week 1 post 1 review minimum of 150 words APA format
1. a. There are many different roles that an individual has access to with a background in finance. Some of the options include: Accountant, CFO, Controller, Banker, Manager, Teacher, among many others.
b. One of the main steps to take would be to focus on the craft. There is a multitude of information to learn when dealing with finance. The basics need to be ingrained, and the rest needs to be memorized. Everything from number crunching, to learning how to do the books, to how to process payroll, and everything in between.
c. I would say that a CFO needs to be a pursued position. With the company being made public, everyone has access to the numbers. The company needs to have someone designated to make sure the numbers that are presented, are accurate ones.
2. a. Students can gain experience by utilizing their knowledge to volunteer or do temporary assignments for local firms. Even if the job doesn’t pay in money, it pays in experience. “One advantage for students is the availability of internships and temporary work in their fields, which can provide a taste of the working world, help them build their resumes, and expand their networks.” (Messmer, M. 2/28/12)
b. This is in relation to the CFO. As Mr. Coughlan stated, “Financial Stewardship is still the foundation of the job”. (Coughlan, G.) It is still important to be able to conform to the needs of the company. However, without the foundation, there is nothing to build on. One needs to know how to do the books, and then can look into other aspects of the business. I also find that management is very important asset in the industry.
c. According to Fortune, two of the top ten jobs over the next ten years include: Marketing Consulting and Portfolio Management. (Fisher, A. 2016) I still believe that there were be plenty of opportunities in the finance field over the next 10 years.
d, Fiduciary technically means a person who holds assets in trust for a beneficiary. A CFO manages finances for a firm which has raised capital from its shareholders and lenders. Therefore, CFO has a fiduciary duty to manage assets in on behalf of the shareholders.
Couglan, G. CFO. Video Retrieved from http://www.mhhe.com/business/finance/bmm4e/videos/cfo/CF.AVI
Fisher, A. (6/7/16). The 10 Fastest-Growing Careers in the Next Five Years. Fortune. Retrieved from http://fortune.com/2016/06/07/the-10-fastest-growing-careers-in-the-next-five-years/
Messmer, M. 2/28/12. Nine in Ten CFOs Say Work Experience Important for College Grads. Accounting Web. Retrieved from http://www.accountingweb.com/practice/team/nine-in-ten-cfos-say-work-experience-important-for-college-grads