Question

1. Think of your future financing planning. For instances, how much cash flow will be required in the major events of your life i.e., in business (if you plan to start the business), car, house, marriage, children education etc. (consider inflation while assuming the cash flows). Minimum financial planning time should be 30 years.
2. Make plans that how you’re going to arrange the amount you will need in events discussed above. You need to be specific in plan like what will be income from the business or job and how much you will save from it to accumulate amount for future use. Use discounting and compounding processes by using the market rates for example if you are investing in the banking use the current bank deposit rate and if you are purchasing an insurance plan from EFU, State Life etc., incorporate the annuity and rate offered in that plan.
3. Also make after retirement plan, how much amount you will need and how plan to accumulate the amount.
4. you are advised to develop a comprehensive time line where you schedule all of the cash flows of personal financial planning.

Answer 1

Answer:

Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. ... The Financial Plan describes each of the activities, resources, equipment and materials that are needed to achieve these objectives, as well as the timeframes involved.

Answer 2

Explanation:

General ideas:

Common financial business objectives includes increasing revenue,increasing profit margins, retrenching in times of hardship and earning a return on investment.