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strengths and weaknesses of financial literacy
financial literacy chapter 11
strengths and weaknesses of financial literacy
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Shall I pretend that I am acquainted with every part of the course, having read the detailed content of the modules? I shall not bore you with that. Instead, here are some glimpses of my journey so far in building the foundation for my career in Accounting and Finance.
My first part-time job at the age of 15 was at a formal-dress boutique where I worked as a salesperson. I realised the importance of multiple language skills when I tried to enhance the customers’ in-store experience and was able to make them feel more comfortable as I could communicate in 3 languages, namely, English, Chinese, Malay and a few other dialects. That first saIary taught me the value of money, which I have been aware of ever since.
Being able to balance my academic life within the competitive environment of my high school gave me a training in time management. As the ICT Director of Young Enterprise, I had hands-on experience of the entire business procedure, from the set-up of the company, through applying innovation to the production, to selling shares and maximising profits. Winning the City Stock Challenge organised by Citibank, where I bought and sold stocks to gain profits through calculating probabilities and taking risks, aroused my curiosity to deepen my knowledge of investment in various types of stocks and shares. My understanding of the share market was enhanced when I read about Warren Buffet, a great value investor, and learnt about his successful investments in the value of sustainable businesses through disciplined strategies. I realised how emotional and easily-influenced decisions could lead to huge losses.
Last summer, I gained work experience in an audit firm, Tay and Associates. While shadowing an ACCA holder, I was involved in the ...
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...llows me to be aware of what I should focus on more in my degree, developing my interest and passion to a higher level in becoming my strength and my goal. At each stage, I have tried to capture that crucial moment, but now I know that every part of my journey has been crucial.
I hope LSE will be part of this journey, as I am aware of the professors’ holistic approach to education. I look forward to learning from tutors in LSE who question my answers and provide profound insights into Accounting and Finance. This will be my stepping-stone before I advance into a corporate finance department in the banking industry; my aim is to work in guiding institutions in bond trading, to explore its advantages and risks. Once I gather sufficient experience, knowledge and connections, I will venture into entrepreneurship. My ambition is to be successful. Will you, be part of it?
In the months preceding the start of my Federal Tax internship with KPMG, LLP this past summer, I had mixed expectations not only about the potentially difficult work I would be asked to complete, but also about how I would fit in at such a big and prestigious accounting firm with my limited experience and knowledge. In anticipation of my summer at KPMG, I would find myself searching the Internet for articles and forums with helpful advice for new coming “Big-Four” accounting interns and brushing up on some potentially helpful excel formulas. But, as my start date grew nearer, my nerves were progressively replaced with excitement and an eagerness to learn.
Thereafter, I realized that I have a great deal of potential in the field of education, but I must further my education in order to realize that potential. I found that
Warren Buffet once said, “Someone is sitting in the shade today because someone planted a tree a long time ago” (Buffett, Cunningham 51). During the deepest and longest-lasting economic downturn in history, which sent Wall Street into a panic and wiped out millions of investors, the Great Depression, Warren Buffet was buying and selling his first stocks. Amid the difficult times, Warren Buffett became one of the greatest investors ever and is regularly ranked among the wealthiest people in the world with a net-worth of 66.7 billion dollars (“History”).
...lings that overcame me: it was the first time I felt as though I was important, the first time I felt as though I was a scholar, and most importantly, the first time I felt as though I belonged. I want to be an active voice on campus and in the classrooms; I want to be a role model to the diverse student body; I want to branch out with the opportunity given by GS; and most of all, I want to grow into the leader I dream to become.
I want to be a better person, and it is because of this class that I was finally able to figure out how to go about doing just that. I know how to learn. I know that if I am going to learn in an effective manner I have to do things hands on. I have learned that my way isn’t always the best way. When it comes to solving a problem, I have to be open and willing to actually hearing the other side of the situation instead of plotting my defense in my head. I have learned that thinking critically isn’t something that is learned and mastered overnight. To apply critical thinking effectively I have to be able to be aware and practice the steps every single time. After I graduate and walk away with my Bachelor’s Degree, I want my success to continue. I want to be able to take what I have learned and apply it to my Project Manager career. For me, Academic Success will not end when that diploma is in my hand. As long as I have goals and strive to reach and set new goals, academic success will forever be in my
...ning and evaluation of my learning. I have become more motivated to do the course as I have been responsible of my own learning and identifying resources for learning, therefore, have more confident in making decision.
