Learn about key financial and accounting documents.
- Accounting is the language of business.…Understanding the common financial statements…is an essential part of learning this language…and developing business acumen.…In this video, we'll talk about five accounting…documents that are used by almost every organization.…Accounting is all about accounts.…And accounts are basically like imaginary buckets…that you can put money in to…or take money out of.…You may have a bank account, for example.…
But the bank, doesn't really keep your money…in a different place than everyone else's.…They create an account for you,…to keep track of how much money you deposit…and withdraw from the bank.…But your money is actually sitting in a vault,…mixed in with all of the other depositors money.…It's common for companies to create accounts…for different things that they spend money on.…And for different sources of revenue.…For example, there may be an account for travel…and entertainment, or T&E.…
And there may be an account for product revenue.…Each of these accounts simply lets the company…
Instructor Daniel Stanton begins the course by reviewing the key skills highlighted in the Project Management Institute (PMI) Talent Triangle, and explaining how strategy and business management fit into your professional development. Next, he explains how to align your project with the priorities of your organization, and effectively communicate the goals, benefits, and risks of your project to your stakeholders. Then, he walks through the different business functions in an organization, including marketing and sales, supply chain management, human resources, and information technology. To wrap up, Daniel explains how to leverage your business acumen to collaborate effectively with individuals throughout your organization.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Identify the role of business acumen in the PMI Talent Triangle.
- Recognize that projects are how businesses implement changes.
- Explore the characteristics of a SMART goal.
- List several business benefits of good customer service.
- Identify common financial documents.
- Review common financial analysis methods.
- Recall the three common approaches to continuous process improvement.
- Identify the differences between strategic, tactical, and operational goals.