Statement of Purpose

 MASTER OF PROFESSIONAL ACCOUNTING

SAMPLE 5

Source: KIEC Student (BHA21PRA)

IIntroduction

My name is Applicant Name, resident of Biratnagar. I was born in Biratnagar, Morang, Nepal on XX August, 19XX. My father’s name is Parent Name and my sister’s name is Name who is married to Name and currently living in the USA.

I have accomplished my Secondary School Examination with XX% in 2009 from Namuna Vidya Mandir Secondary Boarding School and Higher Secondary Level Examination (10+2) with XX% in 20XX from Shikshadeep Higher Secondary School in Biratnagar. After that, it was my interest in Management that motivated me to graduate with a Bachelor in Business Administration. I joined the Bachelor of Business Administration (BBA) with major human resources, in Management Campus, Nepal, a government college under Purbanchal University and completed the program securing XX CGPA in 20XX. I had done an Internship in an “A” grade commercial bank named Kumari Bank Limited from  November 20XX To January 20XX as a part of my course work. After receiving my academic transcript on April 20XX, I spent some time doing research on further career options available to me. It was the time when I attended education fairs, seminars of education counselors, ECAN fair and met representatives from foreign universities. Along with my understanding of internationally recognized degrees, I attended the IELTS class and scored 6.5 overall (Sep 2016) with no band less than 6.0. Along with all this process after my graduation, I started working as an accountant at Koshi Campus, Biratnagar from 12th March 20XX to November 20XX. Currently, I am working as a Trainee Assistant in one of the reputed “A” grade banks of Nepal named Siddhartha Bank Limited from 18th December 20XX. As of my field of work and interest in the accounting sector, I want to become a Professional Accountant or Senior Accountant in one of the reputed business organizations back in my home country. So, I believe my previous academic background, as well as work experiences, will surely help me to understand my course of study at University name, Australia, which will help me to achieve my future goals back in my home country soon in near future.

Why Study in Australia?

With clear-cut intention to leave my home country in the pursuit of higher education and many study destinations were upon my mind. Then my personal research got initiated. The obvious choices were USA, UK, Australia, Canada and European Countries like Germany and Norway. Then I started comparing and contrasting among these countries and I finally chose Australia for its globally recognized education in a safe environment and lower living cost. Australia is a diverse country that has always warmly welcomed international students and I have found that Australia is the right place to continue my Master’s Degree. In the United Kingdom, the master education is generally of one year, which is not globally competitive while in the USA to get into a good university a student needs to sit for competitive exams like GRE (Graduate Record Examination), GMAT (Graduate Management Admission Test) etc. that is often time-consuming process from preparation to securing the good scores. Also while contrasting among other European countries for instance in Germany, Norway etc. there are certain language requirements and as Australia is English speaking nation and doesn’t have to take language classes for it as I have been studying in English medium school early from childhood. The fee structure of Australia is affordable in comparison to the USA, UK and Euro rates. Also, these countries do not have proper laws for international students like the ESOS Act of Australia. Also, they do not offer Post Study Work opportunities. The education system of Australia emphasis on practical study. The education system is renowned and the teaching technique is unique. This standard education system escorts individuals to a better future and more job opportunities in every part of the world. Australia in the past few years has become one of the most popular destinations for students from all over the world; it is now home to some of the world’s best universities with excellent education and infrastructures for students. It is evident from the fact that 24 Australian universities were ranked among the top 400 universities in the world according to the Times Higher Education World Ranking 2018. Graduates from Australian Universities are highly sought after education system, which is carefully regulated by the Australian Government in order to maintain high standards of education through the Department of Education Services for International Students (ESOS), Tuition Protection Act (TPS) to ensure and maintain high standards to facilitate quality education to the international students. Australia also provides an opportunity for international students. Australia also provides an opportunity for international students to apply for a Post Study Work (PSW) visa after the completion of a university degree, which will help students gain practical work experiences after they graduate and enhance their overall international study experience.

