SOP Diploma of Accounting

 

 

STATEMENT OF PURPOSE

 

With due respect, I am submitting this SOP to Australian High Commission New Delhi, as one of the requirements to apply for student (subclass 500) visa and I am thankful to XXXXXX Institute, XXXXXX, Australia for offering me an opportunity to study Certificate IV in Accounting and Bookkeeping leading to Diploma of Accounting. Through this statement of purpose, I express my desire and provide reasons for selecting the country, city and course for my higher education.

Personal Introduction & Family Background:

I am XXXXXX, younger of the two sons of XXXXXX and XXXXXX. We are all permanent residents of XXXXXX. I hold a Nepalese passport numbered XXXXXX & my date of birth is XXXXXX. I belong to a small family including myself, my parents and my brother. All my family members except me are earning. My father works as an officer at XXXXXX. My mother is employed as a primary teacher at XXXXXX. My elder brother, Mr. XXXXXX, works as a secondary level teacher at XXXXXX.

Academic Background and IELTS:

I have had my entire schooling in Jhapa so far. I completed my SEE (Secondary Education Examination) with 3.05 GPA from XXXXXX in 2018. Then I joined XXXXXX to study Management and completed my School Leaving Certificate (Grade XI and XII) in 2020 with 2.93 CGPA. As I had my focus on studying in the future, I joined a training session on “Accounting Package” for three months in 3^rd November, 2018 and completed it in 5^th April, 2021.

Reasons Why I Want to Study Outside Nepal:

Leaving the motherland, family, relatives and friends is not an easy task for me but as far as career is concerned, I had to make a wise decision.

The education system of my country is not on a par with that of other advanced countries. There are some loopholes which need to be addressed in order to fine-tune our educational system. Nepalese education system focuses mainly on theoretical concept rather than practical implication. There are many subjects to study but their application is few and far between. A theoretical knowledge simply does not qualify someone for the job. They got to have some skills they can apply to their work, which is not the situation here and that creates unemployment. The educational system here in Nepal is predominantly based on rote-learning, and is teacher and exam- oriented. This system has made the students focus more on passing exams rather than gaining knowledge. There are no proper laboratories and equipment for the practical study. Many students who have gained knowledge are also not able to apply due to lack of opportunities. The curriculum development is also not satisfactory. The syllabus/courses are not practical and relatable to the current situation of the world. Furthermore, educational planners are not able to work in the area of the adaptation of a multi-dimensional, flexible and dynamic education system, which serves people according to their ability and aptitude and is responsive to their economic, social, and cultural needs.

The educational institutes of Nepal are not well facilitated with modern teaching equipment and quality instructor for practical training and know more about the real working situations and conditions, whereas the Australian education is mainly focused on practical knowledge and live project. Besides all these, I did some research for continuing my further study in Nepal. There are altogether four main universities in Nepal. They are Pokhara University, Tribhuvan University , Purbhanchal University  and Kathmandu University  and it is important for me to choose the right education provider for my future study.

After completing my 10+2 examination, I personally visited and consulted with some of the management colleges in Nepal including Nepal Commerce Campus , Shankardev Campus , Ace Institute of Management , D.A.V College , Prime College,  Asian College of Management and Technology and so on. I found that all these institutions give more emphasis on theoretical knowledge which was the same as I predicted. They do not have enough resources for conducting theoretical and practical classes. I came across this fact when I consulted with several seniors who were studying in these above-mentioned institutions. I have seen my seniors who have completed the study unable to land them good jobs. They say they have theoretical knowledge but lack competence that is expected of them for better performance when they enter the job market.

Moreover, we have to undergo a four-year course in any Bachelor Level program here in Nepal, whereas we can complete the same course in 3 years in Australia. This offers us a prominent benefit as we can channel our resources into career-building much earlier than it is possible while in Nepal. Therefore, in order to equip myself with professional and personal skills required for ensuring better career prospects, I believe abroad study is a much better option.

Reasons for Selecting Australia:

Once I decided to study outside Nepal, I had to choose one of the best study destinations. So, I carried out some research about foreign study through the internet. I came to know that the USA, UK, Canada, Australia and some European countries are the major educational destinations for international students. Finally, I chose Australia because of its high quality education and globally accepted degree. Furthermore, the cultural diversity, friendly natives and project-based education of Australia encourage every student to study there. I chose to study in Australia because of the following reasons:

·        Australian education providers impart innovative, practical and scientific research- based education with project-based learning methodology and modern teaching equipment at an affordable rate, which sets them apart from other education providers across the world.

