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By PBN Staff
PROVIDENCE - A team of five students from Providence College captured the top prize in the national finals of the xTREME Accounting competition. The event was held in New York City on Jan. 11, at the headquarters of accounting and auditing firm PricewaterhouseCoopers.
The national championship is a first in the competition for PC, which advanced to the finals two years ago. The winning team, the ‚ÄúConsolidators‚ÄĚ, was chosen to participate in the finals from among 45 schools nationally.
Facing a panel of judges who were all PwC national partners, the students presented a solution to a business problem, then defended it under rigorous questioning. They were awarded the top prize over teams from the University of California-Berkeley, University of Texas, University of Washington and Villanova University.
In the competition, students studied whether a fictitious company in the cosmetics industry should develop its own line of natural and organic cosmetics, or acquire a company that already manufactured such products.
‚ÄúTheir presentation was nothing less than superb. It was absolutely outstanding,‚ÄĚ said John R. Formica Jr., a partner in PwC‚Äôs national professional services group and coordinator of the xACT competition at PC.
PC‚Äôs team was led by Ann C. Montemarano ‚Äô12 (Malverne, N.Y.) and included David J. Glaser ‚Äô13 (Westborough, Mass.), Vincent A. Travelyn ‚Äô13 (North Scituate), Amanda P. Medeiros ‚Äô14 (Fall River), and Philip M. Pin ‚Äô14 (Wilbraham, Mass.). They were coached by Christine E. Earley, professor of accountancy.
The team was given the Montgomery Award, a silver bowl kept at PwC headquarters in New York with the names of all winning teams inscribed on its base. Students each were given a small silver replica of the bowl by Tiffany to take home.