About the Course

Master of Professional Accounting (MPA) is a 2-year full-time program designed to meet the global demand for high-quality graduates in accounting. Students will integrate theoretical and technical knowledge of financial and managerial accounting, auditing, finance, economics, marketing, business and company law. Master of Professional Accounting at University name is recognized by CPA (Australia) and Chartered Accountants Australia and New Zealand (CAANZ). This course overall will help me to be able to make sound business decisions by understanding the tools and techniques of business accounting. MPA at University name consists of 16 Units, which include 12 core units and 4 electives, which can be chosen from the Master of Business Administration or the Masters of Global Project Management. The core units like Taxation Law, Managing Finance, Company Accounting, Business and Corporate Law, Management Accounting, Finance Accounting theory and practical etc. will help me to enhance the business accounting skills and knowledge and also provides the best exposure to the required business accounting practices that no other business-related course can. The annual course fee for the year 2018 is AUD $ XXXXX.

Why the Master of Professional Accounting?

In this 21st century’s versatile world, nothing is certain and this same applies to every financial company and organization. The current market structure is always increasing which can result in an uncertain future for the financial organizations. Forecasting the uncertainties and taking the required measures to see them off is very important for the organizations, and this is where accounting comes into play. Just as language is universal to people, so is accounting in business because it deals with interpreting and communicating information about a company’s past events and forecasting the future. For a business to survive and grow it is crucial to have a proper accounting practice as it ensures accuracy of financial statements complying with the existing laws and regulations which eventually results in improved business efficiency, reduce cost, enhance the revenue and undertake profit-making decisions with the owners, investors or the mangers of the company. It is because of this recognition and importance of accounting the majority of students graduating from business background decides to seek further education in the field of accounting. With better knowledge and training in accounting and related subjects, an individual can develop a strong career in today’s modern business and financial organizations. Hence, with the help of the Master of Professional Accounting, I can receive the full package about accounting and it helps me to get great career opportunities after the completion of this course.

Once I complete this intended course, I believe I will have the proper knowledge and the right set of skills that will enable me to establish a strong career in the field of business accounting. After completion of Master of Professional Accounting, I would like to apply for Post Study Work Experience to make the most of the Australian exposure and experience, get the confidence, and increase my competitiveness on return to my home country. In Nepal, qualified accountants are high in demand and there is the number of firms that offer jobs with good pay. Having an international degree will make me more competent and demanding in Nepal and Master of Professional Accounting from Australian University will be my Unique Selling Proposition to potential job providers in the Nepalese market. Although in the initial phase, I expect the pay to be around NRS. 50,000 to 70,000 per month as an Accountant for couple of years but once I gain some experience here, there could be potential job openings in different Multi-National Companies like Coca-Cola, Unilever, Chaudhary Group, in A grade banks like Nabil Bank, Standard Chartered Bank, Everest Bank, and also in donor agencies and INGO’s like World Bank, Asian Development Bank, UNICEF which provides salary above NRS. 100,000 monthly for qualified accountants under different career options like Finance Manager, Budget Analyst, Senior Accountant etc. After working and gaining professional experience for some years I also would like to see myself opening up my own Accounting Firm to provide accounting services to organizations and moreover create job opportunities which are very essential in context Nepal.

Why University name?

From extensive research, I came to conclude that receiving an International Degree in Master of Professional Accounting from University name, Sydney, Australia will surely help me in achieving my goals. The course is designed in such a manner that it touches and gives depth knowledge in an advanced international specialization. Torrens University, Australia is a part of Laureate International University, a leading international network of quality institutions of higher education comprised of 70 universities across 25 countries. University name is located in prime cities of Adelaide, Sydney, Melbourne and Brisbane. University name Sydney is located in The Rocks, a five-minute walk from Circular Quay Station, few minutes from Wynyard Station and bus terminals that are connected to Sydney’s main transport system making it very easy to travel around town. It is considered as the fastest-growing University of Australia according to universityreview.com. Students and graduates have rated University name 8.9 out of 10 in teaching quality, research, employment rates and students’ experience.  University name operates on a trimester system, which allows the courses to be completed in less time than other universities. Going through the university website it was evident that University name focuses on providing students a learning environment with face-to-face interactions with industry-experienced professionals and lecturers with initiatives like touch point weekend sessions, small and interactive classroom environment. To be very honest, the best part is we will not get all the above-mentioned combinations of course of Master of Professional Accounting at any institution in Nepal or elsewhere in the country.

