ACCT1101 Accounting for Decision Making
Semester 1 2015
The Virtual Business Enterprise (VBE) learning resource developed for ACCT1101 is a 3D virtual world created around a small economy consisting of 20 student-run ‘businesses’ and supported by a central ‘bank’. Students in groups of 4 manage their business in the VBE over several operating cycles while competing with other businesses in the virtual economy. There are 6 in-world sessions (instances), each of 50 minutes duration, scheduled for each student-run business, with the first session commencing Monday 30 March 2015. Your session times were announced at your week 4 VBE induction and can be found on blackboard. Your business activity in the VBE world will generate a range of financial data. After the trading session, the VBE will translate this game play data into scaled, relevant financial statements for the virtual business you operate. You can access this information from the Enterprise App. and you should do so after each in-world session. These financial statements will form part of the financial plan section of your business plan so you should print them out and retain a copy. Please note that the financial statements for trading sessions 1-5 cannot be saved in the Enterprise App because the trading done in subsequent sessions overwrites the previous figures in the database. If you want to access those interim financial statements you must print them out when available (and before the next trading session) and ensure you retain a hard copy. Assessment relating to the VBE is on a group basis and will be as follows: 1. Completion of key financial ratios and submission of a Business Activity Statement (BAS) in session 3 (week beginning 20 April) and session 6 (week beginning 11 May) and completion of an online individual reflective journal. (10%) 2. Submission of a business plan for the group's VBE business due noon Thursday May 28. (20%)
1. (a) Key financial ratios (3%...
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