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The short-term financial plans are known as
Objectives
Budgets
Programs
Policies
- Objectives: These are specific outcomes or targets a company strives to achieve in a certain timeframe, usually aligned with its long-term strategy.
- Budgets: These are detailed plans that outline expected revenues and expenditures over a short-term period, typically a year, helping organizations manage their financial resources efficiently. They are indeed considered short-term financial plans.
- Programs: These involve a series of coordinated activities or projects to achieve a specific goal, often aligned with specific aspects of the company's strategy or mission.
- Policies: These are formal guidelines or rules that inform decision-making and ensure consistency in handling routine situations.
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