0% Plagiarism Guaranteed & Custom Written

Circulate budgets and ensure managers and supervisors are clear about budgets, reporting requirements and financial delegations

01 / 02 / 2019 Essay Updates

This paper circulates around the core theme of Circulate budgets and ensure managers and supervisors are clear about budgets, reporting requirements and financial delegations together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 79. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Unit Sector

Finance – Financial Management

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Plan for financial management

1.1 Review and analyse previous financial data to establish areas which have generated a profit or loss

1.2 Undertake research to review reasons for previous profit and loss

1.3 Review business plan to establish critical dates and initiatives that will require or generate resources in the next financial cycle

1.4 Analyse cash flow trends

1.5 Review statutory requirements for compliance and liabilities for tax

1.6 Review existing software and its suitability for financial management

2 Establish budgets and allocate funds

2.1 Use previous financial data to determine allocations for resources

2.2 Make informed estimates of new items for inclusion in budget

2.3 Prepare budgets in accordance with organisational requirements and statutory requirements

3 Implement budgets

3.1 Circulate budgets and ensure managers and supervisors are clear about budgets, reporting requirements and financial delegations

3.2 Manage risks by checking there are no opportunities for misappropriation of funds and that systems are in place to properly record all financial transactions

3.3 Review profit and loss statements, cash flows and ageing summaries

3.4 Revise budgets, as required, to deal with contingencies

3.5 Maintain audit trails to ensure accurate tracking and to identify discrepancies between agreed and actual allocations

3.6 Ensure compliance with due diligence

4 Report on finances

4.1 Ensure structure and format of reports are clear and conform to organisational and statutory requirements

4.2 Identify and prioritise significant issues in statements, including comparative financial performances for review and decision making

4.3 Prepare recommendations to ensure financial viability of the organisation

4.4 Evaluate the effectiveness of financial management processes


100% Plagiarism Free & Custom Written


International House, 12 Constance Street, London, United Kingdom,
E16 2DQ

Company # 11483120

STILL NOT CONVINCED?

We've produced some samples of what you can expect from our Academic Writing Service - these are created by our writers to show you the kind of high-quality work you'll receive. Take a look for yourself!

View Our Samples

Benefits You Get

  • Free Turnitin Report
  • Unlimited Revisions
  • Installment Plan
  • 24/7 Customer Support
  • Plagiarism Free Guarantee
  • 100% Confidentiality
  • 100% Satisfaction Guarantee
  • 100% Money-Back Guarantee
  • On-Time Delivery Guarantee
FLAT 25% OFF ON EVERY ORDER. Use "FLAT25" as your promo code during checkout