Module 1 - DB#1

What is the one critical aspect of a Financial Plan?
What are the key components of a Financial Plan?
What financial statements are typically included in a Financial Plan?
How many years out should a Financial Plan be and how often to update it?

What is the one critical aspect of a Financial Plan?
•  Must be measurable
What are the key components of a Financial Plan?
•  Measurable and realizable
What financial statements are typically included in a Financial Plan?
•  Income statement, Balance sheet, Cash Flow statement
How many years out should a Financial Plan be and how often to update it?
•  3 to 5 years and should be updated annually

How do you know if it is realizable?

I think it will be interesting to see if the typical 5-year plan will disappear and we will start to focus on 1-3 years saying that 3 years with this uncertain times is about as far out as we can go.

I think with a financial plan it needs to be realistic and in line with their strategic plan which also needs to be realistic so that they can reach the goals they have set.
I agree! I think with all of the uncertainties that the pandemic has brought about I think people will most likely want to stay closer to the 3 years out.

KPI's are critical in assessing a company's financial well being within the industry.