March 2015

FOR AND BY BUSINESS STUDENTS

March 2015

THIS MONTH:

CREATING

VALUE MAKING

& WITH AN IMPACT

JULIAN KRIVIAK INSIDE:

ACCTG + FIN ARE THEY RIGHT FOR YOU? INTERVIEW WITH THE FOUNDER OF SEQUEIRA PARTNERS

NETWORKING TIPS FROM AN ALUMNA

CONTRIBUTORS EDITOR-IN-CHIEF Rachel Lee

CREATIVE

March 2015

CONTENT EDITORS Kawthara Shire Tammy Leung WRITERS Bonnie Truong Felicia Liang Garry Deng Ilhaam Jiwaji Kara Hauca Kyra Cusveller Nicole Hammond Rebecca Okrainec Robyn Paches Thomas Yonan Travis Garner Tsega MacDonald

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Editor’s Note

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What’s Up

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FASHION AND PERSONALITY make your personality pop

FASHION TRENDS

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ART DIRECTOR Carol Wong DESIGNERS Ashley Truong Bonnie Truong Christina Stefaniuk Deanna Bains Erin Struble Nichole Chen Shirley Du

COMMUNITY CENTRE

DEBATING ALBERTA’S SALES TAX Will it help or hinder our province?

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WANT A JOB? DON’T BE A DESKTOP QUARTERBACK! A guest article by School of Business alum Deepa Maisuria

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JULIAN KRIVIAK

NETWORKING SMARTS

COMMUNICATIONS DIRECTOR Kevin Espenido EVENTS Zhayate Meng COORDINATORS Steven Co

10 THOUGHT VS. THOUGHT

Cassian Soltykevych PHOTOGRAPHERS Felicia Liang Michael Zhang

STRATEGIC

with the JDC all-star

STUDENT SPOTLIGHT

MARKETING COORDINATOR Amy Yang

AROON SEQUEIRA 14

EXTERNAL DIRECTOR Leslie Chiang SPONSHORSHIP COORDINATOR Kelsea Zalaski

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OPENING THE DOOR TO REAL ESTATE WITH UARC More than just buying and selling houses

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GETTING TO KNOW MARK WANG Growing an interest into a career with the BFA’s President

CLUBS CORNER

SPECIAL THANKS TO Diana Wyley

CONTACT US E-MAIL uofalazyfaire @gmail.com

LAZY CHAT

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WEBSITE www.lazyfaire.com

19 cover designed by CAROL WONG cover photographed by CASSIAN SOLTYKEVYCH

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4

for entrepreneurship

EXTERNAL RELATIONS

PRODUCTION SPONSORED BY Priority Printing PwC Xerox Canada

U OF A SKI & SNOWBOARD CLUB AND THE PIGGY BANKERS From lifts to loans: groups to help you de-stress and plan for you future

DESIGNATION ROUTES! Exploring possibilities after graduation

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UNIVERSITY OF ALBERTA ACCOUNTING CLUB TAX CLINIC Tax pain? No problem!

SHOULD YOU MAJOR IN ACCOUNTING OR FINANCE? A fun insight into your passion

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THE 5 PEOPLE YOU WILL MEET IN FINANCE 301 Getting acquainted while experiencing the inevitable

A YEAR IN THE ALBERTA SCHOOL OF BUSINESS The most relatable General Journal you will ever read

EDITOR’S NOTE

designed by CAROL WONG

W

or accounting, they picture lifeless faces with passionless eyes hidden behind thick glasses. They imagine socially awkward people with no

year as a business student, I believed this naĂŻve stereotype as well. When I was walking around like a deer in headlights, I laughed at the slight possibility that I would ever become an accounting major. Three years later, I am graduating as an accounting major, planning to enter the CPA program this winter. Who would have ever guessed?

As current business students we all know that the stereotypes around different majors are far from the truth.

Regardless of which major they are in, most of the business students are incredibly vibrant and deeply involved in various extracurricular activities. Many accounting and

stock exchanges may seem important, getting involved in various clubs and giving back to the community are just as important in creating a valuable learning experience. Even in Lazy Faire, many of the talented writers and designers talent as well.

stereotypical they can be!

RACHEL LEE Editor-in-Chief

WHAT’S UP

Student Poll: Investments Have You Tried Investing In The Past?

Do You Invest?

Yes, and it worked out great

Yes

No, I have no interest in it Yeah, but I lost a lot

No, but I’m thinking about it

No, I’ve never had the capital

Percent of CPAs Working in Industries

Percent of CFAs Working in Industries

Accounting, Tax Preparation, Bookkeeping & Payroll Services

Other

Other Asset/Fund Management

Oil & Gas Financial Services Consulting

Wholesale Trade

Insurance

Retail Trade

Investment Banking

Finance & Insurance Manufacturing

Public Administration

CPA vs. CFA Compensation Comparison

written by TRAVIS GARNER designed by ERIN STRUBLE

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Pension Management

Brokerage Retail Banking

MEET THE TEAM Nicole Hammond What’s your major, minor and position with Lazy Faire?