I became an enthusiast of finance ever since I was at high school. At the political economy class, my teacher asked us: if you have a million RMB, how would you use it? She then introduced us the concept of investment, and I was intrigued specifically by the stock. For the latter two years of my high school, I have been reading books and articles regarding the stock market in the U.S. and in China. As one of the outstanding students ranked top 1% in College Entrance Exam in Hainan Province, China, I was accepted by the City University of Hong Kong with a full scholarship. With the strong interest in finance, I chose quantitative finance and risk management as my major.
My education is something that has shaped who I am today more than I realized. To the people who have been involved in my education. For the goal I have set for myself it’s a dream a dream with plan. For that goal I have set high expectations.
Msc Finance of the Imperial College Business School is a good course to skyrocket my career in the finance industry. It would provide me the best path in achieving my career goal. Unlike any other Msc Fi...
What does the accountant of the future need to be successful? A sturdy education that while is based on traditional accounting practices, also prepares future accountants for the plethora of changes happening in the accounting universe. Frequently, most of the institutions responsible for educating professionals fail to evolve as rapidly as the professional practice itself (Bedford et al. 4). In every way, accounting is expanding and in order for the future to have competent accountants, accounting education must expand as well. Major changes occurring in the world of accounting include the expansion of services and products, changes in competition, an increase in specialization, and an increase in and an advancement of technology. It is up to academic institutions to find proactive ways in which to prepare students for such changes. Accounting education of the future will require more breadth to cover the inevitable expansion of services and products, increased knowledge of economics, marketing, management and information systems to increase competitive advantage, a balanced course load that provides a general accounting knowledge as well as increased knowledge of a specialization, and also a greater, proactive focus on the use of continuously advancing accounting technologies (Bedford et al. 8). Also in play is the chance of change in accounting standards, the move from US GAAP to IFRS. While there are no certainties surrounding the threat of such change, students in the U.S. should acquire at least a general, basic feel for the practices used in regards to IFRS. The future health of the accounting profession depends, to a great extent, on the health of our students (Gormon and Hargadon 4). Reorganization of curriculums would surely be difficult and assumedly time-consuming, but nevertheless, completely
...e of today and the reality of tomorrow, and my dream of accomplishing a graduate degree that will help me to be a proficient and competent professional for the future will undoubtedly enlighten my present and in turn and help me to brighten up many lives tomorrow.
Has there ever been an experience that not only has changed your development but also has recalibrated your entire life? If you were to ask me this question i would answer yes with great exuberance. I would also state that this occurred not even a month ago. I state this response with great joy simply because I enjoy the recalibration I have encountered, since this change can enhance a better future for myself. It has let me find my true passions and let me realize my true dislikes. Most importantly it has given me a new sense of maturity I feel that I didn’t earn! But in order to explain this adjustment that has crossed my path the reader must understand what and how my life was lived previously. Following this I can describe the events of my experience that leads to the pep talk that induced me into making the change that was essential in order to improve my future.
Relentless betterment has always been the motive of my life. The foremost requirement to attain this is knowledge and profound guidance. After the completion of my course under the guidance of your privileged university I am confident enough that I will take the path of constant growth.
My interest in Accounting and Finance stems from wanting to understand how governments and businesses make their vital decisions to be profitable. Studying this degree, will allow me to gain an understanding of financial accounting, management accounting and taxation providing me with skills to analyse data and develop my decision making. Additionally being able to incorporate different aspects of business alongside the core modules; will give me more knowledge of the world of accounting and finance.
Background experience in auditing and finance can help a person acquire skills necessary to qualify for becoming a charte...