EntreprenAble learning method is based on the simulation of the operations of a fictional company, Business Information Systems Ltd. (BIS Ltd.), during four years and seven accounting periods: Month One Year One, Quarter One Year One, Quarter Two Year One, End of Year One, End of Year Two, End of Year Three and End of Year Four.
EntreprenAble is a business laboratory in which the students learn “by doing” business accounting and strategic financial management through the operation of a firm from launching operations up to the end of the fourth year.
The web teaching is complemented by using a virtual classroom to deliver virtual live tutoring to students. The technology allows a group of students to participate in the class in which the Tutor clarifies the subject and interacts with students. The opportunity is also provided to address questions posed by students on the scheduled lesson of the day and to socialise with other classroom mates.
There are about dual entry 26 typical transactions to learn and master the recording of accounting transactions that leads to the preparation of the four key financial statements for every accounting period: Income Statements, Balance Sheets, Statement of Cash Flows and Statement of Changes in Equity.
The exclusive learning approach of EntreprenAble is the teaching method based on simulating the life of a company, BIS Ltd., using the concept of “Typical Transactions”. These are transactions that have unique debit and credit entries and that repeat continuously during the trading activities of the firm.
The unique value proposition of EntreprenAble is to learn a complete course in business accounting and strategic financial management by studying, 100% on the web. All teaching materials are on the web, there is no paper version of any part of the course to be downloaded as a pdf document.
The course package includes:
i) An accounting system (read-only) where all transactions of the simulated firm are recorded and the four financial statements, including the trial balances are produced for each accounting period.
ii) An apprenticeship environment using Accounting Lab (downloadable) where the student practices by carrying out typical transactions and the system automatically produces the balance sheets and income statements.
iii) A Business Game (Financial Simulator) that enables the student to run financial simulations to learn strategic financial management and practice the attainment the company’s targets of liquidity and profitability (ROIC and ROE).
iv) By using the Business Game the student learns how to appraise capital investments in a company or in projects and to calculate Net Present Value (NPV), Internal Rate of Return (IRR), Payback and Break-even (B/E). Also to run simulations to measure the impact on of management actions on NPV, IRR, payback and B/E of changes in unit prices, quantities of product sold through marketing, and direct cost reduction.
v) Based on the acquired knowledge and skills the student learns how to prepare a Business Plan, with the strength of the know-how in business accounting and strategic financial management.
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