Eight Teams from UB School of Management Vie for $1,000 in PricewaterhouseCoopers Accounting Competition

BUFFALO, N.Y. -- Eight teams from the University at Buffalo School of Management will contend for $1,000 in the first round of the national xTREME Accounting Campus Competition (xACT) sponsored by PricewaterhouseCoopers (PwC) to be held at 1:30 p.m. Nov. 15 in the Jacobs Executive Development Center, 672 Delaware Ave.

The UB School of Management is one of only 32 schools nationwide chosen to participate in the accounting firm's competition, now in its second year.

In addition to the $1,000 prize, the winning team on each campus will be considered for the xACT National Finals. Five teams will be chosen as national finalists and awarded $10,000 per team and a trip to New York City, where each team will get a chance to join with experts from PwC's Risk and Quality Group to learn about how national and international accounting and auditing positions are developed.

Each team consists of five members, including two sophomores, one junior and two additional members of any level from sophomore through master's-degree level, and is coached by a faculty member from the school's accounting department.

According to competition guidelines, each team has two weeks to research an assigned accounting and assurance issue. This year, the teams have been asked to provide expert testimony to the accounting board of a fictitious country on the merits of fair-value accounting. On Nov. 15, the UB teams will have 12 minutes each to present their results. PwC staff members will judge the competition, evaluating teams on critical and creative thinking, presentation quality and teamwork.

"The fact that we are one of a select group of schools chosen to participate speaks well of our programs and our students," said Susan Hamlen, chair of the accounting department in the UB School of Management. "This competition is a wonderful opportunity for our students to network with PwC professionals and learn more about the accounting profession, and will improve their chances of landing an internship or full-time position in one of the top firms."

The University at Buffalo School of Management is ranked as one of the world's "top business schools" by The Wall Street Journal. It also has been cited by Forbes for "best return on investment." For more information about the UB School of Management, visit http://www.mgt.buffalo.edu.