1.1 Background of the Study:
In
fact, this word is so dynamic in nature and only thing that is permanent on
earth is change. Therefore, people have to put in an adequate financial
planning and control in other to withstand the challenges of the future. A
business cannot be static. It has already been noted that business has to be
changing which requires an adequate balance and cash flow for it to go forward
or backward but not to be stagnate. Thus, for the business to expand, there
must be adequate financial resources.
More
so, no business can grow unless proper accounting, marketing, personal,
financial and so on are fully staffed with good spirited individuals. The
efficiency and effectiveness of any organization be it small, medium or large
scale enterprise, depends on their finance, planning, control, and management.
Financial planning and control therefore, enables a firm to monitor its
financial environment including attitudes of investors so that it can optimize
the benefit of planning from the environment. Systematic and adequate planning
will therefore ensure the availability of the amount desired of the business
life time.
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