<Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> In general usage, a financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans . This often includes a budget which organizes an individual's finances and sometimes includes a series of steps or specific goals for spending and saving in the future . This plan allocates future income to various types of expenses, such as rent or utilities, and also reserves some income for short - term and long - term savings . A financial plan is sometimes referred to as an investment plan, but in personal finance a financial plan can focus on other specific areas such as risk management, estates, college, or retirement . </P> <P> In business, a financial plan can refer to the three primary financial statements (balance sheet, income statement, and cash flow statement) created within a business plan . Financial forecast or financial plan can also refer to an annual projection of income and expenses for a company, division or department . A financial plan can also be an estimation of cash needs and a decision on how to raise the cash, such as through borrowing or issuing additional shares in a company . </P> <P> A financial plan may contain prospective financial statements, which are similar, but different, than a budget . Financial plans are the ENTIRE financial accounting overview of a company . Complete financial plans contain all periods and transaction types . It's a combination of the financial statements which independently only reflect a past, present, or future state of the company . Financial plans are the collection of the historical, present, and future financial statements; for example, a (historical & present) costly expense from an operational issue is normally presented prior to the issuance of the prospective financial statements which propose a solution to said operational issue . </P>

What are the financial plans that governments and businesses prepare yearly