...Personal Financial Planning “Personal financial planning is only applicable to those nearing retirement”. How true is this statement? For instance, personal financial planning is only suitable for those who are nearing retirement and not for other age groups of people. We do not really agree with that statement. Because people in different lifecycle are indeed requiring different kind of needs and wants in their life, thus, financial planning is important for everyone who wishes to achieve their financial goals. In addition, when there are existence of needs and wants in our life, everything would cost us money because money is the medium of exchange in this era. Due to this matter, meeting the rising cost of living and improving the standard of living would be a problem when we do not plan our financial side carefully. Everyone wants to have a luxury life, good car, delicious meal and many mores but without a proper planning, it is impossible for anyone to achieve these goals. Therefore, a personal financial planning is vital especially for those who started to join the work force and also those who are retiring. What is personal financial planning mean to you? Personal financial planning can be defined as a systematic process that considers important elements of an individual's financial affairs in order to fulfill the financial goals. Basically it also includes the well preparation of the cash flow movements, priority allocations on the needs and wants, and many more. ...
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...DECLARATION FORM This is to verify that I PRAGYA SAHU student Of SCHOOL OF ECONOMICS,DAVV INDORE has undergone training from “STOCK HOLDING CORPORATION OF INDIA LIMITED”. DURATION:- For 38 days (from 1st June to 8th July) in field of finance. During the training the student has abided by rules & regulation of our organization & his code of conduct were satisfactory. Detail of Reporting/ Authorized officer: Name of person: Sandeep Sharma Designation: General Manager Email Id : sandeep_sharma@stockholding.com Contact no.: 9425508941 Signature of reporting I hereby declare that this Project Report Entitled as Financial Planning submitted for the Project work is an original work done by Pragya sahu and it is submitted to Stock Holding Corporation of India Limited, Indore and will be submitted to SCHOOL OF ECONOMICS DAVV Indore. Except above not submitted to any University or Institute for the award of any Degree / Diploma / Certificate or published any time before. Date: ___21/08/2012_________ Place: __Indore__________ Pragya sahu ACKNOWLEDGEMENT “The completion of any project depends upon the Co-operation, coordination and combined efforts of several resources of knowledge, inspiration and energy”. My sincere thanks to Mr. Sandeep Sharma (Branch Manager) giving...
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...Strategic and Financial Planning University of Phoenix FIN / 370 September 9, 2009 Strategic and Financial Planning Every organization should have both a strategic plan and a financial plan. Although these two seem have two different purposes, they are both needed in order for the company to survive. Strategic planning is the process of determining a company’s long-term goals and then identifying the best approach for achieving those goals (Investor Words, 2009). Financial planning is the long-term process of wisely managing finances so you can achieve the goals while at the same time negotiating the financial barriers that inevitably arise in every stage of the company’s goals (FPA, 2009). Upon examining the relationship between strategic and financial planning, we will see how Quizno’s, Family Focus Lawndale and the LaSalle Network each utilize strategic and financial planning. Quizno’s Strategic Planning Initiative Quizno’s is a gourmet sub shop that sells different kinds of oven-toasted sandwiches. At Quizno’s, the store managers are always coming u with new plans and ideas to bring in new customers. Each store has a different type of promotion that is specifically targeted for the store location to drive in new business. The store managers have weekly meeting with the storeowner to talk about ways to increase productivity and reduce waste. The store managers also have monthly meeting with the store employees to see that everyone stays on...
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...Science Technology Company Financial Projections, 1985 – 1989 Criticisms 1. No benchmark. 2. The markets to be exploited are not specified. 3. The 30% annual growth rate projection is unrealistic. First, the average growth per year of STC, as shown by the table below, is only 12% — a far cry from the 30% annual growth rate projection. Second, the division managers or STC did not provide which product lines will produce the estimated increase. Growth Percentage (per year) |Year |Percentage | |1980 - 1981 |7% | |1981 – 1982 |11% | |1982 – 1983 |20% | |1983 – 1984 |10% | |Average growth = 12% | 4. The estimated net profit from $23 million to $61 million is unfeasible. First, the increase between $23 million...
