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What is the meaning of financial planning

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In managerial finance what is the meaning of financial planning from a management's perspective? Using the following quotation as a measure:

"Almost all financial plans require an externally supplied sales forecast... for example, the sales forecast will be the 'driver,' meaning that the user of the planning model will supply this value, and most other values will be calculated by management based on it projected value."

Describe and explain the above.

Reference no: EM133072531

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