Key Concepts Finance

Key Concepts Finance

Interest rate: is defined as the price paid for borrowed funds over a period of time. Usually it is expressed as a percentage and represents a rate of exchange between the price of money today in terms of future money.

It is understood by finance all activities related to trade and capital management. Finances are a part of the economy and that have to do with the different ways of managing money in particular and specific situations. Finances can be divided into public and private finance depending on who is administering the subject capital: if a particular individual or the State or other public institutions.

While the forex trader and exchange of capital activity has always existed in human societies, we can say that the fifteenth century, with the rise of capitalism is the central moment to talk about finances as we know them today. Now is where banks, money changers, brokers and other characters and social actors responsible for such activities appear. At the same time, the twentieth century is the century in which capitalism going to focus almost exclusively on financial activities, turning these more important than industrial or commercial in the past.


Finances are nothing more than the administration and management of capital. In this sense, to carry out the finances of a company, a public institution or even personal finances, it is necessary to have specific training for the area and that often requires knowledge of concepts, operations and procedures of the economic area. The main purpose of finance is to allow orderly keep the balance between incoming capital (investments or returns) and projections (deposits or expenses). While most of the institutions, enterprises and companies have an area of finance professionals in charge of such activity, often personal finances are assigned by individuals to individuals trained to carry them out.

Bank management

Bank management
Bank is authorized any special corporation in the form prescribed by the General Banking Law.

The law in its Art.43 says "The governance of the banking companies shall be exercised in accordance with the laws governing the matter, to the rules of each bank and subject to the instructions of the superintendent."

The law provides for different rules of the system of administration of banks, most of which have been incorporated into the rules and instructions that has given the supervision of banks and financial institutions.

In the first meeting of shareholders should contact the directory and reduced to writing publishes the appointment of general manager and deputy general manager, published in a newspaper of the domicile of the company and inform the superintendent will be elected.

The board held ordinary session at least once a month and extraordinary session when needed, all resolutions adopted shall be recorded in the respective minutes.

The boards of banks will be composed of a minimum of five and a maximum of eleven directors and, in any case, an odd number may also have up to two alternate directors. Principals will last three years in office and may be reelected. To reduce the number of directors must obtain authorization from the Superintendency.

No one person can play at the same time, the position of director and employee of the same bank. This provision does not prevent a director serving on a temporary basis and for not more than ninety days the position of manager.

The board member who, without permission of the latter, fails to attend sessions over a period of three months in office cease ipso facto.

The shareholders are all shareholders or owners of the bank, who meet when he quotes the directory for the status of balance or return that has earned the bank.

The manager is responsible for managing the bank in that respect, develop within the institution, with strategies to maximize the profitability of the bank that requires the directory.

The directory manager at each regular session held, shall disclose all loans granted since the previous meeting, with the background to justify them and other information requested by the board. It adds that, on the same occasion must account for all adquisicisión or disposition of real or personal property, stocks Securities.

Banks have a strong commitment to transparency and to take precautions to safeguard the interests of shareholders, customers and employees. For this reason, there are numerous instances to ensure good corporate governance, fostering a climate of internal control and ensure compliance with regulations. Along the same lines, the institution has a Board composed of professionals with proven capability and independence and are mostly senior executives with a great lineup. Along with active participation in the Board, also part of various committees that allow them to get involved and learn in detail the Bank's management.

Depending on each bank is as separate departments,

acontinuación an example of some of them.

ð HR MANAGER:

Features:

You should know the new techniques of labor regulations, both in theory and their practical application in the bank.

Tasks recruitment, selection, hiring, reception and initial set of workers.

Selecting and promoting staff, with the corresponding adjustment of people to the right jobs.

Training function. You should be concerned that there are good training programs at all levels and for all positions, and the smell enough to know that those who work at the bank must have the right motivation, a good work performance will be derived. Planning, implementation and evaluation of training activities aimed at employees personally as needed.

Distributive function. Workers compensation. Planning wage policy, the evaluation system of people and places, the materialization of the payment to people, liquidation of taxation ... and negotiation of wage conditions to workers' representatives.

Being flexible, yet hard time in relationships, which must be balanced with both the management and shareholders, as workers, the works council and trade unions.

Health function. Concern for job security. Improving the organization of work, it results in a lower risk of sickness and accident.

Determine the geographic location of functional employees.

Determine staffing requirements.

Determine the characteristics for the posts requested.

Establish information systems employees.

