Introduction to Accounting and Finance
Introductory accounting courses.
Students will work within a multifunctional business setting where they start up and manage a new venture. In this setting, they will experience the challenges of resource allocation, activity-based costing, pro forma financial statements, and financial ratios analysis.
6 decision rounds, with each round taking 30 to 60 min per student.
The Introduction to Accounting and Finance simulation familiarizes students with the basics of accounting in the context of a fully functioning enterprise. The simulation is highly integrated and provides an ideal platform from which instructors can discuss and illustrate the fundamentals of accounting, including resource allocation, activity-based costing, profitability analysis, pro forma accounting, and financial ratios.
You are about to start a new company that will enter the microcomputer business. You will be a totally integrated company that does it all from marketing to production to human resource management. You will have limited financial resources and complete accounting responsibility. As the executive team, you will provide the seed capital to start your business. You can use this money to build a factory, open sales offices, and design brands. You will invest 2 million in the first quarter and another 1 million in each of the next two quarters. An additional 4 million will become available in quarter 4 from venture capitalists, for a total of 8 million. Your executive team has the next year and a half to get this company off the ground. Within this time frame, you should become a self-sufficient firm, earning substantial profits from your operations.
Grading is based on the balanced scorecard that measures financial performance, customer satisfaction, market share in the targeted market segments, human resource management, manufacturing productivity, financial risk, asset management, preparedness for the future and wealth.
Students can play against their peers.