Struggling to convey financial concepts to non-finance colleagues in Corporate Accounting discussions?
Bridging the gap between finance and non-finance professionals involves clear explanations and relatable analogies. To make financial concepts accessible:
- Use everyday language and avoid technical terms when possible, opting for simpler synonyms.
- Provide concrete examples that relate to common experiences or well-known scenarios.
- Utilize visual aids like charts or infographics to illustrate complex ideas in an understandable way.
Curious about how others break down financial barriers? Share your strategies.
Struggling to convey financial concepts to non-finance colleagues in Corporate Accounting discussions?
Bridging the gap between finance and non-finance professionals involves clear explanations and relatable analogies. To make financial concepts accessible:
- Use everyday language and avoid technical terms when possible, opting for simpler synonyms.
- Provide concrete examples that relate to common experiences or well-known scenarios.
- Utilize visual aids like charts or infographics to illustrate complex ideas in an understandable way.
Curious about how others break down financial barriers? Share your strategies.
-
Ein Beispiel was mir dazu einfällt und welches ich vor Kurzem in eine Keynote eingebunden habe, ist die Mamorkuchen-Metapher im Hinblick auf die erfolgreiche Zusammenarbeit von Accounting und Controlling: Heller Teig und dunkler Teig, die jeweils für sich auch einen guten Kuchen ergeben würden. Doch das besondere am Mamorkuchen ist, es gibt helle und dunkel Bereiche im Kuchen und einen vermischten Teil - also die Eigenständigkeit beider Bereiche und doch eine intensive abgestimmte Zusammenarbeit. Nach außen ist der Kuchen eine "perfekte Einheit", Details zur inhaltlichen Aufteilung werden es nach dem Anschneiden sichtbar.
-
What I personally find useful is using analogies from every day life. You can explain how market dynamics work (supply and demand) using the price of vegetables as an example.
-
Rosane Roverelli
General Manager na Advantech Brasil - Possibilitando um Planeta Inteligente
(edited)Para explicar conceitos financeiros a colegas sem experiência na área, é útil adotar uma abordagem prática e clara, como: Compare conceitos financeiros com situações familiares. Por exemplo, comparar o orçamento corporativo a um "orçamento familiar" pode ajudar a ilustrar a necessidade de controlar despesas e priorizar investimentos. Evite também jargões contábeis. Por exemplo, ao invés de “amortização de ativos,” explique como “distribuir o custo de um equipamento ao longo do tempo”!
-
Explaining finance to non-finance colleagues can be a real challenge! I’ve learned that the trick is to keep things simple and relatable. Instead of throwing around technical terms, I’ll say something like, 'Think of cash flow as the way money moves in and out of your wallet.' Little examples like that really help. Visuals make a big difference too, a quick chart or sketch can turn a confusing idea into something everyone can get. It’s less about the numbers and more about building a shared understanding, so everyone feels in on the conversation.
-
To explain financial concepts to non-finance colleagues, tailor explanations to their roles and needs by showing how the data impacts their work. Use relatable analogies, focusing on the "why" behind the numbers to link them to the company’s objectives. Keep it concise—avoid jargon and go for clear, direct points. Visual aids like charts and simple graphs help illustrate trends and make data more accessible. Finally, create a narrative to make financial information engaging and memorable
-
Transmettre des concepts financiers à des collègues non financiers peut être un défi, mais il existe des stratégies efficaces pour faciliter cette communication. En général, j’utilise un langage simple et clair en remplaçant les termes techniques par des mots simples et accessibles. Par exemple, au lieu de "cash flow", utilisez "flux de trésorerie" ou "argent entrant et sortant". J’essaye aussi d’illustrer mes propos avec des exemples concrets en comparant des concepts financiers à des situations de la vie quotidienne. Par exemple, expliquer le budget d'une entreprise comme celui d'un ménage aide à rendre l'idée plus tangible.
-
Simple everyday language is always key. Depending upon the industry the person is in, I love to explain accounting concepts to where they work or an everyday day concept. Make it more relatable to everyday scenarios. You never start a day without your toolbox, just as an accountant or bookkeeper never starts their day without there calculator for example.
-
Using their language to explain technical terms if it's possible. Drawing a simple flowchart to help to understand how the business operates and find the way to improve.
-
When explaining financial concepts to non-finance colleagues, keeping things simple is essential. We should focus on using everyday language and avoid technical terms. For example, instead of saying "liquidity ratio," we might say "cash we have versus what we owe." Visuals like charts and graphs help a lot, as they make numbers easier to understand. We also break down complex ideas into smaller parts and relate them to things they already know, like comparing budgets to personal spending. This approach makes financial discussions clearer and helps everyone stay on the same page.
-
Try to add non-accounting terms as far as possible, use layman’s terms only day-to-day languages as far as possible, real life examples I think that would be good enough for a non-accounting person to understand what they want. Be specific of what they want. You are not supposed to teach them accounting. You just need to explain him what they want to know. Don’t need to go too deep.
Rate this article
More relevant reading
-
Public RelationsHow can you build relationships with the media through financial communication?
-
Executive ManagementHow do you balance transparency and confidentiality when communicating financial results?
-
Corporate CommunicationsHow can you accurately represent your company's financial performance in a press release?
-
Engineering ManagementHow can you boost financial literacy and accountability in your engineering team?