I’m an International Business major. I’m currently debating between making accounting or marketing my minor. I’m also a writer for Lazy Faire.

What has been the best part of being involved with Lazy Faire this year?

The best part about writing for Lazy Faire was getting to meet and interview really cool alumni and business leaders.

What is the number one thing you have taken away from Lazy Faire?

The power of teamwork and collaboration. It blows my mind knowing how many people work to produce Lazy Faire. It would not be possible without them.

Robyn Paches What’s your major, minor and position with Lazy Faire?

I’m part of a growing minority of OM majors. I’m in my third year of school and love finding opportunities to get involved and connect people. This year, I’m a member of the BSA, U of A Ski Club, Alberta Energy Challenge and Lazy Faire. Outside of school, you can find me on the ski hill, cycling, on a patio with my buddies, or exploring the great outdoors.

What has been the best part of being involved with Lazy Faire this year?

As a writer for Lazy Faire, I explored and kick-started myself as a hobby writer. One day, I would like to become a columnist on the side, and I thought the magazine would be an excellent way to get started.

What is something about yourself that would suprise most people?

If I didn’t get into the University of Alberta, I had intentions of going into firefighting. I was a volunteer fire fighter from age 16, until I moved to Edmonton for school.

Kara Hauca What’s your major, minor and position with LazyFaire?

I’m a first year business student with an Accounting major and a Human Resources minor.

My position with Lazy Faire is as a writer.

What has been the best part of being involved with Lazy Faire this year?

I found out a lot about the Faculty of Business and all the opportunities that are offered here. I’ve learned a lot from the clubs we’ve profiled and the people we’ve interviewed. I can’t wait to see what else is out there!

Keeping with this month’s theme of Finance & Accounting, do you invest in anything?

I own 4 shares in Disney, so I get approximately two dollars a year from that.

written by TRAVIS GARNER designed by CHRISTINA STEFANIUK

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FASHION TRENDS

C

n o i h Fasand

y t i l a n Perso Accessories

For ladies, you can pair a busin ess dress with statement neck a colorful scar lace or trendy f, a heels. Just rem want your acce ember that yo ssories to over u don’t power the prof Likewise, your es sio heels should ne nal tone of your ver be so high attire. that they mak e walking minutes in your heels, leave th em at home!

For men, sock s and ties are effortless ways to add charac ter to any dull specialize in ca rrying fun sock s for men! Ties to incorporate are also anothe your personality r great way . You can play and sizes! Com with all sorts of panies like the textures Tie Bar and J.C trendy ties. rew offer a wide variety of

Key Takeaway If you don’t feel comfortable in what you’re wearing, don’t wear it. Your fashion choices should always highlight the best of your personality!

written by TSEGA MACDONALD designed by DEANNA BAINS & CAROL WONG

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Colour lity, fearful of colour. In rea siness students are y to highlight wa ble na For some reason, bu hio fas d ll, can be a classy an en colour, when worn we personal brand. Wh re importantly, your mo d an lity your persona rly, it n’t wear colour regula r skin tone. If you do that look best with you . to adding larger pieces dually work your way with colours and gra els, a scarf, necklace, he easily be added with For ladies, colour can . handbag, or cardigan , or tie clip. ting shirt, socks, tie be added with a sui can r ou col n, me For

University of AlbertA

Ski and Snowboard Club March is an especially awkward month in the winter semester. While most midterms have March is stressful. The feeling of “should I be studying for something?” never quite goes away. Add the ever present Canadian winter, and you’ve got yourself a recipe for stress.

Good thing the University of Alberta Ski & Snowboard Club is around to turn snow from stressful to exciting. The Spring Shaker trip, which took place from March 20th to March 22nd, took students to Kimberly for two days of riding and two nights of fun. In late April, the Ski Club participates in Kokanee Free Ride, a day long mountain party at Marmot Basin. Mid-Mountain is the place to be on this trip. The day is full of bands, DJs and great times. Throw in a dash of

COMMUNITY CENTRE

Kokanee Free Ride is the best way to end your semester and ski season. The Ski Club runs

spread across 6 buses. Finally, in addition to Spring Shaker and Free Ride, the Reading Week trip completes their roster of trips. With destinations such as Kicking Horse, Big White, Silverstar, Red Mountain, and White Water, the club always keeps their trips fresh. With the Ski Club, you’re not just signing up for a trip, you’re signing up for an experience. Laid back and friendly people, cheap trips, and otherwise hard-to-get-to destinations make a Ski Club trip a must-do for any student.

