Technology Of Financial Planning

The financial plan includes a purely financial, technological and production parts. For commercial enterprises, which lack with the production process chain (associated with the transformation of materials into finished products), the overall planning scheme is somewhat simpler.

1. Sales plan. Financial planning should begin with the planning of sales. Sales plan should be prepared by a marketing (sales) office.
Sales plan consists of the revenue plan and shipment plan. Actually the sale is related with shipments of finished goods from the warehouse. Sales plan includes sales of goods in natural kind (average prices are assumed) and it shows how much, what and when products are shipped to the consumer.

2. Plan of production. The production plan is drawn up based on the sales plan in the light of the expected residues of finished products in stock. The cost of the finished product falls into the planned balance separately.

3. Procurement plan. In accordance with the plans for a production, office expects demand for raw materials, basic and auxiliary materials and components. Plan of use of materials is calculated by the standards of material consumption per unit of output with respect to time of use in the production process according to the technological scheme.

4. Plan of work. The plan of work should be formed in accordance with the rules of spent time on the qualifying groups of workers and their rates of payment.
5. Overhead. By the nature, overhead costs are accounted as a whole. For-profit enterprise must “cover” the value of the overhead difference between sales and costs of actual production and sales (margin profit). Hence, the overheads are planned by type of expenditure and units.

Budget of overhead costs should be divided into several fairly autonomous budgets:
Budget of business expenses directly related to the budget of sales;
Budget of overhead cost associated with production;
Administrative budget;
Budget of financing costs;
Budget for social spending.
The criterion for inclusion of an expenditure to a certain budget is in the grouping of expenditures by the relevant department (unit) that responsible for ensuring (realization) of this article.

6. Budget for capital investments. Unlike the other plans (budgets), budget for capital investment is not tied to ongoing activities and current income, and it is focused on future earnings. Typically, the process of capital construction is slower than the main activities in connection with which this budget is reviewed and adjusted less frequently than others.
Budget for capital investment affects on the increase of fixed assets and it requires payment in cash (or other) means.

7. Income. The plan shows how many revenues, when and in what form the company will receive for the sale of products. Plan of incomes in the current conditions is the most complex element.

8. Payments. From the procurement plan, from a plan for labor and overhead
plan we can form payables. Accounts of payable are fixed in terms of cash flow as payment. The value of payables is fixed in the planning balance.

9. Consolidated Plan. The planning results on a large scale are presented by financial service in a consolidated plan that includes balance, the plan for profits and losses and plan for cash flow.

Need help with financial planning – then we seriously recommend you to check out this web site with financial planning businesses advice and other useful information.

Plus, one more piece of advice – today the web technologies give you a really unique chance to choose what you need at the best terms which are available on the market. Funny, but most of the people don’t use this chance. In real practice it means that you must use all the tools of today to get the information that you need.

Search Google or other search engines for financial planning products. Visit social networks and have a look on the accounts that are relevant to your topic. Go to the niche forums and participate in the discussion. All this will help you to create a true vision of this market. Thus, giving you a real opportunity to make a wise and nicely balanced decision.

And also sign up to the RSS feed on this blog, because we will everything possible to keep updating this blog with new publications about the market of financial planning products and services.

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