There are five basic steps to personal financial planning and their related tasks. arrange these steps and examples of related tasks in the order of their presence during the financial planning process.
a. develop a plan of action. develop a budget matching income and projected expenses for the remainder of this academic year.
b. evaluate your financial health. record all expenses for a month to compare income and expenses.
c. review progress on the plan, reevaluate the plan, and revise the plan or start over with a new one. based on this year, develop a revised budget for next year based on projected income and expenses.
d. define your financial goals. pay off credit card(s) by the end of this school term.
e. implement the plan. reduce expenses in problem areas so amounts do not exceed budgeted projections.

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

Differentiate between the trait, behavioral, and results-based performance appraisal systems, providing an example where each would be most applicable.

Fortress international, a large conglomerate, procures a few component parts from external suppliers and also manufactures some of the key raw materials in its own subsidiaries. aside from this, the company does not solely depend on outside distributors to reach its customers. in fact, it has its own retail stores to distribute its products. in this scenario, which of the following alternatives to vertical integration is fortress international applying? a. concentric integration b. taper integration c. horizontal integration d. conglomerate integration