By: Carrie Gilmour
Two student teams comprised of SAF students headed to the University of Ontario Institute of Technology (UOIT) Connect Conference, held in Oshawa, for 2 days of networking and presenting, and brought back 1st and 3rd place.
First place winners, Leo Lin, Daniyal Ahmed, and Nathan D'Souza (from left) had a strategy going in to divide the case between the three of them and then collaborate their ideas, something that can be very tricky if not done smoothly.
The team tells the SAF, "Planning was critical to our success. As soon as we read the case, we divided ourselves to focus on individual tasks. One of us focused on the quantitative aspect of the case, preparing the cash budget and the ratio analysis. While two of us focused on the qualitative aspects of the case including the marketing plan, business structure, and key deliverables.
We then ran through the entire case, both qualitative and quantitative aspects, as a team so each one of us was familiar with the all the information. Then we collectively conducted our analysis and prepared our recommendation."
The risky strategy paid off and the judges were blown away by all of their knowledge on the case as well as their presentation skills.
We learned that our seamless integration of various concepts of managerial accounting, ratio analysis, and marketing coupled with strong presentation skills made us stand out. Our ability to transition from one speaker to another without any break in communication along with being able to cover all the content without being pressed for time really set us apart from the competition.
First-place winners were delighted with the case as they learned key elements for a successful start-up company to thrive.
The case focused on start-up consulting which allowed us to see how different financing options affect a company’s cashflow, profit, and financial health. It gave us a chance to analyse different approaches to setting up a business and learn how company structure and initial brand awareness affect the success of a business.
Accounting for the Future, was the theme of the competition created to incorporate the recent changes to the field by understanding the historical information and looking to the future, to where they think the profession is heading.
Congratulations to both teams, the SAF is very proud of you!