Problem: Assistance needed with finding background information on these financial questions. Please include in-text citations and references used.
1. Fixed vs variable costs - What are the basic differences between fixed and variable expenses and how do you consider these in a financial plan?
2. Financial planning - How are investment decisions related to financing decisions?
3. Investment and financing decisions - Identify the steps in the financial planning process
4. Pro forma financial statements - What are pro forma financial statements and why are they important part of the financial planning process?
5. Strategic planning - Explain why strategic planning is the most crucial planning step.
6. Financing plan - Explain why financing plan sets for the ways in which the capital projects will be financed for a firm.