What does financial planning do? Financial plan: types, sections and main indicators

This article is about personal financial planning(LFP). It helps people to achieve the most important goals in life, and live in abundance.

1. Why you need long-term financial planning

Each person has his own goals and vision of the future, his own budget. However, in the life of the vast majority of people there are similar ones. For many it is the purchase of real estate, the creation of funds for higher education of children, the improvement of living standards, the formation of personal capital, the creation and transfer of inheritance.

Someone aspires to create a business, for which you need to save start-up capital. Finally, everyone can have purely personal tasks that require serious savings.

All these tasks for their solution require large savings. This means that the creation of the necessary funds must be planned.

Watch my video on personal financial planning:

Building the necessary funds takes time and regular effort. They will not appear in the family for a month or two. To create the necessary savings, you need financial planning for your personal budget.

Imagine the family of Oleg and Katya. They are 30 years old and have just had a son. The couple would like to change the apartment, in the future to give their son higher education in a good university, and retire at the age of 60 - for what they need.

Questions for spouses:

• What savings, and when, are necessary to achieve our goals?
• How much do we need to start saving regularly to build these funds?
• What should be the structure of the family, given our attitude to risk?
• What instruments do we intend to invest in to create capital?
• How can we be sure that by investing in the chosen tools, at the right time in the future, the family will have the necessary funds to solve important problems?

Answering these questions requires financial planning in the family.

2. What is the subject of LFP

The subject of the LFP is to clearly detail how a person or family intends to achieve one or more major goals. Let me emphasize that within the framework of the plan, it is planned to achieve large-scale financial goals.

Buying a coat in the fall can be an important goal for a person, but it's not a big one. The monthly income is enough to make this purchase. Financial planning solves much larger tasks that require large savings.

The main method of financial planning is. Basically two types of plans are used: the target plan, and the personal investment plan.

A target plan is developed to solve one specific problem. For example, spouses aim to create a fund for a child. Then the financial adviser prepares a solution for this problem for the family.

A personal investment plan solves several problems, and is developed for a longer period. It includes the development of an investment strategy, as well as recommendations on investment instruments to achieve the required goals.

Both of these plans are united by the concept of "personal financial plan".

3. Tasks of LFP

Finplan solves several very important tasks. And one can only be surprised that many Russians do not plan their financial future.

3.1 Clearly define goals

If you intend to make a plan, you first need to understand what goals you intend to achieve. Since the article is about financial planning, we need to define our own.

And if we do this, clarity will appear. A vector will appear, a direction of movement, a desire to reach the goal. It remains to plan its achievement, and move forward step by step.

Most people do not have an understanding of what financial goals they want to achieve. Often they spend everything they earn without planning beyond the current month.

So the decades go by. And suddenly, suddenly, they feel like very mature people. Life has passed, many tasks have not been solved, there are no savings.

Is this not your scenario? Then plan your future.

3.2 Find a balance between present and future

Achieving a major financial goal requires savings. Savings are created by saving and then investing part of current income.

And here two extremes are possible. The first is that a person intends to live only for today, enjoying the “here and now”, saving nothing for the future.

Life is short, enjoy today! This person does not solve his long-term financial problems. And in the future, he will inevitably face serious financial problems.

The second extreme is when a person today lives very sparingly, denying himself literally everything today for the sake of a wonderful “tomorrow”. Perhaps he will accumulate a chest of gold - over which he will wither in old age.

But he will lose the joy and beauty of life, and in fact, life itself. No wealth is worth this price.

How to find a balance between a full-fledged "today" and a secure "tomorrow"? The answer is simple - with the help of financial planning.

Accurate calculations for given goals and the timing of their achievement will show how much money you need to save monthly in order to achieve important goals in the future. Everything else the family can safely spend for a full life today. Knowing at the same time that the most important tasks will be solved in a timely manner.

3.3 Ensure financial stability

Many, I'm not even afraid to say - the vast majority of families in Russia, regardless of the size of their income - are in a very vulnerable financial situation. Because they do not know about the basic elements of financial stability, and have never analyzed their financial situation from this point of view. In addition, the majority of families in Russia have assets distributed irrationally.

The initial stage of personal financial planning is the analysis of the current financial situation and assets of the family. And most of the problems that are revealed at this stage can be grouped into three categories.

3.3.1 Financial instability

Most Russian families assets are distributed irrationally. Most often, 100% of the invested funds are placed conservatively. This means that families are missing out on a significant return on their savings. To increase profitability, you need to transform the portfolio structure.

In addition, all assets are located in one country, in Russia. This dramatically increases the risk of such a portfolio. To reduce the risk - you need to place part of the assets abroad.

At the very beginning, a financial advisor will analyze your investment portfolio and offer necessary changes from point of view:

• liquidity;
• asset structures;
• geographical distribution of funds.

4. What are the benefits of personal financial planning

Decomposing distant, large financial goals into a sequence of simple financial transactions that are carried out on autopilot month after month is the most important advantage that long-term financial planning gives a person.

How does it help achieve the most important goals?

4.1 Do you have a plan to reach your goal?

To eat an elephant, you need to cut it into steaks. This is what the financial plan does - turning your large financial tasks into a chain of the simplest financial steps. Which, being fulfilled, lead a person to achieve the goal.

For example, you set the goal of creating capital by the age of 60 that will provide an annuity of 5,000 USD per month with a risk-free rate of return. What do you need to do to solve the problem?

Financial planning will calculate the capital you need by your sixtieth birthday. Further, taking into account your attitude to risk, a structure will be formed. The structure of the portfolio will determine the realistic rate of return that the portfolio will provide over the accumulation period.

The rate of return and the term of savings will determine the amount that you need to invest every month in order to create the required capital. After that, an investment plan will be opened, the provider of which will monthly deduct the calculated contribution from your plastic card. And distribute this amount in the required proportions among the assets selected in the portfolio.

