Accounting Competition

The Assignment

Gizmo Toys, Inc. was established in 2001 by husband and wife team Adam and Jessica Ramirez. The company initially designed a small range of products that were manufactured in the United States and sold in local toy stores in their hometown of Joliet, IL, and nearby Chicago. Since these toys proved to be very popular in the local market, Adam and Jessica decided to expand the range of products.

By 2006, within five years of starting Gizmo, the founders were encouraged to see increasing requests for Gizmo’s products ordered by many large toy retailers across Europe. By this stage, the company had grown considerably, and had annual sales of nearly $3 million. In 2008, to keep up with demand, Gizmo started outsourcing all of its manufacturing to a range of Chinese plants in order to reduce its cost base and to enable the company to price its products more competitively.

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Drumroll, please.

They scored $10,000 for themselves. Went to North Carolina to compete for even more money for their schools. Pitched their proposed plans to a panel of professionals. And now, after the judges conferred, a single team is bringing home $5,000 for their college and ultimate victory in the competition. Congrats to our 2015 champs for successfully sharing their CGMA smarts!