28 Secondary Schools Compete In The Inaugural NYP-ACCA Accounting Challenge

Online, March 24, 2011 (Newswire.com) - With a shortage of accounting talents in Singapore, ACCA and Nanyang Polytechnic take the lead to inspire young people to consider a career in accountancy through the inaugural NYP-ACCA Accounting Challenge, a fun and interactive competition designed to shine the spotlight on the accountancy profession and to inspire more to consider accounting as a career choice.

135 students forming 27 teams of five from 27 secondary schools participated in the NYP-ACCA Accounting Challenge held today. The contesting teams had to go through an elimination stage - a qualifying round which saw only the best five teams make it to the finals.

Finalists in the competition then participated in an International Pop Concert scenario game where the scenario of planning a pop concert was used to illustrate how financial decisions can impact upon the success of an organisation. The business game provided participants with close to life experiences that accountants could encounter in their jobs, and required them to think carefully about the implications of any business decisions they make.

After displaying excellent cooperation and quick strategic thinking, the team from Bedok North Secondary School delivered a stimulating business presentation to emerge champion. The champion team won $1,000 in cash and a commemorative trophy. Clementi Town Secondary School took home the 1st Runner-Up position and received $500 while Jurong West Secondary School took the 2nd Runner-Up position and a cheque of $300. The 2 other finalists, Hua Yi Secondary School and Outram Secondary School took home $100 in cash per team.

"Accounting today is far from the number crunching days of the past. Accountants play a really important role in any organisation and we aimed to demonstrate this through the challenge," said Darryl Wee, country head of ACCA Singapore.

"As the accountancy sector in Singapore grows, we should continue to see a demand for the ACCA qualification," said Darryl. "ACCA will continue to do its part to promote interest in the profession and nurture tomorrow's accountants."

"I warmly congratulate the five teams on their success," said Chiang K K,Director of NYP School of Business Management. "It was a great opportunity for students to participate in an exciting and challenging event and to use their business management and accounting skills while having an enjoyable time. We hope to present this on a bigger scale next year."