2019 - 2021 FMA Magazine

CASE COMPETITIONS
the United Kingdom in the March 31 final round, held virtually.
The Harbert College students were awarded $15,000 for for the
first place finish, defending the national title against finalists
from the University of Texas and California-Berkeley. The
international prize netted the students another $15,000.
“I could not be prouder of these students and our program as
a whole,” said Tracy Richard, Director of Harbert College’s
Financial Leadership Program. “This competition is rigorous
with 277 original entries this year. The win exemplifies the talent
of the Auburn students and the FMA program on a national
stage, and clearly shows our ability to go toe to toe with elite
institutions. Auburn FMA fielded a team in this international
competition every year for the last five years, placing in the top
five every year but one and winning the national title the last two
years.”
The annual YOUniversity Deal Challenge engages teams of
business students from across the world to showcase their
finance skills through simulated case studies. Top teams from
each region – the Americas, Asia, India, and EMEA (Europe,
Middle East and Africa) – traditionally have met in a final
international competition. COVID-19 continues to throw a
wrench into those plans, however.
“Winning prestigious national competitions like these against
other great business schools definitely puts us on the map,”
said Jarvis, President of the Auburn Student Investment Fund
and Incoming FMA Co-President. “We want to market this
to students in high school and say, ‘Look what we’re doing at
Auburn.’ There are other great business schools in the South and
winning these types of competitions legitimize Auburn FMA, our
finance program, and the Harbert College of Business.”
For the March 31 finals, students were provided financial
information regarding a hypothetical restaurant that recently
made an acquisition. Students were challenged to determine
whether or not this was a smart move and make valuations,
pre- and post-COVID, on the restaurant. Students were given
30 uninterrupted minutes to present, then another 30 to answer
questions.
“Our main deliverable was the valuation,” Jarvis said. “It was
interesting, trying to find research materials and precedent
transactions that accurately reflected the types of multiples that
we needed to see. This wasn’t necessarily part of the deliverable,
but we just threw in tidbits like, ‘We think they should invest
in delivery kitchens because that’s where we see the future of
the restaurant industry, especially in the recovery from the
pandemic.’”
Jarvis credited FMA – and a familiar face -- for best preparing
the team for this competition and setting them up for bright
futures beyond college.
“Auburn FMA has, hands down, changed my Auburn experience
and my career path in ways that I couldn’t have even imagined,”
she said. “One of my favorite things that is evidenced through
these case competitions is how the former students like to give
back. And even beyond graduation, we receive so much support
and involvement from our alumni. This year, Jimmy Brewster’s
mentorship was invaluable. He graduated last December, and
he’s still giving back, helping us with the presentation and the
valuation for no personal gain. He wants to see the organization
flourish and grow and succeed.”
Brewster, a former FMA President and competitor on FMA case
competition teams, was Harbert College’s Graduation Marshal
for Spring 2020.
“Through Harbert College’s finance program and the FMA,
I’ve learned so many technical financial skills, including capital
structure analysis and valuation, that I wouldn’t have learned
otherwise,” Jarvis added. “Also, I’ve learned so much about
gratitude and stewardship. I have only one year left at Auburn,
but after graduation, I plan to be as involved as the committed
alumni that have gone before me.”
FMA 2019-2021 MAGAZINE 39