The School of Accounting and Finance (SAF) applauds the 2012 MikesBikes World Champions. Two teams from the University of Waterloo made it to the final round of the competition, with Accounting Cyclers taking first place! Congratulations to Ray Liu, Liang (Zhongshi) Chen, Alice Poon and Daniel Zhang! As the winning team, they took home a cash prize totaling $600 US, and will be featured on the Smartsims’ website.
This year marks the second championship that a University of Waterloo team has garnered at the Mike’s Bikes world competition, the first having been in 2009.
The students were prepared for the online competition by having taken the Accounting and Financial Management (AFM) 131 – Introduction to Business in North America course. The course gave them the foundational knowledge needed in order to interact with real financial reports, use forecasting tools and other strategies to analyze the market environment for their company.
It is impossible to talk about our success without addressing the plethora of time we spent on the game as well as the debates within my brilliant team to settle different opinions. Hard work set us the right direction and great teamwork made our dream come true. Last but not least, thanks to the course AFM 131 and Prof. Sproule for offering us the opportunity to get access to this game. Without this course, our talents would surely be nowhere to shine.
- Rui Peng Liu, Accounting Cyclers.
An online competition, the simulation offers a unique opportunity for student teams to test their business, management and leadership skills against other peer groups around the world, while competing to maximize their company’s shareholder value. The Waterloo teams were the only Canadian teams competing, with Accounting Cyclers, beating out student teams from the US, and New Zealand in their final competition round. In the end, Accounting Cyclers took first place with an impressive Shareholder Value of $337.28. In third place, Still Life on a Pear, another team from the University of Waterloo, finished with a Shareholder Value of $167.27.
We are delighted that our students were able to successfully apply the skills they learned in the classroom to a real-world situation.
Our team was very fortunate - we quickly found out that each member had a unique skill-set that could contribute tremendous to various facets of the simulation. Whether it be efficient number-crunching, organizational skills, or just making the team laugh when the class assignments and simulation results weren't at their highest points, we had a team that worked really, really well together.
- Daniel Zhang, Accounting Cyclers.