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About Finance



Finance studies and addresses the ways in which individuals, [businesses], and organizations raise, allocate, and use monetary [factors of production] over time, taking into account the [risks] entailed in their projects. The term "finance" may thus incorporate any of the following:
  • The study of [money] and other [asset]s;
  • The management and control of those assets;
  • Profiling and managing project risks;
  • The science of managing money;
  • As a verb, "to finance" is to provide funds for [business] or for an individual's large purchases (car, home, etc.).


The activity of finance is the application of a set of techniques that individuals and organizations (entities) use to manage their money, particularly the differences between income and expenditure and the risks of their investments.

An income that exceeds its expenditure can lend or invest the excess income. On the other hand, an entity whose income is less than its expenditure can raise capital by borrowing or selling equity claims, decreasing its expenses, or increasing its income. The lender can find a borrower, a financial intermediary, such as a [bank] or buy notes or bonds in the [bond market]. The lender receives interest, the borrower pays a higher interest than the lender receives, and the financial intermediary pockets the difference.

A bank aggregates the activities of many borrowers and lenders. A bank accepts deposits from lenders, on which it pays the interest. The bank then lends these deposits to borrowers. Banks allow borrowers and lenders, of different sizes, to coordinate their activity. Banks are thus compensators of money flows in space.

A specific example of corporate finance is the sale of stock by a company to institutional investors like investment banks, who in turn generally sell it to the public. The stock gives whoever owns it part ownership in that company. If you buy one share of XYZ Inc, and they have 100 shares outstanding (held by investors), you are 1/100 owner of that company. Of course, in return for the stock, the company receives cash, which it uses to expand its business in a process called "equity financing". Equity financing mixed with the sale of bonds (or any other debt financing) is called the company's capital structure.

Finance is used by individuals (personal finance), by governments (public finance), by businesses (corporate finance), etc., as well as by a wide variety of organizations including schools and non-profit organizations. In general, the goals of each of the above activities are achieved through the use of appropriate financial instruments, with consideration to their institutional setting.

Finance is one of the most important aspects of business management. Without proper financial planning a new enterprise is unlikely to be successful. Managing money (a liquid asset) is essential to ensure a secure future, both for the individual and an organization.

Personal finance Questions in personal finance revolve around
  • How much money will be needed by an individual (or by a family) at various points in the future?
  • Where will this money come from (e.g. savings or borrowing)?
  • How can people protect themselves against unforeseen events in their lives, and risk in financial markets?
  • How can family assets be best transferred across generations (bequests and inheritance)?
  • How do taxes (tax subsidies or penalties) affect personal financial decisions?


Personal financial decisions may involve paying for education, financing [durable goods] such as [real estate] and cars, buying [insurance], e.g. health and property insurance, investing and saving for [retirement].

Personal financial decisions may also involve paying for a loan.

Business finance In the case of a company, managerial or corporate finance is the task of providing the funds for the corporation's activities. For [small business], this is referred to as [SME finance]. It generally involves balancing risk and profitability.

Long term funds would be provided by [ownership equity] and long-term [credit (finance)], often in the form of [Bond (finance)]s. These decisions lead to the company's [capital structure]. Short-term funding or [working capital] is mostly provided by banks extending a line of credit.

On the bond market, borrowers package their debt in the form of bonds. The borrower receives the money that it borrows by selling the bond, which includes a promise to repay the value of the bond with interest. The purchaser of a bond can resell it so that the actual recipient of the interest payments can change over time. Bonds allow lenders to recoup the value of their loan by simply selling the bond.

Another business decision concerning finance is investment, or [fund management]. An investment is an acquisition of an [asset] in the hope that it will maintain or increase its value. In [List of finance topics#Investment management] -- in choosing a [portfolio (finance)] -- one has to decide what, how much and when to invest. In doing so, one needs to...

  • Identify relevant objectives and constraints: institution or individual goals, time horizon, risk aversion and tax considerations;
  • Identify the appropriate strategy: active v. passive -- hedging strategy
  • Measure the portfolio performance


Financial management is duplicate with the financial function of the [Accounting profession]. However, [financial accounting] is more concerned with the reporting of historical financial information, while the financial decision is directed toward the future of the firm.

Capital Capital is the money which gives the business the power to buy goods to be used in the production of other goods or the offering of a service.

