Finance is a broad term for various things about the study, production, management and distribution of financial resources and securities. In particular, it deals with questions of why and how an individual, organization or government obtains the funds necessary for its continued operation: called capital in the business context. These funds are used primarily to finance the operation of the enterprise; to make it grow and generate surplus income; and to enhance the stockholder value. It also takes into account the debts of the enterprise as well as the means by which the resources are used.
There are three main parts to the study of finance. The first two are accountancy. Accountancy is the process of making financial records and reports and arranging them in a systematic way for the purpose of analysis, planning and optimization. Financial accounting deals with dealing with financial data in the day-to-day functioning of an enterprise and reporting them to a managerial authority. The third part of finance is investing, which is the investment in human and physical assets and property, including intangible and intangibles assets.
There are many professions associated with finance such as investment banking, venture capital, private equity, mortgage banking, cross-risk banking and asset protection estate management. Finance graduates usually specialize in one or two of these areas. Some of the areas of specialization within the field of finance include risk analysis, macroeconomics, accounting and taxation. Finance graduates may also have some degree in law, like bachelor’s degrees in accounting, Bachelor’s degrees in business, law and medical and doctorate degrees in business, law and medicine.
If you are a graduate student with a Finance major, there are many finance careers awaiting you. One of the three main areas of finance is Investment Banking. Investment banks make and manage investments for other financial institutions and businesses. They also trade in securities, such as bonds, stocks, options, futures and currencies. While investment banking jobs require knowledge of securities laws, managing investment funds, financial mathematics and other financial information, many also require creativity, interpersonal skills, math skills and strong writing skills.
Public Accounting involves examining the records of a company, government agency or individual to determine and report on its financial matters. Auditing includes investigating, detecting, reviewing and providing recommendations on the records of an organization or individual. A career in auditing requires great analytical and written skills, computer skills and a good sense of honesty and integrity. A career in this career field also often involves working in finance jobs and the related field.
Entry-level finance jobs include working for a management consultant firm. These companies need knowledgeable, professional workers who are able to communicate well with customers, meet organizational needs and perform their responsibilities as assigned. Entry-level finance jobs in finance include working at an office of a bookkeeper or payroll. Working in a bank, investing in a business, becoming a bond dealer or public lender require communication skills and experience in financial markets.
