Finance Questions

Archive for August, 2007

Question: What Are The Similarities And Differences Between An Accounting, Finance, Mathematics, And Economics Degrees?

Answer: I think a brief description of each type of degree would be useful for you.

Mathematics - I don't know much about this, to be honest. But I would imagine that a maths degree would be one where you are trained in maths and numbers and how they related to different situations. It teaches you analytical thinking and problem solving.

Accounting - When a company does business, in very simple terms, money goes in and money goes out. Accounting deals with determining when, where and how much money has gone out. It summarises all this information and then it gives advice on what to do in the future.

Finance - When people invest, they want the highest return at the lowest price. When people want others to invest in them, they want to get the highest price possible. Finance deals with the conflict between these two parties.

Economics - This looks at how behaviour in markets affects the welfare of different societies. It also tries to understand why things in markets happen the way they do, the implications of everything that happens and what this might mean for the future.

I guess you could say that all these degrees use numbers. Some more than others.
I think that Accounting, Finance & Economics are similar in that they deal with the commercial world. So the basic ideas in those three are somewhat similar. There is maths involved in Accounting, Finance & Economics, but not to the level in an Mathematics degree.

I'm not sure I've answered your question. But I do hope that I helped somewhat!

:]

Business, Accounting And Finance undergraduate degrees at Queen's Campus, Durham University

Question: Our tax dollars have bailed out the Auto & Finance Corporations. Shouldnt this make us STOCK HOLDERS?

The leaders of our Country have used our TAX Dollars to Help the few...AGAIN. Shouldnt this mean that we have Paid our debts and Mortages, Loans and Financed Property OFF, Because these Corporations are recieving a break, PAID IN FULL. Shouldnt our loans be PAID IN FULL?

Answer: At first, I thought the same way - that the bailout only helped the few. Then our local paper did a story about how much of our local economy was based on the auto industry, even though we are several states away from Detroit. Interestingly, about 15% of our tax base was dependent on the automakers (dealer taxes, income taxes, new car taxes, wage taxes by employees of dealerships, auto transportation, etc.). If the auto industry crashed, our local economy would also crash since it's on the edge right now too.

I'm still not sure whether the bailout plan has enough controls in it and will keep the auto industry afloat, but it will keep it going long enough to keep our local economy afloat for the next few months...and hopefully by then the economy will be stronger or our local government will have made adjustments to stay afloat too.

I'd rather have our tax dollars used to keep jobs and industry in America, than for loans or bailouts to other countries or pork barrel projects with even more limited benefits to Americans.

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