Finance involves the management, movement and raising of money; risk and return analysis are its cornerstones. Finance offers many career options; selecting one depends on your personality traits, skillset and career objectives. If numbers and people interest you equally then perhaps finance could be the ideal career option.
Personal, corporate and public finance are three primary areas of finance that have numerous subfields within them. From determining home purchase costs to overseeing an organization’s assets – finance covers everything. From spending, saving, investing or lending; financing allows individuals and businesses to pursue opportunities that otherwise wouldn’t exist.
Spending: This refers to money that leaves your account each month for bills, rent/mortgage payments, food, utilities and entertainment. Savings are defined as money put away into an RRSP (Reduced Risk Individual Savings Plans), an investment portfolio or even cash stashed under your mattress (though we wouldn’t advise doing this!). Finally, investing is defined as placing money into something with potential future returns such as stocks mutual funds or real estate investments that provide returns over time.
Raising Capital: Raising capital refers to the process by which companies raise money in order to grow and expand. It may involve issuing debt in the form of loans or bonds or selling equity in their company through stock or shares offerings.
Companies require enough capital to operate effectively and cover expenses like raw materials, payroll and shipping. A company’s finance team should make sure there’s enough funds available for these obligations while simultaneously improving profitability by setting prices that are both competitive and reasonable.
A company’s finances also include a system for tracking and reporting income and expenditures, commonly known as its “balance sheet.” This document lists all assets such as equipment and inventory as well as liabilities such as accounts payable and debt; using this data, one can calculate a company’s net worth – the value of assets subtracted from liabilities.
Financial services have been around for millennia, with ancient civilizations developing some fundamental banking, trading and accounting practices. Today, finance encompasses multiple aspects of economics, law, business management as well as mathematics and computer science – and are essential elements in modern finance. As our global economy becomes more financially interdependent, finance professionals are needed to manage and oversee global financial systems. Earning a degree in finance opens doors to career paths in corporate or public finance, investment banking, asset management and commercial banking – as well as beyond! At Jacksonville State University, finance majors can utilize our state-of-the-art finance lab, where they can explore complex trading scenarios and apply their knowledge of finance theory in practical settings. Our faculty are experts in their respective fields and collaborate closely with students as they strive towards professional goals.