Accounting students from the Faculty of Economics and Business, Universitas Indonesia (FEB UI) who are members of the Viridis Team and the Fuego Team, won 1st and 2nd place in the Institute of Chartered Accountants in England and Wales (ICAEW) Indonesia Business Challenge 2022 event organized by ICAEW online, on Saturday (09/04).
ICAEW Indonesia Business Challenge 2022 is an annual business case competition at the national level, aiming to train accounting students’ abilities to think critically in analyzing business and finance, as well as hone skills in accounting, finance, and business case solving.
In the preliminary stage, there are 31 teams competing to become the Top 10. Then, the Top 10 Teams will compete in the final round to win the title of winner, runner-up, and best speaker for the best presenter. In addition, the 2 winning teams (winner and runner-up) are entitled to represent Indonesia at the Regional Grand Final stage at the ICAEW Greater China and South-East Asia Business Challenge 2022.
The Viridis team was named the 1st Winner thanks to the paper and pitch deck that contained an analysis of the values, strengths, and weaknesses of a company in making films. Then, they explained the company’s position as the entertainment industry, identified significant risks that may occur, made financial projections of the company in making decisions to invest in an item, and were able to provide strategic recommendations for the company in dealing with future risks from complex problems and cases provided by ICAEW. This team consists of Arinda Dara Ninggar, Claudio Richard, Gabriel Fiorentino Setiadin, Irene Rosari Narindraningtyas, Jessica Permata Surya, and Muhammad Netado Sanrego.
“For paper work, most of the data came from the case file that was sent. From there, our team processed various available data, such as financial and budgeting reports as well as business and industry information for the company that is used as case material. In addition, our team also used several external sources in determining the appropriate framework to answer questions in the case,” said Netado.
Furthermore, Netado said that the success of the Viridis team was also achieved with the guidance of several lecturers from the Accounting Department of FEB UI, namely Dr. Ancella A. Hermawan, MBA, CA., Edgar Ekaputra, SE., MM., and Luluk Widyawati, S.E., M.Bus., Ph.D. They played a role in preparing the presentation for the final round by providing criticism and suggestions on how to make a presentation.
Meanwhile, the Fuego Team consisting of Felisita Agustinus, Khalisha, Komang Bintang Sanjiwani M, Lunetta Adela Maheswari, Muhammad Azzam Farras, and Muhammad Jihad won 2nd place (Runner-up). The Fuego team was able to act as ICAEW Chartered Accountants working for company X. The team was asked to work for business client Y and prepare business recommendation papers and short presentation decks for later meetings with client Y’s Board, specifically analyzing Strengths, Weaknesses, Opportunities, Threats (SWOT) in 3 significant risks and the team’s recommendations on future business strategies.
“The data obtained during the competition was sourced from cases provided by the ICAEW Business Challenge, especially the calculations attached to the presentation of a comprehensive appendix and the Google search engine to find credible references, both statistical data and business trend developments. The success of our team too, just like the Viridis Team, happened thanks to being mentored by Dr. Ancella Hermawan, Edgar Ekaputra, and Luluk Widyawati,” said Felisita.
For this victory, Team Viridis and Team Fuego will prepare themselves to represent Indonesia in the ICAEW Greater China and South-East Asia Business Challenge 2022 competition. They will compete with 10 teams from 5 different countries.
