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I'll take tax code section 179 for $500, Alex

Today, May 19, 2014, is the 40th anniversary of the Rubik's Cube.

For all you youngsters who don't have any idea of life before digital media, it was an actual cube puzzle. It was such a phenomenon that Google created a doodle for the big day.

Rubiks Cube birthday May 19 Google doodleClick image for interactive cube.

Deciphering tax laws is all too often as frustrating as lining up Rubik's colored squares. But as this just-passed filing season was winding down (for most folks), another iconic game captured the interest, and skills, of some future tax professionals.

On April 25, more than 60 Kentucky college accounting students participated in the PEAK Challenge. PEAK is not just an acronym. It's one of the missions of the Bluegrass State's professional accounting society: to Promote and Encourage Accounting in Kentucky.

To that end, the Kentucky Society of Certified Public Accountants (KyCPA) holds the annual PEAK accounting competition. The Jeopardy-style competition provides college students the opportunity to test their knowledge of the accounting profession.

This was the contest's fourth year. Teams from 13 Kentucky colleges and universities vied for the PEAK championship.

Teams went head-to-head on accounting questions in five categories. Four were directly related to the four sections of the Uniform CPA Exam; the fifth area covered questions about material on the KyCPA and American Institute of CPAs websites.

The 2014 PEAK title went to five Eastern Kentucky University (EKU) accounting students. The winning team members were included Jacob Carberry, Andrew Hicks, Shelby Howell, Brian Overall and Sam Shearer. Dr. MaryBeth Holbrook, EKU accounting assistant professor, was team advisor, assisted by EKU alum and MBA student Brittany Neaves.

"Year after year, the students who participate in PEAK are motivated, bright, and well on their way to successful careers," said Holbrook. "Our performance … pays tribute to the strong accounting program we have at Eastern Kentucky University and the outstanding students EKU serves. It was a great day for EKU Accounting!"

Congratulations to the EKU team, as well as all the participants and KyCPA.

And keep an eye on your e-mails. I'm sure a message from Alex Trebeck is in the works!

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