Training And Managerial Accounting For Decision Making

801 Words Sep 30th, 2014 4 Pages
Introduction Many of the lessons learned in FIN 301 (Corporate Finance) and ACCTG 211 (Financial and Managerial Accounting for Decision Making) are evident in everyday life as well as within my internship at Farmers Insurance. This journal entry will focus on two areas where my internship corresponds to the concepts learned in these courses. The first area is the financial services Farmers offers its customers and the second is the financial situation of Farmers Insurance.
Financial Services Farmers Insurance offers financial services to its customers in the form of mutual funds and variable annuities. Farmers’ agents that choose to get a securities license are able to offer their customers advice and participation in these two services. In order to obtain a securities license, an individual must successfully complete two examinations, commonly referred to as the Series 7 and Series 66 (Edward Jones, 2014). None of the agents at my Farmers’ location currently have a securities license. Mr. Kelly, the owner of the location, has informed me that he and two other agents are currently in the process of obtaining licenses and he hopes to be able to provide financial services by the beginning of 2015. Mutual funds and annuities are very similar in the sense that when an individual participates in either, the funds they commit become part of a pool of funds, which are then invested. There are several differences between these two options, however.
The first difference is that…
Open Document