Exam_1_study_guide - Exam 1 Suggested Study Concepts (be...

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Exam 1 Suggested Study Concepts (be sure to bring your calculator) SMART (specific, measurable, achievable, realistic and trackable) goals Financial Life Cycle – what is the concept and how is used for planning? Purpose of financial planning – Why should everyone do it? Need a financial plan because it’s easier to spend than to save. Want a financial plan since it helps you achieve financial goals. Use financial planning, not to make more money, but to achieve goals. Control your finances or they will control you. What are common concerns in all financial plans? Some people are uncomfortable discussing financial matters, the “fear of finance.” Motivation and time is required to complete an accurate plan. Good record keeping is necessary both before and during the planning period. 15 Principles – Concepts not the number or exact title Case - Be able to calculate a Balance Sheet Be able to calculate Ratios – Debt
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This test prep was uploaded on 04/09/2008 for the course AAEC 2104 taught by Professor Rhlytton during the Fall '06 term at Virginia Tech.

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