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Students will learn about finances by playing a board game

Jun 30, 2021

The Faculty of Economics and Management (FEM) at Ventspils University of Applied Sciences (VUAS) has purchased a board game, "Business Finances." Students learn about accounting fundamentals, budgeting, financial analysis, financial investments, and human resource management while playing the game. It takes between 16 and 24 hours to complete all of the game cycles. VUAS will use the game in several FEM study courses and after study events during the upcoming academic year.


The game's goal is for students to gain a practical understanding of business financial management; learn how to use management accounting documents in strategic and tactical decision making. The game also aims to teach how to use and manage accounting and resources and avoid mistakes caused by managers' lack of financial competence. Therefore, a trained instructor must guide the game to complete all of the game cycles. Twelve FIT professors and VUAS administration employees have completed the instructor courses.


The board game was purchased with the help of project No. 8.2.3.0/18/A/014 "Ventspils University of Applied Sciences study program quality development, utilization of resources for improving efficiency, and availability of better management." This project, No. 8.2.3.0/18/A/014 is being carried out with the assistance of the European Union Social Fund. The project's total cost is EUR 229 800.00, of which the planned amount of the European Union Social Fund is 85% of the total cost – EUR 195 330.00 – and the amount of state funding is 15% of the total cost EUR 34 470.00.

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Letter of support

By Elīna Ērkšķe • 03 Mar, 2022
Dear colleagues and friends, Last Thursday marked a dark moment in the history of Europe and the world as we became witness of a brutal and unprovoked act of war by Russia against a sovereign nation in the centre of Europe - Ukraine. We are deeply saddened by this. We at Ventspils University of Applied Sciences stand with the people of Ukraine at this difficult time and join the international community in condemning on the strongest possible terms the act of illegal aggression. We are prepared to offer every possible support within our means to staff, researchers and students at your institution. We are open look into the possibility to host your staff shorter or longer for periods of time. Once again - we stand in solidarity with the people of Ukraine and our thoughts are with all those directly or indirectly impacted by this invasion. Yours sincerely, Dr. Karlis Kreslins Rector of the Ventspils University of Applied Sciences Foto: Shutterstock
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