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Sample Personal Statement Accounting and Finance

university personal statement accounting and finance

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

In personal statement samples by field.

The following personal statement is written by an applicant who got accepted to several top accounting and finance programs. Variations of this PS got accepted at the University of Michigan, Vanderbilt, and Indiana University. Read this personal statement to understand what a top essay in Accounting and Finance should look like.

Example Personal Statement Accounting and Finance

I have never made popular choices, whether academic or professional. Where high academic achievement irrefutably means pursuing a career in Medicine or STEM, I opted for a career in management. I was free to choose a path for myself, owing to my performance during an extensive pre-induction professional training program. Fortunately, I picked a path that everyone believed was insignificant.

My decision to move to a new city to pursue my path did not receive encouragement. Making my own decisions has given me the freedom to dream and make it a reality. It has strengthened my belief that I am the only one who can bring a difference for myself and those around me. Brazil’s institutions may seem frozen, yet, at the grassroots, Brazil is in perpetual motion with ceaseless creativity. To accelerate this motion, we need to bring better and more affordable solutions; I plan to do that.

Growing up in Brazil, I have constantly questioned why we are still not growing economically despite having abundant resources. I frequently discussed the economic factors affecting us with my father, leading me to work at local NGOs and attend voluntary programs. My interest intensified when I discovered during these experiences that the unequal distribution of resources was a major cause of our economic constriction.

Moreover, our medical, engineering and academic professionals would not work in rural areas due to a lack of facilities, further debilitating the imbalance. It made me realize that we could only reap the benefits of our efforts if there were a proportionate distribution of resources. Realizing how effective mobilization of resources can aid in eradicating social ills, I developed an interest in management. This equipped me with technical knowledge and provided room for opinion building.

Pursuing this path, I joined the leading undergraduate institution in the country. The zeal with which I made this decision led me to graduate summa cum laude. While studying, I taught communication skills to undergraduate business students from rural areas. Meeting these students compelled me to get involved even though I lacked formal teaching training. Through empathy and friendly get-togethers, I was able to help these students conveniently traverse in English. With this experience, I understood that my time and energy had been well spent and that as an agent of change, one does not necessarily need to be exceptional; instead, one requires creativity, patience, and emotional intelligence.

After graduation, I followed through with my goal of facilitating change by joining the banking sector as an accounting and finance trainee. By working in Brazil’s most vital financial sector, I was exposed to diversified experiences, from being as simple as issuing customer chequebooks to designing accounting and credit proposals to the tune of USD 1.2 billion. Furthermore, while working on individual projects, I developed an in-depth understanding of international accounting rules that regulated trade transactions; the learning opportunities were immense.

Two and a half years of experience in the finance sector brought me to work for the country’s central bank. The anxiety that accompanied moving away from home for the first time was overwhelmed by my professional and personal growth. Nine months of extensive training and on-the-job assignments exposed me to interminable learning opportunities. However, my real gain has been in the form of self-improvement and growth that accompanied my first experience living independently. Leaving the protective living that I enjoyed with my family is challenging, but it has developed and strengthened my capabilities of taking and owning my decisions. Above all, knowing that my family is not always around to guide me has instilled in me a greater sense of responsibility.

During the two a half years of experience in accounting and finance, I observed the financial exclusion experienced by some important yet financially constrained sectors of the economy. This exposure motivated me to join the Development Finance Department upon my appointment to the country’s central bank. Moreover, most of the firms operating in any country of the world are either small or medium enterprises. Thus, providing an enabling environment to such enterprises is significant for economic growth and employment generation.

In Brazil also, 90 percent of the enterprises are small and medium-sized, and lack of access to formal sources of finance is a significant impediment to these enterprises’ growth. Therefore, a huge room for improvement is available concerning the development of policy framework and market infrastructure for the financial inclusion of this sector. As a part of the central bank, I have been allowed to intervene in a system that is not effectively performing its role of financial intermediation. Innovation in financial products, development of accounting and risk mitigation strategies are requirements to alleviate this segment’s financial exclusion.

By broadening my exposure and enhancing my knowledge, I aim to equip myself better to address the shortcomings of one of the critical segments of the economy.

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Dr Fatimah Zainudin from the University of Southampton’s management school is looking for 'the "chemistry" that makes an applicant shine out,’ so try and demonstrate your enthusiasm about the course and the buzz you'll get from studying it.

'What we love to see is a passion for the subject itself. If you fall in love with the subject, that’s what will lead to success on the course; it will give you the right chemistry,' she says.

Demonstrate your enthusiasm

If you can demonstrate what's sparked your interest in finance and accounting, that's a good start – but it’s no good just saying you’ve got a passion for it, you have to show it.

If you’re not the kind of person who gets very passionate about things, don’t worry. But do still try to explain what it is that attracts you to studying it. Then back it up with evidence of your relevant skills, knowledge or experiences and show that you understand something about what’s involved. That should solve it.

See our in-depth guides to studying finance or accounting at university, from typical modules to career paths, for some inspiration.