Sources of capital Capital market
  • Long-term funds are bought and sold:
    • Shares
    • Debentures
    • Long-term loans, often with a mortgage bond as security
    • Reserve funds


Money market
  • Financial institutions can use short-term savings to lend out in the form of short-term loans:
    • Credit on open account
    • Bank overdraft
    • Short-term loans
    • Bills of exchange
    • Factoring of debtors


Borrowed capital This is capital which the business borrows from institutions or people, and includes debentures:

  • Redeemable debentures
  • Irredeemable debentures
  • Debentures to bearer


Own capital This is capital that owners of a business (shareholders and partners, for example) provide:

  • Preference shares:
    • Ordinary preference shares
    • Cumulative preference shares
    • Participating preference shares
  • Ordinary shares
  • Bonus shares
  • Founders' shares


Differences between shares and debentures
  • Shareholders are effectively owners; debenture-holders are creditors.
  • Shareholders may vote at AGMs and be elected as directors; debenture-holders may not vote at AGMs or be elected as directors.
  • Shareholders receive profit in the form of dividends; debenture-holders receive a fixed rate of interest.
  • If there is no profit, the shareholder does not receive a dividend; interest is paid to debenture-holders regardless of whether or not a profit has been made.


Fixed capital This is money which is used to purchase assets that will remain permanently in the business and help it to make a profit.

Factors determining fixed capital requirements
  • Nature of business
  • Size of business
  • Stage of development
  • Capital invested by the owners


Working capital This is money which is used to buy stock, pay expenses and finance credit.

Factors determining working capital requirements
  • Size of business
  • Stage of development
  • Time of production
  • Rate of stock turnover
  • Buying and selling terms
  • Seasonal consumption
  • Seasonal production


The desirability of budgeting Capital budget This concerns fixed asset requirements for the next five years and how these will be financed.

Cash budget Working capital requirements of a business should be monitored at all times to ensure that there are sufficient funds available to meet short-term expenses.

Management of current assets Credit policy Credit gives the customer the opportunity to buy goods and services, and pay for them at a later date.

Advantages of credit trade
  • Usually results in more customers than cash trade
  • Can charge more for goods to cover the risk of bad debt
  • Gain goodwill and loyalty of customers
  • People can buy goods and pay for them at a later date.
  • Farmers can buy seeds and implements, and pay for them only after the harvest.
  • Stimulates agricultural and industrial production and commerce.


Disadvantages of credit trade
  • Risk of bad debt
  • High administration expenses
  • People can buy more than they can afford.
  • More working capital needed


Forms of credit
  • Suppliers credit:
    • Credit on ordinary open account
    • Instalment sales
    • Bills of exchange
    • Credit cards
  • Contractor's credit
  • Factoring of debtors


Factors which influence credit conditions
  • Nature of the business's activities
  • Financial position
  • Product durability
  • Length of production process
  • Competition and competitors' credit conditions
  • Country's economic position
  • Conditions at financial institutions
  • Discount for early payment
  • Debtor's type of business and financial position


Credit collection Overdue accounts
  • Cards arranged alphabetically in card index system
  • Attach a notice of overdue account to statement.
  • Send a letter asking for settlement of debt.
  • Send a second or third letter if first is ineffectual.
  • Threaten legal action.


Effective credit control
  • Increases sales
  • Reduces bad debts
  • Increases profits
  • Builds customer loyalty


Sources of information on creditworthiness
  • Business references
  • Bank references
  • Credit agencies
  • Chambers of commerce
  • Employers
  • Credit application forms


Duties of the credit department
  • Legal action
  • Taking necessary steps to ensure settlement of account
  • Knowing the credit policy and procedures for credit control
  • Setting credit limits
  • Ensuring that statements of account are sent out
  • Ensuring that thorough checks are carried out on credit customers
  • Keeping records of all amounts owing
  • Ensuring that debts are settled promptly


Stock Purpose of stock control
  • Ensures that enough stock is on hand to satisfy demand.
  • Protects and monitors theft.
  • Safeguards against having to stockpile.
  • Allows for control over selling and cost price.


Stockpiling This refers to the purchase of stock at the right time, at the right price and in the right quantities.

Advantages
  • Losses due to price fluctuations and stock loss kept to a minimum
  • Ensures that goods reach customers timeously; better service
  • Saves space and storage cost
  • Investment of working capital kept to minimum
  • No loss in production due to delays


Disadvantages
  • Obsolescence
  • Danger of fire and theft
  • Initial working capital investment is very large
  • Losses due to price fluctuation


Influence of stock management on rate of return
  • Right price
  • Right quantity
  • Right quality
  • Right place
  • Right time
  • Right property


Rate of stock turnover This refers to the number of times per year that the average level of stock is sold. It may be worked out by dividing the cost price of goods sold by the cost price of the average stock level.

