MBA SOP (Master of Business Administration)

 

Subject: Statement of Purpose

I am XXXXXX, a graduate from Tribhuvan University, born on 1st Dec, 1995, daughter of XXXXXX and XXXXXX. I have one elder sister who is married and living with her husband’s family. I do have one younger brother who is studying BA. My father is a pensioner, an ex-policeman and now he is engaged in business of gold and silver jewelries whereas my mother is a housewife and also helps my father in his business. Our permanent residence is in XXXXX but we have been living in XXXX. However, I am living in XXXXX with my husband after my marriage.

 While talking about my in-laws, they are from XXXXX. My father in-law is also a pensioner, he was a government teacher and now he is running a construction business in XXXXX. My husband, XXXXX is working as a community pharmacist in XXXXX from XXXXX to till now in XXXX, whereas my brother in-law is an XXXXX in District Health Office in XXXXX. My in-laws are also engaged in horticulture business (apple farming) as XXXX is very famous for apple in Nepal.

 From an early age, my parents have always been encouraging me to become an independent woman. Their continuous support, motivation and hard work for making us good person have always been an inspiration. I have always been an enthusiastic, dedicated person, who carries a big dream of being a part of business world in future. My parents have always been so supportive and they always give their best to support us as they believe that the education is the key to success in every person’s life. Their wise words have been my true source of inspiration to do something great in my life. With their great support and motivation, I have also been giving my best when it comes to my education to prove myself as a hardworking person. I was very good in numerical subjects from my school days. I started studying accountancy from grade 8, ever since I was introduced to the subject, I found the subject very fascinating and continued studying Accounting till my bachelor degree level. So, after years of learning the Accounting subject, I am very confident that I can build my career in Accounting and achieve my career goal of becoming a Professional Accountant or Financial Advisor in reputed business organization in my home country in near future. Thus, I am planning to begin my higher education in Master of Business (Accounting) at Victoria University, Sydney, Australia.

My Marriage History and Spouse Details

My husband completed his SLC from Saraswati Ma Vi with second division and he completed his 10+2 with second division from XXXXX. After completing his high school degree, he went to Bangalore, India to continue his higher studies. He completed his Bachelor in Pharmacy from XXXXX in 2016. After finishing his bachelor degree, he returned to Nepal and started to work as a XXXXX from September 10, 2016 to till now.

 The decision of getting married is an important decision in every person’s life and in our case, we came to a decision after knowing each other for years. We met each other as we were living in same neighborhood. My husband was living in Kathmandu for his high school studies. His decent personality and understanding nature made us closer to each other and even he was in India for his bachelor’s study, we were still in touch.

 My husband has always been there for me through thick and thin in my life and it was him, who kept me motivated and made me feel strong enough to convince our parents. He is a hardworking person with decent nature and he has been my greatest source of motivation now. He supports me in every aspect in my life be it in my studies or an emotional support. He has always been an understanding partner. This makes me happy that we have made a good decision to get married. I feel complete and stronger in his presence so I believe that I can do much better if he is with me. His presence will not only please me but also help me to get through the challenges I may face in my studies and career.

 My Academic Background and activities done after final exam completion of BBS on April 2017 and result publication on November 2017

 Highlighting on my academic background, it is presented as follows in brief

 

Name of Institutions

Degree

Board/University

Year graduated

Percentage

XXXX

XXXXX

XXXXX

2017 A. D

xxxxX

XXXX

XXX

HSEB Board

2013 A. D

xxXX

XXXXX

SLC

SLC Board

2011 A. D

XXX

 After completing my SLC from XXXXX in 2011 with 85.63%, I got enrolled in one of the finest colleges ‘XXXXX’ which is among top ten colleges in Nepal. I completed my high school degree (10+2) in the year 2013 securing 70.2%. Since I completed my high school degree from management stream and my interest on accountancy, I decided to join four years BBS from the same college. During the four years of study in bachelor, I studied many subjects like cost accounting, finance, economics, taxation, auditing, business communication etc. I finished my final year examination in April 2017 and after that we had to do a project and submit to Tribhuvan University within a month so after consulting with my teachers I decided to do a research project on investment sector in Nepal. Considering the fact of growing trend of mutual funds in Nepal in recent decades, I did a research project on ‘Fund Allocation of Mutual funds in Nepal’in May 2017. It was a thesis project and a practical part of business research subject of our final year board examination. The research project helped me a lot in understanding the investment trend and market scenario of businesses in Nepal as well as its growth potential in near future. So, considering these factors along with my interest in accounting, I have planned to do my master’s degree in one of the best universities in the world.

