D) an appropriate control and management
system is established;
E) procedures for making changes to the plan will be developed.
From the point of view of practice, several following options of the financial plan are
recommended:
optimistic, high-probability plans, pessimistic.
In general, the financial plan includes the following documents:
1. Investment policy: financing policy of fixed assets, financing policy of intangible assets,
policy regarding long-term investments.
2. Working capital management: cash and cash equivalents management,
inventory
management, counterparty policy and receivables management.
3. Dividend policy and structure of sources of financial resources.
4. Financial forecasting: description of financial conditions, income and expenses of
enterprises, forecasts of financial statements, cash budget, total capital needs, external financing
needs.
5. Account policy.
6. Financial control systems.
Sections of the financial
plan
1. Investment policy
Financing of fixed assets
Financing of NMAs
Long-term financial investments
2. Circulationasset
management
Cash and Equivalents I/C
Reserves Funding Accounts
Receivable Management
3. Dividend
policy and resources
structure
4. Financial projections
Description of Financial
Conditions Enterprise
Revenue Enterprise Expenses
Financial Statements Forecast
Cash Budget
Total Capital Requirement
Student for External Financing
5. Account policy
6. Management control system
It is known that the financial plan is sufficiently complex and comprehensively covers all
the factors of the description of financial production that affect the
investment activity of the
enterprise. Forecasting plays an important role in financial planning. The financial manager needs
to forecast the volume of sales, the sources of financing the cost of the product, and the amount of
cash flows. 2 main methods of forecasting are currently effective. They are: expert assessment
method, situational analysis and forecasting methods.
