Create a business plan for a mock business to reflect business money management. The business plan should include how you intend to make money and what you are buying or selling in order to do this. Each student should create a business plan and then present it to the class. The class can then have a discussion on the various business plans and which of them is more likely to succeed.
Managerial accounting takes into consideration the management of the accounting side of a business -- whether it is an actual accounting business that works with other businesses to create budgets and make money or a regular business that needs to implement accounting practices. Do a project on the specific accounting practices of one business. Be sure to focus on how that business handles its money, how it maintains its cash flow and how the managers understand the amount of money available.
Managerial accounting also focuses on group management -- or several people working together to make a business succeed. Students can work together in a group to come up with a business plan and execute a mock business. Accounting practices and budget creation are the two main components of this project as students can demonstrate an understanding of both accounting and management as they work together in a group.
Some projects focus both on business accounting and marketing practices and how they fit into accounting. All businesses require marketing in order to succeed, but the money spent on marketing must not be greater than the money brought in because of marketing. Select several businesses in your area and do a study of their marketing techniques and how they fit into the overall accounting and business practices.