Research On The Importance Of Financial Planning Finance Essay

Research On The Importance Of Financial Planning Finance Essay The financial plan is an important part of both the business plan and of the entrepreneurs day-to-day management of operations. The financial planning puts the entrepreneur in touch with the realities of a financing request. This understanding will help clearly identify the amount of financing needed, the purpose for the funds, the length of time the funds are needed, and how the financing will be repaid. These issues are of key concern to the prospective financier Financial Plan The various operating plans prepared by the entrepreneur indicate where the firm is expected to go and how it will get there. The financial plan estimates and plans for the financial needed to implement these intentions. It, along with the market analysis and marketing plan, is the most critical component of the business plan. (Arthur and Stephanie, 1995) Some entrepreneurs might think of the financial plan as being strictly about the numbers, it is much more than that by providing a basis for making many decisions about the business. Decision such as how many employees to hire, what suppliers will be used, and what equipment will be purchased will be largely made while completing the financial plan. As is true with marketing and operations, one plan has to be streamlined with the other. The financial plan needs to reflect the marketing activities and the level of production that were outlined previously in the plan. (Arthur and Stephanie, 1995) Good financial planning helps a company maximize cash flow with pinpointed resource allocation and investment strategies. On the other hand, that means money can become tied up in long-term investments and investment strategies And if a companys strategic plan or financial plan ends up being woefully wrong, it may not have the money it needs to immediately rectify a problem. (Brian Boone, 2004) Its much harder to convince shareholders and stakeholders of a company how to properly execute the companys finances; its easier to get everyone behind a strategy, because its goal-oriented, not cash-oriented. But the two can be integrated. (Arthur and Stephanie, 1995) Financial plan calculation statements (shown in Appendixes) Business Plan A business plan is a document that is used to guide the new entity created by an acquisition or joint venture project. Business plans vary by project and are shaped by many considerations, but the basis of business plan is the development of the mission, goals, and objectives of the new entity consistent with the strategy, goals, and objectives of the acquiring or the parent company. The business plan includes a fairly detailed financial plan describing the timing and quantities of key financial variables with respect to revenues, expenses, capital outlays, and cash flows. However, providing performance targets and monitoring operational performance, linking management objectives and performance with operational performance, and describing a feedback and control mechanism to assess the new entity performance versus expectations and targets are value-added characteristics. The business plan is an important communication tool for delivering a consistent message concerning acquiring or parent firm expectations, goals and objectives, priorities, and operational targets of the new entity. Another useful function the business plan performs is to lay out requirements and issues that need to be addressed, coordinated, or resolved. Finally, as the environment and operating conditions change, the business plan provides the structure to evaluate the impact of changes on strengths and weaknesses of new entity. (John, 1999) A good business plan for a sound business concept can helps to achieve in business goals. It can saves the companys money and time by focusing on the business activities, and giving more control over the finances, marketing, and daily operating and helps to raise the capital of the company. (Rhonda, 2003) Bank loan Borrowed money is often the key to building and growing a successful small business. For independent business owners, however, courting lenders isnt always easy. Heres how to make a strong case and win over even the choosiest banks. By Matt Alderton. Small business owners can choose bank loan when they need to borrow money. But, if the owner having a bad credit record can be a big hindrance in terms of asking financial assistance in the future and this is a fact everyone should remember in making future loans. Messing up with the financial liabilities can land in with a bad credit record. It would be difficult to borrow money with bad record. Financial institutions like banks and even small lending organizations are strict with customers wanting to borrow money with bad record since it might be a bad investment for them. People in dire need of financial assistance with a bad credit record can just put them in the brink of bankruptcy. 5.0 Question 3.1 The companys projected sales are exceed the company objectives and the company accountant decides to advise the Board of Director later, therefore the companys financial plan may be ineffective because of the delaying release the information to the Board of Director. As there the demand is higher as the companys objective, the delaying to inform the Board of Director about the exceed sales, the director will unable to borrow loan from the bank because of the qualification may be failed. Mostly, bank wouldnt borrow loan to high-risk borrower due to the poor credit profile of the borrower, the bank would worried that the borrower might not affordable to payback for the loan if the company is almost facing a huge run out of funds. The financial plan will be ineffective and confused all the operating system of the production. Therefore, the company would face the problems like insufficient production resource and raw materials to produce goods to the customers, and the lack of fund to make payments like insufficiency to pay salary to workers or any other operating expenses. It will also cause the lack of confidential from the customer because of the lack of production material in the company. The poor financial planning might caused the company get into debts as well and it will lead to bankruptcy that failed of business. (1078 words)