So, here are the steps leading to the achievement of the financial goal:

• We define the goal. Thus, we fix the period of accumulation, and the amount of required capital;
• Find out your attitude to risk. Thus, we determine the structure of the portfolio, and the rate of return;
• Knowing the rate of return, we calculate the amount that needs to be invested monthly;
• We open an investment plan with the required monthly installment.

As a result, your global task of “creating retirement capital” is broken down into a number of elementary financial steps.

There is only one step you need to take every month and that is to put the amount of the monthly contribution into your savings plan on your card. The amount will be debited by the service provider and automatically invested in the global financial markets in your chosen assets.

4.2 Are you confident that the goals are achievable

A personal financial plan proves the achievability of important goals at the right time. This is directly shown by mathematical calculations made in the planning process.

Thus, you find for yourself that very balance between “now” and “later”. Day after day, you live a full life, and calmly spend all the money left after monthly investment. Knowing at the same time that your most important long-term financial tasks are solved automatically. And they will be resolved in due time.

4.3 The path to the goal is clearly visible

Personal financial planning can be compared to a GPS navigator. You set a goal - you are offered several routes. You choose the best one for you.

I am a financial navigator for my clients. We determine his current financial situation, this is point A. Then we discuss the tasks that a person would like to solve - this is his point B.

Finally, in a dialogue with a person, we choose the best path for him. And a person clearly sees how to achieve goals. I open the necessary contracts for a person - and he begins to move along the chosen path.

If you need advice on personal financial planning, please send me a request:

Sincerely,

,
Financial Consultant

How well organized the process of distributing finances in a company directly depends on its profit and position in the market. This is especially important in an unstable market situation. In the article we will consider in detail why and in what ways financial analysis is performed.

You will learn:

• What are the objectives of the organization in financial planning.
• What tasks are solved in the process of financial planning of production.
• What are the types of financial planning.
• How is financial control carried out in the enterprise.
• Which department to entrust the work on the financial planning of the company.
• What tasks does the analysis of the organization's financial planning solve?
• What are the methods of financial planning.
• What are the steps in financial planning?
• How to manage financial planning in a company.
• What mistakes do companies make in the process of financial planning.

Organizational financial planning goals

The goals of financial planning in a company can be non-economic and intra-economic (or simply economic).

• Economic goals. Is it an increase in business value or other financial results, which the company can achieve in the foreseeable future.
• Non-economic goals. This is everything else that is not related to finances. By setting itself non-economic goals, a firm, for example, may seek to increase its social status, increase influence in the market environment, make the brand more recognizable, increase the number of customers, the number of enterprises wishing to enter into partnerships with it, as well as cooperate with new distributors, suppliers, etc.

One or another goal of financial planning is determined by the specific situation, concept and role that the company plays in the market, in society and in the client environment. Based on these and other parameters, the manager independently decides what he wants to achieve based on the results of financial planning. For some, it is more important to raise funds, someone wants to cooperate with larger holdings, and someone plans to maximize the value of their business for further bargain sale. Goals financial activities companies determine the choice of financial planning methods.

What tasks does financial planning of production solve?

1. Specification of the optimal structure of profit sources.
2. Identification of ways to effectively invest funds.
3. Formation of the budget for production, investment and financial activities.
4. Revealing the degree of rational distribution Money.
5. Respect for the interests of shareholders and other investors.
6. Formation of rational financial relations with budget system, business partners and other contractors.
7. Identification of ways to increase the profitability of the company.
8. Identification of guidelines for the development of the company in the near future and in the long term.
9. Justification of expediency and economic efficiency planned investments.
10. Control over the financial condition of the company.

That is, financial planning is important for any enterprise:

• It allows you to transform the generated strategic goals into specific financial indicators.
• It helps to establish how viable certain financial projects are.
• Financial planning is a tool to get funding from outside.

There is such an economic concept as financial condition enterprises. It means the state of financial investments in the process of their turnover and the ability of the company to self-develop in this moment, that is, to finance their own activities.

The financial condition of the company is determined by how much it is provided with funds for normal functioning, how expediently it invests and spends them, in what financial relationships it is with other legal and individuals how solvent and financially stable it is.

The financial condition of the company is determined by a number of conditions: production plans, reducing the cost of goods and increasing profits, increasing the efficiency of production activities, as well as factors that operate in the field of circulation and are associated with the organization of trade and financial funds (improvement of relations with investors and buyers of goods, improvement of sales and settlement processes).

Financial planning of production activities is aimed at ensuring control over the financial well-being of the enterprise, as well as the competent distribution of financial resources in order to prevent a crisis. The finance manager is primarily responsible for managing the company's finances. That is, this specialist calculates financial cycles, performs analysis and forecast of financial flows, budgeting, etc.

About 1.5% of all funds and resources of the enterprise is presented in the form of finance. This is money, bank deposits at the cash desk and on the current account of the enterprise. Storage of funds is caused by the following reasons:

• The company should always have free financial resources on its current account, which it can use at any time if necessary.
• Organizations need finance to pay off unexpected payments.

But simply keeping money is the wrong decision, because in this way the company may miss the potential profit from investing in some investment project. Any legal entity that conducts financial activities should take into account two points: firstly, it is necessary to ensure the daily solvency of the company, and secondly, to receive additional profit from investing free finances in investment projects. Given this, we can determine the most important tasks of financial planning in an enterprise:

• optimization of free financial resources,
• financial flow management,
• daily control over the receipt and expenditure of money.

It is a forecast of the company's profits and costs. The financial plan contains a block of information from other plans: revenue information, fixed and variable costs. That is, thanks to the financial plan, the company gets the opportunity to analyze income and expenses for a certain period of time, to understand the volume of financial flows that the main production activity and investment.