Besides University name, I also did several research for other colleges providing MPA Degree. I did a comparison of tuition fees, course structures, location and entry requirements by different education providers of Australia. Most of the universities like University name, University name and University name also provide a Masters in Professional Accounting but was amazed when comparing the fee structure of these universities with University name. University name is very much affordable with respect to the above-mentioned universities. University name annual fee is AUD $ XXXXX per year while the University name estimated annual fee is AUD $ XXXXX, whereas the University name estimated annual tuition fee is AUD $ XXXXXTherefore, studying at University name can be very beneficial in both academic and financial wise.

Why not Nepal?

In the context of Nepal, researching on various Nepalese Universities like Tribhuwan University, Kathmandu University and Purbanchal University, I found out that course I am willing to study is not fully available in them. Tribhuwan University provides a Master in Business Studies (MBS) degree, which includes Management Accounting as the only accounting subject, and the specialization offered in Accounting only covers some basic concepts like Auditing, Tax Laws and Tax Planning. Meanwhile, Kathmandu University provides accounting subjects under Foundation course as Accounting for managers and it is the only course where Accounting is discussed. Similarly, Purbanchal University provides very limited knowledge of accounting as there are only two accounting subjects under Masters in Business Administration degree. Hence, the complete Knowledge and specialization in accounting I am looking for cannot be fully gained from universities here in Nepal. The Universities of Nepal does not offer a wide range of courses that of international standards. On top of that, the available courses are not flexible and updated and they are taught with the same curriculum for many years which does not meet global recognition. Additionally, I want to gain a degree that can be recognized worldwide and holds international exposure. As a result, I might be deprived of all the opportunities that I could deserve but I could not get here in Nepal.

About Funding and Returning Back

I hope to finance the funding of my studies and living expenses through bank balance and my family income, which is generated from my father’s business, mother’s job as well as land lease. My parents are supportive in terms of financial support regarding my decision to study abroad and will sponsor me throughout the course period.

Likewise, besides my professional career plan back in my home country, I have to take care of my parents in their old ages in supporting at difficult time as I am the only son to whom they solely rely upon so it is my moral duty to return back after my degree and PSW and help my parents. Likewise, most importantly, I do have to take care of my family assets worth NRS. 18,000,000 approximately for future retention. Thus, I really want to remain with my family sharing every joy and sorrow and stay happy with each other and giving continuity to build up my better professional as well as personal career.

Visa Sub Class 500

I realize that being enrolled as an International Student in a host country might be tough and challenging, but I am confident that I will do my best from my side to maintain the university ethics and also stay being bounded by the Australian rules and regulations. I am well known about the Visa obligations for which I am prepared to follow strictly during my stay in Australia;

  • I must maintain 80% attendance.
  • I need to clear 50% in each subject.
  • I cannot work more than 40 hours per fortnight.
  • I must maintain health insurance until I remain in Australia.
  • I cannot change the University for six months upon my enrollment.
  • I must notify the University within 7 days if I change my address or contact details and so on.

Finally, I would like to assure you that I am mentally prepared to obey all the rules under Visa subclass 500, and I believe that my investment of time, effort and money will certainly bring a better return, which is a rewarding future career goal. As being a deserving and dedicated student, I assure you that I will finish my intended course in proper time with better grades and will come back to my country for achieving my future goals.

Thank You,
Applicant Name

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