Adawia Ananda, a Statistics student at the Faculty of Mathematics and Natural Sciences, University of Indonesia (FMIPA UI), along with her teammates from various faculties at UI, Pascal Nicholas (Accounting 2021) and Ayesha Kalila Yushiputeri (Industrial Engineering 2021), won an award at the 24th Indonesia Accounting Fair, organized by the Faculty of Economics and Business, University of Indonesia. The three of them won third place in the event, which was a collaboration between PwC and Deloitte.
The Indonesia Accounting Fair was divided into a Business Case Competition and an Accounting Competition, with PwC and Deloitte as case collaborators. Adawia and her team participated in the BCC competition, which was quite competitive, with over 50 teams, each consisting of three members. In each competition category (Accounting and BCC), there were three winners and the best presenter.
The three of them joined a team called “Hana’s Lovers.” Uniquely, they got this name because they were mentored directly by a senior named Rohananda Devi (Management 2020), who has won numerous awards in various Business Case Competitions.
In the Indonesia Accounting Fair (IAF), the competition scheme consists of three stages. In the Preliminary stage, participants create a proposal based on a case. In the Semifinal stage (Top 15), participants are given a new case compiled by case collaborators. They create a pitch deck and present it to a panel of judges. Meanwhile, in the Final stage (Top 5), the case used is the same as the semifinal stage, but on the day of the final, participants receive additional information and are given two hours to adjust and enrich the strategies that have been previously created, then make an offline presentation in front of the panel of judges.
The case study presented a problem faced by an agribusiness company operating in the palm oil sector. Participants were asked to develop a strategy to help the company reduce carbon emissions and achieve net-zero emissions by 2030.
“In an effort to achieve these goals, my colleagues and I proposed a strategy consisting of three main components. First, we proposed the implementation of Nature-Based Solutions (NBS) to harness nature’s capacity to reduce greenhouse gas (GHG) emissions, adapt to the impacts of climate change, and achieve sustainable development goals. Second, we proposed Climate Risk Adaptation to reduce the vulnerability of human and natural systems to the impacts of climate change. Finally, we emphasized the importance of Responsible Sourcing to ensure that the products and services we use are produced and provided ethically, sustainably, and socially responsible,” said Adawia.
Participating in this competition was not without its challenges. The team acknowledged that they faced significant challenges, requiring both time and energy. In the short time between the announcement of their qualification to the final round and the final itself, the participants were required to prepare quickly, while also juggling their studies and academic obligations.
“In terms of material, the biggest challenge is creating a feasible solution. It might be easy for us to fantasize and create fantastical solutions. But to create a feasible solution, we need to consider many things, such as the financial aspects, the appropriate ROI, and much more,” Adawia replied.
Despite this, these challenges didn’t deter her from continuing to give her best, especially given Adawia’s strong motivation.
“I always gain new knowledge and valuable experience from the competitions I’ve participated in. Therefore, when Pascal invited Ayesha and me to join this competition, I immediately accepted the challenge without hesitation. The topics raised in this competition, namely Climate Action and the reduction of greenhouse gas (GHG) emissions, also align with my interests and enthusiasm,” Adawia continued.
At the end of the interview, the Hana’s Lovers team shared the many benefits they gained from this competition experience, such as developing critical thinking skills, expanding their knowledge beyond the academic curriculum, and building networks. They also agreed that this opportunity allowed them to learn from industry professionals.
“Taking part in a competition may seem scary at first, but I realized that the journey matters more than the end result. Late night calls to work on the pitch deck, meetings with the mentors to practice pitching, the nerves before going on stage in front of the judges, and finally hearing your name announced as the winner. I will say this again, taking part in the competition is addictive! So, don’t be afraid to take your first step and start your journey!”
The Indonesia Accounting Fair (IAF) is one of the largest and oldest annual international accounting events organized by students in Indonesia. The 24th Indonesia Accounting Fair in 2023 carried the theme “Approaching Net Zero: Counteracting Climate Change to Enforce an Imperishable Impact.” The event’s vision is to become a leading international accounting and business learning opportunity for students. It attracts not only students from universities across Southeast Asia but also professionals from prestigious companies. The IAF aims to help accounting students broaden their knowledge and insight into current accounting issues.
The competition timeline is preliminary submission on January 14, 2023, semifinals on February 28, 2023, and Final & Awarding on March 4, 2023. Semifinal announcements will be made via email and Instagram, while finalists will be announced offline during a company visit to PwC. The winners will be announced offline during the awarding night and on Instagram.