Determining optimum stock levels
  • Maximum stock level refers to the maximum stock level that may be maintained to ensure cost effectiveness.
  • Minimum stock level refers to the point below which the stock level may not go.
  • Standard order refers to the amount of stock generally ordered.
  • Order level refers to the stock level which calls for an order to be made.


Cash Reasons for keeping cash
  • The transaction motive refers to the money kept available to pay expenses.
  • The precautionary motive refers to the money kept aside for unforeseen expenses.
  • The speculative motive refers the money kept aside to take advantage of suddenly arising opportunities.


Advantages of sufficient cash
  • Current liabilities may be catered for.
  • Cash discounts are given for cash payments.
  • Production is kept moving.
  • Surplus cash may be invested on a short-term basis.
  • The business is able to pay its accounts timeously, allowing for easily-obtained credit.


Management of fixed assets Depreciation Depreciation is the decrease in the value of an asset due to wear and tear or obsolescence. It is calculated yearly to ensure realistic book values for assets.

Insurance Insurance is the undertaking of one party to indemnify another, in exchange for a premium, against a certain eventuality.

Uninsurable risks
  • Bad debt
  • Changes in fashion
  • Time lapses between ordering and delivery
  • New machinery or technology
  • Different prices at different places


Requirements of an insurance contract
  • Insurable interest
    • The insured must derive a real financial gain from that which he is insuring, or stand to lose if it is destroyed or lost.
    • The item must belong to the insured.
    • One person may take out insurance on the life of another if the second party owes the first money.
    • Must be some person or item which can, legally, be insured.
    • The insured must have a legal claim to that which he is insuring.
  • Good faith
    • Uberrimae fidei refers to absolute honesty and must characterise the dealings of both the insurer and the insured.


Shared Services There is currently a move towards converging and consolidating Finance provisions into [shared services] within an organization. Rather than an organization having a number of separate Finance departments performing the same tasks from different locations a more centralized version can be created.

Finance of states Country, state, county, city or municipality finance is called public finance. It is concerned with
  • Identification of required expenditure of a public sector entity
  • Source(s) of that entity's revenue
  • The budgeting process
  • Debt issuance ([municipal bond]s) for public works projects


Financial economics Financial economics is the branch of [economics] studying the interrelation of financial [variables], such as [price]s, [interest rate]s and shares, as opposed to those concerning the real economy. Financial economics concentrates on influences of [Real vs. nominal in economics] economic variables on financial ones, in contrast to pure finance.

It studies:
  • [List of finance topics#Valuation] - Determination of the fair value of an asset
    • How risky is the asset? (identification of the asset appropriate discount rate)
    • What [cash flows] will it produce? (discounting of relevant cash flows)
    • How does the market price compare to similar assets? (relative valuation)
    • Are the cash flows dependent on some other asset or event? (derivatives, contingent claim valuation)


  • [List of finance topics#Financial markets]
    • Commodities - [List of finance topics#Commodity markets]
    • Stocks - [List of finance topics#Stock market]
    • Bonds - [List of finance topics#Bond market]
    • Money market instruments- [List of finance topics#Money market]
    • Derivatives - [List of finance topics#Derivatives market]


  • [List of finance topics#Financial institutions and banking] and [List of finance topics#Financial supervision, regulation, and accreditation]


Financial mathematics Financial mathematics is the main branch of applied mathematics concerned with the financial markets. Financial mathematics is the study of financial data with the tools of [mathematics], mainly [statistics]. Such data can be movements of securities—[stock]s and [Bond (finance)]s etc.—and their relations. Another large subfield is [actuarial science].

Experimental finance [Experimental finance] aims to establish different market settings and environments to observe experimentally and analyze agents' behavior and the resulting characteristics of trading flows, information diffusion and aggregation, price setting mechanisms, and returns processes. Researchers in experimental finance can study to what extent existing financial economics theory makes valid predictions, and attempt to discover new principles on which such theory can be extended. Research may proceed by conducting trading simulations or by establishing and studying the behaviour of people in artificial competitive market-like settings.

