The Atma Jaya Yogyakarta Supreme Accounting Competition (ASAC) is a national-level accounting competition held at the university level. It is organized by the Accounting Student Association (HMPSA) of the Faculty of Business and Economics, Atma Jaya University, Yogyakarta, as a platform for implementing the knowledge gained during their studies. In addition to providing a platform for implementing this knowledge, the Atma Jaya Yogyakarta Supreme Accounting Competition (ASAC) is expected to test not only the conceptual but also the technical abilities of all students throughout Indonesia.
The Olympiad consists of four rounds: the preliminary round on March 12, 2022, the preliminary round and semifinal round on March 24, 2022, and the final round on March 25, 2022. Approximately 27 groups from various universities in Indonesia participated in the preliminary round. In this round, teams completed 70 multiple-choice questions and 10 short answer questions within 120 minutes. The 15 teams with the highest scores were eligible to proceed to the preliminary round of ASAC 2022.
In the preliminary round, there are 2 stages, the first is Preliminary 1 where each member will get 1 different package of questions and will be worked on individually consisting of true-false questions and short answers with a time of 60 minutes. Then continued with Preliminary 2 where each team gets the opportunity to answer short answer questions in the form of theory and calculations with a time of 40 seconds for each calculation question and 20 seconds for each theory question. The final result of the preliminary round is the accumulation of scores in the Preliminary 1 and Preliminary 2 rounds. The 10 teams with the highest scores continue to the semifinals.
The semifinal round also consists of two stages: Semifinal 1 (Bid and Win). In this round, teams bid to determine the number of points they will receive after being given clues about the questions by the committee. It consists of 20 questions to be contested within 60 minutes. Next, in the semifinal round, two teams work on the trade accounting cycle within 75 minutes. The final result of the semifinal round is the accumulation of scores from semifinal 1 and semifinal 2, to determine the top 5 teams that will advance to the final round.
In the final round, teams were given a case study on an accounting issue and given 30 minutes to discuss and prepare a presentation. After presenting their case study, each team received questions from the panel of judges.