To support you and your education, BCIT is adapting applied learning in formats appropriate to the unfolding global situation. All 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.
Class WILL NOT be held Monday, Feb. 15th (Family Day) and Monday, Apr. 5th (Easter Monday) 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.
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.
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.
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.
In Progress
Spring/Summer 2021
Below are four offerings of this course for the Spring/Summer 2021 term.
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
10 seats available as of Feb 25, 2021 11:15 pm (PST). Of these 10, 2 are currently reserved for domestic students only. Availability may change at any time.
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
21 seats available as of Feb 25, 2021 11:15 pm (PST). Of these 21, 13 are currently reserved for domestic students only. Availability may change at any time.
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
11 seats available as of Feb 25, 2021 11:15 pm (PST). Of these 11, 7 are currently reserved for domestic students only. Availability may change at any time.
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
23 seats available as of Feb 25, 2021 11:15 pm (PST). Of these 23, 13 are currently reserved for domestic students only. Availability may change at any time.
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:
Books for Winter 2021 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
$297.95
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
$151.95
Choose One
Spring/Summer 2021
No information on books is currently available for Spring/Summer 2021 offerings of this course.
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Registration is now open for the Spring/Summer 2021 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.