Accounting and Finance Personal Statement 3

Hoi Lee Yang is currently a first year undergraduate reading Bsc in Accounting and Finance at London School of Economics. This personal statement was part of his successful application to LSE, University of Warwick, University of Bristol and Durham University for Accounting and Finance.

As a child, I was enamoured with the same questions that would have plagued any
questioning child’s mind. Like any aspiring engineer or doctor or lawyer, I yearned to know more about how the world, in all its intricacy and sophistication, functioned. I savoured my opportunities to learn about the breakthroughs of physics in creating our modern comforts, and relished the study of history: of how every nascent today is inextricably linked to past events. I have been thrilled by the knowledge of anatomy, learning so intently about what I was, and how I functioned. Despite all this, the world appeared insistent in showing me that the true key to understanding its machinations lay not in any of these fields. The surest way to make sense of the world, it seemed, was in a certain field without which all human activity would not function. It manages us, as much as we try to manage it: money.

I am interested in accounting and finance due to its sheer ubiquity. I realise that every economic entity, from the big corporations and governments down to local sundry shops or even households, relies on the management of finances and planning for the best future outcome. Accounting has always been a deep-rooted industry, charting a colourful history from the clay envelopes used for bookkeeping in 5000 BC Mesopotamian temples, to the double-entry ledgers of Medieval Venice. Regardless of what general perception might contend, though, I am convinced the field of accounting is also one of growth and vibrancy. Looking to the recent proliferation of financial technology, or Fintech, I am particularly keen to follow the advances in the field as I make my journey into accounting at university.

March 2017 saw HSBC, Europe’s largest bank, partner up with an online commerce
platform, Tradeshift, to offer an online alternative for financing and paperwork. This is part of a broader phenomenon of big finance companies collaborating with Fintech startups not just in the UK, but around the world. On the ground, we see the business world evolve, just as it did when manufacturing first took root in the Industrial Revolution. A KFC outlet in Beijing now accepts payment through facial recognition, and the Singapore government is working on a standardised QR code system for all monetary transactions. Bitcoin, despite price volatility and initial hostility from banks had, by the end of August 2017, octupled its market value in a year, pointing to its increasing use as a medium of transaction. Other cryptocurrencies like Ethereum and Litecoin also follow suit. At university, I am eager to refine my knowledge of the current framework of finance, and alongside a group of equally-curious peers, enrich myself with a better understanding of how the status quo will adapt to these technological advances.

I am drawn to accounting and finance due to the promise of challenge, not only arithmetically but also in tackling complex problems. A-Levels also marked my first exposure to the world of Economics, allowing me to enrich my understanding of accounting with a background context in how the business world worked. The course compelled me to pick up books such as Daron Acemoglu’s ‘Why Nations Fail’, which intrigued me with the idea that governments must strive to maintain inclusive economic activity that incentivises every party to work hard. The copious examples of failed civilisations which could not ensure a reward for parties to take risks and adopt new technologies had also sparked my interest in management, realising how similar the running of businesses are to that of entire civilisations.

I feel I am a dynamic, curious and highly-motivated student who is very excited about the prospect of studying Accounting & Finance at a first class university in the UK. I eagerly look forward to the challenges I will face on an academically rigorous and complex course. And hopefully by the end of my degree, the machinations of the world will be a little less elusive.

DISCLAIMER: The personal statements on this site are strictly meant as a starting point to give an idea of how successful personal statements look like. There is no surefire formula to writing good personal statements. COLLEGELAH IS STRICTLY AGAINST PLAGIARISM OF ANY KINDUCAS employs a plagiarism check system that checks applicants’ work against other published writing so please DO NOT PLAGIARISE.

Statistics with Finance Personal Statement

Chin Hua Jun is currently a first year undergraduate pursuing BSc in Statistics with Finance at the London School of Economics and Political Science (LSE). This personal statement was part of his successful admission to the LSE for Statistics with Finance, Imperial College London for Mathematics with Statistics for Finance, King’s College London (KCL) for Mathematics with Management and Finance, University College London (UCL) for Statistics, Economics and Finance, and University of Warwick for Mathematics, Operational Research, Statistics and Economics.

The financial aspect of football such as transfer fees and player wages has always intrigued me as a fan. Browsing through the financial reports of clubs, I gained a greater understanding of how they operate especially with record earnings from broadcast and sponsorship deals. It was surprising to find out that player wages take up to 70% of revenue; I feel this model is unsustainable in the long run. Through my personal research, I learnt how inflation in football differs from actual inflation and how transfer fees have grown at a faster rate compared to the price rise of general goods. My interest was piqued by UEFA’s introduction of Financial Fair Play Regulations to improve the financial health of European club football. Reading into these regulations, I identified several flaws in the system such as tying expenditure to revenue which creates a widening wealth gap between smaller and globally established clubs. The techniques utilised by football clubs to adhere to these rules such as amortisation of transfer fees has also impressed me. The complex financial background of football has compelled me to gain a deeper understanding of the theoretical and practical aspects of finance.

