TryIT - Accounting at Maze Green Yachts
Now that you have looked at basic accounting issues, why not have a look for yourself and see how a firm produces their accounts.
In the window below is the Maze Green Yachts online business simulation. In this, you get to see how well you can run a major international yacht manufacturer.
To test how Maze Green account for their yachts and work out their financial performance, go to the Maze Green business simulation (you can either do this in the window below or you can open it in a separate window by following the previous link).
If you are asked for a username and password, please check with your teacher/lecturer.
Try running the simulation for a few quarters and then have a look at the financial results that are produced. Make sure you understand all the terms in the results and then consider the questions/issues below.
Identify three examples of variable costs that Maze Green will be likely to pay when producing their yachts.
Identify three examples of fixed costs that Maze Green will be likely to pay when producing their yachts.
Identify any examples of semi-variable costs that you would expect Maze Green's costs to pay.
Identify the level of cash the company currently have available and how much this increased/decreased, since you started running the simulation. How has the level of short-term loans changed?
If Maze Green Yachts are short of cash, examine possible sources of finance available to them.
Try running the simulation and progressively reducing the amount you produce of each yacht. Identify the break-even output.
Now try running the simulation for the full period and attempt to maximise the level of profit. How much profit did you manage to make overall?
Try again with a slightly different set of strategies. Did you manage to make more profit? Which run worked better? Assess which strategies worked best and why.