Finance personal statement

As a senior student at the Management School in Jinan University, one of the oldest “211” key national universities in China, I will graduate in 2010 with a diploma. However, I believe that will not be the end of my academic life. To build up a great career upon my interest, I am now applying for advanced studies in your quality program, hoping that I can pursue a master degree of Accounting and Finance at the University of Adelaide along with a financial aid if possible.

During my undergraduate course, I figure out how and why I can succeed in financial world. To some extent, I have a talent in mathematics which plays a crucial role in my academic achievement. I got full marks in Advanced Mathematics as the only person around the whole grade. I have always had a logical, organised and practical way of thinking, as well as a competitive nature, and maths has always appealed to these characteristics. Besides, I did a lot of readings in my spare time, which are related to the most recently events in Accounting Principles, Taxation Laws, and the World Financial Markets both Chinese and International. Fortunately, I really enjoy myself in knowing the challenges of today's business and societies. By knowing these, I establish my career goal, to be an excellent CFO.

My education so far is characterized by indisputable excellence. During the first three years of my undergraduate studies, my GPA was consistently one of the highest in my class of 215 students. In recognition of my outstanding academic record, the university has selected me to enter into graduate studies without the usually mandatory admission exams, a privilege given to only a few of the excellent students each year. I have, however, decided to turn down the offer. Because I believe the experience of studying in the University of Adelaide is more valuable for me.

Here are some reasons for my chosen of the University of Adelaide. First, she is third-oldest university in Australia and is known internationally for the quality of its programs. Second, The Master of Accounting & Finance offers a combination of accounting and finance studies in order to enhance career prospects and extend knowledge of both disciplines. The courses you provide will strengthen my employability in the areas of financial management while providing a professional accounting qualification. Furthermore, this program is designed to satisfy the academic requirements for associate membership of CPA Australia and the Institute of Chartered Accountants Australia (ICAA). That means the course I have will fulfill the requirements of both professional bodies. As far as I know, the program is also recognised as a CFA Program Partner which is also an essential factor as I concerned. In addition to the reasons of the above, I really fancy to both the fabulous campus and the city of Adelaide.

I am anxious to study here in the University of Adelaide to achieve my career goals. Undoubtedly, I will try my best to complete this program swimmingly and honourablly.

Finance personal statement

During my school years, the company I kept had quite a few students of Accounting. When I asked them the reason for choosing the field, there answers varied between “Because my father said so”, “Because im not good at science” or “I’ve heard the pay is really good”. None of them showed any passion for it and all unanimously agreed that it was really dull. The only professional I came across, was mind numbingly lifeless. Later on I would find out that my friends’ opinions were an indication of their inexperience and the man was an exception.

My journey into the realm of accountancy began with my brief internship at a reputable firm in Islamabad. Due to my amateurish nature my activities were restricted to studying material given to me by my mentor. I was familiar of the all pervasive nature of accounting, but during these study sessions and my brief (and ongoing) stint in ACCA, I realized that what I was familiar with was a small part of a wider presence.

Anyone with a basic knowledge of accountancy can to some extent indentify the role Financial Accountancy plays in our daily life; but it requires a somewhat deeper understanding to distinguish the role of Managerial Accountancy. Consider an everyday decision of the need for a housekeeper. Can Management Accounting concept such as ‘Zero Based Budgeting’ be applied to such a situation? Before making a decision you’ll probably go through the following steps: 1. First off the following questions have to be answered: • Is a housekeeper really required? • What would be the consequence of not hiring one? • Is there an alternative way of getting the job done? • How much am I willing to pay? • Will the services received be worth the cost? This is similar to the development of a questioning attitude which is of great importance in any budgeting process and need to be developed by all those involved. 2. Then you would go through the choices available. • Hire fulltime help, provide provisions and abode at a cost of Rs 6,000 per month. • Hire part time help, who works for 5 days a week for Rs 1,500 per month. This step is similar to the first step for the basic approach to the application of ZBB Defining decision packages, and the two choices an example of mutually exclusive packages i.e. two alternative methods of getting the same job done. 3. Now you may decide that although you may have greater control over a fulltime housekeeper, the difference is not worth the extra Rs 3,500, and thus you’ll go with the part time help. In other words you decided on a package after conducting a cost-benefit analysis yet another important step in the implementation of ZBB

4. With hiring part time help you may get options of; • Hiring two people and dividing the job between them, and paying apportioning the Rs 4,500 relative to the amount of services they provide. • Hiring two people, dividing the job between them but accruing an extra Rs 500, justified by better quality of service. These options are “dividing one aspect of an activity into different levels of effort”; the definition of incremental packages. These together with the base package (package requiring the least effort) in this case the original preference must be considered in reaching the outcome; which again is following the approach of ZBB. 5. And finally you will set aside the required amount from your available funds or in technical terms ‘allocate resources in the budget according to funds available’.

So how does a degree in Accounting and Finance fit in with my ambition? I wouldn’t mind working for prestigious organization as an Accounts Executive or a Financial Advisor, but what I want is to play a role in the future policies of my country. For this purpose I would like to join the District Management Group (DMG) of the Civil Services of Pakistan.DMG officers occupy core administrative assignments in sub-divisions, districts or provincial governments. An important part of good administration is having a good perception of Accounting principles and practices and the relevant skills in Planning, Control and Decision making; all pertinent to the degree.

Why would I choose LUMS, an institute of the highest standards, to fulfill a minimum requirement for sitting for the CSS examination, when there a numerous easier alternative available; institutions a lot easier to get in and a lot easier to get through?

The answer lies in what LUMS has to offer and what I can gain from LUMS. Apart from the obvious tangible (a degree which will go a long way in insuring a safe and successful future, opening new opportunities if one fails), are the copious intangibles I can benefit from.

One inconsistency which I would not like to be associated with is what my father describes as “the lack of biting force”. LUMS provides an atmosphere of intense competition, and standing out in LUMS means taking the initiative, getting heard and being creative, or in the words my father “growing some canines”.

Many of the greatest minds of Pakistan roam the corridors of LUMS, and walking with them means expanding your intellectual horizons. Developing new interest, interacting with versatile individuals and engaging in insightful discussions all play a role in evolving a mind frame necessary for success in the dynamic world today.

LUMS has its own culture, its own legacy; it makes those within feel that they are part of something important, a cohesive unit. It is this physical and mental integration which motivates those fortunate enough to become a part of it to make a lasting contribution to LUMS and for LUMS.