 After completing my research project, I started thinking about where to study for my master degree. As my result was not published until November 2017, I decided to utilize that period into doing some research on universities and courses for master’s degree. After searching a lot and consulting with my teachers, seniors and family members, I found that the course I want to study is not available in our country. Since, I wish to gain specialization in accountancy, there is no such course which fully provides the specialization.

 Hence, I started doing research on universities in foreign countries like USA, Australia, UK, Canada and other European countries etc. I attended several educational exhibitions conducted my educational consultancies and visited some consultancies for getting idea of the country, courses, fees and living expenses etc. Furthermore, I also visited several websites to do research on it. Some of them were www.goabroad.com, www.usnews.com,www.studyabroad.com,www.studyincanada.ca, etc.

 After doing my independent research for Accounting program in most of the education providers of Australia, I ended up choosing Victoria University for the program named Master in Business (Accounting), so, I applied for offer letter in 29th January 2018 and received in same week. Then after collecting and preparing all the required documents, I applied for GTE in Victoria University on 20th February 2018 and got approved in same week. After paying required tuition fee and full visa length of OSHC, I received eCOE on 26th February 2018.

For the language proficiency requirement, I appeared on IELTS Test on 25th November, 2017 and my result was published on 8th December, 2017. My IELTS scores in each band and overall score are as follows:

Listening

Reading

Writing

Speaking

Overall

6.5

8.5

6.5

6.5

7.0

 

 

Reasons for choosing Australia for higher studies rather than my home country Nepal, USA, UK, and other countries

 When I finished my Bachelor degree, I would feel more comfortable to be studying masters’ level in my home country, Nepal, living with my family and my friends, but the universities in Nepal are limited which offer Master of Business. The universities of Nepal like Tribhuwan University, Pokhara University, Kathmandu University, Purbanchal University have poor infrastructure, old teaching system and limited seats available. There are only limited seats available and the number of students applying is very high. Though these education providers in my home country does offer master degree named as Master of Business Studies or Master of Business Administration which is general program and does not offer specialization subject as an ACCOUNTING, which I have chosen in Victoria University, Australia. Also, MBS program of my home country through such Universities is not well recognized and on demand as Master of Business program with Accounting major of Victoria University, Australia. Another reason for not pursuing further studies in Nepal is the late examination schedule and the result publication. The degree of Nepalese University is not globally recognized as the Australian degree. I have come to realize through my personal experience that I need to hold an international degree than a Nepalese degree, which not only gives me a world-wide recognition of degree, but also gives an international exposure which will make me competent in any field I join in my home country in shaping professional career better and bright.

 Similarly, other than my home country, I started doing research for the available master degree programs, which would focus in Accounting as a major subject for my higher education in abroad study destinations. I came to know that United States of America (USA) is also one of the popular destinations for the international students to pursue their further studies. Citing various factors such as visa processing time, which needs GMAT or SAT preparation and takes longer period of time than expected. Also, I come to know through my independent research that crime rate is higher in USA than Australia and this is also one of the reasons that my family did not support me for applying to American education providers. Regarding affordability, 1 USD is equal to NRs. 102.55 approximately, whereas 1 AUD is equal to NRs. 80.4 approximately, so Australian education would be affordable to me than an American one.

 Likewise,I did not chooseUnited Kingdom (UK)for my higher education, whichwas also one of the most popular destination for Nepalese students before many years but after the change of the country’s policies for new international students, it has been hard and expensive to pursue studies and stay in UK. The living cost and tuition fee of UK is very expensive compared to Australia because 1 UK pound is equal to NRs. 137.9 approximately, so Australian education seems affordable than British. Furthermore, it will not offer any Post Study Work for the international student which was provided to the students before and Australia provides PSW which will help me to gain related work experience in studied field.

