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

BCIT

FMGT 3110 - Financial Accounting 1

Financial Management Part-time Studies Course

School of Business

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

Credits

4.0

Cost

$715.32 - $723.01 See individual course offerings below for actual costs.

Spring/Summer 2018

Below are four offerings of this course for the Spring/Summer 2018 term.

CRN 21042

Start any time

This is a distance learning course. Start any time. You have 30 weeks from the date you register to complete this course.

Instructor

Nadine Barrett

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$721.03

Notes

  1. Correspondence format.
  2. A textbook AND an assignment package are necessary to proceed with the course and may be purchased in person at the BCIT Burnaby Annex (NE9-160) or online ***Please note that both the midterm and the final exams are 3 hours in length and exams will be written at one of our BCIT Test Centre locations in either Burnaby, Richmond or Delta only. There is a fee to write these exams.
  3. Important course information will be sent to you immediately after registering. Check your myBCIT email account to access this information.

CRN 26165

Sat Apr 14 - Sat Jul 28 14 Weeks

Class Meeting Times

Dates Days Times Locations
Apr 14 - Jul 28 Sat 09:00 - 12:45 BBY SE06 Rm. 207

Instructor

Ron McGregor

Course Outline

Cost

$721.03

Notes

  1. Class will not be held on Saturday, May 19th and Saturday, May 26th

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

In Progress

CRN 20424

Fri May 11 - Fri Aug 17 14 Weeks

Class Meeting Times

Dates Days Times Locations
May 11 - Aug 17 Fri 13:30 - 17:15 DTC Rm. 810

Instructor

Shiraz Charania

Course Outline

Cost

$715.32

Notes

  1. Class will not be held May 25th.

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

In Progress

CRN 64381

Tue May 29 - Tue Aug 21 13 Weeks

Class Meeting Times

Dates Days Times Locations
May 29 - Jul 20 Tue 13:00 - 17:00 BBY SW01 Rm. 2005
Jul 23 - Aug 21 Tue 13:00 - 17:00 BBY SW01 Rm. 3190

Instructor

Shiraz Charania

Course Outline

Cost

$721.03

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

In Progress

Fall 2018

Below are four offerings of this course for the Fall 2018 term.

CRN 31290

Sat Sep 08 - Sat Dec 08 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 08 - Dec 08 Sat 09:00 - 12:45 BBY SW01 Rm. 2030

Instructor

Andy Chen

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$723.01

Notes

  1. /

CRN 30759

Wed Sep 12 - Wed Dec 12 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 12 - Dec 12 Wed 18:00 - 21:45 BBY SE06 Rm. 206

Instructor

Michelle Miller

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$723.01

CRN 40993

Thu Sep 13 - Thu Dec 13 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 13 - Dec 13 Thu 09:00 - 12:45 DTC Rm. 840

Instructor

Ron McGregor

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$715.87

CRN 30757

Tue Sep 04 - Mon Dec 17 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 04 - Dec 17 Mon 18:00 - 21:45 BBY SW03 Rm. 1710

Instructor

Barb Fellnermayr

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$723.01

Notes

  1. First class will run on Tuesday September 4th No class October 8 or November 12 due to stat holiday.

This course offering is full. Please check this page for other currently available offerings 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

  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

Books & Supplies

The BCIT bookstore carries textbooks, general reference books, software, and stationery. Please visit bcit.ca/bookstore for more information.

Spring/Summer 2018

Books for Spring/Summer 2018 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
Intermediate Accounting Vol 1 W. Wileyplus, 11Th Edition
Author Kieso
Copyright 2016
Binding Hardback
ISBN 978-1-11925-126-2
Price $147.95
Required

Image not available
Intermediate Accounting Vol 1 & 2 W/ Wileyplus Pkg
Author Kieso
Copyright 2016
Binding Kit/Set/Package
ISBN 978-1-11925-513-0
Price $245.95
Optional

