Financial Planning 1.00 & 2.00 Exam

A method used to rank goals in order of importance; goals identified with an "A" are most important, "B" signifies somewhat important, and "C" represents least important

• ABC Principles

• The how-to of organizing

• Making goals

• Important goals

How people use the 24 hours in their day

• Work time, downtime, sleep time

• Sleep for 12 hours, work for 12 hours

• Work smarter – not harder

• Time Management

Putting off until tomorrow what could have

been done today

• Being Lazy

• Procrastination

• Postpone

• Waiting till the last minute to do something.

A list of activities that a person plans to accomplish during a certain period of time

• Things to maybe do today or tomorrow

• Morning wish list

• To-Do-List

• Weekly plans

The process of gathering, recording, organizing, and reporting financial data

• Bookkeeper

• Financial managing

• Accounting

• Chief Financial Officer

Assets

• Facts and figures

• Stock or Bonds

• House, car or truck

• Resources owned by a business or an individual

Liability

• Someone sues you for your money

• Money a company owes

• Bankruptcy

• Owe more than you make

Accounts Payable

• Debts

• Accounts that will be due soon

• Businesses that owe you money

• Payments that you make to employees

A company whose shares are traded on the stock exchange

• A grocery store

• The Mall

• Public company

• Wal-Mart

Finance is the business function that involves decisions about money