Finance and accounting personal statement must-haves

  • Get the basics right: good communication skills are essential to anyone working in the finance sector, so make sure your statement is well-written. Nobody is asking for a literary masterpiece here, just a well-structured and waffle- and error-free statement.
  • Interest in the subject: Sheffield Hallam University is looking for you to demonstrate 'an interest in and awareness of accounting and finance, or some level of practical experience.' Similarly, Bristol is looking for 'interest and commitment to the subject.' This means conveying enthusiasm for studying it and showing that you understand something about it, whether that comes from reading, work experience, or studying relevant topics in your A level, BTEC, or Higher course.
  • Business awareness: University of Bath selectors are expecting students to have an interest and aptitude for 'quantitative analysis of business issues.' Demonstrate this with evidence that shows your abilities for applying mathematical skills to the analysis of business problems.
  • Beyond the classroom: The University of Bristol is looking for 'intellectual curiosity – reading or research beyond the A level (or equivalent) syllabus.’ This is always good practice in personal statements, provided you then reflect on what you learned from your wider reading or research – they don’t just want a list.
  • Relevant outside interests: if you choose to include extra-curricular activities, make sure they are relevant or showcase appropriate personal characteristics, skills, or achievements. Apply the 'so what?' test: if you play the flute or basketball, can you make that relevant to your future success at university, or should other factors take priority in your 47 lines?

Make the most of any experience

If you’ve had some work experience , that’s great. It doesn’t matter whether it’s a couple of weeks spent shadowing an accountant, a couple of hours just talking to one, a part-time job in a financial, retail, or business environment, or a scheme like Young Enterprise. What does matter is that you write about something relevant that you have learned from it. But, as Sheffield Hallam and LSE say on their websites, experience is not essential, so don’t panic if you don’t have any.

Your commitment to studying accounting or finance as an academic subject is usually the key requirement. However, if you can also show that extra ingredient of passion and a glimpse of the ‘chemistry’ that exists between you and the subject, then your application really will stand out.

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Accounting and Finance Personal Statement Example

Sample statement.

No one who has watched the news or read the newspapers over the last few years can doubt the importance of finance in the modern world. Since the economic crash of 2008, the economies of Britain, Europe and the wider world have been headline news, and the affects have been keenly felt by each and every one of us. I want to study finance at university not only to allow me to understand what is happening, but also to influence these events for the better.

With my parents running a long-standing family business, accounts and finance have been a large part of my life for as long as I can remember. My father has always involved us in the running of the business, explaining his decisions so that we could support him and know what was going on. However, it has been really difficult to watch as events way beyond his area of business, have caused his company to struggle, despite the hard work and dedication of him and his staff.

I have steered my studies towards the ecomomic subjects so that I can gain a better understanding of the wider picture and how this has affected my family business. I have studied maths and business studies, along with geography to give me a worldwide context for these events. As I have got older, I have also become more involved in the details of the company’s finances, gaining an in depth understanding of the mechanics of running a small business.

While I will ultimately inherit the family business from my father, I aim to spend the intervening time gaining as much experience in the wider world of finance and accounting as I can, in order to bring fresh perspectives to the way things are done. I believe the best first step on this road is to study finance and accounting at university, so that I can apply the very best practice to the business.

I am a subscriber to The Economist and regular reader of the Financial Times, which help by giving me different views and opinions on the key issues of the day. I am also a keen member of the school debating society, and enjoy being given a point of view to defend, especially if it is one that I do not personally agree with. I have even considered a career in law as a result of this, but I feel that finance and the economy are in my blood as part of my upbringing.

Of course, life is not all work, and I enjoy hill walking with my friends as well as playing for the school rugby and cricket teams. I was also part of a school project to build and race a go-cart, and was one of just a handful of people who stuck with the project to the end. This experience of working in a close-knit team was a valuable time for me and one that I will treasure, along with the second place trophy that we worked so hard for.

I believe that university life will be an education for me, not only academically, but also in a social and interpersonal way. The experience will prepare me for the working world and ultimately make me a worthy successor to my father as head of the family business. 

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  • Accounting personal statements

Accounting and finance degree personal statement example (1f) Northampton applicant

This is a real personal statement written by a student for their university application. It might help you decide what to include in your own. There are lots more examples in our . 

After studying Manual Book-keeping as an evening course alongside my AS levels, I decided that accountancy was something that I would like to study at a higher level. I quite rapidly gained a strong understanding, which encouraged me to book a SAGE course and led me to where I am today. I currently volunteer as an accounts assistant for a small charity in Milton Keynes, which requires me to use SAGE and Excel knowledge to carry out weekly and monthly tasks. This has provided me with a lot of valuable firsthand experience, including preparing reports and checking & inputting data, and has given me an insight into the world of accounting. I am responsible for inputting paid invoices onto SAGE, reconciling weekly Paypal banking statements, collating purchase invoices, preparing relevant BACS payment forms and assisting with the monthly printing of debtors statements.

Accountancy appeals to me because I get satisfaction out of being able to manipulate numbers and figures to balance and add up. I like the feeling of knowing that I have been able to make the numbers work with each other and create a solution which a lot of people find impossible to see. As a perfectionist, I find the numerical challenge of accountancy it's biggest pull which draws me into applying for the degree.

