What is financial planning ? Explain three points of importance of fin

1.	What is financial planning ? Explain three points of importance of financial planning for a business organisation.
Answer» Financial planning helps you determine your short and long-term financial goals and create a balanced plan to meet those goals. Importance of financial planning : • Financial planning provides policies and procedures for the sound administration of the finance function. • Financial planning results in preparation of plans for the future. Thus, new projects could be undertaken smoothly. • Financial planning ensures required funds from various sources for the smooth conduct of business.

What is financial planning ? Explain three points of importance of financial planning for a business organisation.

Answer»

Financial planning helps you determine your short and long-term financial goals and create a balanced plan to meet those goals.

Importance of financial planning :

• Financial planning provides policies and procedures for the sound administration of the finance function.

• Financial planning results in preparation of plans for the future. Thus, new projects could be undertaken smoothly.

• Financial planning ensures required funds from various sources for the smooth conduct of business.