The financial chronicles
Robert Kiyosaki once said in his most prestigious book entitled 'Rich Dad, Poor Dad', "The main reason people struggle financially is because they spent years in school but learned nothing about money. The result is that people learn to work for money ... But never learn to have money work for them."
To educate individual how to handle financial matters effectively is important. Gaining financial knowledge that we cannot learn from school gives us the opportunity to get ahead and live a better life without struggling financially. This site, The Financial Chronicles, helps the students, worker and other people to learn not only how to manage financial effectively but also giving them a materials that can help them being familiar how one person, one organization, one institution or one country handle their financial successfully despite of the different factors that may affect their financial system. And also, The Chronicles also aims how to make a wise and better financial decisions in real life.
The Financial Chronicles composed of four main sections:
1. Financial management that includes four basic areas: Corporate Finance that deals with how one organization or company manage their financial activities. Composed of a short articles of selected companies about their financial system and activities. Investments area that deals with financial assets such as stocks and bonds. Financial Institutions focuses on a businesses that deals primarily in financial matters. And lastly, International Finance involve international aspects of either corporate finance, investments or financial institutions.
2. Financial Literacy
3. Trivias
4. Successful Quotations
Why Study Finance?
1. Marketing and Finance
If you are interested in marketing, you need to know finance
because, for example, marketers constantly work with budgets, and they need to understand
how to get the greatest payoff from marketing expenditures and programs. Analyzing
costs and benefits of projects of all types is one of the most important aspects of finance, so
the tools you learn in finance are vital in marketing research, the design of marketing and
distribution channels, and product pricing, just to name a few areas.
Financial analysts rely heavily on marketing analysts, and the two frequently work
together to evaluate the profitability of proposed projects and products. As we will see in a later chapter, sales projections are a key input in almost every type of new product analysis,
and such projections are often developed jointly between marketing and finance.
Beyond this, the finance industry employs marketers to help sell financial products
such as bank accounts, insurance policies, and mutual funds. Financial services marketing is one of the most rapidly growing types of marketing, and successful financial services marketers are very well compensated. To work in this area, you obviously need to understand financial products
2. Accounting and Finance
For accountants, finance is required reading. In smaller
businesses in particular, accountants are often required to make financial decisions as well
as perform traditional accounting duties. Further, as the financial world continues to grow
more complex, accountants have to know finance to understand the implications of many
of the newer types of financial contracts and the impact they have on financial statements.
Beyond this, cost accounting and business finance are particularly closely related, sharing
many of the same subjects and concerns.
Financial analysts make extensive use of accounting information; they are some of the
most important end users. Understanding finance helps accountants recognize what types
of information are particularly valuable and, more generally, how accounting information
is actually used (and abused) in practice.
3. Management and Finance
One of the most important areas in management is strategy.
Thinking about business strategy without simultaneously thinking about financial
strategy is an excellent recipe for disaster, and, as a result, management strategists must
have a very clear understanding of the financial implications of business plans.
In broader terms, management employees of all types are expected to have a strong
understanding of how their jobs impact profitability, and they are also expected to be able
to work within their areas to improve profitability. This is precisely what studying finance
teaches you: What are the characteristics of activities that create value?
4. You and Finance
Perhaps the most important reason to know finance is that you will
have to make financial decisions that will be very important to you personally. Today, for
example, when you go to work for almost any type of company, you will be asked to decide
how you want to invest your retirement funds. We’ll see in a later chapter that what
you choose to do can make an enormous difference in your future financial well-being. On
a different note, is it your dream to start your own business? Good luck if you don’t understand
basic finance before you start; you’ll end up learning it the hard way. Want to know
how big your student loan payments are going to be before you take out that next loan?
Maybe not, but we’ll show you how to calculate them anyway.
These are just a few of the ways that finance will affect your personal and business
lives. Whether you want to or not, you are going to have to examine and understand financial
issues, and you are going to have to make financial decisions. We want you to do so
wisely, so keep reading.
If you are interested in marketing, you need to know finance
because, for example, marketers constantly work with budgets, and they need to understand
how to get the greatest payoff from marketing expenditures and programs. Analyzing
costs and benefits of projects of all types is one of the most important aspects of finance, so
the tools you learn in finance are vital in marketing research, the design of marketing and
distribution channels, and product pricing, just to name a few areas.
Financial analysts rely heavily on marketing analysts, and the two frequently work
together to evaluate the profitability of proposed projects and products. As we will see in a later chapter, sales projections are a key input in almost every type of new product analysis,
and such projections are often developed jointly between marketing and finance.
Beyond this, the finance industry employs marketers to help sell financial products
such as bank accounts, insurance policies, and mutual funds. Financial services marketing is one of the most rapidly growing types of marketing, and successful financial services marketers are very well compensated. To work in this area, you obviously need to understand financial products
2. Accounting and Finance
For accountants, finance is required reading. In smaller
businesses in particular, accountants are often required to make financial decisions as well
as perform traditional accounting duties. Further, as the financial world continues to grow
more complex, accountants have to know finance to understand the implications of many
of the newer types of financial contracts and the impact they have on financial statements.
Beyond this, cost accounting and business finance are particularly closely related, sharing
many of the same subjects and concerns.
Financial analysts make extensive use of accounting information; they are some of the
most important end users. Understanding finance helps accountants recognize what types
of information are particularly valuable and, more generally, how accounting information
is actually used (and abused) in practice.
3. Management and Finance
One of the most important areas in management is strategy.
Thinking about business strategy without simultaneously thinking about financial
strategy is an excellent recipe for disaster, and, as a result, management strategists must
have a very clear understanding of the financial implications of business plans.
In broader terms, management employees of all types are expected to have a strong
understanding of how their jobs impact profitability, and they are also expected to be able
to work within their areas to improve profitability. This is precisely what studying finance
teaches you: What are the characteristics of activities that create value?
4. You and Finance
Perhaps the most important reason to know finance is that you will
have to make financial decisions that will be very important to you personally. Today, for
example, when you go to work for almost any type of company, you will be asked to decide
how you want to invest your retirement funds. We’ll see in a later chapter that what
you choose to do can make an enormous difference in your future financial well-being. On
a different note, is it your dream to start your own business? Good luck if you don’t understand
basic finance before you start; you’ll end up learning it the hard way. Want to know
how big your student loan payments are going to be before you take out that next loan?
Maybe not, but we’ll show you how to calculate them anyway.
These are just a few of the ways that finance will affect your personal and business
lives. Whether you want to or not, you are going to have to examine and understand financial
issues, and you are going to have to make financial decisions. We want you to do so
wisely, so keep reading.