I also work part time at Waitrose as a member of the checkouts and trolley staff. I get great fulfilment out of my job along with being able to work with a variety of different people. As we are all partners of the company we are all kept aware of how the store is doing financially throughout the year, along with expected targets and actual figures. As a cashier I have been introduced to the security measures that the money goes through before it is processed, as well as money handling procedures.

While at school, I was actively involved with a lot of student voice activities, including peer-to-peer mentoring and interviewing teachers as part of a student board. I also helped to set up and run student teaching and learning groups, whereby groups of students would assess teachers' lessons and then give constructive feedback as to how they could improve their lessons to suit a range of children. With this group we went out to other schools to demonstrate how they could introduce the system into their schools, including presentations to teaching staff, governors and members of the educational council. With my participation in these activities I learnt to work in a team and solve conflicts. These skills have been useful to me in the workplace and will continue to be helpful throughout my further career.

I participated in the Duke of Edinburgh's Award Scheme, completing it up to Bronze level and gaining from it teamwork skills and an increased knowledge of map reading and navigation systems. Since passing my driving test I have been able to continue playing the flute within an orchestra setting which previously had been inaccessible to me due to transport reasons. I am also taking part in an event which requires participants to write a 50,000 word novel within a month, and currently have 11,000 words. I have also helped out at a local festival, Musik4u, as one of the backstage managers. It was my responsibility to ensure the bands were ready to go on and off the stage, and to keep the running of that particular stage going throughout the day ready to hand over to the team in the evening. This lead to the helping out at TogFest, another local music festival, which ran over two days, where my responsibilities included the transporting of equipment, providing customer service to the bands, providing some basic crowd control and ensuring there were no fires being lit on site, especially overnight.

I am confident that my previous experiences can help me to succeed in my accounting career, and I believe that university will be the most successful route for me.

Universities Applied to:

  • Northampton
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Accounting and Finance Personal Statement (Anonymous 1)

This personal statement was part of this student’s successful application to LSE, University of Bath, University of Warwick  and Loughborough University for Accounting and Finance.

Did fair value accounting trigger the financial crisis, as Steve Forbes suggests? Or was it merely a catalyst in the catastrophe, as some assert? Does a laissez-faire economic system instil trust in stakeholders, or does it make them overconfident about their companies? I have not found convincing answers to these questions, hence my ambition to study the intricacies and complexities of the world of Accounting and Finance at university. 

To develop a deeper understanding on the significance of accounting in the 2008 Financial Crisis, I read the National Bureau of Economic Research working paper series. I agree that we cannot pinpoint fair value as the cause of the crisis, though it is imperative to impose stricter regulations on it; Frequent and accurate financial reporting would leave less room for manipulation. If banks were compelled to write down the value of assets as losses occur, it would ultimately alleviate the severity of the crisis. Thus we could shrink the bubble before it pops. If the crisis has taught us anything, it is to be prudent with leverage. Liabilities must have a limit.

In hindsight, we were unable to recognise the warning signals. The financial reports had portrayed the financial health of the economy, but we did not scrutinise them and possibly mitigate the impact it had. The numbers on the accounts seemed clear and unequivocal, yet we struggled to fully understand them. I embrace the challenge to achieve better understanding. Accounting is the fundamental language of the financial world, thus my wish to master it through a professional ICAEW qualification. Achieving the best Accounting result in secondary school initiated my interest in this subject. Knowing that the knowledge I obtained could be applied to studying a company’s financial performance, I was inspired to study this subject more comprehensively. Luca Pacioli’s systematic approach in recording transactions has revolutionised the financial world, and I wish to be part of this movement.

As a result of the crisis, I am determined to understand why companies close down on a micro level. Hence, I interned at CRS Advisory, a financial advisory firm that focuses on liquidation cases and constructing recovery schemes for companies in diverse fields. I was privileged to witness the administration process, and I took part in reviewing the financial documents of these companies. From this experience, I have learnt that liabilities should not be abused, and I realised how this was essentially the root to the financial crisis. Together with my team, we constructed recovery schemes for our clients, hoping that we could turn the business around before it goes into liquidation. Working in a close-knit team gave me an insight into how important teamwork is in the corporate world.  

Alongside being an interactive team member, I have developed my leadership capabilities through my experience of captaining my school’s volleyball team. Growing up under a Chinese educational system, I was inculcated with its traditional assiduous work ethic. Having transferred into an international school later on, I employ this attitude in everything I do, striving to always achieve my best. Being the Treasurer of the Interact Club has given me invaluable experience in controlling the cash-flow of the club. At the same time, I have learnt to uphold the values of integrity, a trait that is sacrosanct in the financial world. Looking back at the root of the crisis, if people had adhered to this value, the catastrophe would have been averted. Because of our greed, we often forget that integrity is the fundamental building block of the corporate world.  

With the rise of Asia as an unprecedented economic powerhouse, the pursuit of financial literacy is more crucial than ever. Always ready to step out of my comfort zone and show my adaptability, I am eager to experience new cultures in the UK. I am grateful for the little I know, and for how much there is yet to learn. 

