Finance plays a pivotal role as a fundamental prerequisite when starting any business venture. It is essential to possess funds and ensure effective financial management throughout the entire lifecycle of the business. This includes situations involving the sale or dissolution of the company. Hence, it becomes imperative to diligently manage, regulate, and monitor funds at every stage of the business journey.
In today’s business shift and industry competitiveness, many companies invest in human resources by hiring top talent. So, with the right skills and mindset, you can be a financial manager through our ABM Strand. But before discussing career paths, let us now delve deeper into the realm of finance to gain a comprehensive understanding of its significance in the business landscape.
What is Financial Management in ABM Strand?
Fundamentally, financial management involves formulating a business plan and subsequently ensuring the coordinated progress of all departments. The effectiveness of financial management empowers decision makers of the company through data which supports long-term vision. In addition to this, managing company finances aids in identifying strategic investment areas. Moreover, it provides valuable insights on funding and investments.
What would you expect in this field, should you graduate in ABM Strand? The ABM Strand is the perfect combination of multifunctional business areas such as marketing, finance and accounting, and corporate operations. Through this course, you will learn how to engage in business stimulation and accomplish projects and assignments for corporate success.
Why is Financial Management Important?
Sound management is imperative for a company to avert potential setbacks and financial losses. The significance of such management is underscored by the following key points:
- Assists organizations in their financial planning and acquisition of funds, aiding them to efficiently allocate and utilize these acquired funds.
- Supports organizations in making crucial financial decisions, thereby enhancing profitability and overall value.
- Contributes to improving the economic stability of organizations.
Why Study Financial Management?
There are many students who aspire to achieve their goals and start their own path toward success. Getting into large corporations to start a business always requires skill and financial management prowess. Having that said, here are reasons to study:
1.Diverse Career Prospects
Engaging in studies unlocks a myriad of career opportunities, spanning both the private and public sectors. These prospects encompass fields such as investment banking, entrepreneurship, financial analysis, financial and managerial accounting, as well as strategic financial management. Take a look at some of these diverse career options:
- Corporate manager
- Investment banker
- Financial advisor
- Financial analyst
- Financial examiners
- Financial managers
- Personal financial planners
- Budget analysts
- Investor relations associate or executive
- Credit analyst
2. Enhancing Interpersonal Skills
Enrolling in a financial management course helps you develop your communication and teamwork skills. And as you collaborate with your peers, you naturally cultivate meaningful relationships, honing the ability to interact effectively in professional settings.
3. Cultivating a Well-Rounded Personality
Immersing oneself in studying financial management provides students opportunity to learn how professionals in this realm handle work relationships. In addition, the course naturally enhances personality traits, knowledge base, and communication prowess.
Why Start With the ABM Strand to Become a Financial Manager?
Starting with the Accountancy, Business, and Management (ABM) strand in senior high school can provide a solid foundation and knowledge base that can be advantageous for individuals aspiring to become financial managers. The ABM strand synergizes creativity, mathematical acumen, and business acumen to cultivate the next generation of exceptional business leaders. It strikes a perfect balance between practical skill development and real-world application.
Here are some reasons ABM strand is the perfect fit for financial managers and students aspiring a career in this field.
1. Relevance of subjects and courses
The ABM strand curriculum includes subjects that are directly related to finance and accounting, such as Financial Management, Business Mathematics, and Principles of Marketing. These subjects provide a strong foundation and essential knowledge for students aspiring to become a financial manager.
2. Focus on Business and Management
ABM focuses on business principles and management concepts. Financial managers need to understand the overall business environment, strategic planning, and decision-making processes, making the ABM strand an appropriate starting point.
3. Knowledge of Accounting
Financial managers often deal with financial reports, budgets, and financial statements. Studying accounting in the ABM strand can be advantageous, as it helps develop the necessary skills to interpret financial data accurately.
4. Network Building with Businesses
During the ABM strand, students may have opportunities to interact with professionals, attend seminars, and participate in business-related activities. These experiences can facilitate networking and provide insights into the financial industry.
5. Enhancement of Entrepreneurship Skills
ABM also emphasizes entrepreneurship and business development. As a financial manager, you may need to work closely with entrepreneurs and understand their financial needs and challenges. The Senior High School ABM curriculum emphasizes fundamental principles in various functional areas of business, including marketing, finance and accounting, information technology, and entrepreneurship.
By enrolling in the ABM strand, students gain comprehensive knowledge in financial management, business management, company operations, and accounting concepts, preparing them for prospective roles as business managers, company accountants, and entrepreneurs.
Forge the Path as an Entrepreneur by Studying at CIIT
In today’s digital age, starting a business has become more accessible through online platforms, attracting many young individuals. However, navigating the business world requires expertise and knowledge. That’s where the ABM strand comes in. By delving into subjects like accounting, finance, entrepreneurship, and marketing, students gain essential business acumen and skills that will make them competitive industry experts in the future.
CIIT provides a dynamic learning environment that cultivates creativity, business acumen, and the skills needed to excel in today’s competitive landscape. Our specialized courses are designed to equip you with the knowledge and tools essential for building successful ventures.
Upon graduation, ABM students have several paths they can pursue. They can start their own businesses, continue their studies in business-related courses, or switch to different career paths. The knowledge and skills acquired during the ABM program remain valuable and applicable in various fields. At CIIT, we believe in nurturing innovation, ambition, and the spirit of entrepreneurship.
Are you ready to seize the opportunity and build a solid foundation for your journey as an entrepreneur? Start a journey at SHS Accountancy, Business and Management Strand and as entrepreneur by completing Bachelor of Science in Entrepreneurship.