UIUC Update

Well, it is about time I finally get around to making a post on the blog, seeing how I am only about a month away from Finals Week! So, let me update everyone on what I have been up to this fall semester.

First off, I am taking many business courses, 5 to be exact: accounting, finance, economic statistics, business law, and marketing. Ok, so maybe economic statistics isn't really a business course, but I like saying that I am taking 5 business courses. Surprisingly enough, even though all my classes are business focused, all of the professors have very different styles and personalities. For example, my marketing professor enjoys engaging the class in a discussion of real life examples of marketing strategies, while my business law professor is more of a "take notes now, ask questions later" kind of guy. Then again, I pretty much only get to see my finance professor if I am watching him on my computer; all of his lectures are pre recorded and so I get to watch them at my convenience, which has its ups and downs! Overall, my classes are very enjoyable, and although the professors do have different styles, the material in my classes does flow nicely, and I am beginning to see how marketing, accounting, finance, and law departments all work together within a company. Well, I think that is enough about academia for now.

Now onto the more interesting parts of this semester. Currently, I am working on my second Illinois Business Consulting project. With this project, my fellow consultants and I are trying to help a UIUC professor start his own company. Our main responsibility is developing an investor presentation that outlines the company and its new product. Our finished presentation will be circulated to potential investors of this start up company. This project is very different from last semester's project in which I worked with a gas manufacturing company, and I am glad that I am getting a diversified experience while I am participating in Illinois Business Consulting.

And now onto some very exciting news! Before we get ahead of ourselves, let's start at the beginning of the story. In addition to all of my usual schoolwork and extra curricular activities, I decided to participate in a PwC accounting case competition. About two weeks ago, I recruited my roommate, Eric, and another one of my good friends, Steve, to join my team. Eric and Steve found two fellow classmates to complete our team, and the 5 of us were ready to crack the case.

A little background about case competitions and this case may be helpful. First, a case competition involves giving a 12 minute presentation to a panel of judges who will listen to your memorized presentation and the ask a few questions after your presentation is over. The presentation usually consists of solving real business problems or dilemmas within the business community. Generally, there is no right or wrong answer, and creativity is a must! For this PwC case competition, our task (and 13 other UIUC group's task) was to develop a plan for implementing a change to the the traditional GAAP accounting standards. Specifically, should the new standards be adopted all at once, or should they be adopted during a staggered transition period. I know this is all very technical and boring, but this decision will have a big impact on investors, accountants, and companies.

Ok, so back to the story. We got the case two weeks ago, and we got right to work. During the first week of the competition, our team analyzed the case and developed a recommendation. Then, during the second and final week of the competition, we practiced our delivery and presentation skills. This past Wednesday, after much work and practice, we presented to the judges (partners of PwC). That same night, we were announced the WINNERS of the PwC xACT case competition!!! Needless to say, it was a very exciting night filled with much joy and enthusiasm for our entire team! Since we won the UIUC campus competition, our video taped presentation will now be sent to the national judges who will review our tape, and make a decision as to whether or not we go to nationals, which will be held in New York City during January 2011. Out of 45 schools, only 5 schools make it to nationals, and hopefully we can be one of them!

Well, sorry for the Great American Novel, but that is what I have been up to down here in Champaign. I can't wait to see everyone for Thanksgiving and I should be back in town this coming Friday. I also want to say that I am very excited for Jessie, Darren, and baby Jaylen! I can't wait to meet him!

Love,

Daniel