BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A financial plan can be used to attract investors. A financial plan explains how a business will manage its records. A cash budget is a plan for the amount expected to be spent and earned over a given period of time. An audit is a collection, recording, and reporting of financial transactions.

Detailed explanation-2: -A written financial plan increases confidence Having a written financial plan gives you a measurable goal to work toward. Because you can track your progress, you can reduce doubt or uncertainty about your decisions and make adjustments to help overcome obstacles that could derail you.

Detailed explanation-3: -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-4: -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.