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

Important Notice: COVID-19 Institute response

BCIT

FMGT 4110 - Financial Accounting 2

Financial Management Part-time Studies Course

School of Business + Media

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

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

$759.60 - $771.03 See individual course offerings below for actual costs.

Fall 2021

Below are four offerings of this course for the Fall 2021 term.

CRN 31293

Tue Sep 07 - Tue Dec 07 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 07 - Dec 07 Tue 18:00 - 21:45 Online

Instructor

Ron McGregor

Course Outline

Cost

$771.03

Notes

  1. Internet delivery format.
  2. The following dates will be HELD IN CLASS: Midterm: October 26th, Midterm Review: November 2nd & Final: December 7th. 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. "
  3. 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 and full. Please check this page for other currently available offerings or subscribe to receive email updates.

In Progress and Full

CRN 30765

Wed Sep 08 - Wed Dec 08 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 08 - Oct 20 Wed 17:30 - 21:15 Online
Oct 27 - Nov 03 Wed 17:30 - 21:15 Distance DTC Rm. 810
Nov 10 - Dec 01 Wed 17:30 - 21:15 Online
Dec 08 Wed 17:30 - 21:15 Distance DTC Rm. 810

Instructor

Trevor Jang

Course Outline

Cost

$759.60

Notes

  1. Internet delivery format.
  2. EXAMS WILL BE HELD IN CLASS. Midterm: October 27th Review of Midterm: November 3rd 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.
  3. 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 32089

Thu Sep 09 - Thu Dec 16 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 09 - Oct 21 Thu 17:30 - 21:15 Online
Oct 28 - Nov 04 Thu 17:30 - 21:15 Distance DTC Rm. 385
Nov 18 - Dec 09 Thu 17:30 - 21:15 Online
Dec 16 Thu 17:30 - 21:15 Distance DTC Rm. 385

Instructor

Trevor Jang

Course Outline

Cost

$759.60

Notes

  1. Internet delivery format.
  2. Class WILL NOT be held on September 30th (National Day for Truth and Reconciliation) & Thursday, November 11th (Remembrance Day). EXAMS WILL BE HELD IN CLASS. Midterm: October 28th Review of Midterm: November 4th 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.
  3. 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 and full. Please check this page for other currently available offerings or subscribe to receive email updates.

In Progress and Full

CRN 32622

Sat Sep 11 - Sat Dec 11 14 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 11 - Dec 11 Sat 09:00 - 12:45 Online
Oct 30 Sat 09:00 - 12:45 Distance SW01 Rm. 2020
Nov 06 Sat 09:00 - 12:45 Distance SW01 Rm. 2020
Dec 11 Sat 09:00 - 12:45 Distance SW01 Rm. 2020

Instructor

Ron McGregor

Course Outline

Cost

$771.03

Notes

  1. Internet delivery format.
  2. "The following dates will be HELD IN CLASS Midterm: October 30th Midterm Review: November 6th Final: December 11th 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. "
  3. 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

Winter 2022

Below are two offerings of this course for the Winter 2022 term.

CRN 10239

Mon Jan 10 - Mon Apr 25 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 10 - Apr 25 Mon 18:00 - 21:45 Online

Instructor

Ron Messer

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$771.03

Notes

  1. Internet delivery format.
  2. EXAMS WILL BE HELD IN-CLASS AT THE BURNABY 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).

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

}

This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)

Sneak Preview

CRN 47587

Wed Jan 12 - Wed Apr 13 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 12 - Apr 13 Wed 18:00 - 21:45 Online

Instructor

Shiraz Charania

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$771.03

Notes

  1. Internet delivery format.
  2. 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.

}

This section is only available for registration starting Wed, Oct 27 at 9:00 am (PDT)

Sneak Preview

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

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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).

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