The Spanish Revolution :: essays research papers

Ever since the fall of 1930 when the Spanish Revolution began there has been no surcease of the struggle in Spain. For a long time there was a deadlock of forces, an equilibrium in the tug of war between the property holders and the destitute. Now the equilibrium is being definitely broken. The issue before Spain is either Communism or Fascism. The matter is being fought out not with ballots but with bullets and ruthless civil war. Slowly the political revolution is being definitively turned into a social revolution. From the very beginning, the mass of workers of Spain, both in the city and in the country were the decisive elements. When the students rioted before the universities in 1930 it was only when the workers joined them with a vast general strike that the regime of the military dictator, Primo de Rivera, fell and the temporary regime of General Berenguer set up. When General Berenguer tried to hold fake elections without extending the franchise to all, it was another general strike that overthrew the regime, compelled new elections, forced the king to flee and established the republic in April 1931. At this point the Syndicalist and Anarchist workers began to miscalculate their forces. Syndicalism and Anarchism, in spite of their revolutionary phraseology were able only to overthrow the old regime and to allow the new democratic republic to be set up; but these movements could not go forward to the positive constructive tasks of setting up the rule of the workers. These antiquated movements were good enough to accomplish the negative and critical tasks of overthrowing an antiquated monarchy; they did not know how to deal with a modern bourgeois republic. In the course of the revolutionary movement there was set up what in fact amounts to a dual power, the masses respecting the authority of the unions and the revolutionary organizations, the government being forced at times to yield to the opinions of these mass organizations on vital questions. At one time the bourgeois government was even forced to declare that Spain was a workers republic and to feign friendliness toward the Soviet Union. The leaders of the toilers' organizations, however, did not know what to do with their power. The lending groups were composed of four principal elements: the Anarchists, the Syndicalists, the Socialists and the Communists. The Anarchists were powerful enough within the trade union movement to exercise decisive influence for a time upon the whole situation.

