Finance is not just a paramount function in a business but also in an individual's life, through watching a series called 'Till Debt Due Us Apart' I realized that some individuals are unaware of how to manage their finances which leads to overspending and debt. According to ONS from 2016 to 2018 just under 40% of households in Great Britain had levels of spending greater than their income, this means these families are overspending and most likely in debt. Debt and overspending are hard to manage and get rid of, they need to manage their finances and budget to start paying the debt back and stop overspending. This let me understand the importance of the finance industry in educating and helping individuals. The finance industry not only helps business manage their finance but also helps them grow, survive, and run their day-to-day activities as well as helps individuals plan for emergencies, get mortgages, and life insurance, manage their finances, and more. This is what interested me in the finance industry and led me to pursue this course.
The knowledge I gained from my GCSE and A-level Business on budgeting, income statements, and balance sheets as well as internal and external methods to raise finance started my interest in the finance industry. A-level Politics allowed me to understand that every key decision the government makes has an impact on business accounts, such as when the pressure group BMA advised the government to introduce a sugar tax to tackle obesity. Classic civilizations allowed me to improve my analysis and judgment skills, by comparing and analyzing the strengths and weaknesses to make a judgment in a clear, concise, and logical manner. These skills are important in the finance industry as they are used to compare businesses to competitors using income statements and balance sheets and their previous years of trading to be able to analyze and identify the cause of improvement, decline, or a trend in the accounts.
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I had the opportunity to study a CISI level two course which helped me develop the essential basic knowledge required in finance, I learned about the fundamental components of the financial service sector, which included looking at different types of banks, commonly used financial products, such as shares and bonds as well as a basic understanding of the markets. This course will prepare me for university as I will be using the knowledge and skills I gained in my course at university.
During my studies, I also participated in the Manchester Access Programme, where I wrote an academic assignment by researching and using Harvard references to talk about different types of outsourcing. In my assignment, I analyzed how they affect the business and made a judgment that outsourcing does not guarantee a business lower cost. This program taught me research and referencing skills that I will be using for my academic assignments at university.
My extracurricular activity, Debate Club, improved my confidence and communication skills, through confidently asking questions and voicing out my opinions I got to learn facts on various topics such as the importance of data protection.
Completing work experience in finance with SpringPod and with Investec in banking and wealth highlighted how every organization has a finance department and that there are multiple careers in finance such as accountants and investment banking. I also learned about accountants' five key ethical codes, independence and objectivity, integrity, confidentiality, professional competence, and professional behavior.
I have many hobbies including reading classical books, solving word puzzles, and Sudoku. I love watching documentaries such as The Great Handout because they are based on real-life events and facts that educate and inform me on several issues.
Through the accumulated knowledge I gained from my courses and experience, I know I have the ambition and determination to succeed in university and my future career in the finance industry.
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