Ch 27: Financial Planning & Implementation

About This Chapter

Study for an upcoming test that covers financial planning and implementation with help from this self-paced chapter. Enjoy access to fun lessons, short quizzes and other study resources that enhance your understanding of this topic in an engaging online environment.

Financial Planning & Implementation - Chapter Summary

This chapter can help you gain confidence as you study the basics of financial planning and implementation. Review bite-sized lessons to improve your knowledge of the financial planning process, ethics in managerial accounting, budget controls and more. When finished, you will be ready to do the following:

  • Define the financial plan for a business
  • Detail the financial planning process
  • Share the purpose of financial controls in organizations
  • Discuss budget controls and top-down, bottom-up, zero-based and flexible budgeting
  • Differentiate between insurable and uninsurable risk and discuss ways to manage risk
  • Exhibit knowledge of ethics in managerial accounting

Study financial planning and implementation your way by reviewing the lessons in any order and as often as you'd like. Take short quizzes before, during or after exploring the lessons to assess your comprehension of their contents. A practice exam is available to check your understanding of the entire chapter. These resources are available 24/7 and are easily accessible using any computer, smartphone or tablet.

6 Lessons in Chapter 27: Financial Planning & Implementation
Test your knowledge with a 30-question chapter practice test
What Is a Financial Plan for a Business? - Definition & Example

1. What Is a Financial Plan for a Business? - Definition & Example

A financial plan for a business can help managers determine if they can achieve the organization's goals. The financial plan is one of the first things created to help managers make decisions that are in the best interest of the organization.

The Financial Planning Process

2. The Financial Planning Process

Financial planning is essential for the success of any business. In this lesson, you'll learn about the financial planning process that businesses perform, including preparation of a master budget, capital budget and cash budget.

Financial Controls in Organizations

3. Financial Controls in Organizations

Organizations have to deal with a lot of money. How do they keep it all straight? In this lesson, we're going to explore the concept of financial controls and see how these can be used to help organizations manage their resources.

Budget Controls: Top-Down, Bottom-Up, Zero-Based & Flexible Budgeting

4. Budget Controls: Top-Down, Bottom-Up, Zero-Based & Flexible Budgeting

In this lesson, we will explain the purpose of budget controls and explore several key related concepts including top-down budgeting, bottom-up budgeting, zero-based budgeting and flexible budgeting.

Ways to Manage Risk: Insurable and Uninsurable Risk

5. Ways to Manage Risk: Insurable and Uninsurable Risk

Risks abound in life and in business. However, most risks can be managed. In this lesson, you'll learn about ways to manage risks. You'll also learn the difference between insurable and uninsurable risks. A short quiz follows.

Ethics in Managerial Accounting

6. Ethics in Managerial Accounting

The function of managerial accounting is to provide information to key decision-makers within the organization. A high standard of ethical behavior is expected from those who develop this information.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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