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 enterprise financial planning?
Financial planning, also known as connected enterprise planning, allows businesses to model strategic direction and take actions to optimize financial and business performance. This approach is forward looking and used to help finance guide the business to achieve its strategy.
What is the most important part of financial plan in entrepreneurship?
The most important initial element in financial planning is Budgeting. Setting a budget is relatively easy; it is more difficult to stick to it! However, having the discipline to take the time and care to record and reconcile your expenditure in some way is what counts.
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