Create a better financial plan for 2022–23
Now that the financial year 2021–22 is almost over, we recall the previous year for many reasons, things we'd like to change, decisions we'd like to reverse, and lessons we have learned from facing all those challenges. You can use this learning from your previous budget to develop better plans, support the current budget model, and design process flows based on the allocations. If you still haven’t gotten it right, Here is what you should do: In this blog, we have pointed out the 8 most important steps in financial planning. You can consider this when managing the “common money management problems” in business to get better and different outcomes in your next budget. Let’s find out how: 1. Previous budget reviews 2. Review of Goals and Results 3. Collaboration among the leaders 4. Set out the fixed and variable cost 5. Forecast additional spen...