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 KIND .  UCAS employs a plagiarism check system  that checks applicants’ work against other published writing so please  DO NOT PLAGIARISE.

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What Can I Do with a Bachelor's in Accounting?

By Robbie Gould on 08/08/2024

An accounting student looks into the options for a career

If you're contemplating whether a bachelor's degree in accounting will offer better long-term prospects than an associate degree, you're considering a pivotal decision for your future.

Both degrees potentially serve as valuable and effective pathways to opportunities in the financial sector. An associate degree offers a solid foundation, preparing you for entry-level roles and providing practical skills that are immediately applicable in the workforce.

On the other hand, a bachelor's degree builds on that foundation, offering a deeper understanding and a broader scope of opportunities for specialization.

Graduating with a bachelor's degree from an accounting program could open exciting and challenging career opportunities. This degree equips you with the knowledge and skills needed for various roles within the financial sector. Below are some of the key positions an accounting major could pursue with a bachelor’s degree in accounting.

Rasmussen University’s Accounting Certificate, Accounting Associate’s degree and Accounting Bachelor’s degree programs are not designed to prepare graduates for any state-issued professional license or certification. Rasmussen University’s Accounting Associate’s degree and Accounting Bachelor’s degree programs do not meet all educational prerequisites for licensure as a Certified Public Accountant (CPA) in any state. For further information on professional licensing requirements, please contact the appropriate board or agency in your state of residence.

1. Financial Analyst

Financial analysts evaluate financial data, prepare reports, and develop investment strategies. They work with organizations to analyze financial performance, project future revenues and expenses, and advise on budgeting and investment decisions.

Their role is crucial in helping businesses make informed financial decisions and optimize their financial operations.

This position may require additional or different education beyond an Accounting Bachelor’s degree, additional work experience or certification.

Auditors examine and verify financial statements and records to ensure accuracy and compliance with laws and regulations. They can work internally within a company or externally for auditing firms.

Auditors identify financial discrepancies, assess risk management processes, and provide recommendations to improve financial accuracy.

3. Tax Accountant

Tax accountants focus on managing and preparing tax filings for both individuals and businesses. They ensure that their clients adhere to all relevant tax laws, while also identifying potential tax-saving strategies.

Their role involves staying informed about the latest tax regulations to offer accurate and timely advice. By leveraging their expertise, tax accountants help clients reduce their tax obligations and effectively plan for future financial decisions, ensuring compliance and maximizing financial benefits.

4. Management Accountant

Management accountants, sometimes called cost accountants, specialize in overseeing and improving internal financial processes. They play a key role in helping management make informed strategic decisions by analyzing financial data, preparing budgets, and controlling costs.

Their work includes evaluating financial performance and providing insights that are crucial for enhancing operational efficiency and supporting long-term business planning. Management accountants ensure that financial resources are used effectively to meet the organization’s objectives.

5. Forensic Accounting

Forensic accountants specialize in uncovering financial discrepancies and fraud through detailed examination of financial records and transactions. Combining expertise in accounting, auditing, and investigative techniques, they meticulously analyze data to identify irregularities and fraudulent activities.

These professionals often collaborate with law enforcement agencies or legal teams, playing a crucial role in litigation support. Their findings are instrumental in uncovering financial crimes, and they frequently provide expert testimony in court, offering critical evidence and insights that aid in legal proceedings. Forensic accountants help ensure financial transparency and accountability, making them invaluable in the fight against financial misconduct.

6. Corporate Controller

Corporate controllers are responsible for managing a company’s accounting operations. Their duties include preparing financial reports, maintaining accurate accounting records, and implementing robust internal controls.

They ensure that financial statements are accurate and comply with regulations, while also overseeing the management of financial resources. Corporate controllers are important to financial planning and strategy development, providing insights and direction that help shape the company’s financial future.

7. Budget Analyst

Budget analysts play an essential role in helping organizations manage their finances effectively. They are responsible for creating detailed budget reports, meticulously monitoring spending, and recommending necessary adjustments to ensure that financial targets are achieved. By thoroughly analyzing budget proposals and assessing the financial needs of the organization, budget analysts identify areas where costs can be reduced and resources can be allocated more efficiently.

Their expertise ensures that the organization's financial resources are utilized optimally, supporting both short-term and long-term financial goals.

8. Financial Manager

Financial managers lead teams of financial professionals, guiding them in executing the organization’s financial plans. They make high-level financial decisions, ensuring that all financial activities align with the organization’s objectives and regulatory requirements.

Handling sensitive financial documents and financial reporting make discretion and integrity important in this role.

By balancing risk and profitability, financial managers steer the organization toward long-term financial success and stability. Their strategic insight and leadership are indispensable for navigating financial challenges and capitalizing on opportunities for growth.

9. Internal Auditor

Internal auditors work within an organization to assess the effectiveness of internal controls, risk management processes, and governance. They conduct audits to ensure compliance with policies, identify areas for improvement, and recommend corrective actions. Internal auditors help to enhance operational efficiency and safeguard organizational assets.

