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

Important Notice: Weather Update: Feb 24, 2:00 pm - BCIT is OPEN

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 - $721.03 See individual course offerings below for actual costs.

Winter 2018

Below are five offerings of this course for the Winter 2018 term.

CRN 11265

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. ***IMPORTANT PLEASE READ*** THIS COURSE MAY NOT BE AUDITED Students must purchase the textbook AND the assignment & information package (paper course materials) in order to proceed. These can either be mailed to you or picked up at the Burnaby campus bookstore/annex or online at www.bcitbookstore.ca/distance/ Mandatory prerequisites: FMGT 1100 and FMGT 2100.
  3. Important course information will be sent to you immediately after registering. Check your myBCIT email account to access this information.

CRN 11266

Start any time

This is a distance learning course. Start any time. You have 24 weeks from the date you register to complete this course.

Instructor

Nadine Barrett

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$90.59

Notes

  1. Available for re-registration (course extension) only.
  2. Departmental approval needed
  3. This section is for current FMGT3110 correspondence students ONLY that require an additional 24 weeks to complete their course. Contract ruth_mackay@bcit.ca for approval.
  4. Important course information will be sent to you immediately after registering. Check your myBCIT email account to access this information.

CRN 15544

Sat Jan 06 - Sat Apr 07 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 06 - Apr 07 Sat 09:00 - 12:45 BBY SE06 Rm. 205

Instructor

Trevor Jang

Course Outline

Cost

$721.03

Notes

  1. Class will be held Satuday, February 11th.

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

In Progress

CRN 14878

Tue Jan 09 - Tue Apr 10 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 09 - Apr 10 Tue 18:00 - 21:45 BBY SW01 Rm. 2045

Instructor

Michelle Miller

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

CRN 15272

Wed Jan 10 - Wed Apr 11 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 10 - Apr 11 Wed 18:00 - 21:45 BBY SE06 Rm. 205

Instructor

Michelle Miller

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

Spring/Summer 2018

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

CRN 20421

Tue Apr 10 - Tue Jul 10 14 Weeks

Class Meeting Times

Dates Days Times Locations
Apr 10 - Jul 10 Tue 18:00 - 21:45 BBY SW01 Rm. 2005

Instructor

Andy Chen

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$721.03

CRN 26165

Sat Apr 14 - Sat Jul 14 14 Weeks

Class Meeting Times

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

Instructor

Ron McGregor

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$721.03

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

TBD – see Learning Outcomes in the interim

Cost

$715.32

Notes

  1. Class will not be held May 25th.

CRN 64381

Tue May 29 - Tue Aug 21 13 Weeks

Class Meeting Times

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

Instructor

Shiraz Charania

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$721.03

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.

Winter 2018

Books for Winter 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 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

Spring/Summer 2018

No information on books is currently available for Spring/Summer 2018 offerings of this course.

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 Spring/Summer 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