Question 1

What is Finance and types of Finance?

Accepted Answer

Finance refers to the processes associated with acquiring and management of funds. It involves banking, Investments, Debt and Capital Markets Trading, Money Market Operations and other operations related to money.

Broadly, Finance is categorized under the following heads:

Personal Finance - Refers to money management at an individual level. For instance, Retirement Fund, Emergency Fund, and Home Budget.

Corporate Finance - Financial Activities that are required to operate a corporate successfully. For instance, Share/ Bond Issues, Working Capital Management, and Initial Public Offerings (IPO).

Government / Public Finance - Financial Activities carried out by the Government (State or Centre) for managing the economy as a whole. Taxation Policies, Government Bonds, and Currency Printing are some of the activities in the Government Finance Space.

Question 2

What is the actual difference between accounting and finance?

Accepted Answer

Accounting focuses on the daily movement of money into and out of a firm or institution, whereas finance includes asset and liability management and future growth planning.

Accounting is more about reporting what happened and following regulations and norms. Finance is about planning for the future and minimizing losses. Finance may be a better fit for candidates if candidates enjoy long-term planning.

Accounting courses include business law, tax law, and accounting theory. Finance-related courses include macroeconomics, international finance, financial engineering, and corporate finance.

Question 3

What are the most preferred certifications for finance professionals?

Accepted Answer

Finance Professionals have many different varieties of certifications to choose from. These all depend on the candidate’s interest and future growth objectives.

Some of the preferred certifications are:

Chartered Financial Analyst (CFA) Certification - For candidates interested in Portfolio Management and Investment Analysis.
Estimated Time Required - 4 Years (All 3 Levels).
Approximate Cost Estimate - $4500 - $5000.

Financial Risk Manager (FRM) Certification - For candidates interested in Risk Management and Analysis.
Estimated Time Required - 1 Year (All 2 Levels).
Approximate Cost Estimate - $1500.

Certified Public Accountant (CPA) Certification - For candidates interested in Financial Reporting and Auditing Trails.
Estimated Time Required - 2.5 to 5 Years (Single Level Programme).
Approximate Cost Estimate - $1000 - $3000

Certified Financial Planner (CFP) Certification - For candidates interested in the overall Financial Planning Exercise.
Estimated Time Required - 4 Years (All 2 Levels).
Approximate Cost Estimate - $2000

Question 4

Which are the best finance courses available on Careervira?

Accepted Answer

Careervira has the best online finance course to choose from. You can easily filter out courses based on the Level, Duration, Ratings, and more.

Some of the top finance courses listed on Careervira are:

Question 5

What is the purpose of taking finance courses?

Accepted Answer

Learning finance boosts your corporate career and your mindset about money as well. Finance deals with money and its rational management for getting maximum returns. You start looking at numbers with a more rational approach when you learn finance.

As per reports, around 58% of Americans don’t have a household budget, and 25% cannot pay their bills on time, despite having the money. Financial literacy helps you bring that money discipline into your life.

Around 95% of Professional Finance Graduates earn about $27,000/month right after completing their academics. This in itself is a compelling reason to opt for finance certification courses.

Question 6

How can Careervira Courses help my career in finance?

Accepted Answer

Careervira is a platform where top courses from varied universities across categories are listed. We have some of the finest listings of certification courses in finance designed by Globally recognized universities and instructors.

Most of the courses listed are designed keeping in mind the working professionals. This helps the candidates in upskilling their talent simultaneously with their ongoing jobs. Results are faster career growth and better working opportunities for working professionals.

Careervira lists the best finance courses for all levels of learning. Whether you are a beginner or an intermediate, you will find the right finance course here. Moreover, as the courses have recorded lectures online, you can upskill yourself at a time slot at your convenience.

Question 7

What are the highest paying jobs in finance?

Accepted Answer

Finance and Money Management Courses have given candidates the scope for landing a high-paying job. With the demand for the financial services industry seeing a boom, the pay scale in this sector will remain constant on the higher side.

Some of the high-paying jobs in financial services are:

Chartered Accountants (CA) - The average annual salary in the United States is $103,000, and ₹9,00,000 in India.

Investment Banker - The average annual salary in the United States is $61,000, and ₹13,44,702 in India.

Information Technology Auditor - The average annual salary in the United States is $63,000, and ₹8,41,572 in India.

Senior Accountant - The average annual salary in the United States is $72,000, and ₹5,40,000 in India.

Hedge Fund Manager - The average annual salary in the United States is $98,000, and ₹4,56,106 in India.

Private Equity Associate - The average annual salary in the United States is $108,000, and ₹7,15,747 in India.

Chief Financial Officer - The average annual salary in the United States is $127,000, and ₹34,76,606 in India.

Chief Compliance Officer - The average annual salary in the United States is $128,000, and ₹25,00,000 in India.

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