Related Professional Qualifications There are several related [professional qualification]s in finance, that can lead to the field:
  • [Qualified accountant] qualifications: [Chartered Certified Accountant] ([Association of Chartered Certified Accountants], UK certification), [Chartered Accountant] ([Chartered accountant], certification in Commonwealth countries), [Certified Public Accountant] ([CPA], US certification)
  • Non-statutory [accountancy] qualifications: [Chartered Cost Accountant] CCA Designation from [AAFM]
  • Business qualifications: [Master of Business Administration] ([MBA]), [Doctor of Business Administration] ([DBA])
  • Finance qualifications: [Chartered Financial Analyst] (CFA),[Certified International Investment Analyst]([CIIA]), [Association of Corporate Treasurers] (ACT), [Master of Science in Finance], [Certified Market Analyst] (CMA/FAD) Dual Designation, [Master Financial Manager] (MFM), Corporate Finance Qualification (CF) Register Financial Planner (RFP), Certified Financial Consultants (CFC)
  • Quantitative Finance qualifications: [Master of Quantitative Finance] (MQF), [Master of Computational Finance] (MCF), [Master of Financial Mathematics] (MFM)


See also Main lists: [List of basic finance topics] and [List of finance topics]

  • [Funding], a synonym of financing
  • There are also over 250 other finance articles in [Wikipedia]. See [list of finance topics].
  • [List of publications in economics#Finance]
  • [Forex]
  • [Financial plan]
  • [Economic Calendar]
  • [Financial planning]
  • [Payday loan]
  • [Right-financing]
  • [Settlement (finance)]
  • [Behavioral finance]


External links
  • Wharton Finance Knowledge Project - aimed to offer free access to finance knowledge for students, teachers, and self-learners.
  • For material covering three areas in finance - corporate finance, valuation and investment management, see Prof. Aswath Damodaran
  • For links to finance web sites, grouped by topic see Web Sites for Discerning Finance Students, Prof. John M. Wachowicz -
  • For the introductory finance web site at the [University of Arizona], studyfinance.com
  • For introductory articles, a full glossary and links to resources on behavioral finance see the BF gallery
  • For the law of the financial markets see SECLaw.com
  • For stock market related financial definitions see TheStreet.com Glossary
  • The Finance Director provides access to essential suppliers of financial services and solutions
  • Middle East Banking & Finance News — ArabianBusiness.com





Information Reference: Wikipedia.org


Finance

Questions and Answers

0% finance "deal" - is this legal?

Q) I recently ordered furniture at a UK store. All items had 0% finance. Because I was buying 4 items I asked if i could have any discount. I was asked if i was planning on taking the 0% finance and said that if i didn't the deal would have to be really good. I was offered 2 x free delivery (£39 each) plus £50 discount and went ahead. As we were completing the transaction, the saleswoman deducted the full amount from my credit card. I said "what about the 0% finance?" She said the deal was for not taking the finance, rather than for buying 4 items. I feel stupid but out of embarrassment I let her charge me the full amount on my credit card. Since having time to do the calculations, i realise she has cost me a lot of money! I got about 5% worth of total discount to forgo 3 years of 0% credit. I had heard that it was illegal to offer a discount for not taking 0% credit. Have I grounds to challenge them & ask for the credit after all? 1st 2 items will be delivered tomorrow.

A) There is nothing you can do. You should fully understand a financial transaction before you execute it.

Car Finance Guarantor - Help?

Q) hi All, I wonder if someone could offer any advice. My sister purchased a car about 9 months ago and took out finance on it. She managed to persuade my mum to go guarantor on the payments (as she has a poor credit history). She bounced the first payment so the finance company called my mum and she immediately got the Direct Debit put through her bank account to ensure the money went out every month. However, since then, my sister (who lives at home and is turning in to more of an adult brat by the day) has not met one payment and my mum has had to pay the finance every month (my mum pays everything on time and the thought of having a payment that she's even partly responsible for being missed would fill her with horror). However, she has retained full use of the car despite not paying a penny for it. Question is, is there anything my mum can do? Will the finance company let her sell the car? I'm not sure as my sister is the registered owner and keeper? thanks But as the car is registered with DVLA in my sister's name, surely the car is legally hers and my mum can't just take the keys? That's what my sister keeps saying anyway. Personally, I'd buy a clamp and put it on the wheels to stop her driving it until she starts paying up!

A) if your mum is making the payments its her car,take the keys off your sister

is it legal to finance a vehicle with no mot?

Q) we bought a car on finance from a garge , it subsequently had no mot, the garage went into liquidation, we had the vehicle mot,d which failed severely, we contacted the finance company who agreed to pay for the repairs. the car was impounded by the garage due to outstanding monies owed. the car was returned to the finance company under the qaulity goods act 1975 by us as the finance company would not issue a new finance agreement and arre now chasing us for the monies. this is over 6 years ago is this legal

A) Why not? You borrowed the money. You owe it.

Car Finance???