My love for statistics started by reading about counter-intuitive probability puzzles such as the Monty Hall and Birthday Problems and stories like Galton’s usage of a bean machine to show the normal distribution. This was further developed by my interest in sports where the usage of statistics is essential to modern analysis. I am enthralled by the skillful manipulation of simple data to form meaningful statistics. These data are used by a wide range of people, regardless of statistical knowledge, which showed me how simple yet versatile statistics can be. The documentary “The Joy of Stats” enlightened me about its history, application, and role in various fields ranging from astronomy to health. The use of probability theory in finance and economics has drawn my interest as it is integral in intricate processes like calculating risk or cost-benefit analysis. Quantitative representations of abstract ideas appeals to me as it provides a clear and objective view. I hope to expand my ability and interest in statistics to effectively and precisely apply it in the field of finance.

As a child, I attended Olympiad Mathematics classes weekly which sparked my interest in Mathematics from young. I furthered this interest by independently solving mathematical puzzles through creative methods; this taught me to combine logical reasoning and analytical skills to solve problems. In Economics, I enjoy studying about foreign exchange and inflation as they are seen on a global level. The interconnectivity of all the topics has trained me to think on a larger scale by considering their relationships. Physics has helped me master applying learned concepts to solve problems. In these subjects, I constantly use graphs and quantitative methods to prove my findings. Hence, I developed a curious and inquisitive mind that emphasizes understanding ideas and causes before proceeding.

As a member of St John Ambulance Malaysia, I was involved in their fundraising events for multiple years; this educated me on the finances behind NGOs and the struggles they face. Leading my division to collecting the second highest amount of funds despite having less members shows my ability to work with limited resources. In total, I have amassed around 150 hours of public duty service in which I voluntarily rendered first aid assistance at events where I had to think on my feet to treat casualties. As Vice President of my division and a qualified first aider, I devoted time to teaching my juniors first aid which has fostered my leadership and patience. Being a member of this global organisation has helped me mature into a more selfless person.

The world of finance is an exciting field of boundless possibilities and I hope to start off my journey with an education from a top university.

DISCLAIMER: The personal statements on this site are strictly meant as a starting point to give an idea of how successful personal statements look like. There is no surefire formula to writing good personal statements. COLLEGELAH IS STRICTLY AGAINST PLAGIARISM OF ANY KINDUCAS employs a plagiarism check system that checks applicants’ work against other published writing so please DO NOT PLAGIARISE.

Accounting and Finance Personal Statement 2

This personal statement is part of this student’s successful admission to the London School of Economics and Political Science (LSE), University of Bath, University of Warwick, University of Lancaster and University of Leeds.

It was thanks to a history documentary which sparked my interest in accounting and finance. Watching the Great Depression intrigued and encouraged me to explore the workings of the financial world especially the regulation aspects. It genuinely fascinated me as to how a simple act of buying on the margin could have the potential to plunge some of the world’s leading economies into deep recession culminating in the rise of political extremists such as Adolf Hitler. My marvel at the significance of financial malpractices inspired me to pursue a career in accounting and finance specialised in banking. I wish to participate in the development of an effective surveillance framework to ensure the safety and soundness of financial institutions. Hence, I decided to apply for my country’s central bank scholarship which I believe is the stepping stone in realising my dream. To prepare myself better, I chose to study a Business elective in high school and deepened my research on the roles of central banks. I also sharpened my knowledge and soft skills by entering debating competitions. All my efforts paid off as I was successful in my endeavour. Now, I am halfway towards achieving my aspiration.

To improve my understanding further, I read “The Alchemists”. This highlighted cheap and easily accessible credits as the culprit of most banking failures and economic recessions. Cheap credits provided by Stockholms Banco created the first recession in history and this was repeated in 2007 when subprime mortgages led to the credit crunch. These financial malpractices necessitate and justify the roles of central banks, not only as a regulatory body, but also as a lender of last resort. The fact that the latter was a role which was already conceived by Bagehot in the nineteenth century known as “Bagehot’s Dictum”, only emphasises the importance of a central bank in maintaining the stability and sustainability of a country’s economy. This interests me greatly. The book showed me that the financial world is a dynamic and constantly evolving entity and in order to reinforce my understanding of it, a degree in accounting and finance is essential.

Taking up Accounting and Economics in A-level helped to widen and deepen my knowledge in the subject area which I gained during high school. For example, Accounting exposed me to how a company can improve its performance through capital reconstruction, even in the event of making continuous losses. Learning the theory of the firm helped make sense of economic crises whereby financial institutions resort to providing substandard loans in order to gain supernormal profits. Mathematics also benefitted my studies by improving my accuracy and in interpreting graphs through statistics. Being my school’s MENSA treasurer also gave me the opportunity to apply some basic accounting principles into managing the club’s funds. I hope that the knowledge I gained will better equip me for my university education.