Planning and evaluation of jobs.

Layoffs, early retirements.

Serious disciplinary matters.

MANAGER Management and Training

Features:

Develop career plan.

Performance assessment.

Redesign of posts.

Employee services (loans on special terms.

Minor disciplinary matters.

Employee training.

Manager Selection:

Features:

Selection of personnel to be hired. Conducting psychological tests and interviews.

Preparation of the Integration Plan.

Motivation, employee satisfaction.

Stress management template.

OPERATION MANAGER:

Features:

Coordination and management of the various departments of the Central Services.

Establish roles and responsibilities in that department.

Control and standardize the work set out in that department.

Quality:

Features:

It suggests ideas for improving customer service.

It is responsible for continuously improving the service provided, so that customer needs are met.

Conducts surveys of satisfaction for both customers and employees.

It is responsible for managing complaints and claims from customers.

Establishes controls for the evaluation of the Customer.

Create programs and mechanisms that differentiate the bank from the competition.

Assess the achievement of objectives for the establishment of wages.

Train staff in better treatment and customer service.

Meet customer complaints.



Risk Manager

Features:

Analysis and monitoring of active operations.

Approval and compliance to these operations.

Evaluation of private clients (companies and individuals) or public.

Training and advice to commercial operations on riskier assets.

FINANCE AND ACCOUNTING MANAGER:

Features:

Participates in the development of budget revenue and expenditure, together with management.

Make and approves the payment of fees, taxes, maintenance, rent and other expenses related to the bank's activity.

Take the financial accounting and is responsible for issuing the relevant information.

Keeping accounting

Inform presidency on the results.

Search accounting operations fiscally most advantageous way for the bank.

System Manager:

Features:

Develop banking operating systems.

Establish systems of risk assessment.

Creating databases of customers, both our own and those of competitors, and get information about it.

Cashiers electronically controlled entity.

Audit MANAGER:

Features:

Make physical inspections in the network to verify that standards are met.

Monitor the proper training of accounting entries.

Avoid possible fraud or scams, both customers and employees.

Prevent the entry of black money.

Commercial manager:

Features:

Development of trade policy.

Participate in the design of new products.

Set the development of sales campaigns.

Control and direction of trade.

Trading of pre-retirement possibilities.

Director :

Features:

He is the representative of the bank in the area.

Assumes the most important guardianships.

It is responsible for coordinating and motivating staff office.

Implementation quality in the field of office

Gather suggestions and initiatives, and report to higher levels.

a) Financial Executives:

Features:

Advises clients when making investment in stock market operations, buying mutual funds or pension.

Captures customers to the bank, offering products, promissory notes, credit line.

It is responsible for a portfolio of clients.

Inform customers of the products available.

Advice on financial and fiscal issues.

b) Cash:

Features:

Responsible for the balancing of the box.

Responsible box.

Control of the limits of cash.

Operations: Income account, payments, receipt of deposits, payments.

Operating:

Features:

Operational control.

Management and supervision of staff.

Control and management of material resources.

Handles complaints, which are for the most techniques.

Prevention of money laundering and sensitive operations.

Make a spending budget.

human resources

Normally, it is designated as human resources to all workers or employees who are part of a company or institution and is characterized by a varied play list of specific tasks to each sector. The human resources of a company are, according to the theories of business administration, one of the most important sources of wealth as they are responsible for the execution and implementation of all tasks and activities needed for the proper functioning of the same. The term is very common today and is used in various aspects of the business system.
Because of the importance that human resources are to a company or workplace, today it is customary to allocate a direct specialized in organizing such resources sector. This sector has the same name and usually consists of several qualified agents having among its main functions the selection of workers, the location of the same in the different areas of the company, maintaining good and proper communication links between different areas, establishing patterns of work, driving and development teams and tactical planning and sector-specific activities. Furthermore, the human resources sector may also have input in setting wage policies. Often, you also have to take over the dismissal of employees who do not add up to business policies, as well as the establishment of appropriate compensation.

It is considered that the organization of human resources of an institution (especially when speaking of institutions must demonstrate specific results) is one of the keys to the successful operation of it. This has to do with the notion of adequacy of each of the employees to the needs of the company so as to ensure that the results both general and specific level are expected.

STAFF INCORPORATION

The function incorporation of new staff is to determine the profile of the person we need to fill the position we are offering, detain or call applicants that meet that profile, evaluate them through tests and interviews to recruit and hire more suitable (or most appropriate), and to induce and enable him to suit his new position and the company as soon as possible.


