The document summarizes a lecture on financial planning in entrepreneurship. It defines financial planning as determining business cash flow, savings, debts, investments and other elements to achieve strategic objectives. It discusses the importance of financial planning for addressing feasibility, planning finances, and seeking additional funds. A basic 5-step financial planning process is outlined that involves determining the current position, goals, alternative courses of action, risks, and developing an action plan with continuous monitoring and revision. Key financial planning tools of income statements, cash flow forecasts and balance sheets are also mentioned.