Building on technical skills and knowledge covered in earlier accounting courses, this course focuses on complex accounting topics. Its primary focus is on accounting for long-term, inter-corporate equity investments under International Financial Reporting Standards and Accounting Standards for Private Enterprises. Other topics covered include accounting for foreign currency transactions, translation and consolidation of foreign currency financial statements, and accounting standards pertaining to not-for-profit and public sector organizations. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP).
THIS IS A DEGREE LEVEL COURSE FOR THE BACHELOR OF ACCOUNTING. Please note the following registration guidelines: 1. Acceptance into the Bachelor of Accounting Program OR 2. Completion of ACCG 6110 witth a final grade of 65% or Completion of FMGT 3110 and 4110 (or equivalent), with minimum average grade of 65% and approval from the Department by emailing at email@example.com. This course fulfills the CPA prerequisite for Advanced Financial Accounting. https://www.bccpa.ca/CpaBc/media/CPABC/Become%20A%20CPA/prerequisites/BCIT_CPA-Course-Sheets.pdf NOTE: No Class on February 12th - BC Family Day; No Class on March 12th - BCIT Spring Break; No class on April 2nd - Easter Monday.
This course offering is in progress and full. Please check this page for other currently available offerings or subscribe to receive email updates.
THIS IS A DEGREE LEVEL COURSE FOR THE BACHELOR OF ACCOUNTING. Please note the following registration guidelines: 1. Acceptance into the Bachelor of Accounting Program OR 2. Completion of FMGT 3110 and 4110 (or equivalent), with minimum average grade of 65% and special approval from the Department; this can be obtained by emailing at firstname.lastname@example.org. This course fulfills the CPA prerequisite for Advanced Financial Accounting. www.bccpa.ca/CpaBc/media/CPABC/Become%20A%20CPA/prerequisites/BCIT_CPA-Course-Sheets.pdf This course is not intended for students who plan on completing the Bachelor of Accounting program on a full-time basis. Note: Class will be held on July 2nd (Day Lieu of Canada Day).
Upon successful completion of this course the student will be able to:
Analyze inter-corporate investment transactions and determine the correct accounting treatment for the investment.
Identify and apply the appropriate accounting standards relevant to the following:
Passive investments (fair value methods)
Investments in associates and joint ventures (equity method)
Business combinations (consolidation)
Prepare consolidated financial statements appropriately dealing with such complexities as:
Intercompany revenues, expenses and balances
Unrealized intercompany profits pertaining to intercompany asset transfers
Non-wholly owned subsidiaries
Apply the accounting standards applicable to foreign currency transactions, hedge accounting, and the translation and consolidation of financial statements denominated in foreign currencies.
Identify and discuss accounting standards and issues that are unique to not-for-profit and public sector organizations.
Prepare financial statements of not-for-profit organizations using both the deferral and restricted funds methods.
Effective as of Fall 2016
FMGT 7121 is offered as a part of the following programs:
School of Business
Accounting Full-time/Part-time Bachelor of Accounting
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.
Modern Advanced Accounting in Canada
Murray W. Hilton, Darrell Herauf
No information on books is currently available for Spring/Summer 2018 offerings of this course.
Interested in being notified about future offerings of FMGT 7121 - Advanced Accounting?
If so, fill out the information below and we'll notify you by email when courses for each new term are displayed here.