Personal Statement Essay

Submitted By RobGun
Words: 802
Pages: 4

Can financial knowledge be utilized to influence the development of nations? This question keeps being confronted by students who have specific and strong academic ambitions in accounting and finance field instead of merely aiming at attaining certifications, including me.
While learning the international development of accounting, I realised how a nation’s economy can be affected simply by applying alternative accounting standards which may vary the operating results of listed companies. Considering the independence of system and structure of industry in China in its booming economy, I believe China’s development is more relied on solid records and objective analysis of Chinese organisations’ original financial information as such information in China is gradually becoming more transparent although it may still be manipulated by hierarchies and ideologies.
As China did not start to adopt International Accounting Standards until 2007, there comes a new responsibility to Chinese students who are familiar with both China itself and the whole business world, especially those who will attain degrees in more than one country, to formulate accounting system uniquely and objectively to Chinese situations. I chose a China-United Kingdom combined programme to become a suitable person in this field and kept absorbing knowledge and experiences I believe to be influential. Therefore, I see my future career in one of financial consulting institutions or government bodies which enable me to make such contributions using the financial knowledge I will attain in universities.

As a Chinese international student, I seized each opportunity to comprehend my thought and experience to achieve such ambitions. In January of 2010, I entered an XXXX accounting firm which is for my two-month internship. I gained numerous ideas and experiences from involving in auditing detailed accounts of regional subsidiaries of many national mainstay industry corporations and their suppliers. I do hope that my personal findings can be discussed with and used by people that have same academic expectations with me. Specifically, I realized that the vital reasons that some Chinese corporations in heavy industry failed to maintain their cash flows are the complexity of their huge debtor structures and long average ages of such accounts. Due to different measuring approaches of bad debts and provision for bad debts used by each corporation, the specific advice they received from accounting firms concerning peeling off bad debts is relatively ambiguous. As a result, audit reports failed to instruct corporations for their healthy developments. I believe this phenomenon stems from the fact that both national heavy industries and national accounting industry lack of quantitative and theoretically optimized measuring standard for the liquidation of organizations. If decision makers of the corporations have more reasonable understanding of their financial statuses, and internal and external accountants can give constructive advices in a deeper level at meanwhile, heavy industry of China would, at least regionally, be more prosper. This is also one of the propellers for me to look forward to acquiring abilities in such aspect.

During my two years studying in XXXX University, China, I adequately acquired basic accounting theoretical knowledge in a relatively familiar environment. My average mark for accounting-related core subjects reached 87.78%. Meanwhile, by making use of the…