Abstract
This chapter shows how to prepare personal financial statements, such as a personal balance sheet and a personal cash flow statement, as well as how to develop an effective record-keeping system in order to assist with planning and review of one's finances. It outlines how a cash budget can be used to monitor and control spending and how to use ratios to interpret personal financial statements. It puts a monetary value on financial goals, using the concepts of the time value of money and calculations supplied in Appendix A.
| Original language | English |
|---|---|
| Title of host publication | Financial Planning in Australia |
| Editors | Sharon M. Taylor |
| Place of Publication | Chatswood, N.S.W. |
| Publisher | LexiNexis Butterworths |
| Pages | 145-195 |
| Number of pages | 51 |
| Edition | 2017 essentials edition |
| ISBN (Electronic) | 9780409342543 |
| ISBN (Print) | 9780409342536 |
| Publication status | Published - 2017 |
Keywords
- cash flow
- budget