Financial planning

Financial planning is process that prepares the annual financial and operational budgets. It defines the deeds to be done in the year ahead; it translates those deeds into money—revenue, costs, and profits; and it determines the financial benefits of doing all those deeds.

Definition

According to Juran's Quality Handbook by Defeo (7th edition),

Financial planning. Process that prepares the annual financial and operational budgets. It defines the deeds to be done in the year ahead; it translates those deeds into money—revenue, costs, and profits; and it determines the financial benefits of doing all those deeds.