Virtual labs are emerging as a practical approach for teaching accounting practices in environments where enterprise systems, audit tools, and realistic transaction cycles are otherwise difficult to provide at scale. This paper develops a structured framework for virtual accounting labs—interactive, scenario-based learning environments that simulate business processes such as procure-to-pay, order-to-cash, payroll, bank reconciliation, and period-end closing. Drawing on learning theory and information systems success models, the study proposes a design architecture that integrates authentic datasets, role-based tasks, feedback loops, assessment rubrics, and analytics dashboards. A mixed-method evaluation design is presented, including pre/post competency assessments, task-performance logs, and student perception measures. Results from a pilot-style evaluation (illustrative dataset) show improvements in procedural accuracy, internal-control reasoning, and technology confidence, with the strongest gains among students with limited prior exposure to accounting software. The paper concludes with implementation guidance for faculty, governance considerations (privacy, academic integrity, accessibility), and a future research agenda around AI-assisted feedback and adaptive lab pathways.