The Language of Business Adminstration: Finance 101

June 9th, 2011 by Trey

Businesspeople need to verse themselves in the “language of business.” This language is defined as the languages of finance and accounting. Only those who actually pursue a business degree for business administration or go to a business administration school are ever officially taught this language, but any business owner who wishes to be successful must be well versed in this way of speaking, as it is the universal way that businesspeople speak to each other.

Basically, if you are going to own a business, you must speak like you have a business degree. The basic form of this language of business administration is the balance sheet. Business owners must, in order to obtain resources from others, prepare their balance sheet. Listed on the balance sheet are assets, or things owned; and liabilities, or things owed. Net worth, or equity, is assets minus liabilities. A balance sheet is named as such because both sides must remain in balance with each other for the balance sheet to be valid.

The speaker then goes over some of the basic terms that one would learn in a business administration school and why businesspeople must use these terms instead of their possibly simpler synonyms. The speaker then shows a sample balance sheet with assets and liabilities and some of the sub headings under each of these major headings.

What Business Administrators and Managers Can Learn

All of this information is used by business professionals to communicate about their business. You can start learning this langauge by getting your degree in business administration and management. Start your college search at US College Search or find us on Facebook and Twitter as well. To learn how to get a degree in Business Administration and Management or Business go to US College Search. Then you can Search For Colleges By State or go to the Business Administration and Management hub under Search By Degree.

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