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Financial Statements: The Universal Language of Business

In: The Corporate Energy Strategist’s Handbook

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  • Jimmy Y. Jia

    (George Washington University)

Abstract

This chapter gives a cursory overview of fundamental financial and accounting principles. It reviews the three main financial statements as well as criteria used in making long-term versus short-term decisions. The financial statements are the formal methodologies for understanding a company’s performance and they are an essential and versatile tool. The success of the financial statements as a MetricsSystem framework can be seen in their ubiquity, from capital markets to day trading, from executive decision-makers to departmental P&L managers, from macro-economists to every individual managing their home finances. Energy strategists need to speak in the language of finance, the common tongue of business. Fluency in its components, structure, and capabilities is critical when trying to craft, communicate, and implement strategy.

Suggested Citation

  • Jimmy Y. Jia, 2020. "Financial Statements: The Universal Language of Business," Springer Books, in: The Corporate Energy Strategist’s Handbook, chapter 5, pages 37-48, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-36838-8_5
    DOI: 10.1007/978-3-030-36838-8_5
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