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Financial Planning Process: Balance Sheets, Cash Flow Analysis & Budgeting Fundamentals

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Finance - Personal Finance

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jake12testoswi Created by 10 mon ago

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Cards in this deck(26)
What are the 7 steps of the financial planning process?
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What is the first step in understanding a client's personal and financial circumstances?
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What does Step 2 of the financial planning process involve?
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What is involved in developing financial planning recommendations?
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What is another name for a balance sheet?
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What are the three steps required to prepare a balance sheet?
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What is the purpose of financial statements?
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How do you calculate net worth?
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What are some ways to increase net worth?
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How should assets be listed on a balance sheet?
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At what value are assets always carried?
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What are the three types of asset ownership?
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What does the cash flow statement show?
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How do you calculate a cash surplus or deficit?
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What are the 3 steps of the cash flow statement?
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What is the planning approach that includes Live, Owe, Give, Grow?
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What are the steps to create a spending plan?
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A budget is a _____
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What are the main purposes of a budget?
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What are the steps to constructing a budget?
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What is a standard emergency fund?
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What is a common feature of regular checking accounts?
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What is a characteristic of an activity account?
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What is a feature of interest-earning checking accounts?
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What should you do when interest rates are rising?
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What should you do when interest rates are falling?
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