U of A Ski Club @UASkiboardClub

Contact UASSC through messaging their Facebook page and visit their website at www.uofaskiclub.ca

@UofASkiClub

written by ROBYN PACHES designed by BONNIE TRUONG & CAROL WONG

tHe PiGGy bankErS of A Ski & Snowboard Club trip, it’s

March seminar, “Essentials and Tips for First Time Home Buyers,” aimed to prepare students for purchasing

eating lunch in HUB everyday starting to take its toll? Fear not, we’ve got another club that can help you out.

advice on the topics of real estate

mission is to help students and faculty members achieve personal

students from any faculty. Their primary tool is education, hosting monthly seminars on topics relevant

The Piggy Bankers @ThePiggyBankers

a topic commonly seen as boring and makes it accessible. So far, they have covered topics such as tax tips for students, and avoiding personal and small business bankruptcy. Their

and trends within the market. The prospect of buying a home may be a farfetched idea for many students right now, but preparing yourself in advance will help you make smart decisions when the time comes. Be Bankers website and Facebook page for their future events, including their annual conference in the fall semester. Considering the theme of

uofapiggybankers.com

by KARA & THOMAS YONAN Contact The Piggy Bankerswritten by sending a HAUCA message to their email at designed by SHIRLEY DU & CAROL WONG uofapiggybankers@gmail.com

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DEBATING

THOUGHT VS. THOUGHT

D

FOR:

AlbertA’s

ESPITE THE OBVIOUS implications of falling oil prices for an oil dependent nation like Canada, it seems that policy makers both federally and provincially are reluctant to acknowledge that this could lead to a serious economic downturn. Increasing taxes has always been a part of the government’s repertoire of quick fixes for bolstering a weak economy. Implementing a modest sales tax of, let’s say 5% like our eastern neighbours, could also be an efficient way of stabilizing Alberta’s government revenue for the future.

SaleS

Tax

Implementing a tax as a means of recovering from an economic downturn might be seen as adding insult to injury, but it can also be looked at as investing in the future of our economy. In January of 2015, Finance Minister Joe Oliver declared that he was confident that Canada would remain strong thanks to a projected budget surplus of $1.6 billion. Let it be said that implementing taxes and reducing government spending are among the primary ways Canada strengthens its budget.

Maintaining a surplus gives the country its strength to weather economic stress.

Increasing revenue federally and provincially means that there is less pressure on the government to make cuts to provincial programs and investment projects. This, in turn, means a more stable and pleasant life for your average citizen.

Perhaps Alberta hasn’t implemented a tax simply as a gratuitous show of its energy wealth. However, economists agree that implementing more taxes would help stabilize the Albertan economy in the face of volatile oil market prices.

written by FELICIA LIANG & THOMAS YONAN designed by SHIRLEY DU

I

AGAINST:

N THE MIDST of an economic downturn due to plummeting oil prices, it may seem that a potential alleviation would be to implement a sales tax. However, being the province that boasts the lowest tax rate in Canada, this is likely to be met with deep-seated opposition. In fact, a recent poll showed that nearly three quarters of the Albertans surveyed disapproved implementing a provincial sales tax in order to fill the budget gap left by the drop in oil prices. Given that there is a long-term demand for energy, it is not far-fetched to expect prices to rise again. There is no need for a permanent measure that would eliminate the vaunted “Alberta Advantage.”

Sales tax is regressive, meaning that it would place a heavier burden on low- to mid-income individuals who would have to pay a larger percentage of their income in sales tax than the wealthy. In addition, with recent layoff numbers soaring into the thousands, the implementation of a sales tax in addition to a loss of income would likely deter consumer spending, rendering the increase counterproductive. Better control of government spending may be a better alternative.

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WANT A JOB? DON'T BE A DESKTOP QUARTERBACK!

NETWORKING SMARTS

I

hate saying this, but…in my day…when I was applying for articling positions (Fall 2006), I didn't have a problem getting a job. Actually, barely anyone had a problem because there were three jobs for every student graduating. However, the impact of the recession in 2008 changed everything and competition skyrocketed when U of A grads weren't the only contenders vying for positions at companies.

Now finding a job is work! It's all about the hustle, so keep these in mind…

BUSINESS CAREER SERvICES I've seen a lot of CVs from experienced professionals and you would be surprised how many people suck at writing them. You have to “Sell”, not “Tell”. Get Business Career Services to critique your CV because this is a skill you'll need to know for the rest of your life!

guest article written by DEEPA MAISURIA, CA, CBV designed by CAROL WONG

RECRUITINg EvENTS It's insane how many students have a ‘wandering eye’ during conversations because they're on the lookout for a partner. Here's the deal – partners are busy. They go to recruiting events and meet hundreds of students.

Chances are…they won't remember you, and if they do, they probably forgot your name.

Not all partners are like this, but firms have a bunch of people (articling students and up) attending these events for a reason. After a recruiting event, HR will ask attendees to send their feedback on the attending students.

