$2.50/min

Financial Planning

New Arrival
Created 11 years ago in Funding / Finance
Financial Planning

“If you fail to plan, you are planning to fail!” ― Benjamin Franklin
Don't fall in to the trap of running out of cash. Cash flow planning for any organization is critical. Understanding the timing, size and risk associated with incoming and outgoing cash flows can help you anticipate short falls in cash and help you identify your future working capital funding requirements. Understanding the cash cycle and how transactions flow through your financial statements (balance sheet, income statement, and cash flow statement) will help you build a solid plan.
Avoid optimism bias and use a third party to (1) Assess the business environment, (2) Confirm the business vision and objectives, (3) Identify the types of resources needed to achieve these objectives, (4) Quantify the amount of resource (labor, equipment, materials), (5) Calculate the total cost of each type of resource, (6) Summarize the costs to create a budget, (6) Identify any risks and issues with the budget set (7) Formalize a financial model that fits your business.

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