VIRTUAL BUSINESS ACCOUNTING
Virtual Business – Accounting brings accounting to life by letting students learn accounting skills on a business they run for themselves. With the online simulation, students are more vested in the numbers because these numbers come from their very 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 see transactions “fly” out of their business into accounting documents. These interactive simulations, akin to the video games that many students enjoy, 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.
Real teachers, real students, real classrooms
“We’re starting to see a return to reality-based teaching of job skills, but this time by using technology to simulate real-world situations.” Read more. Read More
Video Tour
Lessons Include
- T-accounts
- Using a General Journal
- The General Ledger
- Worksheets & Adjusting Entries
- Financial Statements
- Managerial Accounting I
- Managerial Accounting II
- Ratio Analysis
- Forensic Accounting I
- Forensic Accounting II
- Forensic Accounting III
- Run Your Own Business Project
- Bonus: Multiplayer Competition
Student Testimonials
Cayden
Irondequoit High School
Cayden compares her experiences at a professional sport event to what she learned through the Knowledge Matters Virtual Simulations. She enjoyed seeing how what she learned applied in the real world. Cayden also explains how she is motivated to take her career in a certain direction thanks to the simulations.
Marley
Hoover High School
Marley describes how she was able to apply what she learned through the Knowledge Matters simulations to her retail experience working at Forever 21. The Simulations excite her about learning business through fashion and retail since that is something she is passionate about.
Nick
Hoover High School
Nick from Hoover High School uses the real life skills he learns through the Knowledge Matters simulations in his job at a restaurant and shares how they can prepare him for a future in business.
Mason
Hillsboro Deering High School
Mason shares how the Knowledge Matters Simulations helped him realize what career path he could take and how he can incorporate his love for sports in his future.