Accounting and Finance Personal Statement
All 5.7 million firms in the UK know the huge value of accounting and finance. It is the backbone of all firms and organisations cannot function without it. Accounting is the key to maintaining success and assessing incomes, by using current and past incomes and expenditures to predict future cash flows.
I’ve been a keen mathematician from an early age and taking my Maths GCSE, aged 14, made me realise that I had a talent with numbers and assessing data. I have enjoyed deriving equations, finding derivatives and using algebra. To demonstrate my passion for Maths, I have attended an advanced maths course, hosted at Kings College, which covered probabilities, programming and trigonometry. I can apply all my algebraic knowledge and statistical analysis towards accountancy problem solving skills.
Economics is the study of how society uses its limited resources while managing its unlimited wants. This notion of specialisation is vital in any country and in any business. I have witnessed the true effect of conflict and lack of government intervention during a holiday trip to Sri Lanka to visit some of my relatives. Economics has given me the ability to identify that government intervention could be implemented to improve Sri Lanka’s and other lesser developed countries’ standard of living. I believe certain policies to increase spending could be introduced but it is important in recognising such an objective must be regulated to prevent rapidly increasing inflation, lowering real wages and making the economy uncompetitive. I personally recognise such a concept about looking at things from a wider perspective can be applied to a goal of a business. For instance, maintaining strong economic growth of a country as well as keeping inflation at a steady rate is comparable to raising profits of a business while maintaining their market share and vice versa. [I want to say more about my economic application to Accounting and Finance]
Physics has aided my problem-solving abilities while simultaneously analysing data and deducing relationships and patterns between several variables, particularly useful skills in the course when using financial functions or models. While studying, I was enthused by Special Relativity a phenomenon about how the speed of light is the same through a vacuum no matter in what direction or how fast the observer is travelling. This topic has improved my theoretical understanding of such phenomena and since changed my way of thinking.
Recently, I was able to secure work experience at a financial company called Legerity Limited, currently tackling one of the International Financial Reporting Standards (IFRS 17) offering a SaaS (Software as a Service) model. While I was working there, I sat in on some of the meetings, learned how ledgers and sub-ledgers function and learned about the idea of risk in the insurance industry. Last year I participated in the Young Enterprise programme that helps pupils to set up their own companies, compete and fully understand the difficulties of start-up firms like rising capital, requiring initiative ideas for fundraising. From this I developed and improved my communication and teamwork skills as well as being a key member in managing cash flows of the company; managing setting up costs and sales revenue from market held in central London as well as venues e.g. Kingston and Chiswick. From this involvement I know what it is like to produce and sell a product, the reason behind the existence of all organisations.
I have a strong passion for music having played both the violin and piano, starting in early primary school. I also enjoy sport particularly playing football and basketball, great examples of teamwork and communication activities. For me, a degree in Accounting and Finance would not only allow me to develop my analytical and problem-solving abilities but also provide me with the opportunity to enter any enterprise with the skills to enable them to prosper.
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