HR listens to everyone! Because, at the end of the day, you're going to be working directly with articling students and managers way more than partners…so their feedback is important!! Don't put all your eggs in the “Partner Basket.”

hOW TO mAKE AN ImPRESSION In business school, most students will have relatively similar backgrounds and stories. You need to stand out, so stop asking the same old regurgitated questions like ‘What do you like about your job? How do you feel about the CPA merger?’ Or some other boring question that every other student is asking. It's annoying to have to answer it over and over again.

The only students I remembered were the ones who were fun to chat with. Pretend you're at a house party where you don't know anyone and you're trying to make friends. It's okay to ask about their latest Netflix binge, or about movies, travel plans, pets, sports, etc. Your goal = make a connection!

mAKE ThE ImPRESSION lAST ALWAYS get a business card from people you meet and send a Thank You email the night of, or the next day.

Include specific details about your conversation too. It doesn't have to be an essay, but even a few sentences is another opportunity to remind people who you are.

SOCIAl mEDIA If you think employers aren't going to creep on your LinkedIn/Facebook/Instagram/Twitter, think again! Social media is a great way to promote your interests and personality. If you can't show your Mom a picture or tweet without being embarrassed, you probably shouldn't post it.

DON'T BE A DESKTOP QUATERBACK! Why wait for the recruiting season to meet people? If you want to work for a company, reach out to someone there! Send an email and say you'll buy them coffee just so you can ‘pick their brain’. Ask them whatever you're interested in knowing about the company. If you're feeling bold, ask the professional if there is another colleague that you can be introduced to. Don't push it though—play it cool. If the introduction is made, meet that person for coffee too! Businesses are all competing for rockstars, so if they find someone before their competition does, you may get a job even before recruiting season begins!

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J STUDENT SPOTLIGHT

12

J

F

or this month’s issue of Lazy Faire, we have selected JULIAN KRIVIAK for our Student Spotlight.

Julian is in his third year at the School of Business majoring in Finance, with a minor in Economics.

He has been on the JDC West team for three years, placing in the top three teams this past year as a member of the Finance team. He has been in the PRIME program for two years and passed his CFA in December.

What has been your favourite activity to be involved with in the School of Business?

How has being a part of the PRIME program changed your future plans?

What was your favourite case to participate in and why?

My favourite activity would probably be JDC West. I’ve met a good chunk of friends through that and I’ve learned a ton there. As far as most valuable I’d have to say the PRIME program. It has given me real world experience, along with the connections and skills to help take me to the next step of my career.

There’s a lot to that answer; the biggest benefit is being able to learn how to apply finance outside of the classroom. The Finance program at the U of A is awesome but I think it only gives you a foundation you need to know before you can build actual applicable skills. The PRIME program has helped me to not only build those skills in finance, but also interviewing skills, work ethic, and a network of both my peers and recent grads in positions I aspire towards.

I want to say it was going to Singapore for the Asian Business Case Competition this past year. That trip was a great experience.

Honestly though, I think I have to go back to JDC West and JDC West Finance in particular.

There’s such a lead up to the competition; our team probably did 10 cases in preparation.

Case-based learning is incredibly important in teaching the real world of finance. My teammates Paul Ellis and Victoria Rudolf were amazing as well! After going through such a stressful year, ultimately being really successful at JDC West was the perfect way to wrap up the case competition.

What has been the proudest moment of your life so far?

I think recently it has to be landing a job at Goldman Sachs. A few years ago, I never would have even dreamed that would have been possible and it has shown how everything I’ve done over the past three years has paid off.

How has your involvement taught you about planning for the future?

I have always tried to figure out what was most important to me and where I would receive the most value. My involvement has taught me where to put my time outside of school. Once I enter the working world, I’ll still want to do other things. Knowing my priorities will help me decide where to put my time. Getting involved has taught me how to go about achieving the goals I have in the next stage of my life.

You are a past participant in the 5 Days for the Homeless Campaign, how has this impacted your worldview?

It is definitely an initiative that has helped me realize how lucky I am, and also how I will plan to give back as I move forward. Having been able to go to YESS and see where those donations are going makes a huge difference.

Taking part in something like that for even five days expands your perspective. You know you will be going home after those 5 days and you have community support, which isn’t exactly the same, but it puts you in a position to think critically about an issue most people tend to overlook.

What is leadership to you?

I remember being asked this in my Cohort Captain interview. Unfortunately, I did not get the position. Hopefully my answer is a little bit better than what it was back then. Leadership is knowing what needs to be done and knowing the best way to do it. That is, using your own skills and the skills of the people around you to get that done. For example, I would never be good at planning an event but I know people who are. Leadership is about knowing the strengths that you have on your team and planning how to use those strengths.

You’ve been involved in JDC West for three years, how have the experiences differed throughout your degree?

