LSU ACCOUNTING THREE-PEATS AS A NATIONAL FINALIST

February 8, 2007

For a third consecutive year an accounting team from LSU’s E. J. Ourso College of Business reached the finals of PricewaterhouseCoopers Extreme Accounting Competition.

On Jan. 18 and 19, 2007, five teams that advanced from an initial pool of 405 took part in the competition’s two-day finale. The nationwide event began last November. Aside from LSU, teams representing Hampton University, Indiana University, New York University and Wake Forest University were present.

LSU’s Team Synergy was composed of Heidi Giles, a sophomore in the honors college from Lafayette, La.; Wade Giles, a junior in finance from Lafayette, La.; Glenn Penton, a sophomore in finance from Kenner, La.; Mycah Perry, a junior in arts and sciences from Baton Rouge, La.; and Stephanie Smith, a senior in accounting from Ville Platte, La. Department of Accounting Instructor Laura DeLaune served as the team’s faculty advisor.

“This is the third consecutive year a team of our students has reached the national finals of the PricewaterhouseCoopers xACT Competition,” Dean Robert Sumichrast of the E. J. Ourso College said. “Their accomplishment is testament to the quality of our accounting program and the students’ own hard work. Certainly I am pleased with their performance and hope future teams will follow their impressive lead.”

Accounting teams from LSU’s E. J. Ourso College won the national championship for the event in 2004 and 2005. Last Friday’s event wrapped up the 2006 competition.

“Laura DeLaune called me from New York shortly after the competition and told me our team was flawless and answered very technical questions in impressive fashion,” Department of Accounting Chair Barbara Apostolou said. “The team will share a $16,500 cash prize for their accomplishments. I am immensely proud of them and Laura’s mentorship.”

The xACT Competition gave students two weeks to prepare a solution and 12-minute professional presentation on the issue of having a fictional country transition from rules-based accounting to principles-based accounting for partners of PwC. Teams were asked to outline a transition strategy, anticipate possible challenges during the transition and ultimately present their strategies to a fictitious ruling body.

For more information about the accounting department at the E. J. Ourso College, visit www.bus.lsu.edu/academics/accounting.