The traditional scheme of financial planning includes the following stages:
– plan of sales;
– plan of shipping;
– coordination of the plan of output with the abilities of production;
– corrections of takings according to the plan of output;
– count of expenses on implementation, energetics and others;
– consolidation of financial data in the documents on financial streams and flowing capital;
– correction of plans in the case of unsufficient result;
– assumption of the plan.
The main idea of financial planning is that profits and capital movements (especially of monetary funds) are planned simultaneously.
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Financial plan includes just financial and production and technological parts.
1. Plan of sales
Financial planning should begin with planning of sales. Marketing service prepare such plan. Plan of sales consists of plan of input and plan of shipping. Plan of sales includes the volume of sales of goods in natural value (suggested main price) and shows how, what production and when it is shipped to suppliers. Plan of sales is formulated on the basis of reports, contracts, guarantee letters and also according to expected volume of sales.
2. Plan of production.
Plan of production designed according to the plan of sales with taking into account suggested remains of the ready production in the storage.
3. Procurement plan.
According to the plan of the output the production service account wants in raw material, basic and additional materials and in constitutive elements. Plan of the use of materials is accounted according to the norms for consumption of materials on the unit of the product.
Procurement plan is formulated on the base of the plan of material expenses and desirable (planning) state of the material storage, materials and constitutive elements.
4. Labour plan.
Labour plan is formulated in accordance with the norms for consumption of time in qualified groups of workers and job rates for their work.
5. Overhead costs
The budget of overhead costs is effectually to be divided in several just enough independent budgets:
– budget of commercial expenses which is directly connected with sales budget;
– budget of production expences;
– budget of administrative expences;
– budget of financial expences;
– budget of social expences.
6. Budget of capital investments group for business.
It is oriented on the future incomings.
9. Summary plan.
It includes balance, plan of profits and losses and plan of the flow of funds.
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