 In the meantime, while doing research, I also gave a thought for studying in Canada at once. The reason behind not choosing this country for my further studies is because of its weather conditions. Canada has extreme cold climate and are long. The areas in the country are covered with snow for almost all of its time. The daily average temperature (in winter) is near 5-degree Fahrenheit. Furthermore, there is no provision of Post Study Work to the international students like in Australia. Whereas, Australia has similar weather like my home country.

 While continuing my study abroad research activities, I also got a chance to attend few of the educational seminar organized by European education providers through few of the educational consultancies in my home country. I found that European countries like Spain, Germany and Portugal are popular for higher education degree, but before moving further, I would have to learn their native language which would take longer period of time. So, I will have to face communication problem in living and studying in such countries, so I did not wish to apply for my higher education. Whereas, I will easily be surviving and adjusting in Australia as I can communicate in English.

 The most significant factor for choosing Australia for my higher education, as most suitable destination for pursuing my higher studies is because of its quality of education. As well as Australia has seven of the top ten best universities in the world which offer more 22000 courses across thousands of institutions. Veteran faculty members along with immense student facilities have also attracted large pool of students to Australia. Moreover, the good mix of both theoretical and practical learning have also been a major contributing factor towards attracting students from across the world.

 I am also intrigued after learning that most of the courses available in Australian Universities are internationally recognized and students are provided with different kinds of facilities to help them in studies as well as in personal. This not only helps in betterment of their studies but also make them competitive as such facilities help students fight with the challenges they might face during their studies. Furthermore, Australian universities provide Post Study Work Option which I consider important for graduates as it helps them to become job ready and competitive in market while gaining experiences in related area of study.

 Most importantly, Australian government protects international students’ rights through ESOS (Education Service for Overseas Students) legislative framework, ESOS National Code of Practice Act 2007 which ensures the right of overseas students to study, sign written agreement with the course provider while paying fees and refund system in some cases, protection over tuition fees paid by overseas students and so on.

 Australia is at the forefront of new technology and innovations, most importantly because of the diversity of education, culture and society having friendly environment, excellent education system, undoubtedly which is a home to thousands of international students like me. Australian standard of living is amongst the highest in the world and living expenses are affordable than other countries. The country’s diversity and beautiful landmarks are well-known all over the world. The reason behind why

 I choose Sydney as my study location for master degree program.Sydney is the capital of New South Wales and Australia’s largest city. According to QS best Student Cities 2016, Sydney was ranked 4th best city for international students to live and learn. Sydney is the hub of people from 180+ countries speaking 140+ different languages. That means I have the opportunity to learn a lot of things about the cultures, traditions, lifestyle, etc. of the people from different parts of the world. Sydney offers a relaxed city lifestyle, beautiful and scenic climate, and range of sports, festivals, and other activities throughout the year, which is one of the attractions for the international students. Sydney has been listed in the top most livable cities in the world for many consecutive years, according to Economist Intelligence Unit (EIU).

Reason for choosing Victoria University (VU) for the intended program of higher studies

After doing well research on Australian education providers for the desired program, I came to a conclusion to choose Victoria University, Sydney, Australia for my higher education.Victoria University is established in 1916, which is a dual-sector tertiary institution providing courses in both higher education and Technical and Further Education. It ranks in the top 2% of universities worldwide and 56 in the world’s top 200 universities under the age of 50 (The Young University Rankings 2017). The rich history of VU dates back more than 100 years as an education provider. It also has more than 25 years of experience teaching international students through international delivery partnerships in Asia.

Importantly,Victoria University is known for its industry-focused courses, flexible approach to education, and supportive and culturally diverse learning environment. Its research and international reputation is also regarded as world class. Today, it has more than 40,000 students enrolled in higher education, TAFE and pathway programs. Also, it has an extensive network of more than 220,000 alumni, including more than 28,000 who live and work overseas. Adding to this, learning in the workplace through placements is an important part of VU’s course. Course content is practical and based on industry demand, so one will be job-ready from the day he graduates. Another important point is that it provides student support services such as; counseling, careers, employment, financial and housing advice, full student administration services, etc.