Q) Anybody got any ideas how I can get rid of my current car? The full story goes like this, I purchased a car through a finance company about 5 years ago. I was making payments every month for about 3 years then lost my job and was unable to pay the full amount. After getting another job I continued to pay for the next three years. Now my wife has been awarded disability living allowance at the higher rate and will be getting a car with it. The I have paid about 75% of the finance agreement of and now want shot of the car. I don't think I can sell the car as there is still finance on the car? Any sensible ideas would be great.

A) You're right, because you can't get the title from the (bank, presumably) until it's paid off. You can always sell it back to the bank.. but you will lose a considerable amount of value. OR, you can transfer payments to whomever you wish to sell it for by going to that finance organization with the other person. ie) you have $5000 left to pay.. car is worth $10000.. have the new buyer pay you $5000 (or most likely less in this situation)... and give him the payments.

Car Finance - Help and Advice Needed.?

Q) My sister was accepted for finance on a car subject to her providing information such as her marriage certificate and insurance. She had a telephone call yesterday from them to say she can no longer have the car because she was on sick from work. She was due back to work on Monday. Can her employee give this information to the finance people? But when the finance asked to clarify other information they wouldn't. To cut a long story short my sister and this girl don't see eye to eye at work!! Any advice on what she should do now??? Company Black Horse Finance

A) This all sounds a bit fishey. I used to sell car finance and the finance company just do a standard credit check. They do not contact employer. Has a credit card company ever contacted your employer when you apply for a card ???? Something is wrong here. Unless it is one of those " Bad Credit, no problem " firms. Iain.

Is degree in Finance is the best choice.?

Q) I AM HOPING SOMEONE CAN HELP ME HERE. I AM HERE IN FLORIDA , DID COLLEGE FOR ABOUT 2 YRS 5 YRS AGO. HAD TO LEAVE FOR SOME PERSONAL REASONS. NOW I AM AT A PLACE WHERE I CAN START AGAIN. WANT TO TAKE FINANCING , BUT THEN DONT KNOW WHICH ROUT TO GO IN FINANCING , BANKING .CORPORATE,MARKETING, AND ALSO NOT SURE IF FINANCE IS THE BEST WAY TO GO. I WANT TO MAKE MORE MONEY . AND BASICALLY ASKING IF ANYONE CAN TELL ME MORE ABOUT JOB OPPURTUNITIES IN FINANCE AND SOME ONE FROM THAT FIELD. JUST TOO MANY QUESTIONS IN MY HEAD ,LOOKING FOR A START. ANY FEEDBACK WOULD BE GREAT. THANKS. ALSO LOOKING FOR IS THAT IF THIS WILL EVENTUALLY LEAD TO A GOOD PAYING JOB.

A) http://www.careers-in-finance.com/

cancelling car finance?

Q) me and partner tried to get a car on finance but couldnt so my mum got us the car on finance in her name but the money comes out of my bank account but the log book is registered in my partners name now he has left me coz he has feelings for someone else but doesnt know who he wants, so i took the car off him and now he wants it back and said he was going to the garage where we got it from so he can get it back! but my mum and i want to give it back to the finance company... can we do this? and does he have every right to get the car back?

A) Your mother has absolutely every legal right in the world to cancel. It will cost a bit for admin but your partner has not one jot of legal right of ownership.

Finance discounts?

Q) I understood that it was illegal to offer a discount for taking finance as against paying cash. A double glazing firm has quoted me a price for my windows but has said that they will offer me a lower price for using their finance. Is this ok? I do know that you cannot be offered a better price for cash so does it work the other way round? While I understand this first answer, my question is purely related to the legality of the offer.

A) the finance deal will be better for them even i f they have lowered the price because within the deal you will be offered a longer repayment plan with x amount of interest added on so therefore they will make more money

Car Finance for Bad Credit History?

Q) In the UK where is the best place to get Car finance when I have had previous Credit problems? So many you see on the internet but not sure where to go. Alternatively whats the position if a relative to buy the vehicle on finance but for me to Insure it??

A) By previous credit problems, I guess you mean that you don't pay your debts. Plenty of places will give you credit - they'll just charge you a higher rate of interest to reflect the bad risk they're taking on. They are all much the same - they won't break your legs, but won't think twice about sending in the baliffs if you miss payments. If a relative buys the vehicle on loan, they are solely responsible for the payments. You can be the keeper, insure it, drive it - that's all legal. You have to put yourself in the position of the relative - would you trust you to keep up the payments, knowing of your past history?

Car finance settlement figure?

