What is Computer Application in Financial Business all about?
Computers today have assumed a very prominent place in our lives. Every answer is ‘Googled’ and every assignment is made with the help of ‘Wikipedia’. Every restaurant is found on Zomato and shopping is done via Amazon and Flipkart.
While the world around us has turned into a huge screen where with every touch everything is available we have come to realize that there is nothing impossible to the internet and the computer.
Just like every field for the subject of Financial Management too there is a lot of application and use of the computer and it is in our benefit that we keep in touch with the modern applicability of the computer to the field of financial management because the minute we step into the real world as working professionals we will be needed to be updated with our skills and knowledge to stand apart from the rest.
In semester one and three you have learnt about the different applications of the computer, similarly in this semester you will learn about computers with respect to their application in Financial Business.
What is the Syllabus of this Subject?
- Computer security
- Data bases
- Visual basic
A few Concepts Simplified:
- Networking: Computer data networking is a network that allows users (computes) to exchange data. Data is passed to different computers using network links/ data connectors. Transfer takes place in the forms of packets and connections between nodes is established using cable media or wireless media.
- Data Sharing: Data Sharing like the name describes is the ability to share data resources with multiple users at the same time. Resource sharing
- 3. Analog Signals: It is a signal used to transmit information using electric signals in which information is translated into electric pulses of varying amplitude. It is a continuous signal that represents physical measurements and is denoted by Sine waves.
- Digital Signals: Digital signals are also signals used to transform information using electric signals but in this technology the transfer of information is into binary format. These signals are discreet time signals generated by digital modulation that are denoted by square waves.
- Local Area Networks: Local area network known as LAN is a computer network that interconnects computers within a limited area.
- 6. Network Topologies: The arrangement of various nodes of a Computer can be termed as a Network topology. It can be depicted physically i.e the placement of various components of a network or logically which illustrates how data flows within a network regardless of the physical placement.
- Point to point Topology: It is a simple topology with two end points.
- Bus Topology: In this topology each node is connected to a single cable and each computer is connected to a single bus cable. The signal from the source travels in both directions until it reaches the targeted recipient.
- Mesh Topology: In this form of topology each node is connected to at least two other nodes. Mesh networks can use full mesh technology or partial mesh technology; in a full mesh technology all nodes are connected to each other in the topology while in partial mesh topology at least one node connects to all other nodes while the other nodes might be connect with those nodes they exchange data with frequently.
How to Study this Subject?
This subject is slightly tricky and not attending lectures will prove to be fatal for anyone who wishes to pass. As students of business finance your core strengths over the three years have not really developed in synchronization with technical computer based subjects. Some of you may have an idea for the same but not all of you, so it is essential for you to attend all theory and practical lectures for this subject.
Self study will be difficult in a subject like this and so if you do not have a good faculty, then catch hold of seniors, professors or whoever can help you out in understanding this subject. You can also refer to the internet to understand some concepts that you don’t understand from the textbook.
A lot of students complain that this subject is tough to crack and so taking it up on the last minute will be a recipe for a KT. In case you really haven’t touched the subject and you have exams on head you can try The Law of Repeat-ivity: As per the law of repeat-ivity to which any student who has passed out of the Indian education system will agree, “any question which has appeared in the past question papers more than once has a higher probability of appearing this year as compared to a question that has not appeared at all.”
Keeping this law in mind do ensure that you solve all past university/ board/ college prelim/ classes exam papers at least once because it definitely will give you an insight into which chapters will be given more priority by the examiner.
You can also try and tackle this subject using the LSDC method. The LSDC concept is for people who wish to study exactly from the exam point of view or who have a few days left to their exams and hence want to study to score with a limited time line at hand. LSDC stands for Long answers – short answers – distinguish between and concepts. This is the order to be followed while studying any theory chapter while you study the content in order from the largest in size to the smallest, what happens here is that while you are studying for the long answers you tend to cover a lot of matter which help you learn a lot of the short answers and concepts as a part of the given long answer. Similarly with every answer greater in length a minimum of one answer that is shorter gets covered up, and help’s you complete your syllabus within a short period of time.
Study hard and all the best 🙂
BY AMI PANDYA