MC NEILL A.

SABID FINMA 3100

BSMA 4

IMPACT

Concepts, Assumptions, and Principles

Identify the axiom that made the most impression on you and why?

The following axioms presented had all the most influence on me since they all provided
knowledge and lessons that are applicable not only in the corporate world but also in everyday life.
Above all, the impression that all risks vary from one another had an impact on me, because every
financial manager or investor must understand that they must diversify all investments in order to
minimize loss due to the occurrence of risk, and that they should not put all of their money into one
project in order to avoid losing it all.

To optimize their chances of success, they should invest carefully and make sensible selections
when it comes to dividing their investments. So, if an investment has a negative consequence, there will
be another to pay or settle the losses. When it comes to decision-making and strategic thinking, this
approach makes sense for us as students or even in investors and future investors, because we should
comprehend the benefit of diversification in exposing additional opportunities for return, defending
against unfavorable market cycles, and lowering volatility.

Lastly is professionalism and ethical behavior, which is a vital tool as it encompasses all aspects
of financial transactions and includes integrity, justice, honesty, candor, and fairness. It is critical to
follow the code of ethics at work in order to protect the profession's reputation and maintain public
confidence and integrity. As an accounting student or aspiring financial professional, it is critical to
constantly adhere to the code of ethics and not be swayed by the promise of immediate gain by
engaging in unethical acts and behaviors. Don't give up or exchange your integrity and conscience for
money, no matter how difficult things get. To keep on track, adopt the attitude of a professional
accountant.
Among the goals of finance, which one can you relate personally and why?

With the given financial objectives, I'm specifically interested in the internal goals of generating
funds and earning profits. As an accounting student, financial literacy, or the proper management of
personal savings and investments, is critical for me to assure my future and, of course, to meet my own
wants and objectives. Because we are still in the midst of a pandemic and don't know when it will stop,
financial readiness is critical. As a result, I should be prepared for a wide range of opportunities and
scenarios in which I can earn money by doing something and working hard for it.

The ability to successfully budget for specified pay rates in retirement and make wise
investment decisions in line with financial objectives are two personal finance advantages. Aside from
that, saving acts as a financial "insurance policy" against life's uncertainties, improving feelings of
security and peace of mind. You can use your savings as "seed money" for higher-yielding assets like
stocks, bonds, and mutual funds if you've built up a sufficient emergency fund.

In your personal life which disciplines related to finance affected you the most and why?

The basic processes of accounting and economics had the highest influence on me among the
related subjects in finance. Accounting is vital in business because it helps in the monitoring of income
and expenses, ensures legal compliance, and offers quantifiable financial data to investors,
management, and the government that may be utilized to make business decisions. Accounting helps
students figure out how much money they'll need to save for unforeseeable school expenses and how
they'll be able to earn it. In this approach, accounting assists pupils in overcoming their financial issues.
It greatly helps me in budgeting, saving money, keeping track of my costs, and making good decisions.