Accounting Simulation Assessment Project – Flo’s Flowers Shop Financial Statements

Description

This no-prep accounting mini simulation gives students hands-on practice with financial statements using a realistic small business accounting scenario. Students complete a financial worksheet, income statement, and balance sheet for Flo’s Flower Shop while reinforcing essential accounting vocabulary and accounting concepts.

Perfect for Accounting I or Accounting II, this project works well as an assessment, end-of-unit project, or final exam alternative.

Why Teachers Will ❤️ This Accounting Simulation

✔️ No-prep accounting project — assign and teach
✔️ Real-world small business accounting scenario
✔️ Strong assessment of accounting understanding
✔️ Reinforces accounting vocabulary and classification
✔️ Digital and easy to assign through Google Classroom or any LMS

What Students Will Do❓

In this accounting simulation, students act as accountants helping Flo’s Flower Shop close its books at the end of the fiscal period. Students will:

• Complete a financial worksheet
• Prepare an income statement
• Prepare a balance sheet
• Analyze results to demonstrate understanding

Expanded Accounting Concepts Covered:

This accounting project goes beyond basic financial statements. Students also respond to prompts that require them to:

• Identify customers vs. vendors
• Distinguish accounts payable vs. accounts receivable
• Identify the type of business (merchandise, manufacturing, service, or extracting)
• Determine appropriate supplies and equipment for a flower shop
• Identify assets specific to a small business

These questions strengthen accounting vocabulary, classification skills, and conceptual understanding.

✅Instructional Note

⭐ This resource is not Excel-based. Students manually calculate totals, making it ideal for reinforcing accuracy and practicing 10-key skills.

What’s Included❓

• Digital Google file student project
• Clear, step-by-step accounting prompts
• Teacher keys for all financial statements
• Recommended grading rubric

Classroom Use

• Accounting I or Accounting II
• Financial statements unit
• End-of-fiscal-period lesson
• Accounting assessment or final project

This small business accounting simulation provides meaningful, real-world practice with income statements, balance sheets, and accounting terminology while saving teachers valuable prep time.

⭐I taught accounting every year of my 28-year teaching career.⭐