FINANCE
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What is Finance? Finance is the management and acquisition of money and other financial assets in domestic and international financial markets. It is concerned with investment decisions, valuing financial assets, managing funds and developing strategies to minimize financial risk. Because individuals, businesses and government entities all need funding to operate, the field is often separated into three subcategories: personal finance, corporate finance and public finance. Personal finance involves individual financing such as paying for education, financing durable goods such as real estate and cars as well as buying insurance (e.g health and property insurance), investing and saving for retirement. Corporate finance deals with the sources of funding and the capital structure of corporations and actions that managers take to increase the value of the firm to shareholders. This also involves tools and analysis used to allocate financial resources. As for public finance, in addition to managing money for its day-to-day operations, a government body also has larger social responsibilities. Its goals include attaining an equitable distribution of income for its citizens and enacting policies that lead to a stable economy. Financial Services is one of the most competitive fields in Commerce (especially Investment Banking). Strong numerical skills, analytical, teamwork and communication skills are a must. A career in finance opens you up to a dynamic and fast-paced environment, global mobility, and the development of niche skills. However, if you decide to work
in an investment bank you should be prepared for long hours and a pressure-intense environment as your team will be handling a lot of time sensitive deals. CPA Australia has accepted specific UNSW undergraduate courses for the purpose of its membership qualifications. Associate membership of CPA Australia requires the minimum qualification of an accredited undergraduate degree with a major in accounting, and completion of accredited courses in accounting, finance and business areas to satisfy the minimum core knowledge requirements. Students may confirm academic entry requirements for the CPA Program with CPA Australia at https:// www.cpaaustralia.com.au/ManageApplications/AccreditedCourse.mvc/SearchAccreditedCourses Graduates who have completed an undergraduate degree with a major in accounting are eligible under the Institute’s admission requirements to enter the ‘Chartered Accountants Program’ leading to membership, provided they have completed accredited courses in the core knowledge areas. Students may confirm academic entry requirements for the ‘Chartered Accountants Program’ with Chartered Accountants Australia and New Zealand at www.charteredaccountants.com.au/Candidates/TheChartered-Accountants-Program/Entry-requirements/ Accredited-courses.
Professional Accreditation: Chartered Financial Analyst •
The Chartered Financial Analyst (CFA) is a professional credential offered to investment and financial professionals. With a six-decade history of maintaining a rigorous focus on globally relevant investment knowledge, the CFA Profram is the most widely known and respected investment credential in the world. To be eligible, a candidate must:
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Complete the CFA Program (mastery of the current CFA curriculum and passing three, six hour examinations. • Possess a Bachelor’s degree (or equivalent) from an accredited institution. • Have four years (48 months) of qualified work experience, or a combination of education and work experience acceptable to the CFA institute.
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The CFA curriculum encompasses: ethics, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income, derivatives, alternative investments and portfolio management.
BUSINESS CAREERS GUIDE 2016 UNSWBSOC.COM
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