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Planning relates to determining the company’s short-term (1-year) and long-term (3-5 years) objectives. Budgeting is a type of short-term planning whose goal is to transform strategic objectives into an operational plan by allocating available resources.
"Very few, if any, companies can be consistently profitable and grow without careful financialplanning and cash flow management. The job of managing a corporation’s cash flow typically falls to its FP&A team and its Chief Financial Officer (CFO). Read more about the role of the CFO."
They play a crucial role in strategicplanning, risk management, and driving innovation, extending their influence far beyond the finance department. Building Flexible FinancialModels: The ability to quickly adapt to changes is a competitive advantage.
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