Financial planning helps in forecasting situations for business.

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For a manager what are the importance of financial planning:

1. Owners funds are the source of permanent capital

2. Helps in forecasting situations that are probable in the future

3. Helps in avoiding business shocks and surprises

Decisions which can be taken by a manager in a financial plan:

1. Decisions regarding the issue of equity and preference shares

2. Decisions regarding ploughing back of profits

3. Helps in avoiding business shocks and surprises

4. Helps in coordination of other business

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