Financial plan

In general usage, a financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans.

It's a combination of the financial statements which independently only reflect a past, present, or future state of the company.

Compilations are a type of service which involves "presenting, in the form of financial statements, information that is the representation of management".

Forecasts are based on management's expected financial position, results of operations, and cash flows.

For example, one of the industry's leading professional organizations, the Certified Financial Planner Board of Standards, lacks any definition for the term "financial plan" in its Standards of Professional Conduct publication.

A financial analyst studies the data and facts (regulations/standards), which are processed, recorded, and presented by accountants.

Textbooks used in universities offering financial planning-related courses also generally do not define the term 'financial plan'.