Business & Computing Examinations

Finance

Finance is the most encompassing of all business enterprises. To understand finance you must know about the entire business, indeed the entire economy. The Financial system (or the economy) is composed of consumers, manufacturers, distributors. These groups need money to purchase products and services. One way of looking at Finance is that it is getting the money to purchase these goods and services. Many economists assume that households have excess money and corporations need money. (This is obviously a gross simplification. At any given point some individuals have excess money to invest where others need to borrow. The same is true for corporations and other organisations).

A finance career is often confused with accounting and banking, but it involves a significantly different set of positions, skills, and qualities. The Finance qualification allow candidates to become decision makers for organisations including government agencies, stockholders, and other financial organisations. A Finance career involves understanding a client’s goals and finding resources to reach them. Although the minimum accepted level of education for a rewarding finance career is a Diploma, many candidates pursue further studies to increase their career opportunities.

Job Description and Responsibilities
A Finance career begins with a formal qualification, and there are many opportunities available for candidates in the field. Most Financial Managers and professionals in this industry are involved with:
• Understanding various functions and applications of the market
• Learning how to allocate funds for the public and private sector
• Working with both domestic and international organisations
• Accessing financial information online
• Applying financial document information and developing strategies
• Working with financial trade analysts and budget departments
• Researching a client or organisation’s financial status
• Making recommendations based on financial goals
• Develop cash management strategies and track investment activities
• Collaborate with financial departments to grow and acquire financial strengths
• Help build financial futures for business owners, homeowners, and companies

Finance Career Options
Common fields and positions on completion of the finance course include:
• Financial manager
• Securities broker
• Commodity contracts manager
• Insurance sales
• Financial analyst
• Controller
• Cash manager
• Accountant
• Auditor
• Insurance sales agents
• Loan officers
• Real estate brokers
• Insurance underwriters
• Risk or insurance manager
• Bank branch manager
• Personal financial or asset manager
• Business advisor
• Financial planner
• Financial consultant

A finance career is commonly found in banking, financial institutions, and government offices. Some financial managers choose to own and operate their own businesses and work as independent contractors.

Earning Potential and Employment Prospects
The demand for experienced financial professionals and advisors is steadily rising as more businesses, companies, and individuals are confronted with a competitive economy. Financial managers can be found in almost every industry, but the majority are employed by finance and insurance establishments such as banks and insurance carriers. With the ongoing rises and shifts in the economy, the need for specialised financial managers and professionals is increasing; employment for those who pursue a finance career is expected to grow as fast as average annually, and those at the managerial level will face the most competition. Financial managers in the securities and commodities industry are expected to be most favourable.

Finance Syllabus