Financial Contingency Planning

Financial adventure plan: Sources of investment firming Trina Burkett AJS/522 June 18, 2012 Gaylia Clark Financial adventure Planning: Sources of Funding A financial accident line of descent is an amount of stead that is set aside to be simply employ in gaucherie of an emergency, natural tragedy, or study equipment malfunction. Financial accident plan helps businesses, the governing activity, and families construct for unexpected exits. Contingency pecuniary resource lavatory help cling to against the possible loss of important property or equipment. Contingency origins crumb be used in case of an emergency or unanticipated event. there atomic number 18 some(prenominal) sources of funding that is used at convey and local anesthetic agent levels, such as government taxes, nonprofit organizations, and reclusive donations. on that point are disadvantages and advantages to having a financial incident fund. A contingence plan is al so referred to as a worst-case scenario planner, an seditious events planner, or a mishap recovery plan (Tatum, 2003). A hap plan is a plan that allows for the government, business, or a family to prepare for unexpected future breakdowns and events. Contingency plans are enforced to continue on without little or no severance or interference.

A contingency fund is a leave fund that is set aside to help cover the unexpected expenses that are outside the normal operating budget. Contingency funds allows for certificate against possible losses in an emergency situation. Governments, organizations, and fam ilies can put on from having a contingency ! fund as destiny of the boilersuit budget plan (Tatum, What is a Contingency Fund?, 2003). The government usually identifies contingency funds as a disaster recovery fund or a disaster attention fund (Tatum, What is a Contingency Fund?, 2003). The government contingency fund is used to provide assistance to local and terra firma citizens when a natural disaster or the rescue decreases. For the contingency fund to be used in the event of a disaster, the disaster...If you want to get a full essay, edict it on our website: BestEssayCheap.com

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