Congratulations on your big win! How did you feel when they announced Goodman as the winning school?
Pirasaanth: I was really excited and proud when they announced Goodman as the winning school. I felt that we had put forth a strong presentation with very in-depth details. When we were announced as the winning team, I couldn’t help but feel accomplished and extremely joyful.
Pavel: It was very satisfying, of course! I, however, felt rather exhausted at the end of the lengthy competition day. For me the most emotional part was earlier, when we learned that our team was among the three finalists.
Josh: Ecstatic! The victory was a well-deserved end to an event filled with highs and lows, from networking with students representing universities across numerous provinces to the time crunch in the deliberation room and making that final, nerve-racking presentation to the other delegates and industry professionals from many well respected enterprises. During the entire process, finalists do not have the opportunity to compare solutions or see each other present, so we were left completely in the dark on how we stacked-up compared with the other competitors. Being recognized for the ability to effectively apply experience and lecture material to business scenarios in a high-pressure environment definitely grounds a feeling of great accomplishment and motivation.
What was this year’s Achieve case about?
Pavel: This year’s case was about a company providing a driver training service. It had recently leased a fleet of new vehicles and opened a large number of new offices. The major accounting issues were deciding on the appropriate treatment for the lease and the handling of developed and acquired intangibles.
Shuvendu: The company had issues of internal control and absence of proper financial representation. We had to figure out the internal controls and explain their implications. The audit risks and procedures were to be highlighted with reference from CICA handbook and IFRS.
Pirasaanth: The case was definitely a UFE-style case which put us (the participants) in the role of an internal auditor of a driving school organization. We were required to assess the forecasted financial statements and identify any accounting issues in the statements, so that we would have them ready for the upcoming audit. We were also responsible for recognizing internal control issues and suggestion recommendations to fix these issues.
Josh: Overall, Achieve 2014 focused on international business and leadership. The case itself was similar to what is found on the Chartered Accountants of Ontario Uniform Final Exam, and ranged from simple ratios to complex and detailed calculation requirements, outlined by the Generally Accepted Accounting Principles, and further into financial analysis, all of which must be completed along with a strong PowerPoint presentation in no longer than two hours.
A big part of every case competition is the presentation to the judges. After having spent two hours working on your case analysis, how did you feel when you were presenting to the judges?
Josh: In no way is two hours an adequate amount of time for the requirements of the case! From the moment that the scenario is given to you and up until the last second before it is your turn to speak in the presentation, you’re constantly going over how you to present your section, how you can showcase that you are an expert.
Shuvendu: Overall, we were really confident about our calculations and analysis of the audit risks. Our slides were not that pretty so we were afraid that we would lose a lot of points for that.
Pavel: I felt rather confident, because our presentation had a distinct structure and all members knew their topics. The Q & A section at the end of the presentation was a little tougher, because we had to come up with answers on the spot, but nothing extraordinary.
Pirasaanth: I was still a little nervous because we ran out of time and were not able to include some other information which I felt was crucial. However, during the actual presentation to the judges, I was very confident and was prepared for any questions the judges would ask.
Josh: Although it can become very stressful when facing such strict time constraints, it is a great chance to gain experience on how it will be in the real world.
The Achieve Conference is more than just a competition: you also took part in workshops and team building events. What was your favourite workshop of the weekend?
Pavel: I cannot say that I have a favourite. Workshops offered were informative, but a lot of the information presented had already been covered in Career Development Office workshops I have attended at Goodman.
Shuvendu: My favorite one was the ice breaker which was held at Mattamy Athletic Centre. The task was that each team was given a topic and one minute to think about it. Then we had to give a two minute presentation on that topic based on a set of pre-designed PowerPoint slides.
Pirasaanth: My favourite workshop was also the icebreaker. We also had a table full of props to incorporate into our presentations. The topics were hilarious and provided everyone with great entertainment.
Josh: I would never be able to limit my favourite workshop to just one! In every session we were given great opportunities to network with other students and business leaders representing an array of industries, as well as valuable and engaging lessons with practical applications. From the first event where each team was given a four to five slide presentation covering trending topics and 90 seconds to prepare to meeting and learning from Nadir Mohamed (President & CEO, Rogers Communications), Amie Lear (Consultant, Densmore Consulting), James Temple (Director of Corporate Responsibility, PwC), and many other successful leaders from CPA Ontario, CGA Ontario, and distinguished accounting firms, all of the events were geared to the success of the participants.
What’s up next for our winning team?
Shuvendu: This win motivated me enough to involve myself more to make my “Goodman journey” a worthy one. I plan to participate in next year’s TRMC, Monster Pitch, Canada’s Next Top Ad Exec and a couple more business conferences.
Pavel: I will be graduating this summer. I have also been accepted into Goodman’s Master of Accountancy program, which I hope I will be able to start next January.
Pirasaanth: I will be attending the DECA International competition in April, which will take place in Washington D.C. I am very excited to be participating in this event. Afterwards, I will be graduating in May and looking forward to entering the full-time workforce!
Josh: I’m excited to now use this experience in additional competitions, as well as academically and in my co-op work terms. In May 2014, I will complete my first co-op term with PwC, participate in the University of Waterloo’s Accounting Conference and continue on in my pursuit of earning professional designations. I plan to continue competing in these competitions and in my final academic year bring my experience and skills to the organization and execution of Brock’s Accounting Conference. Depending on my co-op stream and employer flexibility, I hope to participate in Brock’s exchange program and take full advantage of the programs offered to students in the Goodman School of Business. Overall, I’m glad I took a risk and attended Achieve as a junior member of Brock’s team. If anyone reading this is looking for great programs to be involved in, but faces hesitation in applying or attending, I hope that the stories my team members and myself have shared encourages you to take a chance and immerse yourself in whatever it is that you choose to do.