Research, identify, and discuss what financial planning for a business is, why it is important, and what can happen if not done accurately.
The requirements below must be met for my essay
Write between 500 - 750 words (approximately 2 - 3 pages) using Microsoft Word.
Attempt APA style, see example below.
Use font size 12 and 1" margins.
Include cover page and reference page.
At least 60% of your paper must be original content/writing.
No more than 40% of your content/information may come from references.
Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.
In compliance with BrainMass rules, this is not a hand in ready assignment but is only guidance.
Financial planning is the evaluation of the businesses current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal of cash. Financial planning means how the business will finance its strategic goals and objectives. The financial plan lists all the activities, resources, equipment and materials that are required to achieve the objectives of the business. Financial planning also sets the timeline for financing the activities, resource, equipment, and materials.
Financial planning is important for a business because it is a forward looking activity. It directly supports the business vision and objectives. For example, if a business has the objective of earning 20% profit on its investment, financial planning describes the activities, resources, and equipment required to achieve the objective of the business (Dougherty, J., & Gray, C. 2013). Financial planning systematically scans and evaluates the business environment. It assesses the economic, political, ...
The answer to this problem explains financial planning in a business. The references related to the answer are also included.