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...ISLAMIC FINANCIAL PLANNING Introduction Islamic Financial Planning is a new concept being developed nowadays and it has a relationship with the definition of Islamic Financial Marketing which defined by Ibnu Abu Yusuf & Ibnu Taimiyyah and Ibnu Khaldun. They defined it as the creation, developing and delivery of unique customer satisfying competitive products and services at a profit to organization and customer in the lights of Islamic values and principles. In contrast, conventionally it is defined as the process whereby an individual's personal and financial goals are achieved through the development and implementation of a comprehensive financial plan. Islam is a comprehensive, integrative and holistic religion that governs all aspects of life, major and minor, personal and social, spiritual and materialistic and relates this worldly life to the Hereafter. This means that we need to practice Islam while we perform our business and economic activities. Muslims are encourage planning for their life and put efforts to achieve the goal setting then ask help from Allah. The final stage is tawakal for what the result and takes it as the destiny bestows by Allah. The prophet Muhammad used to supplicate Allah: ‘My Lord, help me and do not give help against me, grant me a victory, and do not grant victory over me, plan on my behalf and do not plan against me, guide me and made my right guidance easy for me, grant me victory over those who act wrongfully towards me….’[1] ...
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...FINANCIAL PLANNING AGREEMENT This Financial Planning Agreement (“Agreement”) is entered into by and between Alpha Global Investments, LLC (“The Adviser”) a registered investment adviser and (“Client”), whereby Client desires to receive financial planning services as outlined below. 1. SERVICES AND FEES The Adviser provides personal financial plans consistent with a client’s financial status, investment objectives and tax status. The Adviser will obtain the necessary financial data from the Client to prepare the financial plan. The financial plan may include information regarding retirement planning, education planning, planning for major purchases, life and disability insurance needs, longterm care needs, and estate planning issues. Client will receive a written financial plan from The Adviser. The financial plan will not include information or analysis with respect to liability risks or tax planning. Fees for the financial planning services referenced above are as stated below. Client may elect to pay the fee upon execution of this Agreement, upon delivery of the written financial plan, or a combination of upfront and arrears. Client may choose to periodically update his/her personal financial plan through The Adviser. Such updates may be conducted at the election of the Client and a new agreement disclosing the services and fees will be required between The Adviser and the Client. FEES: Hourly Fees are billed at $150 per hour and are paid in full at the completion of the Financial...
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...FINN4233, Financial Policy and Planning EXAM 2 TAKE-HOME QUESTION This question is due by 2:00PM on Friday , March 26, 2004. No late submissions will be considered for a grade! Students are not allowed to discuss the exam with their classmates, colleagues, friends, internet buddies, etc. prior to the submission!! The submitted answers must be your own work. Show all your work for partial credit. Important: As future financial economists, analysts, captains of industries, etc., you must be able to present your results in a clean, concise, and understandable manner. Therefore, it is your responsibility to make sure that I understand the way you interpret your work, logic, etc. Unreadable and/or unclear work will be awarded with zero points. All answers should by TYPED. Good luck! Prepare a (typed) report on valuation of Oxford Learning Centres (OLC) utilizing the data from the case “Oxford Learning Centres Inc.: The Childtime Alternative”. Address all of the following questions (attempt to structure your analysis to specifically answer each of the questions, one after another). (Since I want to make your life a little easier, note that the end of this document contains electronic copies of the most important case exhibits, as well as one extra Exhibit A (containing data on most recent acquisitions in the supplemental education industry): a) Is this a good time for Mr. Whitehead to sell a significant stake of OLC to Childtime? How did OLC perform in the recent...
