Sprott students bring home the gold

In January, two students from Carleton University’s Sprott School of Business bested students from across the country to win first place in the accounting competition at the Inter-Collegiate Business Competition (ICBC), held in Kingston. The winners are fourth-year bachelor of commerce students Sherrie Richer and Grant Murphy. Their victory marks the eighth time in 22 years that Carleton students have won the gold medal in accounting, making the University the all-time leader in accounting wins.

Each team was given a case to analyze. According to Darrell Herauf, an instructor with the Sprott School and a first-time faculty for ICBC, Richer and Murphy’s presentation provided more extensive financial analysis than those of other teams, as well as some creative solutions to problems.

This year’s case focused on a hospital foundation that had recently seen the resignation of its Board of Directors and President.

In addition, there was a blurring of the lines of responsibility between the hospital and the foundation, and a question of whether the hospital should build a parking garage to accommodate extra visitors.

“The judges were looking for in-depth financial analysis about the construction project,” explains Herauf. “Our team recommended against it and provided an alternative, suggesting the hospital work out a deal with a parking lot next door to provide parking at heavily reduced rates in exchange for a tax deductible donation. They showed real creativity in providing an alternative solution.” “It was very competitive, but the experience was one of the best I have ever had,” says Richer.

“Everything was well organized and I really enjoyed competing against some of the best business students from across Canada,” adds Murphy.

Herauf describes ICBC as a once-in-a-lifetime opportunity for students to meet and impress many of Canada’s top business leaders, because they sponsor and attend the event.

He says that being able to showcase Carleton students to many of Canada’s top business leaders is very important, and winning the gold medal makes it even better.

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