in17 - Budgeting and Cash Flow Management Objectives...

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Budgeting and Cash Flow Management
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Objectives Describe the relationship between financial planning and budgeting. Understand how to set and achieve long-and short- term financial goals. Establish the structural and mechanical aspects appropriate for your personal budget. Create and implement a budget, cash flow statement, and balance sheet.
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Budgeting and Cash-Flow Management IF YOU FAIL TO PLAN, YOU PLAN TO FAIL! To succeed in money matters requires implementation of financial plans.
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Financial Planning and Budgeting Financial planning Budgeting Values Goals
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Components of Money Management 1. Personal Financial Records 2. Personal Financial Statements 3. Budget (Spending Plan)
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Comparison of Statements PAST Income and Expense Statement (Cash Flow Statement) PRESENT Balance Sheet FUTURE Budget
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Six Phases of Budgeting Set Goals Organize Decide Implement Control Evaluate Achieve success in financial goals Monitor, review, revise after each period.
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Setting long-term goals—anything more than 12
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This note was uploaded on 02/11/2011 for the course FIN 3403 taught by Professor Tapley during the Spring '06 term at University of Florida.

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in17 - Budgeting and Cash Flow Management Objectives...

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