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...------------------------------------------------- MAF707 Portfolio investments and Financial Planning ------------------------------------------------- Group Assignment Group 77: Weizhe Shi_900443906 Ran Li_210037023 Yichao FU_900387184 Contents Question 1 3 Analysis of securities and the market index 3 Summary 3 Question 2 7 Question 3 8 Question 4. 9 Standard Consumption of CAPM 9 Expectation errors relied on ex-post data 12 Reference List 14 Question 1 Analysis of securities and the market index Summary Firstly we calculated the monthly return of each securities which depend on the data of adjust close price every month. The formula is the latter month’s adjust close price minus the previous monthly adjust close price then divide the latter month’s adjust close price. On the basis of the results, we moved forward the steps that calculate the mean, median, skewnes, kurtosis, variance and correlation coefficients. Those data have been calculated and presented in excels. Definition and Formula 1. Mean The mean value is the average value of monthly return from Jun 2003 to Dec 2010. The formula is: μ=i=1NXiN where N is the number of the month we count of the return and Xi is the total value of the monthly return. 2. Median The median is the value of the middle item of a set of items that has been sorted into ascending or descending order. In an odd-numbered sample...
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...com/shop/ba-350-week-4-assignment-effects-of-financial-planning/ BA 350 WEEK 4 ASSIGNMENT EFFECTS OF FINANCIAL PLANNING BA 350 Week 4 Assignment Effects of Financial Planning Financial planning appears to be more complex and problematic but it seems to be easier than it really is. Everyone plans for the future to some extent. People plan for the long term such as career choices and also for short term such as what they are going to do today. Planning also applies to business environment and they are expressed in financial terms. Financial planning is comprised of distinct strategies and plans that an organization practices in order to get itself out of different financial problems and troubles. Planning is frequently used to determine ways to assist the balance sheet, create a profile of separate and different financial tools, and suppose financial conditions. The principle of financial planning is to design and produce a compliant plan which will be running situations and program simultaneously. This enables the business to still make money and deal with difficult situations if the business slows or an unexpected and unanticipated event occurs. Financial planning appears to be more complex and problematic but it seems to be easier than it really is. Everyone plans for the future to some extent. People plan for the long term such as career choices and also for short term such as what they are going to do today. Planning also applies to business environment and they are expressed in financial terms...
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...BA 350 WEEK 4 ASSIGNMENT EFFECTS OF FINANCIAL PLANNING A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=week-4-assignment-effects-of-financial-planning Visit Our website: http://hwsoloutions.com/ Product Description BA 350 Week 4 Assignment Effects of Financial Planning, Financial planning appears to be more complex and problematic but it seems to be easier than it really is. Everyone plans for the future to some extent. People plan for the long term such as career choices and also for short term such as what they are going to do today. Planning also applies to business environment and they are expressed in financial terms. Financial planning is comprised of distinct strategies and plans that an organization practices in order to get itself out of different financial problems and troubles. Planning is frequently used to determine ways to assist the balance sheet, create a profile of separate and different financial tools, and suppose financial conditions. The principle of financial planning is to design and produce a compliant plan which will be running situations and program simultaneously. This enables the business to still make money and deal with difficult situations if the business slows or an unexpected and unanticipated event occurs. Financial planning appears to be more complex and problematic but it seems to be easier than it really is. Everyone plans for the future to some extent. People plan for the long term such as career choices and...
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...Companies Operations The company is a national financial planning organisation who offers a full range of financial services to a wide variety of clients. Vision Statement “We provide financial planning services through a national network of Adviser Practices staffed by qualified financial planners. Our advisers are dedicated to helping you to secure your financial future and achieve your lifestyle choices. We develop a deep understanding of your needs and risk profile before delivering tailored solutions to your wealth creation problems. Our goal is to work together with you on your journey over your lifetime. As one of Australia’s most respected financial planning groups, our Financial delivers unique and appropriate solutions for the creation and management of wealth.” Due to the fact that the company has not published a Vision Statement, the above passage has been taken off the WB website to analyse as such. As can be seen it is directed toward clients rather than at employees of the company but still gives a broad directional indication to managers of where to direct their operations. Overall as a vision statement the above does not provide the motivation and future direction that a properly worded vision statement can and is meant to provide. The vision is forward-looking and directional in that it gives employees an idea of what services they are to provide. It also delivers feasible objectives for employees to work towards. However, as a vision...
