Crafting a Personal Statement for a Finance and Accounting Degree

A personal statement for a Finance and Accounting degree allows candidates to display their passion for numbers, economic systems, and the financial world. Craft it with care, authenticity, and precision, and you'll undoubtedly make a memorable impression.

Here's a step-by-step guide to creating an impactful personal statement.

1. Introduction: 

• Purpose: Set the tone for your statement and establish your foundational interest in finance and accounting.
• What to Include: Discuss what drew you to finance and accounting. Was it a particular financial news story? Maybe a family business or personal experience made you realise the importance of finance.

Example: "My interest in finance and accounting was ignited when I assisted in my family's business accounts, realising how financial competence was essential for making informed decisions."

• What to Avoid: Being too vague about your interest or using clichéd phrases like "I've always been passionate about numbers."

2. Skills and Achievements

Purpose: Demonstrate your aptitude and readiness for a demanding academic degree.

What to Include: Highlight specific skills that align with finance and accounting such as analytical thinking, attention to detail, or any aptitude with numbers and data analysis. Share instances where these skills played a pivotal role, and any accolades or awards you’ve received related to these areas.

Example: "As the treasurer for the school's drama society, I managed the club's budget, optimising our allocations and achieving a 20% surplus. This not only honed my financial skills but taught me the value of precision and strategic foresight."

What to Avoid: A generic list of skills without any context or evidence. Avoid overstating achievements or being arrogant.

3. Relevant Work Experience

Purpose: Prove your commitment and practical exposure to the field.

What to Include: Discuss internships, part-time positions, or even school projects related to finance, accounting, or economics. Detail your roles and major takeaways. If you helped streamline a process or identified cost savings, now is the time to mention it.

Example: "During my summer internship at XYZ Bank, I collaborated with the corporate finance team on a project to streamline the bank's credit evaluation process, offering me a deep dive into real-world financial intricacies."

What to Avoid: Mentioning unrelated work experiences without drawing a connection to transferable skills or the chosen field. Avoid being too technical without explaining the significance of your actions.

4. Academic Endeavours: Beyond the Curriculum

Purpose: Connect your past studies and future academic goals.

What to Include: Talk about courses or seminars you've attended that deepened your interest in finance and accounting. Mention your long-term career goals, be it as a Chartered Accountant, Financial Analyst, or any other specific role, and how this particular program will pave the way.

Example: "To supplement my A-level studies, I pursued an online course in Advanced Financial Modeling, where I was introduced to complex financial structures and their practical applications."

What to Avoid: Being unsure or vague about your aspirations. Avoid focusing only on past achievements without linking them to future ambitions.

5. Closing Statement: Vision for the Future

Purpose: Wrap up your statement compellingly and memorably.

What to Include: Restate your enthusiasm for finance and accounting, and your determination to excel in the degree. Convey gratitude for the consideration and end with a forward-looking statement about your potential contributions to the field.

Example: "I envisage a future in financial consultancy, aiding businesses in optimising their financial strategies. This degree, for me, is more than an academic pursuit; it's a cornerstone for my envisioned future."

What to Avoid: Using generic or clichéd closing lines. Avoid introducing new ideas or topics not discussed earlier in the statement.

Tips to Make Your Personal Statement Stand Out:

Embarking on a degree in finance and accounting is an exciting endeavour. Your personal statement should reflect not just your past accomplishments but also your future potential.

Real-World Relevance: Relate your interest in finance and accounting to real-world events, such as the global financial crisis or a notable merger. This shows you understand the significant impact of the sector.

1. Quantify Achievements: In finance and accounting, numbers speak volumes. Whenever possible, quantify your achievements. For example, "I assisted in reducing expenses by 15% in a project" is impactful.
2. Mention Relevant Tools: Discuss any experience with accounting software or financial modelling tools. This can demonstrate both practical skills and a proactive approach to learning.
3. Personal Financial Experiences: Maybe you managed funds for a club, helped with a family business, or invested pocket money. Personal experiences can give an authentic touch to your statement.
4. Stay Updated: Mention any recent books, journals, or publications you’ve read related to finance and accounting. It shows dedication and a genuine interest in staying updated in the field.

By following these guidelines and being aware of potential pitfalls, you'll create a personal statement that stands out and showcases your suitability for a Finance and Accounting degree.