Are you in search of some team building activities for the accounting department?
In any company, teamwork is crucial for success. If you’re a business leader or in charge of the accounting department, you might want to foster strong relationships between your employees.
In this article, let’s see 10 accounting team building activities you can try. They will help build relationships between employees and improve their overall performance.
10 Team Building Activities for the Accounting Department
Let’s delve into some of the best team building exercises your accounting department can participate in.
#1. The Numbers Game
This activity encourages employees to use their problem solving skills and work together to find the right solution.
Time: 10-15 minutes
Materials: Paper and pen
Participants: 2 to 6 members per group
- Give a sheet of paper containing a set of numbers to each group.
- They must use those numbers to solve puzzles or problems.
Find the sum of all the numbers.
Identify patterns in the set of numbers.
- Each group has to arrive at the right solution within a time limit.
- The group with the correct solution wins.
Figure out what strategies each group used to solve the problem and what challenges were encountered. Also, discuss how communication and teamwork helped in reaching a successful outcome.
#2. Accounting Quiz
This is a great activity to review various accounting concepts as well as build camaraderie among the team.
Time: You decide
Materials: Prepare some accounting related questions; paper and pen
Participants: Three or more teams of minimum 2 members
- Give each team a set of accounting questions with multiple answer choices.
Q: What type of business entity is registered as a separate legal entity from its owners?
b) Sole Proprietorship
d) Limited Liability Company
- Allow them some time to discuss the questions and record their answers on a sheet of paper.
- Then, they can turn in the completed papers to the facilitator.
- The team with the most correct answers wins the game.
Discuss how the team worked together and utilized their knowledge of accounting to come up with the correct answers. Also, explore what went well and areas that need improvement in terms of working as a team.
#3. Budgeting Battle
This is a team building game aimed at honing budgeting and problem-solving skills.
Time: You decide
Materials: Paper, pen, and calculator (optional)
Participants: Two or more teams of minimum 3 members
- Each team will be given a hypothetical company scenario that they must use to create a budget. For example, the scenario can be that the company sells products online with an estimated monthly revenue of $10,000.
- The teams must come up with a budget to cover all costs and expenses required for the hypothetical company to run successfully. This includes salaries, rent/utilities, taxes, marketing, etc.
- At the end of the exercise, each team will present their budget and explain why they chose certain expenses over others.
- The team with the most accurate budget will be declared the winner.
Explore how communication and collaboration helped in achieving an accurate budget. Also, evaluate the team’s decision making skills and their ability to work together under time pressure.
#4. Expense Allocation Game
This is a valuable exercise for fostering strategic thinking and financial management skills in your accounting team.
Time: Around 15 minutes
Materials: None (but use paper and pen if necessary)
Participants: 3 or more employees of any level per team
- Provide each team with a budget and some sample expenses. For example, they may need to distribute $50K among 10 different expenses.
- Each team must discuss how to spend the allocated funds well on each of the expenses while still meeting their budget constraints.
- They must then present their final allocation to the facilitator for evaluation.
Discuss the group’s approach to problem-solving and decision-making. Moreover, highlight the importance of accurate budgeting and planning skills in order to make sound financial decisions within a company.
#5. Blindfolded Bookkeeping
The activity can help improve bookkeeping skills while building trust and collaboration among team members.
Time: 15-25 minutes
Participants: At least 4 employees of any level (from beginners to experienced professionals) in a group
- Divide the participants into groups and provide each group with a blindfold.
- Each group should select a “bookkeeper” who will be blindfolded throughout the exercise.
- The facilitator will present each group with a set of bookkeeping tasks. For instance, setting up accounts, entering transactions, or reconciling account balances.
- The remaining group members must help the bookkeeper to complete the task by providing verbal instructions.
- The team with the most accurate results at the end of the exercise wins.
Discuss the benefits and challenges of working together as a group. Additionally, emphasize the importance of trusting your team and having the confidence to take on a challenge that may seem daunting.
