What does the average non-financial manager need to understand about financial statements?
250 word essay with reference.
Regardless of a manager's position within an organization, he or she must understand the importance of financial statements and how it affects the overall operation of the organization. In saying this, many organizations have implemented specific training for non-financial managers so they understand the financial aspect of the organization as a whole. The concept is to optimize resourcing and spending allocations for daily operations. Below we will discuss what an average non-financial manager needs to understand about the organizations financial statements.
The first reason we will discuss is managerial language as it relates to communication between the financial department and other non-financial departments. These ...
Understanding an organizations financial statements is essential to all managers to ensure their department doesn't exceed their budget. In this essay we discuss how non-financial managers need to understand these statements in order to effectively communicate with accounting and senior leadership.
Solution includes a 300 word essay with a reference.