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Financial Term Report

FALL 2009


Term Report

Consolidated Income Statement Revenue Breakdown Expense Breakdown Notes to Consolidated Income Statement

Allocation of Contribution

Overview Endowment Allocation of Services Endowment Allocation of Events

AFSA Finance Committee Meet the Team

4 4 4 4

6 7 8 9

Table of Contents

Financial Statements

Financial Statements

Accounting and Finance Students’ Association Income Statement For the Term Ended December 22, 2009

Revenue Breakdown

Revenues Marketing Sale of Merchandise Subtotal


External Fall CA Night Corporate Sponsorship Subtotal

$1,375.00 $2,500.00

Internal - Events In-House Case Competition Subtotal Other Revenue Interest Revenue Subtotal




$355.00 $355.00

22% 2%

$6,000.00 $6,000.00 $17,780.00


Expense Breakdown

Marketing Merchandise Promotions Subtotal

$7,161.33 $12.97

Communications Essentials Subtotal


Marketing Communications External Internal - Events Internal - Services Admin & Knowledge Management Grants & Sponsorship



External Fall CA Night AFSA Gives Back Subtotal

$1,709.34 $165.62

Internal - Events AFSA Launch Party Reach for the Stars Culture Night BBT/Comedy Night/Talent Show Sports Day/Golf Day In-House Case Competition Wine and Cheese Event Bomber Night Subtotal

$1,123.62 $364.63 $533.57 $427.14 $300.76 $597.62 $300.00 $500.00


2% 2%


Internal – Services Adopt-a-Coop/Resume Critique Session Speaker Series Subtotal

$212.75 $93.25

Admin & Knowledge Management General Meeting Subtotal


Grants & Sponsorship Accounting Orientation Committee 1 ACE Financial Services Subtotal

$953.00 $600.00

Net Income

External Other Revenue


Total Revenues

Total Expenses

Marketing Internal - Events



10% 47%

27% 12%


$1,553.00 $15,312.02 $2,462.98

Notes: 1


With regards to the sponsorship of ACE Financial Services $200 of this was a start up cash injection, and the other $400 will be collected back in the coming terms (Winter 2010, Spring 2010)

Allocation of Contribution

Accounting and Finance Endowment Fund Contribution Allocation With the convergence of ASA and ASEC, the new Accounting and Finance Student Association has shown great strides in bringing together all years of the School of Accounting and Finance, as well as in allowing the first years and upper years to embrace their differences and assist in each others’ success. With the implementation of the new Executive and Board of Directors, not to mention the new SAF building, AFSA has been able to unite the students of SAF and help them become one in their goals toward success. This fall 2009 term, AFSA has seen the introduction of new services and events, and the renewal of past successes. Even with the reduction of the Accounting and Finance Endowment Fund contribution (from the previous $75.00 to a new $50.00), we have seen an even higher attendance in events and interactive services than ever before. With the new venture of AFSA, we have seen the description of “educational” broadened to a wider horizon. Although small, the new contribution has been used much more comprehensively and provides students more “bang for their buck”. Along with the smaller contribution, comes transparency in the financials of AFSA. We, as the students of SAF, can now feel comfortable knowing where our money is going, and how it is being used. The following is a summary of the services and events for the fall term of 2009.


Endowment Services Endowment Allocation Allocation for Services

Endowment Fund Allocation for Services (%) 70%

30% Adopt-a-Co-op / Resume Critique Sessions Speaker Series

Adopt-a-Co-op / Resume Critique Sessions The Adopt-a-Co-op program helps second-year students in their first co-op experience by finding an upper-year mentor to help them through the process. Three resume critique sessions were also offered to any student going through the job search process. (No professional development events were held for first years this term as the School of Accounting and Finance wanted 1st years to focus on academics) Target: 2nd years, 3rd years, and 4th years Total Expenses: $212.75 (refreshments) Speaker Series In the fall term, AFSA Speaker Series presented “Our Community, Our Waterloo, One Vision.� by Mayor Brenda Halloran Target: All years Total Expenses: $93.25 (refreshments and gift for speaker) High School Ambassador Programs The High School Ambassador Program gives students the opportunity to refine their public communication skills and demonstrate pride in their program while providing high school students with information on the accounting and finance programs at the University of Waterloo. Target: All years (focus on 1st years) Total Expenses: *None Endowment Fund Allocation For Services by Year ($)

Year Total Expenses










Endowment for Events Events Endowment Allocation Allocation for

As the new SAF student association came into effect as of Fall 2009, AFSA had many internal events to keep the students of SAF united and entertained throughout the term. Events included: Culture night, BBT/Talent show, sports day, In-house case competition for first years, the awesome AFSA launch party, Reach for the Stars, Wine and cheese event for the upper years, and finally, Bomber social night for upper year students.

Endowment Fund Allocated to Events (%) 12%


13% 10%





Culture Night BBT/Comedy Night/Talent Show Sports Day/Golf Day

Starting with the Launch party, and moving through and into our final event, the Bubble Tea/Talent show social night, SAF students can see that their contribution is being put to phenomenal use by the VP Internal Events. The events have been a wonderful success, leading to a total of actual expenses of $4,022.34, when projected spending was budgeted at $4,483.90; illustrating AFSA’s success in providing SAF students with interactive, network building events with a new, lowered contribution of $50. Endowment Fund Allocation For Events by Year ($) Year 1st 2nd 3rd 4th Total $1285.05 $954.10 $954.10 $954.10 Expenses

In-house Case Comp. Wine and Cheese Event AFSA Launch Party Reach for the Stars Bomber Night


Meet the Team

(Top Row - Left to Right): Jing Xu, Vithushan Jeyakumaran, Teresa Choo, Cindy Zhang, Quinntin Fong, Sharon Ren, Diana Hanna, Joanna Tam, Meng Wang, Meryl Almeida, Matthew Lui, Roanna Shen, Sanket Shah, Jason Gong (Bottom Row): Shubham Datta (Absent from Photo): Vincent Vu


Accounts Receivable

Financial Statements

Contribution Analysts

Manager Meryl Almeida

Manager Meng Wang

Manager Diana Hanna

Associates Matthew Lui & Sanket Shah

Associates Vithushan Jeyakumaran & Jing Xu

Associates Quinntin Fong & Jason Gong

Accounts Payable

Term Report

Manager Teresa Choo

Manager Joanna Tam

Associates Sharon Ren & Cindy Zhang

Associates Roanna Shen & Vincent Vu

VP Finance Shubham Datta

AFSA Financial Term Report - Fall 2009  
AFSA Financial Term Report - Fall 2009  

AFSA Financial Term Report - Fall 2009