Accounting processes exercise in a simulated company (Procesos contables en empresa simulada)

Published: 20 May 2024| Version 1 | DOI: 10.17632/9g5kxt566v.1
Sandra Yaninna López Duque,


This practical exercise on accounting processes in a simulated Colombian company has been created by the authors for academic purposes to enhance the learning experience of university students at introductory levels, using Problem-Based Learning methodology and teamwork. It is also a material that can be used by professors who teach accounting with a practical approach.


Steps to reproduce

To properly undertake the accounting cycle, the authors include several steps: the first corresponds to the initial balances phase, meaning items with figures from previous months are determined and accumulated to the current monthly period. The second step involves recognizing transactions for the current monthly period. The third step is to determine the impact of current transactions on the balances from previous months. The final step is making adjustments and determining the final balances for the generation of basic financial statements.


Universidad Cooperativa de Colombia


Accounting, Accounting Class, Financial Accounting, Private Company, Financial Transactions Tax, Accounting Standard