Q) Can anyone help me with trying to figure out how much my settlement figure on my car finance would be. I took out the finance last august 06. The car total was 3895 and i pay 124.62 a month. The first payment was 155. I have tried phoning them but their offices are open 9-4 Mon-Fri which is just useless to me as im in work. Does anyone know how the calculate this kind of figure? Thanks in advance! Ax Sorry the term was 36 months and I am not aware of the intrest rate i'm afraid. I tried this lunch hour but it was pathetic as I spent my whole 45 minutes on hold! I dont want to have to wait until my next day off. Its slowly starting to frustrate me now. Also the total repayment would come to 4850...so im not sure if you could work the intrest rate out from this? Ax I am a midwife, so therfore work in the hospital. I never take my phone into work with me. Its okay I shall just have to phone them when I get five

A) 9.25% for 36 months (3yrs) using the info provided. My online calculator yielded a monthly payment of $124.31 -- which is pretty close to your value. Here's the URL: http://www.mortgage-net.com/calculators/mp_cl.html Best wishes.

Finance....?

Q) Say you are an analyst with an investment management company and are asked to evaluate the following valuation methods as to the most appropriate for a possible venture index composed of dot.com companies that have no earnings, never had any earnings, and do not expect any earnings in the immediate future. a. DDM b. FCFE c. Price/Earnings d. Price/Book Out of the 4 methods which one would you select, and briefly explain of support for your selection, which could include why the other methods are inappropriate.

A) I would choose b. FCFE because at this point in time you are deal with a start up so they would not be paying dividends most likely (that eliminates DDM), they probably have negative or low earnings (so P/E is eliminated), and they probably don't have much in the way of real assets at this point (eliminating price/book). What you really want to know is if they have enough free cash flow (which is what the FCFE will give you) in order for you to judge whether or not they will be able to sustain themselves until they are profitable because if they can't they will go bankrupt. Good Luck!!!

Finance....?

Q) Say you are an analyst with an investment management company and are asked to evaluate the following valuation methods as to the most appropriate for a possible venture index composed of dot.com companies that have no earnings, never had any earnings, and do not expect any earnings in the immediate future. a. DDM b. FCFE c. Price/Earnings d. Price/Book Out of the 4 methods which one would you select, and briefly explain of support for your selection, which could include why the other methods are inappropriate.

A) FCFE- without dividends and /or earnings, DDM and P/E are useless. P/B may be acceptable, but always remember Cash is fact, equity is opinion. Cashflow is the mother's milk of commerce.

Finance...?

Q) I'm studying for finals and looking over an old test. Its multiple choice and she circled the correct answer but i keep getting $928.39. Can someone please explain how i answer this problem? Thanks in advance...heres the question: The Carter Company's bonds that mature in 12 years have a par value of $1,000 and a coupon rate of 8%, with semi-annual coupon payments. The market interest rate for the bonds is 9% What is the price of these bonds? She has 927.52 marked as the correct answer but for some reason i think i remember her saying that she screwed it up and that 928.39 is the correct answer...ill double check on it and let you know if your still interested...if anyone can figure out how it was 927.52 please let me know ill keep ya posted...

A) i'm getting 928.39 as well. What did she say was the correct answer?? I tried really hard to get the 927... but I couldn't get to it. I think you're right; she made a mistake. Thanks for coming back with the info again tho.

Yahoo finance?

