I%26#039;m only a freshmen in college right now and I%26#039;m double majoring in finance and accounting. I was wondering how I can better prepare myself for a career in that field. Should I read some books or try to get hands on experienced. I%26#039;m looking to be a CPA or an Investment/Financial Analyst so how do I prepare for that. Any information you guys can give will help. Thanks a lot in advance.|||Hands on experience is the best way to go. Here are some ideas:
*Try and get a part time job in the accounting department of a local business. This will help you build on your accounting knowledge.
*Join Beta Alpha Psi (accounting fraternity) or other accounting societies. It looks great on the resume and it is a good way to meet individuals that work in the Accounting Field because they usually come to the meetings and give presentations about their firms or different accounting topics
*Do an internship with a CPA firm. This is more of something to keep in mind in a year or two. But this is a great way to see if working in public accounting is what you want to do. Generally CPA firms hirer people to do internships the summer after their junior year.
I don%26#039;t know what school you go to but most accounting departments will hold recruiting events, such as %26quot;meet the firms%26quot; where CPA firms come to the school to meet students. So this is a great way for you to meet people at the different firms and determine which one is the right fit for you. These are generally geared towards Juniors and Seniors but it is never to early to go and start meeting contacts.
Hope this helps!
Tuesday, March 24, 2009
What are the three professional tests for people working in finance?
I remember my finance professor telling me about these three tests in finance you can take to improve your resume. They%26#039;re all very difficult and have to be taken a year apart.
I was thinking about taking the very first one to see if I could improve my resume.|||CPA, CFP, Series 7
I was thinking about taking the very first one to see if I could improve my resume.|||CPA, CFP, Series 7
What's the best way to finance a real estate investment loan?
I%26#039;m planning to %26quot;flip%26quot; a house in the midwest, but I%26#039;m not sure how to go about financing. I plan to purchase the house for $130k, spend $20k in repairs, and sell for $160k. I would need to finance the purchase and repairs.
1) I don%26#039;t know what type of loan to go with
2) I don%26#039;t know if it%26#039;s better to go to a bank, like National City, a financing company, like CitiFinancial, or a different type of company...|||You need to re-think your numbers a little. If you finance a $130K loan, the cost is going to be several thousand dollars. You are talking about a high risk loan so expect to pay a few points at closing also, if you can get a loan. Check with all of the above until you find a mortgage broker that you are comfortable working with. However, this property in particular may not be well suited for a rehab. If there is only a $10K spread on a $150K investment, I would be extremely careful. You need to consider ALL of the costs. How will you sell the property? What if it doesn%26#039;t sell right away? The loan service on a $130K loan will be $1,000 per month or more (depending on taxes and insurance). If you sell the house quickly, say 4 months to rehab and flip, that would be $4,000 of your projected $10K profit. What if it takes an additional 6 months to sell?
Best of luck to you.|||If you can%26#039;t afford to pay cash for the investment, then don%26#039;t do it.
Also, if you don%26#039;t know what type of loan you might go with or type of bank to use, then you need to spend more time learning about finance.
Third, if all you are going to make is $10,000 it is more than likely the interest on the loan will be greater than that and you will end up losing money.|||the best is go yo a financial consultant
1) I don%26#039;t know what type of loan to go with
2) I don%26#039;t know if it%26#039;s better to go to a bank, like National City, a financing company, like CitiFinancial, or a different type of company...|||You need to re-think your numbers a little. If you finance a $130K loan, the cost is going to be several thousand dollars. You are talking about a high risk loan so expect to pay a few points at closing also, if you can get a loan. Check with all of the above until you find a mortgage broker that you are comfortable working with. However, this property in particular may not be well suited for a rehab. If there is only a $10K spread on a $150K investment, I would be extremely careful. You need to consider ALL of the costs. How will you sell the property? What if it doesn%26#039;t sell right away? The loan service on a $130K loan will be $1,000 per month or more (depending on taxes and insurance). If you sell the house quickly, say 4 months to rehab and flip, that would be $4,000 of your projected $10K profit. What if it takes an additional 6 months to sell?
Best of luck to you.|||If you can%26#039;t afford to pay cash for the investment, then don%26#039;t do it.
Also, if you don%26#039;t know what type of loan you might go with or type of bank to use, then you need to spend more time learning about finance.
Third, if all you are going to make is $10,000 it is more than likely the interest on the loan will be greater than that and you will end up losing money.|||the best is go yo a financial consultant
What are the subjects needed to study finance accounting at university?
I just started college and i%26#039;m studying accounting, economics, mathematics and business studies. Is these the right subjects or should i study sociology instead of business studies. I need to know what subjects top universities ask for when a person wants to study finance accounting.|||1. I think your list is fine.
