Financial Planning

Financial planning plays a vital role in the success of everyorganization and an organization does not exist without aproper financial planning. This is the next task of anorganization after setting their objectives and vision. A properfinancial planning determines if the set objectives are achievableor not. This is a not a small task but it involves different setof activities which include assessing of the business environment, identifying the resource required to achieve set goals, analyzingthe cost of resources, and finally identifying if any risk isassociated with the set budget and objectives.
Every financialplanning should have a proper planning horizon. This is thetime frame of the plan. Some financial plan can be short termwhile some are set for long time frame. It completely dependson the organization but without a proper financial planning acompany will never be able to achieve success.