Academy of Finance

facts-at-a-glance

As a member of the National Academy Foundation, www.naf.org the Academy of Finance is an academic program which addresses the needs of the financial services industries by helping students gain a better understanding of financial business. Here, students are able to improve analytical, technical, and communication skills which are needed in the workplace.

Along with their required courses, Academy of Finance students take a college-level principles of accounting course in their first year. Students are also strongly encouraged to take at least three years of mathematics,  and a semester of computer applications, as well as study a foreign language. Academies are organized to encourage students to work together in an interdisciplinary project-based approach in order to become engaged in learning.

Students attend the Academy both in the 11 th and 12 th grade and work in a paid internship during the summer between the two levels. AOF students follow a curriculum that is intensive in economic and business principles, which provides them with a comprehensive picture of career options available within the industry. Course components include AP Macroeconomics, Financial Planning, International Finance, Banking & Credit, Securities Operations, and Theory for Financial Decision Making. Students are also provided with hands-on activities by participating in the internship and various job-shadowing opportunities throughout the school year. We also encourage our students to enroll in Accounting courses in their home schools prior to entering the Academy of Finance. Upon successful completion of the program, students receive 9 Maryland State Department of Education credits toward graduation.
The essential curriculum objectives for the Academy of Finance program are available at http://www.fcpsteach.org/docs/academy_of_finance.pdf

Academy Curriculum

  • The Academy of Finance is a weighted honors level program
  • A comprehensive, standards-based high school career education sequence
  • Provided by NAF to all Academy schools via state-of-the-art technology
  • Developed by leading industry and education representatives
  • Covers industry-specific knowledge and general workplace competencies
  • Supplements and enhances college preparatory and diploma programs
  • Reviewed and updated regularly for industry relevance

Local Advisory Board

  • Supported by NAF through on- and off-site workshops, dedicated staff, and membership guidelines.
  • Secure quality, paid internships for Academy students.
  • Support field trips, mentoring and shadowing experiences for students and teachers.
  • Sponsor fundraising events for student activities and scholarships.
  • Assist in curriculum development and revision.
  • Raise awareness of the Academy and build community support.

Paid Student Internships

  • Earned based on an interview, attendance, and above-satisfactory fulfillment of coursework.
  • Provide hands-on experience and exposure to a range of career options.
  • Paid at minimum wage or higher for six to eight weeks during the summer.

ACADEMY OF FINANCE COURSE COMPONENTS

STRATEGIES FOR SUCCESS

This course helps to orient students to the world of work and school. It addresses their need to develop good work and study habits, prepare resumes, prepare for job interviews, use a variety of resources, develop career plans, prepare resumes, practice job interviewing, and develop solid interpersonal skills.  Business ethics is also a large component of the course.

AP ECONOMICS

This course in macroeconomics provides an understanding of how our market economy functions in a global setting. It provides students with a survey of economic concepts including all of the 22 basic principles recommended by the Joint Economic Council.  Students are encouraged to sit for the AP Macroeconomic Exam in May.

FINANCIAL PLANNING
 

This course introduces students to the financial planning process and components of a comprehensive financial plan. They will learn how to prepare a personal financial plan that includes saving, investing, borrowing, risk management (insurance).


SECURITIES OPERATIONS
 

This course focuses on the role of the operations department in a modern securities organization. Through a study of the structure of brokerage firms, the trading process, credit and margin practices, automated processes, and government regulations, students will gain an understanding of how a securities firm serves its customers and plays an important role in our economy. Students are given an opportunity to relate their knowledge of economics, accounting, and data processing to the operations process. Emphasis is placed on the skills and attitudes necessary for success in business and college.
 

THEORY FOR FINANCIAL DECISION MAKING

This course is designed to give students an opportunity to determine how financial statements can be analyzed to evaluate the financial performance of a business and to explore the theory behind the information found on these statements. Students will learn the purpose of each of the financial statements and analyze and interpret the data.

BANKING AND CREDIT

This course is a survey of the principles and practices of banking and credit in the United States. Students learn about the major functions of banks and other depository institutions, their in-house operations and procedures, central banking through the Federal Reserve System, and modern trends in the banking industry. The credit component provides an overview of credit functions and operations, including credit risk evaluation, loan creation, and debt collection.

INTERNATIONAL FINANCE

This course allows students to explore major components of the international financial system. It includes the study of the importance of understanding the values of various cultures, foreign exchange markets,  the multinational corporation, and the impact of globalization.

PAID SUMMER INTERNSHIP

A key requirement of the National Academy Foundation (NAF) model is a structured, supervised, paid internship that enhances classroom learning by providing “real-world” context. Students will apply their education by working in a professional supportive environment.

FREDERICK COMMUNITY COLLEGE ’S PRINCIPLES OF ACCOUNTING I

This college class presents concepts and procedures related to accounting theory and practice. It includes a detailed study of GAAP, the accounting cycle, preparation of financial statements, internal control, receivables and payables, inventories and depreciation. Students earn three college credits for this course. Students earning a C-grade or better are reimbursed for their tuition expense by the Academy of Finance Advisory Board.

Academic Preparation
A strong background in both Algebra and written communication is recommended for success in this program. Accounting is also recommended but not required.

Supplies
Students who are accepted to the program will be asked to supply:

  • Notebook and paper
  • Flash drive
  • Calculator

Students are responsible for the purchase of the FCC Principles of Accounting textbook.

For students/parents who are concerned about the ability to provide these items because of financial constraints, please contact the instructor regarding options.