Why minor in IS if you are a Finance Major?
As more sophisticated technology is implemented across all organizations, demand for systems expertise will remain strong.
To determine whether a firm is obtaining the best return on its investments, financial managers must sift through a considerable amount of information from both external and internal sources. Finance and accounting systems support strategic, tactical, and operational level decisions. Profit planning systems are used to establish long-term investment goals for the organization and provide long-range forecasts about the firm’s financial performance. Budgeting systems help managers oversee and control the organization’s financial resources. To support operations, systems such as accounts payable and accounts receivable track the flow of funds in the firm through paycheck and vendor payment transactions, securities reports, and receipts.
Finance Majors with a minor in Information Systems contribute to financial management in organizations by:
- Understanding inputs and outputs of financial information systems
- Assisting in managing and modifying the financial data that is collected
- Contributing to short- and long-term financial decisions
- Evaluating different vendor systems (e.g. profit planning systems) to identify which ones most closely match the organization’s needs
- Identifying IT-based approaches for streamlining the organization’s financial management processes
Finance Majors who complete an IS minor (or a dual degree in Finance and Information Systems) are well positioned for jobs in most organizations and can compete for jobs as:
|Actuarial Services Manager
Business Process Analyst-Finance
Finance ERP Analyst
Finance MIS Analyst
Finance Systems Controller
Finance Technology Analyst
SAP Finance Consultant
Last updated: 2/4/2016