Administration of salaries, allowances and benefits

Is the management of everything related to perceptions, allowances and benefits of workers.


For example, it is to determine and manage their compensation (wages and salaries), work schedules, holidays, your withholding (tax, pensions and insurance), discounts, etc.



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ACCOUNTING

ACCOUNTING

It is a system used to track and reason in public and private offices. Dictionary of the Royal Spanish Academy of Language.

Accounting is integrated by methods, procedures and applicable instruments to carry out the registration, classification and summary of the financial effects caused by the operations performed by a company technique; in order to effect control of the resources available, and the operations performed to prepare financial statements. 5 /

It is the art of recording, classifying and summarizing significantly and in money terms, transactions that are at least partly financial, as well as to interpret the results.
Reports of the Committee on Terminology of the American Institute of Certified Public Accountants.

It is therefore a question of recording transactions significantly and in monetary terms, and then classify, summarize and interpret. For the record operation will be meaningful to describe the operation; and express in monetary terms, compute, compute and tell. 6 /

Financial accounting is a technique used to produce a structured and systematic quantitative information expressed in monetary transactions carried out by an economic entity and certain identifiable and measurable economic events that affect it, in order to provide the various stakeholders make decisions in relation to such economic entity.
Mexican Institute of Public Accountants, Bulletin Number 1, Series "A" issued by the Accounting Principles Board.

Financial Accounting:

The financial term we use to refer to institutions, individuals, operations, documents, reports, relating to the collection and use of money.
Among the basic features of financial accounting are the following:

Reporting to third parties on the movement of the company.
The financial statements report the general configuration and operation of the company.
The accounting must necessarily be.
It is based on current or replacement cost.
Provides relevant, accurate and comparable to the various stakeholders for making decisions.
ACCOUNTING

It is a system used to track and reason in public and private offices. Dictionary of the Royal Spanish Academy of Language.

Accounting is integrated by methods, procedures and applicable instruments to carry out the registration, classification and summary of the financial effects caused by the operations performed by a company technique; in order to effect control of the resources available, and the operations performed to prepare financial statements. 5 /

It is the art of recording, classifying and summarizing significantly and in money terms, transactions that are at least partly financial, as well as to interpret the results.
Reports of the Committee on Terminology of the American Institute of Certified Public Accountants.

It is therefore a question of recording transactions significantly and in monetary terms, and then classify, summarize and interpret. For the record operation will be meaningful to describe the operation; and express in monetary terms, compute, compute and tell. 6 /

Financial accounting is a technique used to produce a structured and systematic quantitative information expressed in monetary transactions carried out by an economic entity and certain identifiable and measurable economic events that affect it, in order to provide the various stakeholders make decisions in relation to such economic entity.
Mexican Institute of Public Accountants, Bulletin Number 1, Series "A" issued by the Accounting Principles Board.

Financial Accounting:

The financial term we use to refer to institutions, individuals, operations, documents, reports, relating to the collection and use of money.
Among the basic features of financial accounting are the following:

Reporting to third parties on the movement of the company.
The financial statements report the general configuration and operation of the company.
The accounting must necessarily be.
It is based on current or replacement cost.
Provides relevant, accurate and comparable to the various stakeholders for making decisions.

what-is-job

The work is a set of activities performed, is the (physical or mental) effort made by the people, in order to achieve a goal, the production of goods and services to meet human needs. The work can also be addressed in various ways, and focused on several areas, such as economics, physics, philosophy, the evolution of work in the history, etc. International Labor Day is celebrated on May 1.

The work also gives opportunities to men and women to achieve their dreams, achieve their goals and objectives of life, besides being a form of expression. The work is what makes the individual show actions, initiatives, develop skills, and work can also be improved. The work makes a man learns to live with other people, with their differences, not to be selfish and think about the business, and not just in itself.

The work makes the individual learns to do something with a definite objective, since the days of school work at school, and thus the human being begins to conquer their own space, respect and consideration of others. When a person performs a job well done, also it contributes to their self-esteem, personal satisfaction and professional fulfillment.

Many people wonder about the difference between work and employment, and some people confuse the two concepts. The work is a task that does not necessarily give the worker a financial reward. Employment is a position or position of an individual in a company or institution, where his work (physical or mental) is duly paid. The concept of employment is much more recent than the work, it emerged in the Industrial Revolution and expanded with the evolution of capitalism.

