Students helping students, join us in improving Bored of Studies by donating and supporting future students!
That's the order in which the syllabus is written. I don't think the financial planning cycle is in that exact order.Not really
1) Determining current financial position
2) Determining Financial Elements of the business plan
3) Developing Budgets
4) Cash Flows
5) Financial Statements
6) Interpretation of financcial statements
7) Maintaining records systems
8)Planning financial controls
9) Minimising risks
Could anybody give me an outline of each of the Management Roles?
Eg
Interpersonal=Liason, figurehead, leaders
Informational=disseminator,monitor, spokesperson
Decisional etc etc
as in what each of them specifically entail...or we dont need to know that?
I like this one, thanks heaps. =]A Dirty Dark Chicken From India Makes Poor Meat <-- Used this for about 6 months now xD
Lolol yeah that's pretty sick, but because of that it'll stick with me I guess.ADD Children Fucking Irrate My Pedofile Mind.
hahaha pretty sick actaully . if you need any more just ask i got them for everything![]()
This planning cycle is undertaken BEFORE business does any of its operation, right?The syllabus quotes it in that order, but it doesn't really matter as long as the concept is understood.
Essentially all that matters is that the current position is known and the business plan is referred to first, and then development of budgets/cash flow sheets/other financial statements are created. Data then needs to be analysed and interpreted, and then maintaining record systems/planning financial controls/minimising financial risks as losses falls under a tweaking and controlling aspect of the planning cycle.
Though to be fair, quoting it clearly as written in the syllabus is the way to go; you want markers to be able to quickly see that you understand what the question is asking you about.