Asked by Christian Poncio on May 02, 2024
Verified
The first in preparing a financial plan is a forecast of sales or revenue over some future time period.
Financial Plan
A comprehensive evaluation of an individual's or organization's current pay and future financial state by using current known variables to predict future income, asset values, and withdrawal plans.
Forecast of Sales
An estimate of the future sales volume over a specific period, based on historical data, market analysis, and other factors.
Revenue
The income generated from normal business operations and includes discounts and deductions for returned merchandise.
- Acknowledge the significance of financial planning, oversight, and prediction methods within corporate finance.
Verified Answer
LW
Logan WenrickMay 07, 2024
Final Answer :
True
Explanation :
The first step in preparing a financial plan often involves forecasting sales or revenue, as these projections are crucial for determining budgets, expenses, and other financial strategies for the future time period.
Learning Objectives
- Acknowledge the significance of financial planning, oversight, and prediction methods within corporate finance.