The American Era

The American Era Historical Background * The Filipino revolutionists won against the Spaniards who colonized us for more than 300 years. * The Fil-American war resulted in the defeat of Gen. Miguel Malvar in 1903. * The American Rule was influenced by two factors: 1. ) EDUCATION- many were given a chance to study and English was used as the medium of instruction. 2. WRITERS- went through stages of development to acquire enough proficiency in the new language – imitative of the style and the subject matters of the American and European authors * Filipino writers went into all forms of literature like news, reporting, poetry, stories, plays, essays, novels, etc. Their writings clearly depicted their love of country and their longings for independence. * Imitation soon faded, writers began to turn to: native ideas and circumstances- inspiration for their writings.Movement Against the U. S. Colonialism * the printing press was used to block the American culture from entering the P hilippine lifestyle * Newspapers in our different dialects flourished all over the archipelago. * *Writers were given the chance to show and prove the true talent of the Filipinos * *Writers during these period drew ideas from the Propaganda Movement and the Revolutionary Characteristics of Literature During American Regime Three groups of writers contributed to Philippine Literature during this period. * Literature in Spanish The inspiration of Filipino writers in Spanish was Rizal. * Rizal’s two novels (Noli and Fili) contained the best qualities of a novel ever written, in English or in Filipino. * Those who were inspired to write in praise of Rizal were Cecilio Apostol, Fernando Ma. Guerrero, Jesus Balmori, Manuel Bernabe, Claro M. Recto, etc. Example: by Manuel Bernabe Recodar! Ay del alma que recuerde! la quiebra que ha sufrido la ilusion la memoria es la fiera que nos muerde el pobre Corazon English translation: To remember! Poor soul that recordsThe sufferings you und erwent in illusion Memory is the fire that snared My poor heart. * Literature in Tagalog * Florante at Laura of Francisco Balagtas and Urbana at Felisa of Modesto de Castro became the inspiration of the Tagalog writers. * The advent of American period includes (1)Tagalog Drama (2)Tagalog Short Story (3)Tagalog Poetry * Julian Cruz Balmaceda classified three kinds of Tagalog poets. They were: * Poet of the Heart (Makata ng Puso) * Poets of Life (Makata ng Buhay) * Poets of the Stage (Makata ng Tanghalan) * Literature in English We can trace the beginnings of Philippine literature in English with the coming of the Americans thus, this period is divided into three time frames, namely: * The Period of Re-orientation: 1898-1910 * By 1900, English came to be used as a medium of instruction in the public schools. From the American forces were recruited the first teachers of English. * By 1908, the primary and intermediate grades were using English. It was also about this time when UP, the forerunner in the use of English in higher education, was founded. Writers of this period were still adjusting to the newfound freedom after the paralyzing effect of repression of thought and speech under the Spanish regime. * The Period of Imitation: 1910-1925 * By 1919, the UP College Folio published the literary compositions of the first Filipino writers in English. They were the pioneers of in short story writing. * They were then groping their way into imitating American and British models which resulted in a stilted, artificial and unnatural style, lacking vitality and spontaneity. * Writers of this folio included Fernando Maramag, Juan F. Salazar, Jose M.Hernandez, Vicente del Fierro and Francisco Tonogbanua. * The Period of Self-Discovery: 1925-1941 * By this time, Filipino writers had acquired the mastery of English writing. * They now confidently and competently wrote on a lot of subjects although the old-time favorites of love and youth persisted. * They went into all for ms of writings like the novel and the drama. Other Forms of Literature * Ilocano Literature * Pedro Bukaneg: Father of Ilocano Literature. His name was derived from the word Bukaneg meaning Balagtasan. * Claro Caluya: Prince of Ilocano Poets. Known as poet and novelist. Leon Pichay: known as the best Bukanegero (from Bukaneg). Also a poet, novelist, short story writer, dramatist and essayist. * Literature of the Kapampangans (Pampango Literature) * Juan Crisostomo Soto: (Father of Kapampangan Literature). The word CRISOTAN (meaning Balagtasan) in Tagalog is taken from his name. * Aurelio Tolentino: He truly proved his being a Kapampangan in his translation of KAHAPON, NGAYON AT BUKAS into Kapampangan which he called NAPON, NGENI AT BUKAS. * Visayan Literature * Eribert Gumban: (Father of Visayan Literature) He wrote a zarzuela, a moro-moro and a play in Visayan. Magdalena Jalandoni: She devoted her talent to the novel. She wrote ANG MGA TUNUK SAN ISA CA BULACLAC. LITERARY GENRES POE TRY * Written in 3 languges (Filipino, Spanish, English and in the different dialects) * Some known poets were: Maximo KalawPaz Marquez Benitez Carlos P. RomuloMaria Agoncillo Carlos Bulosan Salvador P. Lopez * There were three collection of poems printed, namely: * Filipino Poetry edited by Rodolfo Dato * The English German Anthology of Poets edited by Pablo Laslo * a pre-war collection by Carlos Bulosan ESSAYS Essays during this period improved with years in quality and quantity, in content, in subject and style. * The notable writers of essay during this period were: * Political, social reflective essays * Critical essays * Personal or Familiar essays * The notable writers of essay during this period were: * 1940: Salvador P. Lopez’ Literature and Society * 1940: Camilo Osias – The Filipino Way of Life * 1941: F. B. Icasiano (Mang Kiko) were reprints of the best of Icasiano’s essays in the Sunday Times Magazine under the column From My Nipa Hut. SHORT STORY S hort stories in English of early Filipino fictionists are marked with American style * changed with the founding of the UP Writers Club (1926) whose aim was to enhance and propagate the â€Å"language of Shakespeare† * â€Å"Dead Stars† by Paz Marquez Benitez- was made the landmark of the maturity of the Filipino writer in English * Many writers followed Benitez like: Icasiano Calalang Manuel Arguilla Arturo Rotor * Paz Latorena *STARTED PUBLISHING STORIES MANIFESTING SKILLS IN THEUSE OF THEFORIEGN LANGUAGE & AKEEN FILIPINO SENSIBILITY * The combination of the foreign language and the culture of a Filipino enabled fictionists to roduce great literary works * The public can now relate to the story because the public also experiences what the story has to say and they can now understand the language being used by the writer. Works like: * His Native Soil by Juan C. Laya * How My Brother Leon Brought Home a Wife by Manuel Arguilla * many other stories which depicted the F ilipino life NOVEL * With the founding of the Philippine Writers League in 1936, Filipino writers began discussing the value of literature in the society they lived in. * this move was led by: Salvador P.Lopez whose works centered on proletarian literature * Other novelists of this period are: * Jose Garcia Villa * Francisco Arellana * Fernando Maria Guerrero * Amador Daguio * Sinai Hamada * Ilokano novelists: * Leon Pichay * Hermogenes Belen * Mena Pecson Crisologo (whose â€Å"Mining wenno Ayat ti Kararwa† is considered to be the Ilokano version of Noli Me Tangere) SARSWELA * During this period, SARSWELA GAINED POPULARITY * Most of the sarswelas if not all, are directed against he American imperialists. * Equally remarkable sarswelas durong the period are the works of: * Severino Reyes â€Å"Walang Sugat† Patricio Mariano â€Å"Anak ng Dagat† * Other noted sarswelitas: * Aurelio Tolentino * Juan Abad * Juan Matapang Cruz * Juan Crisostomo Sotto BALAGTASAN * na med after Francisco F. Balagtas * a debate in verse; a political joust * done almost spontaneously between protagonists who debate over the pros and cons of a certain issue * The first ever Balagtasan was held on March 1924 at the Instituto de Mujeres, with Corazon de Jesus and Florentino Collantes as rivals. * Jose Corazon de Jesus as the first ever king of the Balagtasan.

