Question: Identify and discuss four basic policy elements of financial planning. Financial planning formulates the way financial goals are to be achieved. A financial plan is

Identify and discuss four basic policy elements of financial planning.

Financial planning formulates the way financial goals are to be achieved. A financial plan is thus a statement of what is to be done in the future. Long-range planning is a means of systematically thinking about the future and anticipating possible problems before they arrive. In addition, financial planning establishes guidelines for change and growth in a firm.

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