COSMOPOLITAN College of Commerce and Technology’s business and IT students recently participated in a Business Simulation Board Game for non-accountants demonstration at the college premises, in which 20 students were given real business scenarios by the Accounting lecturers, Michelle, Princess and Nuza.
The college’s faculty has come up with ways on how to make teaching and learning Accounting, fun and exciting, by the use of their very-own “Business Simulation Challenge Board Game”, which shows how the actual transactions affect the Accounting Equation and also illustrates how the net profit is arrived. This strategic teaching method is expected to make the students understand the whole concept of accounting in a different way.
“Business Simulation Challenge Board Game” came from the concept of monopoly and the faculty has changed it according to the accounting principles and concepts, where instructors will create business scenarios or a situation based on real life business activities and provide instructions to the players.
The game will give hands-on experience to the players who will learn how companies transact business with their banks customers, suppliers and stakeholders.
The players will be engaged in business transactions, and the final product will be the trading profit and loss and balance sheet.
Business Simulation Challenge Board Game is considered most appropriate to learn basic book keeping, basic accounting and principles of accounting.
This boardgame will help working professionals understand and apply accounts in real life – this includes employees or jobseekers looking for opportunities in the field of Banking and Finance, Sales and Marketing, Accounting, Customer Service or aspiring entrepreneurs for the business set up process.