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.
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/”
Important course information will be sent to you prior to your course start
date. Check your myBCIT email account to
access this information.
Status
This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.
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.
Important course information will be sent to you prior to your course start
date. Check your myBCIT email account to
access this information.
Status
This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.
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. "
Important course information will be sent to you prior to your course start
date. Check your myBCIT email account to
access this information.
Status
This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.
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.
Status
A portion of seats are temporarily held for domestic students.
International students: this may impact your ability to register.
Learn why.
}
Status
This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)
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.
Status
A portion of seats are temporarily held for domestic students.
International students: this may impact your ability to register.
Learn why.
}
Status
This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)
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.
Status
A portion of seats are temporarily held for domestic students.
International students: this may impact your ability to register.
Learn why.
}
Status
This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)
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).
Status
A portion of seats are temporarily held for domestic students.
International students: this may impact your ability to register.
Learn why.
}
Status
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:
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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).
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.