Samson Cheng, an Accounting student in the MPA programme, has been named second runner-up in AccountingPod’s nationwide dairy farm simulation competition, ‘Compete for Cash Cow’, that saw him run a virtual dairy farm for 22 days.
Competing against 300 students spread across all eight New Zealand universities, Samson managed his virtual dairy farm using the Xero accounting platform and AccountingPod.com’s learning portal.
The competition required students to complete online challenges every three days involving a farms daily operations and its financial data. Finalists were then required to present their farms third quarter Financial Report and an ‘Adding Value to Milk Idea’ to an experienced judging panel.
Panel member Kirsten Patterson, New Zealand Country Head of Chartered Accountants Australia and New Zealand (CA ANZ), commented on the high quality of Samson’s preparation and presentation during the final judging round.
“We saw Samson engage the judging panel with his positive approach to the use of the competition software and the wonderful values displayed with his Donation Milk new product idea”.
Samson believes the competition had really opened his eyes to the wider dairy industry and also the world of online accounting tools.
“I have certainly learnt a lot about the dairy industry and New Zealand economy, using Xero accounting software, and interpreting financial information from a dairy farm.
“I really enjoyed being involved in this competition, and was excited to learn I had been placed third,” says Samson.
The competition was designed to expose students to the world of digital business tools and to learn more about the New Zealand business environment. AccountingPod co-founder, Judith Cambridge believes this was achieved.
“Our aim was to move the needle on students’ practical knowledge of digital business tools in a fun and engaging way. The dairy industry in New Zealand is a really interesting case study for any business student, not just agri-students, so we were very pleased with the level of student engagement.
“The dairy industry is rich in data from the milking shed, pasture and supply company, to its global market. Capable business students are needed in this industry, and needed in the digital economy interpreting that data and supporting business success,” says, Ms Cambridge.
Competition sponsors included; CA ANZ, Xero, ASB and Farmright. AccountingPod technology challenged, tracked and marked student activity across a range of business software tools during the competition, and this software will be launched across several New Zealand Universities over the coming months.
Last updated: 30-Aug-2016 11.51am
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