FIN3070 Financial Planning
Advanced · 1 credit · BIT - Business, Admin, Finance and IT
- Description
- Students explain the value of financial planning for a business. They explore the impact of economic trends, changing world markets and tax implications, all of which must be considered when preparing financial forecasts. The concept of market research also is discussed.
- Prerequisite
- FIN3060: Financial Analysis
- Parameters
- Access to an appropriate computer work station, the Internet and appropriate software.
- Supporting courses
- FIN3050: Small Business Taxation MAM3010: The Business Organization
Outcomes The student will:
1 explain the value of financial planning and its value in achieving the financial and operational goals of an organization
2 explore the impact of economic trends, changing world markets and tax implications
2.1 describe the factors that affect market demand; e.g., geographic area, competitors, target share, environmental factors
2.2 describe the effects of political decisions on world markets and/or local markets
2.3 explain the ramifications of world markets on local business forecasting
2.4 describe the impact of economic trends including interest rates, inflation, competition, technology and labour market on financial planning
2.5 relate financial planning to tax implications
2.6 explain how long-term goals may be affected by sources of funding; e.g., equity financing, short-term and long-term debt financing, leasing/buying assets
2.7 explain the impact of internal factors; e.g., technology, price changes, labour problems
2.8 describe planning business transactions to minimize or postpone income taxes
2.9 describe the financial factors to be considered when preparing a contract bid
3 design a forecast that incorporates internal and external factors
3.1 describe the benefits that a company may derive from a formal budgeting process
3.2 explain what information is required to prepare a forecast for a business including:
3.2.1 startup costs
3.2.2 cash flow projections
3.2.3 a capital plan
3.2.4 an operating forecast
3.2.5 a pro forma balance sheet
3.3 prepare a forecast for a new business with data supplied
4 demonstrate basic competencies
4.1 demonstrate fundamental skills to:
4.1.1 communicate
4.1.2 manage information
4.1.3 use numbers
4.1.4 think and solve problems
4.2 demonstrate personal management skills to:
4.2.1 demonstrate positive attitudes and behaviours
4.2.2 be responsible
4.2.3 be adaptable
4.2.4 learn continuously
4.2.5 work safely
4.3 demonstrate teamwork skills to:
4.3.1 work with others
4.3.2 participate in projects and tasks
5 create a transitional strategy to accommodate personal changes and build personal values
5.1 identify short-term and long-term goals
5.2 identify steps to achieve goals
Program of Studies 2009. Source document, © Alberta Education.