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Forecasting Financial Needs in Action Forecasting is an important part of any firm's financial plan. Financial managers create forecasts by preparing budgets, and these budgets
Forecasting Financial Needs in Action
Forecasting is an important part of any firm's financial plan. Financial managers create forecasts by preparing budgets, and these budgets are then analyzed in order to determine ifwhen a firm will need to secure internal and external financing.
Instructions: Match each example with the corresponding step in the financial planning process.
Reconcile and Moderate
Consolidate
How to Obtain
Cash
Planned Expenditures
Match each of the options above to the items below.
Forecast the firms shortterm and longterm financial needs.
No answer
Develop a financial plan.
No answer
Create the capital and cash budget.
No answer
Create the operatingmaster budget.
No answer
Establish financial controls to see whether the firm is achieving its goals.
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