My Desire To Study A Finance Related Degree At University
Undertaking an invaluable work experience placement at Chartered Accountant UHY Hacker Young ignited my desire to study a finance related degree at university. The opportunity gave me an insight into the different aspects of the field. For example, I discovered I was especially interested in auditing which involved helping in a client audit by using a web program (Audit Automation) allowing me to experience the technological aspect of the business. To gain further experience, I carried out a work placement at a mobile distributor where I gained operational knowledge of their decision-making process and their strategic business outlook. Studying A-level Mathematics has developed my logical thinking in order to methodically solve complex problems, combining this with Economics has enhanced my analytical and quantitative skills. The human aspect of my Geography course has given me a global context to different economic events. Basing my coursework on inequality and development compelled me to explore the links between Geography, Economics, and Accounting. Interviews and discussions helped form my opinion on the necessity of a robust accountancy profession to drive developing economies by providing the essential role of helping companies attract investment and credit, inevitably reducing the gap between rich and poor.
‘Bean Counters’ by Richard Brooks explores the success of the so-called Big Four accounting and audit firms. Reading this highlighted the importance of financial statements in the governance of the world’s largest public companies to value firms and evaluate executives. Brooks suggested an interesting viewpoint on the negative effect that the Big Four have had on the economy, hinting that they may be responsible for the world no longer being safe from illegal methods of accounting such as fraud. I find topics such as these intriguing and wish to develop my understanding of concepts used in economic discussions further at university.
As a keen reader of the Financial Times, I found a profoundly interesting article by Tim Harford on “the progressive case for holding auctions for everything”. What fascinated me most are the implications that auctioning would have on an individuals’ personal finances in addition to the impact on businesses. For example, whether firms would profit maximize if items were auctioned (as opposed to being sold at a set price) and how this would subsequently change their strategies and management. Having thoroughly enjoyed attending the IEA Think Conference, listening to Harford, along with other professors of finance broadened my horizons on the topic. Attending encouraged me to write a finance based extended school research project on Zimbabwe’s land reform and the implications that it had on the economy, along with the effect that hyperinflation had on the country’s financial stability – especially the effect on its currency. After conducting my research on the project, I concluded that it was ultimately the ill thought out and poorly executed land reform under Mugabe’s government which caused the demise of the economy. Writing this project developed my analytical research and referencing skills, focused my time management and solidified the importance of meeting deadlines.
Music has always been a large part of my life, playing the violin and sitar as an honorary member of the school orchestra and concerts both in and outside of school, taught me listening skills as well as giving me an outlet to channel my creativity and confidence.
I have thoroughly enjoyed my time as a member of the school basketball team which has allowed me to build upon my teamwork and communication skills.
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