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The corporate financial planning is long term projection of income and expenses (through yearly budgeting process) and to see what is the merit i.e. where we stand in terms of Net Present Value (NPV or Internal Rate of Return(IRR) taking the risk factors in consideration. If NPV turns out to be positive or Internal Rate of return is higher than cost of capital, we take up the plan otherwise we would search for alternative solution.
The best financial planning is remaining to
Take control of your finances.
Learn how to invest in this strange new economy.
Protect your wealth during these uncertain economic times.
Generate additional income
But the financial planning process is a logical, six-step procedure:
Determining your current financial situation
Developing financial goals
Identifying alternative courses of action
Evaluating alternatives
Creating and implementing a financial action plan, and
Re-evaluating and revising the plan
Top managers control their organizations by establishing certain performance standards. These performance standards are often just more-clearly defined objectives. For example, the president of a company may want to increase market share and profits by five and 10 percent, respectively, in the new fiscal year. He may also want his marketing vice president to introduce 10 new products within the year. Top managers usually hold various managers accountable for accomplishing goals and results through their specific job descriptions. A job description is a summary of an employee's primary job responsibilities. These job descriptions must be clearly defined by both executives and human resources when direct reports are hired by top management
I agree with Mr. Fazl and Mr. Vinod Jetley answer
Thanks
Agree with answer given by Mr. Fazlur
I agree with Fazlur answer, however in my opinion this question should be more classified, you see different business uses different approach, and thus it you can't relay on one approach to be the standard best, it varies depends on what kind of business, business policy, and other aspects, there can be different way to answer this, however, best approach should goes into improving the success of the company.
I agree with Mr. Fazl answer and vote for him.
Thank You Mr. Rami for the invitation .. I would agree with the answers that have really covered your question .. Variety of opinions and correct info...
Net present value - Return on Investment - Internal rate of Return .. are all helpful financial functions that help in making your financial decisions.
Financial management using profit and loss and return on investment could be a helpful method in managing that !
agree with expert answers above
It is best to consider all operational units as a separate entity. The outcomes of all projects being operated by single operational units shall be summarized and considered as one project. Based on this working, decisions shall be taken regarding financing, amending, closing or other actions for the operational units keeping in view the organizational strategy.
The purpose of Financial Planning Techniques is to educate and help you become financially knowledgeable on a wide array of important topics. There are excellent tools, techniques and resources to help you learn, grow and expand your financial IQ.
The economic world has drastically changed in the past several years and is changing at an accelerating rate. Investing and income prospects are becoming more difficult and confusing all the time.
But with change, comes opportunities!
You have to sift thought the massive amounts of information, misinformation and resources to mine for the golden nuggets that will help you make intelligent financial decisions.
You have to strip through the myths, mystiques and exposes of the charlatans of investing and replaces them with logic and common sense.
In other words, the goal is to encourage you to be proactive with your finances.
Choosing to improve your financial skills increases your confidence in addressing every day and long term monetary challenges. This increase in confidence is the key that unlocks a life with rich rewards and more control of the outcomes.
Make no mistake about it, this job isn't easy! And, everyone will not succeed. However, being a prepared student provides you with a dramatic advantage over those who are unprepared.
I am apologies to answer this question because it's not my specialist