2. Add corporate finance when you have the prerequisites.
3. You should have a faculty advisor who you can ask questions like this of, rather than an anonymous group of people on Yahoo Answers.
|||You have chosen a good subjects just add more subject like international financial management, financial management and cost accounting.
You can start studying this subject home also so at the time of your university you can easily understand the basics of all the subjects.
best of luck from letsnurture.co.cc|||Business Studies in Finance %26amp; Accounting can include (normally university do not provide so many courses):
1) Business Statistics
2) Financial Mathematics
3) Accounting Principles
4) Marketing Principles
5) Macroeconomics
6) Business Computing
7) Actuarial Science
8) Environmental Science
9) Qualitative Finance
10) Management Accounting
11) Cost Management
12) Options %26amp; Futures Trading
13) Financial Management
14) Tax Accounting
15) Audit %26amp; Assurance
16) Payroll Accounting
17) Financial Accounting
18) Environmental %26amp; Social Accounting
19) Forensic Accounting
20) Advanced Financial Accounting
21) Advanced Management Accounting
22) Advanced Tax or Tax Planning
23) Business Strategy
24) Microeconomics
25) Advanced Microeconomics
26) Advanced Macroeconomics
27) Company Law
28) Employment Law
29) Business Law
30) Computerised Accounting Systems
31) Insolvency %26amp; Reconstruction
32) Price Theory
33) Accounting Theory
34) Performance Management
35) Knowledge Management
36) Operations Management
37) Bank Management
38) Financial Planning
39) Investments Law
40) Investment Planning
41) Insurance Law
42) Business Communication
43) Asset Valuation
What is Finance Accounting? That is no such term.|||Judging from the wording of your question you should actually be studing english.
2. Add corporate finance when you have the prerequisites.
3. You should have a faculty advisor who you can ask questions like this of, rather than an anonymous group of people on Yahoo Answers.
|||You have chosen a good subjects just add more subject like international financial management, financial management and cost accounting.
You can start studying this subject home also so at the time of your university you can easily understand the basics of all the subjects.
best of luck from letsnurture.co.cc|||Business Studies in Finance %26amp; Accounting can include (normally university do not provide so many courses):
1) Business Statistics
2) Financial Mathematics
3) Accounting Principles
4) Marketing Principles
5) Macroeconomics
6) Business Computing
7) Actuarial Science
8) Environmental Science
9) Qualitative Finance
10) Management Accounting
11) Cost Management
12) Options %26amp; Futures Trading
13) Financial Management
14) Tax Accounting
15) Audit %26amp; Assurance
16) Payroll Accounting
17) Financial Accounting
18) Environmental %26amp; Social Accounting
19) Forensic Accounting
20) Advanced Financial Accounting
21) Advanced Management Accounting
22) Advanced Tax or Tax Planning
23) Business Strategy
24) Microeconomics
25) Advanced Microeconomics
26) Advanced Macroeconomics
27) Company Law
28) Employment Law
29) Business Law
30) Computerised Accounting Systems
31) Insolvency %26amp; Reconstruction
32) Price Theory
33) Accounting Theory
34) Performance Management
35) Knowledge Management
36) Operations Management
37) Bank Management
38) Financial Planning
39) Investments Law
40) Investment Planning
41) Insurance Law
42) Business Communication
43) Asset Valuation
What is Finance Accounting? That is no such term.|||Judging from the wording of your question you should actually be studing english.
Is Finance in combination with international business a good field to be into?
What are the outlooks? Would you prefer finance over management, risk and insurance management, real estate, economics, and marketing?
Thanks!|||In this world, international issues are growing not shrinking. But, I would think about a school that has a degree in international finance if that%26#039;s what you want. The two top ways to the top are marketing and finance, in that order. If that%26#039;s your desire, then it sounds like you%26#039;re headed in a positive direction.
Thanks!|||In this world, international issues are growing not shrinking. But, I would think about a school that has a degree in international finance if that%26#039;s what you want. The two top ways to the top are marketing and finance, in that order. If that%26#039;s your desire, then it sounds like you%26#039;re headed in a positive direction.
Is FInance a bad major to go into with an inevitable recession?
I am currently stuck with what I want to do with my life. If i go into business, I will either major in Economics, Finance, or Accounting. Any suggestions based on salary, and job opportunities. Thanks.|||I have a cousin in accounting. She double majored/ dual degree in Finance and Accounting . She is an accountant. She scored a supervisor%26#039;s position in Koch Lp because of her second degree in finance.
You can work for auto dealers helping with loans, Banks, payroll positions, accounts payables, or work in small to corporate businesses in their various accounting departments.
