Choose One | |
Image not available
| Intermediate Accounting, Vol 1 & 2 Ll W. Wileyplus Ng, 12Th Ce | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Kit/Set/Package |
| ISBN | 978-1-11965-042-3 |
| Price | $245.95 |
| Optional | |
BCIT Burnaby Bookstore
If you are taking this course, but are not taking it through either Distance Education or Online Learning, nor at the BCIT Downtown Campus (DTC), please purchase books for this course at the BCIT Burnaby Bookstore.
Image not available
| Cei Digital: Wileyplus Ng For Intermediate Accounting, 12 Ce Vol 1 | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Digital Version |
| ISBN | 978-1-11949-654-0 |
| Price | $94.95 |
| Choose One | |
| Intermediate Accounting, Vol 1 & 2 Ll W. Wileyplus Ng, 12Th Ce | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Kit/Set/Package |
| ISBN | 978-1-11965-042-3 |
| Price | $245.95 |
| Choose One | |
| Intermediate Accounting, Vol 1 Ll W. Wileyplus Ng, 12Th Ce | |
|---|---|
| Author | Kieso |
| Copyright | 2019 |
| Binding | Kit/Set/Package |
| ISBN | 978-1-11949-651-9 |
| Price | $141.95 |
| Choose One | |
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