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My Interest in Financial Management and Accounting

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With my infatuation of money, the exhilarating rush of exercising my brain and the intricacy of analyzing a scenario; Accounting is the source of my mental enjoyment. Accounting is the foundation of all businesses, specifically larger businesses; without it every market place would be in a mess. This responsibility will give me the gratification of significance; which is a huge factor in my career choice. My desire to reason allows me to understand most situations I encounter. The satisfaction of analyzing and working my way towards an answer, gives me a unique fulfillment that I have yet to experience with anything else. It’s not a common ‘go to’ for enjoyment, yet accounting allows me to exercise my mental strength and drives me to use many different skills on the various scenarios you would encounter as an accountant. As a person I am quite general with my interests; for example in school, rather than only having an interest in a select few subjects, I enjoyed aspects of every single subject. I’ve experimented with many different subjects and after spending a year doing accounting I have discovered it contains all of those aspects from various subjects and branched them into one tree. Thus leading to my conclusion that Accounting is my forte.

For a year I took AS maths. This taught me the mathematical implications and skills to solve the complex mathematical based questions that came up in other subjects. Maths at a deeper level entertains the technique of chaining together smaller pieces of information and digging out the answer. I am currently studying Economics, Business and Accounting and each subject does require many calculations and involves many formulas. This is beneficial for me as all the practice accumulates and contributes to my ability to do Accounting questions. Furthermore, business significantly aids in backing up my knowledge for Accounting. For example ratios like capital employed. As accounting requires writing reports and written analysis, my experience with writing long answer questions in my 3 subjects has prepared me sufficiently to do this. Economics and Business don’t just consider the financial side of things, but also the theoretical side. Being able to accumulate all of this information and structure it while advice and predictions are embedded in the reports gives me a strong base to work with on the real world. Taking part in the Micro-tyco challenge in last year was the perfect opportunity to test out my abilities relating to financial handling and decision making. Starting off with only £1, we had to plan out the best way to invest this to maximize returns. We had to budget, with our different ventures in mind, producing accurate figures for income/expenses. The entire experience left me without boredom; making me realize working in the finance sector is for me.

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Another similar activity took place on NCS, during the community project. I was team leader and our task was to raise money through various ways in order to fund our project idea. Forecasting and budgeting the costs and income that would arise as a result of the various fund-raisers was a vital part of the task and I found that to be the most intriguing activity the whole time. Although our idea came second place, our records were perfect and we were praised for this by the investors; that praise was what sparked an early interest in Financial Management. During my part-time work at a restaurant I was exposed first hand to the incomes and expenditures of a business. From how customer interaction influences sales to the cost of wasted stock. The experience I earned from working there was a major insight and influence for me as it taught me many things of the running of a business. It also deepened my fascination with Financial Management and Accounting.

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