Author(s): L.R.K. Krishnan
It doesn’t matter, if you don’t work in a finance role, Finance is of concern to you! Facts indicate that financial literacy’s demand is increasing enormously in the corporate world. It is time for corporate employees to gain a competitive edge and become financially literate (Hbs.edu, 2021). Financial literacy can help you succeed in any area of business, and elevate your decision-making, negotiation, and leadership skills without doubt. Understanding financial terminologies, statements, concepts, and knowing how to use this information to make a financial impact. It is pertinent to develop financial literacy at all levels in the organisation, if we want to secure business results. Simply put in, if we help prepare the lives of our employees we can expect better results. A financially literate business owner is more likely to be fully in control of their business. Gaining an understanding of what balance sheets and profit and loss statements mean provides a clear view of the financial state of your enterprise and subsequently facilitates smarter business decisions (AACA, 2021).