Q) Can you inform me if this transaction is legit. From: "Yahoo! Finance" <finance@yahoo.com> Add to Address Book Add Mobile Alert To: jaredstrunk@yahoo.com Subject: Yahoo! Finance Invoice Transaction ID 138120065 Date: Wed, 16 Aug 2006 22:57:59 -0700 Here is the invoice for your item! Dear Jared Strunk, Yahoo! Seller John Pederson has opted to conduct the transaction through Yahoo! Finance having you the Buyer for his item : 1. 1969 Dodge Charger General Lee 440 VIN Number: XP29FPB368425 The following terms were indicated by Seller : The total sale price : $5,800.00 Deposit : $2,900.00 Seller pays shipping . Inspection period : 3 day(s) Seller must ship the item in 8 day(s) to Buyer's address . -------------------------------------------------------------------------------- Seller selected Yahoo! Finance Premium Service for this transaction. Premium Service transactions are protected up to $10,000. -------------------------------------------------------------------------------- In order to speed up the process, Yahoo! Finance and The Seller agreed that you send payment via Western Union Money Transfer. If you are not familiarized with the Western Union Money Transfer service, please visit http://www.westernunion.com . You have to pay with cash at any Western Union office. Buyer is responsible for paying the Western Union transfer fees. To locate the nearest Western Union office,please click here: http://www.westernunion.com/info/agentInquiryIntl.asp -------------------------------------------------------------------------------- Delivery Information Name: Jared Strunk Address: 46 Waterplant Rd Stearns, KY 42647 United States of America Seller Address First Name: John Last Name: Pederson Street: 11 Coronation St City/State: Mansfield Zip code: NG18 2QL Country: United Kingdom How to make payment ? -------------------------------------------------------------------------------- 1. Locate the nearest Western Union Office; 2. Make the payment with cash using our agent's details below; 3. Send via fax the customer's copy of the money transfer at the following fax number : - (206)984-3611 - (206)350-0227 4. Do not make any marks on the transfer receipt copy. The following information must be readable : - the sender's and receiver's name and address - the Money Transfer Control Number (MTCN#) -------------------------------------------------------------------------------- Yahoo! Finance Agent Details First Name: Adam Last Name: Morrison Street: 14 Mark Lane City/State: London Zip code: EC3R 4NE Country: United Kingdom -------------------------------------------------------------------------------- Payments verification proccess usually takes less than 3 hous, after successfull verification seller will receive the verified payment confirmation and will be required to start the shipping process and submit shipping receipt for confirmation in 48 hours. Yahoo! Finance holds the payment until you confirm that you are satisfied with the product you received. During your inspection period, you have the option to accept or reject the item received. If you, as the Buyer, accept the terms and conditions indicated by Seller, proceed with the first step of the transaction : - Fax the payment details to Yahoo! Finance. -------------------------------------------------------------------------------- How does it work ? Buyer and Seller Agree to Terms Both parties agree to terms of the transaction, which includes a description of the merchandise, sale price and any shipping information Buyer Pays Yahoo! Finance The Buyer submits a payment, selecting cashier's check,Western Union, MoneyGram or wire transfer. Yahoo! Finance verifies the payment. Processing time varies by payment method. Seller Ships Merchandise Upon payment verification, the Seller is authorized to ship merchandise and submit tracking information. Yahoo Finance verifies that the Buyer receives the shipment. Buyer Accepts the Merchandise The Buyer has the option to accept or reject the merchandise. Yahoo! Finance Pays the Seller Yahoo! Finance pays the Seller by cashier's check,Western Union, MoneyGram or wire transfer. The transaction is complete. How Buyers are protected: Yahoo! Finance tracks the shipped merchandise and verifies it was delivered. The Seller isn't paid until the Buyer accepts the merchandise. How Sellers are protected: Yahoo! Finance confirms when the Buyer receives merchandise. The Seller is authorized to ship only after Yahoo! Finance verifies good funds. If you need to contact our Customer Support Department please respond to this email with information regarding your case by clicking the button below. Please do not respond to this message as your reply will not be received. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Hemscott Americas. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. S&P 500 index provided by Comstock. 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A) No way I would fall for this, if it sounds to good to be true then it probably is.

Finance Degree question?

Q) I have a finance degree with 30 credits in Finance and 30 credits in Business Administration but my school gave me a degree stating Bachelor of Business Administration. To me that is an insult because anybody can have a Bachelor of Business Administration but my school is not giving me my proper credit for putting in all that hard work in finance course by giving me Bachelors of Business Administration. My transcripts say Bachelor of Finance but my degree says Bachelor of Business Administration. What can I do to stand out from the crowd in my resume from those who have management, International Business, marketing, entrepreneurship, and etc majors? Because my friend has a degree from the University of Florida and it says Bachelor of Science in Finance.

A) Stand out? I'm afraid a BS isn't really going to help you stand out anyway. It is merely a stepping stone. An MBA is ante in the bigger game. On top of that you'll need an MS in Finance to stand out a bit. A law degree is a good differentiator as well. Aside from education there is one thing I look for on a resume that tells me quite a bit. How many successful startups have you had?

What finance education should I take?

Q) Hi I'm currently an IT consultant with IBM (6 years now). I'd like to find out what finance education I should take. The objective is not really to cross over into the finance world (i.e. become a banker, equity research analyst). Rather, I'd like to have a better, broad understanding of banking, financial markets and insurance. I'm also married with 2 children - so taking 2 years off work to study is not preferred (1 year full time is still ok). Some of the courses I am thinking of are: 1) Masters of Financial Engineering (National University of Singapore) 2) Masters of Financial Engineering (Nanyang Technological University) 3) CFA Exams - but I don't have experience hence can only take the exams, not get the CFA designation 4) Masters of Applied Finance (Macquarie University) 5) Masters of Applied Finance (University of Adelaide) Or is an MBA with Finance concentration a better idea? I'm not so keen on management topics at this stage of my career though - maybe later.

