Elements and Performance Criteria
- Gather and record operating and cost data
- Analyse data
- Costs are assigned to specified products, services and organisational units and data is reconciled to ensure calculations are accurate and comply with organisational procedures
- Interpretation of revenues and costs is supported by valid analysis and is consistent with the organisation's business performance objectives
- Prepare budgeted reports
- Cost information advice is sought from all sections of the organisation when formulating budgets
- Structure and format of budgets and reports are clear and conform to management information requirements
- Variances against budget are identified and prioritised for review and decision making
- Reports are error free, comprehensive and comply with management requirements and organisational practices
- Review costing system integrity