·        There is quality education with professional learning programs based on “learning by doing” teaching methodology.

·        Being a technologically advanced country, Australia provides students the opportunity to take advantage of the country's impressive technology and research resources increasing their expertise.

·        It also is a multicultural, safe and diverse country where we get a chance to explore international culture and it will be easy to adjust and study in such environment.

·        There is high quality education with affordable tuition fee and living expenses.

·        One of the most attractive features is its favorable weather for exploring and studying.

·        Australian education frameworks help to protect the rights of international students studying in Australia, like Education Services for Overseas Students (ESOS), Australian Qualifications Framework (AQF), and Tuition Protection Service (TPS) which are designed to support and ensure the standards for international students in Australia. Besides these, Overseas Student Health Cover (OSHC) gives international students a level of health insurance coverage that is based on the Australian Medicare System.

·        Australian Government provides PSW (Post Study Work) to students after the completion of their course which helps students to implement theoretical knowledge into the practical domain and build-up their career goal through the international work experience.

·        The Australian education and the globally recognized international degree provide students a competitive edge to build better career prospects upon their return to their home country.

Besides this, Australian Universities and Colleges have updated, modern, equipped, organized and systematic education system. The education system is career-oriented with scientific research-based learning which makes students up to date with modern technology. I have decided to pursue my higher studies in Australia in order to enrich myself with professional expertise in a multicultural environment.The number of people who have gone to Australia as international students now exceeds 2.5 million, and many of them have gone out to make a difference in the world. Eminent figures that left their marks in humankind history were once students in this country. I have the same desire: to make a difference in the world, at least in my society and country.     

Reasons for Choosing Sydney:

Sydney is one of the most livable cities in the world which provides a welcoming and multicultural society, excellent education system and vibrant business environment, where I can harness my knowledge and skills. Almost nine out of 10 international students studying in Sydney would recommend the city to their friends as a place to live and studying in Sydney opens new horizons for everyone who chooses it for studies. Sydney is home to many top educational institutions,  including Macquarie University, University of New South Wales, University of Sydney,  University of Technology Sydney and Western Sydney University with University of Sydney and University of New South Wales in the global top 50. It is the capital of New South Wales and famous for landmarks like Opera House and Bondi Beach. According to internet reports, it is a fantastic place to live, study and carry out research activities. However, for me, the most important reason for choosing Sydney is its similar weather conditions with Nepal-neither very hot nor very cold. Another reason for my attraction towards Sydney is that I can fully enjoy the attractions of the city during vacation and leisure time. The city offers a great chance to explore top global companies, leading professionals and different ways of life and profession. It will provide tremendous learning opportunities for me.

Reasons for not Choosing Other Developed Countries:

During my research, I found that the Australian education system is much more organized, systematic, affordable, updated and in favor of students than other popular alternatives like the USA, UK, New Zealand, Canada and European Countries. In the USA, I found that universities require test scores of SAT/ACT which takes 7-8 months of preparation time. Apart from this, it is really difficult to continue education in the USA unless students get university grants or scholarships which are really competitive. The duration of Bachelor courses in the USA is of 4 years, a year longer than in Australia and the tuition fees and living expenses are also high.

The frequent alteration in UKBA (UK Border Agency) immigration policies has made me aware for not choosing the UK as my study destination as the changes affect the UK’s education system and also the students studying there due to which the future of hundreds of international students in the UK is left in the lurch.

New Zealand is also an upcoming destination for higher education and also provides good quality education and a student also gets a 1-year job search visa but post study work is still hard to find there compared to Australia where students receive a 1-year post study work visa after Bachelor’s and 2 years after Master’s degree, which helps students to implement theoretical knowledge into the practical domain and build-up their career goal through the international work experience. For enrolling in a few countries like Germany, Spain, France, Japan, etc., we need to pass a regional language exam which discourages students as it consumes more time to pass the tests. In Canada, it is primarily difficult to live since it is extremely cold throughout the year, whereas the climate of Australia is variable as in Nepal, therefore, it will be easy to adjust. Amicable teaching-learning environment in Australia, which is nowhere to be found in any other countries, has been another biggest factor for not choosing other countries to pursue my education further.