A) You have posed an interesting question. You plan to stay on with IBM but want to get an understanding of banking, financial markets and insurance. You would like to finish this in a year. You do not indicate where you live or what your undergraduate degree is in. If it is business or finance, your quest to finish in a year is realistic. If it is some thing else, you are realistically looking at a two year full time program or a part-time program that will take 3-4 years. The CFA program is unsuitable as you have stated yourself. The financial engineering programs do not match your objectives either. That leaves the applied finance programs. You may also want to start your search all over and specifically look for programs in banking and financial markets. Good luck! cc

What finance education should an IT consultant take?

Q) Hi I'm currently an IT consultant with IBM (6 years now). I'd like to find out what finance education I should take. The objective is not really to cross over into the finance world (i.e. become a banker, equity research analyst). Rather, I'd like to have a better, broad understanding of banking, financial markets and insurance. I'm also married with 2 children - so taking 2 years off work to study is not preferred (1 year full time is still ok). Some of the courses I am thinking of are: 1) Masters of Financial Engineering (National University of Singapore) 2) Masters of Financial Engineering (Nanyang Technological University) 3) CFA Exams - but I don't have experience hence can only take the exams, not get the CFA designation 4) Masters of Applied Finance (Macquarie University) 5) Masters of Applied Finance (University of Adelaide) Or is an MBA with Finance concentration a better idea? I'm not so keen on management topics at this stage of my career though - maybe later

A) You have posed an interesting question. You plan to stay on with IBM but want to get an understanding of banking, financial markets and insurance. You would like to finish this in a year. You do not indicate where you live or what your undergraduate degree is in. If it is business or finance, your quest to finish in a year is realistic. If it is some thing else, you are realistically looking at a two year full time program or a part-time program that will take 3-4 years. The CFA program is unsuitable as you have stated yourself. The financial engineering programs do not match your objectives either. That leaves the applied finance programs. You may also want to start your search all over and specifically look for programs in banking and financial markets. Good luck! cc

Finance SYMBOLS?

Q) HEY DUDES i wanna know how many symbols r there in yahoo finance?? and how can i get those symbols???? http://finance.yahoo.com/lookup in here if we type STG it comes the stock details about Stonepath Group Inc. isnt it ?? like that i want a way to take the whole yahoo finance details @ once !!!!!!!!!!!! or the whole yahoo finance symbols i wanna know the how they works like if theres only symbols A to C ?? or 1 to 4 in yahoo japan theres numbers !!! 1300 to 99997 like that i wanna know how they works !!!!

A) The number of symbols changes by the day. There are over 14,000+ stocks and 5,000+ mutual funds. If you want to add in options, there's a bunch more symbols. Is that what you're looking for? Hope that helps!

Re-finance car or sell?

Q) I'm moving to canada and my finance company (toyota financial services) won't let me take my car unless it's completely paid off. Is getting the car re-financed by a finance company in canada (I'm thinking the toyota finance services in Canada) better or should I sell it off in the US before coming? Kinda sad both the finance companies don't work to help their customer (I've talked to them both). Since Toyota's financed it they have the title and won't let me take it outside the US.

A) Who is going to stop you from driving your car across the Canadian border? I mean, what would Toyota have done, put an APB out for your car and have the FBI waiting on your arrival? I would have never told them anything about it. That's the craziest "rule" I've heard of. I assume, they are afraid they couldn't repossess it if you ever defaulted on the loan. At any rate, if you can get it finanaced in Canada, that's what I would do. You probably like your car and you know it's condition.

Career in Finance for BS(Computer Science) + 8 Year Experience?

Q) Current Job: Technology Architect Current Salary: 150-200K approx. Experience: 8 years Current Education: B.S.(Computer Science) Family: Small kid and working wife :) Ambition: Carve out a highly rewarding career for myself in Finance. By rewarding I mean annual income of atleast 1 million. Please do not think of me as greddy. It is just that I want to progress along my career to greater hieghts. I am not sure if this is the right move but my heart keeps telling me that I need to do this. Please guide me... here is my dilema. I want to get into finance as it is the most highly rewarding industry. I also do have lot of interest in finance (not that I dont have interest in my current field). I want to reach the higher levels but do not know much about finance field. I need to guidance on if it is really as rewarding as I think. What are the various fields in Finance that are most rewarding (like Fund management, etc etc) ? What is required of me to achieve?

A) Hard work and dedication..

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