Reviews GAAP and objectives of financial reporting. Examines corporate combinations, including consolidations for wholly-owned subsidiaries, non- wholly-owned subsidiaries (both in the year of acquisition and subsequent years) and pooling of interest. Consolidations will be examined for up to two subsidiaries. Accounting for foreign currency transactions, fund accounting and branch operations.
FMGT 4110 or 4190. (Students are advised not to enroll in this course until they have achieved a mark of at least 65 per cent in either of the prerequisite courses).
This course was retired after the Fall 2017 term and is no longer offered through BCIT Part-time Studies.
Upon successful completion of this course the student will be able to:
Conceptualize more advanced organizational structures, inter-ownership issues, and the resulting financial reporting necessary to reflect the ownership constituents.
Apply relevant accounting treatments for a number of inter-company transactions, both operating and non-operating, and handle the accounting, related future tax treatment, financial statement (consolidated income, balance sheet and cash flows) preparation and disclosure requirements of the combined entity.
Enhance Internet search capabilities through on-line access to the CPA Handbook and Financial Reporting in Canada Editions.
Apply the reporting implications of foreign currency transactions, hedge accounting and accounting and the translation and consolidation of financial statements denominated in foreign currencies including the relevant prospective reporting of comprehensive income.
Differentiate between alternative accounting approaches for Not-for-Profit organizations.
Analyze complex financial data efficiently and maintain focus on the critical issues and reporting objectives.
Effective as of Winter 2015
FMGT 7120 is offered as a part of the following programs: