Question:
State any three points of importance of Financial Planning.
State any three points of importance of Financial Planning.
Updated On: Feb 26, 2025
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Importance of Financial Planning:
1. Ensures Optimal Utilization of Resources: Financial planning helps to allocate resources efficiently, ensuring that funds are used optimally across the business operations.
2. Provides a Framework for Decision Making: It provides a systematic approach to planning for future financial needs, making it easier for managers to make informed decisions.
3. Helps in Managing Risks: Financial planning helps anticipate potential financial challenges and take proactive measures to mitigate risks, ensuring smooth operations even in uncertain situations
1. Ensures Optimal Utilization of Resources: Financial planning helps to allocate resources efficiently, ensuring that funds are used optimally across the business operations.
2. Provides a Framework for Decision Making: It provides a systematic approach to planning for future financial needs, making it easier for managers to make informed decisions.
3. Helps in Managing Risks: Financial planning helps anticipate potential financial challenges and take proactive measures to mitigate risks, ensuring smooth operations even in uncertain situations
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