The financial service of the company provides the necessary information for the formation of a financial plan: information on all income and expenses, financial and inventory flows, net operating income forecast, settlements with counterparties - debtors and creditors. Typically, such information is provided as a forecast of the balance of movement of the company's property. Remember that before developing a financial plan, it is imperative to calculate tax and social payments.

Types of financial planning

Financial planning can be classified according to a number of criteria. But, as a rule, financial planning in an organization is divided into segments, based on the timing of this activity.

This approach is quite common because most of economic entities (private companies, government agencies or, for example, banks) set goals for themselves, while designating a time frame.

World and Russian management uses a method according to which goals are divided into:

• long-term;
• medium-term;
• short-term.

1. If we consider long-term goals, then we mean strategic financial planning for 1–5 years.
2. Medium-term goals within the framework of current financial planning are set for a period of not more than 1 year.
3. As for short-term goals, operational financial planning of the enterprise is used here. The time frame for achieving these goals can be calculated in weeks or months.

It is worth mentioning the so-called research approaches, which involve the existence of intermediate periods for solving problems and the corresponding financial planning criteria. So far, experts have not developed a universal and generally recognized set of periodization of business tasks. In addition, there is no consensus about the boundaries between each of these periods. Taking as a basis the logical and objective laws of modern corporate management, we will try to establish these boundaries.

1. Strategic financial planning

Today, most private companies operate within development cycles. There are rapidly growing enterprises, firms in the stabilization stage, and companies that are preparing for liquidation (or merger with a larger corporation).

A Yale University study indicates that the average modern commercial company has been in existence for 15 years (from start-up to liquidation or merger with a larger entity).

One of the main criteria for classifying a particular business goal or task as a long-term one is its link to one of the indicated development cycles, since at the end of the cycle, new long-term tasks will certainly appear.

That is, provided that each stage of the company's development - growth, stabilization and completion of activities - lasts approximately the same time, the periods of financial plans corresponding to them should not be more than 5 years. The exact duration, in turn, is determined by the specifics of a particular business segment. If it is objectively unsaturated, the growth phase will be approximately 5 years. If the segment is saturated, the stage will take less time, and a longer period will be given to the stage of stable development.

So, as part of strategic financial planning, the company:

• makes plans for a period of not more than 5 years;
• revises strategic priorities as business cycles change.

1. Current financial planning

The payment calendar illustrates deviations from planned income and expenses, so that the company can quickly make the right decisions. If it follows from the payment calendar that the existing funds are not enough to cover the planned costs, it is necessary to take care of the growth of profits or cut spending. To increase revenue, you can increase sales of goods, reduce the purchase of materials and raw materials, collect receivables, etc.

If the company has enough finance to cover current and urgent expenses, then certain criteria:

• priorities in payment and the amount of profit that financial investments bring;
• the amount of loss that the company will incur in case of delay in payment.

Based on these criteria, the company should identify all the advantages and disadvantages in each specific case, calculate the projected income from invested funds and estimate the amount of possible fines and penalties due to late payments.

Practitioner tells

An example of effective financial planning

Natalya Zhirnova,

ex-director of the Optimist company, Moscow

It is necessary to exercise control over the financial activities of the company with the help of reports. If this procedure is not debugged and we only have data received a month after the end of the period, the company is doomed to failure. The management simply will not have time to at least somehow influence the financial situation, since it has either already begun to develop, or has changed dramatically.

The optimal solution here is daily planning, which allows you to objectively predict development. This process will take no more than 15 minutes, but it will help you avoid a lot of troubles and difficulties.

Based on personal experience, I will describe how to competently carry out such planning.

First you need to make a forecast. Calculate how much your company will make a profit and incur costs in doing business. What should be the sales volumes so that all the expenses incurred pay off? You should find a break-even point.

Stage 2. Determine the allowable amount of expenses for the week

It is wiser to allocate financial resources over time periods. Try dividing by 2 weeks. There are 52 of them in a year, but it is better to rely on 51, given non-working days, breaks and other factors that affect the overall duration of the company.

Stage 3. Introduction of uniform rules for registration of expenses

Do not hide this procedure from your employees. Tell your staff in detail what you are doing and for what purpose. It is necessary that the employees of your company are aware of why the additional paperwork is being introduced and how to work effectively in this direction.

Stage 4. Appointment of the day and time of financial planning

Set a specific date - this is important. I advise you to use Monday, the middle of the day, since by this time all the reports for the previous week have usually already been submitted.

Stage 5. Distribution of income

It is better to distribute only those funds that are already in fact at the enterprise. Of course, in the future you can expect to receive additional funds from your activities. However, no one knows exactly how the situation will develop.

• Accounting for the organization's revenue and the procedure for its documentation

Which department is responsible for financial planning in the enterprise

The company management system is a complex mechanism, and the financial service in it is one of the most important parts. It is the financial department that has information on the basis of which it is possible to form an objective opinion about the activities of the company.

The tasks of the financial department are the collection and analysis of data on the work of the company, on the operations performed by it (including the results of accounting), information on competitors and customers, information for foreign economic reports.

Main directions financial work conducted in the company - budget planning, operational and control-analytical activities.

Functions of the finance departmentin planning:

• planning finances and loans, taking into account all necessary costs;
• analysis of own working needs;
• identification of opportunities for financing the work of the company;
• development of investment projects;
• participation in the development of business plans;
• designing cash plans;
• participation in planning the implementation of released products, analysis of profitability and related costs.

The finance department also handles operational tasks:

• ensures timely receipt of contributions to the budget, pays interest on short-term and long-term bank loans, pays salaries to company personnel on time, performs all cash transactions;
• pays suppliers for the products and services provided;
• covers the cost of planned expenses;
• draws up loan agreements in accordance with the agreements;
• daily monitors the sale of goods, income from them, and other sources of profit;
• controls the fulfillment of the requirements of the financial plan and the overall financial situation in the company.