Economics seem limited in employment opportunity . ..but pay well if you find a position requiring the degree in economic.
Forecasting and analysis of U.S. economy
Industry forecasting and analysis
International forecasting and analysis
Product forecasting, microeconomics
Domestic policy analysis
Other areas of analysis
Administration
|||Hardly! What goes down must come up. Stop being short-sighted -- NOW is the time that people need financial advice and management.
You can work for auto dealers helping with loans, Banks, payroll positions, accounts payables, or work in small to corporate businesses in their various accounting departments.
Economics seem limited in employment opportunity . ..but pay well if you find a position requiring the degree in economic.
Forecasting and analysis of U.S. economy
Industry forecasting and analysis
International forecasting and analysis
Product forecasting, microeconomics
Domestic policy analysis
Other areas of analysis
Administration
|||Hardly! What goes down must come up. Stop being short-sighted -- NOW is the time that people need financial advice and management.
How does the finance person from the dealership I bought my car make his money?
Here is the deal. I kind of got taken from a shady Persian gentlemen who did the financing for me at my local Honda dealership. So he got me for a higher interest rate, lied to me so I would purchase stuff like extended warranty and gap insurance. My question is this: Based on my original loan the total loan amount of my interest would have been like $12,000 spread out over six years. But I went ahead and paid a large portion of that down and refinanced with a third party - therefore reducing the total interest to something like
$3500 over four years. So here is my question. Does this dishonest finance guy at the dealership get a cut of the original $12,000 and get his money up front? Or will he only get a cut of the total amount of interest I paid on the original loan which was about $1300? I want to know if by refinancing through some other lender if I took money away from him that he was expecting would come to him based on the terms of the original loan?|||Auto finance is what I do for a living and like the first poster said, it depends on how quick you refinanced.
If you made at least 12-payments, the F%26amp;I guy got all of his money. If you made less then that he was charged back a small percentage.
When you finance a car and buy what%26#039;s called back-end product like Gap and Service Contracts the F%26amp;I people are paid a percentage of the profit they made off of you the next month. If you do not refinance within 12-months they are free and clear, if you do refinance, they are charged back a percentage based on how quick you refinanced.
The other way that F%26amp;I people make money is they mark up the rate. Say the bank gives the dealer a buy rate of 5.99% they mark it up to 8.99% and this produces whats called reserve money. This also gets charged back if you refinance the loan before 12-months.
I doubt if he actually lied to you. People that do what we do for a living are good at our jobs and lieing to a customer is the fastest way to lose your job. The truth in lending law states that everything you purchase must be explained before you sign the paperwork.|||Actually that%26#039;s true.
Once you purchase a vehicle you have to pay the taxes and bring it up into your name before you can trade it back in to the dealer. Report Abuse
|||It depends on the dealer and how long you waited to re-fi.
You were correct in your assumption that he made a pretty penny on you from all the extras especially the extended warranty and how much he was able yo get you to pay for it. These guys have allot of flexibility in what they charge for these types of extras.
$3500 over four years. So here is my question. Does this dishonest finance guy at the dealership get a cut of the original $12,000 and get his money up front? Or will he only get a cut of the total amount of interest I paid on the original loan which was about $1300? I want to know if by refinancing through some other lender if I took money away from him that he was expecting would come to him based on the terms of the original loan?|||Auto finance is what I do for a living and like the first poster said, it depends on how quick you refinanced.
If you made at least 12-payments, the F%26amp;I guy got all of his money. If you made less then that he was charged back a small percentage.
When you finance a car and buy what%26#039;s called back-end product like Gap and Service Contracts the F%26amp;I people are paid a percentage of the profit they made off of you the next month. If you do not refinance within 12-months they are free and clear, if you do refinance, they are charged back a percentage based on how quick you refinanced.
The other way that F%26amp;I people make money is they mark up the rate. Say the bank gives the dealer a buy rate of 5.99% they mark it up to 8.99% and this produces whats called reserve money. This also gets charged back if you refinance the loan before 12-months.
I doubt if he actually lied to you. People that do what we do for a living are good at our jobs and lieing to a customer is the fastest way to lose your job. The truth in lending law states that everything you purchase must be explained before you sign the paperwork.|||Actually that%26#039;s true.
Once you purchase a vehicle you have to pay the taxes and bring it up into your name before you can trade it back in to the dealer. Report Abuse
|||It depends on the dealer and how long you waited to re-fi.
You were correct in your assumption that he made a pretty penny on you from all the extras especially the extended warranty and how much he was able yo get you to pay for it. These guys have allot of flexibility in what they charge for these types of extras.
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