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What is financial planning discuss its importance for an enterprise


A financial plan is the most important thing a small business needs. It's a road map, a guideline, a reminder of what your goals are–what you are trying to achieve in the short-term and the long-term. It lays out what your possible costs are, and it seeks out to address avenues for how to manage these costs.

What is financial planning discuss its importance for an enterprise class 12?

The objective of financial planning is to ensure that enough funds are available at right time. (i) Helps in avoiding business shocks and surprises Proper provision regarding shortage or surplus of funds is made by anticipating future receipts and payments. Hence, it helps in avoiding business shocks and surprises.

What is financial plan discuss the importance of financial planning?

Financial planning is a step-by-step approach to estimating the required capital and determining how to acquire the same. Simply put, it helps you keep track of your income, expenses, and investments so that you can manage your finances better.

What is financial plan in entrepreneurship?

A financial plan consists of five budgets that detail the minimum requirements for starting your business, the investments you will need to make and how you plan to finance them. This allows you to determine whether your business idea is viable.

What financial planning means?

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.




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