Control and analytical work

The responsibilities of the financial department include regular monitoring of cash receipts, cash transactions and a credit plan, calculation of profits and profitability indicators, as well as control over the rational distribution of both own budgetary and borrowed and credit funds.

Experience shows that before the function financial service carried out by company accountants.

Today, the list of tasks of the financial department has increased significantly, which required the formation of a special service in the company, whose responsibilities include solving financing issues. Why has the list of tasks increased? This is explained by the fact that companies with different organizational and legal forms have appeared, and private commercial firms have begun to develop more rapidly. Another important role here was played by the fact that objects that previously belonged to the state and municipalities were transferred to private owners. In addition, the independence of subjects in various areas has increased.

If we consider small private companies and partnerships, in them the functions of the financial department can be performed by accountants. This is possible, because in such subjects there is a low trade turnover and a small staff. The reverse situation in large corporations, CJSC and OJSC: there the financial department is an essential structural unit.

Relationships in today's market make it necessary to expand the responsibilities of the financial department. This structural unit controls budget revenues, establishes relationships and cooperates with banking organizations, creditors and suppliers, pays salaries to staff on time, plans calculations, and monitors the appropriate distribution of company funds from the budget. But, in addition to all of the above, the financial department must also conduct financial management, which creates an additional list of tasks.

Financial management

This type of activity involves the management of income and expenses. Target financial management- to find the best ways to distribute their own budgetary and borrowed funds to increase production profits. Within the framework of financial management, the most profitable strategy and tactics for solving financial issues are developed.

When analyzing financial reports according to a number of criteria, including taking into account the system for forecasting future cash receipts, which depends on the assets and liabilities of the company, the task of financial management is to form the most profitable strategy and tactics for solving financial issues. In this regard, the appointment and place of the financial department in the company's management system is completely changing.

The main goal of the financial service is to ensure stability and economic growth, increase the company's income.

Basically, within the framework of financial activities, the following procedures are performed:

• finance the work of the company;
• establish and maintain cooperation with banks and other economic financial and credit entities;
• expediently use and distribute own and borrowed funds;
• ensure timely budget receipts, bank transfers and payments to staff and suppliers. That is, the financial department carries out cash circulation on the basis of a previously developed plan, and also maintains partnerships, seeking to increase the commercial profit of the company.

• Company losses: how to calculate, reflect in the report and reduce to a minimum

Why do you need a company financial planning analysis?

First of all, when implementing financial management a small business needs to perform a financial analysis. It should be based on information obtained from the results of financial accounting (accounting).

In the course of financial analysis, organizational difficulties may arise: the accounting and reporting content of some small enterprises differ from the accounting and reporting content of medium and large segment companies, since, in accordance with the law, firms that have chosen the simplified tax system are allowed not to keep accounting in full. In this regard, a financial specialist must be able to perform financial analysis based on the available information, and this may require certain adjustments.

Company reports are not enough for a detailed analysis. Here we need the maximum amount of data from accounting and, if possible, from management accounting.

As part of financial analysis, certain methods are used. In particular, they use vertical and horizontal balance sheet analysis, coefficient, factorial, comparative analysis. At this stage, it is necessary to identify the content and dynamics of indicators, assess the degree of profitability, liquidity and solvency of the company, as well as its turnover indicators ( business activity). Below are the main ratios for analyzing the financial position of the company:

Assets (section II of the balance sheet)
Ktl = (0.2–0.25)

Cash + Accounts receivable
Kbl = (0.8–1)
Current liabilities (section V of the balance sheet)
Cash
cable = (0.2–0.25)

Net profit + % on loans
AAOA = Average annual value of assets (balance sheet currency)

Based on the ratios of quick and absolute liquidity (normative values ​​are given in brackets), one can judge what part of the company's short-term liabilities is covered by one or another asset. If the values ​​are below the standards, this indicates that the company is not capable of as soon as possible pay off its obligations, that is, its solvency is at a low level.

The return on assets ratio (ROA) indicates the ability of management to effectively use assets to generate income. In addition, this ratio shows the average return received on all sources of equity and debt capital. At the same time, one can count not only overall coefficient profitability, but also private coefficients - the level of profitability of sales, current assets, etc.

The performance of small business segment companies differs from that of large firms. For example, the liquidity indicator is, as a rule, less important, and the turnover indicator is more. This is due to the fact that a small business segment company with a small number of employees and a high turnover rate is characterized by high performance labor, high accounts payable and low accounts receivable. Here you also need to understand that the borrowed funds are often funds or management, or the owner of the business, which can affect the calculation of liquidity ratios.

After receiving the financial analysis data, they begin to form a financial strategy. Note that it must be developed in full accordance with the entire strategy of the company.

Practitioner tells

Financial planning analysis must be objective

Yuri Belousov,

CEO, E-generator, Moscow

An analysis of the company's financial activities gives the manager the opportunity to create an objective picture of the current situation. He needs the same information to report to the owners or shareholders of the enterprise. First of all, this information must be objective and reliable. If the leader embellishes the prospects a little and conceals the existing problems, then he must understand that in this case he may well lose his position, and there are many such examples in practice.

The results of a company's financial analysis are especially important if we are talking about competitors. The more tense the market environment, the more it is worth relying on research data and the more important their reliability becomes. If the information obtained during the analysis is biased, the company risks going bankrupt. Actions taken on the basis of inaccurate and unreliable information are blind work.

Financial planning methods

Methods of financial planning at the enterprise - certain algorithms and schemes for calculating its fiscal indicators.

On the one hand, financial planning is based on accurate calculations of relevant indicators for the near future and with their balance sheet reconciliation in accounting documents. On the other hand, these are predictable indicators, which are characterized by an alternative eventual character. As part of financial planning, companies use several methods (normative, balance sheet, settlement and analytical, optimization, equity and economic and mathematical).

In financial planning, they use economic analysis, balance sheet and regulatory methods, as well as multivariate calculations.

