Financial Reporting: 15 Key Terms to Get You Started

THEME: Collective Bargaining and Workers’ Rights in the Workplace

TITLE: Financial Reporting: 15 Key Terms to Get You Started

PUBLISHED BY: Labour Research Service (LRS), South Africa

WHO IS THIS FOR? This guide will be useful for those working in labour-related NGOs, including labour research organisations, as well as trade union leaders, members and negotiators.

Expanding practical knowledge of the financial terms corporate companies use enables one to read annual reports and corporate documents. There are some basic financial terms that every union member should know when they start to deal with a company and its management. These terms could be used in meetings or during bargaining, and one’s ability to understand these terms will affect one’s negotiating power.

Unions and shop stewards will come across these terms specifically when bargaining for employee wages. Information relating to company revenue, profits and directors’ remuneration can assist negotiators in securing employee wage demands.

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Financial Reporting: 15 Key Terms to Get You Started