Everything You Need To Know About A Degree In Finance And Scope Beyond The Degree!

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What is the most embarrassing situation when at a family gathering? Well personally growing up in a family of doctors and engineers, I always faced the question of what next after pursuing finance. So, for all you students out in the world, wondering what to do after completing a degree in finance, here is a cheat sheet for you.

What is financial accounting?

We all know what accounting is. Financial accounting is a branch of accounting focusing on the financial transactions of a company. It helps create a financial report for every financial year and helps the company maintain a clean slate with the income tax department.

How is financial accounting different from regular accounting?

Accounting is mainly about the regular transactions within a company, while finance deals with asset and liability management and develops and adopts different strategies and plans to secure the future of the company. To get a better understanding and to make the best choice for the future, one should clear out all doubts. To help the students make a choice, smart asset provides great support.

Role of financial accounting in decision making

First, financial accounting enables investors to create a baseline for analysis. It helps to make comparisons and draw conclusions about the financial health of corporations dealing with security measures.

Second, it helps determine the certification of the business, the cash flow and the future of the company in terms of wealth.

Third, a combination of financial accounting and managerial accounting helps to acquire resources not easily accessible.

Job opportunities for finance graduates

  1. Actuary

The most important opening for a finance graduate is that of an opening for an actuary. For any business directed towards financial idea like that of insurance, banking and accounting firms depend on actuaries for a lot of their work to be completed. A finance graduate with a clear and incredible understanding of mathematics has a bright future in such firms. The main role of such a position is to determine the probability of different events and what will be the financial repercussion of these events.

  • Fiscal estimate analyst

On receiving the salary on payday, we all make a budget estimate so that we can plan our expenses accordingly. Planning helps easier expenditure and saving. Similarly, for any company the role of a fiscal estimate analyst also known as a budget analyst is crucial. They are responsible for analyzing budgets and determine the financial impact of the existing and new projects undertaken by the company. Such openings are there in different sectors including educational, governmental and non-profit organizations too.

  • Finance analyst

The role of a financial analyst is to research market values of stocks, worth of a company help assist industries to support bankers and investors with acquisition and offerings of bonds and stock. They also make a decision in corporate restructuring and expansions. They are required to make complex finance exemplary and carry out analyses of complex quantitative order. After all of it, they prepare financial reports to analyses the financial status and worthiness of the company.

  • Chartered accountant

The first group of accountants to form a professional body for accounting was the chartered accountants in Scotland. They can work in both the public sector and practice in private firms. They are involved in all major areas of business and finance. They carry out auditing, helps a company files its tax returns, and controls the financial and general managerial aspect of all kinds of business organizations.

Financial accounting and decision making

  1. Decisions for investment

Fundamental analysis is the process of analyzing the innate value of an asset. The ultimate motive of a fundamental analyst is to determine a quantitative value for an asset that can be compared to the asset’s current value to determine the worth of the asset. This helps determine if the asset is overpriced or underpriced.

The process of fundamental analysis depends on a lot of calculations which are based on the company’s balance Sheet, statement of income and the in-flow and outflow of cash in the company. Before investing money within a company, investors, therefore, determine the worth by using fundamental analysis.

  • Decisions for lending

Just like in real life, when lending money to a friend, we weigh the pros and cons of the act, similarly, for every company; there is a major decision to be taken before lending money. This is mostly applicable to the banking sector.

A thorough understanding of finance is required before lending money because the lenders need to determine the creditworthiness of the company. They also must evaluate the company’s balance Sheets and tax returns. Only a clean balance sheet and tax return ensure that the lender lends money to the receiver.

  • Governance of the investor and lender itself

It is very crucial for the investor and the lender themselves to secure the future of themselves and their companies. To ensure that, they are dependent on financial accounting.  Unless the companies meet their financial needs, they will not be able to fulfill the legal and regulatory rules outlined by the government.

Maintain their own records also help them plan a budget, track the actual expenditure, track efficiency of the project in question and develop strategies to benefit the company at the end.

To conclude, a degree in finance is extremely relevant in today’s age. Because if a business doesn’t flourish, there will be no job openings for other sectors. Degrees in finance will not only help an individual secure a job in a public or private firm but also help in successfully running their own business. It will help them plan, track and analyze situations.

This will help them predict and prevent unforeseen risks and maintain good financial health of the company.

Financial Degree Will Allow Individuals to Apply For Hosts of Jobs

A lot of opportunities can be unlocked once an individual earns a proper financial degree. Anyone with the remotest of connection with modern civilization should utilize money in a proper way.

Most of the people are in search of money leaving aside a bunch of hippies and sages. To help an individual reach that goal, studying finance is particularly essential.

