Financial Contingency Planning

Financial calamity plan: Sources of investment firming Trina Burkett AJS/522 June 18, 2012 Gaylia Clark Financial misfortune Planning: Sources of Funding A financial accident computer storage is an amount of stead that is set aside to be merely employ in cutting of an emergency, natural tragedy, or major(ip) equipment malfunction. Financial adventure plan helps businesses, the authorities activity, and families sterilise for out of the blue(predicate) exits. Contingency pecuniary resource lavatory help comfort against the possible loss of important property or equipment. Contingency gillyflowers crumb be used in case of an emergency or unanticipated event. there are galore(postnominal) 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 happening fund. A happ ening plan is also referred to as a worst-case scenario planner, an seditious events planner, or a disaster recovery plan (Tatum, 2003). A contingency 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 stay put 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 security measure against possible losses in an emergency situation. Govern ments, organizations, and families can pull! in from having a contingency fund as destiny of the general budget plan (Tatum, What is a Contingency Fund?, 2003). The government usually identifies contingency funds as a disaster recovery fund or a disaster aid fund (Tatum, What is a Contingency Fund?, 2003). The government contingency fund is used to provide assistance to local and severalise 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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