TRabajo de ingles

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UNIVERSIDAD METROPOLITANA DE EDUCACIÓN, CIENCIA Y TECNOLOGÍA

Theme:

The concepts, sources and planning work in operation for businesses

Teacher:

Delia Ballesteros

Date:

29 de Abril de 2015

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INTRODUCTION

Finances are rooted in the completion of a business transaction with the transfer of financial resources. It receives contributions mainly from disciplines such as economics, management, accounting and quantitative methods of analysis. Finance can be defined as "the art of managing money," while financial management "refers to the tasks of the financial manager". Finance contains a set of principles, techniques and procedures, which are used to transform the information reflected in the financial statements of a company, processed information usable for decision-making.

Meanwhile financial planning and control processes are closely related to financial management and strategic planning. Planning and financial control involving employment projections are based standards and the development of a feedback process and adjustment to increase performance. The results obtained from the screening of all these elements of costs and expenses are reflected in the state budget or pro forma results. Meanwhile, sales estimates allow us to consider the various types of investments required to develop products. These investments, plus the previous year's balance sheet, provide the data necessary to develop the assets column of the balance sheet.

These assets must be financed, but also requires an analysis of cash flow.The cash flow of the company plays an important role because, when net positive indicate that the company has sufficient financing. If not, it would warrant additional funding. This means that cash flow is the essential element for financial forecasts because he based on the projections made in order to achieve the goal or ultimate goal of every business: profitability. Matter Planning and Financial Control, aims to develop basic concepts of finance, financial planning, financial analysis, working capital funds and securities, credit and collections policy and funding in the short and medium term bank loans, financing of goods and investment analysis, and applications to practical problems that arise in organizations and in real life.

Similarly, in today's global world should also consider the strategic and economic trends that the company must meet to achieve sustainability in the long term. It thus becoming a strategic analysis because besides identifying the strengths and weaknesses of the business, is necessary to know the impact of environmental factors to differentiate their business opportunities and threats that might affect it.

Also the interpretation of financial data is extremely important for each of the activities carried out within the company, as by this executive is worth to create different outsourcing policies and may also focus on solving specific problems facing the company, such as, for example, accounts receivable or accounts payable; molded while credit policies to customers depending on their rotation, it can also be a focal point when used as a tool for rotating obsolete inventories. Through the interpretation of the data presented in the financial statements managers, customers, employees and suppliers of financing, you can tell the company performance shown in the market; It is taken as one of the primary tools of the company.

Financial Planning and Control provides relevant to an organization considered as key elements in the ongoing monitoring of its management aspects and goals to achieve. Must be analyzed, similarly, the strategic planning process and its impact on the achievement of organizational objectives; learn to design a dashboard that allows to monitor and measure the progress of these strategic objectives, and control the cost of financing, through the evaluation of financing options and to create value in an organization, through determination the optimal financing structure of a company; and valuing companies under the method of the present value of projected free cash flows.

In conclusion, the primary objective Planning and Financial Control aims is to help company executives to determine whether decisions about financing were the most appropriate, and thus determine the future of investments in the organization; however, there are other intrinsic or extrinsic elements are equally interested in understanding and interpreting these financial data in order to determine the situation in which the company is located.

• GENERAL OBJETIVES

Expose techniques and tools on Financial Planning and Control, as necessary for effective and timely decision making strategic element, and to view it as a business and the impact of this activity in the company is administered in order to achieve their goals and objectives from the holistic point of view.

• SPECIFIC OBJECTIVES

Establish the nature of Planning and Financial Control and objectives, analyzing the mutual interrelations between investment alternatives and financing of the company as well as the effects of the Planning and Financial Control in the management, through control of revenues, cash flow and other financial statements.

Analyze and define what the essential information to help businesses make decisions about the appropriate economic and financial performance. Study the financial strategy of the company and its connection with the strategies set out in this comprehensive plans. Analyze comparisons subsequent behavior of financial planning, with the objectives set initially in the financial plan, using the main indicators that form the basis for applying the techniques of financial control in the company. [pic 14]

THE CONCEPTS, SOURCES AND PLANNING WORK IN OPERATION FOR BUSINESSES

Planning "is decided by rationality and intentionality against random / uncertainty" is "make decisions in advance about future courses of action (Anticipating React Vs)," you can also say that it is "the systematic development of programs geared towards meeting pre-defined objectives, through a process of analysis, evaluation and selection of the different opportunities that have been predicted ".For his part, control is an activity that is part of everyday human life, consciously or not. It is a function that is performed by previously established parameters, and the control system is the result of planning, therefore, points to the future.

Control refers to the use of records and reports to compare what has been achieved as scheduled, therefore control is the set of actions taken in order that the activities are carried out according to plan. The management includes the process of skills, knowledge and resources to carry out the solution of tasks efficiently, while corporate governance is a term used to describe the set of techniques and experience of the organization, processes such as planning, efficient management and control of operations and other activities of the organization.

The financial planning process presents techniques and tools for effective and timely decision-making, to visualize as a business and the impact of this activity in the company, in order to achieve its goals and objectives is given from the point holistic view. According to Weston and Brigham 1992 (Fundamentals of Financial Management), the financial planning process "involves making projections of sales, income and assets based alternative production and marketing strategies as well as the determination of the resources needed to achieve those projections "

Brealey / Myers, 1992 (Principles of Corporate Finance) on financial planning, states that a "process of analysis of the mutual influences between investment alternatives and financing; projection of future consequences of present decisions, the decision to adopt alternatives and finally the subsequent behavior compared with the objectives set in the business plan. "In conclusion the process of financial planning is a technique that combines a set of methods, tools and targets, in order to establish an economic and financial forecasts and achieve business goals, taking into account the means that have and those that required to achieve it.

• FINANCIAL PLANS: CONCEPTS

Clearly, a company that does not prepare financial plans can not maintain a position of progress and profitability. A successful company requires: common sense, good judgment and experience, but a real business management requires setting targets and conducting operations so that the achievement of these objectives is ensured. Financial managers should consider the planning and control systems, considering the relationship between sales volume and profitability under different operating conditions, allowing them to predict the level of operations, financing needs and profitability as well as the needs of funds the company or cash budget.

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