Elements and Performance Criteria
- Control costs.
- Implement effective cost reduction measures, according to company policy and procedures.
- Assess and interpret information on costs and resource allocation.
- Encourage team members actively to control costs in their areas of responsibility.
- Implement recommendations promptly for improving cost reduction or communicate to relevant personnel.
- Control budget.
- Monitor and maintain expenditure within budget targets according to business policy.
- Compare actual income and expenditure to budget targets at regular intervals according to business policy.
- Analyse gross profit and loss figures by business areas and compare with budget targets.
- Monitor net profit figures and report according to budget targets.
- Inform relevant personnel promptly where potential occurs for budget under or overspend.
- Take prompt corrective action where significant deviations from budget occur.
- Negotiate necessary changes to agreed budget allocations in advance of requirement.
- Authorise modifications to existing budgets according to business policy.
- Propose expenditure.
- Ensure estimates of costs and benefits are supported by valid, relevant information.
- Ensure final recommendations are supported by realistic alternatives and contain accurate, clear proposals.
- Ensure recommendations clearly indicate net benefits over designated timeframe and related changes in operations.
- Clarify contentious issues by further explanation.
- Compare estimates to actual costs and benefits to improve future proposals.
- Maintain business accounting systems.
- Manage and maintain business policy and procedures in regard to record-keeping systems.
- Monitor and maintain business systems for recording sales figures, revenue and expenditure.
- Monitor and maintain systems for recording and retrieving financial, personnel and payroll information as required by business policy and relevant legislation.
- Prepare business sales budgets.
- Observe business policy and procedures in regard to preparation of budget or target figures.
- Compare, analyse, document and report budget and accurate sales revenue and expenditure figures, according to budget targets and business policy.
- Maintain accurate records on past sales budgets or targets according to business policy.
- Present proposed budgets or targets accurately and concisely.
- Justify variations to proposed targets and report according to business policy.
- Report sales budgets accurately and concisely.
- Set budget targets and monitoring mechanisms.
- Conduct budget negotiations within a set timeframe and in a manner likely to promote good relationships.
- Ensure budget negotiations reflect the overall business policies and objectives relevant to the manager’s area of responsibility.
- Acquire and deploy resources, according to relevant legislation and company guidelines.
- Maintain accurate and up to date records of resource allocation and usage according to company guidelines.
- Develop and review management systems that enable timely collection, management and processing of information.
- Complete records of budget performance and expenditure and report according to company procedures and guidelines.
- Enforce budget audit mechanisms and compliance requirements.
- Inform relevant personnel promptly of budget decisions.