Finance is always going to be a college major that features near the top of any wealthy list, largely due to the fact that a large portion of the world's richest maintain their wealth through investing and finance options.
If you work in financial services, you've likely spent many a night kept up over the stresses of the job. The working hours, the responsibilities, the external pressures to deliver consistent compelling results – they all add up.
The difference between finance and accounting is that accounting focuses on the day-to-day flow of money in and out of a company or institution, whereas finance is a broader term for the management of assets and liabilities and the planning of future growth.
Finance is defined as the management of money and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting.
Eugene F. Fama, 2013 Nobel laureate in economic sciences, is widely recognized as the "father of modern finance." His research is well known in both the academic and investment communities. He is strongly identified with research on markets, particularly the efficient markets hypothesis.
David Emile Durkheim is considered the father of Social Sciences or Sociology for their remarkable works in laying a foundation on practical social research. Social Science is the branch of science devoted to studying human sciences and the relationships among individuals within those societies.
It is concluded that accounting is a social science that studies the features of the functioning of the accounting system as a social and institutional practice. Such an understanding of accounting science is considered one of the ways out of the existing crisis.
A ledger is a book or collection of accounts in which account transactions are recorded. Each account has an opening or carry-forward balance, and would record each transaction as either a debit or credit in separate columns, and the ending or closing balance.
The most common social science subjects include Anthropology, Archaeology, Economics, Geography, History, Law, Linguistics, Politics, Psychology and Sociology.
Psychology is commonly recognized as a social science, and is included on the National Science Foundation's roster of recognized STEM disciplines.
The financial stability of an organization is the responsibility of the financial managers. They prepare financial reports, oversee investment activities, and plan for the organization's long-term financial objectives.
The use of mathematical techniques to solve financial issues is known as financial mathematics. (Equivalent terms like mathematical finance, computational finance, quantitative finance, and financial engineering are occasionally used.) It uses techniques from economic theory, stochastic processes, statistics, and probability.
Candidates can work as investment bankers, financial analysts, account managers, bank managers, research analysts, and many other positions after successfully completing the MBA Finance course. An MBA finance graduate can expect to earn an average salary of INR 7–20 LPA.
According to Pfizer's financial statement as of November 5, 2020, overall debt as of that date was $63.15 billion, with long-term debt at $49.78 billion and current debt at $13.36 billion.