portion of their assets. The assets need to be accurately valued so that the company as a whole can be accurately valued.
- Resource allocation or prioritization of projects
Organizations have limited resources. So, the approval of projects is done on the basis of various methods like pay back, DCF, NPV, and IRR. IF you don’t know these methods, you cannot state why your project must be approved.
- Costing and cost management
Costing is the determination of costs for the products/services sold by a company. Cost management aims to improve a company’s profitability by managing, controlling, and eliminating expenses.
- Ability to deal with finance and accounts department
Most importantly, you can confidently deal with the finance and accounts department when you have a clear idea about the finance concepts.
Training in finance can improve your knowledge in these aspects and help you to make better decisions and contribute positively to your organization.