You’re not responsible for your organisation’s financial accounting, so why do you need to know about it? 

“Not everyone is a ‘numbers’ person,” says Austin Wedge, Impellus Leadership, Management and Commercial Skills Trainer. “But a basic understanding of financial accounting principles will provide key insights into your organisation’s performance, enhance your decision-making skills and make you more aware of potential risks.” 

“An ability to interpret your organisation’s accounts will enable you to manage suppliers and customers more effectively and communicate confidently with colleagues and superiors about business and financial issues. Financial literacy is a key component of any management toolbox.”  

Not convinced? 

Still not convinced you need to find out more about cash flow, profit and loss, balance sheets and financial ratios? Take our quick test to find out if you’re bamboozled or brimming with financial confidence. 

What would you do…? 

1. Your regular client is suddenly demanding a 180-day credit period and say they’ve been offered this deal by a rival. Do you: 

  • Agree to the deal so you can continue to build loyalty. 
  • Offer 90 days as a commercially reasonable deal. 
  • Offer them £500 discount for cash on delivery. 

2. Your stock supplier offers you £18,000 worth of supplies for £14,000. No credit terms are available. Do you: 

  • Decline the offer as you don’t need the stock. 
  • Accept because the deal will give you a significant margin advantage. 

3. A potentially valuable new client wants a first order worth £30,000 for £20,000. The order may come in this quarter or the next. They would pay next quarter and have good credit references. Do you: 

  • Accept the deal and get the client onboard. 
  • Decline as you can’t do the job at that price. 


Our Finance for Non-Financial Professionals course will provide a good return on your investment. It covers basic financial and accounting concepts and terminology, including balance sheets, profit and loss accounts and cash flow. 

In addition, Impellus offers a range of Level 3 training courses that are targeted at team leaders and newly promoted managers, enabling them to analyse, understand and apply key management skills.