Reasons for choosing Diploma of Accounting:

Among other subjects, I studied “Principles of Accounting” in my secondary level education. This was one of my favourite subjects, and I decided then to continue my higher studies in the same subject. Diploma of Accounting offers a broad understanding of the concepts and practices of accounting, supported by related areas in finance, law, economics, marketing, information system, management and statistics. Having an accounting degree provides us with an ideal platform for success in any business career. It develops our thorough understanding of the core principles of accounting, giving us the skills required to perform a variety of accounting-based roles in any business sector. After completing the diploma, a student is generally able to analyze and evaluate the financial position and performance of an organization through the examination of financial and non-financial data. Similarly, one can acquire the skills and ability to work effectively in a team environment and communicate knowledge, skills and ideas to others in different contexts: organizational, industrial or global. This era is business-oriented era and every industry needs an accountant. So, acquiring this diploma will open many career opportunities to work on international or national platforms.

Course Contents:

The course Certificate IV in Accounting and Bookkeeping  (CRICOS CODE: 097440G) is delivered in 52 weeks in four terms, including 12 weeks of term breaks and holidays. Students need to complete 13 units of competency (8 core units and 5 elective units) to attain the qualification. The details of the course are as follows:

Unit Code	Unit Name
Core
BSBFIA401	Prepare financial reports
FNSACC416	Setup and operate computerised accounting system
BSBITU422	Use digital technologies to collaborate in the workplace
FNSACC312	Administer subsidiary accounts and ledgers
FNSTPB402	Establish and maintain payroll systems
FNSACC311	Process financial transactions and extract interim reports
FNSACC408	Work effectively in the accounting and bookkeeping industry
FNSTPB401	Complete business activity and instalment activity statements
Elective
FNSINC401	Apply principles of professional practice to work in the financial services industry
FNSACC412	Prepare operational budgets
FNSACC414	Prepare financial statements for non-reporting entities
FNSACC413	Make decisions in a legal context
FNSACC313	Perform financial calculations

Next, I will study Diploma of Accounting (CRICOS CODE: 097441F). This course is delivered in 52 weeks in four terms, including 12 weeks of term breaks and holidays. Students will need to complete 11 units of competency (6 core units and 5 elective units) to attain the qualification. The details of this course are as follows:

Unit Code	Unit Name
Core
FNSACC511	Provide financial and business performance information
FNSACC512	Prepare tax documentation for individuals
FNSACC513	Manage budgets and forecasts
FNSACC514	Prepare financial reports for corporate entities
FNSACC516	Implement and maintain internal control procedures
FNSACC517	Provide management accounting information
Elective
BSBLDR402	Lead effective workplace relationships
FNSACC405	Maintain inventory records
BSBMKG501	Identify and evaluate marketing opportunities
FNSACC505	Establish and maintain accounting information systems
BSBITU402	Develop and use complex spreadsheets

 

The final course that I will be attending at XXXXXX is Advanced Diploma in Accounting (CRICOS CODE: 097442E). This course will be completed in 78 weeks (including 18 weeks of breaks and holidays). Students will need to complete 14 units of competency (3 core and 11 elective) to attain the qualification. This course has the following details:

Unit Code	Unit Name
Core
FNSACC624	Monitor corporate governance activities
FNSINC601	Apply economic principles to work in the financial services industry
FNSINC602	Interpret and use financial statistics and tools
Elective
FNSACC613	Prepare and analyse management accounting information
FNSACC608	Evaluate organisation’s financial performance
FNSACC605	Implement organisational improvement programs
FNSACC602	Audit and report on financial systems and records
BSBFIM601	Manage finances
BSBMKG608	Develop organisational marketing objectives
FNSORG602	Develop and manage financial systems
FNSACC601	Prepare and administer tax documentation for legal entities
BSBFIA412	Report on financial activity
BSBMKG515	Conduct marketing audit
BSBSMB402	Plan small business finances

Why Vocational Education Training (VET) Course?

