Earning credentials in finance signifies a variety of competencies including aligning accounting to the business cycle, merchandizing, internal controls, managing assets and liabilities including payroll, job costing, budgets, cost/volume/profit analysis, cost allocation, analysis of capital expenditure decisions, and support for managerial decision-making. Accountants work in all types of businesses – retail/merchandizing, manufacturing, finance, non-profit – and work across all facets of the organization. The successful accountant produces reliable reports and is a good listener who can understand the needs of department or organization and produce reports to facilitate decision-making. Accountants must be exceptional at processing and organizing information. Specifically, this badge demonstrates the earner's ability to explain the purpose and elements of an income statement, explain the purpose and elements of a balance sheet, describe the importance of cash flow, how companies are financed, and the purpose of the cash flows statement, define the purpose and power of GAAP, FASB, and IFRS, and explain the terms associated with income taxes, including taxable income, capital gains, computable taxable income, and types of tax rates.
