Chapter 1, Problem 1IQ

Explanation of Solution

Background knowledge in Finance:

• One must have the basic knowledge of finance to work in a management based company. They have certain qualification to work in the management. The qualification and essential knowledge as follows.
  • One who can finish their graduation in finance, MIS, economics, accounting, business administration, and mathematics are the basic background to eligible for Financial Analytics Data Services.
  • One who can have an experience in financial sectors are also eligible Financial Analytics Data Services.

Explanation of Solution

Different courses one can take:

• There are many financial based courses are available which can be chosen based on one’s interest with this job.
• Finance stream is the overall management of business activities which includes exchange of goods and services from producer to consumer.
• The major courses are BCom (Bachelor of Commerce)/BCom (H) (Bachelor of Commerce with Honours), BBA (Bachelor of Business Administration)/BMS (Bachelor of Management Studies), BA (Bachelor of Arts) Economics are the Under-Graduate courses for finance.
• The Post-Graduation courses include MCom (Master of Commerce), MA (Master of Arts) (Honours) in Economics, MBA (Master of Business Administration), MCom (Master of Commerce) in Accounting and Finance, MBA (Master of Business Administration) in Banking and Finance.
• The special certification courses are Chartered Accountancy, Company Secretary ship and Chartered Financial Analyst.

Explanation of Solution

Work experience in financial industry:

“Yes”, one has an experienced in the financial industry. The responsibilities are as follows.

• Finance Assistant takes care of time consuming work in accounting and helps the financial professionals be more productive.
• The role of financial assistant is supportive in nature. They handle large amount of financial records.
• They are responsible for collecting and recording day-to-day activities in the finance department.