A financial case study is important in that it helps the finances student as well as financial practitioners in the mastery of the elements described in financial planning standards. The procedure used in writing a financial case study is one of the simplest to follow. This is primarily because it basically consists of specified figures, hence, simplicity.
The initial step in the writing of a financial case study involves evaluating a client’s financial situation and identifying specific goals as well as stating the objective of the case study, which might be to avoid the mismanagement of funds for a particular individual or an organization, for example. The second step is to determine the main areas that are to be addressed in a financial plan. Later, the writing of a plan will include the methods that will be used in order to maintain cash flow while minimizing its wastage. The fourth step is the identification of any additional data that could be useful in the establishment of a financial plan. Lastly, various strategies are utilized and recommendations given in the financial plan to satisfactorily address the user’s needs.