It also helps the CEO to set financial targets for the organization and reward staff for meeting objectives within the budget.
Determine Your Current Financial Situation Develop Your Financial Goals Identify Alternative Courses of Action Evaluate Your Alternatives Create and Implement your Financial Action Plan Review and Revise Your Financial Plan Show 3 more... Article Summary Questions & Answers Related Articles This article was co-authored by our trained team of editors and researchers who validated it for accuracy and comprehensiveness.
Together, they cited information from 15 references.
Instead of looking at what’s already happened, you make projections for the coming months, forecasting income and outlays.
Your projections will act as an early warning system, helping you to plan for cash flow dips, identify financing needs and pinpoint the best timing for projects.