Basic course on Finance and Accounts educates accounting basics and concepts to learn about financial statements, costing models and uncover key insights about organizational performance and future potential. This is the first course in a four part series that begins with Accounting Basics. This series provides an introduction to accounting theory and the core accounting functions.
The second part, Topics in Finance and Accounts, traces the development of modern-day accounting theory aat level 2. It includes broad coverage of accounting principles and methods, with special attention paid to issues confronting the financial business. The third section, Auditing and Assessments, describes methods and objectives of auditing, the role of an auditor, methods for maintaining internal control measures, and assessment of the effectiveness of accounting policies and practices.
The fourth and final segment, Applications in Finance and Accounts, focuses on application areas relevant to specific business activities. This segment provides guidance on strategic, operational, and specific financial transactions. For example, it provides guidance for setting up balance sheet arrangements for the balance sheet components. It also provides information on preparing financial statement reports, both current and delayed and establishes the basis for analyzing accounting data for preparation of the statement. This last segment discusses the responsibilities and processes of a treasury officer.
Finance and Accounts are organized around five main topics: principles of finance, principles of accounting, managerial economics, accounting theories, and strategic and operational finance. Principles of finance is related to the activities of a company in terms of planning, organizing, and acting. Principles of accounting deals with valuing the financial aspects of the business, analyzing them, communicating them to stakeholders, and reporting them to management. Accounting theories describe various methods by which businesses choose to manage their financial statements, including: theory, practice, and model. The final topic, operational and financial management, refers to the administration of financial activities such as: work orders, inventory control, planning and operation, financial reporting and borrowing, and internal control mechanisms aat level 3.
A finance and accounts major typically takes one of three routes to attain his or her degree. At the most common, he/she will enter an accounting or finance undergraduate program at a community college, taking classes in either business mathematics or accountancy at a junior college, then take the standard APAs required to complete a four year degree at a university. At the other end of the spectrum, a finance and accounts major may begin his/her education by obtaining an associate’s degree from an accredited university or via an online program, then attend a graduate program in finance at a business school or another University that has been authorized to conduct graduate studies in finance and accounting.
The advantages and benefits of a finance and accounting degree are well known. Graduates have a wide range of job opportunities lined up for them, with the most common starting salaries set at well below the industry average. Finance and accounting graduates also have access to higher level positions in government, corporations, and other businesses that are based on accounting practices. For students, a finance and accounting degree offers the benefits of solid career training in the area of business administration and the possibility to broaden their range of future employment possibilities.