It has evolved quite a bit. In my first year, I came in as a Sochi on the Social team, which was a ton of fun. It showed me one of the best sides of JDC West: coming together and meeting new people. It’s what kept me with the team for the next two years. My second year, I was on the International Business team, and this year, I acted as both VP Finance and a member of the Finance case team. It was stressful but I was able to see a lot of the behind-thescenes stuff that helped me appreciate all the work that goes into making the experience as amazing as it is. We had a really good year, and getting to cross the stage for my first time after three years was something special.

What will you miss most after graduation?

I’ve met an awesome group of people through the ASoB and it has been one of my favourite things about going into business. It pulls together a lot of talented people who are pretty easy to get a long with. I think not seeing those people everyday is going to suck a little bit, but I’ve made friends who will stick around no matter what.

What do you want your legacy at the ASoB to be?

That’s the toughest question yet. I just want to make sure everyone who I have had the opportunity to help or work with sees me as somebody who has added value to their lives.

I want to be remembered as someone who was there and it wouldn’t have been the same otherwise.

Describe yourself with one word.

Unique.

written by ILHAAM JIWAJI designed by CAROL WONG photographed by CASSIAN SOLTYKEVYCH

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Leader.

Corporate finanCe entrepreneur. powerhouse.

From there, he worked in consulting and as a CFO for a company before following his passion for public practice and founding and accounting students. pleaSe Tell uS abouT Sequeira parTnerS. 90% of what we do is helping our clients with the sales of their companies. those companies range anywhere from $10 million to $400 million in value. the majority of our clients are private business owners, but we also do work for larger companies. Additionally, we work with small to midsize public companies in transaction work. Our focus in Alberta is focuses more on general industrial practice.

We coordinate our valuation skills, brokerage skills, and quarterbacking skills with tax and owners. We are a boutique version of larger investment banks. We help billion dollar companies with transactions. It’s never a dull moment. a loT of people characTerize accounTing aS a Safe and Secure paTh. how did you venTure inTo a differenT paTh wiTh enTrepreneurShip?

From day one of business school, I knew I wanted to start my own business. Initially, I had an interest in cars so I thought I would end up buying a car dealership. even when I chose the CA designation, I kept that desire. so I leveraged my professional practice experience with my dream to own a business and eventually started this company. a loT of accounTing STudenTS, eSpecially ThoSe purSuing Their cpa, wanT To go inTo conSulTing righT away. do you have any advice for Them? think about what your end goal is and work backwards from there. My end goal when I started my bComm was to start my own business, and it was still there when I switched routes. For example, if your end goal was a specialty area like tax, then I would go into an go into the corporate world, then I would start directly in industry.

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aS a leader, whaT are Some challengeS of managing Team memberS and employeeS? surround yourself with good people. A key to being a good leader is to work with a strong team. Allow individuals to do their work and and let them have some independence while working on projects. let them develop and whaT characTeriSTicS do you look for in buSineSS STudenTS? there are three things that I look for. First, I enjoy working with people that are passionate about their work. second, I look for people who are driven. lastly, the individual should be people and relationship oriented. If you have those basic qualities, we can teach you the skills required by the company. whaT advice do you have for buSineSS STudenTS who are juST graduaTing?

Get a good foundation! If you want to take the entrepreneur route, nothing’s stopping you.

If you have the world’s greatest idea, go for it.

You’re young when you graduate; there are no rules when you start your own business.

If you’re going that route, then surround yourself with good mentors and advisors. Join an organization that has entrepreneurs; learn the ropes and go through training from the ground up. how do you moTivaTe your employeeS? Motivation is a shared responsibility. supervisors, managers and leaders need to implement the right strategy and create the right environment to get the most out of people. If an employee is losing motivation we check to see if they’re engaged with their

must consider, but it’s usually a collaborative

is a whole range of factors that can be causing the problem, and we work together to address them. a big iSSue ThaT univerSiTy STudenTS have iS uncerTainTy. did you have a Time where you didn’T know whaT you wanTed To do, and if So, how did you overcome iT? many people, upon graduation, who have a 25-year vision of where they want to be.

I would say follow your instincts and your passion. Choosing a profession based on the average salary is a mistake. Don’t give up on your passions, even if success doesn’t come

is also outlook. there were many times in my career where I would have been able to make more money, but looking back at it, I wouldn’t change a thing. whaT are your ThoughTS and advice for STudenTS who wanT To expand Their neTworkS? take advantage of the networking opportunities given to you. look for volunteer activities that can help you get into the business community. Don’t be afraid to be

regrettably, we can’t meet with everyone who sends us an email, but I always think well of them for reaching out. Also, be creative.

I wish I could meet with every student who sends me an email, but it’s simply not possible. or have information that they would like to discuss with me, then there is more of a reason. students should take a creative route and create incentives to meet with business professionals. Add value to the network you create.

