Your Research for Project 1

 

In three short paragraphs (about 100 words each) answer the following questions about each the three sources that you have chosen for your paper: 

What is the proper MLA or APA citation for your source?

Who is/are the author/s and why are they credible?

What was the author’s purpose for creating the text you are using? 

Why is this a good source for your paper and how will it help you discuss your discourse community?

Running head: FINANCIAL ANALYSTS AS A DISCOURSE COMMUNITY
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FINANCIAL ANALYSTS AS A DISCOURSE COMMUNITY

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Financial analysts as a discourse Community

Zi Wang

California state university in San Bernardino

Financial analysts as a discourse Community

Introduction

In the article, Gee helps to expound more about different terms that are essential in any given field. Literacy becomes his first target and he defines it as the ability to possess knowledge that allows one to execute the functions of both writing and reading. Gee goes ahead to present a definition of discourse. In line with the definition that has been presented by Gee, a discourse is broad and it is a term that is diverse thus can be used in different forms. One of the major characteristics of discourse is acceptability. Discourse must be accepted by a group of people. The reason behind it is that a discourse brings together a network that has the same thinking, uses the same language, and acts the same.

The career that I have chosen in this case is Financial Analysis. A financial analyst is a person who provides financial advice to organizations and individuals. The work of a financial analyst is to investigate the financial situation and offer the best financial solutions. When an organization plans to invest, it must be in the best position to afford the investments. At the same time, it is essential for an organization to know if the investment will have returns or not. A financial analyst comes in place to make sure that an organization knows the advantages and disadvantages of investing in a specific investment. My discourse is becoming a financial analyst who is capable of delivering in line with the expectations of my clients or employers. I intend to know more about the factors that essential before investing in any given market. The Financial Analysts career is a discourse community because it meets the follow characteristics as explored in Gee’s Criteria for such communities.

Valuing/ Values: Financial analysts are guided by several values and principles. First, Financial Analysts must positively contribute to the core belief of the society via sustainable values generated through efficient capital and markets and their respective investment institutions. Second, a financial analyst must exercise zeal and prudence when dealing with people’s capital assets. Third, financial analysts must uphold high ethical standards and good stewardship necessary for cultivating confidence and trust to be served and secured. These standards are critical for positive results since regulations and rules are not independently sufficient.

Doing/Actions: Financial analysts work in pension funds, banks, insurance firms and other investment enterprises. Their job is to offer guidance to individuals and businesses in making investment choices. They examine and assess the financial performance of stock and other investment premises.

Saying/ Language: In saying terms, the major ways of language used by financial analysts are financial equations and other jargons such as Returns on Investment (ROI) Profits, Profitability Margins and Ratio’s, Depreciation, statement of accounts, among others. A financial analyst must be capable of determining what tool or principle applies to every circumstance and how to use it.

Believing/Belief systems: In terms of belief system, one can examine why an individual chooses to become a financial analyst. The growing complexity of financial markets, the growing needs for sustainable business, the need to sustain companies profitable and ensure continues employment of individuals, the insatiable nature of human wants and needs, all create the need for financial analysts. Precisely, the dynamic nature of modern day lives, the desire for creativity and innovation as well as the need to belong to a profession, seek employment and earn a living are among the major reasons why an individual would want to venture into a finance major.

Similar Discourse Communities

There are many other discourse communities that are related to the Financial Analysts Profession. For instance, an accountant is related with other discourse communities such as Auditors, Managers and Human Resource managers. Financial accountants update, manage, report and correct the company’s accounts to external parties. Literally, the financial accountants are the ‘keepers of accounts’ hence the profession’s name. Cost accountants or managerial accountant offer accounting information to the internal stakeholders of the firm for effective and timely decision-making.

Moreover, there are major similarities between accountants and financial analysts. Both accountants and financial analysts do not deal with long or extreme working hours, or stressing conditions of private equity associates or investment bankers (Akgun, 2018). However, there exists one exception, in tax accounting. Tax accountants spend April, March and February working six extra days in 10 hour sessions to maximize the huge tax report demand peaks at these seasons (Akgun, 2018).

Besides, many financial analysts and accountants operate in typical 40-to 54 hour weeks, receiving off-time and not normally having pull shifts on the 6th and 7th days of every week. However, others choose to work after the normal working hours through tele networking to meet any rising demands in the industry.

Controversial Issues

There are many controversial issues spanning across the profession of Finance and accounting. Any leader in financial or accounting service company knows that the industry is experiencing significant but dramatic shifts (Dinka, 2019). The impacts of those shifts are affecting companies from all perspectives and creating new sets of business problems. For instance, in major Certified Professional Accounting companies, the aging baby boomer generation in most senior positions is near retirement ages and therefore driving consolations (Dinka, 2019). Throughout the current global markets, pitched battles and wars are underway to compete and secure the highest pool of skilled and well experienced employees. In such demand and hyper competitive business environments, the capacity of a firm to anticipate upcoming obstacles create the difference between leaders in both accounting and finance.

