Quick Answer: Why Did You Study Banking And Finance?

How Is money important?

Money enables us to provide things for our families and friends, enhancing their life through good education, the best healthcare, and supporting and achieving their goals and dreams.

It can help us achieve life’s intangibles.

With money, good can be done and suffering can be lessened or eliminated..

What are the 6 principles of finance?

There are six basic principles of finance, these are:Principles of risk and return.Time value of money.Cash flow principle.Profitability and liquidity.Principles of diversity.Hedging principle.

What are major areas of finance?

The three major areas of financeFinancial Management is the study of ways in which managers obtain funds, manage working capital, and allocate funds to long-term investments. … Financial Markets and Institutions is the study of money markets (short-term debt) and capital markets (long-term debt and equity).More items…

What kind of math is used in finance?

There’s addition, subtraction, multiplication, and division… and occasionally built-in Excel functions like IRR, Mean, and Median. You never use calculus or differential equations or even geometry / trigonometry. Just arithmetic and sometimes algebra.

Which course is best for finance?

List of the Top Finance Certifications:Chartered Financial Analyst (CFA) certification.Certified Public Accountant (CPA) certification.Chartered Alternative Investment Analyst (CAIA) designation.Certified Financial Planner (CFP) designation.Financial Risk Manager (FRM) certification.More items…

What are the four main areas of finance?

The four main areas of finance are corporate finance, investments, financial institutions and markets, and international finance.

What are the 3 areas of finance?

The finance field includes three main sub-categories: personal finance, corporate finance, and public (government) finance.

Why is finance so important?

A company needs to generate funds or collect it from the right sources for managing and controlling its financial operations. … To fulfill your short term goals and achieve long term goals, arranging for finance is very much important. Finance is also important to face unforeseen situations and changes.

Which degree is best for finance?

MBA. When it comes to a career in banking, an MBA is still the gold standard. … Finance. A finance degree is all but mandatory for certain banking roles. … Business. … Economics. … Accounting. … Financial Engineering. … Physics/ Engineering/ Mathematics. … Banking.More items…•

What are the 5 principles of finance?

The five principles are consistency, timeliness, justification, documentation, and certification.

What is the main purpose of studying banking?

A bank is a financial institution which is involved in borrowing and lending money. Banks take customer deposits in return for paying customers an annual interest payment. The bank then uses the majority of these deposits to lend to other customers for a variety of loans.

What do we study in finance?

You will learn how wealth is measured and also how finance influences and shapes the way companies behave. … These include roles in areas such as commercial banking, financial planning, investment banking, money managing, insurance and real estate.

What are 3 functions of a bank?

– Primary functions include accepting deposits, granting loans, advances, cash, credit, overdraft and discounting of bills. – Secondary functions include issuing letter of credit, undertaking safe custody of valuables, providing consumer finance, educational loans, etc.

What is the purpose of banking?

From the point of view of a bank, the purpose of banking is to make a profit. Banks are companies just like any other, trying to make money. They make money by taking in deposits and lending them out. The interest they charge is a major way of making money.

What attracts you to a career in banking?

You get to work for a big bank, have an incredible career, travel, and meet interesting people. You like strategic thinking and financial planning and you are attracted more to this than to consulting or modeling.

Why do you want to study finance?

Studying finance can prepare you not only for careers in the financial services sector, but also for tasks in your everyday life. … And because finance revolves around planning and analysis, studying finance and becoming more financially literate enables people to make better personal financial decisions.