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A historical retrospective and the essence of strategic financial planning

Olha Nestor
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Olha Nestor: Ivan Franko National University of Lviv

International Economics, 2016, issue 13, 71-78

Abstract: The author has reviewed the historical retrospective of strategic financial planning, distinguished the concepts of “strategic financial planning”, “long-term financial planning” and “perspective financial planning” and determined that their use as synonyms is incorrect. The correctness of three-tier financial planning has been justified. The difference between financial planning, financial forecasting and budgeting has been explained. The problem of strategic financial planning, its advantages and disadvantages, has been considered.

Keywords: strategic financial planning; management tools; historical retrospective (search for similar items in EconPapers)
JEL-codes: B26 G32 O16 (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:ann:inecon:y:2016:i:13:p:71-78