EXTERNAL RELATIONS

Aroon SequeiRa written by ZHAYATE MENG designed by CAROL WONG photographed by RACHEL LEE

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CLUBS CORNER

written by BONNIE TRUONG

UAR

OPENING THE DOOR T

designed by CAROL WONG photograph c/o UARC

There is a lot more to real estate than meets the eye. There is an entire industry of opportunities waiting to be explored by strong-minded individuals who want to make it big. Co-President of the University Of Alberta Real Estate Committee (UARC), Brandon Wu even founded his own real estate company with UARC President Brandon Imada. We met up with Brandon Wu along with Martin Rong, UARC’s Vice President of Marketing and had them share their experiences.

where I could do what I wanted with my schedule. I had to create something where I could work for myself but also have the opportunity to make a decent amount of money. At first, the options were either to go into Wall Street or the finance sector, but it was too fast paced and I felt that I would be stressed all the time. So I saw real estate as a way to tap into that freedom, have the ability to make money, and use a little bit of finance at a more relaxed pace.

WHY DID YOU GO INTO REAL ESTATE?

WHAT ARE SOME OF THE CHALLENGES YOU'VE FACED IN THIS BUSINESS?

BRANDON: The number one thing for me was freedom. I wanted something flexible

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BRANDON: When you are young, people

often don’t take you seriously. It’s good because it pushes you to a higher standard to prove yourself to them. You just have to realize that you are at a disadvantage and you have to overcome that. A lot of the knowledge we have is theoretical; we can’t apply all of it to real life. Real estate is really about who you know, not what you know.

WHAT IS A SURPRISING FACT ABOUT REAL ESTATE THAT YOU DIDN'T KNOW BEFORE? BRANDON: That there are more opportunities beyond becoming a real estate agent. I didn’t even know what commercial real estate was and in reality, it is a huge

RC

TO REAL ESTATE WITH

industry. In this field, you have buildings, retail, industrial, and then there are also institutional investors. This is where the finance market comes in. People with large sums of money will buy out commercial real estate and use them for cash flow.

roles and loopholes involved. There are a lot of regulations going into the real estate industry.

MARTIN: I was definitely green going in.

I didn’t know all the different aspects of real estate. I only knew about the retail side: buying a condo and trying to flip it or being a realtor. As I got more involved with the Committee, and after all the events that we hosted, I learned about the financing, investing, brokerage, and development sides. I even learned the legal

BRANDON: This is the first of its kind! It’s called the “First Time Home Buyers” event.

We realized a lot of students are either going to rent or buy their first place soon, and many of them really don’t have any idea where to start. So, we are trying to create an event that simulates an environment in which you are going to buy or rent a place.

We run you through the whole process:

ARE THERE ANY NEW EVENTS YOU’VE PLANNED FOR THIS YEAR?

from all the professionals you need to talk to, what it’s like, and what to watch out for.

Then, when it’s time to make the move, you’re prepared.

MARTIN: It’s one of these events where we want to keep the students as engaged as possible. We want them fully involved in the process as if they are actually buying a house. So if they want to brings friends along (move in together) and make some group decisions, this is a perfect opportunity to learn.

FROM LEFT TO RIGHT: MARTIN RONG, Vice President of Marketing; CHARLES GRENIER-GREEN, Vice President of Finance; TIM TSE, Vice President of Events; BRANDON WU, Co-President and Vice President of Events; BRANDON IMADA, President; ALLAN TANG, Vice President of Internal; THOMAS TAMBONE, Vice President of Communications; RICHARD NGUYEN, Vice President of External

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Designation Routes!

If you're one of those students busily working towards your Bachelor of Commerce degree with a major in Finance or Accounting, have you thought about the different designations you could obtain after completion of your degree?

If you have not thought that far ahead yet, or if you just want a little more direction in your life, continue to read on and become more acquainted with the possibilities post graduation!

Chartered Professional Accountant (CPA)

Chartered FINANCIAL ANALYST (CFA)

The CPA designation is intended to help accountants in Canada gain more knowledge in areas of accounting, and help promote universality among accountants across the nation.

The designation is recognized globally, provides diverse experience to help you work in any sector, and allows you to

If pursuing finance, obtaining your CFA designation demonstrates a mastery of skills in investment analysis and

few.

To enroll, one must complete their degree. As well, listed

In order to enroll in the CPA program at http://www. cpacanada.ca Commerce degree, and ensure they have met all prerequisites for the program. If attending the University of Alberta, the current prerequisites are:

enroll in the CFA program:

ACCTG 311, 322, 414, 415, 418, 424, 456, 467, 468 SMO 310 FIN 301 MIS 311 ECON 101 & 102 MGTSC 312

designation recognized globally with opportunities to work

SMO 406 FIN 301, 412, 413, 416, 418, 422, 434 MGTSC 312 ECON 101, 102 ACCTG 311, 412, 414, 415, 416, 418, 432 To see a more in-depth undergraduate curriculum guide, go to the link below and click on the “Undergraduate Curriculum Guide.�

Once enrolled in the CPA program, it will consist of

https://business.ualberta.ca/programs/bachelorof-commerce/current-students/cfa

as well as thirty months of relevant work experience. The six modules consist of:

In order to obtain your designation, you will need to:

and governance, management accounting, audit, Two elective modules with choices of assurance, accounting, you must choose assurance and tax).

