Extreme Accounting

Extreme Accounting...doesn't that sound delicious?

My friend James and I, along with 3 other accounting students, gave our presentation as part of the PricewaterhouseCoopers Xact Competition yesterday. Basically, two weeks ago, PwC came to campus and gave every team competing a course packet, describing a scenario. The country of Coresenna wanted to change their entire accounting regulatory environment from one governed by rules to one governed by principles. That may sound simple enough. But do not be deceived. It was challenging.

We spent two weeks researching, writing the script for the 12-minute presentation, getting a packet of solutions created and printed, making the powerpoint, and preparing for 10 minutes of questions by a panel of the "Prime Minister" and members of the "Coresennan Business Alliance" (PwC fellows posing as governmental figures).

After two weeks of constant work, we presented. Our hopes were high. We did a great job. But a great job doesn't always assure victory. The competition was swift.

We did win two things out of this: a great learning experience. And. Dinner at Mansurs on the Boulevard. A world-class dining experience.

So I now have a life again and maybe if you're my friend, I'll exchange words with you and not say, "I"m going to work on that project." I'll say "I've got to actually work on a class project" now. Wink wink nudge nudge.