British Columbia Institute of Technologywww.bcit.ca/study/courses/fmgt3110

Important Notice: COVID-19 Institute response

BCIT

FMGT 3110 - Financial Accounting 1

Financial Management Part-time Studies Course

School of Business + Media

BCIT is planning for a substantial return to on-campus activity for the fall 2021 term as informed by BC Public Health Officer guidelines. Refer to each course listing for details.

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

$759.27 - $770.70 See individual course offerings below for actual costs.

Fall 2021

Below are four offerings of this course for the Fall 2021 term.

CRN 30757

Tue Sep 07 - Mon Dec 13 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 07 - Dec 13 Mon 18:00 - 21:45 Online
Oct 25 Mon 18:00 - 21:45 Online SW01 Rm. 2030
Nov 01 Mon 18:00 - 21:45 Online SW01 Rm. 2005
Dec 13 Mon 18:00 - 21:45 Online SE06 Rm. 206

Instructor

Barb Fellnermayr

Course Outline

Cost

$770.70

Notes

  1. Internet delivery format.
  2. First class will be held on Tuesday, September 7th. Class WILL NOT be held on Monday, October 11th (Thanksgiving). The following dates will be HELD IN CLASS Midterm: October 25th, Midterm Review: November 1st & Final: December 13th This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. “Students must have the following technology capabilities throughout the course - https://www.bcit.ca/files/business/pdf/bcit-sobm-byod.pdf - in particular: · Computer with sufficient RAM · Reliable WiFi/Internet access · Webcam, microphone and speaker More information can be found on BCIT's Student Technology Requirements and Discounts website: https://www.bcit.ca/it-services/student-discounts/”
  3. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.

This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.

In Progress

CRN 30759

Wed Sep 08 - Wed Dec 08 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 08 - Dec 08 Wed 18:00 - 21:45 Online
Oct 20 - Oct 27 Wed 18:00 - 21:45 Distance SE06 Rm. 205
Dec 08 Wed 18:00 - 21:45 Distance SE06 Rm. 205

Instructor

Michelle Miller

Course Outline

Cost

$770.70

Notes

  1. Internet delivery format.
  2. The following dates will be HELD IN CLASS: Midterm: October 20th, Midterm Review: October 27th & Final: December 8th. This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date.
  3. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.

This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.

In Progress

CRN 40993

Thu Sep 09 - Thu Dec 16 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 09 - Oct 14 Thu 09:00 - 12:45 Online
Oct 21 - Oct 28 Thu 09:00 - 12:45 Distance DTC Rm. 483
Nov 04 - Dec 09 Thu 09:00 - 12:45 Online
Dec 16 Thu 09:00 - 12:45 Distance DTC Rm. 483

Instructor

Ron McGregor

Course Outline

Cost

$759.27

Notes

  1. Internet delivery format.
  2. Class WILL NOT be held on September 30th (National Day for Truth and Reconciliation) & Thursday, November 11th (Remembrance Day). The following dates will be HELD IN CLASS: Midterm: October 21st, Midterm Review: October 28th & Final: December 16th. This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. "
  3. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.

This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.

In Progress

CRN 31290

Sat Sep 11 - Sat Dec 11 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 11 - Dec 11 Sat 09:00 - 12:45 BBY SW01 Rm. 4076

Instructor

Sue Hsiu Ming Tsiang

Course Outline

Cost

$770.70

Notes

  1. /
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.

This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.

In Progress

Winter 2022

Below are four offerings of this course for the Winter 2022 term.

CRN 14878

Tue Jan 04 - Tue Apr 05 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 04 - Apr 05 Tue 18:00 - 21:45 Online

Instructor

Michelle Miller

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$770.70

Notes

  1. Internet delivery format.
  2. EXAMS AND MIDTERM DEBRIEFING WILL BE HELD IN-CLASS AT THE BURNABY CAMPUS. THESE WILL BE HOSTED ON A SCHEDULED TUESDAY. THE SPECIFIC DATES FOR THESE ARE TO BE ANNOUNCED. This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date.

A portion of seats are temporarily held for domestic students. International students: this may impact your ability to register. Learn why.

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This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)

Sneak Preview

CRN 15272

Wed Jan 05 - Wed Apr 06 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 05 - Apr 06 Wed 18:00 - 21:45 Online

Instructor

Michelle Miller

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$770.70

Notes

  1. Internet delivery format.
  2. EXAMS AND MIDTERM DEBRIEFING WILL BE HELD IN-CLASS AT THE BURNABY CAMPUS. THESE WILL BE HOSTED ON A SCHEDULED WEDNESDAY. THE SPECIFIC DATES FOR THESE ARE TO BE ANNOUNCED. This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date.

A portion of seats are temporarily held for domestic students. International students: this may impact your ability to register. Learn why.

}

This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)

Sneak Preview

CRN 15544

Sat Jan 08 - Sat Apr 09 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 08 - Apr 09 Sat 09:00 - 12:45 Online

Instructor

Trevor Jang

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$770.70

Notes

  1. Internet delivery format.
  2. Exams will be HELD IN-CLASS on the following dates at the Burnaby Campus: Midterm: February 19th Final: April 9th This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date.

A portion of seats are temporarily held for domestic students. International students: this may impact your ability to register. Learn why.

}

This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)

Sneak Preview

CRN 12991

Mon Jan 10 - Mon Apr 25 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 10 - Apr 25 Mon 17:30 - 21:15 Online

Instructor

Sue Hsiu Ming Tsiang

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$759.27

Notes

  1. Internet delivery format.
  2. EXAMS WILL BE HELD IN-CLASS AT THE DOWNTOWN CAMPUS. THESE WILL BE HOSTED ON A SCHEDULED MONDAY THE SPECIFIC DATES FOR THESE ARE TO BE ANNOUNCED. This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. Class WILL NOT be held Monday, Feb. 21st (Family Day), or Monday, Apr. 18th (Easter Monday).

A portion of seats are temporarily held for domestic students. International students: this may impact your ability to register. Learn why.

}

This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)

Sneak Preview

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

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

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Registration News

Registration is currently open for the Fall 2021 term.

A sneak preview of Winter 2022 term courses is also now available here.

Students may register for Winter 2022 term courses online or by phone starting Wed, Oct 27 at 9:00 am (PDT).

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