The decision to choose a diploma over a bachelor’s degree is a very important career decision of mine after looking at all the facts. I believe in an ever-changing and competitive job market. Vocational education can make someone more able to accomplish their career and life goals than a degree can. The main focus of VET courses is to provide practical skills. Due to the practical nature of diplomas, the amount of time spent learning and completing assignments will be greatly lessened.  It is more course-centric, which means the courses are in depth with industry expert trainers on the field one is passionate about. The other good point is Diplomas can be completed within a year or much less which will help me to enter the workforce and reap the benefits sooner. Moreover, VET graduates achieve a higher employment rate than bachelor degree graduates. As per some research, 78% of VET graduates are employed after training and are able to find work after their studies. This exceeds the number of jobs found by Bachelor degree graduates. VET courses are suitable as they provide frequent intakes for studying. Hence, I took such a decision.

Why XXXXXX?

After my own research and counseling by Australian counselors, I decided to choose XXXXXX Institute Australia for my study. I went through other educational providers’ websites too and compared the course structures, tuition fees and other facilities with XXXXXX Institute Australia, some of which I have tabulated below:

Course	Institution	Duration	Fee
Diploma of Accounting	Abbey College Australia	52 weeks	14,000
Certificate IV in Accounting & Bookkeeping	Business Institute of Australia Pty Ltd	52 weeks	12,000
Diploma of Accounting	Australian Harvard International College Pvt. Ltd.	74 weeks	16,250
Diploma of Accounting	Supreme Business College Private Limited	77 weeks	12,000
Diploma of Accounting	XXXXXX Institute	52 weeks	10,000

 

Therefore, for the same course, the tuition fee in XXXXXX is cheaper than many other educational institutions in Sydney. Moreover, the total cost of XXXXXX is also inclusive to OSHC of AUD 1,237 for the study period which is why I chose to study at XXXXXX.

XXXXXX is centrally located in Sydney CBD area, which makes transportation easier as there is a train terminal within 2 minutes of walk. From their website, I learnt that XXXXXX has trainers from over 13 nationalities with international students from 35 different countries which has created multicultural environment equally enhancing the learning with distinctive teaching methods. The scholarship for well deserving students will certainly encourage the students to become best in the mass. Due to stretchable class timetable, I can choose to take further morning or day or night classes with additional privilege to choose class day from Monday to Saturday as well. The internship and placement facilities in XXXXXX also will help me to sharpen my knowledge for better career in the future. What I actually loved is that XXXXXX provides high quality education with industrially experienced trainers who believe in multicultural environment which will amplify the student’s skill as they have opportunity to blend in the new environment that also increases the interaction between the students. The small classroom sizes, industry-based training materials, industry experienced academic contingence are some of the features that force me to enroll in the XXXXXX. I am anticipative for XXXXXX to be the best education institution for international students like me to successfully achieve the future goals.

Financial Arrangement:

My family is my strength behind all my success and any decision I make for my future. They have always been supportive towards my every decision, and my family is going to bear all the living expenses and tuition fees during my stay in Australia. My family has sound socio-economic ties in my home country and they are aware of my tuition fees and living expenses. My father receives NPR. 480,000.00 annually from his job at XXXXXX. He also earns a total of NPR.504,000.00 as rents from his flats rented to XXXXXX of XXXXXX. Another source of annual income for my father is the land (plot no. 109) leased to XXXXXX, from where he receives NPR. 450,000.00. My mother’s annual income from her job at XXXXXX is NPR. 195,000.00. My brother earns an annual NPR. 384,000.00. from his job as a teacher at XXXXXX. The total annual income of my family, therefore, is NPR. 2,013,000.00 This is equivalent to AUD 23,428.77 as per the exchange rate calculated on February 21, 2022. For my expenses during my stay in Australia, my parents has issued a education loan of NPR 3,500,000.00 at XXXXXX. , which is equivalent to AUD $ 38619.20 as per the exchange rate dated 10^th March 2022. Therefore, I assure that I shall have no difficulty managing my expenses for my education and stay in Australia. All evidences are attached herewith.

