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)

Aristotle :: essays papers

Aristotle According to Aristotle, a tragedy is â€Å"an imitation of an action that is serious, complete, and of a certain magnitude; in language embellished with each kind of artistic ornament, the several kinds being found in separate parts of the play; in the form of action, not of narrative; with incidents arousing pity and fear, wherewith to accomplish its catharsis of such emotions†(Nahm 7). Aristotle categorizes the six basic parts of any tragedy as plot, characters, thought, diction, spectacle and melody. Shakespeare’s Romeo and Juliet follow this definition of a tragedy and adhere to Aristotle’s six elements of a tragedy: plot, character, diction, thought, spectacle, and song. The Plot, the first principle, refers to the combination of incidents in the story. Aristotle thinks this to be the most important feature of the tragedy. William Shakespeare’s Romeo and Juliet contain a plot that complies with the first line of Aristotle’s definition o f a tragedy, which states â€Å"the imitation of an action is serious and also, as having magnitude, complete in itself†(Nahm 7). This refers to the first element of a tragedy, the plot, implying that Shakespeare’s Romeo and Juliet deal with one issue that is very serious in magnitude such as the conflict between the two families which lead to innocent deaths. Shakespeare also follows Aristotle’s idea of the tragedy being of a certain magnitude. This is because the characters are realistic therefore the audience is capable of relating to them easily. Romeo and Juliet are upset, while grieving over their impending separation and angered about the circumstances surrounding their families. They are also unsure of themselves how they should handle the situation. The audience can relate to this uncertain feeling and they are able to empathize with Romeo and Juliet. Aristotle believed the plot should depict the fall of a man who is basically good, but who suffers from some error or frailty. In the play, Romeo’s frailty is his apt to fall in love too quickly and deeply. In the start of the play he is in love with Lady Rosalynn, but soon falls for Juliet, a member of the Capulets, a rival family. Romeo is blinded by love, unable to think with rational, which cause a string of negative events to come to pass. The suffering of the tragic hero also extends beyond himself.

Breach Of Contract Essay

Breach of contract simply means non performance without excuse or intrusion with other party’s performance with regards with bargained-for exchange or agreement made by one or more parties concerned. The claimant or the complainant in cases of breach of contract is said to be a plaintiff. It refers to a party seeking for a legal remedy by initiating a charge on the court. He also seeks judgment favorable to him and appropriate from legal basis. Not every single case of breaches of contract will be automatically agreement killers or will end up in incriminate. There is what we call material and immaterial breaches. The lawsuit depends on whether it is material or immaterial and also depends on who the parties are. Immaterial breaches are simple cases which can be ignored. It can be fixed by giving opportunity for the defendant to correct and fix the breach. One case of breach of contract is the 2006 case charge against Howard Stern, American radio personality by CBS radio. The CBA radio takes legal action against their former star due to inappropriate used of radio airtime just to build up his potential employer, the Sirius Satellite Radio. And also he was charged due to gained financial reward thru the help of stock sale of CBS radio(Carter, 2006). With this case, the breach is said to be done because the allegedly defendant is of makings things out of his responsibilities and out of the agreement made. As a defense, he can simply use the issue of personal vendetta. He may say that they only using the charges just to annihilate his image as a radio star. If the breach will end up in victory for the Plaintiff, the CBS, they could attain financial payments for the said breach. Reflection Knowing the ideas on breach of contract is necessary for any business related individual as to know what to do to avoid things concerning breach of contract. Because breach of contract may happen in many ways, it is necessary for me as a business practitioner to be able to know much about this. We should know that breach of contract may happen in following cases, one is when a corporation ordered a product from me as an example and when time of delivery it will not accept it or even accept it but they won’t pay for it, I can charge them breach. Second is when corporation tries to interfere with my business which is also another case. Third is when a one of my former employee opens his own business and when gives criticisms against his my business we can also say that it is a breach. For us as a business entrepreneur, knowing the laws in a business community is an essential part especially if we are only a newcomer to the world of business. Being new does not mean we should always be ignorant of the things we should be most likely aware of. There exist a lot of things that should be known and understood with regards with our business. The topic in breach of contract is one of the noted laws in a business community that seems to have a lot of cases. By giving attention to the topic we could further think of ways how to avoid or if not meant to do so we can find ways to solve it. To be able to attain success, not just know how to make our business work out, we should always consider what the things that should be done and the things not should be done. Preparing for a business seems to be tedious but knowing the game of business can help much in business progress. References: Carter, B. (2006). CBS sues its former star for breaches of contract [Electronic Version]. Retrieved July 13, 2007 from http://www. iht. com/articles/2006/03/01/business/stern. php.

The Flea By John Donne And Easter Wings - 1412 Words

In the poems, â€Å"The Flea† by John Donne and â€Å"Easter Wings† by George Herbert use the literary device of a metaphor to convey the meaning of the poems. The use of metaphor by these two authors are essential to the themes of the poems. Metaphors are used to compare two different subjects to explain the poem. The metaphors in these poems draw from the central themes to help the reader understand the deeper meaning of the poem. â€Å"The Flea† uses the metaphor of the flea to explain the relationship of the two characters. It is also used as an entertainment element to the poem. The poem, â€Å"Easter Wings† uses metaphor to also use as an explanation tool to the reader. These poems use the literary device of a metaphor to relate the theme of each of†¦show more content†¦As the flea is holy, because of the divine nature of the mixing of their blood. Then killing the flea is killing what is holy. The mixing the blood of the narrator, woman, a nd the flea is also a metaphor for the holy trinity, as it is the mixing of three lives within one entity. It states in the poem, â€Å"Oh stay, three lives in one flea spare†. Thus the flea is a metaphor for the blood of innocence, which relates to the Christian element of the innocence of the blood of Jesus. The flea becomes a metaphor for the life of Jesus Christ and how it was his blood that saved people from sin. A metaphor in the poem, â€Å"Easter Wings† by George Herbert is in shown in the shape of the poem itself. As the shape of the poem is the shape of wings, which can be associated with a few different metaphorical elements. One way metaphor, is the association of the shape of the wings with the butterfly. This relation is comparing the metamorphosis of a caterpillar into a butterfly, as similar that of the burial and resurrection of Christ. This metamorphosis of the change from a caterpillar to a butterfly can be a metaphor for the act of baptism. As it is representing of being buried to one’s sins and being born again. Also the shape of the butterfly wings, can be representative of one’s soul. In relation to this, the shape of the wings could additionally be indicative of theShow MoreRelatedthatcher4803 Words   |  20 Pagesthe fell of dark†¦Ã¢â‚¬  2. William Shakespeare, Sonnets 1-7 3. John Donne, â€Å"Valediction Forbidding Mourning†, â€Å"The Flea†, â€Å"Hymn to God, My God in my Sickness† 4. George Herbert, â€Å"The Collar†, â€Å"The Altar†, â€Å"Love III† 5. Andrew Marvell, â€Å"To his Coy Mistress† 6. T.S. Eliot, â€Å"The Love Song of J. Alfred Prufrock†, â€Å"Journey of the Magi† 2. Poems for individual reading: 1. William Shakespeare Sonnet 73 (â€Å"That time of year†¦Ã¢â‚¬ ) 2. John Donne, â€Å"Holy Sonnet I† (â€Å"Thou hast made me†¦Ã¢â‚¬ ), â€Å"Holy Sonnet IX† (â€Å"If