My Interest in Accounting and Finance

Money is powerful, and improper management of your finances can be detrimental. Witnessing the strain finances can put on lives sparked my curiosity into finance, because I wondered how not to end up in those circumstances. As I got older my curiosity turned into a real interest into finance, and I wanted to learn more about the financial sector – specifically accounting.

As a result of my interest, I joined Pathways to Banking and Finance in order to learn more about different routes into careers in finance and improve my personal skills. The programme has given me a clearer idea of future careers I could have by hearing different testimonies of professionals during networking sessions – these testimonies lead to my interest in audit after hearing the doors it opens for people. I have also had the opportunity to attend mock lectures, such as ‘Behavioural Economics’, which fuelled my interest in behavioural accounting- I have learned about how cognitive biases affect what consumers consume, such as a status quo bias causing people to want to remain the same. Through Pathways I was able to get a work experience placement with Deutsche Bank (unfortunately it had to be virtual), despite the different format I was able to improve my consulting skills through a group project that required us to find solutions for a business affected by COVID-19, my specific role was to find solutions to the cost issues the firm was facing and my group won.

Whilst developing my insight into finance careers, I realised the skills I have align with those best suited to an accountant. I have always found problem solving enjoyable and in accounting it’s important to have the skills to find solutions to problems think analytically, as a flaw on the accountant’s behalf could ruin a business. I believe I am a very logical person, which explains the passion I have for mathematics. Also, being from a very diverse area I have grown to be able to communicate with all different types of people, I believe personal skills are beneficial in all types of careers but especially accountancy because of the necessary relationship with clients. Despite accounting not being solely about maths, numerical skills are still fundamental, and I imagine my mathematical aptitude will be beneficial for an accounting degree.

The degree itself mostly interests me because of its versality, modules can vary from business law to economic principles; I already have interests in law and economics after taking them at A-levels, so the combination of mathematics, economics and law in the degree is suited to me. Accounting is a degree that will provide practical skills, by learning key accounting principles I should be able to put them into practice whilst living as a student, for example, budgeting. I also like that I will be able to perfect my analytical skills and I will gain a stronger understanding of the financial industry. Finance provides great opportunities to gain experience within the industry, through the amount of opportunities for placements, completing placements will benefit me by allowing me to build connections, assisting my career progression and giving me vital work experience; these will all be key in determining my specific route post-graduation. An accounting degree will require independent study, and as I have good time management skills, I believe I will be able to organise myself so I can have a good work-life balance. I strive to be as knowledgeable as I can and have the drive that will push me to be as successful as I can. Learning about different aspects of accounting and finance will hopefully be challenging so I can prove my wilfulness to succeed in topics I am passionate about.

Accounting and finance will help my career progression massively. I would like to be an auditor after graduating and I believe that with all the information I will have gained from studying I will be confident in my future career. As an auditor, I would be able to meet a lot of different types of people, I think the variety of client relationships will provide insight on key processes of different firms. Auditing presents the opportunity to travel for work, this means I wouldn’t have the usual repetitive workday and the continuous change of scenery will make my job even more enjoyable and engaging. After spending my younger years as an auditor, I hope to progress to be a forensic accountant because I think being a specialist in a field of work is admirable – especially when it includes uncovering illicit activity. 

Works Cited

1. Allott, A., & Mindak, B. (2020). Audit and Assurance Essentials: For Professional Accountancy Exams. John Wiley & Sons.
2. Catanach, A. H., & Rhoades-Catanach, S. (2018). Forensic Accounting and Fraud Examination. Wiley.
3. Deegan, C. (2019). Financial Accounting Theory. McGraw-Hill Education.
4. Eilifsen, A., Messier Jr, W. F., & Glover, S. M. (2020). Auditing and Assurance Services. McGraw-Hill Education.
5. Epstein, M. J., & Buhovac, A. R. (2014). Making Sustainability Work: Best Practices in Managing and Measuring Corporate Social, Environmental, and Economic Impacts. Berrett-Koehler Publishers.
6. Horngren, C. T., Sundem, G. L., Elliott, J. A., Philbrick, D. R., & Kowalewski, T. M. (2020). Introduction to Financial Accounting. Pearson.
7. Melville, A. (2021). International Financial Reporting: A Practical Guide. Pearson.
8. Portman, L., & Morgan, A. (2019). Auditing and Assurance: A Case Studies Approach. John Wiley & Sons.
9. Scott, W. R. (2015). Financial Accounting Theory. Pearson.
10. Singleton, T. W., Singleton, A. J., & Bologna, J. C. (2017). Fraud Auditing and Forensic Accounting. John Wiley & Sons.