Finally, two Capstone modules that deal with leadership and professional skills, and an integration of everything learned so far.

For more information, you can learn more by checking out

Pledge to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.

II, and III). membership in a local CFA member society.

written by REBECCA OKRAINEC designed by CAROL WONG

THE ABOVE INFORMATION WAS RESEARCHED ONLINE AND COULD BE SUBJECT TO CHANGE. FOR MORE DEFINITIVE, CURRENT DETAILS, MAKE SURE TO CHECK OUT THE OFFICIAL WEBSITES.

18

UNIVERSITY OF ALBERTA

ACCOUNTING CLUB

TAX CLINIC

TAX SEASON For some people, tax season can be the main cause of some really big headaches.

Not only are hours upon hours sometimes spent sifting through stacks of tax-related documents, but for some people, doing their tax returns can be both a confusing and frustrating process as well. Fortunately for us, that’s what the University of Alberta Accounting Club’s (UAAC) annual Tax Clinic is here for!

As part of an annual effort to give back to the community in a meaningful and practical way, the UAAC provides supervisors, tax reporters, and client coordinators every March to prepare income tax returns for hundreds of individuals as part of the Canadian Revenue Agency’s (CRA) Community Volunteer Income Tax Program (CVITP). The Tax Clinic team collectively volunteers thousands of man-hours every year! Whether you are a student, a senior citizen, or even a newcomer to Canada, the UAAC’s goal is to provide free tax returns to those who may be missing out on important benefits and tax credits.

UAAC TAX CLINIC The UAAC will be hosting its 20th annual Tax Clinic this year, which runs from March 9th to March 27th, 9:00AM to 5:00PM from Monday to Friday; and as with previous years, the Tax Clinic will be located in the Business-Tory Atrium. Information regarding what people should bring and how they can help when utilizing the services of the Tax Clinic can be found on the Tax Clinic webpage at: uaac.ca/tax-clinic. However, as the Tax Clinic is designated to help people with relatively modest tax situations, clients must fall within the CVITP criteria of eligibility in order for the Tax Clinic team to properly assist them. Extensive details regarding the CVITP criteria of eligibility can be found on the CRA’s website at: http://www.cra-arc.gc.ca/tx/ndvdls/vlntr/nd-eng.html.

For additional information, the Tax Clinic team can also be contacted by email at uaactaxclinic2015@gmail.com or by phone at 780-492-2993; and any general inquiries that extend outside of the Tax Clinic can be answered through the UAAC by email at uaac@ualberta.ca. Remember, if you need some assistance with filling out your tax returns, then don’t forget to keep an eye out for the UAAC’s Tax Clinic this month! written by GARRY DENG

INFORMATION RECAP WHO: University of Alberta Accounting Club WHAT: Tax Clinic WHEN: March 9th to March 27th, 9:00AM – 5:00PM (Monday to Friday) WHERE: Business-Tory Atrium WHY: To give back to the community by providing free tax returns

UAAC TAX CLINIC CONTACT INFORMATION GENERAL INQUIRIES EMAIL: uaac@ualberta.ca TAX CLINIC EMAIL: uaactaxclinic2015@gmail.com TAX CLINIC PHONE: 780-492-2993 TAX CLINIC WEBPAGE: uaac.ca/tax-clinic CRA WEBSITE: http://www.cra-arc.gc.ca/tx/ndvdls/vlntr/ nd-eng.html

designed by NICHOLE CHEN & CAROL WONG

19

A YEAR IN THE

s u i n e s B s f o l o Alberta Scho GENERAL JOURNAL

Dr Textbooks I’ll Never Read

500

Cr Cash

500

To record the purchase of overpriced textbooks that were impossible to buy on Kijiji because business students hardly resell. Hey, you never know when you’re going to need to calculate straight-line depreciation.

10-10-2014

300 Cr Cash

300

To record the purchase of clothing for networking purposes. And case competitions. And presentations. And being featured on the SMO Club Facebook page.

10-27-2014

Dr Time in Preparation for Midterms

50

Cr Sleep

50

To record time studying on account, terms 2/10, n/30.

10-31-2014

20 Cr Cash

20

To record the acquisition of beers after getting creamed by ACCTG 311.

11-03-2014

100 100 To record the consumption of beers.

02-08-2015

Dr Sleep

50

Cr Sleep Debt

50

To record collection of sleep debt on account during Reading Week.

03-13-2015

Dr Depreciation Expense Cr Accumulated Depreciation

writ ten by

NICOLE HA

designed by

20

MMOND

ERIN STRU

BLE

10,000 10,000

SHOU LD

YO U

ACCOUNTING

MA J O R OR

I N

FINANCE?

