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Understanding Financial Statements

The immersive simulation will allow your students to apply their knowledge in a virtual world designed to assist them in understanding financial statements, analyzing them, and preparing budgets.

This engaging and user-friendly portal allows students to validate their understanding of financial statements and consolidate their learning from theory to practice. In addition, they will develop their skills in a motivating multimedia environment.

The Praxar team offers complete personalized support, from integrating the simulation into the course outline to the use of the portal and its integrated tools.

Praxar Financial Accounting offers an innovative learning experience!

What makes this simulation unique?

Financial Statements

Review various accounting statements and produce entries in the financial statement accounts.

  • Details of the fundamental accounting equation’s impact
  • Time required : 5 to 6 hours
  • Individual learning
  • Single or random data set

Financial Analysis

Analyze financial statements using ratios, identify trends and recommend corrective measures.

  • Different analysis types
  • Time required : 3 to 4 hours
  • Individual learning
  • Single data set

Budgeting

Prepare next year’s budget in 6 steps!

  • Financial statements, adjustments, investment project analysis, provisional balance sheet, CVP model and break-even point.
  • Time required : 3 to 4 hours
  • Individual learning
  • Single data set

Added value for instructors in Accounting classes. If you…

  • are looking for an online solution to engage your students;
  • want to implement creative and playful teaching methods;
  • are looking for tools to apply theoretical learning;
  • want to enrich your course outline without getting overwhelmed,

… the Praxar Accounting simulation is for you!

Immersive financial accounting simulation
Immersive financial accounting simulation

THE SETTINGS

  • The simulation takes place in a virtual world – Students learn the concepts with no regard to the tax rules of a particular location.
  • Single or Random Data Set – Students may have the same data set or different data for each of them.
  • Three-level point and badge system – Enables you to evaluate the quality of the student’s work.
  • Simplified portal – Structured work plan and built-in tutorials.
  • Achievement certificate – Integrated into the student portal.
  • Available in English or French.
  • For groups of 5 to 500 students.
Immersive financial accounting simulation

THE TOOLS

  • Self-correction – Leads the student to the correct answer by offering clues.
  • Planner – Organize the learning journey over time.
  • Content – Select the content according to the learning objectives.
  • Work lots – Group the transactions into work lots according to your lesson plan.
  • Custom reports – Automatic correction and marking.
  • Glossary – Adapt the statement texts to your teaching approach.

An immersive experience that motivates students

Our new platform presents a unique approach that engages students and keeps them motivated. Game-based learning allows them to experience the subject matter in a playful, concrete, and realistic context. The targeted skills are:

UNDERSTAND the impact of a company’s operations on the financial statements.

LEARN the basic principles underlying the preparation of financial statements.  

ANALYZE and INTERPRET financial statements using ratios.

DEVELOP a budget based on historical data and objectives.

Take the challenge, in-class or remotely!

In this simulation, the students act as interns in a small business that offers
services related to rock climbing: The Summit.

They will enter various transactions directly into the financial statements.
They will analyze and interpret the meaning of financial data. Finally, they will plan next year’s budget according to a scenario that is proposed to them.

Simplified integration and technical support at all times

  • Personalized support, adapted to your pedagogical approach
  • Praxar takes care of all registrations
  • Support 7 days a week
  • Secure website
  • Canadian servers

Satisfied clients

Kayak+

Praxar’s kayak industry simulation has been an excellent addition to my graduate entrepreneurship course. I initially incorporated the simulation as an experiential learning tool to enhance and extend classroom learning and discussion efforts. Beyond serving as an outstanding complement in this regard, I quickly learned that it brought much greater value. Students became markedly more engaged within smaller team settings. The simulation also brought a sense of competitiveness across teams that only served to draw students in further. Students quickly realized that learning required much more than an isolated understanding of key concepts. They realized that success would require developing a more integrated sense of key concepts coupled with practice that leads to proficiency in using concepts to navigate the complexity of entrepreneurial activity.

Beyond the value of the simulation itself, the Praxar support team is simply exceptional. The team vests itself actively in the success of students and instructors with a level of responsiveness in support that is nothing short of rare to find today.

Dr Mark Schenkel, Professor of Entrepreneurship

Belmont University, USA

Kayak+

The simulation is very real and engaging. I like the information, quizzes, industry reports, and suggestions for improving the students’ learning. But more importantly, students became more engaged and improved their understanding of different aspects of a business.

Dr Claudia Defuentes, Associate Professor of Management

Saint Mary’s University, Canada

Videogame

The Praxar simulations are a real added value in my teaching curriculum. They correspond perfectly to the expectations of a teacher in a practical case and allow them to really challenge their students. Moreover, the different simulations allow you to adapt to the level of each class from BTS to Master.

Kevin Rolando, Lecturer

ESTC Marseille, France

Golf

I’ve been using the Praxar golf simulation in my first-year management course for four semesters and with over 800 students. The feedback and student engagement with the simulation are always very positive. The simulation provides an easy-to-learn interface for students, but the decisions required by students are appropriately challenging. My favorite aspects of the simulation are that it fully incorporates social and environmental sustainability in a meaningful way and that it requires students to consider multiple areas of the business including accounting, human resources, operations management, and financing.

Dr Sandy Hilton, Associate Professor of Management

The University of British Columbia, Okanagan Campus, Canada

Kayak+

Praxar’s business simulations are unique. They provide professors and students with many perspectives to understand the role of decision-makers in the modern business corporation. We get to make business decisions in real situations and get instant results and excellent feedback. At University, we study production, human resources, organizational behaviour, marketing, and sales in separate classes. In the Praxar simulations, we study every single element of the company, and thus, we get a better educational experience.

Dr Paul Moran

Institute for Market Studies, Spain

Golf

At Cambrian College, we pride ourselves on rolling up our sleeves and teaching our students “The Trade of Business”. Praxar Simulations help students think critically, develop strategies to apply business concepts in a meaningful way, all while having fun! 

Praxar Simulations have not only helped me to bring key business concepts in an applied learning environment but it’s also helped students better understand the interdependency of all functional areas of a business. 

From a soft skills perspective, students work in teams, participate in healthy debates. This strategy helps them develop sustainable relationship-building skills, problem-solving skills, and leadership skills.  Incorporating a Praxar simulation within a course design will help prepare your students to become more well-rounded business professionals, providing them with a competitive advantage as they enter the workforce.

In today’s dynamic teaching environment, I would highly recommend partnering with Praxar to create a better, more interactive learning experience for your students. The service and support Praxar’s teams of dedicated professionals provide set them apart from other options in the market.

Jean Beauchemin, Professor of Business

Cambrian College, Canada

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