Four students from the University of Southern Indiana’s Romain College of Business placed third for their presentation in the 2013 American Institute of Certified Public Accountants (AICPA) case competition in Washington, D.C. The Romain College of Business has a reputation of being successful in many types of student case competitions, and being a finalist in the nationwide AICPA competition is a significant accomplishment.
Earlier this year, a team of accounting students won the IMA national case competition in New Orleans when they competed at IMA's 94th Annual Conference and Exposition. In the last decade, USI accounting students have won nine case competitions, sponsored by the IMA and the Indiana CPA Society.
The USI "Screaming Eagles" team received $2,500. Team members were accounting majors Bryant Cornelius of Oden, Brooke Neuhoff of Huntingburg, and Nick Muensterman and Lauren Perigo of Evansville. Timothy Bryan, instructor in accounting, served as faculty advisor for the team. USI’s team was among more than 150 teams from universities nationwide participating in the competition.
The competition was comprised of three separate rounds. The first round each team was required to submit a written analysis of the case. A panel of judges selected the top fifteen teams based on an evaluation of the written analyses. In the second round (the “Semi-finals”), the fifteen qualifying teams were asked to create a video presentation and supporting documentation related to another set of financial planning decisions. The three finalists selected from the top fifteen teams participated in the third round.
On December 20, each of the top three teams presented their recommendations on estate planning decisions in front of an executive judging panel in Washington, D.C. It was an in-person presentation, and each finalist presentation was ten minutes in duration, with an additional “question and answer” period after the presentation.
This year's team addressed personal financial planning issues faced by a software developer and his spouse at different stages in their life. The first round addressed issues in the early stages of their careers, the second round addressed mid-career decisions, and the third round addressed decisions made later in life.
The American Institute of Certified Public Accountants (AICPA) is the national professional organization of Certified Public Accountants (CPAs) in the United States, with more than 350,000 members in 128 countries in business and industry, public practice, government, education, student affiliates and international associates. The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments.