Control Expenses Within a Budget Online Course

Overview

This unit standard specifies Controlling expenses within a budget is a fundamental aspect of effective financial management in both personal and organizational settings. It involves carefully monitoring, planning, and regulating how money is spent to ensure that expenses do not exceed the financial limits established in a budget. A budget acts as a financial roadmap, detailing expected income and planned expenditures over a specific period. By controlling expenses within this framework, individuals and businesses can avoid overspending, maintain financial stability, and achieve their financial goals.

This unit standard specifies the knowledge and skills required to manage a budget within the organisation. This unit standard is intended for junior managers of organisations. The qualifying learner is capable of explaining the concept of budgeting pertinent to an area of responsibility. Determining the elements of a budget relevant to an area of responsibility. Monitoring and controlling actual expenses (and revenue), against projected budget.

Course Content

  • The concept of a budget is explained with reference to expenditure in an area of responsibility
  • The budgeting technique employed is explained by means of worked examples
  • The elements of the budget are identified for the resources required to meet the objectives 
  • Internal and external constraints on a budget are identified in terms of an own organizational context 
 
  • Actual expenses are monitored according to Standard Operating Procedures 
  • Variances are identified and corrective measures are proposed and/or taken according to Standard Operating Procedures
  • Non-accredited: Short course only  
  • Duration: 1h 30m
  • Delivery: Classroom/Online/Blended
  • Access Period: 12 Months 
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