Ace the 2026 CGFM Exam – Turbocharge Your Path to Financial Mastery!

The statement regarding the planning stage of the management cycle that is least true is that planning only occurs between auditing and programming phases. In reality, planning is a continuous process that spans across various phases of the management cycle. It involves setting objectives and determining the best course of action to achieve those objectives and is not limited to a specific timeframe or between particular phases like auditing and programming.

The role of planning is fundamentally about establishing how to achieve the set objectives, taking into account both internal and external factors that may impact the process. Plans must also consider the resources available, as planners are often constrained by the expected level of resources, which directly influences what can realistically be achieved. Moreover, the planning stage is recognized as a highly creative phase, as it allows for brainstorming, innovation, and strategic development to foster effective solutions for meeting organizational goals.