Thanks to economic analysis, an enterprise can assess its financial position, identify the dynamics of financial data, understand how they change, find out what internal potentials are for improving financial resources. Economic analysis is used when there are no financial and economic norms, if the analytically established correlation of parameters is stable and unchanged in the planning period.

Using the normative method the company's financial needs can be identified. Here they use the approved standards and technical and economic indicators, both those adopted at the legislative level (tax rates and mandatory deductions, the amounts of payments for depreciation, etc.), and the internal criteria of the enterprise itself, which are used to manage its financial and economic activities.

This method is often used in financial resource planning. Thus, the distribution of the cost of products depends on the indicators of the cost of raw materials, materials and fuel, the cost of wages staff, etc.

Accordingwith multivariate calculations calculate possible versions of planned figures to select the optimal one. The choice is made based on the following criteria:

• minimum investment;
• maximum profit;
• the highest return on equity;
• increasing the competitiveness of the company, etc.

Using the balance method financial analysis, you can mutually coordinate individual indicators of the plan, for example, the needs of the company in finance with the sources of their formation. In the process of distributing financial resources, you can use the methods of balance calculations (using the formula O 0 + P \u003d P + O 1) when forming the balance of the payment calendar or planned balance.

In the process of planning the company's financial activities, it is also possible to apply the coefficient method and economic and mathematical modeling. Various financial tables, charts and graphs are used as tools.

• How to effectively organize the budgeting process in an enterprise

The main stages of financial planning

Financial planning in the organization is carried out in several stages:

• evaluate the implementation of the financial plan in the current and reporting period;
• calculate planned indicators;
• allocate finances for the next and two subsequent years (planning period).

At the first stage of planning, an economic analysis is carried out. With its help, the share (in percent) of the implementation of planned standards in the reporting year is calculated, comparing them with the results obtained. The analysis is intended to search for sources of increasing income, planning activities aimed at increasing the efficiency and productivity of consumed funds. Next, calculate the possible implementation of the plan in the current year.

In financial planning, 4 types are used economic analysis:

• horizontal(compare the indicators of the plan - the actual and planned norms of this year with the planned indicators in the reporting year);
• vertical(form the structure of the plan, calculate the percentage of some indicators from the final figures and determine how they affect the overall results);
• trendy(reveal the nature of the dynamics of financial norms through a simple comparison of planned indicators with reporting ones for several years; based on this, indicators of the planning period are predicted);
• factorial(establish a causal relationship of individual indicators with financial standards).

At the second stage, planned norms are calculated, that is, indicators that set clear goals for the formation and use of finance. These norms are divided into approving (respectively, generally binding) and calculated (in order to argue and link the planned tasks). The calculation of indicators is based on the definition of criteria economic activity in the planning period and their corresponding financial objectives. When calculating, several options are calculated and the most optimal financial plan is selected, after which its data is adjusted based on the indicators of other plans (forecasts).

At the third stage develop a plan of financial activity, mandatory for implementation. Financial plan must certainly be approved by the head or a separate body with the appropriate powers.

Here they use the balance method of planning financial resources, which agrees material resources subjects of distribution with their needs (depend on the forecasts of the SDS, business plan, statutory documents); municipal and government agencies authorities, (non)commercial companies with their incomes (profits); correlates the distribution of funds by consumption methods, recipients, etc. This technique is aimed at improving the stability of the budgets of state bodies and local governments, as well as individual business entities.

At the third stage of financial planning, they often use the method of optimizing planned decisions. They calculate several versions and choose one, the most suitable financial plan. In this case, selection criteria can be applied at two levels:

• microeconomic(the maximum amount of normalized profit, the minimum of normalized costs, the shortest period of capital turnover, the maximum income per unit of investment, etc.);
• macroeconomic(the smallest volume of current budget expenditures, the largest volume of budget revenues, the minimum productivity of budget expenditures, the minimum non-interest budget expenditures, the best socio-economic result of capital budget expenditures, etc.).

Management of financial planning in the enterprise

The planning management method is determined by the size of the company. In very small firms, management functions are not distributed, and managers can personally delve into all the problems. At enterprises of a large business segment, budgets (plans) are developed in a decentralized manner. After all, it is in the divisions that specialists with the greatest experience in production, procurement, sales, operational management activities etc. Therefore, it is in the departments that they propose solutions and measures that should be applied in the future.

Formation of budgets of departments should not be carried out in isolation from each other. When calculating, for example, planned sales figures and, accordingly, the amount of coverage, you should know the conditions of the production process and the planned selling price. To provide effective system coordinators in many companies write instructions for developing budgets, including a time plan, as well as the distribution of functions and responsibilities during the calculation of budget indicators.

In manuals on financial planning, as a rule, two methods of forming budgets (plans) are described: break-down (top-down) and build-up (bottom-up).

Method break down implies that budgets are developed "from above". That is, the goals and objectives of the company (in particular, profit targets) are set by management. Further, all these indicators are more and more detailed in the course of advancing to more low levels structure of the company, and they are included in the plans of divisions.

Method build-up implies the reverse. For example, separate sales departments begin to calculate sales targets, and only then the head of the company's sales department includes them in a single budget (plan), which can later become part of the company's overall budget (plan).

The break-down and build-up methods represent two opposing trends. In practice, using only one of these methods is impractical. Planning and budgeting is an ongoing process where the budgets of different departments should be coordinated all the time.

Long-term planning defines medium-term and short-term planning, designed for a shorter period, and therefore requires more detail and specificity. Planning is carried out on the basis of a sales plan, since production focuses primarily on what can be sold, that is, what will be in demand on the market. The production volume depends on the sales volume, which, accordingly, determines the planning of all types of resources, including labor costs, stocks of raw materials and materials. This requires planning financial activities, expenses and income. When planning, you need to apply a rigid scheme and use the calculations of many quantitative indicators.