A completely unscientific way of choosing one of the most important things in your life.

S TA R T Q : do you love

FINANCE?

YES

Q : do you love

not really.

ACCTG?

Q : do you want a degree that can be used in lots of different fields ?

YES

Obviously you should be an accounting major.

eh…

Strange that you love it so much, but you do you.

AC CTG .

YEAH!

Obviously you should be a finance major.

What are you taking this quiz for?

that way I don’t have to decide right now.

Q : do you like following rules and guidelines ?

Go look at the stock market or something, jeez.

FIN.

nah, that’s

NOT FOR ME

Accounting sounds good for you, go get your CPA.

Q : are you creative with numbers ? do you make your own formulas before learning the ones taught in class ?

W O W, N O .

that’s so not me.

that’s totally me!

NAH MAN. I’m an anarchist.

I think outside the box.

Or don’t, I don’t care.

AC CTG .

Accounting has a ton of rules, so here you go. Go crazy.

AC CTG .

Well, I guess you have to drop out of university. Oh wait, there are a ton of other useful majors out there that are as good as accounting and finance.

YES

Finance seems to be in your wheelhouse. So go and make some money!

YEAH!

I adore some good rules.

Q : are you sure ? finance might be a good fit.

I’M SURE.

REMEMBER, NO ONE TAKES RESPONSIBILITY FOR YOUR DECISIONS! GO FOLLOW YOUR PASSION INSTEAD OF FOLLOWING A FLOWCHART.

FIN.

NO, I’M NOT SURE. Now that I think about it, finance feels right for my non-conformist thinking, good job giving me a second chance!

written by KARA HAUCA designed by ASHLEY TRUONG

21

M

uch like death, taxes, and terrible group projects, Finance 301 is a fact of life. Whether the class was the highlight of your first year, or an experience that still gives you nightmares, the fact remains that you must learn (or scribble onto your cheat sheet) the formula for calculating WACC in order to obtain a degree. And so, since we’re all in this together, we may as well get to know one another. Allow me to introduce to you: the five people you’ll meet in Finance 301.

written by KYRA CUSVELLER designed by CAROL WONG

THE WOLF

THE GENIUS If you haven’t seen them yet, you’ve

THE

5

PEOPLE YOU WILL

MEET IN

superwoman boss

FINANCE 301 THE PROF

THE NEGATIVE NVP

22

LAZY CHAT

GETTING TO KNOW

Mark Wang MARK WANG is a fourth year Finance major and is the current president of the Business Finance Association. He completed his CFA Level I exam in June of last year, and has gained valuable experience working with Sequeira Partners during the course of his undergrad.

easy to see how problems in the classroom are based on ideal assumptions and clean data. You quickly run into problems trying to apply clean models to the real world. For more practical knowledge and case studies, I would highly recommend FIN 430 – Corporate Financial Planning. The course places a heavy emphasis on cases and different financial situations real companies face.

How has acting as President of the BFA helped you grow as a professional?

Has finance always been your endgame?

What grew your passion for the field?

Before taking the role, I knew being president was a complex job. In the end it’s been hugely rewarding in helping me understand the dynamics of a leadership role. I’ve learned to always maintain a vision or end goal, and that careful planning is key to the successful execution of any project. I’ve also learned to always make sure everyone on the team feels appreciated for his or her contributions.

I began my BCom as a declared finance major because I had been strong in math and physics during my preprofessional year. FIN 301 really affirmed my decision to pursue a career in finance as I did fairly well in the course and I found the subject genuinely interesting. Joining the BFA is what got me interested in pursuing investment banking as a career. What I love is the intense learning environment, and working on deals is very exciting – even if it means working long hours!

After working with Sequeira Partners, do you feel your education prepared you for the real world?

At Sequeira, most of the work revolved around mergers and acquisitions in the midmarket energy services space. Starting out, it was

Do you have any advice for students considering Finance as a major?

Fundamentally, you’ve got to be good with numbers and accounting. You also have to

be comfortable with uncertainty and the risks that come with this predictions-based discipline. Networking is really the best method to explore the area. Talk to people (especially recent graduates) in the industry and really learn what they do – both the good and the bad. Ask yourself honestly if it is something that really interests you. You also need to be ready to work on that GPA. Many of the lucrative “front office” positions in finance are competitive and would typically require a high GPA (sometimes 3.7+) and good work/ extracurricular experience.

What are some of your favourite sources for keeping up with finance or business news?

I use a variety of sources. FinViz is one that I use to get a daily overview of the major indices, major commodity prices and a quick overview of the market. I have Globe Unlimited and the National Post apps on my phone that send me push notifications with any major news. Daily Oil Bulletin provides me with daily headlines in the Canadian oil patch. I’m also subscribed to some specific Canadian companies using Newswire and Marketwired. written by THOMAS YONAN designed by CAROL WONG photographed by MICHAEL ZHANG

23

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