George Hedderewick needs to develop a financial plan for Executive Fruit that needs to contain forecasted projections for 2005 - 2007. Financial planning is a method that will require George to consider the overall effect of financial and investment decisions. In financial planning, balance sheets, income statements, budgets and other sources of cash will need to be analyzed and projected. The financial planning will establish goals - standards for measuring performance and will be tied closely to …showed first 75 words of 1311 total…

…showed last 75 words of 1311 total…makes sense. Also, many factors are dependant on one another and others are outside of the company's control, such as interest rates and taxes making predicting even more difficult. However, budgeting and planning is still important due to unpredictability of the future. Companies must budget and plan in the worst and best case scenario; therefore, asking "what if' and have a plan ready before events happen will help the company prepare when the worst comes.