Financial Contingency Planning

Financial calamity plan: Sources of investment firming Trina Burkett AJS/522 June 18, 2012 Gaylia Clark Financial possibility Planning: Sources of Funding A financial accident store is an amount of stead that is set aside to be just employ in fount of an emergency, natural tragedy, or major equipment malfunction. Financial incident plan helps businesses, the organisation activity, and families realize for unexpected exits. Contingency pecuniary resource lavatory help harbor against the possible loss of important property or equipment. Contingency farm animals crumb be used in case of an emergency or unanticipated event. there are umpteen sources of funding that is used at convey and local anaesthetic levels, such as government taxes, nonprofit organizations, and reclusive donations. in that location are disadvantages and advantages to having a financial casualty fund. A misadventure plan is also referred to as a worst-case scen ario planner, an seditious events planner, or a possibility 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 stretch out 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 testimonial against possible losses in an emergency situation. Governments, organizations, and families can usefulness from h aving 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 tending fund (Tatum, What is a Contingency Fund?, 2003). The government contingency fund is used to provide assistance to local and narrate 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: OrderCustomPaper.com

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