5 August 2015: 07:00AM GMT

A 3D virtual business simulation for experiential learning in first year accountingA/Prof. Julie Walker (University of Queensland, Australia)

Your HostsProfessor Geoff Crisp, Dean Learning and Teaching, RMIT Universitygeoffrey.crisp[at]rmit.edu.au

Dr Mathew Hillier, Institute for Teaching and Learning Innovation, University of Queenslandmathew.hillier[at]uq.edu.au

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A 3D Virtual Business Simulation for Experiential Learning in First Year Accounting

Julie Walker

Robyn Parry

Anthea Leggett Institute for Teaching and Learning Innovation, University of Queensland

Part of an ITaLI-BEL faculty partnership project on blended learning at the University of Queensland

• Large (800-1000 students per semester) first year accounting course at an Australian university

• Core course for 3 undergraduate business programs

• Also elective course for many students from science, law, engineering and arts

• Diverse cohort including approx 35% international students.

THE COURSE

• Course title is ‘Accounting for Decision-Making’

• Not intended as a technical debit/credit course

• Focus on accounting information to support business decision-making, not account preparation.

THE COURSE

• Weekly face to face lecture and tutorial.

• Assessment consisted of two invigilated written exams and a company analysis and valuation group project.

PREVIOUS LEARNING APPROACH

A review of the course in 2014 revealed:• Students satisfied with the course

overall (SECaTs, 2014)• But low engagement levels

(SECaTs 2014)• And few students found the course

content interesting or relevant (survey data 2014)

REVIEW OF STUDENT EXPERIENCE

• Analysis of a sample of final exam scripts found many students approached accounting problems at a superficial level, providing rote and/or incomplete responses

• This occurred even after repetitive in-class rehearsal of similar accounting problems

REVIEW OF STUDENT EXPERIENCE

• In 2014 decision was made to introduce an active learning approach to the course to improve learning outcomes for students

• Active learning defined consistent with Bonwell and Eison (1991) as any activity which “involves students in doing things and thinking about the things they are doing”

CHANGE IN LEARNING APPROACH

• The entire course was rebuilt in 2015• A web-based/digital simulation an

important component of the active learning approach

• Other changes included introduction of a collaborative tutorial program and the introduction of online tests to replace a written mid-semester exam

CHANGE IN LEARNING APPROACH

• International Education Services (IES) had developed a 3D virtual business world for use in their foundation year program for international students. (http://piersim.com/about)

• We collaborated with IES to develop and adapt the virtual world for use as an experiential learning resource for first year accounting at university.

THE 3D VIRTUAL BUSINESS WORLD

• The VBE is a small virtual economy consisting of 20 student-operated ‘businesses’ and supported by a central ‘bank’

• There is an associated VBE Control Panel that allows users to control a range of things, for example setting prices for products.

• Each virtual business is operated by a student group across a number of in-world trading sessions during the semester

THE 3D VIRTUAL BUSINESS WORLD

• In addition to the VBE world and Control Panel, a VBE communications App and a VBE Dashboard were developed

• The VBE App allows students to communicate with others in their virtual business and those in competing businesses in their “instance” of the VBE

• The VBE App is available continuously and so allows players to continue to plan and organise their business between trading sessions

THE 3D VIRTUAL BUSINESS WORLD

THE VBE APP

THE VBE DASHBOARD

The VBE Dashboard is a web site where students can undertake a number of tasks related to their VBE activity:

• Selecting a “job” within their virtual business (to join a group at the start of the exercise)

• Viewing financial reports generated after each trading session

• Managing their user profile

• To access the VBE, students download the VBE Viewer and the VBE App

• The Viewer was also installed on library computers across campus

• Students could enter their scheduled trading session from any location with access to the Viewer.

ACCESS TO THE VBE

WHAT HAPPENS IN A VBE TRADING SESSION?

• One avatar represents each business and is controlled by one student from the group to trade in the VBE economy

• At any given time there are only ever 20 avatars ‘in world’ together, executing their teams’ plans and competing with one another

• 50 min trading sessions ‘in world’ each week for six weeks.

• Each avatar performs pre-planned and agreed tasks as well as making in session decisions on running their business, including purchasing inventory, advertising and trading

• Meanwhile, the other team members simultaneously be operating the VBE Control Panel and the VBE App even when the team members are in entirely different locations.

WHAT HAPPENS IN A VBE TRADING SESSION?

• At the end of each session, financial statements are generated for each virtual business

• These are downloaded by students and used to monitor progress and formulate plans for the next trading session

• The financial statements from the final trading session are used as the basis for the financial plan section of the business plan assignment

WHAT HAPPENS IN A VBE TRADING SESSION?

VBE EXTERNAL VIEW

GAME SCREEN

1. Money2. Attributes3. Avatar4.Text Chat

BUYING INVENTORY

OBTAINING A LOAN

ATTRIBUTES

LAW COURT

Link to Youtube: Inside the VBE (4:34)

http://youtu.be/cYDaYgt7i-M

• The VBE exercise is run alongside lectures and tutorials – it doesn’t replace conventional classes

• Related assessment is a business plan assignment which each student group prepares for their virtual business

THE VBE – LINK TO ASSESSMENT

• Success in the VBE requires successful teamwork by the student groups

• Students also complete an individual online reflective journal about their planning and execution for each trading session

THE VBE – LINK TO ASSESSMENT

LOGISTICS

• Over 900 students enrolled in first semester 2015

• 12 weekly trading sessions each week for 6 weeks

• All students attended an induction session for the VBE prior to the first trading session

Link to Youtube: VBE Induction session (0:57)

https://www.facebook.com/uqbusiness/videos/988464357871851/

OBSERVATIONS FROM SEMESTER 1 2015

• Enhanced student engagement with the course material

• Improved skills in using and interpreting financial statements

• Improved decision-making skills• Enhanced teamwork skills • Students very receptive to change

Link to Youtube: Student interview VBE (2:24)

https://youtu.be/Y-y6WhIhrLc

• Some technical problems occurred during the semester- e.g. a few sessions failed and some individuals experienced difficulties in navigating their avatar

• Generally student feedback is positive• But some students critical, especially

if they experienced a technical problem with the VBE

OBSERVATIONS FROM SEMESTER 1 2015

SEMESTER 2 2015

Based on semester 1 experience:• Fewer trading sessions will be run

(4 rather than 6)• The VBE financial statements

improved for better alignment with in world activity

• Technical issues resolved

Questions

Session Feedback Survey

With thanks from your hosts

Professor Geoff Crisp, Dean Learning and Teaching, RMIT Universitygeoffrey.crisp[at]rmit.edu.au

Dr Mathew Hillier, Institute Teaching and Learning Innovation, University of Queenslandmathew.hillier[at]uq.edu.au

Recording available http://transformingassessment.com

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