My determination to become an accountant spurred me to cultivate important traits associated with it. My involvement in the Duke of Edinburgh Gold Medal Award helped to mould me into a holistic individual and provided me with the opportunity to serve the community. The most memorable experience throughout this programme was my involvement in an English Proficiency Camp whereby I had the chance to teach rural school children English through a variety of interesting modules prepared by students from my high school. Interacting with the participants of the Camp was both an eye-opening and humbling experience as I witnessed their eagerness to learn, their enthusiasm to contribute in team activities and their willingness to make mistakes. Their desire for knowledge fuelled my determination to learn more about my field of choice.

I would very much appreciate the opportunity of reading Accounting and Finance at university in order to contribute better as an aspiring accountant in my country’s central bank.

DISCLAIMER: The personal statements on this site are strictly meant as a starting point to give an idea of how successful personal statements look like. There is no surefire formula to writing good personal statements. COLLEGELAH IS STRICTLY AGAINST PLAGIARISM OF ANY KINDUCAS employs a plagiarism check system that checks applicants’ work against other published writing so please DO NOT PLAGIARISE.

Accounting and Finance Personal Statement

Nur Izzat Aiman is currently a first year undergraduate reading BSc in Accounting and Finance at the London School of Economics and Political Science. This personal statement is part of his successful application to the LSE, City University London, University of Bath, University of Warwick and University of Liverpool for Accounting and Finance.

Would you fix a leaking faucet? One might look at it and see just water. But if this hypothetical tap were a company, then water would be a resource, and the leak a loss in revenue. Would you fix it now? I see life as a business and all our actions as investments, with the sole purpose of maximising utility. If the world were a skyscraper, finance would be its foundation and accounting would be the blueprint to its inner workings. This mindset, coupled with my love for mathematics and the desire to further understand this ever-evolving field is why I choose to pursue a degree in Accounting and Finance.

Being a practical individual, I am captivated by the dynamic world of accounting and finance, especially in the field of managerial accounting. One managerial concept that fascinates me is the Six Sigma, a set of techniques that teaches that effectiveness does not rely on the extent of our resources, but how we utilise them to improve efficiency. This philosophy has assisted me in allocating time for my academic and extracurricular life. I had the privilege of participating in a case study competition on banking and finance judged by a partner from Ernst and Young. By applying knowledge from A-Levels Accounting and Economics, I used concepts like ratio comparisons to engage in a healthy discussion with my teammates on mergers and acquisitions to prepare for our presentation. When we were announced champions, I knew where my passion lay, catalysing my pursuit of a career as a professional accountant.

In the past, I kept up-to-date with global financial and economic news to engage my father during our Sunday golf trips. While initially more interested in the golf than the discussion, it was the issue of Ukraine’s accession into the European Union that turned this weekly chore into a steady passion. In my opinion, the decision to allow Ukraine into the EU is comparable to making an investment. The policymakers in this situation play the role of the stakeholders, speculating whether this investment will pay itself back in the long run, all while factoring in the risk of being sanctioned by Russia. I am enthralled by how financiers place a value on an investment and how they tell wise and foolish investments apart. My pursuit of this knowledge has led me to read financial publications such as The Economist, online articles, and books written by the likes of Graham and Malkiel. However, I find that the more I learn, the more I realise that there is an abundance of knowledge of which I have yet to acquire.

On an extracurricular level, I have participated in a variety of clubs, particularly the Young Enterprise Programme where I was elected to serve as the Managing Director. Here, I learned valuable lessons in the running of a successful enterprise and had the opportunity to broaden the extent of my knowledge of the business world. As part of the English Debate Team, I played the role of the third speaker, or ‘whip’. Though it required that I pay extra attention to the opponent to form a strong rebuttal, our efforts nevertheless propelled us to the runner-up position of the state finals. Debate has ultimately strengthened my communication skills, my critical thinking skills and my rhetoric which I believe are essential to a student of Accounting and Finance. Above all, I believe my experiences as a head prefect and the elected president of my college’s Model United Nations Club were the most valuable, as both have prepared me with the necessary management skills needed for this course.

Not many are passionate or even interested to learn the language of business, but I am here to master it, to equip myself with the education that this university has to offer and to turn my lifelong passion into a core aspect of my being. I am eager to prove myself worthy of the knowledge that your university provides her students with to face the real world.

DISCLAIMER: The personal statements on this site are strictly meant as a starting point to give an idea of how successful personal statements look like. There is no surefire formula to writing good personal statements. COLLEGELAH IS STRICTLY AGAINST PLAGIARISM OF ANY KINDUCAS employs a plagiarism check system that checks applicants’ work against other published writing so please DO NOT PLAGIARISE.