Simulation and the Budget: An Integrated Model: Evolution of the Corporate Financial Model The Planning and Control System Illustrative Case Conclusions Appendix: Generalized System of Equations for Corporate Financial Model References

In the past, a few companies pioneered in developing financial models of their operations. Today these models are in wider use, but principally by the larger companies. It is time for the managers of smaller firms to review their planning procedures and consider using the latest financial toots. This paper follows the development of financial models, and presents a general illustration of their application. Ed.