Commoditization of services is yet another controversial issue experienced by both accounting and finance firms across the globe (Dinka, 2019). Commoditization plainly implies that the services offered by a company are viewed by customers and clients as being interchangeable with similar services offered by a myriad of other competitors.

The predicament is especially painful to associates who have spent most of their finances seeking to bud companies that are unique and differentiated (Yan, Lingyun & Lihua, 2013). The pervasiveness of Requests for Proposals (RFPs) and the recurrent inclusion of procurement departments in decision making are significantly responsible for such a problem.

Technology as indicated through artificial intelligence is yet another controversial subject in both finance and accounting. For the last decade, the major technological problem has been associated with the increased rate of advancement, posing a challenge for companies to innovate and continuously keep updated with the current technologies for competitive advantage (Yan, Lingyun & Lihua, 2013). However, with the wake of artificial intelligence, the creation of algorithms and artificially intelligent robots that can effectively perform both finance and accounting tasks as human financial accountants and financial analysts can do. Therefore, for many financial and analysts and accountant, the fear is not about the rapidly changing technology, but bout being replaced by them. However, for accounting and finance, the challenges are as much as the opportunities (Yan, Lingyun & Lihua, 2013). For example, companies that opt to leverage the strength in automated marketing attain distinct competitive advantages. Experts are also experiencing and witnessing rising trends towards professional service and packaging services altogether as new services and products. Specifically, these fields are facing challenges with technology while still sing artificial intelligence as a leverage.

Acquired Versus learned

With the intricate nature of both professions, most of the skills in the accounting profession need to be learned. This is because accounting significantly relies on already established principles and rules (Galarza, 2017). An equation or formula remains to be the same, despite the uniqueness of the circumstance. Therefore, one can easily learn the principles of accounting and learn to use them in real life situations. However, for most financial analysts, much of their knowledge needs to be much learned as acquired (Galarza, 2017). Most of the financial decisions they make are entirely dependent on other external environmental factors (Galarza, 2017). Therefore, experience acquired on-the-job basis is very paramount for financial analyst.

Identify Kit

Becoming a financial analyst is a long road in both education and employment. To be a fully certified Financial Analyst, I need first to attain bachelor’s degree though a master’s degree in Finance, accounting, mathematics or Statistics field of study. Luckily, I am currently pursuing my undergraduate degree in Finance and wishes to major in master in Finance to become a financial analyst. The core skills that I need to learn and acquire in this schooling process are communication, computer, decision making, communication and analytical skills since they are key to this field (Sharma, Joshi & Kansal, 2017).

After earning a degree, whether undergraduate or post graduate, I will need to acquire a job to gain experience and expertise. Later, I will move on and obtain a license for practice through the Financial Industry Regulatory Authority and later move on to attaining other relevant certifications such as the Chartered Financial Analyst (CFA) offered by the CFA Institute (Sharma, Joshi & Kansal, 2017). Besides, I am a strong proponent of incorporating artificial intelligence in finance, not as job competitor but as a way of attaining improved work efficiency across the industry (Sharma, Joshi & Kansal, 2017). While learning about the Finance Analysts Discourse Community, I have come to realize that the field is dynamic, requires resilience and technology can be used as force to drive positive results within the Finance profession.

References

Akgun, A. I. (2018). Do Accounting Standards affect the Business Performance and Financial Statement Manipulation on the banks? Business and Economics Research Journal, 9(3), 589-603.

Dinka, S. T. (2019). Assessment of Critical Challenges Facing Small Business Enterprises: A Survey of Small Businesses in Woliso Twon, Ethiopia. Assessment, 10(3).

Galarza, M. (2017). The changing nature of accounting. Strategic Finance, 98(8), 50.

Gee, J. P. (1989). Literacy, discourse, and linguistics: Introduction. Journal of education, 171(1), 5-17.

Goodwin, J. (2014). A comparison of internal audit in the private and public sectors. Managerial Auditing Journal, 19(5), 640-650.

Samkin, G., & Stainbank, L. (2016). Teaching and learning: Current and future challenges facing accounting academics, academics, and the development of an agenda for future research. Meditari Accountancy Research, 24(3), 294-317.

Sharma, S., Joshi, M., & Kansal, M. (2017). IFRS adoption challenges in developing economies: An Indian perspective. Managerial Auditing Journal, 32(4/5), 406-426.

Yan, P., Lingyun, C., & Lihua, L. (2013). The Information Content of Accounting Standard: A Comparison of CAS vs. IFRS [J]. Accounting Research, 7, 7-15.