#Japan #Tokyo #Money Forward #Chuo University #SaaS Education

Money Forward Collaborates with Chuo University for an Innovative Startup Experience Program

In a significant move to foster practical business education, Money Forward, Inc., a leading SaaS provider, has expanded its collaboration with Chuo University’s Faculty of Commerce. This partnership centers around the Startup Experience Program, an initiative where students can establish and manage a mock corporation, providing them with real-world insights into business operations and financial management.

Expanding Service Offerings

Recently, Money Forward announced that it will provide not just its core product, the 'Money Forward Cloud' accounting service, but also additional tools such as the 'Money Forward Cloud Consolidated Accounting' for free to support the program. This tailored offering aims to assist students in understanding complex accounting processes as they simulate various aspects of running a company. This year, students will also engage in consolidated financial statements for a parent company and its four subsidiaries.

The practical nature of the program enables students to experience a range of company operations— from project planning and fundraising to audits and holding shareholder meetings. Money Forward first began this collaboration in the 2021 academic year, providing access to its cloud-based accounting software to enhance experiential learning.

Hands-On Learning Experience

The Startup Experience Program emphasizes a hands-on approach to education. Students enrolled in the seminar will operate a mock company, progressing through stages that include creating financial statements, conducting auditing processes led by certified public accountants, and participating in simulated shareholder meetings. The 2023 program promises to challenge students further by introducing more complex consolidated accounting tasks using the newly provided resources from Money Forward.

As part of the program, students will utilize various Money Forward products, including:

• - Money Forward Cloud Accounting Plus for accounting tasks and financial statement preparation
• - Money Forward Cloud Invoice and Money Forward Cloud Accounts Payable for managing billing and payment processes among mock companies
• - Money Forward Cloud Expenses for handling expense claims and reimbursements
• - Money Forward Cloud Consolidated Accounting for performing consolidated financial accounting.

Faculty Insights

Professor Kiyotaka Shio of Chuo University’s Faculty of Commerce, who oversees the seminar, has expressed enthusiasm about this collaboration. The theme for this year’s program is 'Accountants in the AI Era,' focusing on developing accounting professionals well-versed in digital technologies. This year's program aims to facilitate group management based on diverse business scales, challenging students to utilize the 'Money Forward Cloud Consolidated Accounting' system for complex consolidated financial statements. Professor Shio remarked how invaluable it is for students to engage with advanced accounting and ERP systems early in their careers, appreciating Money Forward’s support in this endeavor.

Features of Money Forward Cloud Consolidated Accounting

The 'Money Forward Cloud Consolidated Accounting' system is designed to streamline data collection and file management across multiple affiliated companies, enhancing the visibility of financial conditions. Thanks to seamless API integration with 'Money Forward Cloud Accounting' and 'Money Forward Cloud Accounting Plus', users can automatically gather data. Additionally, it facilitates Excel file imports, making it adaptable for users of various accounting software solutions.

To learn more about the product, visit Money Forward Cloud Consolidated Accounting.

About Money Forward, Inc.

Founded in May 2012 and headquartered in Minato, Tokyo, Money Forward, Inc. specializes in platform services, providing innovative solutions that enhance financial management for a wide range of users. For more information, visit Money Forward’s Corporate Site.

Through this progressive initiative, Money Forward aims to encourage the use of its cloud services in educational settings, ultimately contributing to the development of the next generation of IT-savvy accounting professionals.