Additionally, the programs designed by VU are delivered by senior academics, experts in their disciplinary fields who also have considerable expertise in international education. It also has on-campus facilities such as computer labs, campus research center (where we can access a range of textbooks), student kitchenette and lounge. With its supporting environment for international students and relatively cheaper tuition fees, I choose Victoria University for further studies and career development. Hence, I am confident that graduating from this institution will set me on the path to career success.

While choosing education provider of Australia for my higher education, I spent enough time in doing research for possible alternative options among Australian course providers and did compare similar course with one another through various sources. Among other universities, I have researched few of the Universities in Australia such as Charles Sturt University, Victoria University, La Trobe,Western Sydney University, University of Wollongong, Southern Cross University and Central Queensland University (CQU). As I am focusing on Accounting subject as one of the major part of the chosen program like Master of Business (Accounting) program of Victoria University, I did not like Master of Business Management with Marketing major or Master of International Business program in Central Queensland University. Also, I found annual tuition fee in CQ University, which has AUD 27,000 annually approximately is expensive than that of Victoria University. I also did research in CSU, for MBA program but I could not find similar course structure in accounting major in MBA with nominal tuition fee like of Victoria University. Though I found MPA program with 12 subjects in CSU which is mostly focused in accounting, but I am looking for mix subjects of business with accounting major like BMAK of VU. So, I did not choose CSU as well. I also did not choose RMIT for Master of International Business or other similar program because of having 1.5-year duration with above AUD 29,000 annual tuition fee, whereas I found my intended program in VU with 2 years duration and also found desired course structure. Likewise, during my research time, I got a chance to meet university representative of James Cook University (JCUB) and I got introduced with a dual degree program named MPA/MBA, but as per my interest of areas, I realized myself having passion on Business subject with Accounting major, which will help me to find a managerial role in near future, so I found Master of Business: Accounting specialization much better than that of JCUB’s program. Also, JCUB is located in Brisbane and I want to study in Sydney. When I met representative of Macquarie University in my home town in one of the educational seminar, I was introduced with management and accounting program for my master degree, and also got offered country scholarship of AUD 3000 and Vice Chancellor Scholarship of AUD 2000, but after going through the program structure and annual tuition fee which is above AUD 30,000, I did not feel likely to apply for this education provider. I got much satisfied and convinced by course structure of Victoria University than Macquarie University.

In Overall, I mentioned the reasons above on why I choose Victoria University, due to those influencing factors, I found no interest in applying for few other Universities on which I researched like Monash University, University of Sydney, Australian Catholic University, etc.This is my best decision ever that I choose Victoria University for my higher education, which offers me a right program for my higher education.

Reason for Choosing Master of Business Accounting (BMAK)

In my view, acquiring knowledge of accounting will not only be extremely useful, but also personally rewarding and enjoyable. Accounting has always been an interesting subject from my school level.  It is a fascinating area of study and one that I will certainly be able to apply to my future work.

I gained some basic knowledge on accountancy during my schooling as I studied accountancy from 8th to 10th grade in school. I used to find the subject very interesting but my further studies in 10+2 and in Bachelor helped me a lot in realizing the true essence of the subject in world's economy and its contribution in the development of a nation.

 After learning about the career opportunities in Accountancy, I became more interested and came to a decision that I want to become one of the successful Professional Accountant or Financial Advisor in one of the reputed business organization in my home country. Therefore, I decided to gain specialization in accountancy in a renowned institution in the world.

 To attain the Master of Business (Accounting), I will be required to complete 192 credit points (equivalent to 16 units).During the two years of study I have to study subjects like:

·         Business Economics

·         Enterprise Resource Planning Systems

·         Marketing Management

·         Work and Organization Systems

·         Managerial Accounting

·         Accounting Systems and Processes

·         Business Finance

·         Business Research Methods

·         Business and Company Law

·         Financial and Corporate Accounting

·         Professional Auditing

·         Business Ethics and Sustainability

·         Issues in Contemporary Accounting

The course offered is accredited by CPA Australia and Institute of Chartered Accountants Australia and New Zealand, which will be an advantageous value to my resume later when I graduate.

As per my web research through web On successful completion of this course, students like me will be able to:

 Critically reflect upon theoretical approaches and analyze their application to achieve effective accounting practice.          

