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Financial planning formulates the way financial goals are to be achieved. A financial plan is thus a statement of what is to be done in
Financial planning formulates the way financial goals are to be achieved. A financial plan is thus a statement of what is to be done in the future. Long range planning is a means of systematically thinking about the future and anticipating possible problems before they arrive. In addition, financial planning establishes guidelines for change and growth in a firm. Develop an explicit financial plan, management must establish certain elements of the firms financial policy. Identify and discuss four basic policy elements of financial planning.
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