ACCOUNTING PROFESSION AVENUE 2017
This programme was organized by USM Accounting Society at University Science Malaysia on the past 26th March 2017 (Sunday).
NOVAC-TISSA brought a team of students which consisted of 37 students to attend this programme which had been invited by USM Accounting Society. Accounting Profession Avenue 2017 (APA 2017) held from 25th of March until 26th of March and we just participated in the second day of the programme which consisted of conferences, workshops, forum, career booth, business challenge and themed dinner. APA 2017 invited the students from USIM, UiTM, Politeknik and others to join this event.
For the career booth, organizing committees of APA 2017 prepared few slots for the participants to have a chance to visit the booth which consisted of Big 4 firms and Professional Accounting Paper such as PwC, KPMG, ACCA, MICPA and others. Besides, the organizing committees of International Accounting Youth Camp 2017 (IAYC 2017) managed to get a booth from APA 2017 on 26th March 2017. Throughout the booth, we managed to attract the participants to visit our booth too. By visiting to our booth, we got the chance to promote our event to the other university's students. It was a big step for us to promote about IAYC 2017 before we send the formal invitation letter to others through universities.
Also, there were conferences and forum which shared by ACCA, MICPA, ICAEW, Deloitte and other firms. We managed to learn and received a lot of benefits through the experts' sharing and their experiences. Besides, the forum that conducted by the moderator with 4 experts which from EY, PwC, Deloitte, KPMG and BDO really interesting and there was a Q&A session after the forum. The participants were given the chance to question their curiousness towards the real business world to the experts. The experts shared and gave a lot of suggestions and ideas on that.
About the business challenge is each team were allocated a sum of money, we play our role as a manufacturer, using our money to buy inventory from a general manager and try to sell them to customers. The biggest challenge that we met was we don't know how much and what kind of item we should buy because we don't know the market and demand of customer (act and play by committee). We have to do calculation and budgeting on how to manage our inventory and also invest our money. There was another role like Banker, Lucky Draw, Kahoot Quiz Challenge Counter, Game counter to earn extra money which guided by their committee. There was another technique like spending money to buy power card such as advertising campaign card to increase sales, budget card help reduce cost and just to name a few. For the whole game is one hour and divided into 4 quarters. Besides we have to pay our own debt around RM300,000 to RM500,000 each quarter. There is a small break in between each quarter for us to discuss our strategy. We had risk ourselves by invest 80 % of the money. At first, we left several inventories can't be sold let us down, incurred loss in first quarter. Start by second quarter we buying advertising campaign to boost our sale, we are determined and confident, we still invest almost 90% of the money and get 200% profit.
Lastly, we had been invited to the themed dinner, traditional night; all of us were in traditional costumes. During the dinner, the organizing committees did prepare us the performance. The prize-giving ceremony was held at the end of the dinner. 2 teams of our NOVAC-TISSA students won the second runner-up and champion in the business challenge game with the team given. Also, our NOVAC-TISSA member, Francisca John managed to win the prom queen with the best outfit throughout the dinner.
As a conclusion, we got a lot of benefits in terms of getting the suggestions and advice from the companies, we did enlarge our networking too. Throughout the day in USM, we did approach with the students who came from various universities. Also, the president of Accounting Society USM, Lim Jia Zjun appreciated us for attending and supporting this event.