February 13th, 2002, 2:34 pm
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And I would second that!
The perpetuating distinction between accounting and quantitative finance will fall in the near future.
In my humble opinion, the accounting procedures, such as, bilateral tax treaties and micro economic system of, let say, large corporations with distributed activities around the globe requires proper understanding in accounting, beside the quantitative knowledge of building hedging structures. For example, A Company with several sales divisions in different countries would like to hedge it exposures against foreign currency devaluation. However, in the real world such a company would prefer the *cheapest* hedging product (e.i. cheap options over expensive options). In other words, when a corporate must hedge its profits it has to spend money. Therefore, knowing the internal profit centers of a giant corporation, the local accounting and tax jurisdiction, combined with premium saving (cheapest hedge structure), surely, have a valuable impact, rather than just astute in quantitative finance, solely. So, you Quants, should....