In big business organization you often encounter dealing with terms like revenue, liquidity and cash flow etc. Now suppose you got the job for managing product sales and you are to attend a meeting in which you have to brief your seniors regarding the matter.
The first thing is that you won’t be getting such job if you are illiterate regarding financial terms. Second if you somehow managed to get in you won’t be lasting long as you don’t know the ABC’s of the matter and humiliation is what you will have to face. A successful employee can only be one who has firm grip on what he is doing and a deep knowledge and understanding.
Increased utility of your abilities:
The proper utility of your abilities will only come with a proper understanding. It provides you with a better chance of bright career prospects and moving forward at a pace much greater than your rivals. The thing is understanding finance is not something much difficult. It does not involve much complex calculations.
Real world Application:
It is often heard that theory and practice are two different worlds. True but how can one implement something practical without comprehension of theory. A firm and deep theoretical knowledge is always a better option for new starters to move to a brighter prospect.
While handling or being in big organizations you often face challenges and need to communicate with other firms and organizations like banks and loan firms. The success for these communications lies in the fact that you are eloquent and precise so that you can land a convincing statement on your target. That would be impossible without comprehension and financial knowledge the most important of which is that you understand financial terms and employ them properly.