FINANCE, AN EXCITING CAREER
School of Business, LeTourneau University
I have been asked by potential finance students some questions about finance such as what finance is and the difference between finance and accounting.
Accounting: Accountant’s (sometimes called: Controller) primary function is to develop and provide data measuring the performance of the firm, assessing its financial position, and paying taxes. The accountant is responsible for preparing financial statements such as the income statement, balance sheets, and cash flows. It is normally passive work, in the sense that, the work has a very independent nature to it such as preparing forms and financial ...view middle of the document...
Description of Finance
Students will find the major in Finance particularly well-suited for careers in commercial and investment banking, real estate, corporate control and treasury functions, and insurance organizations. In addition, finance is important for generalists seeking careers in organization planning, management consulting, general line management, and small business management. Students seeking careers in the industries of health care, public and nonprofit management will also benefit from a strong knowledge of finance.
Analytical finance such as risk management, investment, and derivative securities provide a more rigorous understanding of financial modeling, the theory and tools that underlie modern financial practice (derivative finance is sometimes called Financial Engineering.). International finance provides the quantitative and analytical foundation for a career in financial analysis, with an emphasis on the international aspects and economic foundations of financial theory and practice. A thorough understanding of the theory of financial markets is combined with institutional detail, hands-on experience with financial analysis, and familiarity with financial applications.
What courses to take depends a lot on your own background, interests, experience, strengths, and weaknesses. Having taken the finance core will leave you with a solid understanding of the key building blocks of real-world finance. The other core courses are crucial elements of this foundation. Firm valuation, corporate finance, investment banking, and most sell-side jobs require a real knowledge of GAAP accounting. Asset pricing, portfolio allocation, and risk management are impossible without a real knowledge of economics and basic statistics. Furthermore, your in depth exposure to international finance give you a comparative advantage (maybe even an absolute advantage) in understanding today's trends, tomorrow's changes, and -- in particular -- the impact of exchange rates -- that is, the "international" in international finance. Going beyond the core, applications and the more practical and more specialized courses give you exposure to real-world experiences and a breadth of experiences. Business courses are particularly relevant for integrating your finance knowledge into the decisions of the firm -- finance is a crucial business input and firms are a key financial environment. Everything is tied together.
I obtained the following information from the Internet
Banking Investment, Commercial, and Insurance and Real Estate
[pic] Main Activities:
[pic] Valuation and company/segment analysis for mergers, spin-offs, acquisitions, LBO's, and so forth.
[pic] Issuance and placement of securities such as loans, bonds, and equity including corporate valuation, due diligence, credit analysis, security design, and security valuation.