A four-member team of University of Southern Indiana accounting students recently took first place in National Student Case Competition, sponsored by the Institute of Management Accountants (IMA).
They shared a total of $5,000 in prize money.
"When we finally heard 'And first place goes to the University of Southern Indiana' it was very exhilarating," said Amy Oglesby, one of the team members.
"At that moment our team truly felt that all our hard work and seven months of preparation had paid off."
Besides Oglesby of Galatia, IL, the team included Andy Dill of Princeton, IN, Brad Greene of Georgetown, IN, and Angela King of Santa Claus, IN.
USI faculty sponsors were Brian McGuire, chair of the school's Department of Accounting and Business Law and an accounting professor, and Jeanette G. Maier-Lytle, an accounting instructor.
As a competitor in the program's final four, the USI team received an award of $3,000. As the winner, the team received an additional $2,000, said McGuire.
The awards were given during the 89th Annual Institute of Management Accountants Conference and Exposition in Tampa, FL.
A total of 25 teams from across the country and China initially competed.
The Institute of Management Accountants, based in Montvale, N.J., sponsors the competition to help promote sound financial and accounting analysis and presentation skills.
The organization is composed of management accounting and finance professionals and includes about 70,000 members worldwide.
The USI students' case study focused on providing leaders of a nonprofit organization with useful information for budget support, planning and control.
The study also revealed the need to set benchmarks for determining whether the organization is succeeding in reaching its goals, said McGuire, president of the nonprofit Evansville Philharmonic Orchestra.
He said he was able to relate to the study as he knows firsthand of challenges a nonprofit group faces in meetings its budget.
Judges, representing industries and academia from across the country, chose the finalists based on the technical content and presentation skills exhibited in videos they prepared.
The judges also considered the teams' live presentations.
Oglesby was a member of the competition team for the second year and also was on the 2006 and 2007 USI teams that took first place in Indiana CPA Society (INCPAS) Case Study Competition.
Greene and King also were on the 2007 team in the Indiana CPA Society competition.
The USI College of Business team has won that competition four straight years.
Reprinted with permission from the Evansville Courier and Press