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Summary:
This informative webinar is hosted by Leon Lloyd from Edumundo and features Margaret Saunders, Senior Teaching Fellow from Birmingham City University. Following Leon's brief introduction to Edumundos business simulations and support service, Margaret proceeds to discuss the challenges that students face in understanding management accounting in the workplace. She emphasizes the importance of motivating students to learn about financial accounting and managerial accounting, which is why they combined the two topics in the module. The module (course in the US) was created with the intention of integrating the two subjects by utilizing assessments that revolve around both static and dynamic business scenarios. By incorporating a competition through a business simulation called CFO Challenge and a written case study, students are enabled to not only grasp the principles of accounting but also develop the essential literacy skills needed to apply accounting knowledge in any given context. The students enrolled in this new module come from an Accounting with Business Degree, rather than the path to becoming a qualified accountant. Margaret expresses her surprise at the level of interest shown by students in their cash flow statements and shares her enjoyment in delivering this module. In addition to these topics, the webinar also covers the background and evolution of the "Integrated Management Accounting" module and CFO Challenge. It provides valuable insights and recommendations for those who are new to implementing business simulations, as well as ways to enhance financial literacy across diverse student pathways. The webinar also includes student feedback on the effectiveness of the new integrated module and how it was delivered.
Management simulation
Edubook