This event recognizes PBL members who demonstrate a comprehensive understanding of accounting, tax, and auditing principles.

This event consists of two (2) parts: an objective test and a production test. Participants are required to complete both parts to be eligible for an award. A one (1) hour objective test will be administered based on the competencies listed. The score received on this portion of the event will constitute 50 percent of the final event score. Students may bring financial calculators to the objective portion of the test. One (1) hour will be given for the production test at a school site designated by the state chair/state adviser. Accounting or spreadsheet software must be used. Students may bring prepared templates, which may include, but are not limited to, general journal, bank reconciliation, payroll, financial statements and worksheets.  The score received on this portion of the event will constitute 50 percent of the final event score. Calculators are not allowed on the production portion of the test.


The one-hour objective test may include questions on accounting concepts, principles, terminology; audit controls, evidence, procedures, and reporting; cost accounting; financial accounting and federal income tax; financial statements and worksheets; measurement and presentation of income and expense items; measurement, valuation, realization/ recognition; not-for-profit and governmental accounting; ownership structure and valuation of equity accounts; presentation of assets and liabilities; professional standards and ethics.

The one-hour production portion will focus on the following competencies:  financial statements; bank reconciliation; payroll; trial balance; journalizing; depreciation; adjusting and closing entries.



Participants must have paid state and national dues postmarked by February 15 of the current school year.

State    Each charter may enter six participants

National    See national guidelines:



State    When it has been determined that a student will represent the charter at state competition, the appropriate entry form must be sent to the state adviser received by the date specified in the SLC registration packet.

National    See national guidelines:

• Participants must be selected in accordance with the regulations of the state chapter and the national association.

• Participants must not have entered this event at a previous National Leadership Conference or placed 1st or 2nd in this event at a previous State Leadership Conference.

• Participants failing to report on time may be either disqualified or permitted to begin late with no extension of the time as scheduled. 

• Participants must furnish their own No. 2 pencils, erasers, and calculators.  Participants may bring a financial calculator to the objective test portion of this event; however, no other electronic devices are allowed.  No reference materials or other items are to be brought to the event.

• Participants must adhere to the dress code established by the Board of Directors or they will not be permitted to participate in the competitive event.



Objective tests will be machine graded.  This portion will constitute 50 percent of the final score.

Judging of the skill test will be based on printed copy.  The documents will be evaluated by a panel of judges.  This portion will constitute 50 percent of the final score.  In the event of a tie, the students’ performance on the final ten questions of the exam will be evaluated.  After that, if necessary, the order in which the tests were received will be used. All decisions of the judges are final.



State    State awards for the top five places are presented at the State Leadership Conference.

National    The number of awards presented at the National Leadership Conference is determined by judges and/or number of entries.  The maximum number will be ten.