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Abstract

This paper deals with the method of financial planning which is presented as the instrument of financial managing. It represents the basis of small business management. Since there are two aspects of control, internal and external, the emphasis is put on internal aspect, for it represents the sum of measures which the management puts into action in order to accomplish the business goals. Those measures could be defined as: the protection of property from excessive spending, providing the reliability of accounting data, consistent realization of business politics in all areas of operation, as well as grading the overall performance of sectors, employees and company management. To inform and assure the management that all sectors of small business are realizing the basic business plan and politics in the analyzed period, is considered to be the fundamental task of internal supervision. The financial control can be: preventive or subsequent. While the preventive control acquires information on business actions, the subsequent control allows us to perceive the disadvantages in determining and applying the financial politics in the previous period. Based on that knowledge, the management in finances uses the subsequent control as the basis for making business decisions regarding the future actions. Moreover, it is also being used for correcting the already undertaken actions and reducing their effects, if possible or necessary.

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