The nature of financial planning is, of course, somewhat abstract, due to the fact that it is impossible to predict certain external factors. However, planning allows you to take into account changes that are not always obvious at first glance.

• A plan for building a sales department from scratch: a note to the manager

Top 5 mistakes in financial planning

According to research results, only 10% of enterprises in the Russian Federation achieve their strategic goals. And the reason is not at all that there are some insurmountable obstacles in the way of the remaining 90% or that these companies set themselves unrealistic goals. It's simpler: it's almost always the wrong planning.

Let's take a look at the five biggest mistakes companies make. Knowing about them, you can act more prudently and avoid defeat.

1. The budget is not tied to the company's development strategy

Although the budget is mainly about fairly mundane things, it is the one that largely determines how much you can achieve. desired results. Therefore, when forming a budget, do not rely solely on the current needs and capabilities of individual departments. Consider also what results and targets you want to achieve in the future, and budget for activities from the strategic plan.

1. The budget is not informative

When preparing a budget, many enterprises rely only on current activities. But the budget should not only take into account the company's strategy, but also illustrate it to some extent. That is, it needs to be formed in such a way that in the future it would be possible to analyze the results from the perspective of various strategic initiatives and obtain the necessary data for further allocation of resources.

1. Employees are not familiar with strategic plans

All personnel involved in planning must fully understand the strategy of the enterprise. In addition, all the necessary information should be freely available to employees - otherwise they simply will not be able to evaluate their contribution to business development.

1. Plans are drawn up without taking into account the opinion of key employees

Employees responsible for financial planning and budgeting often have little idea of ​​the conditions in which the final performers are. Yes, it is not necessary to discuss strategic plans with all sales managers, but the point of view of lower-level managers can be very useful.

1. New plans build on old ones

Without a doubt, it is important to take into account the results of the last reporting period. But when planning financially, don't rely solely on them. Form each subsequent financial plan, taking into account the strategic goals and objectives - they are unlikely to be the same from time to time.

As for the information about how your plans and actual results have previously correlated, they should be used as an auxiliary tool necessary for setting achievable goals. That is, we can derive the basic planning rule: first they form a strategy, then a business plan, and only then a budget. Thus, we can derive the main planning rule: first the strategy, then the business plan, and at the very end - the budget.

Financial planning is an interesting phenomenon. It is believed that its involvement is traditionally associated with solving business problems, with the commercial sphere. But it is not always the case. may well be engaged and ordinary citizens in everyday life. What nuances of financial planning deserve special attention? What tasks can the enterprise face within the framework of the relevant activities?

What is financial planning?

Financial planning is the most important part of management activities in any commercial enterprise. It is best to develop a business in accordance with a well-defined algorithm, based on a model whose functioning depends on factors that are predictable and transparent to the company's management. Financial planning allows you to correlate the capabilities of the organization with the tasks that the owners of the enterprise set for themselves. This process also allows the company's management to find the necessary sources of financial resources and effective scenarios for their use.

Financial planning is designed to assist the management of the enterprise in establishing adequate proportions between various types the resources the firm has. This may be, in fact, capital, or fixed production assets. An enterprise carrying out financial planning correlates various key indicators(such as, for example, the amount of costs, volumes of output of goods, capital investments) with current business objectives. This allows you to build a more sustainable business model based on rational criteria.

The ratio of planning and forecasting

In economic science, a term is defined that is very close to the one we are considering, namely, “forecasting”. What is its specificity? What is the relationship between forecasting and financial planning? With regard to the two terms noted, a number of common features can be distinguished, namely: the integrity of the object and its economic environment, the use of similar or identical methods in solving the tasks set, the presence of goals correlated with business development priorities.

However, forecasting and financial planning has a number of significant differences. As for the first term, it does not imply strict adherence to the identified patterns. They are, as a rule, probabilistic in nature and less detailed than those presented in Forecasting is a prospective study of the capabilities of an enterprise, planning is the development of algorithms, the implementation of which is necessary due to the current tasks facing the company's management.

It can also be noted that the activation of plans may imply certain obligations of the firm to external players - investors or regulators. Yes, planning public finance most often associated with strict reporting procedures for entities that have access to certain financial resources (most often budgetary) to the competent structures. Forecasting, in turn, cannot be the basis for appropriate control, since, as we noted above, probabilistic criteria are used in it, which in practice can differ significantly from those determined during the corresponding preliminary analysis.

In the commercial sphere, forecasting is often an equally important component of a business development strategy. For example, financial planning commercial enterprise- as an organization that is very dependent on the volume of revenue - it is largely tied just to forecast indicators regarding demand from buyers of goods. How can this be expressed? First of all, the fact that the company's management may demand from subordinate structures the maximum compliance of the performance results with the expected figures, which are determined on the basis of forecasts.

Key tasks of financial planning

Financial planning involves the formation of certain tasks for the management of the company. Among these:

Identification of reserves that can increase the company's revenue;

Improving the efficiency of capital engagement;

determination of optimal formulas for correlating costs and production plan;

Ensuring constructive interaction between the enterprise and partner structures - banks, contractors, customers in the aspect of financial communications.

In the process of solving problems that in question, the management of the organization carries out activities within the following main areas: the movement of capital, as well as accounting activities (accounting, reporting - internal or to state regulators).

These are the main tasks of financial planning. We now explore the key principles that may underlie the relevant activities of the enterprise.

Key planning principles

We will study the key principles on the basis of which financial planning in an enterprise can be carried out. Researchers identify the following list:

Prioritization;

Involvement of forecasting methods;

Coordination and control.

Let's consider their essence in more detail.

Regarding such a principle as prioritization, enterprises in most cases are faced with the fact that production and other tasks related to business development become complex. In order to solve them all, it is often necessary to invest huge resources, including in solving those tasks that are obviously of a secondary nature from the point of view of business development. The management of the firm must therefore be able to identify the main areas of activity (and concentrate the necessary resources in the appropriate areas).

