IBA Accounting Club sent a delegation of four members (Kawish Jamal, Ahmed Aslam, Zain Ahmed and Taha Umair) to represent IBA at the third edition of "Aspiring Professional Summit" organized by LUMS society of professional accountancy during 15th -16th February, 2020.
The event consisted of four rounds:
Sherlock accountant: The teams were provided with financial statements that had some discrepancies that had to be identified and rectified according to the accounting standards set by IAS and GAAP.
Wolf of wall street: Teams had to pitch their ideas for start-ups by incorporating a fun element in the presentation and showing initial investment, breakeven analysis and costing figures at the same time.
Business case: Teams were provided with the same case study and they had to go through the case thoroughly and answer the questions stated. Questions were related to accounting or financial issues of a firm and were based on financial statements such as income statement and balance sheet.
Scavenger hunt. IBA's delegation won the runners up position while bagging the winners award in the round "Sherlock accountant".