Dubai: American University of Science and Technology (AUST) Lebanon has won the first prize at the Middle East Student Case Competition - an annual contest held in Dubai, UAE and organised by Institute of Management Accountants (IMA).
The contest was held on Saturday, April 28, 2018 but the results were announced today. The first place winner won a cash prize of US$3,000 while the second place winner received US$2,000.
"Four student teams from the Prince Sultan University (PSU) in Riyadh, KSA, the American University of Science and Technology (AUST) in Lebanon and the German Jordanian University competed in the final round", Institute of Management Accountants (IMA) said in a statement.
"The team from American University of Science and Technology received the first prize while the team from German Jordanian University won the second prize", IMA said.
The IMA organises Student Case Competition to provide an opportunity for students to interpret, analyze, evaluate, synthesize, and communicate a solution to a management accounting problem. After presenting their analysis, the students have to answer questions from the panel of judges to defend their management accounting case analysis.
"IMA prepares finance and accounting students for the future of the accounting profession that requires an aggressive reorientation toward management accounting and internal decision support. Accounting students need to know they are not just 'number crunchers", said Hanadi Khalife, Director, MEA and India operations at IMA.
"In this case, we wanted them to see beyond the financial impact of business decisions to incorporate and reflect on the organization's value proposition, image and competitive advantage," Khalife said.
Khalife was part of the panel of judges for this year's competition which also included Abdur Rahim Ghulam Nabi, CMA, CFM, APM, Senior Advisor, Finance, and Commercial Division at Dubai Airport Freezone and Hadi Mezawi, CMA, Group Finance Manager at KAF Group.
"I'm always impressed by the caliber of the students who join this competition. They understand forward-looking information that influences operations, resources, processes, market relationships and use that information to support strategic business decision-making," Rishi Malhotra, Academic and Community Relations Manager at IMA, said.
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