Managing financial resources and decisions Essay
MANAGING FINANCIAL RESOURCES AND DECISIONS
MONT ROSE COLLEGE
4 – Business Finance
1 - Managing Financial Resources and Decisions
Grigor Petrov Grigorov
1.1 Identify the sources of finance available to a business.
There are a number of sources that are available for the businessmen for ensuring that the profits of the business soar. It is important that the selection and choice is taken by critically analyzing the situation.
Bank Loan: This the most common type of financing that …show more content…
From: Grigor Grigorov, Student ID: MRC/20967/HND
To: Yannick Fansi
Subject: Managing Financial Resources and Decisions
2.2. Explain the importance of financial planning
Financial planning is the planning of the funds that the company will require in the future to meet the demands of the customer. It is important for the companies to ensure that the right steps are taken and that they help the activities of the company in a positive manner. This ensures that the company has enough funds to meet any unforeseen event in the future. Due to the nature of this activity, its importance is great and the significance of financial planning is important for the company. It helps in maintaining a proper balance between the outflow and the inflow of funds and avoids the hindrance in the growth and expansion of the company. This means that the aspect of financial planning is given proper importance in the business and that proper steps are taken so that the people work in the most efficient manner. With this, the businessmen and the managers