- International Fees
International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Course Overview
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)
- 50% in FMGT 3110
Credits
5.5
Domestic fees
$820.22 - $834.51 See individual course offerings below for actual costs.
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
Financial Accounting 2 (FMGT 4110) is offered as a part of the following programs:
- Indicates programs accepting international students.
- Indicates programs with a co-op option.
School of Business + Media
- Accounting
Diploma Full-time
- Accounting
Diploma Part-time
- Accounting
Diploma Part-time
- Finance
Diploma Part-time
- Finance
Diploma Part-time
- Financial Management (Finance Option)
Certificate Part-time
- Financial Management (Professional Accounting Option)
Certificate Part-time
- Financial Planning
Diploma Part-time
- Financial Planning
Diploma Part-time
- Professional Accounting
Advanced Diploma Full-time/Part-time
Course Offerings
Fall 2024
Below are four offerings of FMGT 4110 for the Fall 2024 term.
CRN 30765
Dates
Wed Sep 04 - Wed Dec 04
- 14 weeks
- CRN 30765
- Domestic fees $820.22
Status
In Progress
This course offering is in progress. Please check back next term or subscribe to receive email updates.
Class meeting times
Dates | Days | Times | Locations |
---|---|---|---|
Sep 04 - Dec 04 | Wed | 17:30 - 21:15 | Downtown DTC Rm. 483 |
Instructor
Trevor Jang
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
CRN 32089
Dates
Thu Sep 05 - Thu Dec 05
- 14 weeks
- CRN 32089
- Domestic fees $820.22
Status
In Progress
This course offering is in progress. Please check back next term or subscribe to receive email updates.
Class meeting times
Instructor
Trevor Jang
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- The following dates will be HELD IN-CLASS at the DTC Campus. Midterm: October 24th (17:30 - 21:15) Midterm Exam Debrief: October 31st (17:30 - 21:15) Final: December 5th (17:30 - 21:15) 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.
CRN 31293
Dates
Tue Sep 10 - Tue Dec 10
- 14 weeks
- CRN 31293
- Domestic fees $834.51
Status
In Progress
This course offering is in progress. Please check back next term or subscribe to receive email updates.
Class meeting times
Instructor
Ron McGregor
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
CRN 32622
Dates
Sat Sep 14 - Sat Dec 14
- 14 weeks
- CRN 32622
- Domestic fees $834.51
Status
In Progress
This course offering is in progress. Please check back next term or subscribe to receive email updates.
Class meeting times
Instructor
Ron McGregor
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Winter 2025
Below are two offerings of FMGT 4110 for the Winter 2025 term.
CRN 10239
Dates
Mon Jan 06 - Mon Apr 14
- 14 weeks
- CRN 10239
- Domestic fees $834.51
Status
Full
This course offering is full. Please check back next term or subscribe to receive email updates.
Class meeting times
Dates | Days | Times | Locations |
---|---|---|---|
Jan 06 - Apr 14 | Mon | 18:00 - 21:45 | Burnaby SW01 Rm. 2590 |
Instructor
Israr Rahimi
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- Class WILL NOT be held Monday, February 17th (Family Day).
CRN 47587
Dates
Wed Jan 08 - Wed Apr 09
- 14 weeks
- CRN 47587
- Domestic fees $834.51
Status
Full
This course offering is full. Please check back next term or subscribe to receive email updates.
Class meeting times
Dates | Days | Times | Locations |
---|---|---|---|
Jan 08 - Apr 09 | Wed | 18:00 - 21:45 | Burnaby SW01 Rm. 3190 |
Instructor
Ron Messer
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Programs and courses are subject to change without notice.