WEST UKRAINIAN NATIONAL UNIVERSITY

 West Ukrainian National University hosted an international training event, Accounting Bissim Taster Session, with partners from leading UK business schools, where students had the chance to make management decisions in a virtual company and assess their impact on key financial indicators.

Students from the following educational programmes took part in the simulation: International Economics, International Economic Relations, Accounting and Taxation, Finance, Customs and Taxation, and Financial Management. The participants were divided into four teams: Androids, Bionic Sciences, Cybernauts, and Domo.

During the three-year virtual period — 2051, 2052 and 2053 — students from four teams competed in developing an effective company management strategy, making decisions on production, marketing, R&D, finance and human resources management.

Team 4 (Domo) emerged as the winner of the three-year simulation. The team demonstrated a consistently high share price throughout 2051–2053, positive PBT in each year, the highest product quality and staff professional skills indicators, zero sales losses and high operational reliability, a balanced and investment-attractive development strategy, effective cost control and sustainable growth in financial results.

Other teams offered their own interesting innovative strategies: Team 1 (Androids) – aggressive innovator. Huge investments in R&D ensure high potential for the future, but so far the team is operating at a short-term loss. Product quality and staff professional skills are among the highest among the participants.

Team 2 (Bionic Sciences) – a risky ‘seesaw’. In 2053, it demonstrated shocking profits due to low product quality and weak HR performance. The team is unstable and needs a serious strategy overhaul. Team 3 (Cybernauts) – a cautious middle-of-the-road performer. A stable start, but insufficient response to the market and low investment in HR and marketing limit growth potential.

The event was moderated by Matt Davies, Aston Business School, UK; Darren Sparkes, Warwick Business School, UK; Natalia Pochynok, coordinator of international activities at the Faculty of Finance and Accounting, WUNU.

Practical work with realistic business simulations allowed students to experience the dynamics of managing a company and improve their strategic thinking, teamwork and financial analysis skills.

The event was another step in the development of international cooperation between WUNU and leading British universities and created additional opportunities for the professional growth of future specialists.