Financial Planning Assignment

Gather and organize relevant qualitative and quantitative information

Prepare your assignment in a word processing file and follow the instructions on the Assignment page to upload your file when you are finished and ready to submit it.

1.�Gather and organize relevant qualitative and quantitative information. Outline the cost and timing of all goals. Make sure financial statements are as complete and accurate as possible (e.g., loan payments, balances).

2.�Analyze the information, including financial statement ratio analysis. Comment on tax planning, cash and debt management, risk management and insurance, investment management, retirement planning, and estate planning issues

3.�Align financial resources and goals. Work out a budget (for at least 5 years) that includes the cost and timing of the Allen family�s goals. Make adjustments to net worth when required.

4.�Make overall recommendations to the Allen family that will help them achieve their goals and improve their financial situation

5.�Address the Allen family�s misconceptions and answer any lingering questions they may have about their financial plan.

6.�Round all final amounts up to the next dollar.

State any reasonable assumptions that you mak

To properly analyze financial information, it is important to look at both the financial statements and ratios. Financial statements are used to show the financial performance of a company over a specific period, while financial ratios are used to compare the performance of different companies or the same company over different periods.

The main financial statements are the income statement, balance sheet, and cash flow statement. The income statement shows a company's revenues, expenses, and net income or loss over a specific period. The balance sheet shows a company's assets, liabilities, and equity at a specific point in time. The cash flow statement shows a company's cash inflows and outflows over a specific period.