Faculty of Economics and Business Universitas Gadjah Mada (FEB UGM) achieved remarkable success in the National Accounting Competition (NAC) – National Accounting Fair (NAF) 2024. Held by the Accounting Student Association of the Faculty of Economics and Business, Universitas Bangka Belitung (HIMAKSI FEB UBB) on September 9-10, 2024, the FEB UGM teams brought home the first and third place awards.
Team HAH, consisting of accounting students from the class of 2022 – Adyatma Nur Shabri, M. Hilmy Naufal, and Hanggi Ridha Bagas Nirbita – secured first place. Meanwhile, the team The Kaliurangs, consisting of Alif Hasan Ramadhan (Accounting 2022), Alpha Daniel Pangihutan Simanjuntak (Accounting 2022), and Cynthia Fransisca (Accounting 2022), placed third.
The National Accounting Competition 2024 is part of the National Accounting Fair (NAF HIMAKSI FEB UBB), which includes accounting competitions open to all accounting students across Indonesia. About 42 teams participated in this competition, with the theme “Improve Accounting Skills Through NAC to Become a Qualified Young Professional Accountant”.
Adyatma shared that the FEB team won after going through four stages: preliminary, semifinal, final, and grand final. In the semifinals, each team was challenged to complete a real-time trading cycle via Zoom. In the following session, team members competed against each other for points. In the finals, each team was given an accounting case to solve in six hours, followed by a presentation to the judges. Teams also had to answer 30 multiple-choice questions on Kahoot.
In the Grand Final, teams had to answer true-false questions in a bidding point system. Five categories of questions were aligned with five PSAKs, and each type contained multiplier questions. This presented a unique challenge, as teams had to develop a strategy to assign points for each PSAK question accurately.
Adyatma admitted that their journey in the competition was more challenging than expected. They faced difficulties in the final round when dealing with a complex case involving financial instruments, specifically convertible bonds. “After a thorough analysis and extensive literature review, we realized the information provided was incomplete and contained misleading elements. Nevertheless, our team completed the case with limited information in less than six hours,” he explained.
Their hard work ultimately paid off, resulting in positive feedback from the judges and first place for Team HAH. Adyatma expressed immense gratitude and joy for their achievement, marking their first experience in an accounting competition with a victory that brought honor to UGM.
“For us, this is not only about winning but also about how we learn, grow, and strengthen our skills as accounting students. This achievement is a great start for us to compete in similar competitions in the future. We hope to continue this success and strive to win in upcoming competitions as well,” he said.
The Kaliurangs team shared similar sentiments and felt challenged by the case they were given. “Our case involved a special order where the company still had production capacity, but the special order was priced at market value. With the same contribution margin and accounting profit, the company faced the dilemma of accepting the order as there was no profit or loss to be made,” said Alif.
The victories of these two FEB UGM teams are expected to inspire other students to be bold and strive for excellence. With hard work and perseverance, anything is possible. Congratulations to Team HAH and The Kaliurangs for their NAC FEB UBB 2024 achievements!
Reportage: Najwah Ariella Puteri & Orie Priscylla Mapeda Lumalan
Sustainable Development Goals
