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UP tops collegiate finance contest

Posted on: February 25, 2009

http://business.inquirer.net/money/breakingnews/view/20081016-166728/UP-tops-collegiate-finance-contest

By Anna Valmero
INQUIRER.net
First Posted 17:05:00 10/16/2008

Filed Under: Economy, Business & Finance,Banking

MANILA, Philippines – University of the Philippines Diliman topped the 10th Financial Executives Institute of the Philippines (FINEX) Inter Collegiate Finance Competition (ICFC), besting 24 university finalists from the country and abroad.

UP Diliman took the top spot from last year’s champ Ateneo de Manila University which ranked second this year, followed by De La Salle University-Manila with scores 820 and 800, respectively.

The UP Diliman team composed of Bryan Chrisnel Baes, Ma. Theresa Pamintuan, Joan Carol Isip, Rustan Paulo Baltazar and Genesis Santiago scored a total of 840 points during the ICFC finals held at the Bangko Sentral ng Pilipinas Auditorium.

All five are fifth-year graduating students taking up BS Business Administration & Accountancy.

Mark Anthony Yu of CFA Society of the Philippines, ICFC organizer, said this year’s competition is a close fight between the top three schools, especially during the finals when each school just got ahead of the other by answering a question worth 20 points.

“Competitions like this can help students look at financial statements from an analyst’s perspective than that of accountancy,” said Yu.

“Based on the problem sets, the students deconstruct or reverse engineer the financial statements instead of the accountancy approach of constructing them. It prepares them to understand project risks, dissect any business and identify problems overlooked before, thus removing the subjectivity when entering any business venture,” Yu said.

Daniel Vincent Borja, trainer of the UP Diliman team, agreed.

“Any finance concept is always tied up to a business decision so studying finance can help individuals make the appropriate business decision,” said Borja. “When they graduate, they know they have the necessary tools as well as the necessary skills and ethics that will help them.”

After graduating, all five students of the UP Diliman team plan to take up a career in finance consulting as well as taking up the CFA Level 1 exam.

About 84 schools participated in this year’s competition with four international schools seeded to the finals including the Assumption University of Thailand, National University of Singapore and Singapore Management University, which are all included in the top 10, as well as Chulalongkorn University of Thailand, which ranked 12th .

In the country, 80 schools competed during the eliminations held simultaneously last September 19.

The grand prize includes three academic scholarships at the Asian Institute of Management worth P2.7 million, a cash prize of P100,000, medals and trophy.

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