Financial and operational planning is the process a company goes through to plan revenue and expenses using past and present performance, income, expenses in order to plan and forecast for the future. The financial and operating plan defines budgeting and sales goals, cash flow projections, sometimes even crossing over into HR territory with payroll and hiring.
Financial operating plans are updated when the financial and operational environment changes, and if kept up to date, can be incredibly useful in managing more accurate budgets, management control and generating profitability.
Financial operating plans are updated when the financial and operational environment changes, and if kept up to date, can be incredibly useful in managing more accurate budgets, management control and generating profitability.