Finance is a broad term for things about the science, development, and management of funds and investments. It includes financial markets such as stock exchange, bond market, commodity market, and financial derivatives. The study of financial markets is termed as Finance. Finance deals with financial institutions such as banks, mutual funds, investment banks, credit unions, mortgage banks, and money market funds. This also includes the money market funds and other financial trading instruments.
Banks are the major users of Finance. They make loans and adopt various financial products such as advances, mortgages, credit, deposit and savings accounts. They undertake various activities such as collecting payment, maintaining books, developing credit, manufacturing cash, and dealing in securities. Financial products offered by banks include commercial loans, business loans, mortgage, corporate bonds, negotiable bonds, currency exchange, commodity futures, securities, treasuries, insurance, and repo. Other activities undertaken by banks include distribution of payments between customers, underwriting, and insurance matters.
The major purpose of any company is to create a balance between the finance and the resources. Therefore, the accountants are instrumental in creating reports that display the results of the financial transactions made by the company on a day-to-day basis. A financial analyst performs the role of an accountant but is not an employee of the organization.
A number of companies create a combined team of both the banking and the corporate finance departments so that the companies can concentrate on their own specific needs. Finance and accounting combine to form the dual core of banking. Therefore, the combined team provides banking solutions as well as effective accounting process for the companies. In addition to banking and accounting, they also offer investment banking, asset management, and portfolio administration.
Finance graduates can use these courses to get entry into the field of finance. A graduate may start his career as an accounting assistant or office finance clerk, eventually moving up to higher ranked positions. The positions may include bank manager, finance director, or CFO. There are numerous finance jobs in the market and therefore, the number of applicants will be very large. Finance departments need experienced personnel so that the newly hired employees can manage the finance department efficiently.
Graduates can use the courses to improve their financial services knowledge and their analytical skills. These skills can help them progress further and increase their pay scale. The main course that is offered is the degree in accounting. Some other courses also help finance students understand the nature of the financial services sector and the importance of the banks and financial markets. The subjects that are important in this degree include statistics, behavioural theory, decision sciences, economics, risk management, and banking.
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