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What is meant by a financial plan?
Step by step
Solved in 2 steps
- Why is it important to consider an entrepreneur’s personal finances when conducting the firm's short-and long-term financial forecast?1. WHY IS FINANCIAL PLANNING IMPORTANT IN THE SUCCESS OF AN ORGANIZATION? 2. HOW IS CONTROLLING RELATED TO PLANNING? 3. ENUMERATE THE DIFFERENT STEPS IN BUSINESS FINANCIAL PLANNING AND DISCUSS IT BRIEFLY..Why is estimating operation and implementation costs in budgeting important?
- How the firm’s financial health can be obtained?At what points in the planning process would you expect accounting/ finance, marketing, information systems, and operations to play a role? What inputs should these areas provide, and why?What is the role of the management accountant regarding nonfinancial performance measures such asdelivery speed and customer satisfaction?