Five teams of senior accounting majors from five Long Island colleges are rolling up their sleeves to compete for bragging rights in Margolin, Winer & Evens’ third College Accounting Challenge on Wednesday.

C.W. Post, Adelphi University, NYIT, SUNY and Old Westbury and Molley College will be represented in the challenge to be held at Adelphi University’s campus in Garden City.
Newsday columnist, Fox News Channel Political Analyst and comedian Ellis Henican will host, posing challenging accounting questions.

The winning school will receive a commemorative trophy and each team member will win a $300 American Express gift card.

The event, which is open and free to the public, will take place from 10:30 a.m. to 12:30 p.m. at Adelphi University’s Performing Arts Center Concert Hall located at One South Avenue.

For more information contact Tracey Segarra, director of marketing at MWE. She can be reached at 516-240-4391.

In other accounting challenge news, one of two teams registered from the University of Virginia took top honors in the final competition of the 2010 Goodman Accounting Challenge, held Nov. 5 & 6 in Richmond. The first place team consisted of Matthew Glienke, Bennett Dean, Matt Davis and Alec Haesler, with Adam Koch as their professor.  They won $2,500 for the school’s accounting department and each team winner earned $1,500 for their participation.

This year marks the ninth year of the Goodman Accounting Challenge – a competition created to promote the integrity of the accounting profession and recognize outstanding accounting students.

The College of William & Mary took second place in the competition, followed by James Madison University.

In addition to hosting the competition, Goodman and Company announced a $250,000 commitment over three years to numerous area colleges and universities.