Michael Conteh Personal Statement

Accounting like any other discipline, requires practice. But unlike some other subjects like Art and Crafts for instance that sometimes requires the use of ones imagination, accounting demands that the accountant adhere to certain principles for example; for every debit entry there must be a corresponding credit entry. This has therefore led me to believe that a real Accountant can not be made, they must be trained. I am therefore enrolling in finance, money and banking programme so as to be better equipped with the right knowledge required in this field. I am very passionate about learning Accounting; it is my life long ambition to become a qualified Accountant. I particularly like the fact that the financial institutions especially the Banking sector is going through a gradual transition, transforming itself. For instance the traditional banking like mortgage lending has enabled the Banks to retained Assets on their balance sheets, ensuring that they monitor the risks in other to get the correct balance regarding the various risks involved. While in the new model, the banks collect the Assets and sell them on to mortgage bond market instead of retaining them on their books. They also have the opportunities of collecting all these to portfolio, which it can sell to various other third party entities like a company or bankruptcy remote vehicle. This enables the Banks to pass on the Assets without having to worry about entering them on their balance sheet. Learning accounting has always fascinates me, especially because of it simplicity and accuracy. Having studied accounting at GCS E Olevel, I was amazed at the fact that the economic resources of a business are allocated, recorded, analysed, interpreted, summarised, verified and communicated in money terms to the shareholders and managers. This is done through the preparation of a financial statement showing and explaining things such as the value of Assets, liabilities, creditors, debtors and expenses to name but a few entries. Having worked as a book keeper for essential security services limited for a couple of years, I have learnt about pay roll and I have also developed some computer skills. I am presently working in the retail industry whereby I have learned various interpersonal skills which has enabled me to communicate better. I am very determined in pursuing a career in

accounting. I am dedicated to follow through to the end as this my life long ambition. Though I have left School for some years now to work and raised a family, I am very committed to achieve my goal. I believe I am better prepared since am more matured and experience. When I am free, I sometimes helped the local after School club balance their books from time to time and I also usually helped my self employed friends filed their taxes. I am fully aware that it will be difficult to study and raise a family at the same time but am ready to sacrifice lot things to pursue my dreams. I can easily adapt to any environment, and I am a much organised fast learner. With hard work and self discipline, there is an open road to success. I am presently doing new beginnings two at the University of East London so as to have a proper foundation into Higher Education. This involves Career Development, learning to learn in Higher Education, preparation of a portfolio, to name a few programmes. These have enabled me to investigate and reflect on my skills and to become acquaint with academic writing. As a result I have developed better time management skills; I can do proper referencing, can do a thorough research for resources to complete a Coursework. I have also learned analytical thinking and some new study skills, like photo copying the required chapter or pages from a book or journal and to just read the chapter that is related to the particular topic concerned instead of reading the whole book, to name a few of the skills learnt. I like reading especially Ancient mysteries, particularly ancient Egypt for the mere fact that it is one of the only civilisation whose artefacts has withstand the test of tine. I also like to play video games with my seven years old son. As an individual, I am highly motivated and industrious but not competitive, as I believe life should be about co-operation and rather than competition. I have learnt to stretch myself intellectually and I can work in a stressful situation with calm and poise. I am therefore confident, and better prepared to face the challenges of pursuing an accounting degree course in University with passion and dedication. I hope to do a post graduate masters degree on completion of an Accounting programme. It all started when I was little, my father used to owned a diamond business back in Sierra Leone. Though the business was very successful, it was poorly managed. The basic principles of accounting were all neglected, for instance he never understood that any funds withdrawn from the business must be repaid back into the business. He never kept any records of

transactions, nor does he have a separate personal account. The business and the businessman must be two separate legal entities.