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

$744.44 - $753.01 See individual course offerings below for actual costs.

Winter 2020

Below are two offerings of this course for the Winter 2020 term.

CRN 10237

Thu Jan 02 - Thu Apr 02 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 02 - Apr 02 Thu 17:30 - 21:15 DTC Rm. 385

Instructor

Trevor Jang

Course Outline

Cost

$744.44

Notes

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

This course offering is in progress and full. Please check back next term or subscribe to receive email updates.

In Progress and Full

CRN 10239

Mon Jan 06 - Mon Apr 13 14 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 06 - Apr 13 Mon 18:00 - 21:45 BBY NE01 Rm. 404

Instructor

Ron Messer

Course Outline

Cost

$753.01

Notes

  1. Class WILL NOT be held Monday, Feb. 17th (Family Day)

This course offering is in progress and full. Please check back next term or subscribe to receive email updates.

In Progress and 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

  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
    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 2020

Books for Winter 2020 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 $141.95
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
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 $141.95
Choose One

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Registration is currently open for the Winter 2020 term.

The sneak preview for the Spring/Summer 2020 term starts Fri, Feb 14 at 8:30 am (PST).

Students may register for Spring/Summer 2020 term courses online, by phone, mail or in-person starting Wed, Feb 19 at 9:00 am (PST).

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