This form of education guides students as to how transaction of money is being conducted from one form to the other, how effectively Wall Street enacts to trade the stocks, how well corporate bonds and governmental sectors are managed, orchestration of mortgages, ebb and flow of wealth and finally how to navigate a complex maze of economy.

Studying finance, one cans also a host of related fields like business, accounting and economics? Thus, if one is really interested to learn an answer to all the questions mentioned above, financial studies are the key to making you accustomed with all the basics.

With a proper financial background, one can be prepared to tackle the wide array of issues faced doing practical occupations. It is not surprising that financial studies are guaranteed to fetch you a handsome salary in the future.

But before opting for a degree course, one must make sure of the fact that whether the course will at all be relevant for them or not. It will essentially be a waste of your time if you invest in securing a degree from a non-affiliated college.

So, make sure to conduct a proper research ad goes through the teaching programs and syllabus of the institute you wish to get admitted.

Regional accreditation is critically important with higher educational disciplines. Program accreditations generally granted by the Department of Education recognized accrediting agencies. Only those universities and colleges that are being accredited are permitted for aiding financially.

Accreditation certificate generally indicates that an institute is abiding by all the disciplinary formats that are being stated by the accrediting agencies and also making advancements in order to stay up to date with the financial issues of the current world scenario.

Accrediting sectors are institutionally divided into regional as well as national accrediting agencies. For the general point of view, regional agencies confer a lot of merit and credibility. So, while applying for financial education on a particular college first make sure to check their “stamp of approval” from the Department of Education affiliated accrediting agencies.

A degree in finance is critically linked with the current level of education and aspiration for careers. The following list of degrees is available for students to pursue.

  • An associate’s degree in financial studies is the successor of high school education. This degree course will introduce students to the fundamental basics of coursework. If you are looking for shortcuts and thinking about pursuing jobs after coming to this 60-credit course, then rest assured it’s not going to take you anywhere.

This program is the first baby steps towards pursuing a bachelor’s degree in the future. Some of the courses that are available during this course include an Introduction to Microeconomics, Banking, Money, Investments, Financial Markets, Accounting principles, managerial as well as financial accounting.

  • A bachelor’s degree will fetch you 120 credit scores and is particularly essential for individuals seeking to opt for jobs. After completing this course, students will gather the minimum required knowledge which will allow them to go for a job hunt. It is basically an expanded version of the previously acquired associated bachelor’s degree.

Students who are going for bachelor’s degree are always provided with an option to opt for higher studies, be it independent research work or specialized coursework.

Some of the topics included in this course are accounting principles I and 2, business finance, management and theory of organization, contemporary issues faced during financial practices, international finance, money, banking, investments, management of risks, analysis of security and their valuations.

  • Students included higher education in finance often end up taking Master degree courses. Some master degree programs include minimum coursework and give greater emphasis on research-oriented programs.

The courses include portfolio management, investment analysis, reporting for financial issues and their analysis, short term management, cost accounting, quantitative analysis of managerial economics and decision-making schemes, risk management, corporate level financial management, financial modeling’s, capital and money marketing and global corporate finances.

  • Students who wish to take their education to a level of the highest acumen and complete their dissertation work opt for a Doctorate in Finance. The program includes 2 years of coursework similar to that of master’s level followed by three years dissertation program.

A doctorate often takes as long as seven years or even more to complete. So, it’s typically not for faint hearts. Students who are inclined towards creating new financial models and help improve businesses should consider going for a doctorate.

Masters of Finance degree differs from an MBA degree on the basis of its practical aspects. The latter is more career-oriented and focuses on developing practical knowledge among students to make them eligible to pursue jobs in future. List of jobs that a finance degree can fetch you are:

  • As a financial analyst, employers are needed to analyze and gather financial data in order to guide several investment decisions for an individual, non-profit organization or government sectors.
  • As financial managers of the company, individuals are hired to maintain and develop new financial goals and improve the global production value of the companies that they are working for. Financial managers must have a relevant degree, commercial awareness, numerical and analytical skills, teamwork as well as personal qualities such as leadership, problem-solving and decision making.
  • As chartered accountants, to undertake audits, provide financial advice, manage budgets and deal with insolvency issues.
  • Financial advisors are required to advise clients to tackle their monetary issues, investment policies, savings, pensions, insurance or mortgages products
  • As an actuary, individuals are hired to forecast, manage, advise and asses the future possibilities of financial risks

Author Bio

Maja Kazazic is a skilled professional who has vast experience in this field of study. He has got an MBA degree and over 6 years of experience. Presently he provides online guidance to students and works for helpmeinhomework.com. He has an open heart and specializes in solving diverse sets of problems for her students. Her constant urge of helping out students with their problems and her friendly attitude makes her quite popular amongst her students.