·         Justify and interpret theoretical propositions and related bodies of knowledge to critically evaluate the resolution of business problems and make recommendations/recommend actions in authentic/contemporary business settings.        

·         Critically apply cross disciplinary knowledge in decision making with creativity for emerging professional accounting contexts.  

·         Demonstrate accountability in autonomous and collaborative judgements and innovative strategic thinking in response to contemporary and future business/ accounting/ professional challenges.           

·         Work as a reflective practitioner to formulate, implement and evaluate industry- specific investigations to resolve complex professional problems and inform management decision making.  

·         Communicate effectively to specialist and non- specialist audiences including multi-disciplinary teams, diverse cultural communities and business and other professional organizations.    

·         Exemplify initiative and inspirational leadership in a dynamic 21st century work environment, acting consistently, ethically and socially responsibly and so on.    

In overall, I am confident that, after completing this program, I will be able to place myself in one of the reputed business organizations as a Professional or General Accountant, Management Accountant or even as a Business Development Officer.

 Future plans after finishing intended program from Victoria University

In spite of being a married woman, I have never given up on my zeal to study and I will put my best efforts to build my career. I am dedicated, energetic and determined to achieve what I have striving for from my early age. It has always been my aim to become a Professional Accountant and I will continue to do whatever I can by any means to achieve my aim. I hope that gaining an international degree from such a reputed university will surely help me shape my career and drive into the right direction.

In recent years, my native country Nepal has experienced quick development in business world. Since the scope of businesses has started to grow rapidly in my country, many students are attracted towards management stream for their career. Graduates from internationally renowned institutions are always high in demand in my country and I hope that after earning an international degree I will fit the position and soon join a reputed organization.

 After completion of my study in Australia, I will return back to my home country and soon will be seeking for job as Professional or Senior Accountant in one of the reputed companies of Nepal. As per my research on incentives of accountants in reputed organizations I expect to earn per month salary NPR 60000 to NPR 80000 along with some other facilities as per the terms and conditions of the organization whichever I will join in near future.

Some of leading business organizations of my home country, where I can work as a Professional Accountant or Financial Advisor after gaining international degree, specialized in Accounting from Victoria University are: -

·         Jyoti Group

·         Sipradi Trading Concern

·         Chaudhary Group

·         Surya Nepal

·         Dabur Nepal etc.

 

Alternatively,as I am going to  study Master of Business (Accounting) program in Victoria University and after gaining a degree,  as an alternative employment opportunities other than above mentioned areas,   I can also seek any of the reputed professional post as a Treasurer, Risk Analyst,  Commercial Banker, Loan Officer and so on in various Financial Institution and Banking Institution such as Standard Chartered Bank, Nabil Bank, Everest Bank, Century Bank, Laxmi Bank, Nepal Investment Bank, Civil Bank, Kathmandu Finance, Kantipur Saving and Credit Cooperative Ltd and so on. I can also work as a BusinessDevelopment Officer or Bank Officer/Manager in these financial and banking institutions.

 And apart from these, there are also other ample options like NGOs, Government jobs as Senior Accountant where I could differentiate myself with the use my skills and knowledge that I have learnt in Australia. Moreover, I would like to work in international level for some years so that I could have a good experience and laid them for starting my own Audit Firm.

 It is very clear and I am confident that, I will be able to gain return on my investment after I start working in intended areas slowly and gradually back in my home country. As my both families have agreed to invest tuition fees, I am prepared to invest my time and effort for the nominated program, I have no doubt that I will be able to get per month salary package ranging from NRs. 8 Lakhs to NRs.10, Lakhs being Senior or Professional Accountant with an international degree, exposure, skills and experience in one of the reputed business organizations, which I have explained above.

Incentive to return Home Country

Apart from my career plan, I along with my husband fully intend to return to Nepal, as he is the eldest son of the family and he has to take charge of the properties and we will have to help our parents in expanding family businesses in future. And also, we will have to look after our parents in their old age. Moreover, we will also have to support my husband in his further career in his profession after returning back to Nepal.Furthermore, since my in-laws own a construction company, after some experience, I will also help them to expand and make the business more successful in future. As I do have a long-term vision to settle professionally back in my home country, I will be walking closer to achieve my future goal after gaining an international degree back in my home country.

 

 

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