What’s the difference between Associate and Bachelor’s degrees in Accounting?

When deciding your career path, it is crucial to understand the differences between an associate degree and a bachelor’s degree in accounting.

An Associate degree in Accounting

Think of an associate degree as the first step. It typically takes about two years to complete and gives you a solid grounding in basic accounting principles, making it a great option if you want to enter the workforce quickly.

You’ll learn essential skills that prepare you for entry-level positions like a bookkeeper, accounting clerk, or payroll assistant. It’s practical, time-efficient, and can be a smart choice if you're eager to start working and earning sooner.

A Bachelor's degree in Accounting

A bachelor’s degree is more comprehensive and takes about four years to complete. These programs go beyond the basics, diving deeper into complex topics like financial analysis, auditing, and strategic management. With a bachelor’s degree, you’re not just limited to entry-level jobs. Accounting majors with a bachelor's have the potential to aim for more advanced positions such as a financial analyst, personal financial advisor, or even a managerial role.

Plus, it opens up opportunities to pursue a master's degree or professional certifications like Certified Management Accountant ® (CMA), which can enhance your professional credibility and expand your career opportunities.

Is a bachelor’s degree in accounting worth it?

Deciding whether an accounting degree is worth the investment of time, effort and money is a significant consideration. Here are some key points to help you evaluate the value of a degree in accounting:

Professional certifications

Depending upon the specific type of bachelor’s degree in accounting, you might be able to pursue professional certifications to enhance your career prospects. It is important to check the specific education and work experience requirements that are needed to sit for professional certifications.

Versatility and flexibility

An accounting degree provides a versatile skill set that is applicable across various sectors. Whether you choose to work in public accounting, corporate finance, government, or non-profit organizations, your skills will be in welcomed and leveraged. This flexibility allows you to explore different career paths and industries throughout your career.

Explore your options, weigh the benefits, and choose the path that aligns best with your professional ambitions by checking out Rasmussen’s Bachelor’s in Accounting Degree page .

Rasmussen University’s Accounting Certificate, Accounting Associate’s degree and Accounting Bachelor’s degree programs are not designed to prepare graduates for any state-issued professional license or certification. Rasmussen University’s Accounting Associate’s degree and Accounting Bachelor’s degree programs do not meet all educational prerequisites for licensure as a Certified Public Accountant (CPA) in any state. For further information on professional licensing requirements, please contact the appropriate board or agency in your state of residence

Certified Management Accountant® is a registered trademark of Institute of Certified Management Accountants

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About the author

Robbie Gould

Robbie is a content writer for Rasmussen University. He researches and writes on a variety of topics and is passionate about storytelling, learning and empowering the next generation of students.

Robbie Gould smiles at the camera with a blue light and a grass meadow behind him

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10 Jobs in Finance and Accounting to Consider

Two people in finance and accounting job roles, reviewing data on a computer.

Understanding the Numbers When reviewing job growth and salary information, it’s important to remember that actual numbers can vary due to many different factors — like years of experience in the role, industry of employment, geographic location, worker skill and economic conditions. Cited projections do not guarantee actual salary or job growth.

So, you’re thinking about a career in finance and accounting.

Nothing captures your attention like a problem that needs to be solved. Maybe you’re good with numbers and recalling rules — and you’re ready to dive head-first into spreadsheets and other documents. You can find a story behind every number, and maybe — just maybe — you’ve discovered that the secret to success is financial literacy.

If any of this sounds like you, there’s a wide range of jobs in finance and accounting for you to explore.

What is the Job of Finance and Accounting?

While there are many differences between finance and accounting , both business functions support the financial aspects of businesses and individuals.

Accountants, the U.S. Bureau of Labor Statistics ( BLS ) said, are primarily focused on preparing and reviewing financial records. Those in finance roles are often future-focused and involved in planning and decision-making, according to BLS.

The terms certainly aren’t interchangeable, but it’s possible to work alongside people with either background — or even both.

Dr. Bunney L. Schmidt, CPA, an accounting instructor at SNHU.

At Southern New Hampshire University (SNHU), for instance, you have three bachelor’s degree options if you want to study the subjects. You could earn a bachelor’s in accounting , a bachelor’s in finance  — or a combined bachelor’s in accounting and finance.

No matter which direction you take your career, no two days will be the same, according to Dr. Bunney L. Schmidt, CPA , an accounting instructor at Southern New Hampshire University (SNHU).  

“There are always things to research and to look closely at and investigate,” she said. “Finding problems and fixing them can be a very satisfying part of the job also.”

You can take a job in finance and accounting in many directions and support all kinds of industries, organizations and individuals.

What Are Some Careers in Finance?