Future Career Plans:

My primary aim of pursuing a degree in Accounting is to be back to Nepal and carry my family business forward. I want to assist my father in his business of land lease and further add the inherited property. Every company requires accountant, so there is a lot of different career options and paths for me in the accounting field in Nepal. It varies from general bookkeeping, internal auditing and preparing taxes and reports to seniors like financial directors and chief accountants in both private and public sectors including INGOs, government departments, banking and financial institutions, industries, Multi-national Corporations and Business houses. I am aiming to build my career as Professional Accountant either at national and multi-national organizations like CG Company, Dabur Nepal, Golcha Group, Unilever, Khetan Group and Bottlers Nepal. Likewise, I can also seek my career as Financial or Credit Officer or Auditor in banking and financial sectors including ‘A’ commercial banks of Nepal, namely NABIL Bank, Himalayan Bank, Everest Bank, SBI Bank, Nepal Bank, Rastriya Banijya Bank and so on. I can also start my career in different business houses, Tele Communication houses like NTC and NCELL, different governmental organizations like Ministry of Finance (I can apply in this sector only after clearing the exam of public service commission). I thus, believe that both the investment of my time and money in Australia will be well rewarded. It shall help me be successful in promoting my family’s business and assets, while providing me the opportunity to secure a very well-paid job. In terms of finding job opportunities after returning to my home country, there are various advertising agencies and outsourcing company i.e. www.merojob.com, www.JobsNepal.com, CMS Nepal etc. which advertises number of vacancy available throughout the country. Besides that, I will also be able to know about the job vacancy with the help of National newspaper like The Kathmandu Post, The Himalayan Times, Republica etc.

After gaining the best experience in different organization and expanding the business links, in the long run, I intend to offer consulting services at affordable rates so as to help all classes of businessman. It is a fact that more than 80% of accounting graduates enter employment within six months of graduation, and this applies to my own country as well. With the increase in business entities in this developing country, Nepal, there is also the rise in demand of personnel in the management, especially in accountancy field. Due to the booming development of the business and industry, many new companies are established for catering the needs of people. This has facilitated a huge demand of workforce in the market. There are certain specific skills and knowledge required in the field of accountancy which cannot be addressed by the common workforce in the modern global world and that is where a student of accounting like me will be best suited for. There’s no doubt about the fact that after the completion of my degree from XXXXXX Institute Australia, I will stand as one of the qualified students in the sector of accountancy and management which will develop my confidence in overall aspects required for being a competent professional in this sector.

As Nepal is a developing country, there are many uncovered areas that can be identified to fulfill the needs and demand of people at its best. The manufacturing and service sector is one of the major priorities for the development at present here in Nepal. The government is launching various programs to attract more and more national and international investors for carrying out the various projects of development, such as railways, hydropower, etc. and also in business and industries. Increase in investments means increase in the number of business and organizations. So, the future of career in accounting can be seen bright here in Nepal in the coming days, as there will be more demand of accounting graduates in my country and to fulfill this demand, I believe my qualifications will be the competitive advantage for me in the competition to get the best position.

Incentives to return to the home country:

Firstly, after studying in Australia, I will be equipped with new ideas which will certainly help me to increase the productivity of my own skills and knowledge. Nepal is missing out on new ideas and innovation in the industrial business as well as organizational level. As we are limited with our ideas and everything, what we think about is already tried out. So, I want to bring in creative and innovative ideas and be the part of on-going globalization in Nepal. I also want to broaden the scope of my knowledge for the Nepalese students just like me. But in my nation, graduates with Australian qualifications are highly prioritized in the employment sectors creating a blend of possibilities and career opportunities. We are a developing country and there are a lot of things that are still considered unfamiliar areas. And this is perfect for me because I see opportunities for growth at every corner. Bringing in new ideas from developed countries and bringing back the experience, I can contribute to my nation in exactly the same way that it needs right now. Hence, I hope that it would be relatively easier for me to get the job opportunities within Nepal compared to my peers who complete their degrees here in Nepal.

On the other hand, I will definitely not choose hard roads by living in Australia because my career, dream and my future will only be fulfilled here in my home country. So, I will return to my home country and mobilize my skills, qualifications, core competencies, international experiences and exposure for the sake of my country. Social responsibilities also serve as yet another incentive for my home returning and I am determined to shoulder this responsibility in the best interest of my society and country by harnessing the knowledge, skills and expertise gained in Australia in the development of the business and financial sectors of our country.