Chapter 6: Financial Planning and Forecasting Flashcards Preview

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Flashcards in Chapter 6: Financial Planning and Forecasting Deck (6):
1

What is mission statement?

- Condensed version of firm's strategic plan

2

What is corporate scope?

- The firm's lines of business and geographical area of operations

3

What is statement of corporate objectives?

- Goals to guide management

4

What are corporate strategies?

- Approaches to obtain firm's goals
- Big picture

5

What is an operating plan?

- Detailed implementation guidance for management to reach corporate objectives
- Based on corporate strategies

6

What is a financial plan?

- Financial assumptions, projected financial statements and projected ratios