Something Dr. George Mwangi, MBA, CPA, CFA, CMA , a finance instructor at SNHU, loves most about the finance field is its abundance of opportunities. For example, you could pursue roles such as: 

  • Billing clerk : As a billing clerk, you would oversee any and all data related to billing and prepare invoices, according to O*NET OnLine.
  • Financial advisor : Financial advisors counsel clients on their finances and plan for mortgages, investments, retirement — and everything in between, BLS said.  Learn how to become a financial advisor .
  • Financial analyst : Study trends and evaluate past and present data as a financial analyst to make investment recommendations for organizations and individuals, according to BLS. Discover how to become a financial analyst .
  • Personal banker : Also known as a new accounts clerk, personal bankers are relationship-builders at heart. According to O*NET, they assist people interested in opening financial accounts.
  • Risk analyst : Measure risks related to an organization’s financial success, from new legislation to environmental impact, market events and more, O*NET said.

But you can also explore accounting roles and management positions  with a degree in finance, according to Mwangi — or take the knowledge into other areas of business, like human resources or entrepreneurship.

Diana Thatcher, a finance adjunct instructor at SNHU

With so many roles available in finance , there is one shared mission. 

“The common overarching goals that financial professionals work towards are financial efficiency and stability for the organization,” said Diana Thatcher, MBA, MEd , a finance instructor at SNHU.

According to Thatcher, who has a wealth of experience in corporate finance and financial planning, maintaining organizational stability involves:

  • Mitigating risks
  • Ensuring compliance and ethics
  • Supporting economic growth

Find Your Program

What are the career opportunities in accounting.

With the help of a degree, you can find success in a range of accounting careers . You might consider job titles such as:

  • Bookkeeper : Maintain financial records, including transactions, debits and credits, and produce statements as a bookkeeper, according to BLS.  Learn more about what bookkeepers do .
  • Forensic accountant : Forensic accountants fight financial fraud by gathering evidence and testifying, as well as participating in fraud detection and prevention, according to O*NET. Find out how to become a forensic accountant .
  • Internal auditor: Focused on improving processes that impact finances, internal auditors verify that their organizations are correctly managing funds and risks, BLS said.
  • Management accountant: With a focus on management accounting, you could help businesses make educated decisions with accounting and finance in mind, according to BLS. Learn more about what management accounting is .
  • Public accountant : Sometimes certified, public accountants work with clients on a range of tasks, including accounting, auditing, tax and consulting, BLS said.  Explore  how to become an accountant .

With experience, Schmidt said you can also work toward leadership positions, such as controller or chief financial officer. 

No matter the role you pursue, you’ll be working toward a singular goal, according to Schmidt: accurate and transparent reporting.

How do I start a career in accounting?

Is Finance and Accounting a Good Degree?

An icon of a graduation cap.

Yes — a degree is often required if you want to work in finance and accounting, according to BLS. It’s important to research the career that interests you to determine the type of degree, specialization and/or certification can help you get there. 

For instance, you could earn an associate degree in finance  to prepare for entry-level roles, such as a billing clerk or personal banker, according to O*NET.

If you decide you like finance and want to advance in the field, you may choose to transfer your associate degree credits into a bachelor's  in finance program. When you earn your degree online, you’ll also have the flexibility to take your classes with you  — a big benefit of SNHU’s new online associate degree in finance, according to Mwangi. 

“Most adjuncts are also professionals in their fields, and this is helpful for the learners as they share real-life experiences with students,” he said. For instance, Mwangi has worked in finance for more than 20 years, bringing first-hand experience in banking, consulting, corporate debt financing and entrepreneurship into the classroom.

In addition to picking a degree level, you’ll have the opportunity to specialize in an area of your choice. Some degree concentrations in accounting and finance include: 

  • Corporate finance 
  • Financial planning 
  • Forensic accounting and fraud examination 
  • Investments 
  • Management accounting

If you’re not sure which program or career path is right for you, Schmidt, who specializes in taxes, recommends exploring your options through courses. “The only way I really knew was doing a little bit of everything, and then I found the right fit and never questioned it,” she said. 

It was through tax courses that she discovered her interest, and she said having a specialty allows her to focus on one area and do it well. “I'm a tax person, so I spend most of my time following what is happening (in) this area that will directly impact our bottom line,” Schmidt said.

An icon of a bar graph measuring three items.

Whichever direction you take your degree and career, know that the job outlook for the field is positive.* Business and financial jobs are expected to grow faster than the average for all occupations through 2032, with approximately 911,400 openings each year.* 

Job stability is another benefit of working in finance and accounting, according to both Thatcher and Schmidt.  

“Finance is an essential function in any economy, providing some level of stability and job security, and many financial roles that are less susceptible to economic downturns,” Thatcher said.

Even when the COVID-19 pandemic disrupted workforces worldwide, Schmidt felt stability in accounting and finance. “So many industries couldn't get by, but it barely impacted our profession at all,” she said. “(We) just had to get creative with tasks like audits.”

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About southern new hampshire university.

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SNHU is a nonprofit, accredited university with a mission to make high-quality education more accessible and affordable for everyone.

Founded in 1932, and online since 1995, we’ve helped countless students reach their goals with flexible, career-focused programs . Our 300-acre campus in Manchester, NH is home to over 3,000 students, and we serve over 135,000 students online. Visit our about SNHU  page to learn more about our mission, accreditations, leadership team, national recognitions and awards.

