On-Demand Webinar
Basic Accounting and Finance for Non-Accounting Professionals
CE credits
- 1.00 HRCI (Human Resource Certification Institute)
- 1.00 SHRM (Society for Human Resource Management)
What You'll Learn
To strengthen the value of human resources in any company, HR professionals need to know the language of business, and that includes the financial components that have traditionally measured business progress and success. This course is designed to help you do just that.
- Learn about the importance of being able to speak the basic language of business
- Understand terminology that will help you become a more valuable business partner
- Learn and deconstruct the fundamental accounting equation and what it means
- Understand the primary financial statements, including their purpose and how they work together
- Be more conversant with executives and department leaders
- Conquer any trepidation you have about learning accounting and finance
View Full Description
Even if you’ve never taken an accounting or finance course, this webinar will give you the foundational understanding you need to improve your partnership and support of your internal customers, namely operations, sales, marketing, executives, and more.
You’ll learn how the valuable work that you do in HR ties in directly with the overall success of your company. And, you’ll be able to partner more closely with other functional leaders.
Areas Covered During Training:
Why Should You Attend:
Human resources is no longer the outdated-but-upgraded “personnel” department. As a full-fledged business function, it is imperative for HR professionals to understand basic accounting and finance terms, concepts, and metrics. Foundational knowledge of this nature is essential to the overall success of any human resources department, especially in its partnership with internal customers, executive leaders, and other stakeholders.
In this webinar, Melveen Stevenson, an HR expert with an accounting background, will focus on the basics of accounting and finance to help build your knowledge and understanding. She’ll walk you through the core accounting equation, explain the primary financial statements, and review key terms that will quickly get you up to speed. You’ll walk away with confidence in your abilities to be conversant in the “language of business” and be able to strengthen your skills in HR with enhanced abilities to understand the meaning behind the numbers.
Meet Your Speaker
Melveen Stevenson
Hi! I’m Melveen Stevenson and I’m the CEO and founder of M.S.Elemental, LLC, a human resources and business advisory firm based in Los Angeles, California.As a certified HR professional with a background in accounting and finance, I help companies to navigate the human resources “jungle” of...
View Full Bio of Melveen StevensonCE Credits
These are the continuing education credits available to you for this webinar.
- 1.00 HRCI
Human Resource Certification Institute Browse HRCI-approved webinars and earn recertification credits online. Live and on-demand HR training for PHR, SPHR, and GPHR recertification. Expert-led sessions from Aurora Training Advantage. - 1.00 SHRM
Society for Human Resource Management Aurora Training Advantage is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.
Past Webinars
Earlier sessions of this series:
- Basic Accounting and Finance for Non-Accounting Professionals
- Basic Accounting and Finance for Non-Accounting Professionals
- Basic Accounting and Finance for the Human Resources Professional/Non-Accountant Viewing
Frequently Asked Questions
Why should non-finance professionals learn basic accounting and financial concepts?
Financial literacy is no longer a skill reserved for accounting and finance departments—it is a foundational competency for any professional who wants to operate strategically within an organization. HR professionals who understand financial statements can make more compelling arguments for headcount, compensation, and training investments by connecting them to revenue impact and cost savings. Operations managers who grasp contribution margins can identify which products or services deserve resource allocation. Project leaders who understand cash flow can structure timelines that minimize working capital strain. The language of business is financial—and professionals who speak it fluently communicate more credibly with executives, participate more meaningfully in budget discussions, and are consistently viewed as more strategic partners. Melveen Stevenson's Aurora Training Advantage webinar on accounting and finance for non-professionals is specifically designed to make these concepts approachable and immediately applicable, regardless of prior financial background.
What are the three main financial statements and what does each one tell you?
The three primary financial statements together provide a comprehensive picture of an organization's financial health. The income statement (also called the profit and loss statement or P&L) shows revenues, expenses, and net profit or loss over a specific time period—it answers 'how did the business perform?' The balance sheet presents a snapshot of assets (what the organization owns), liabilities (what it owes), and equity (the residual ownership interest) at a specific date—it answers 'what is the organization's financial position right now?' The cash flow statement explains how cash moved in and out of the organization during the period across three activity types: operating, investing, and financing—it answers 'where did the cash come from and where did it go?' Understanding how these three statements interrelate—net income from the income statement flows into retained earnings on the balance sheet; cash from operations on the cash flow statement reconciles to balance sheet changes—is the foundation for genuine financial literacy at any level of an organization.
What is the accounting equation and why is it fundamental to understanding finance?
The accounting equation—Assets = Liabilities + Equity—is the foundational principle that underlies all of financial accounting. It expresses a simple but profound truth: everything an organization owns (assets) is financed either by creditors (liabilities) or by owners (equity). Every single business transaction, no matter how complex, affects this equation in a way that keeps it in balance—which is the origin of double-entry bookkeeping. For non-accountants, understanding this equation demystifies financial statements significantly: a balance sheet is simply the accounting equation presented in detail, with every asset line matched against the liabilities and equity that funded it. When a company takes on debt to purchase equipment, both assets and liabilities increase by the same amount. When a company earns profit, equity increases. Grasping this underlying logic transforms financial statements from confusing columns of numbers into coherent narratives about how an organization is funded and what it owns.
How can HR and operations professionals use financial data to make better business decisions?
Financial data is most powerful when used as a decision-making input rather than a reporting artifact. HR professionals can use labor cost data—fully loaded cost per employee including benefits, taxes, and overhead—to model the true ROI of headcount additions versus automation investments. Turnover cost analysis, expressed in financial terms, makes the business case for retention programs far more compellingly than headcount or percentage metrics alone. Operations managers can use gross margin data by product line or service to identify where to focus improvement efforts. Understanding budget variance reports allows any manager to explain their department's financial performance in the terms executives use, building credibility. Non-finance professionals who proactively request and review their department's P&L contribution—rather than waiting to be told the numbers—demonstrate the financial acumen that distinguishes operational contributors from strategic business partners. Melveen Stevenson's webinar provides the analytical frameworks and terminology needed to make these connections confidently.
What key financial terms should every non-finance professional understand?
Building a working financial vocabulary is the first step toward financial fluency. Revenue is the total income from sales before any costs are deducted. Gross profit is revenue minus the direct costs of producing goods or services (cost of goods sold). Operating income deducts overhead expenses—rent, salaries, marketing—from gross profit. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a widely used proxy for operational cash generation. Net income is the 'bottom line' after all expenses including interest and taxes. Working capital (current assets minus current liabilities) measures short-term liquidity. Cash flow refers to actual cash movement—separate from accounting profit, which can include non-cash items. Accounts receivable represents money owed by customers; accounts payable represents money owed to suppliers. ROI (Return on Investment) measures the financial return of a specific expenditure relative to its cost. Understanding these terms enables professionals to read financial reports, participate meaningfully in budget discussions, and communicate more credibly with finance and executive leadership.