Finance for Absolute Beginners
- Format: Self-paced
- Course Duration: 1 hr 0 mins
- SHRM Professional Development Credits: 1.0
- HRCI Business Recertification Credits: 1.0
- Certificate of Completion (after passing quiz)
It’s the beginning of the day and you’re just settling into your first leadership team meeting. The CFO is about to review the organization’s financial report. You’re familiar with a few of the terms but you think to yourself, “I am not a numbers person”. Here’s the good news, you can be! This course is designed for HR professionals with no or limited financial background. The overall goal is to gain a better understanding of business and financial concepts to help build a foundation for becoming a strategic business partner.
It’ll cover the interpretation of important sections on financial statements in a simple and understandable way…by running your own lemonade stand!
It’ll also help you identify what drivers impact the organization’s performance and how you, in HR, influence those results. Take this course to become more comfortable with numbers, learn the basics and have some fun!
SHRM:
HR Jetpack is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP or SHRM-SCP. This program is valid for 1.0 PDCs for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit shrmcertification.org.
HRCI:
This activity, has been approved for 1.0 HR (Business) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
The use of the HRCI seal confirms that this activity has met HR Certification Institute's® (HRCI®) criteria for recertification credit pre-approval.
Title: What is Business and Financial Acumen?
Module: Setting The Foundation
Duration: 0:55
While some organizations define business acumen as knowledge of business terminology specific to their organization and even business skills such as communication
here is the broader definition of Business Acumen:
Business Acumen is understanding the business entity as a whole with different yet interrelated drivers of success AND understanding of the financial expression of business performance.
There are different functions within each organization and different processes. Business Acumen is understanding how all of these functions and processes come together, how the organization operates, makes money and what financial numbers mean.
For a non-financial person, looking at many, many numbers and trying to make sense out of them, it can be quite overwhelming. Let’s make it simple. Let’s imagine that you decided to run a Lemonade Stand.
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Lessons Not Completed:
- Introduction & Course Overview
- What is Business and Financial Acumen?
- Welcome to the Lemonade Stand Business
- How Does it Work in My Organization?
- Key Concept on all Financial Transactions
- Starting a Lemonade Stand Business
- Drivers of Demand
- Welcome to Day 2
- Welcome to Day 3
- Introduction
- Accounts Receivable
- Accounts Payable
- Inventory
- Summarizing All Financials
- Lemonade Stand Grows into a Nationwide Company
- How Do HR professionals Impact Performance of Their Organizations?
- How Do You in Your HR Role Impact Your Organization?
- Course Wrap Up
Instructor: Anna Samorukova
Anna designs and delivers learning and change facilitation experiences that speak to the learner and inspire people and organization reach for potential and create an impact with. She applies engaging, immersive, simulation- and game-based methodology and developments in neuroscience, psychology and concepts of motivation to learning design and change...