Another important principle on which financial planning in an enterprise can be based is forecasting. It can be implemented in various aspects. This may be the forecasting of internal production processes, the impact external factors- both market and administrative. The key method here is the analysis of processes relevant to the respective areas.

Risk analysis is an example of another significant principle in the process of solving problems that form financial planning. The fact is that almost any business is implemented in environments characterized by certain potential threats. This may be, for example, currency fluctuations or the unstable policy of state regulators. Foreign policy risks are also significant - this is especially noticeable in the example of the sanctions of Western countries against Russian enterprises.

Coordination and control are examples of other essential principles of financial planning. What can be said about them? Coordination is a rather complex term. It can be understood, on the one hand, as a combination of various activities at the enterprise into a single concept, on the other hand, the use of management methods common to all production areas, the introduction of universal principles for maintaining corporate culture, and the dissemination of knowledge among employees that contribute to understanding the key priorities of the company. Control is a procedure that ensures that the employees of the enterprise follow the algorithms that are laid down in the relevant plans.

Planning Methods

We will study what methods of financial planning are. There are many approaches to their classification. In the environment Russian entrepreneurs the one that is based on the division of activities according to the criterion of their orientation has become quite widespread: bottom-up (from subordinate units to management), top-down, as well as through the implementation of counter initiatives of company employees and management. We will study these methods of financial planning in more detail.

Regarding planning within the framework of the “bottom-up” scheme, the corresponding plans are formed by competent specialists of subordinate structures, based on the results of their detailed analysis of production processes.

Advantage this method that the structure of the corresponding business development algorithms will be very detailed, including the smallest nuances, many of which may later turn out to be key in terms of solving production problems.

The second method assumes that the company's management forms general, conceptual tasks, and transfers them to subordinate structures for the purpose of further detailing and structuring in the appropriate type of financial development plan. The advantage of this method is that planning will initially take into account key strategic factors, such as the state of affairs of the company in the market (in the first scenario, specialists from local divisions may have a fairly general or completely erroneous idea about it), the specifics of interaction with creditors and investors (similarly, employees of subordinate structures may not know anything about the relevant nuances).

The third scheme is characterized by the simultaneous activation of the key principles of their first two. Thus, it defines the key benefits of both − strategic planning finance, taking into account factors known only to management, as well as detailing business processes.

What can prevent an enterprise from always working within the framework of the third scheme, since it is so successful? This may be due, for example, to the strict observance of trade secrets in the enterprise. Thus, the company's management does not always have the opportunity to bring to the attention of subordinate employees data relating to the company's credit load or information reflecting the company's interaction with investors. In this case, most likely, the scenario "from the bottom up" in its purest form will be involved.

Planning tools

So, we examined the main methods by which financial planning can be carried out. Market economy- a phenomenon that involves the competitive relationship of players in a particular business segment. The winning position, most likely, will be with those companies that can use the most effective tools in terms of practical solution of problems related to financial planning. We will study what tools businesses can use in terms of the area of ​​activity under consideration.

Analysis

Among the most common and significant is economic analysis. This tool allows the company to identify patterns that characterize production processes, as well as areas of interaction of the company with external players - contractors, creditors, customers. allows you to identify what reserves the company has and what they can suffice for. It can be noted that the corresponding tool is considered by many researchers as an independent method of financial planning due to its complexity, the presence of a large number of additional components in it.

Rationing

Another common tool with which planning can be carried out in the financial system of an enterprise is rationing. Its specificity is that competent specialists working in a company calculate certain planned, expected indicators based on available data on standards (concerning, for example, the production of goods or the provision of services). The sources of the relevant norms may be both official in nature (that is, they may include one or another source of law - for example, the federal law) and internally.

Optimization

The next most important planning tool is optimization. The fact is that on the basis of economic analysis and rationing, several concepts can be developed at once, suggesting scenarios for the distribution of finances in an enterprise. Of these, it is necessary to choose the one that reflects the state of affairs in the company most objectively, and therefore can be considered optimal. The main criterion here is the achievement by the enterprise of minimum costs and maximum income when using certain approaches. The plan that will predetermine the most complete compliance of the company's activities with these priorities will be chosen as optimal.

These are the main tools by which financial planning can be carried out. Finance is a resource that can be used by an organization in relation to the most different types tasks. Thus, the prospects for the use of capital may depend on the specific types of plans involved in the enterprise.

Types of planning

Learn about the different types of financial planning. There are many approaches to their classification. Among Russian researchers, a scheme is widespread according to which planning and control of finances is carried out on the basis of classifying the relevant activities as prospective, current and operational. Let's consider their specifics in more detail.

Long-term planning involves the development of key strategic priorities by the enterprise, which must be implemented within a significant period of time, for example, 3-5 years. In this aspect, the development of plans, as a rule, is carried out according to the “top-down” scheme, that is, the corresponding algorithms include information that reflects not only the internal specifics of the development of the company, but also the influence of factors that are formed in the external environment.

Current planning involves the development of criteria according to which the enterprise should develop over shorter periods of time than when drawing up long-term plans- about 1 year. This mechanism most often involves the use of a mixed scheme for compiling the formation of the corresponding algorithms. That is, the management of the company, on the one hand, provides subordinate structures with some types of strategically significant information regarding the development of the company, on the other hand, it receives from them the details of the stages of implementation of the plan.

It involves solving the problems that the company faces in a specific period of time, or that need to be addressed in the coming months. Most often, planning is carried out according to the “bottom-up” scheme. Management usually does not make sense in this case to disclose to employees the strategic nuances of business development.

