Financial planning plan: Introduction. Financial planning and its essence

 
6) Review, Re-evaluate and Monitor the Plan. 
Financial planning is an on-going 
and dynamic process and it’s unlikely that your financial condition will remain 
the 
same throughout your life. You need to assess your financial decisions periodically 
as changed personal, economic
,
and social factors will require you to alter your 
decisions to fit into your new situation.
 
ANALYSIS 
Economic analysis
- among the most common and most important. contractors, 
creditors, customers - this car allows the characteristics of production processes 
with external players, as well as the company's mutual locations. An economic 
analysis company has reserves and reveals what might be sufficient. This is a 
relevant tool, because of its complexity, the presence of a few additional 
components, it can be noted that it has been recognized by many researchers as a 
method of independent financial planning.
 
 
 
 

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11
What are Financial Controls?
Financial controls
are the procedures, policies, and means by which an monitors 
organizations and controls the direction, allocation, and usage of its financial 
resources. Financial controls are at the very core of resource management and 
operational efficiency in any organization. 
Required Processes. 
The implementation of effective financial control policies 
should be done after a thorough analysis of the existing policies and future outlook 
of a company. In addition, it is important to ensure the following four processes are 
completed before implementing financial control in a business: 
1. Detecting overlaps and anomalies. 
Financial budgets, profit and loss 
statements, financial reports, balance sheets, present the overall performance or 
operational picture of a business. Hence, while formulating financial control 
policies, it is very important to detect any overlaps and/or anomalies arising out of 
the data available. It helps in detecting any existing loopholes in the current 
management framework and eliminating them.