Wikipedia Finance

Wikipedia Finance is the famous article of Its finance content is divided into 11 parts. In beginning of content, it defines, "Finance is the science of funds management. The general areas of finance are business finance, personal finance, and public finance. Finance includes saving money and often includes lending money. Now, we are explaining its 11 parts.

1st part

The main techniques and sectors of the financial industry

In this part you can learn, how finance was born in industry. There are two persons, one have money because his expenses are less than his income. Other person’s expenses are more than his incomes. So, first person can invest money out of his saving and other person can get first person’s money on loan. But  both wants to return on the money which has been invested or borrowed. Both persons’ aim can be fulfill with proper use of the techniques of finance.

2nd part

Personal Finance

This part of finance, Wikipedia shows some questions and tells that personal finance turns around these.

Q:-A How much money will be needed by an individual (or by a family), and when?

Ans. After making of personal budget in personal finance, we can estimate the money’s requirement.

Q: - B Where will this money come from, and how?

Ans. By making fund flow analysis and cash flow analysis of an individual’s business, we can get idea of inflows of fund and cash

Q: - C How can people protect themselves against unforeseen personal events, as well as those in the external economy?

Ans. By taking life insurance policy, people can protect themselves against unforeseen personal events, as well as those in the external economy.

Q: - D How can family assets best be transferred across generations (bequests and inheritance)?

Ans. First of all calculate market value and then transfer or distribute of assets by making of will.

Q: - E How does tax policy (tax subsidies or penalties) affect personal financial decisions?

Ans. Income tax is deducted out of personal income. It will decrease the total of personal fund. Any change in tax policy, either increases individual income or decrease individual income. If any financial project reduce tax and generate new income, more and more people can invest in such plans.

3rd part

Corporate Finance

In this part, Wikipedia finance covers corporate finance. It teaches us that corporate finance is related to fund management. It creates balance between risk and profitability. If any body is curious to know full detail of his investment, portfolio may disclose deep report for him. It also reveals that financial management is different from financial function. Accounting is financial function of corporate and financial management is related to the decision for increasing ROI. This part also has following subparts.

a) Capital

In this sub-part, Wikipedia has written small description of capital. It is money that gives the business for trading.

b) The desirability of budgeting

This sub-part concerns for making of budget and in finance, it can be used for controlling the money.

c) Capital budget

Wikipedia says that we should make capital budget for investment requirement and effective financing in these expenditures.

d) Cash budget

This sub-part of Wikipedia’s finance that we should not only make capital budget but we should also make cash budget for saving some money for day to day expenditures.

4th part

Shared Services

There is currently a move towards converging and consolidating Finance provisions into shared services within an organization. Rather than an organization having a number of separate Finance departments performing the same tasks from different locations a more centralized version can be created.

5th part

Finance of States

States means govt. and finance means govt. accounting of income and expenditures. This part is concerned government budget, government expenditure, income tax and VAT.

6th part

Financial economics

Wikipedia’s this part; we can study different types of financial market. In these markets, Wikipedia includes commodities,  bond, money and derivatives and combine all these content’s links with this main content.

7th part

Financial mathematics

This part is also the branch of mathematics and Wikipedia’s finance content tells its relationship with finance. We can use mathematics and its quantitative techniques for calculating stock exchange, bond and its interest, insurance claim etc.

8th part

Experimental finance

In this part, I have learnt many new finance words and I can discuss on these points

a) Trading flows

This sub-part educates us that trading flows or trend is totally on practical base. We can see different result tomorrow and we can record it. Even google finance and yahoo finance are nothing but showing practical trading flows of stock market.

b) Information diffusion

Information diffusion is also spreading of finance news. If you open google news and write finance word, you can get different information relating to finance. For example three hours ago, The Hindu said, “Handling T20 match scenarios in finance” and 19 hours ago business standards said, “Govt to focus on Finance bill

c) Price setting mechanisms

We all know that different products prices are fixed on the basis of demand and supply but this is white lie. But experiment finance says that all constant assumptions of economics are not constant but they are changed according to the situation. So, price setting a mechanism is affected by many other factors except demand and supply in business environment.

9th part

Behavioral finance

Behavioral finance is related to the behavior of investors. This is very brittle part of finance. According to this part, we can learn that decision of investor is very affected with investor’s psychology. Because my experience is teaching and I can explain you about psychology, psychology is that tool which is helpful to know the ado of mind. I can know the mind by seeing and talking my students. Like me, finance manager can also learn the mind of investor after talking the investor personally.

10th part

Intangible Asset Finance

Intangible asset finance is the area of finance that deals with intangible assets such as patents, trademarks, goodwill, reputation, etc.

11th part

Related professional qualifications

There are several related professional qualifications in finance that can lead to the field:

• Accountancy:

o Qualified accountant: Chartered Accountant (ACA - UK certification / CA - certification in Commonwealth countries), Chartered Certified Accountant (ACCA, UK certification), Certified Public Accountant (CPA, US certification)

o Non-statutory qualifications: Chartered Cost Accountant CCA Designation from AAFM
• Business qualifications: Master of Business Administration (MBA), Bachelor of Business Management (BBM), Master of Commerce (M.Comm), Master of Science in Management (MSM), Doctor of Business Administration (DBA)

• Generalist Finance qualifications:

o Degrees: Masters degree in Finance (MSF), Master of Financial Economics, Master Financial Manager (MFM), Master of Financial Administration (MFA)

o Certifications: Chartered Financial Analyst (CFA), Certified International Investment Analyst (CIIA), Association of Corporate Treasurers (ACT), Certified Market Analyst (CMA/FAD) Dual Designation, Corporate Finance Qualification (CF)

• Quantitative Finance qualifications: Master of Science in Financial Engineering (MSFE), Master of Quantitative Finance (MQF), Master of Computational Finance (MCF), Master of Financial Mathematics (MFM), Certificate in Quantitative Finance (CQF).link

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Accounting Education: Wikipedia Finance
Wikipedia Finance
Accounting Education
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