Business and finance are two major fields of study, focusing on how we earn and spend money. The business aims to create a legally supported organization that sells goods and services. The two fields are closely related, but there are some differences. Business goals differ from finance, so both have different sets of skills.
Basic concepts
Finance is a broad field that encompasses activities related to money, credit, and capital markets. These activities involve money and investments and the creation and oversight of financial systems. Many of the basic concepts of finance stem from microeconomic theory, such as the time value of money. Finance also includes the study of personal finance, corporate finance, and public (government) finance.
Career opportunities
Various careers exist in the field of business and finance. Some are accounting and finance related, while others are in human resources or marketing. These positions may require higher education and a number of related skills. A bachelor’s degree is often required for entry into these positions. For more information about career opportunities in business and finance, visit the links below.
Knowledge of finance and accounting is useful for lawyers in many areas. For example, attorneys in civil lawsuits must be able to read financial statements and estimate appropriate compensation for their clients. This work will develop their analytical, research, and presentation skills. In addition, if you’re good with numbers and have strong verbal skills, you may want to consider a career as a commercial real estate agent. This career requires you to analyze a client’s financial statements and business plans.
Career Outlook
The career outlook for business and finance majors is positive. The United States Bureau of Labor Statistics projects that employment in this field will increase by more than five percent over the decade from 2019 to 2029. That means that 476,200 new job roles should open up during that time. However, this employment outlook may be subject to change.
People who love caring for people and things often choose this career path. Global business growth is expected to boost the need for business professionals. This field of study offers many career options. A Bachelor’s degree in business opens many doors and can be the foundation for a successful career.
Fields of study
Students interested in business and finance can opt for a Bachelor of Business Administration specializing in finance. This program will teach students about various fields within finance, including capital planning, investment, and international finance. They will also study how financial concepts relate to global markets and marketing management practices.
The business and finance major combines the fundamentals of the business world with the study of economics, management, and accounting. Students will study the workings of businesses, analyze their strengths and weaknesses, and create organizational strategies. In addition, they can help plan changes in the industry. Typical coursework in business administration courses includes economics, management information systems, human resource management, and accounting. Students will also be exposed to business ethics and law, human resources management, and international business.