Accounting

Focus:

Financial accounting, Managerial accounting, Understanding operational and financial details of business, Finance for non-finance.

Used in:

Financial accounting, Managerial accounting, Understanding operational and financial details of business, Finance for non-finance.

Case scenario:

The participant plays the role of an accounting manager for a company run by an owner who believes accounting is hokum. The participants have to prepare financial statements which include a balance sheet, income statement and cash flow. The preparation will provide an understanding of how the operational details of the business work, and how finances are created to support the business, providing an operational overview of the business.

Participant tasks:

Participant has to prepare financial statements which include a balance sheet, income statement and cash flow. The participant is provided with the data in the form of a conversation. The participant needs to understand the interplay between all three financial statements. The participants make the statements in a competitive environment keeping in mind the urgency of business.

Key learning areas:

Understanding how the business operates and finances itself. Demonstrate an understanding of how the operational and financial of the business would reflect in the financial statements. Develop intuition of interconnection between financial statements.

Key success factors:

Success hinges on how well participants engage in practical learning, developing crucial skills, demonstrating a deep understanding of accounting principles in real-world situations, and preparing for the dynamic challenges of the professional accounting field.

Expected outcome:

An understanding of how the operational details of the business work and finances are created to support the business. Participants gain a comprehensive understanding of accounting principles and financial reporting. Develop skills in financial decision-making, ensuring they can contribute effectively to organizational success by maintaining financial transparency. Microsimulation prepares them for roles in accounting, finance, and related fields.

Adaptability:

The platform offers powerful user-level customization options where the educator can change the storyline, parameters, difficulty level, languages, and currency for different target groups and experience levels. The platform provides a tool where participants' feedback and assessments can be done by AI. In addition, the platform also has the capability of recording engagement, conducting quizzes, and a forum for doubt-solving.

Available languages:

English, Hindi, Tamil, Telugu, Kannada, Marathi, Bengali, Malayalam, Odia, Gujarati, Punjabi.

Focus:

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