Manage Budgets and Financial Plans

The My Mentor series of professional development eBooks empower individuals to succeed in their workplace through targeted business knowledge and practical exercises.

The Manage Budgets and Financial Plans eBook will guide and advise managers required to undertake financial management, including planning and implementing financial management approaches, monitoring and controlling finances, reviewing and evaluating the effectiveness of plans, and supporting associated financial team members.

Readers are stepped through the process of financial management in the following sections:

• Planning: Clarifying budget/financial plans with relevant parties to ensure outcomes are achievable, accurate and comprehensible, negotiating any changes and preparing contingency plans if required.

• Implementing: Disseminating details of the budget/financial plans, supporting team members so they can perform their financial management roles and accessing resources and systems to manage financial management processes.

• Monitoring: Applying processes to monitor expenditure and control costs to identify variations and expenditure overruns, implementing, monitoring and modifying contingency plans and reporting on budget and expenditure in accordance with organisational protocols.

• Reviewing: Analysing and documenting data and information on the effectiveness of financial management processes, identifying improvements and monitoring agreed improvements in line with organisations financial objectives.

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