Virtual Business Simulation: Accounting

Virtual Business – Accounting brings accounting to life by letting your students learn accounting on a business THEY run. With the online simulation, students are more vested in the numbers and learning the fundamentals of accounting, because the numbers come from their own business. This sim is ideal for teaching accounting, forensic accounting, managerial accounting, finance, and introduction to business.

Students begin by learning the basics of accounting as they work with T-accounts, a general journal, general ledger, and worksheets. They practice making correct entries and making business decisions based on the accounting information they are preparing. In “animate transactions” mode, students can literally see transactions fly out of their business into accounting documents. These interactive simulations, akin to the video games that students enjoy so much, have proven to be powerful teaching tools.

In later lessons, students move on to using financial statements and ratio analysis to solve real business problems. In forensic accounting lessons, students pore through their business visually, including source documents and accounting statements, all in search of fraud or errors. In projects, students can run their entire business and even compete in real-time multiplayer competitions.