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Beginner’s Guide to Financial Statements

financial-statements

Whether you aspire to be an executive, an entrepreneur or an investor, it’s important to understand the basics of a financial statement. Financial statements offer crucial insights into a company’s financial health and serve as the basis for company-wide decisions.

As a project manager or executive, financial statements are the foundation for department budgets, operating activities, project budgets, and company goals and objectives. As an entrepreneur, they not only tell you where you are headed with your company, they can also help you sell your brand to potential investors.

This guide goes beyond the accounting statements’ definitions to explore various parts of these statements and what they mean.  

What are Financial Statements?

The simplest way to define financial statements is that they are reports which summarize the financial activities and accounting information of a business over a set period. 1 They allow for assessments of the probability that a company can generate cash, pay off its debts, and remain profitable over time.

Financial statements give you, as a business owner or executive-level employee, an idea of your company’s fiscal health and aid in decision-making. For example, if your company is currently experiencing high profits and steady cash flow, you might be more inclined to take a risk such as entering an untested market.  

Types of Financial Statements

A financial statement is not limited to a single type of report. There are multiple varieties, which offer different information about a company and how it handles its money.

Income Statement

An income statement details a company’s reported income over a specific period, such as a quarter or a fiscal year. 2 Each income statement will contain a headline indicating the period on which it is reporting. It will then outline:

  • Revenue: Income gained through regular operations such as sales of goods and services
  • Expenses: Regular costs a business must pay, including costs of goods, general and administrative costs, research and development and loan interest
  • Gains: Money made from atypical activities such as selling assets
  • Losses: Atypical costs such as lawsuit settlements

Balance Sheet

A balance sheet showcases a company’s total assets and how the company owns or has financed them. 3 Each balance sheet has sections showing the company’s assets, liabilities and shareholder’s equity—usually presented with assets on one side and liabilities and equity on the other. They are used to calculate financial ratios that give a glimpse into a company’s performance.

Cash Flow Statement

A cash flow statement is a summary of all cash moving into and out of a company. 4 It shows how a company is earning money, investing it and funding operations. It gives an idea of how well a company can meet its expenses.  

Statement of Shareholders’ Equity

Shareholders’ equity is what remains after subtracting liabilities from assets. This statement explains the account’s valuation to people who own company shares. 5 This financial statement goes in-depth to show how a company raises and distributes its capital.  

How to Read and Interpret Financial Statements

Let’s review the essential types of financial statements.

An income statement is also called a profit and loss statement. 6 It details revenues and expenses. Expenses include general costs and financing activities such as rent, operational costs and equipment leases.

Revenue refers to money made from selling goods or services. The profit and loss statement first lists total revenue and then deducts the cost of goods sold. Next, the sheet shows general expenses and deducts them from the gross profit. At the bottom, you will see a company’s net profit or net loss for the year.

A balance sheet goes into further detail about assets and liabilities. 7 Assets include cash, cash equivalents, property, equipment, investments and accounts receivable. Liabilities include accounts payable, taxes, debt and deferred revenue. Finally, the balance sheet contains information about shareholder equity.

At the top of each column, the balance sheet will tell how to read each figure. For example, some companies shorten figures by thousands or millions, so $650 could mean $650,000 or $6.5 million. Each column will tell how the company abbreviates its numbers, along with the period over which they were measured. Finally, a balance sheet typically compares multiple periods such as years or quarters, showing how the company’s performance has changed over time.

Cash flow statements are similar to income statements, but they only show how much cash a business has on hand. 8 It breaks cash flow into categories, including operating, investing and financing.

Each statement shows the change in cash flow and the total of cash a company has on hand. Cash flow statements often include projected cash flows compared to actual cash on hand, allowing a company to see if it is hitting its projections.

A statement of shareholders’ equity shows how much the company has left when its liabilities are paid. Companies usually pay a portion of their profits to owners and shareholders. When the shareholders’ equity is positive, the company can pay more to these investors. When it’s negative, it could signal impending financial issues.

Key Financial Ratios

The other financial data used in each financial statement allows you to calculate aspects of a company’s financial performance.

Profitability Ratios

These ratios, including gross margin and net profit margin, tell you how much the company has profited once it has covered its operational expenses and other expenses.

  • Gross profit margin reflects how much a company earns relative to its costs; 9 a high gross profit margin can indicate a company that is more efficiently operating its business
  • Net profit margin refers to the actual profit of a company after paying its expenses

Liquidity Ratios

Liquidity ratios can tell how well a company can pay its debts without raising more money. 10 Common liquidity ratios include the current ratio and the quick ratio.

  • Calculated by dividing current assets by current liabilities, the current ratio refers to a company’s ability to pay its current liabilities within the year
  • The quick ratio shows how a company can meet its short-term obligations; calculate it by adding cash, marketable securities and accounts receivable, then dividing the total by current liabilities

Solvency Ratios

Any company needs the cash flow to pay off its debts. The most common solvency ratio, the debt-to-equity ratio, is calculated by dividing the company’s liabilities by its shareholder equity.

Efficiency Ratio

To operate well, a company should be able to turn over its inventory and its accounts receivable quickly. Efficiency ratios will tell you about how long it takes companies to sell inventory and to collect on bills.

