Finance Jobs – What Are the Job Title and Responsibilities?
Finance is a generalized term for issues regarding the science, development, and management of monetary investments and money. In particular, it deals specifically with the questions of why and how an individual, firm or state acquires the funds necessary to conduct productive activities, called cash in the business context. It also includes the methods of managing such funds and their externalities.
The field of Finance is very broad. It can be thought of as having three different components, each of which having its own unique characteristics. The core elements of modern day finance are of course banking, which is the system of providing banking services through banks and other financial institutions, securities markets where the buying and selling of securities by the various financial institutions is done on a day to day basis, and money, which is the system of issuing money in form of bank notes, stocks, bonds, currency, and loans. All these have a role to play in the overall process of Finance, but there are many other smaller aspects as well.
The most important aspect of Finance is accounting, which provides information on the financial activities of individuals, firms, corporations, and governments. Accounting uses a number of different techniques and tools to collect and record information, and process it into reports that are used by people involved in the various facets of Finance. Some of the more common techniques and tools used in accounting include the balance sheet, the income statement, the statement of cash flows, and the financial scorecard. These are just a few of the tools available to accountants at any level of experience.
A financial advisor, on the other hand, is an expert who provides advice about how individuals and businesses can use accounting to improve their performance and profitability. The scope of expertise that a financial advisor has depends upon his/her background and education, as well as the kind of company they work for. In general, however, an advisor with a bachelor’s degree in accounting will be expected to be able to help with handling all areas of accounting, as well as provide consulting services on specific areas such as corporate finance or personal finance. Most advisors with a master’s degree in accounting will be expected to have specialized training in financial matters, including taxation, corporate law, and banking.
While all these topics are important to understanding how accounting works, there are actually four main job titles in the financial field. Investment Professionals handle all the financial aspects of the investment of assets and liabilities. Financial Analysts evaluates the investments of an organization to determine its long-term viability and value. Public Finance Managers handles governmental policies and programs, while Finance Analysts is employed by private investment professionals.
Regardless of what job title an individual holds within the professional field of accounting, all professionals are required to have these four primary duties. The number of primary duties that a financial advisor must perform also varies depending on the type of firm they work for. Primary duties in a private firm would be different than those of a government agency or public organization, as these entities need to focus on a specific sector. Also, these jobs need to be completed in a certain amount of time, as budgets are often released regularly. The National Average Salary for entry level financial advisors is close to $40,000 annually, but the salary range is subject to a number of factors, such as location and industry.