21. My speciality. Finance and credit

Lead-in:

1. municipal bodies – муніципальні заклади

2. Stock Exchange – Фондова Біржа

3. money circulation – грошовий обіг

4. cash flow – рух готівки, ліквідності

5. post-graduate courses – аспірантура

6. debt and equity – борг і власний капітал

7. financial losses – фінансові збитки, витрати

I am a student of Donetsk State University of Economics and Trade, and I major in Finance and Credit at the Faculty of Accounting and Audit.

My speciality is very popular nowadays because our country has stepped onto the road of the transition to the market-based economy.

Our faculty is one of the largest in our university and it trains specialists in the following specialities: “Accounting and Audit”, “Finance and Credit”, “Banking”.The majority of students of our speciality will be experts in the sphere of finance and credit.Graduates from our department must be ready to work in state, regional and municipal bodies, in the sphere of banking, stock exchange operations, financial and insurance companies and investment funds.

No doubt specialists in finance and credit must get a fundamental economic basis of knowledge, that is why we study economic theory, macro-and microeconomics, theories of money circulation, financial and credit system, investment activity, taxes and taxation.

We can’t do without deep insight into studies of the following processes: financial market operations, budgeting, planning, accounting and audit at different levels, cash flow management, financial institutions and financial markets operations, management of working capital.

Specialists in the sphere of finance and credit can apply to post-graduate courses or, if they want to find a challenging job in banks, stock-exchanges, big financial and investment companies, they have to meet all the requirements for financial specialists of present time.

Nowadays it is necessary to combine economics with studying of foreign languages, and first of all, English, because it is the language of international cooperation.

In our University we have an access to special literature in English, because our library provides a large collection of books, journals and other periodicals in Economics, Finance and Credit, Taxation.

Our Faculty is provided with its own computer classes and students have access to a wide range of statistical databases and software.

Students of our faculty are involved in a very wide range of research projects, international projects with our foreign partners. Those who complete the course successfully are qualified for a wide range of jobs and further courses.

A substantial number of students apply to post-graduate courses, others are employed by financial institutions, both private and state ones.

Generally speaking, the world of finance is challenging. To ensure a company’s long-term survival and prosperity, finance managers need to make decisions about obtaining, managing funds and controlling them.

That is why most organizations have financial managers, and financial departments responsible for financial operations.

The financial Manager should decide on the suitable balance of debt and equity – what mixture of debt and equity is best for the firm. Managing the working capital is necessary to ensure the performance of the company. Decisions on any basic questions of finance involve risks. That is why no firm can avoid some financial losses; efficient financial management can bring those losses to a minimum, thus maximizing the profits.

Questions for comprehension check-up and discussion:

1. What are the disciplines that students of your speciality study?

2. What financial processes must you get an insight into?

3. Are there any prospects for students who are interested in academic research?

4. What do finance managers have to make decisions about?

5. Can you name the functions that financial departments perform?

6. What are the main questions concerning finance any company has to answer?

7. When is financial management in any company efficient?