In the Bible, the holy book common to Judaism, Christianity and Islam, work is a rather expensive (with sweat) after Adam and Eve lost paradise. Before that, the work was an honor and a pleasure, because it was to take care of nature, dominate and take advantage, without any condemnation from God, rather it was a mandate, a duty.

Academic papers

The academic papers are tasks that required of students attending institutions of higher education, and aim to develop critical thinking and intellectual capacity of students. These jobs can be exclusively written and submitted to teacher evaluation. However, many academic papers require an oral presentation before an audience.

Some academic work can be long, as the theses (PhD, to the master, to graduate) and course completion work (for technologists and technicians). Others may be shorter, and do not represent the same importance as the final works that are mentioned above, which are longer. Examples of shorter works are: articles, reports, record keeping, book reviews, communications, etc.

Work in the Economy

For the economy, the work is part of one of the three factors of production, along with land and capital. Work means that a person performs a set of activities, and receives a salary for it, that is, the work has a price, which takes place in the form of wages.

Other forms of work, such as autonomous or independent work and volunteer work. Autonomous work is when the individual exercises his activity as a free professional, that is, that is not linked to any company, and usually works in commercial or business activities.

There is also voluntary work, which is one in which the person is available to carry out an activity, without receiving any compensation. Volunteering is very common in college students, who are in the learning phase, and yet not seek to receive compensation for it. Moreover, volunteer work is often associated with social causes. Some nongovernmental organizations (NGOs) and non-profit institutions depend on people who are willing to volunteer.

Slave labor

Slave labor is when the employer exploits his employee. Slave labor emerged in the era of slavery, where employees had to do everything your boss or employer sent without receiving anything in return, and usually under torture and ill-treatment. For most of the history of civilization work was considered a despicable activity, and therefore, this activity could only be done by slaves.

Slave labor also occurs when employees are hired and terminated illegally exploiting workers. In theory, slavery was abolished in all countries the nineteenth century, but some, especially in Africa, yet keep children and women to be slaves, or even prostitution.

There are several international agreements prohibiting that countries maintain to anyone on slave regime, but this is not true, especially in poor areas such as the Philippines and Thailand.

Labour and Energy Physics

In physics, the work, which is represented by the letter W (English work) and is expressed in Joules (J), is used to measure the energy required for the application of force for a certain time of travel. The work is calculated using a formula that is multiplication of force by displacement.

The work can be a positive or negative number, because for the work to be positive force must act on the direction of travel, and to be negative, the force has to be exerted in the opposite direction.

The work in physics can be divided into no work, that is, when the work is zero; in engine work, when the force and displacement are in the same direction; and resistant, which is the opposite of the engine work, it is when the force and displacement are in opposite directions.

Work in Philosophy

Several philosophers and thinkers have debated the concept of work. For Aristotle, for example, struggles and achievements should come only with work, because it is not fair that were otherwise. For him, the work was that men should do independent.

In philosophy, the work has simple concepts such as the concept of work and its various definitions. There are also more complex concepts of work, as the activities carried out by the thinkers and their interests, as virtue, wealth, beauty, etc.

Philosophers, thinkers and researchers studied how, why and for whom men work, if they are forced to work or not, if they work in exchange for something, etc.

Social work

Social work is defined as the profession, according to the International Federation of Social Workers and the International Association of Schools of Social Work (IASSW), which promotes social change, problem solving in human relationships and the empowerment and liberation the people, to increase welfare. Using theories of human behavior and social systems, social work intervenes at the points where people interact with their environment. The principles of human rights and social justice are fundamental to social work.

Child Labour

Child labor is work by children and adolescents who are below the legal minimum age allowed to work, and vary from country to country.

In addition child labor be prohibited, any form of work that is cruel or harmful, such as torture and ill-treatment, is also a crime. Child labor is prohibited, but still happens, especially in very poor and underdeveloped countries, usually when children have to help support the family.

Teamwork

Teamwork is when a group takes a collective effort to achieve a goal or solve a problem. Teamwork is a hotly debated topic in organizations, because it believes that all employees should know how to work together to achieve goals faster.

Ability to work in a team is a very important feature today, as it facilitates the coexistence, makes the tasks are carried out more efficiently and with more agility.

Teamwork is very important in sports. Sports such as football, basketball, volleyball, and many others, require teamwork of all, to achieve the objective which is to win every game or games.