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Financial Planning

Financial planning is intended to establish a long term vision of changing or growing a business. Financial difficulties are often the result of a lack of financial planning. The consequences can go up to the bankruptcy of the company concerned.

Financial planning should be developed long before being adopted, given the lengthy procedures. More planning will be concrete and explicit, more results will be positive. For example, if a company plans to expand its market abroad, it must include one year in advance, depending on scope of project action plan and funding.

The main roles of financial planning will determine how the company will pay, compare multiple scenarios, to avoid unpleasant surprises as possible events as well as analyze the consistency of objectives.

Various financial planning models exist. However, in most cases, the variables used to return same. The sales forecast, forecasting financial statements, the prediction of the assets and liabilities and a description of the economic environment will be key elements desired in financial planning.