Monash students win global accounting competition

18 May 2023

Winning students Soe Phyoe, Baldeep Singh, Sarah (Xiaochen) Wang, Chengteck Lee, Mitchell Dorling, Natalie Wong and Aditya Jain with (2nd from right) Dr Daniela Juric.

Winning students Soe Phyoe, Baldeep Singh, Sarah (Xiaochen) Wang,
Chengteck Lee, Mitchell Dorling, Natalie Wong and Aditya Jain with
(2nd from right) Dr Daniela Juric.

Monash Business School students have taken out top honours in a prestigious competition that challenges the best and brightest accounting students from across the globe.

The annual Deloitte Best Practices Competition is open to the more than 300 chapters of the international honour organisation Beta Alpha Psi (BAP).

The competition encourages students to develop leadership, collaboration and communication skills by applying academic knowledge and problem-solving expertise to real-world business scenarios.

This year, competing teams delivered eight-minute presentations demonstrating innovative accounting solutions to three key themes: Reimagining of Leadership, Reimagining of Community Impact and Reimagining Career Aspirations.

Monash’s Xi Epsilon chapter presentation on Accounting Beyond Numbers claimed first place for Reimagining Leadership and Collaboration and second place for Reimagining Community Impact.

The leadership program comprises three projects targeting accounting graduate skills gaps:

  • Accounting for All: a workshop demonstrating how AI technology can't replace human leadership.
  • Accounting for Kindness: a community impact project where students raise funds and provide accounting skills for charity Mums Supporting Families in Need.
  • Accounting for Self: a business simulator to help students develop professional competencies such as decision-making, problem-solving and collaboration.

“We teach theoretical skills really well, but there are certain things you just can’t teach in the classroom,” lecturer and Xi Epsilon faculty advisor Dr Daniela Juric said.

“Accounting Beyond Numbers aims to achieve the holistic development of accounting graduates, including ethical and moral competencies as well as traditional leadership qualities.”

Dr Juric said the win was the culmination of months of hard work.

“The team put in hours and hours of work - on the weekends, at night - to create a compelling, meaningful and authentic presentation,” Dr Juric said.

“To be part of that journey, and to see all that hard work pay off, was extremely satisfying.”

Beta Alpha Psi Xi Epsilon president Sarah Wang said the competition was a “rigorous but rewarding” opportunity to showcase creativity, teamwork and public speaking skills on an international stage.

“The Xi Epsilon chapter is truly honoured to represent our institution and showcase the exceptional calibre of our student body,” she said.

Ms Wang said the team was excited about the opportunity to compete in the finals at the BAP annual meeting in Las Vegas in August.

“One of the key benefits of being part of the chapter is the unparalleled opportunities for networking and building lasting relationships with like-minded peers and alumni,” she said.

“We could not be more excited to be recognised and awarded for our achievements and we’re thrilled to have progressed to the finals.”

Acting Head of Accounting, Associate Professor Aldonio Ferreira, said it was an outstanding accomplishment.

“I congratulate our BAP students, who have done us very proud, and Daniela for her leadership of our BAP Xi Epsilon chapter,” he said.