Unit 9 Contributing to the planning and control of resources

This unit is about forecasting resource needs preparation of draft budgets and monitoring performance against budgets.

You are required to obtain 1 of the 3 elements

Element objective	Example activities to demonstrate competence
9.1 Prepare forecasts of income and expenditure This is about producing forecasts of demand, revenues, resource needs and costs.	Identifying data to produce forecasts, including any assumptions to be used Preparing forecasts with assumptions Reviewing forecasts based upon any changes Reviewing forecasts and basis of assumptions for reasonableness (audit).
9.2 Prepare draft budget proposals This is about preparing draft income and expenditure budgets.	Producing draft budgets in accepted format Producing schedules and reports of information that form the basis of the budget Producing draft budgets that are consistent with objectives and assumptions Analysing draft budget information Verifying budget data (audit).
9.3 Monitor the performance of responsibility centres against budgets This is about comparing performance of budget figures against actual figures for expense or profit centres.	Ongoing comparison of budget figures with actual figures Coding and allocating of costs to responsibility centres Identifying variances and reporting on them Helping to reconcile budget variances Comparative reviews of budget performance against actual (audit).

top stories