BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A financial plan paints a comprehensive picture of your current finances, your financial goals and any strategies you’ve set to achieve those goals. Good financial planning should include details about your cash flow, savings, debt, investments, insurance and any other elements of your financial life.

Detailed explanation-2: -The four main types of financial planning are cash flow planning, tax planning, investment planning, and retirement planning. Each of these types of financial planning has different goals, concerns, and objectives.

Detailed explanation-3: -Short-term plans are usually of a year or less while long-term plans have tenures of more than one year. Both short-and long-term plans are inevitable for businesses. The businesses that make short-and long-term goals need to measure their performance by measuring the Key Performance Indicators (KPIs).