Tax Account Pro / Financial Planning
Planning is essentially the process wherein you decide how you’ll be able to achieve your goal and work accordingly to achieve the same. Financial planning is the same, only it involves your money, and goals are rather more personal. Financial planning isn’t a one-time thing – it’s a dynamic process. It is modified over the years to entwine the changing financial need and reducing the timeline of the goals. It encompasses a 360-degree view of your financial life.
Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan immediately after the vision and objectives have been set. The Financial Plan describes each of the activities, resources, equipment, and materials that are needed to achieve these objectives, as well as the timeframes involved.
Financial Planning activity involves the following tasks:
Assess the business environment
Confirm the business vision and objectives
Identify the types of resources needed to achieve these objectives
Quantify the amount of resource (labor, equipment, materials)
Calculate the total cost of each type of resource
Summarize the costs to create a budget
Identify any risks and issues with the budget set.
Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise. ...
Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. ...