In French, Its Poser une Question Not Demander

In French, It's 'Poser une Question' Not 'Demander' Mistakes will always be made in French, and now you can learn from them. In English, one has  the option of saying either ask a question or pose a question. But in French, demander  cant be used with the word  question,  even though  demander  means to ask.  Poser une question  is the  best  way.  Ã‚     Ã‚  Il ma demandà © pourquoi.He asked me why.   Ã‚  Puis-je te poser une question  ?Can I ask you a question?   Ã‚  Vous pouvez poser des questions aprà ¨s la prà ©sentation.You can ask questions after the presentation. There are other, less frequently used ways, as well, to ask a question in French, including  adresser une question ( quelquun)  and  formuler une question. Its the way the language has evolved and how its been formalized. Thats how  to ask a question has been taught in French schools and how people normally express it.   Demander  is tricky in other ways, too. This regular French -er verb is also a  faux ami. It resembles the English word demand, but it has nothing to do with this rather strident action. Rather, it is the most common  French verb for the milder to ask, and it can be used to ask for something, like a favor.   Ã‚  Il ma demandà © de chercher son pull. He asked me to look for his sweater. Demander quelque chose quelquun  means to ask someone for something. Note that in French there is no for or other preposition in front of the thing being requested. But there is a preposition in front of the person being asked:   Ã‚  Ã‚  Je vais demander un stylo Michel.Im going to ask Michel for a pen. When you want to express that someone demand something, such as a new law, turn to the stronger French verb exiger.   Ã‚  Ã‚  Il a exigà © que je cherche son pull.  Ã‚  He demanded that I look for his pullover. As for the French verb poser,  in addition to being used for asking a question, it also means to put down.   Ã‚  Il a posà © son livre sur la table.He put his book on the table.

Leadership, Management, and the Failure of Worldcom Essays

Leadership, Management, and the Failure of Worldcom Essays Leadership, Management, and the Failure of Worldcom Paper Leadership, Management, and the Failure of Worldcom Paper World joined the ranks of failed companies mostly because of the tactics that management and its accountants used to show that the company was earning more money than it was. This was partly in part because of the CEO Bended Beers and his appetite for money. One could have predicted that the company would fail because of the way the company organized its financial balance sheets, and showing more profits that it had. By overstating the profitability of the company, everything cooked Ideal on paper and to Wall Street, but Investors were not able to gauge the actual performance of the company. High-tech consultant Francis McClellan predicted the failure of World in 1997 when World purchased MIMIC. The MIMIC venture contributed a great deal of costs to World in maintaining or replacing its network architecture. The management of World was mainly interested in the short term financial gain and did not even think about the cost it would take to malting the MIMIC structure. Ultimately the combination of high costs with MIMIC, and he Flanagan methods used had a great deal to do with Its failure. The behavior of Bernard Beers, the Chief Financial Officer Scott Sullivan, and Controller David Meyers, showed that the management did not have a great deal of interest in how the company worked, nor in considering how their actions would be affecting the livelihood of the companys workers. These individuals wer e mainly concerned with their own life and the persist of making as much money as possible, and acted without much concern of how these actions or behaviors would affect the ability for the company to survive. Not only did the management and leadership Intentionally alter financial documents for personal gain, but some individuals who tried to tell others outside the company of these accounting issues ere met with termination from their Jobs. There were internal audit staff who began to raise questions about the financial statements, and afterwards were met with resistance and were told to do other work. The management of the corporation Instilled so much fear into Its workers that the workers of the Internal audit group began to work after hours and on weekends so they would not be found out. Workers new the company would soon be failing but stayed on working because those outside the company were ignoring the signs. An aspect that could predict the failure was there was a poor integration of acquired companies into the organizational structure. Management did not make it a priority to make sure that the customers of the acquired companies were handled In sun a way so Tanat customer service was not Ignored . I en leaders also a make it a priority to combine or merge the numerous computer systems which resulted in various systems being duplicated or systems totally failing. Because of this poor integration, the organizational structure began to suffer. Senior management didnt make much effort in trying to get the various divisions of World to cooperate, leading to undermining the affect of providing a unified service network. Without the unity, the various units would not want to work with the other units and things would not get done. For a large corporation such as World, having the different departments get along and cooperate is essential to handle the various global tasks that need completed for the company to be successful. When managers or leaders of an organization are more concerned with what shortcuts they can take to make more money, regardless of how it may affect the company or its workers, most likely this will lead to the companys downfall and failure. Because the leaders of World were so concerned about how they can show the company is making money, even though the company was not performing as well as indicated, they were oblivious to the idea of anything happening to them. These shortcuts or hidden agendas that the management used ultimately violated the General Accepted Accounting Principles (GAP). The managers had incentives for violating these principles which led to management to committing fraud and increasing their own salary or stock options, ultimately giving them more income. By violating these principles, a company will fail because of the government being involved in making sure companies are fair and accurate, and if companies are not the government will step in and hold them accountable. Conclusion World, along with Tycoon, Enron, and various other organizations, failed because the management and leaders did not believe they would be held accountable for the performance of the company.

