Financial Planning is an important technique used under management accounting to help management in achieving the desired goals. In this regard, choose the incorrect statement about financial planning.
1
Financial planning is the process of deciding in advance about the financial activities necessary for the organization to achieve the desired objectives.
2
Financial Planning is concerned only with long term objectives and plans of the company
3
Financial planning helps in determination of the optimum level of investment in various areas
4
It includes formulating financial policies and developing the financial procedures