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Waikato Chapter of Beta Alpha Psi

End of year report 2013

Beta Alpha Psi is an honorary organisation for accounting, finance and information systems students and professionals. Its primary objective is to encourage and give recognition to scholastic and professional excellence in the business information field. This includes promoting the study and practice of accounting, finance and information systems; providing opportunities for self-development, service and association among members and practicing professionals, and encouraging a sense of ethical, social and public responsibility.

Originating in the U.S., Beta Alpha Psi has recently launched in New Zealand. Both Auckland University and Massey University (Albany campus) have successfully completed the petitioning process and their students are currently benefiting from the range of professional, service and social activities on offer. Additionally, Beta Alpha Psi gives a number of students the opportunity to be a part of an executive committee with the responsibility of planning and running the club alongside the Faculty Advisor. 

To continue to compete against these universities (and any other universities that follow) for high-performing students, it is imperative that Waikato University also establish a successful Beta Alpha Psi Chapter. Initially, this club will target accounting students; however, there is the potential to extend Beta Alpha Psi Waikato to the finance and information systems disciplines once established. In particular, this club will help Waikato accounting students to bridge the gap between theory and practice by building relationships with accounting peers and professionals, developing leadership skills, giving back to the community through service and encouraging ethical behaviour. Additionally, it will reward and encourage scholastic success and instil a commitment to lifelong professional development.

Each year, a range of professional, service and social activities will be carried out, as organised by the executive committee. To meet international Beta Alpha Psi requirements, Waikato University will engage in at least six professional activities and two service activities per year. These activities will be carried out with the support of local accounting firms as well as national and international accounting bodies, such as NZICA and CPA Australia.

This report summarises the activities that the Waikato Chapter have carried out over the past year, as well as a financial summary of all activities

Spending Summary

Income Statement

Note

$

$

Income

 

 

 

ACCA

 

 

 

Project Run With It

 

1,262.95

 

Waikato University

 

3,375.89

 

Total Revenue

 

 

4,638.84                   4,638.84

Expenses

 

 

 

Food & Beverages for Professional Events

1

193.01

 

Business Cards

2

36.09

 

America Trip (AGM)

3

2,383.75

 

Australian Trip (Regional Meeting)

4

1,369.32

 

Total Expenses

 

 

3,982.17

Cash Inflow (Outflow) for the year

 

 

656.67

NOTE 1

For some events, BAP Waikato supplied some snacks and drinks to the event participants.

NOTE 2

BAP purchased business cards so that students and professionals would have simple means to contact the Executive Committee with any queries.

NOTE 3

The trip to America was for the AGM in which Gaurav travelled to the United States for. This is the total costs of his flights, shuttle, visa and registration costs.

NOTE 4

This is the total cost of the regional meeting which was in Australia, that both Gaurav and Alison went to. This covered the flights and travel insurance.

Summary of events 2013

EVENTS

Initiation (A & B Semester)

An event for all Beta Alpha Psi members of the Waikato Chapter, to meet each other, and a chance for new and existing members to learn what the club is about, and the events that we are planning for the rest of the year. This will increase involvement and awareness about what we are doing. Some pizza and drinks will be provided also. Following the discussion, everyone will have the opportunity to ask questions and have a casual chat. This event will be organized to take place in the first couple of weeks of both A and B semester so that students can get the most out of it possible. 

Professional Event One- Work Life Balance

(A Semester) 

Ant Pederson

The first professional event held in 2013 for BAP members was a discussion with Anthony Pederson, both a practicing accountant and V8 supercar racer. This event was designed to show BAP members that while accountants are expected to work hard in their job, they are still able to do the things they love with accounting firms being accommodating to personal commitments and maintaining a healthy work life balance. 

 

Professional Event Two- Xero Accounting Package

(B Semester)

Dana Braunias- KPMG

Our first event of B semester was with Xero expert Dana Braunias from KPMG. She came along to give us a rundown on Xero and what it can offer accountants in their role as advisors. This was a great event for Bap members to get a look at the new accounting software and where the future of accounting technology lies with the benefits of cloud accounting.

 

Professional Event Three- Secondment Opportunities

(B Semester)

Mitch Mace- Deloitte & Rory Noorland- KPMG

The idea behind this event is to inform students of secondment opportunities available to accountants once they have enough experience under their belt. Both international and local secondments were covered with Mitch sharing his experiences of Ireland and Rory covering several of the firms he has worked with in the Waikato area including corporate giants such as Fonterra. This event was run to give students an idea of what experiences accountants are exposed to and where the accounting field can take you, with quite interesting stories from both of our guest speakers.

 

Professional Event Four- CV Workshop

(B Semester)

BAP & WMSSA Executive Committee, along with Waikato Careers Office

With the job market being so fierce for positions currently, BAP wanted to give Waikato students a competitive edge over others by holding a workshop to help students work on their Curriculum Vitae’s. For this event BAP partnered up with the Waikato Management School Students Association and the Waikato Careers Office to ensure that relevant and reliable advice was provided. Since this event was held with the Careers Office, students that attended also had the benefit of being able to count it as one of their Employment Skills workshops, which is compulsory for management degrees.

 

Professional Event Five- Ignition

(B Semester)

NZICA

The New Zealand Institute of Chartered Accountants held an event called Ignition towards the end of B semester which BAP and WMSSA helped with on the evening. Ignition was a career preparation event run in order to give both Waikato and Wintec students’ guidance on working in an accounting career and where accounting can take you. There were six guest speakers from a range of different companies all taking a different approach to accounting and retelling their experiences and advice about accounting.

 

Professional Event Six- PwC Office Tour

(B Semester)

PricewaterhouseCoopers

After the completion of their new building, PwC wanted to show off their new premises. This suited BAP perfectly, as it is a good opportunity to show BAP members what the inside of one of the biggest accounting firms in the world looks like. The tour was run really well and all the attendees immensely enjoyed the tour, it was great to see what the working environment was like and how things were actually run on the inside of an accounting firm. Events like this are the highlights for students because they are able to get an insight and experience that cannot be provided on campus or by attending presentations.

 

Service Events One & Two- Tutoring

(A & B Semester)

BAP Executive Committee The BAP committee came together with their combined accounting knowledge and experience to organize a tutoring event for all 100 and 200 level accounting papers (with a special mention to Brad Sherman, an involved BAP member, for also assisting in the running of these events). The tutoring was held in study week of both A and B semester to aid the students in these papers that had trouble with particular accounting questions so that they were better prepared for their exams.

 

Reaching Out Activities:

BAP Executive Committee

At the beginning of each semester, Abbey went around to all of the accounting classes taught in that semester to promote BAP and explain to students what it was, and how we can benefit students if they become members. It was a great way of gaining further provisional memberships and gave us the potential to find more possible full members for our chapter.

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