Multiculturalism Essay Example | Topics and Well Written Essays - 500 words - 1

Multiculturalism - Essay Example The US population includes people of different origins and cultures who follow different religion and traditions. Therefore, evolving a system where various kinds of people live together in harmony becomes essential. The very concept of multiculturalism was brought in by the evolution of such a social system in the USA. A general concept can be framed that the association of many cultural models in civilized communities give birth to a commonly accepted new one in the absence of specific dominance by any of them. In many events, collective immigration to a particular province of the country can also force a situation in which a new culture is forced upon the existing community. The paper named ‘American Identity, Citizenship and Multiculturalism’ which was presented by Diana Owen, the associate professor of political science in Georgetown University in the German-American conference, 2005 mentions a term ‘melting pot’ which was used by the playwright Israel Zangwill to describe the process by which immigrants from different parts of the world came together in the US. This particular term denotes a process through which the distinction of cultures in the country would disappear in the long run by the merging of those distinct cultures into an exorbitant one. We can say that this process has taken place in the US for good though there is a possibility for counter arguments. On the whole, a unique culture has developed in the US subsequent to its long term multiculturalism policies. Modern world’s economic progress is doubtlessly connected to the contributions of multiculturalism in the reconstruction of political structure of many leading nations. The fact that a person of African origin became the president of the USA proves that multiculturalism is effectively working in the nation. It has definitely contributed to the socio-economic uplift and unity and integrity of the states. The 19th century was the period when the rate of immigration to the

Explain the Development and Relevance of System Development Life Essay - 1

Explain the Development and Relevance of System Development Life Cycles(IT) - Essay Example ign, implementation, and maintenance.   The System Development Life Cycle (SDLC) is also known as Information Systems Development or Application Development. Software concept, as the first step, is to identify the need for a new system. It consists of investigative study on whether a business impediment or opportunity exists; carry out a feasibility study to distinguish the cost effectiveness of the solution proposed. The method may employ IT professionals alone or confer with end-users who have the idea to enhance their work. The concept must go along with the organizations strategic plan to ensure compatibility with the overall strategic objectives of the company and must meet management expectations before any budget is allocated for its development. After doing the analysis and requirements fully identified, The IT personnel will perform architectural design and write the applicable specifications for hardware, software, people and data resources. The design must be submitted to the end-users for review to ensure that the design meets their need. The design will act as a blueprint of the new system that would help to identify and rectify flaws before building the final system. Assessed and conforming to the specified requirements, the IT personnel can now start building the final system. If the management decision is to purchase commercial software rather than developing a new customized application, the system development life cycle in most parts remains the same. Evaluation of off-the-shelf software and the process in purchasing the software will replace coding and debugging. Minor coding and debugging maybe required for optional system interface. This will link the existing system to the new system to enable communication between them. Another point to consider in SDLC is the equal importance of the planning stage. A good and precise planning will reduce errors in design stage and save a lot resources. A business and a project plan are formed during the