For any business, effective budget management is a continuing process that needs a constant monitoring, reporting and controlling which is the core responsibility of a budget manager.
The careful monitoring and managing budget benefit an organization in many ways. It facilitates an organization to stay focused on its plan and strategy keeping in the knowledge that where it requires spending its resources along with the advantage to successfully achieve the business goal and objectives with effective budgeting system.
It will reduce the stress level and assist a business to recognize uneconomical expenditures. When the changes occur in financial conditions, it helps in managing financial activities and a business can easily accomplish its financial goal.
This unit aims to provide a comprehensive introduction to the widely studied filed of monitoring and managing budgets along with its value and purpose for the development of a business. The content focuses on various key topics named as ratio analysis, net and gross profit margin including a look at return on investment. On the completion of this unit, the learner will be equipped to do a successful comparison among the investment opportunities.
Discover what is meant by ISO 9001:2008 and learn how to get your budget approved..
After the completion of this course learners will be able to:
This is a standalone course and assumes no prior knowledge