Finance is one of the most highly respected and competitive fields in the world. Finance managers play a crucial role in businesses, so they need a strong foundation in mathematics and business. If you’ve decided to work in finance as early as now, find out what strand in SHS is for financial management so you can be well-prepared when you enter college.
As prestigious as the finance sector is, it’s not easy to enter or work here. This is why it’s vital for students to start building on their skills and business acumen as early as senior high school. Let’s take a look at the best strand for this career path.
What is Financial Management?
Financial Management is concerned with managing the flow of money in and out of organizations. Financial managers make sure that the company stays profitable by managing transactions, budgeting, and overall protecting the organization’s financial resources.
Some of the functions of a financial manager include monitoring spending and minimizing costs, setting the right price for products, discontinuing unprofitable products or services, cash forecasting, ensuring good ROI for investors, managing the company’s exposure to risks, reporting financial performance to the CEO and board of directors, and ensuring compliance with laws and regulations.
Thus, students who want to work in financial management must know business and accounting principles like the back of their hands. At the same time, they must have finely tuned analytical thinking, problem-solving, leadership, and communication skills, as well as attention to detail.
Financial management professionals must also be adaptable. This is vital because a company’s financial needs and situations change constantly, which means financial managers should be capable of learning about new business trends and regulations. They may also need to learn to use new financial management or accounting software quickly since new technologies may emerge multiple times throughout their career.
As you can see, the responsibilities of a financial manager are critical to the success of an organization, thus requiring capable professionals. But don’t worry because you can prepare for the tough requirements of financial management with a good education and the right SHS strand.
What is the SHS Strand for Financial Management?
To work in financial management, you need a Bachelor’s degree in accounting, business, finance, economics, or a related field. But before you can pursue those challenging degrees, you first need to choose the right senior high school strand for financial management.
Senior high school students have five strands to choose from, namely the Accountancy, Business, and Management (ABM) strand; General Academic Strand (GAS) strand; Humanities and Social Sciences (HUMSS) strand; Science, Technology, Engineering, and Mathematics (STEM) strand; and Technical-Vocational-Livelihood (TVL) strand.
Each strand focuses on different subject matters and develops unique skill sets, which we discuss in more detail in our guide to all strands in senior high.
For a career path that deals heavily with numbers and business processes, the clear choice for aspiring financial managers is the ABM strand. However, the GAS strand is another possible choice.
Accounting, Business, and Management (ABM) Strand
The Accounting, Business, and Management strand is specifically designed for students who are interested in pursuing a career in business. This strand focuses on honing students’ capabilities in mathematics and competence in various business areas like entrepreneurship, marketing, information and technology, and finance and accounting.
Through this strand, students are exposed to basic concepts in financial management, business management, corporate operations, and accounting. They’ll also be challenged to use their knowledge and skills in real-life applications to build their confidence in making decisions as financial managers usually do.
The ABM strand also develops students’ skills that are relevant to financial management. As future financial management professionals, students should identify financial risks for the organization and implement strategies to mitigate or avoid them. ABM courses refine critical thinking and analytical skills so they can extract insight through the available information to solve problems as professionals.
The strand also develops students’ communication skills, both oral and written. Students have plenty of opportunities to collaborate with their peers, conduct presentations, and write research papers and reports. By the time they graduate, they have mastered the art of financial reporting. Graduates are also capable of expressing their ideas clearly and socializing with other professionals.
As an online senior high school in the Philippines, OEd doesn’t settle for producing business robots. This financial management SHS strand also shapes students’ values, instilling honesty and compassion. From the start of their education, OEd students are aware of the importance of good business practices and accountability, which are paramount in financial management.
Take this SHS strand if you want to further refine your mathematics skills and build your business acumen. As a financial management strand, the ABM strand is designed to shape students to become great financial managers who can fulfill their accounting and management duties with great wisdom.
General Academic Strand (GAS)
The General Academic Strand is another possible choice for aspiring financial managers. The GAS strand offers a holistic academic curriculum, so it exposes students to accounting and business, social sciences and humanities, and the hard sciences.
With this strand, students will gain knowledge of business and finance principles. However, they will also be exposed to concepts from the hard sciences and social sciences, which can help hone a unique perspective on finance and business. A background in these areas can equip students with sufficient knowledge to handle the finances of companies in niche fields.
Students also develop crucial skills that can help them perform their role in financial management in the future. These include research, writing, analytical, and communication skills. GAS trains students to be adaptable, so they can apply finance principles to any field and communicate confidently with non-finance professionals.
The GAS strand also exposes students to the field of humanities where they explore philosophy, art, and sociology. This creates an awareness of other people’s experiences in students. Thus, this aspect of education helps foster a strong sense of ethics and morality, so they have a guide when they enter the world of business.
Take this SHS strand if you want a more holistic education that would allow you to have a good grasp of scientific concepts which may come in handy if you work for a company in a scientific or highly technical field. With GAS, students can trust that they will graduate with sufficient knowledge in business and accounting and refined skills that can help them be successful in the field of financial management.
Choosing the Right Financial Management SHS Strand
Pursuing a career in a highly technical field like financial management requires a strong education. The right SHS strand can equip students with the knowledge and skills necessary to help them qualify for a financial management course and, eventually, work in the field.
The Accounting, Business, and Management strand is the most suitable SHS strand for financial management. Its curriculum is designed to train students in business and accounting so that they enter college ready for technical courses.
However, the General Academic Strand is a great choice as well, especially for those who want a more holistic approach to senior high school education. Its curriculum is designed to prepare students for the rigors of college, so they can thrive in any course they choose.
Ultimately, both ABM and GAS strands are great choices for students. It’s important for each student to consider their interests and future plans before deciding on a strand.
Plan for Your Future with OEd SHS
Financial management is a smart career choice that will certainly bring lots of growth opportunities for you. However, this field does require dedication and passion. So, it’s best to start by choosing an appropriate strand in SHS for financial management.
Start your journey to a successful career in financial management with OEd. As a school in the Philippines offering online education, we guarantee that our curriculum focuses on both theory and practice in shaping future financial management professionals whether they choose the ABM strand or GAS.
Get in touch with us to learn more about our SHS strands.
