Basic Accounting and Finance for Human Resources Professionals

Finance is the language of business, and HR professionals who understand it make stronger business partners. This 60-minute accounting and finance webinar explains the basics in plain terms, with no prior accounting or finance study needed.

You'll learn how assets, liabilities and equity fit together in the accounting equation, and how the income statement, balance sheet, cash flow statement and statement of changes in equity work together. The session also covers financial forecasting and budgeting, cost management and the financial ratios used to evaluate performance.

With this foundation, you can support internal customers in operations, sales, marketing and the executive team, and see how your work ties to the company's results.

• Explain why financial literacy matters for HR professionals
• Use key financial terms with confidence
• Describe how assets, liabilities and equity form the accounting equation
• Read the four main financial statements and how they work together
• Build basic financial forecasts and budgets
• Apply cost control strategies and key financial ratios

• Why financial literacy matters in business
• Key financial terms for business partners
• Assets, liabilities and equity and how they interact in the accounting equation
• The income statement, balance sheet, cash flow statement and statement of changes in equity, and how they connect
• Creating financial forecasts and budgets
• Managing and controlling costs
• Financial ratios for evaluating business performance

Understanding financial fundamentals helps you make informed decisions and work more closely with functional leaders. This session gives HR staff a clearer view of how financial results affect compensation, benefits and department budgets, and how their role contributes to company success.

It also suits entrepreneurs and small business owners, project managers who handle budgets, sales and marketing professionals who need to read financial metrics, and operations managers responsible for controlling costs.

• Entrepreneurs and Small Business Owners: Those who are starting or running their own businesses and need to understand financial fundamentals
• Project Managers: Individuals who oversee projects and need to manage project budgets and financial reports
• Sales and Marketing Professionals: Those who need to understand financial metrics to align their strategies with business goals
• HR Professionals: HR staff who want to understand financial impacts on compensation, benefits, and departmental budgets
• Operations Managers: Individuals responsible for the day-to-day management of business operations and need to control costs and improve efficiency

Melveen Stevenson is the CEO and founder of M.S. Elemental, LLC, a human resources and business advisory firm. As a certified HR professional with a background in accounting and finance, she helps companies to navigate the human resources “jungle” of compliance, human capital, and leadership challenges. In doing so, she empowers companies to strengthen their infrastructure from the inside out, specifically through leadership development, operations, training, employee engagement, and executive coaching.

Melveen speaks on key topics to empower companies with the latest research and best practices for increasing engagement, enhancing leadership presence, and optimizing diverse workforce groups.

Over the last 20 years, Melveen has held leadership positions in human resources operations, supply chain, and talent management at international companies in food manufacturing, medical devices, and consumer products. She has spent most of her career in California, and has expertise in the state’s complicated employment regulations.

Melveen is certified through the Society of Human Resource Management (SHRM-SCP) and the Human Resources Certification Institute (SPHR).  She is also a faculty member at California State University-Dominguez Hills.