PA305

AKPKS Personal Financial Management

P R E S E N T E D B Y:
N U R FAT I N B I N T I H A B I B
10DIB10F2009
N U R FA R I N A B I N T I M O H D Y U S O F F
10DIB10F2031
S I T I N O O R A B I D A H B I N T I W A L AT 1 0 D I B 1 0 F 2 0 3 2
N U R I Z Z AT I B I N T I A B D U L K H I R
10DIB10F2059
N U R U L AY U FA D I R A B I N T I A B D U L H A M I D
10DIB10F2048

You are required to provide information based on the matters

listed below

a) Steps in preparing your financial planning

b) The importance of having financial plan
c) Give an illustrate of how of you determine the net
cash flow position ***(use budget and cash flow
statement as below)

What is Financial Planning

Financial planning involves asking questions about

your future, your dreams and goals.

It is thinking about what you want to do in your life,

such as getting married, buying a car or a house,

having children and planning for their education.

Step of the financial planning

Assess your
situation
Review, refine
and review

Identify your
goals

Execute the plan

Find a certified
financial planner

Design a plan

Step of the Financial Planning

a) Assess your situation

- this is the most critical step in financial planning

- is summarizes where your are in regards to the cumulative
effects of your past financial decisions.
- for example:- income
- net worth
- cash flow
- insurance policies
- tax return
- investment portfolios
- retirement plans
- employee benefits

b) Identify your goals

Be specific an measurable. For example:
- It can be requirement like buying home, car, child
education, child marriage, vacation, and retirements.
Along with this there must be a very clear timeline associated
with the goal.
c) Find a certified financial planner
- different planners have different area of expertise.
- the best time to determine what need in a financial
planner is after assess present situation.
- it will help to narrow choice

d) Design a plan
- after review of current situation the financial
planner will provide recommendations and solutions.
- these recommendations should be structured to
meet financial needs and may include a budget, a
saving plan, a retirement plan and investments.
e) Execute the plan
- a financial plan is only successful if put into action.
- financial planner should help and coordinate
efforts to reach a goals and objectives.

f) review, refine and review

- a financial plan must be reviewed regularly.
- as a need changes, economy changes and also plan
changes.
- a good financial planner should encourage to
review plan and make changes as needed and check
on progress.

The importance of having financial plan

Have more control of your financial affaires and be able to avoid excessive

spending, unmanageable debts, bankruptcy or dependence on others

Have better personal relationships with people around you, because you are

happy with your life and you are not going around borrowing money to make
ends meet or expecting hand outs from others.
Have a sense of freedom from financial worries because you have planned for

future, anticipated your expenses and achieved your personal goals in life.
Be more effective in obtaining, using and protecting your financial resources

throughout your life time.

More information about your future needs and the resources that you have.
Have peace of mind knowing that you are in control.

The importance of having financial plan

Cash flow

Standard of
living

Financial
understanding

Capital

investment

Assets

Income

Family

savings

security

Situation 1
Sazali is an entrepreneur and had started his own

business since the last 2 years. He now has 2

branches in the Northern region and is planning to
open a new branch in Kuala Lumpur. In order to
open a new branch, a meeting shall be organized to
seek opinions among the managements. As a
financial officer in one of the northern branch, you
are required to present the branch cash flow position
and other information in the meeting.

New Branch Budget

THE END
THANK YOU!