Growing up in a business family, my interest in business started at an early age. Accompanying my father to office was my favourite way of spending my vacations. The environment and interaction experienced during this period was instrumental in influencing and increasing my aptitude for business in my formative years. The working of the office including the chaos and the urgency for decision making fascinated me.
In high school, I took up commerce as an elective and was introduced to Accounting and Finance concepts. This introduction soon turned into a fondness. The reason being I did not have to learn anything by rote, instead I needed to understand the required concepts, make sense of various adjustments and learn ways to treat the different transactions. The subject presented many challenges which motivated me to work towards overcoming these challenges. With my determination towards understanding concepts, the working of the various books of accounts, functioning of the financial markets these subjects became my strong suit.
With my increased interest in areas of Accounting & Finance, I decided to take up the Common Proficiency Test after high school but, this was discontinued as I wanted to concentrate on my under graduation. This undivided passion for business and related subjects encouraged me in pursuing an Undergraduate degree in Business Administration, from Mount Carmel College, one of India’s premier institutions.While pursuing my Bachelors in Business Administration, the course module consisted of subjects such as human resources, international business, organisational behaviour that gave me a deeper understanding of the requirements of a successful business organisation. Although there were various subjects which interested me, Accounting and Finance remained my strong suit. Since studying business and all the essentials of a business organisation, I have gained an underlying respect for how business influences and structures our lives.
During my experience of an internship with a start-up company, I further gained insight into the functioning and requirements of a company in a corporate atmosphere. This opportunity was an enriching one and equipped me with a deeper understanding of the functioning of a business. As an intern for a fairly new company, I had the fortune to be involved in the crux of the establishment. In this period, I learnt to manage customers, their queries, maintaining cash flows, marketing and data entry. Though there was no existence of a designated role, this was more of an advantage as it ensured that I could participate in all functions of the organisation and contribute towards the growth of the firm.
As part of my final year dissertation under my specialisation of Finance, the topic chosen was “The Financial Risk Tolerance of Women”. The sample size for this study included women from all age categories, varied socio-economic backgrounds, income brackets and marital status. The location for this study was urban as well as semi-urban. This study further increased my knowledge on various investment avenues, investment patterns, reasons for making investments and feasibility of particular investments. Also the wide parity between investment patterns of men and women were further probed.
The findings of this research concluded that women are less tolerant to risk. A wide range of factors influence this outcome, some of them being financial literacy, demographics and socio-economic backgrounds. Financial literacy and risk tolerance was found to have a negative correlation. The reason for this being, the perception of being financially literate was high among the respondents whereas, the fact was they were not as financially literate.
Apart from my academic accomplishments, I have actively been involved in various cultural activities at the department and institute level. I also have been a part of my departments fest team and have participated in a few events. These fests built a strong sense of confidence and helped build my network as well. Also the learning curve while participating in these fests was steep. Time management, witty and quick thinking, problem solving were some of the skills that I have acquired as an output of this. Being a part of the organising committee of the annual college fest for consecutive years, I was exposed to various managerial roles which led to the enhancement of my interpersonal skills. My association as a coordinator gave me an insight to the various aspects involved with organising an event and the importance of coordination among all departments for the event to be a successful one, just like how a business requires all its departments to function efficiently and effectively.
I am also fortunate, to have been a part of a non-profit organisation which works for the upliftment of downtrodden children. My experience as a teacher for under privileged children was a very humbling one. The importance of a good education at a primary level was highlighted. During this period, I was fortunate enough to be the fund raiser for my centre.Accounting ;Finance, in my opinion is a fundamental part of our way of life and not only a part of a business. This is because I believe that every person in the world uses principles of Accounting ; Finance in their life. It can be things that they do in their daily life, for example; checking how much money they have with them, how much they have spent, which investment avenue is most feasible and large-scale operations at the same time. These areas of business are essential for the functioning of an organisation. Individuals possessing skills in this field are always in demand. Knowhow in these aspects of business are valuable as the guidance provided to companies helps them grow, survive or save untold amounts.
The recognition of the importance of personnel in these fields helped me in my decision to further study in these areas. The importance of these areas of business and its relevance further interested me in upgrading my expertise in the subject and I consider it to be my professional potential. Finally, I believe that I have the commitment and determination to complete this course and pursue a successful career in my chosen field.
An opportunity to study in your esteemed university provides me with the knowledge, expertise and facilities that is required to have a global outlook towards accounting and finance. The ability to learn from a diverse group of individuals and an environment conducive is an ideal place to pursue a business course. By studying a masters programme entirely dedicated to Accounting ; Finance, I will be able to extend my knowledge and expertise in the sphere that has always interested me and become a capable accounting professional.I thank you for taking time to evaluate my statement of purpose and I hope, I am provided with the opportunity to study at your esteemed University.