PowerPoint Presentation

PRESENTED BY:Nur fatin binti habib 10Dib10F2009Nur farina binti mohd yusoff10Dib10F2031Siti noorabidah binti walat10Dib10F2032Nur izzati binti abdul khir10Dib10F2059Nurul ayu fadira binti abdul hamid 10dib10f2048

PA305AKPKS Personal Financial Management

You are required to provide information based on the matters listed belowa) Steps in preparing your financial planning b) The importance of having financial plan

c) Give an illustrate of how of you determine the net cash flow position ***(use budget and cash flow statement as below)

What is Financial PlanningFinancial planning involves asking questions about your future, your dreams and goals.

It is thinking about what you want to do in your life, such as getting married, buying a car or a house, having children and planning for their education.Step of the financial planningStep of the Financial PlanningAssess your situation - this is the most critical step in financial planning - is summarizes where your are in regards to the cumulative effects of your past financial decisions. - for example:- income - net worth - cash flow - insurance policies - tax return - investment portfolios - retirement plans - employee benefitsb) Identify your goals Be specific an measurable. For example: - It can be requirement like buying home, car, child education, child marriage, vacation, and retirements.Along with this there must be a very clear timeline associated with the goal.

c) Find a certified financial planner - different planners have different area of expertise. - the best time to determine what need in a financial planner is after assess present situation. - it will help to narrow choice

d) Design a plan - after review of current situation the financial planner will provide recommendations and solutions. - these recommendations should be structured to meet financial needs and may include a budget, a saving plan, a retirement plan and investments.e) Execute the plan - a financial plan is only successful if put into action. - financial planner should help and coordinate efforts to reach a goals and objectives.

f) review, refine and review - a financial plan must be reviewed regularly. - as a need changes, economy changes and also plan changes. - a good financial planner should encourage to review plan and make changes as needed and check on progress.The importance of having financial planHave more control of your financial affaires and be able to avoid excessive spending, unmanageable debts, bankruptcy or dependence on others

Have better personal relationships with people around you, because you are happy with your life and you are not going around borrowing money to make ends meet or expecting hand outs from others.

Have a sense of freedom from financial worries because you have planned for future, anticipated your expenses and achieved your personal goals in life.

Be more effective in obtaining, using and protecting your financial resources throughout your life time.

More information about your future needs and the resources that you have.

Have peace of mind knowing that you are in control.

The importance of having financial planSituation 1Sazali is an entrepreneur and had started his own business since the last 2 years. He now has 2 branches in the Northern region and is planning to open a new branch in Kuala Lumpur. In order to open a new branch, a meeting shall be organized to seek opinions among the managements. As a financial officer in one of the northern branch, you are required to present the branch cash flow position and other information in the meeting.

New Branch Budget

12THANK YOU!

THE END