Plans not only business

Planning, as we noted at the very beginning of the article, is an important component of working with finances, not only in business. Relevant activities are also carried out by state structures, and non-profit organizations. Planning family finances in Russia is also in the order of things. Techniques for improving the personal well-being of citizens through the use of various useful techniques and ready-made tools, for example, in the form of computer programs, are gaining popularity. Planning is a type of activity that is quite consistent with the daily life of a modern person.

Can we say that the methods and tools we have noted for drawing up financial plans are equally compatible with any sphere of citizen activity, whether it is drawing up a family or personal budget? Adjusted for the presence of specific business processes, such as the release of goods or accounting services for financial transactions in general, the key laws of the commercial sphere are applicable to general civil activities. A person may well, for example, draw up a personal money management plan in the aspect strategic period, solving current and operational problems. It can involve analysis, normalization and optimization.

Of course, in the event that a citizen who does not have the proper level of qualification is engaged in the relevant activity, these activities will be extremely simplified. But they will fully correspond to the specifics of the nuances of financial planning we have discussed above. The personal budget, therefore, may have pronounced similarities with the corresponding plan for mobilizing capital in the enterprise, albeit in a simplified form.

Financial planning is the process of selecting goals according to their achievability, and according to the available financial means. Depends on external conditions and requires coordination with future financial flows. Also, it is characterized by the preparation and regulation of the implementation of the plan for the formation of income and expenses, which take into account the actual financial situation, expressed in money equivalent goals and means to achieve them.

Financial planning can be carried out both independently and with the help of a financial advisor. AT Western countries associations of financial advisers and various certification programs are widespread.

It happens that simple methods of financial planning services are performed by banks for their clients. The first bank in Russian Federation Citibank became the financial planning service provider. His main task was to save money from selling risky products to trusted customers. And since 2012, Sberbank has offered its own automated financial planning program in the Internet Bank.

Financial plan is a comprehensive plan of functioning and development in value (monetary) terms. In the financial plan, the efficiency and financial results of the production, investment and financial activities of the company are predicted.

The financial plan reflects the final results of production and economic activities. It covers inventory items, financial flows of all structural divisions, their relationship and interdependence.

Financial plan is the final synthesizing and reflecting in value terms the results of the company's activities. Information base to draw up a financial plan is mainly accounting documentation. First of all, these are applications for balance.

In the financial plan of the company, enterprises are reflected:

• income and receipts;
• expenses and deductions of funds;
• credit relationships;
• relationship with the budget.

The results of calculations of the said income and expenses are summarized in the form "Balance of income and expenses". Financial planning documents also include the company's balance sheet.

Enterprise balance

Enterprise balance- this is a summary table indicating the sources of capital and the means of its placement. The balance sheet serves as the basis for the first stage of financial planning - the analysis of financial indicators. In this case, the internal balance is usually used, i.e. balance sheet, reflecting the true financial position of the company, for intra-company use. Especially for publication, an external balance is compiled, usually aimed at underestimating the size of profits to reduce taxation amounts and create reserve capital and for other reasons. For better financial planning in firms, a plan of financial flows of the enterprise.

The income part reflects income from ordinary activities, operating income (various receipts, profit from joint activities etc.), and extraordinary income (income arising as a consequence of emergency circumstances of economic activity). Expenses are reflected in the same items as income.

Enterprise budget

An integral part of the short-term and long term planning is an budgeting.

Any action plan must be accompanied by a budget (expenditure and income estimates), which is quantitative implementation of the plan, characterizing income and expenses for a specific period and determining the need for resources to achieve the goals set by the plan.

Can be compiled for: firms, enterprises, divisions.

The budget far exceeds the plan in terms of rigor and commitment. A budget only makes sense when it is put into practice. a simple estimate of income and expenses would be of no value.

The enterprise as a whole develops a general or main budget, which considers future profits in terms of value, cash flows and supporting plans. Core Budget is a financially quantified expression of marketing and production plans that provide operational and financial management.

Types of financial plans

Strategic plans are plans for the general development of the business and long-term structure organizations. In the financial aspect, strategic plans define the most important financial indicators and proportions of reproduction, characterize investment strategies and opportunities for reinvestment and accumulation. Such plans determine the amount and structure of financial resources needed to maintain the enterprise as a business unit.

In the most general view The strategic financial plan is a document containing the following sections:

1. Investment policy of the enterprise:

• fixed asset financing policy;
• policy of financing intangible assets;
• policy in the field of long-term financial investments.

2. Working capital management:

• cash management;
• management of receivables (credit policy of the enterprise);
• Inventory Management.

3. Dividend policy of the enterprise.

4. Financial projections:

• enterprise income forecast;
• cost forecast;
• general need for capital;
• cash budget.

5. Accounting policy enterprises.

6. Management control system.

Current plans are developed on the basis of strategic ones by detailing them. If the strategic plan gives an approximate list of financial resources, their volume and directions of use, then within the framework of the current planning, each type of investment is mutually agreed with the sources of their financing, the effectiveness of each source of financing is studied, financial assessment the main activities of the enterprise and ways to generate income.

Operational plans- these are short-term tactical plans directly related to the achievement (production plan, plan for the purchase of raw materials and materials, etc.). Operational plans are included as component in the annual or quarterly total budget of the enterprise.

To take into account possible factors of uncertainty and the risk associated with it, it is recommended to prepare several options for financial plans: pessimistic, optimistic and most probable.

operational plan

Operational financial plans are a cash flow management tool.

Financing of planned activities should be carried out at the expense of incoming funds. This requires day-to-day effective control over the formation of financial resources. In order to control the receipt of financial proceeds to the settlement account and the expenditure of cash financial resources, the organization needs operational financial planning, which complements the current one. When drawing up an operational financial plan, it is necessary to use objective information on trends economic development in the field of activity of the organization, inflation, possible changes in technology and organization of the production process.

Operational financial planning includes:

• preparation and execution of the payment calendar;
• calculation of the need for a short-term loan;
• preparation of a cash register.