Financial Term Report FALL 2009

FALL2009 Term Report

Table of Contents

Financial Statements Consolidated Income Statement 4 Revenue Breakdown 4 Expense Breakdown 4 Notes to Consolidated Income Statement 4 Allocation of Contribution Overview 6 Endowment Allocation of Services 7 Endowment Allocation of Events 8 AFSA Finance Committee Meet the Team 9

Financial Statements

42%

22%

2%

34%

Marketing ExternalInternal - Events Other Revenue

48%

0%

13%

26%

2%1%

10%

Marketing

Communications

External

Internal - Events

Internal - Services

Admin & Knowledge Management

Grants & Sponsorship

Notes: 1With 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)

Marketing Sale of Merchandise $7,550.00

Subtotal $7,550.00

External

Fall CA Night $1,375.00 Corporate Sponsorship $2,500.00

Subtotal $3,875.00

Internal - Events

In-House Case Competition $355.00 Subtotal $355.00

Other Revenue

Interest Revenue $6,000.00 Subtotal $6,000.00

Total Revenues $17,780.00

Marketing Merchandise $7,161.33 Promotions $12.97

Subtotal $7,174.30

Communications

Essentials $46.17 Subtotal $46.17 External

Fall CA Night $1,709.34 AFSA Gives Back $165.62

Subtotal $1,874.96

Internal - Events

AFSA Launch Party $1,123.62 Reach for the Stars $364.63 Culture Night $533.57 BBT/Comedy Night/Talent Show $427.14 Sports Day/Golf Day $300.76 In-House Case Competition $597.62 Wine and Cheese Event $55.00 Bomber Night $500.00

Subtotal $3,902.34

Internal – Services

Adopt-a-Coop/Resume Critique Session $212.75 Speaker Series $93.25

Subtotal $306.00

Admin & Knowledge Management

General Meeting $215.25 Subtotal $215.25

Grants & Sponsorship

Accounting Orientation Committee $953.00 ACE Financial Services

1 $600.00

Subtotal $1,553.00

Total Expenses $15,072.02

Net Income $2,707.98

Revenues

Expenses

Accounting and Finance Students’ Association Income Statement

For the Term Ended December 22, 2009

Revenue Breakdown

Expense Breakdown

4

Allocation of Contribution

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.

Accounting and Finance Endowment Fund Contribution Allocation

6

Endowment Allocation for Services

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 1st 2nd 3rd 4th

Total Expenses

$23.31 $94.23 $94.23 $94.23

70%

30%

Endowment Fund Allocation for Services (%)

Adopt-a-Co-op / Resume Critique Sessions

Speaker Series

Endowment Allocation for Services

7

Endowment Allocation for Events

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. 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 Expenses

$1285.05

$954.10 $954.10 $954.10

13%

10%

7%

15%7%

27%

9%12%

Endowment Fund Allocated to Events (%)

Culture Night

BBT/Comedy Night/Talent Show

Sports Day/Golf Day

In-house Case Comp.

Wine and Cheese Event

AFSA Launch Party

Reach for the Stars

Bomber Night

Endowment Allocation for Events

8

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

Manager Meryl Almeida

Associates Matthew Lui & Sanket Shah

Accounts Payable

Manager Teresa Choo

Associates Sharon Ren & Cindy Zhang

Financial Statements

Manager Meng Wang

Associates Vithushan Jeyakumaran & Jing Xu

Term Report

Manager Joanna Tam

Associates Roanna Shen & Vincent Vu

Contribution Analysts

Manager Diana Hanna

Associates Quinntin Fong & Jason Gong

VP Finance

Shubham Datta

9