Test Your Accounting & Entrepreneurial Skills for Cash Prizes!
Business Professionals of America and Knowledge Matters are excited to announce that there will be two virtual simulation challenges offered for the 2020-2021 membership year. Open to all Secondary Division BPA members, these competitions are completely web-based and include Virtual Business Challenge – Accounting (VBC) and Virtual Business Entrepreneurship (VBE). These competitions offer students a great opportunity to compete for prize money while testing their real-world skills in accounting and entrepreneurship whether individually or as a team.
The BPA Accounting Virtual Business Challenge event encourages BPA members to test their accounting skills while managing their own service business. Participants will analyze source documents such as bank statements, pay records and time sheets, as well as accounting documents such as T Accounts, the general ledger and worksheets in order to make sound business decisions. They will strategically set service prices and wage rates, rearrange the production floor and buy advertising. BPA members will be challenged to earn as high of a profit as possible for their business and they will be scored based on their cumulative profit after managing the business for one simulated year.
New for 2020-2021 is the BPA Entrepreneurship Virtual Business Challenge, Knowledge Matters’ most elaborate, and most anticipated, business simulation ever. Students learn the fundamentals of entrepreneurship via an engaging, fun, visually graphic simulation as they strive to build their entrepreneurial empires. The excitement grows as students learn how to plan, build, and expand their own business. Within this competition, students will be able to open their own business and choose from six different types of businesses to start their own. There will be service, dining and entertainment businesses to choose from.
Turn classrooms into a startup incubator with BPA Virtual Business – Entrepreneurship. Visually immersive simulations will teach students the fundamentals of building and growing an entrepreneurial business – market research, elevator pitch, business plan, raising money, and much, much more.
Registration begins mid-January 2021.
No downloading or installation will be required. In order for students to be eligible, advisors will need to log in to approve students and teams registered under their chapter. Advisor accounts will be set up in advance by Knowledge Matters and will be accessible beginning mid-January.
BPA members can compete individually or in teams of up to three. Visit https://vbc.knowledgematters.com/bpa for more information.
The competition runs from February 1, 2021 at 10:00 AM EST through February 26, 2021 at 5:00 PM EST
The first through third place nationally ranked teams from each challenge will win the following awards. Award money will be distributed at the National Leadership Conference:
- $1,000 for first place/team
- $750 for second place/team
- $500 for third place/team
Please note: If students participate on a team and that team places in the top three, the financial award will be divided equally among each member of the team based on the above prize levels. Although students are able to compete in both competitions, should they place in the top three in both, they may only be recognized and receive a financial award in one.