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Real-life business experience

Dec. 1, 2000

Edward Jones Challenge adds to classroom learning

By LEE ANN ANDERSON

Reporter

While the education gained in the classroom is not always considered adequate, the Edward Jones Challenge offers real life issues and case studies to help students understand how to be successful in the business world.

Two challenges make up the Edward Jones Challenge: the Accounting Challenge, which involves students taking Accounting 2304, and the New Venture Challenge, made up of students taking Business 1301.

The Accounting Challenge is 'part of the whole program, but the two challenges are not related,' said Dr. Elizabeth Davis, an associate professor of accounting and business law. 'The goal is to help students understand how instrumental accounting and financial information is to the operation of a business.'

During the competition, the students had to give a 15-minute presentation on the California Car Company, a fictional case.

As if executives in the company, 'we had to try to sell stock to the judges who were [like] venture capitalists,' said Marshall Nau, a business major from Boerne.

Judges included accounting professionals from businesses in Waco, accounting professors and graduate accounting students.

The New Venture Challenge took place Thursday.

'The one [on Thursday] is for general business students; it is not tied to any major or degree,' Davis said. '[It] lets students explore all aspects of how to run a business.'

Nau said there was 'more substance to [the accounting challenge] than just advertising. We had to show that [the company] was solid and had a future financially.'

Winners for both Venture Challenges will be announced today at noon. Each student in the first-place teams will be awarded a $1,000 scholarship. Each member of the second-place teams will receive a $500 scholarship, and the individual members of the third-place teams will each receive a $250 scholarship.