Principles of Business Accounting

Completing this online financial accounting course satisfies the financial accounting prerequisite requirement for the Professional MBA, MPAC, MSBA and MSF programs at Seattle University. This class is open to incoming Seattle University students as well as those seeking to fulfill prerequisites for other programs and is a non-credit course. It satisfies the Introduction to Financial Accounting requirement for the PMBA, MSF, MPAC Track Two, and Accounting Certificate programs here at Seattle University.

Course Description

To develop a business understanding of financial accounting concepts, principles, and techniques and the ability to apply them to the proper recording of accounting transactions and to the preparation of financial statements pursuant to U.S. GAAP, all of which are addressed in the context of the basic accounting model.

Special attention will focus on the accounting information cycle, including the books of original and final entry, the accrual basis of accounting, the proper matching of revenues and expenses, and the appropriate valuation of economic resources and obligations. Emphasis also will be placed on the meaning of certain accounting terms and expressions necessary for effective communication in the business environment. Identifying the financial status and operating performance of a firm from the components of its financial reports and synthesizing financial accounting data from such reports in a manner that informs the business decision-making process are key learning outcomes.

No prerequisites to this course are necessary.

This course should enhance a student's abilities to:

  • Recommend a course of action to a prospective client by using a framework or model to analyze financial statements and other relevant data
  • Evaluate the accounting implications of an economic event by applying the principles, standards, and practices of financial accounting
  • Advise stakeholders of how strategic business risks relate to internal controls, financial reporting, tax, and/or audit using authoritative literature, fieldwork, surveys, archival, or other research data
  • Synthesize accounting information within the context of other business functions to inform the business decision-making process
  • Construct arguments for and against alternative accounting decisions by weighing the ethical, stakeholder, and stewardship implications of each