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Certified Financial Planner Facts for You

It is the International Board of Standards and Practices for Certified Financial Planners that consider a person a certified financial planner. If you want to be called a certified financial planner, there are certain requirements that you have to accomplish. First, there are a number of examinations that you should pass. Second, it is vital that you be able to enroll yourself in ongoing educational classes. With certified financial planners, it already comes natural to them to be knowledgeable regarding insurance, investing, and tax preparation.

Sales forecast is the first line of work where certified financial planners get to start their job first. The estimated level of sales is the basis when it comes to how financial variables are being projected. Thus, how accurate your sales forecast is will be the one that will tell about how accurate your financial forecast is. There are times where the financial manager takes a part in the process of making sale forecast development. Even so, the certified financial planner will be the one taking the major responsibilities when it comes to sales forecasts.

Sales forecasts are being prepared in different parts of the planning stage. Furthermore, sales forecasts have different purposes. The purpose is for investment planning if the certified financial planner develops a sales forecast that will last for longer periods of time such as a period of 3 to 5 years. If the sales forecast, on the other hand, will only take place for a period of either one or two years, then this will be for assisting financial forecasting exercise. It will have to be because of cash budgeting and working capital planning when sales forecasts are being developed by the certified financial planner to last a shorter duration such as six months, three months, and one month.
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Working capital is another area where certified financial planners are equipped to deal with. You should know that there are two main concepts when it comes to working capital. The first one is what you call gross working capital while the second net working capital. When it comes to the total of all of your current assets, then it will have to be the gross working capital. When it comes to the difference between current liabilities and current assets, then you are dealing with net working capital. If you make mention of management of working capital, then you should know that this is the management of both current liabilities as well as current assets. The major thrust, however, is leaning more towards the management of current assets. This is what is expected because the current liabilities only exist when current assets exist. Working capital management is one area of a certified financial planner’s job that is important. This is because when you invest in current assets, it will also have a bearing on your total investment.How I Achieved Maximum Success with Tips