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MACC Masters Application, Indian Applicant

November 28, 2013

I am a Company Secretary and Bachelor of Commerce and Master of Commerce holder from India, now residing in Arizona. After I moved to the United States with my husband, I took and passed all four examinations to qualify as a CPA with the Colorado State Board of Accountancy, at my first attempt. I am also a member of the Arizona Society of Certified Public Accountants.

 I am aware of the considerable reputation of the faculty members and of the School itself especially in the area of research. I am particularly interested in the work of Drs. XXXX and XXXX in the areas of auditing and corporate governance. I also know that there will undoubtedly be numerous well qualified applicants for the program for which I am applying. However, I feel sure that my very broad professional background and experience, my substantial academic record and my personal qualities of determination, academic curiosity, diligence and leadership together with enthusiasm and passion for my subject will enable me to be an asset to the MACC program at the School.  I am confident that I shall be able to provide considerable interesting and practical ‘yeast’ to my class in the program by reason of my experience. I should also hope to provide input into research, in such areas as auditing or corporate governance in which I have ‘hands on’ experience and feel sure that I could provide benefits to the academic community in this way.

 After passing my school matriculation in India, I decided to take a course in commerce.  The main subjects that I studied on this course were accounting and business studies. I quickly became fascinated with accounting and could immediately appreciate how it impacts on the decisions made by managers of businesses and the success, or otherwise, of every business enterprise. I was hooked from my first class in the subject and have become increasingly engrossed and passionate about it since that time.

 Having completed the initial commerce course, I studied for a Bachelor of Commerce degree at Delhi University and subsequently a Master of Commerce degree at Kurukshetra University in which the focus of study was on the topics of financial accounting, costing, auditing, income tax, management accounting, business statistics and financial management.

 Along with the Bachelor’s and Master’s studies, I decided to seek a company secretary (CS) qualification to supplement my academic achievements and to make myself more useful to a potential employer. I was admitted to the Institute of Company Secretaries of India. I acquired CS certification by examination and by completing an internship. Gaining this certification involved a rigorous course of study which included courses in Company Law and Practice, Company Accounts Theory and Practice, Economics, Cost and Management Accounting, Financial Management, Corporate Tax Management (direct and indirect taxation) and Management Control and Information.  In order to qualify, I was required to complete a fifteen month internship; I did this training with Sunil Kumar and Co., a very prominent and prestigious Indian organization in this field. I was very fortunate to have been mentored by a very senior and highly experienced manager within the company and because I was mentored by someone at this level, I had the opportunity to become involved in the company’s work for some major clients such as Nestle and Atlas.

 Subsequently I gained general experience as the accountant for a small company. This was a very good decision for someone so recently qualified as I had to do all the accounting and related tasks involved in the running of any company from the smallest to the very largest in the world. As a consequence I accumulated very broad experience over a short period of time. I did everything required of an accounting department in any company, from the basic tasks of maintaining the ledgers, bank reconciliation, cash flows etc. to the most important, such as the preparation of management reports and financial statements and handling the tax affairs of the company. I believe that this experience provided me with the best possible background and foundation in practical accounting that could be designed.

 After three years of employment, I decided to set up my own accounting firm. This was an exciting and challenging experience and involved the, new to me, skills required in the marketing of a service. I learnt something of the importance and art of creating and maintaining business contacts in order to attract new clientele. This experience was another important step in my professional progress and taught me a great deal about myself and about the practicalities and day to day difficulties and decisions required of entrepreneurs. I would suggest that running their own small business, and so putting themselves in the shoes of their future clients, is something that all those wanting to work in the world of accounting should attempt. However I soon realized that it was perhaps too early in my career to have made such a choice and decided to seek more experience in a corporate environment.

 To gain broader experience, I decided to join a 100% export oriented manufacturing and trading organization. My knowledge was put to the test when I was asked to obtain the orders of Amalgamation for two associate concerns of Taurus India Limited. This was a huge assignment for me that involved preparing a prospective Balance Sheet for the company, finalizing the creditors and debtors accounts, discussing with the directors of the company the financial arrangements for the organization, working with the statutory auditors of the company and, not least, making arrangements with the bankers. I was able to obtain the orders of amalgamation from the High Court in the very short time length of six months.

 My subsequent employment, including some time with a major world corporation, involved me in a very great variety of accounting and related activity including regulatory compliance, management accounting, payroll processing, and risk assessment.

 Thank you for considering my application to join the MACC program.

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