#6. Risk Analysis Challenge
This is one of the intellectually stimulating team building activities for the accounting department. Here the accountants can understand and analyze financial risks.
Time: You decide
Materials: Paper and pen
Participants: 3 or more employees in a group
- The facilitator will present a series of scenarios, one by one. For example, “Your company is considering a new venture. What are the risks associated with this?”
- The group members should work together to identify and list all the possible risks related to each scenario.
- Each group will have a limited time for each scenario before moving on to the next one.
- Finally, review what they have written.
Discuss the risks identified in each scenario, and explore why some were missed. Also, encourage the employees to share their views on how the risk could have been managed or reduced.
#7. Presentation Challenge
This exercise will improve the employees’ ability to present intricate financial data effectively. It also enhances their communication skills and confidence in public speaking.
Time: You decide
Materials: A financial dataset (provided by the facilitator)
Participants: Any number of individuals per team
- Give each team a financial dataset from which they must create a presentation. For example, a dataset might include monthly revenue for the past year.
- Allow them some time to prepare and do their presentation.
- The team with the best overall presentation – as judged by the facilitator or other teams – wins!
Discuss the importance of communication and presentation skills in the accounting world, and how to convey complex data with clarity. Talk about the value of collaboration in teams when working on a project.
#8. Spot the Mistake
This activity involves employees reviewing financial reports to find deliberate mistakes. It is a stimulating exercise that helps hone their keen eye for detail, a crucial skill for accountants.
Time: You decide
Materials: Financial reports with deliberate mistakes (provided by the facilitator)
Participants: Any number of people in a group
- The facilitator will provide the groups with financial documents that contain intentional mistakes.
- Each group must go through the documents and find as many mistakes as they can. For example, the documents may contain incorrect balances, wrong figures, or miscalculations.
- For each mistake discovered, the groups should explain why it is a mistake and how to correct it.
- Finally, the group that finds more mistakes quickly will win!
Talk about the importance of accuracy, attention to detail, and problem-solving skills when reviewing financial documents. Encourage participants to think critically by questioning assumptions and digging deeper into data points.
#9. Guess the Number
This is one of the simple yet exciting accounting team building exercises. It helps in sharpening the communication and analytical skills of your accounting team.
Time: 10 minutes
Participants: Any number of members in a group
- The facilitator will provide an envelope with a “secret” number to each group. For example, the secret number could be 34.
- Then, ask them to guess it in as few attempts as possible. However, they must not open the envelope unless instructed.
- Each group must discuss how they will go about guessing the correct number and then take turns to make their guesses. They should not reveal their guess to other groups or the facilitator.
- Every time a group makes a guess, the facilitator will provide them with hints such as “too high” or “too low” to help narrow down their options.
- The group that guesses the correct number in the fewest number of tries wins!
Discuss the team’s decision-making process and how they leveraged previous guesses to narrow down their choices. Furthermore, highlight the importance of effective communication when working with different groups within an organization.
#10. Negotiation Exercise
The goal of this exercise is to come to a consensus on a fictional issue, promoting negotiation skills and collaboration in your accounting team.
Time: 15-30 minutes
Materials: None (But provide paper and pen for note-taking)
Participants: Need at least 2 groups of small-size
- Introduce a fictional scenario in which two groups should negotiate an agreement. For example, negotiating a change in terms for a contract between two companies.
- Now, assign different sides of the scenario to each group.
- Ask each group to develop their positions on the issue and present them to the other group.
- At the end, both groups must present a resolution that they came to an agreement on.
Discuss how effective negotiation and communication skills can be applied in real-world accounting scenarios. Additionally, highlight the importance of teamwork in accounting and how working together can lead to better outcomes.
Want Some Unique Team Building Activities?
If you want some unique activities (both in person and virtual) for your employees, you can get my new e-book:
Team building exercises are more than just fun; they are necessary to foster a strong accounting department. The activities outlined above will help your staff improve their soft skills, and also strengthen their understanding of key accounting concepts. So, incorporate these activities into your routine, and watch your employees’ productivity soar!