Asked by Abigail Orozco on Apr 25, 2024
A good financial plan also includes financial control,a process of comparing actual revenues,costs,and expenses with forecasts.
Financial Control
The management of a firm's costs and expenses in order to ensure efficiency, accountability, and profitability.
Forecasts
Forecasts are predictions or estimates of future events or trends, based on analysis of existing data and modeling.
Financial Plan
A comprehensive evaluation of an individual's or organization's current and future financial state by using known variables to predict future cash flows, asset values, and withdrawal plans.
- Recognize the importance of financial planning, control, and the forecasting process in corporate finance.
Learning Objectives
- Recognize the importance of financial planning, control, and the forecasting process in corporate finance.