Last Updated Nov 5, 2009 1:06 PM EST
"A majority of U.S. managers surveyed by the Business Literacy Institute were unable to distinguish profit from cash, and many didn't know the difference between an income statement and a balance sheet."Admittedly, not all managers run P&L shops (That's "profit and loss" for you same folks identified in the paragraph above.) But still. Can you call yourself a manager without understanding the basic financial metric upon which your company's success is based?
This suggests, as does the related HBR article, that we need to do a much better job of training our employees in basic financial principles.
Take our poll. How would you describe your own financial literacy?