Live Q&A Session 11 with Rohit Agarwal
11
Introduction to the Company Live Q&A Session with Rohit Agarwal, Finance Head, UpGrad
Transcript of Live Q&A Session 11 with Rohit Agarwal
Introduction to the Company
Live Q&A Session with Rohit Agarwal, Finance Head, UpGrad
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Agenda for the session
Importance of a Financial Plan
Making a Financial Plan
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Good practices for Budgeting3
Open Q & A4
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Why is a Financial Plan important for an Entrepreneur?
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Translates company’s goals into specific targets
Provides a vital feedback-and-control tool
Anticipates problems3
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Why is a Financial Plan important for an Entrepreneur?
Importance of Financial
Planning
Financial Viability
Manage Cash Flow
Trend Analysis
Long-term Planning
PlanSpending
Measure Progress
Evaluate ROI
Determine Financing
Needs
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Agenda for the session
Importance of a Financial Plan
Making a Financial Plan
1
2
Good practices for Budgeting3
Open Q & A4
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How to go about make a Financial Plan?
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Identify input variables
Understand identification of variables before business starts
Estimate the typical planning period3
• Control Variables• External Variables• Policy Variables
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Financial Planning Process
1. Identify Your Needs and Objectives2. Gather Information3. Analyse Information and Develop Plan4. Plan Presentation and Delivery5. Implement a Plan6. Review Your Progress and Update
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Agenda for the session
Importance of a Financial Plan
Making a Financial Plan
1
2
Good practices for Budgeting3
Open Q & A4
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Do’s and Don’ts of a successful financial budget
Do’s• Link to strategic planning• Spend time on strategic decision making• Automate the budgets within the entire organisations• Accept changes quickly and easily• Give fiscal control to lower level managers• Leverage your financial systems by data warehousing
Don’ts• Spend excess time on data collection• Prepare detail budgets before getting agreement on summary budgets• Rely on the system ledger accounts
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Agenda for the session
Importance of a Financial Plan
Making a Financial Plan
1
2
Good practices for Budgeting3
Open Q & A4
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Open Q&A
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