Elements and Performance Criteria
- Gather and record operating and cost data
- Analyse data
- Costs are assigned to specified cost objects
- Data are reconciled to ensure calculations are accurate and comply with organisational procedures
- Variance analysis is used to review the effectiveness of the cost assignment process
- Interpretation of revenues and costs is supported by valid analysis and is consistent with the organisation's objectives
- Prepare cost reports and budgets
- Cost information and organisational activities advice is sought from all sections of the organisation when formulating reports and budgets
- Structure and format of reports and budgets are error free, comprehensive, clear and comply and conform to routine and ad hoc management information requirements
- Comprehensive variances against budget and standards are identified, and prioritised for review and decision making
- Analyse cost reports and budgets
- Variances against budget are interpreted and discussed in consultation with relevant personnel in the organisation
- Outcomes from variance reviews are assessed and recommendations made for further actions where required, including revisions to cost and activity standards
- Cost and process information is reviewed for value adding and non-value adding activities, and recommendations made for further actions
- Reports and budgets on specified products, services, projects, organisational units, customers, market segments and other cost objects are assessed against the organisation's objectives, and recommendations made for further actions