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

BCIT

FMGT 4110 - Financial Accounting 2

Financial Management Part-time Studies Course

School of Business

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

$715.62 - $721.33 See individual course offerings below for actual costs.

Spring/Summer 2018

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

CRN 21049

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

TBD

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$92.80

Notes

  1. Available for re-registration (course extension) only.
  2. Departmental approval needed
  3. This section is for CURRENT correspondence students (only) who require more time in which ot complete their course. This is a one time option only. Please contact the Department office by e-mail at 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 21380

Thu Jun 07 - Thu Jul 26 8 Weeks

Class Meeting Times

Dates Days Times Locations
Jun 07 - Jul 26 Mon/Thu 18:00 - 21:45 BBY SE06 Rm. 206

Instructor

Ron McGregor

Course Outline

Cost

$721.33

Notes

  1. No class July 2nd

CRN 23139

Wed Apr 11 - Wed Jul 11 14 Weeks

Class Meeting Times

Dates Days Times Locations
Apr 11 - Jul 11 Wed 18:00 - 21:45 BBY SE06 Rm. 204

Instructor

Ron McGregor

Course Outline

Cost

$721.33

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

In Progress

CRN 54355

Tue Apr 17 - Tue Jul 17 14 Weeks

Class Meeting Times

Dates Days Times Locations
Apr 17 - Jul 17 Tue 17:30 - 21:15 DTC Rm. 840

Instructor

Ron Messer

Course Outline

Cost

$715.62

Notes

  1. Please note that due to high volume at the downtown campus at term start, students are advised to purchase their textbooks prior to the first lecture at either the Burnaby or downtown campus bookstores.

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

Learning Outcomes

Upon successful completion of this 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.
  • Distinguish financial and non-financial liabilities; identify more common current liabilities; apply standards in recognition of non-financial liabilities.
  • Identify primary sources of long term financing and apply measurement and reporting of issuing, maintaining and pre-mature redemption of bonds.
  • Identify and account for multiple types of capital transactions and classifications that comprise Shareholders’ Equity.
  • 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.
  • Differentiate between various forms of derivative instruments.
  • Identify the conditions for and fundamentally apply Hedge Accounting.
  • Apply share-based compensation arrangements.
  • Calculate and present basic and diluted earnings per share.
  • Understand the primary components comprising the overall income tax provision (expense) determination; 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 of calculating the overall tax provision.
  • Handling the identification and recognition of tax losses.
  • Intra-period tax allocation in the Statement of Comprehensive Income presentation.
  • Apply the fundamental defined benefit pension model; develop the pension expense and related entry; apply related note disclosure.
  • Outline the purpose of leases, the requirements for capitalization by the lessee and the variant reporting treatments reflecting the underlying lease agreement; guaranteed residual value, bargain purchase option; sale-leaseback arrangements on the part of the lessee and sales-type leases. Understand the implications of IFRS16 effective January 1, 2019.
  • Develop and apply leases reporting on the part of the lessor; distinguish direct financing and sales-type leases.
  • Apply the guidance for accounting changes; changes in estimates, changes in accounting policies and material prior period errors. Prepare restated comparative Statement of Retained Earnings.
  • Preparation and disclosures of Statement of Cash Flows under both direct and indirect operations formats at an advanced level, incorporating topics throughout this course and prior accounting courses.
  • Discuss significant other reporting issues; Note Disclosures, Interim and Segmented Reporting, Subsequent Events, Related Party Transactions.

Effective as of Winter 2017

Related Programs

FMGT 4110 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.

Spring/Summer 2018

Books for Spring/Summer 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 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
Intermediate Accounting Vol 2 W. Wileyplus, 11Th Edition
Author Kieso
Copyright 2016
Binding Hardback
ISBN 978-1-11925-127-9
Price $147.95
Required

Image not available
Intermediate Accounting, 11th Canadian Edition, Volume 2 Study Guide
Author Donald E. Kieso
Publisher Wiley
Copyright 2016
Binding Paperback
ISBN 978-1-11927-442-1
Price $49.50
Choose One

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 2 W. Wileyplus, 11Th Edition
Author Kieso
Copyright 2016
Binding Hardback
ISBN 978-1-11925-127-9
Price $147.95
Required

Image not available
Intermediate Accounting, 11th Canadian Edition, Volume 2 Study Guide
Author Donald E. Kieso
Publisher Wiley
Copyright 2016
Binding Paperback
ISBN 978-1-11927-442-1
Price $49.50
Optional

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