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...Financial Planning The NHL Winter Classic is a hockey game played by two teams in the NHL. It is hosted either on, or close to New Years Day. The Classic has been around since 2008. Ever since the NHL started this annual game, it has been held outdoors. In past years, the event has been held at famous venues, such as Fenway Park, Wrigley Field, and Citizens Bank Park. The Winter Classic is a very unique event, because the NHL actually builds a temporary ice rink on the respective fields each year. It is an incredible undertaking financially, so the NHL has be extremely good at financial planning to take on an event of this size and nature. Because the Winter Classic is an annual event, and has been going on for a few years, the NHL already has a relatively good idea of the kind of financial responsibility it takes to implement this event. It could be argued that they should begin to plan this event at least a year in advance. For the first half of the 2012-13 season, the NHL players association was in a lockout, so no games were played. The staff tasked with planning the 2013 Winter Classic had a pretty good idea that the event would not be held, but they still had to plan as if it was happening. This shows that it is important to start planning as early as possible, in case of any bumps in the road. When planning an event, possibly the most important thing to plan on is the financial aspect. Usually, the financial report after the event is the best way to...
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...Sample Essay on Financial Planning It is vitally important for the individual to set up a personal financial plan in order not to experience hardships and financial difficulties in the future. Financial plan assure financial stability and financial freedom that one wants to possess till the end of his/her life. The following essay will speak about the role of the financial planning for the retirement years and will state that people without financial plans face substantial pain/suffering/unhappiness in their retirement years. The process of developing a sound financial plan is a routine process that indeed involves not only careful financial analysis of the person’s current situation and long-term commitment to implement and monitor that plan throughout his/her life, but also requires careful thinking for the future. In order to properly achieve the financial planning goals, one has to monitor the performance of the financial plan as well as make proper changes when necessary. Thus, in order for the plan to remain of use for the person and not a fortune for financial advisors, one has to make it user-friendly and elaborate. For example an article How to manage your money, noted that one is not able to compete well without the resources and thus has to read a lot about the market (Macklem, Katherine, 2004). One should weigh all the pros and cons of mutual funds namely, criteria for selecting stocks, the fund managers, and track record. Katherine Maclem (2004) states...
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...Financial Planning Lacardo Scott Grantham University Financial Planning Financial planning is defined as planning or the future of your company to make sure you have positve cash income in upcoming years. Financial planning is very important when it comes to planning a business because if not done properly, your business is sure to fail. Financial planning is a process to help you make smart decisions about money that you business makes so your company can reach its goals. Smart financial planning determines the course of action the company will take, the tasks that need to be accomplished, as well as who is responsible for completing the tasks in the proper time and manner. The success of any business is based on financial planning. Financial planning includes three categories: Strategic role of financial management, objectives of financial management and the planning cycle. When thinking of a financial plan, the company should come up with what is called a planning horizon, which is the time period of the plan. A business’s main goal while financial planning is to make sure they have accurate cash management. By correctly guessing how much cash they are going to bring in and have available, leaves room for the company to invest and receive a higher return on their investments. Accurate cash management also allows a company to foresee any type of cash shortage that could likely come about anytime during the year. When a company is able to make these types...
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...Financial Planning BA101 Kimberly Bernard What is financial planning for a business why is it important, and what can happen if not done accurately. Financial planning is simply planning for the future of a business to ensure there will be positive cash flow in the years to come. Financial management is essential because it will either make or break a business or company, if you start a business without putting a plan in affect and just start spending or making decisions this can be costly. Having a plan in place will help you set and achieve financial goals. A business’s priority when creating a financial plan should be accurate cash management. Accurate cash management will also help the business see if there could be the potential for a cash shortage during any particular time of the year. This is a crucial part of the plan, let’s just say a business is having an employee outing or event and they don’t have a financial plan in place, what will happened? The business can put them into debt or not have enough cash flow to fund the event, this would be an embarrassment for the business or they would have to find other means to funding the event like having the employees pay a percentage of the event. This would tell the employees one thing, that the company doesn’t have enough cash to even offer an employee outing or an event without the help of the workers, I know I wouldn’t want to work for a company that would ask for help for an event that they are planning. Another important...
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