Common Mistakes to Avoid

Many common mistakes can affect financial statements. By definition, accounting statements require accurate record-keeping. An accountant may forget to log certain data into accounting books or might enter numbers incorrectly when calculating ratios.

Your best defense is to keep electronic records and use software that integrates with your accounting systems to automate financial statements and offer data visualizations that can signal you of potential errors.

Heighten and Hone Your Financial Expertise

As part of the online MBA program at Yeshiva University, you will explore the analysis of businesses in depth. Our faculty of business leaders not only explain financial statements, they share their expertise and experience in the industry with students. The online program allows you to advance your career and gain valuable connections, all while continuing to meet your non-academic obligations.

Join us to learn all about modern business leadership from innovative faculty and a close-knit student body. Take the first step by contacting an admissions outreach advisor today.

  • Retrieved on June 6, 2024 from accountingtools.com/articles/financial-statements
  • Retrieved on June 6, 2024 from investopedia.com/terms/i/incomestatement.asp
  • Retrieved on June 6, 2024 from corporatefinanceinstitute.com/resources/accounting/balance-sheet/
  • Retrieved on June 6 ,2024 from td.com/us/en/small-business/statement-of-cash-flow-definition-analysis-creation
  • Retrieved on June 6, 2024 from fe.training/free-resources/accounting/statement-of-shareholders-equity/
  • Retrieved on June 6, 2024 from bench.co/blog/accounting/how-to-read-income-statement
  • Retrieved on June 6, 2024 from fidelity.com/learning-center/trading-investing/what-is-a-balance-sheet
  • Retrieved on June 6, 2024 from finmark.com/how-to-read-cash-flow-statement/
  • Retrieved on June 6, 2024 from corporatefinanceinstitute.com/resources/accounting/profitability-ratios/
  • Retrieved on June 6, 2024 from investopedia.com/terms/l/liquidityratios.asp

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Accountancy & finance personal statement example.

I have always been an ardent reader. From Great Expectations and To Kill a Mockingbird to Stephen King's entire collection.

I find a great comfort in reading and consuming information but it wasn't until I found the book 'A Brief History of Economic Genius' in my local library that I became completely engaged and absorbed by the progression of mathematics and economic theory.

After this, I read the range of books from the library about Mathematical Methods for Economic Theory.

I was excited and so intrigued that I started to read online articles, listen to online lectures about inflation scenarios and real and nominal return. I read many books with the subjects of math, economics, finance and then finally, accounting.

The first book on accounting I allowed myself to indulge in was 'Capital in The Twenty First Century' by French economist Thomas Piketty. It was on Bill Gates' 'must-read' list and I quickly came to love the book and the topics discussed within.

I love how Piketty shows evolution of inequality since the beginning of the industrial revolution and the disrusptaunce from the Great Depression as well as the first and second world wars; this fascinated me and led me to my interest in broadening my knowledge.

At present I am studying A levels in Media and Drama. Although these subjects are not directly valuable for studying Accounting and Finance I believe that I have gained a lot of knowledge through A Levels that will help on this course.

I recently wrote a project for media on the advantages of social media in accounting, I concentrated on a firm based in the US that built outstanding social media presence through LinkedIn.

Writing this for Media has definitely improved my analytical and writing skills. Studying Media has also led me to develop commercial awareness which I believe is key in Accounting and Finance.

Drama has improved my self-confidence and communication skills massively and it has also led me to appreciate different cultures through studying them.

Alongside my A level studies I have also been tutoring GCSE Mathematics; I have done this for two years and I have helped many of my students with Further Mathematics as well.

I know that I am more than capable of meeting the demands and standards set for the mathematical side of this course. I believe that I have a firm foundation for studying Accountancy and Finance at University.

I have worked part time since October 2017. I worked for a year as a waitress and host at a hotel close to where I currently live.

Working on a Sunday lunch is stressful but, as I have now been through the experience many times, I have learned how to deal with immense pressure and how to enjoy the evening by socialising with customers!

This role has allowed me to develop punctuality and independency skills and also to be able to perform extremely well under pressure. I am confident that these skills will be massively beneficial to me in the financial industry.

I regularly jog and attend a yoga class once a week which helps me to maintain a good level of fitness as well as keep me physically and mentally well.

In the past I have competed in athletics and cross country competitions inside and outside of school, this has definitely given me more compassion and enthusiasm for everything I do and I am always striving to achieve the highest results possible.

I also meditate each morning which helps me to relax and to keep my mind sharp and focused throughout the day.

I am extremely thrilled by the vast amount of career opportunities a degree in accountancy and finance has. I am particularly interested in working for a bank as an auditor.

I am a highly motivated, friendly and confident individual who is committed to reaching my full potential.

With excellent organisation skills and a creative mind I am regularly used to exceeding performance expectations. I desire to become a successful accountancy and finance graduate at your university.

Profile info

There is no profile associated with this personal statement, as the writer has requested to remain anonymous.

Author's Comments

I'm already giving it in really late and I am super stuck on this and how I could improve it . Help !

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