Intermediate Accounting, 11th Canadian Edition, Volume 1 Study Guide
Author Donald E. Kieso
Publisher Wiley
Copyright 2016
Binding Paperback
ISBN 978-1-11927-439-1
Price $49.50
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
Intermediate Accounting Vol 1 W. Wileyplus, 11Th Edition
Author Kieso
Copyright 2016
Binding Hardback
ISBN 978-1-11925-126-2
Price $147.95
Required

Image not available
Intermediate Accounting Vol 1 & 2 W/ Wileyplus Pkg
Author Kieso
Copyright 2016
Binding Kit/Set/Package
ISBN 978-1-11925-513-0
Price $245.95
Optional

Intermediate Accounting, 11th Canadian Edition, Volume 1 Study Guide
Author Donald E. Kieso
Publisher Wiley
Copyright 2016
Binding Paperback
ISBN 978-1-11927-439-1
Price $49.50
Optional

Fall 2018

Books for Fall 2018 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: Intermediate Accounting, Vol 1 W Etext & Wileyplus, 11Th Cdn
Author Kieso
Copyright 2017
Binding Digital Version
ISBN 978-1-11938-941-5
Price $95.50
Choose One

Image not available
Intermediate Accounting Vol 1 W. Wileyplus, 11Th Edition
Author Kieso
Copyright 2016
Binding Hardback
ISBN 978-1-11925-126-2
Price $147.95
Choose One

Image not available
Intermediate Accounting Vol 1 & 2 W/ Wileyplus Pkg
Author Kieso
Copyright 2016
Binding Kit/Set/Package
ISBN 978-1-11925-513-0
Price $245.95
Optional

Intermediate Accounting, 11th Canadian Edition, Volume 1 Study Guide
Author Donald E. Kieso
Publisher Wiley
Copyright 2016
Binding Paperback
ISBN 978-1-11927-439-1
Price $49.50
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: Intermediate Accounting, Vol 1 W Etext & Wileyplus, 11Th Cdn
Author Kieso
Copyright 2017
Binding Digital Version
ISBN 978-1-11938-941-5
Price $95.50
Choose One

Image not available
Intermediate Accounting Vol 1 W. Wileyplus, 11Th Edition
Author Kieso
Copyright 2016
Binding Hardback
ISBN 978-1-11925-126-2
Price $147.95
Choose One

Image not available
Intermediate Accounting Vol 1 & 2 W/ Wileyplus Pkg
Author Kieso
Copyright 2016
Binding Kit/Set/Package
ISBN 978-1-11925-513-0
Price $245.95
Optional

Intermediate Accounting, 11th Canadian Edition, Volume 1 Study Guide
Author Donald E. Kieso
Publisher Wiley
Copyright 2016
Binding Paperback
ISBN 978-1-11927-439-1
Price $49.50
Optional

Subscribe

Interested in being notified about future offerings of FMGT 3110 - Financial Accounting 1? If so, fill out the information below and we'll notify you by email when courses for each new term are displayed here.

Contact Information

Suggest course days and times

If you are interested in taking this course on-campus (classroom delivery only) and would like to see it offered on specific days and/or at specific times, please indicate your preferences below. Day and time suggestions are not applicable to online courses.

The personal information on this form is collected under the authority of the College and Institute Act (RSBC 1996, Ch.52). BCIT will use this information to communicate with you regarding relevant BCIT programs, courses and services. This information is only used by authorized BCIT staff. Email communication sent to and from BCIT is routed through the United States of America. If you have any questions about BCIT's collection and use of this information, please contact BCIT’s manager of Information Access and Privacy.

Programs and courses are subject to change without notice.

Find Courses

Payment Changes At BCIT

We've changed the way we accept payments.

Find out more

Course Navigation, Related Links & Tools

Registration News

Registration is now open for the Fall 2018 term.

Classroom Locations

Classroom locations are subject to last minute changes. Please check the Part-time Studies Classroom Locations listing at www.bcit.ca/rooms on the first day of any course you are registered for.

Part-time Studies Financial Aid

Will you be studying at BCIT part-time? Do you need assistance funding your studies? Find out if you qualify for Part-time Studies financial aid ›

© BCIT