British Columbia Institute of Technologywww.bcit.ca/study/courses/fmgt4110

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BCIT

FMGT 4110 - Financial Accounting 2

Financial Management Part-time Studies Course

School of Business + Media

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

This is the second of two courses in intermediate accounting designed to prepare the student to enter a professional accounting program at the intermediate level. FMGT 4110 covers significant aspects of the liabilities and equity section of the balance sheet, and the related income statement accounts. Both International Financial Reporting Standards (IFRS) and Private Enterprise GAAP (PE GAAP) will be examined.

Prerequisite(s)

FMGT 3110

Credits

5.5

Cost

$745.04 - $755.04 See individual course offerings below for actual costs.

Winter 2021

Below are three offerings of this course for the Winter 2021 term.

CRN 10239

Mon Jan 04 - Mon Apr 19 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 04 - Apr 19 Mon 18:00 - 21:45 Online Delivery
See Notes below

Instructor

Ron Messer

Course Outline

Cost

$755.04

Notes

  1. 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.
  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

CRN 47587

Wed Jan 06 - Wed Apr 07 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 06 - Apr 07 Wed 18:00 - 21:45 Online Delivery
See Notes below

Instructor

Jennifer Scharf

Course Outline

Cost

$755.04

Notes

  1. 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. There will also be specific deadlines for assignments and exams. 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.
  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

CRN 10237

Thu Jan 07 - Thu Apr 08 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 07 - Apr 08 Thu 17:30 - 21:15 Online Delivery
See Notes below

Instructor

Trevor Jang

Course Outline

Cost

$745.04

Notes

  1. 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. Due to high volume at the Downtown Campus during term start, students are advised to purchase their textbook either online or at the Burnaby Bookstore prior to the first class.
  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

Spring/Summer 2021

Below are three offerings of this course for the Spring/Summer 2021 term.

CRN 23139

Wed Apr 07 - Wed Jul 07 14 Weeks

Class Meeting Times

Dates Days Times Locations
Apr 07 - Jul 07 Wed 18:00 - 21:45 Online Delivery
See Notes below

Instructor

Ron McGregor

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$755.04

Notes

  1. 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.

}

4 seats remaining as of Feb 25, 2021 10:24 pm (PST). These seats are currently reserved for domestic students only. Availability may change at any time.

CRN 21380

Mon Jun 14 - Thu Aug 05 8 Weeks

Class Meeting Times

Dates Days Times Locations
Jun 14 - Aug 05 Mon/Thu 18:00 - 21:45 Online Delivery
See Notes below

Instructor

Ron McGregor

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$755.04

Notes

  1. 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 on Thursday, July 1st (Canada Day), and Monday, August 2nd (BC Day)

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

}

5 seats remaining as of Feb 25, 2021 10:24 pm (PST). Availability may change at any time.

CRN 54355

Wed Apr 21 - Wed Jul 21 14 Weeks

Class Meeting Times

Dates Days Times Locations
Apr 21 - Jul 21 Wed 18:30 - 22:15 Online Delivery
See Notes below

Instructor

Ron Messer

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$755.04

Notes

  1. 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.

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 this course, the student will be able to:

  • Explain the significance and implications of Big Data and Artificial Intelligence as they impact the future required competencies and role of professional accountants.
  • Identify and explain the accounting concepts and principles that support the treatments of economic events under IFRS and ASPE.
  • Explain the significance of professional judgment, professional ethics and the hierarchy of authoritative guidance.
  • Distinguish financial and non-financial liabilities; identify more common current liabilities; apply first principles in recognition of non-financial liabilities; handling asset retirement obligations under IFRS and ASPE.
  • Apply first principles of liability recognition and presentation to unstructured economic situations and propose/justify treatments in the context of first principles.
  • Identify primary sources of long-term financing and apply measurement and reporting of issuing, maintaining and pre-mature redemption of bonds. Apply the fair valuation of debt under IFRS.
  • Identify and account for multiple types of capital transactions and classifications that comprise Shareholders' Equity with emphasis on the continuity format with which all shareholder accounts are presented.
  • Define derivatives and identify and value financial instruments that comprise both debt and equity components and the disposition of each component; reinforcing the notion of substance over legal form in financial reporting and applying IFRS guidance.
  • Explain and apply share-based compensation arrangements.
  • Calculate and present basic and diluted earnings-per-share, with multiple dilutive items.
  • Identify the primary components comprising the overall income tax provision (expense) determination. Apply the reconciliation of accounting to taxable income; the identification of permanent and temporary differences in tax/accounting recognition and determination of deferred tax balances arising from temporary differences and the impact on calculating the overall tax provision; re-measurement of temporary differences and consequent deferred tax reporting in future periods.
  • Apply tax losses for prior tax recovery and determine the extent to which a deferred tax asset can be recognized through loss carry-forwards.
  • Describe the primary pension plans in Canada and apply the fundamental defined benefit pension model under the IFRS and ASPE requirements; develop the pension expense, and note disclosure.
  • Describe the purpose of leases, the symmetry of this reporting standard as between lessee and lessor. Apply the criteria for lease capitalization and the variant reporting treatments reflecting the underlying lease agreement; guaranteed and unguaranteed residual value, bargain purchase option arrangements under IFRS 16.
  • Describe and apply leases reporting on the part of the lessor; derive lease quotes including executor costs; distinguish direct financing and sales-type leases.
  • Apply the guidance for accounting changes; changes in estimates, changes in accounting policies and treatment of material prior period errors.
  • Become competent in the preparation of the Statement of Cash Flows (SCF) and related disclosures under both the cash from operations Direct and Indirect methods and incorporating topics discussed throughout the course as they impact the SCF.
  • Describe the issues related to interim reporting, segmented reporting, subsequent events and discuss the nature and purpose of ever increasingly important Notes to the Financial Statements.

Effective as of Winter 2020

Related Programs

FMGT 4110 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

Books & Supplies

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

Winter 2021

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: Intermediate Accounting Vol 2, 12Th Ce W Ng Wileyplus
Author Kieso
Copyright 2019
Binding Digital Version
ISBN 978-1-11949-717-2
Price $94.95
Choose One

Image not available
Intermediate Accounting Vol 2, 12Th Ce W. Ng Wileyplus - Llv
Author Kieso
Copyright 2019
Binding Kit/Set/Package
ISBN 978-1-11949-736-3
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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