Financial Planning and Control

Financial planning is the examination of the organizations utilizing the data they now have and creating a road map using this analysis in order to avoid a financial issue or surprise in the future. Three parts make up financial planning: estimating financial requirements, creating a budget to cover those requirements, and ultimately, financial control. Budget control tells us whether or not the company is run healthily by adhering to the set objectives. A comprehensive budgeting system is used for budgetary control, which helps management carry out its planning, coordination, and control responsibilities.

The purpose of this course is to provide an explanation of the budget and budgeting processes as a planning and control tool as well as practice profit planning and budgeting. Through the use of sample plans, the foundation and results of financial planning will be taught. Every topic relating to the budget will be discussed in detail once the necessity of the budget has been made clear. You will graduate from this course with a thorough understanding of budget studies on critical company topics including sales, production, purchasing, R&D, and marketing.