The ultimate objective of any firm is to create value for its stakeholders. The Finance minor will equip students with the financial knowledge and quantitative skills to evaluate economic value and risk, and analyze the financial impact of alternative strategies and business decisions. A solid introduction to investment theory will also be of lifelong help to a student in the management of their personal finances.
A Finance minor can serve as a useful supplement to students majoring in any area of business. For example, an economics major who plans to work in the area of macroeconomics would benefit by having a good knowledge of financial markets, institutions and markets. An accounting major specializing in fair value or hedge accounting would benefit from a strong grounding in valuation techniques and derivative securities. Other examples include a Compensation/Benefits Analyst quantifying the cost impact of a change in a labor law, or a marketing analyst assessing the effectiveness of marketing campaigns, or a business analyst evaluating the effect on firm value of alternative business strategies.
A Finance minor can also complement the skillset and increase the range of career options of students from outside the College of Management, especially students majoring in quantitative fields such as Mathematics and Statistics.
This course in financial accounting acquaints students with the "language of business" and the concepts and practices of accounting in order to understand, interpret, and analyze the financial accounting reports of economic entities. Topics include: economic context of accounting; introduction to basic financial statements with emphasis on the statement of cash flows; measurement fundamentals; analysis of financial statements; cash; receivables; inventories; investments in equity and debt securities including Consolidations; long-lived assets; current and long-term liabilities; stockholders' equity; and time value of money concepts and computations for decision making: international accounting practices are incorporated into every topic. This is not a bookkeeping course.