Financial planning is a vital part of financial management. It is the procedure of defining the policies, objectives, programmers, procedures, and budgets to deal with the financial actions of the organization.
Financial planning reveals the requirements of the business and is united with the complete business planning. Proper financial planning is essential to allow the organization to have the right volume of capital to endure its processes efficiently.
Financial planning includes taking some significant decision so that funds are always available to the organization and are used effectively. These decisions highlight the purpose of financial planning.
The main objectives of financial planning are as below:
The significant benefits of financial planning to an organization are defined below:
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